US Bank Lease offer 1/4/11-2/28/11

[Merc1Skymaster]

GM and US Bank are working together to provide these programs. Subvented programs such as these are driven by the manufacturer.

[Merc1Skymaster]

Paul,
The minimum credit score is 650 . Score is not the only factor in a credit decision.

Us Bank does not offer direct consumer leasing. This Bank through dealer to customer is called indirect lending. Aside from that US Bank is not a dealership and does not have direct access to vehicles.

I can not address any specific dealerships reasoning . It would only be speculation on my part and I would rather not.

[bjhorton2005]

The dealer told me I had a 660, and that US Bank required a 700 for approval on the Lease.

[Cari]

GM and US Bank are working together to provide these programs. Subvented programs such as these are driven by the manufacturer.

Merc1Skymaster,

Any knowledge of the lease being extended or any changes coming regarding leasing for March?

[adamsocb]

Merc1Skymaster,

Any knowledge of the lease being extended or any changes coming regarding leasing for March?

Good Question. I was on track to get my car in February (built 1/26), but alas it is still at the factory. No way it will make it to CA for at least another 3-4 weeks.

[adamsocb]

So...
Extension or not? It may be moot for me since due to much faster than expected rail transportation my car may be ready for delivery by Monday. The question is that if for some reason it takes more than 4 days to get from the rail distribution center to the dealership 25 miles away should I close the lease on Monday without seeing the car. I really hate to do that but I don't want to miss the promotional lease deal either.

What to do...

[Cari]

Guess it was a waste to ask him this question. It appears he pops in, makes 4 posts and doesn't come back for a month?? Starting to question if he really knew things or cared. Meanwhile, since my Volt is on a non-moving train as far as I know, have to figure out if I am going to push to do the lease paperwork this weekend or just risk possible change in March.

Paul (Cari's husband)

[burgandy25]

so what are your buyout prices at the end of your leases? IF you wanted to buy your Volt after your lease is up?

[lcvolt]

Guess it was a waste to ask him this question. It appears he pops in, makes 4 posts and doesn't come back for a month?? Starting to question if he really knew things or cared. Meanwhile, since my Volt is on a non-moving train as far as I know, have to figure out if I am going to push to do the lease paperwork this weekend or just risk possible change in March.

Paul (Cari's husband)

so what are your buyout prices at the end of your leases? IF you wanted to buy your Volt after your lease is up?

I read in the forum somewhere that a person paid a total package of $55K for leasing a volt from US Bank. This is way higher than buy a Volt with MSRP + sale tax+ interests from a credit union. Plus your dealer is collecting $7500 tax credit. The current rate of credit union is between 3.3-3.9% APR. GM dealers also have credit union loan program in each state. Perhaps credit union is the way to go for a loan.

[Cari]

Well.. I did the math and for no more than we are going to use the Volt over the next 3 years, a lease was perfect. If one looks at the total out of pocket for 36 months, a loaded 44,695 msrp with taxes of about 2700 in Texas means 550 a month or less averaged after down payment interest, etc.. So, less than $20k and we can move on to the latest version. Perhaps it would be worth more than the estimated value and a purchase at that time might be a good idea, but it almost never is... so to each their own. We would not have seen the tax credit anyway as we don't have that kind of tax liability. Now, if it was a REBATE, then we would have purchased.

Paul (Cari's husband)