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Hi Folks, I am plugging along well with my financial goals to buy my Volt this fall. I will be financing somewhere around $25K for a loaded Premier. I am not sure how Chevy's (or GM's) incentives tend to work for a Volt. I did not pay attention to how low it got for the 2015 Volt at the end of last year and hope they did a 0% interest. Yet I wonder how they would handle the Gen 2 towards the end of the its first year of release.
Thanks for the help.
 

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I just bought mine two weeks ago here in Quebec, Canada and the interest rate was 1.99%. But I am sure it varies from province to province, and I am pretty sure it varies also from state to state. Good luck with your purchase.
 

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GM Financial is not doing the Volt any favors at the moment, 3.9% APR if I recall correctly. Best deal I could get right now is my credit union. 2.95% 60 months BUT every year since since time began they have rebated 1/3 to 1/2 of the interest.

A 2017 model won't have aggressive programs till 2017. Even then I'm expecting minimal incentives in non-CARB areas because inventories will be kept lean.
 

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Even if GM am doesn't give you 0% interest, you can easily do it yourself. Don't finance and just fund the car yourself. It means delaying the pleasure of a new car now and getting it later. Quite simply, how much of a car payment would you end up getting this fall if you financed $25K. If you financed for 5 years at 0% it's $417. Between now and this fall just save $417 into a separate bank account that you promise not to touch except for a car. if you buy a car in say Oct that account should have a little over $2k (assuming you contribute in June through Oct. Buy a $2K car at that point and continue to not have car payments. keep putting $417 or more into an account and in another year you) can sell that $2K car for almost $2K (it shouldn't go down too much in value since it has amReady depreciated) and get into a $6K car with the $4K you've saved. Keep moving up in car every year or two an eventually you will have enough cash to buy that new volt with 0% interest. Trying to buy it now because you want it now, but don't have the money to buy it now only means a lifetime of trying to play catch-up with your wants.

Think about it, it's mostly the same money except you will be paying $417 plus compounding interest if you financed it at any interest rate Also think I about who's paying for all those fancy bank buildings and VP's hefty pay and bonuses... the folks out there leasing and financing cars.
 

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In the same boat here -- the 2017 I ordered will be delivered to my dealership this week and I'm giving GM financial a shot at my business. There are zero incentives on the volt finance wise from what I can see, they use Ally bank. With an 811 credit score Chase bank here in TX, offered me 2.99% for 72 months (I'll do double payments the first year, I like flexibility) Wasn't too happy with that rate to be honest.

I've heard people getting 0% for 72 months but this was about a year ago it seems.
 

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In the same boat here -- the 2017 I ordered will be delivered to my dealership this week and I'm giving GM financial a shot at my business. There are zero incentives on the volt finance wise from what I can see, they use Ally bank. With an 811 credit score Chase bank here in TX, offered me 2.99% for 72 months (I'll do double payments the first year, I like flexibility) Wasn't too happy with that rate to be honest.

I've heard people getting 0% for 72 months but this was about a year ago it seems.
It took me 5 decades to figure out that having an 800+ credit score was a horrible thing, it means I've probably paid 6 digits in compounding interest over my lifetime. I used to be proud of reaching 845, now I'm ashamed and trying really hard for a coveted 0 credit score. Yes, I can walk into any bank today and probably get $500k-$1M loan with no issues, but I'm never going to do that.
 

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It took me 5 decades to figure out that having an 800+ credit score was a horrible thing, it means I've probably paid 6 digits in compounding interest over my lifetime. I used to be proud of reaching 845, now I'm ashamed and trying really hard for a coveted 0 credit score. Yes, I can walk into any bank today and probably get $500k-$1M loan with no issues, but I'm never going to do that.
YOu should listen to this man. He speaks the truth backed up by experience.
But you probably won't.

ALL of the real personal financial consultants will tell you to NEVER finance a brand new car.......especially one that is "loaded".
It is bad business no matter how you look at it.

If you really enjoy throwing your money away, throw some of it my way.
I'll happily take it.
 

