Info on Volt Leasing

[bbm]

Earlier there was a very reasonable Volt lease offer (~$350 per month), but I heard that it was going to be phased out.

I am unable to find any info about this on Edmunds or the Volt official site. Does anyone out there have any info on whether the lease is still offered or when it will be phased out?

Thanks.

[DonC]

I ran into information about this on the GM site a few days ago by mistake but I can't find it now. Sorry. Maybe someone can jump in and help. My memory is that the lease deal was still active but near the EOL. It may be extended.

More importantly, you need to make sure your dealer is participating. It seems like a lot of dealers aren't. That's a show stopper because if your dealer isn't participating then it doesn't matter if the program is ongoing.

[Cari]

On paper, it is to end on Feb 28th, but this is just common lease timeframes where they can change it legally if needed. However, since nothing has changed other than a larger amount of the cars being made for this year, very unlikely for any change to be made in the lease terms. While GMAC is pondering getting back into leasing, they are months away from this and GM seems happy with US Bank from all accounts. Many of us aren't happy about how US Bank puts the $7500 back on the end if you buy, but you aren't SUPPOSED to buy when you lease.

Paul (Cari's husband)

[JoeBroSD]

The current lease deal with U.S. Bank expires on 2/28/2011, but there is always a chance that it will be extended (it's already been extended once).

[bbm]

Thanks for the info.

[jeffhre]

So if you talk to a dealer and they are not using US Bank, they are wasting your time. It has to be a lease through US bank to get the deal.

[Rich Remund]

The lease offer has the advantage, of an additional $2,000 kicked in by GM. So you leasing the car with $9,500 in rebates. That was my deal. you will need to factor in the Tax on the sum of the 36 month payment, along with any additional fess.

[DonC]

The lease offer has the advantage, of an additional $2,000 kicked in by GM. So you leasing the car with $9,500 in rebates.

The downside is that you have no upside on the residual -- you're essentially buying the car without the $7500 rebate.

[Rich Remund]

Please explain what you mean.... You can't have your cake and eat it too. The leasing company takes the rebate to off set the residual value on the car. Your not leasing a 41,000 car for 2500 down and 350 a month. Us bank is taking a caculated risk here. If you choose to buy it at the end of the lease, you don't get the 7500, it off set the purchase price.. It's hard to beat the deal, in my opinion .. Your buying a
percent of the cars useful life, that's what leasing is.

[DonC]

Please explain what you mean.... You can't have your cake and eat it too. The leasing company takes the rebate to off set the residual value on the car.

That's what the finance guy at the car dealer would tell you but inflating both the MSRP and the residual is a bad deal for the consumer because it eliminates all the upside. Just run the numbers. If you just bought the car (41,000-7500 = 33500) and sold it at the residual price of 25,540 after 36 months you'd pay 7960. If you lease it from US Bank you pay 15445: 2150 cap reduction + 695 acquisition fee + 12600 in monthly payments (not including tax).

The only way the lease is a good deal for a consumer is if the the Volt has a market value of less than $18,750 after three years. Otherwise it's a bad deal.