Comments on a lease proposal for 24 month 2012 Volt? (please)

[mdh]

I've never leased a car before... fully loaded Volt, 2012
List $45,340
Net selling price $43790
Total cap $$45,779
Minus all rebates net cap $38,538
Monthly payment $438.95 (with taxes)
15K miles/24 month lease
Money rate of 2.2%
Residual $29,924.40
Cash down $1,541
I am in California... tax is 8.375%
GM has this deal where they are doing employee discounting type of think for customers... offering a rebate of $5,700... looks to get me below invoice. My gut tells me I can eat a bit more into the dealer hold-back.
I am based in Silicon Valley.
Thank you in advance.
Deal has included destination charges (don't recall amount)

[Xi2d]

First, search/read up on how to calculate lease payments.

I just did a 24 month/15k miles per year lease on a base volt, base color (grey) with mylink as the only add-on option through Keyes in Van Nuys:

- 2500 under invoice (you can confirm invoice pricing from Edmunds/Truecar.com)
- 5700 contributed to Cap cost reduction (CCR) by Ally Bank
- Rate/MF 1% (appears your dealer marked it up by A LOT)
- 66% residual
- 308 monthly including tax
- 1200 due at signing (first month, security deposit, taxes on CCR, doc fee, tire fee, DMV)

Read the 11 page Keyes thread and then give Rick a call. Not sure how long the 2500 under invoice will last . Not sure of how much time you have. Southwest flies out of SJC to Burbank a couple times in the morning for ~$100. Someone from Keyes can pick you up at the airport. Do the paperwork and drive it back up. See you in the HOV lane. Good luck.

[ViperRT10Matt]

Who is writing these 24 month leases? Are they new? When I bought four months ago, only 36 month leases were offered from Ally.

[mdh]

i think it was US bank?

[mdh]

Contact CharlieO at Stingray before you do anything. Be sure to confirm the CA HOV stuff with him.

Thank you so much... they are based on Florida? I've never purchased a car out of state...does this create any issues?

[DonC]

Note you aren't eligible for the CARB rebate if you do a 24 month lease. The minimum term is 36 months. Depreciation is also higher in the first and second year so the payments will do down for a 36 month lease.

[mdh]

Note you aren't eligible for the CARB rebate if you do a 24 month lease. The minimum term is 36 months. Depreciation is also higher in the first and second year so the payments will do down for a 36 month lease.

Ok... i will be more open and consider a 3 three term.. i only saw something like a $15 per month difference or something. I've never leased before... tell me, are leasing companies jerks when you return the car?

[Sphyrna]

I agree with Xi2d. Since you're in CA contact Rick at Keyes. He's provided many volt owners on this forum a great deal. Unless you have bad credit the MF should be 1%. So you could be getting screwed there. You should also be able to do better on the sale price.

[mdh]

I agree with Xi2d. Since you're in CA contact Rick at Keyes. He's provided many volt owners on this forum a great deal. Unless you have bad credit the MF should be 1%. So you could be getting screwed there. You should also be able to do better on the sale price.

thank you... i have a call into him.

[KEYES CHEVROLET]

thank you... i have a call into him.

Rick is out to beat everyone, so trust me when I say you will be very well taken care of at Keyes! I think he will come back with a better lease offering than what you are being quoted.

Rick or I will be able to take great care of you! Hope you make Keyes Chevy your choice of where you get your new Volt!

I may meet you in person at Keyes when you pick up your new Volt!

Let me know if I can help in anyway!

Thanks!

Shawn