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It took me 5 decades to figure out that having an 800+ credit score was a horrible thing, it means I've probably paid 6 digits in compounding interest over my lifetime. I used to be proud of reaching 845, now I'm ashamed and trying really hard for a coveted 0 credit score. Yes, I can walk into any bank today and probably get $500k-$1M loan with no issues, but I'm never going to do that.
YOu should listen to this man. He speaks the truth backed up by experience.
But you probably won't.

ALL of the real personal financial consultants will tell you to NEVER finance a brand new car.......especially one that is "loaded".
It is bad business no matter how you look at it.

If you really enjoy throwing your money away, throw some of it my way.
I'll happily take it.
I took out a 0%, 72 month loan on my '12 Volt. Don't see how this is bad in any way.
 

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I took out a 0%, 72 month loan on my '12 Volt. Don't see how this is bad in any way.
Here's the catch: if they were able to absorb the cost of that money for 6 years then they could have taken a lower price if you'd paid cash. So you likely ended up paying more than you needed to.
 

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I took out a 0%, 72 month loan on my '12 Volt. Don't see how this is bad in any way.
Here's the catch: if they were able to absorb the cost of that money for 6 years then they could have taken a lower price if you'd paid cash. So you likely ended up paying more than you needed to.
The 3k factory rebate was dependent on taking the factory financing offer. And the price was negotiated before any of the finance talk anyways. There was 0 downside to taking that 0% loan, aside from being potentially upside down...which I wasn't since I had a trade.
 

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I went through the dealership and financed with Wells Fargo at 1.99% for four years. I generally agree with the logic of paying cash when purchasing depreciable assets, but I would need to liquidate investments earning more than 1.99% (net after taxes) and that is not logical.
 

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I got 1.99% rate for 5yr from Bank of America. I financed everything other than the $7500 I'll get back from the govt and $1500 I'll get back from the State of California. I negotiated $6800 off from $40K MSRP (includes $1K GM cash and $750 conquest). So the final financed amount was $24200 ... Not bad for a $40K car.
 

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Quite simply, how much of a car payment would you end up getting this fall if you financed $25K. If you financed for 5 years at 0% it's $417. Between now and this fall just save $417 into a separate bank account that you promise not to touch except for a car. if you buy a car in say Oct that account should have a little over $2k (assuming you contribute in June through Oct. Buy a $2K car at that point and continue to not have car payments. keep putting $417 or more into an account and in another year you) can sell that $2K car for almost $2K (it shouldn't go down too much in value since it has amReady depreciated) and get into a $6K car with the $4K you've saved. Keep moving up in car every year or two an eventually you will have enough cash to buy that new volt with 0% interest. Trying to buy it now because you want it now, but don't have the money to buy it now only means a lifetime of trying to play catch-up with your wants.

Think about it, it's mostly the same money except you will be paying $417 plus compounding interest if you financed it at any interest rate Also think I about who's paying for all those fancy bank buildings and VP's hefty pay and bonuses... the folks out there leasing and financing cars.
Very good financial points. However, when you have a car that is on it's last legs and is starting to build up large maintenance cost then paying for a newer or new car isn't that bad. Especially, if it is the car my wife is driving up here in the foothills where cell coverage can be a bit spotty, then I'll pay a little interest for the peace of mind.

The key is know what your getting into and see if you can justify the cost. My other cars was on its last legs and I wanted something safe and new. In my case, I financed 24K at 1.99% will incur $1700 interest (yikes) with a $300/mo payment. However, I'm throwing an extra $100 every month and sometimes more. By the end of my loan, I'll have knocked of almost 2 years and about 1/3 of my interest off the total. Not only that but I'm saving on some gas by charging at work, so those cost also reduce the financial pinch on my wallet.

