Volt Lease Bait and Switch or...

[AdamC]

Hey, people. So I'm dying to get a Volt, and when I saw the add on both Chevrolet.com and TV claiming the Volt could be leased for $249/month with $2,470 down for 24 months, I flew to the dealership. Long story short, they ended up asking for $349/month with @$2,500 down on a price of $39,950.

Here are some mitigating factors that MAY help explain some of the hike in price:
I opted for a 15,000 mile/year limit.
"Taxes, title, license and dealer fees" (as it says on Chevy.com) were not included in the $249 quote.

Here's my question: Am I being taken for a ride? If so, how bad is it? I know taxes where I am (MA, 6.25%) add a little ($249 x 1.0625 = $264.56), but I dunno, I think these guys may be trying to scam me.

(FWIW, I made my own Excel spreadsheet that's based on the lease calculation formula, and with 1% interest and 57% depreciation, I got $316.)

Should I expect something closer to $264.56, or is baiting and switching just a part of the leasing game?

Any replies or advice would be appreciated.

BTW, it was Herb Connolly Chevy. Not tryna bash them, just thought it may be useful info.

[clipboarder]

Just to be clear: is that the TOTAL monthly payment including all fees and taxes?

[DonC]

Some states like TX and VA charge sales tax on the entire cost of the vehicle. The advertised lease does not apply to HOV eligible vehicles. Not sure if either of these factors impacts you in MA. If you post details -- purchase price, tax, lease cash, other chargers, residual, and interest rate -- you should get a decent answer to your question.

Just a few observations. A 15K mile lease should increase the residual by 2% over a 12K lease which in turn should increase the residual another 2% over a 10K mile lease. That's $67/month (actually it would be a little higher because you'd be paying interest on that). That brings you to $316/month. Add sales tax and you're at $336/month. That leaves $13/month unaccounted for, which works out over 24 months to be about $312 for title, license, and dealer fees. So I'd say you are definitely not getting scammed on this.

[Selling Volts At Sundance]

Thanks Don for your astute clarification. Now the fun happens!

If you now save $50.00 a week by NOT buying $4.00 Gas after your "bout a buck a day", electric cost, look at you new Net Cost To Drive this way... You now may be saving $200.00 a month, each month for the duration of this low cost lease!

You can then say that the Net Cost to Drive this machine is $149.00 a month for a 2012, $40,000 car! And this my friend is insanely cheep!

......In most states, at participating Dealers, on the standard equipt Amazing Chevy Volt!

This is less Net Cost to drive per month then the average $10,000 used car plus gas, no warranty, most likely over 70,000 miles.......

In my very humble opinion!

Best!

Thomas J. Thias

Sundance Chevrolet

[USe-car]

Hey, people. So I'm dying to get a Volt, and when I saw the add on both Chevrolet.com and TV claiming the Volt could be leased for $249/month with $2,470 down for 24 months, I flew to the dealership. Long story short, they ended up asking for $349/month with @$2,500 down on a price of $39,950.

Here are some mitigating factors that MAY help explain some of the hike in price:
I opted for a 15,000 mile/year limit.
"Taxes, title, license and dealer fees" (as it says on Chevy.com) were not included in the $249 quote.

Here's my question: Am I being taken for a ride? If so, how bad is it? I know taxes where I am (MA, 6.25%) add a little ($249 x 1.0625 = $264.56), but I dunno, I think these guys may be trying to scam me.

(FWIW, I made my own Excel spreadsheet that's based on the lease calculation formula, and with 1% interest and 57% depreciation, I got $316.)

Should I expect something closer to $264.56, or is baiting and switching just a part of the leasing game?

Any replies or advice would be appreciated.

BTW, it was Herb Connolly Chevy. Not tryna bash them, just thought it may be useful info.

That's almost EXACTLY how it went for me. Also, that $249 price is for a basic Volt with no options. You got a good deal, and I got a good deal.

[RScott]

Here's the fine print for lease taxes in Massachusetts: http://www.mass.gov/dor/businesses/h...-on-motor.html

My guess from reading that is that just the downpayment and monthly payments would be taxed.