$279+ Tax for 36M Lease (non-hov) with Leather and Nav a good deal?

[Ready2plugin]

Our local GM dealer is running a special on non-hov cars (with leather and nav) at $279+tax with $4k down on a 36 month lease (0 security deposit). Downside is that only 10k miles per year (I would need to talk them up to at least 12k to be safe). Is this a good deal for those that don't need the HOV?

[Mike McG]

Just take over my lease. 45k msrp, 35 months left, 12k a year lease 387/month

[Mike-o-Matic]

Just take over my lease. 45k msrp, 35 months left, 12k a year lease 387/month

Mike, any reason why you would give up your Volt?

[Charge]

Not a very good deal if you ask me. I leased a 2012 fully loaded (NON- HOV) Volt three months ago for $399. CA tax included with $1K down No other fees or out of pocket cost. And that was 12K miles per year.

If you add the $4K back into the monthly ($279 + $4K/36 = $390) it's way too much IMHO. And you have to add CA tax to that $390 and it's only 10K per year. Typical case of the dealer attracting people with a low monthly payment.

Call Boardwalk Chevy in Redwood City... that's where I got mine. They seem to want to sell a lot of Volts.

[Ready2plugin]

You're right, not as good as your deal at Boardwalk. I emailed to see if they would add miles or come down and used your lease deal as an example, and they would not match. I'll see what Boardwalk can do. Thanks!

[DonC]

The answer will be "Yes -- very good" but you want to run the numbers for yourself so you understand what's happening. Residual should be about 61% (For 12K miles w/o Nav it's 60% so I'm guessing). GM is kicking in $4445 as a "cap reduction" (lease cash) but same difference. There is also the $7500 which will reduce the monthly payments. First monthly payment and security deposit waived. Interest is 1.1% (I think). An extra 2k miles a year should run you about $20/month.

There are some other threads you might want to read as well.

[AZ_Mike]

In my opinion not that good of a deal. I have seen 12K mile per year leases with no money down for just a little more advertised right here on this forum.

[Henry_FL]

For a loaded Volt, its a great deal, some can get the similar payments with nothing down, but its a base Volt, the 4K covers all the bells and whistles

[patrick40363]

Remember when you put money down($4K in your case) that it would be lost if the car is totaled in an accident. You don't get the money back from the insurance company. you are better off putting no money down and having a higher monthly payment.

PK

[Ready2plugin]

Thanks for the advice, I'll see if there is away to change the down.