I've made a lot of financial sacrifices up to this point in my life (home, kids, work, etc), and up to this point we have been fairly frugal so I deserve something kind of nice and safe. With the AA technology, Lane Keep Assist, and Collision Alert, I definitely feel safer in my Volt than my previous car and I think the tech has saved me a couple of times. So I'm not a big fan of your plan where I'm driving an old car and stepping up every now and then. I've driven enough older, used cars in my life and sometimes you just have to enjoy life and treat yourself to something nice. Just know what your getting into and try minimize the cost as much as possible (i.e. charge at work, pay extra monthly, etc).;)
 

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paying cash is always the best method... I use that rule without exception when buying motorcycles, but cars? With the amount I'm trading in, and putting down on top, plus tax rebate it's not hard to afford at all. I'll probably be paying 350/month and just because I hate owing money/interest I'll make double payments each month at least for the first year.

Financing 27K. And recently got PMI removed from my house via re-appraisal, that's an extra 80 bucks a month towards a car note for changing nothing :) Not even factoring in the gas savings per month either (expected to be anywhere from 50 to 100 dollars depending on if I can charge at work)

For the net cost each month even with interest, it's totally worth it to get out of a bottom of the barrel Kia Rio and into a high tech Volt :) I'm single, no wife, no kids, own house and all I seem to do is work 6 days a week, I plan and budget and save but every now and then gotta use some of that money for something to make your life better :)
 

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Dealer originally quoted me 3.9% for 72 months. I went to a credit union and got approved for 2.74% for the same term (I have excellent credit). When I informed the dealer about the rate I received, they matched it - so I got 2.74%/72 with dealer financing.

-DJ
 

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Dealer originally quoted me 3.9% for 72 months. I went to a credit union and got approved for 2.74% for the same term (I have excellent credit). When I informed the dealer about the rate I received, they matched it - so I got 2.74%/72 with dealer financing.

-DJ
Very cool -- that's my strategy, when I go in to do the paperwork for my volt this week, I'm happy to let GM/Ally make a run for my business, I got 2.99 with Chase Bank, but they are in the dog house right now in my book, so I'll tell them if they can offer 2.74 for 72 months I'll go with them. Excellent credit here too, 811 score. Would rather them do it on the spot as well since it's usually faster than them calling/faxing back and forth with chase while I'm sitting there in their office tired as hell (I work nights, so when I do take delivery I'll already be beat)
 

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Back in April, I got 2.04% over 60 months with Chase Bank. I arranged the loan through the website. What was funny was I first went into a nearby branch and they quoted me 3.5%. I then went online and got a 2.4% preconditional quote. After filling out all the paperwork, the online agent said that they got it down to 2.04%!
 

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Back in April, I got 2.04% over 60 months with Chase Bank. I arranged the loan through the website. What was funny was I first went into a nearby branch and they quoted me 3.5%. I then went online and got a 2.4% preconditional quote. After filling out all the paperwork, the online agent said that they got it down to 2.04%!
Chase has pissed me off multiple times this past week - tried to fill out the auto loan application on their site after logging in. Problem is when it comes to putting your SSN in, there's some error in actually displaying the box this happens to me on multiple computers, doesn't matter if I'm using firefox, chrome, IE. Informed them of it, no help. Wasted an hour of my life in the branch office, when I asked some follow up questions via their secure messaging center they told me to call their group that manages auto loans. Got the rudest POS service rep who never answered my questions and refused to transfer to someone who could. Complained about it online, and got a call back from someone who was trying to talk to me about a truck loan I had through them that's been paid off for almost 2 years ago. Seriously, I've bought and pair for something like 4 brand new cars through them, and it's never been this much of a cluster to get basic information or answers out of them.

From my perspective, every single chance they have had to show they 1/2 way care, is just met with them showing how incompetetent they are.
 

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I took out a 0%, 72 month loan on my '12 Volt. Don't see how this is bad in any way.
It is bad because the price you paid for the vehicle probably was several THOUSAND dollars more than someone who paid cash or financed it elsewhere.

If you think the dealer and/or the finance company is going to forgo their profit in a deal like this........I have some ocean view property for sale in Arizona that you might be interested in.
 
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