Lease Number

[dknn79]

MSRP: 44575
Negotiated Price: 40834.11
Residual: 57% (or 59% with 12k/year)
----Salesperson states that the residual goes down a percent because of navigation.
Interest Rate: 2% --- I believe the rate should be 1% (Tier 1 credit)
Tax Rate in State: 7%
Aquisition Fee: 795
Yearly Mileage: 15,000

His payments comes to 441/month for 15k year and 416 for 12k/year (including tax). I keep running the numbers through a lease calc and it seems like his numbers are off. This is a lease through Ally, no money done, no security dep., and first payment waived. Any thoughts?

[DonC]

My thought are that we don't have enough numbers but the numbers we do have look right. Given that you don't seem to be putting anything down, if we use the lease cash the numbers look almost exactly right IF you're using 2% as interest. I'd ask more about that. At 1% I get $420 without the waiver of the first month's payment.

Now sure if you're in CA but the Ally lease in CA had different terms so it may be 2%. I haven't seen anything about that so I don't know.

[dknn79]

This is for a lease in Georgia. Do the numbers look like it has taken into consideration the $4445 Ally cash?

[Henry_FL]

I would just ask for verification from Ally, that's the rate they require. One thing not posted is the taxes which are rolled into the lease and will make the payments higher

While some are getting lower payments, there not loaded cars or 45K miles for the term of the lease

[DonC]

I used $3070 for the lease cash. Maybe that's not right but I was thinking it was something like that. There is another way to look at your lease. The advertised special lease is $369/month on a base Volt with an MSRP of $39,145. Your car costs $40,834 and you're looking at 15K miles. Assuming you'll lose 60% on the options, and assuming the additional 3000 miles a year cost $.10/mile, that's about $2000 more over the course of the lease or $55/month. Adding this to the advertised special lease rate of $369 gives you a monthly lease payment $424. Add 7% tax and you're at $454.

Note that you may not lose 60% on the options. The number could be less. On the other hand, going the other way Henry has told me that the additional miles from 12K to 15K get priced at a full $.20/mile, which means the miles could be $1800 rather than $900. The point is that without seeing all the numbers your quote seems very much in the ballpark.

[dknn79]

I'm new to the lease thing, but what other numbers are needed to figure out the payment?

MSRP: 44575
Base Cap Cost: 40834
Acquisition Fee: 795
Cap Cost Reduction: 4445
Adjusted Cap Cost: 37184
Residual Value: 25854 (58%)
Money Factor: 2% (According to others, should be 1%)
Term: 36 months
Sales Tax: 7%

Using a lease calculator I get

Monthly Payment of 367.04 + 25.89 tax = 392.73

Depreciation: 11330
Finance charge 1884
Total Sales Tax: 1236

Total of All Payments: 14139


I keep hearing the money factor is 1% and I have read other forum members getting 1% and that this number is set by Ally. However, it seems like dealers are marking this number up for profit.

[DonC]

Leases are very complicated because there are so many parts and the dealers never seem to want to explain them. You have our empathy.

If you put these numbers into a lease calculator you get what you're saying. However, there are always costs like taxes and registration fees that you have to account for. I'm thinking that your $4445 cap reduction isn't all going for cap reduction. Can you get an lease sheet? Here's a sample of what I'm talking about. Note that the cost of the car went up after rolling in all the extra costs so the base cap cost was higher than the agreed upon purchase price. http://gm-volt.com/forum/showthread....ease-Help-ASAP In this case he started with $5370 in order to get $4136 in cap reduction. The rest went to misc fees and the first month's payment. (I think this is CA where the lease cash may be different BTW).

[holland_patrick]

call stingray.. your close enough for a day trip if needed

[NEALDIAMOND1957]

First of all , where are you getting this "Negotiated Price" from.....If that price reflects the " Cap Cost Reduction" monies , then i might believe it , but if thats before , theres a Huge problem....

[patrick40363]

I live in California and leased a 2012 NON-hov Volt last March. I paid $500 out the door for title/DMV/tax for a car with a MSRP of $45070. My monthly payment is $417 plus tax for a total of $450.95 mo. This is for 12K miles per year. I also ended up with US Bank which was a better deal than Ally.