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Thread: Volt Lease

  1. #1
    Join Date
    May 2011
    Posts
    14

    Angry Volt Lease

    I contracted to take my dealer's demo in April, and I'm supposed to pick up my 2011 Volt at the end of this month. So I call their finance department to discuss leasing options and I was told that there are none! Not only that but that there never have been any leases for the Volt. This is really strange since I've read a lot about the GM/Volt lease on this site. Does anyone know anything about this? I am really frustrated.

  2. #2
    Join Date
    Jul 2010
    Location
    Atlanta GA
    Posts
    1,155

    Default

    Check out the lease thread in the FAQ -- see link in my sig below. We have info there that was gathered in Dec 2010 when the first Volts came out and the first leases were signed. It might be dated info by now, but it will get you started. Some dealers weren't signing up for the lease plan (they have to agree to it too).

    Being a demo car might be a factor.

    Brace yourself, leases are complicated.
    2011 Volt #284, ordered 30-Jul-2010, built 30-Nov-2010, shipped 15-Dec-2010, delivery 22-Dec-2010, lease return 22-Dec-2013, www.FirstVoltInGeorgia.com
    - The FAQ -- answers to your Frequently Asked Questions about the Volt
    - how to track your Volt order, meaning of status codes, railcar tracking
    - do yourself a favor and register at VoltStats immediately so you can track your Volt's performance

  3. #3
    Join Date
    Aug 2010
    Location
    Detroit, MI
    Posts
    3,237

    Default

    @ heacockb,

    There was a lease program through US Bank, however that expired on July 5th.
    If you have any further questions feel free to contact the
    Chevrolet Volt & Spark EV Advisor Team:
    (877) 486-5846
    Chevrolet Volt & Spark EV Advisor Hours:
    Monday - Friday 8AM to 9PM EST.
    Saturday 11AM to 8PM EST.
    Closed on Sunday.

    socialmedia@gm.com
    https://twitter.com/ChevyVolt
    http://https://www.facebook.com/chevroletvolt

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  5. #4
    Join Date
    Jul 2010
    Location
    Atlanta GA
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    Default

    And elsewhere, about a week ago a Volt Advisor posted:

    "No information for the 2012 Volt lease program has been released yet. From what I have heard, information will released very soon."

    I take this to mean that there will still be a lease program offered, but that the details haven't been released yet. Based on our expeirences back in December, those details may not come out until literally the day that the first 2012 Volt is delivered!
    2011 Volt #284, ordered 30-Jul-2010, built 30-Nov-2010, shipped 15-Dec-2010, delivery 22-Dec-2010, lease return 22-Dec-2013, www.FirstVoltInGeorgia.com
    - The FAQ -- answers to your Frequently Asked Questions about the Volt
    - how to track your Volt order, meaning of status codes, railcar tracking
    - do yourself a favor and register at VoltStats immediately so you can track your Volt's performance

  6. #5
    Join Date
    Jan 2011
    Location
    Syracuse, NY
    Posts
    322

    Default

    Quote Originally Posted by Chevrolet Customer Svc View Post
    @ heacockb,

    There was a lease program through US Bank, however that expired on July 5th.
    This does not make sense ? My son was in discussions with a dealer this week about doing a US bank lease on the Volt. They did not say anything about the lease deal being terminated.

    Last week I also talked to Criswell about a leasing a GM executive Volt and he said it was still available as long as the mileage was less than 5k.
    2011 Black Volt # 613 Lifetime MPG 95 total miles 36,000 (Lease turned in)
    2011 Red Volt # 3699 Lifetime MPG 141 total miles 37,736
    2013 Red Hybrid Tahoe
    2014 Red ELR Lifetime MPG 236 total miles 5927
    RIP [Red Volt # 1247 Lifetime MPG 99 total miles 3239]
    http://www.communityenergyinc.com/

  7. #6
    Join Date
    May 2011
    Posts
    22

    Default I did the lease on July 27th

    I just got my volt on July 27th, with the lease. The MSRP (which is what I paid) was $43k and change with the options that were included. I put down $5,000 and the lease payment was about $350 (it came to $385 or so with the tax). It was through US Bank and was easy as can be. The residual was $27k, which seems like a lot, bit that is what makes the lease payment reasonable.

    I dealt with Winter Chevrolet in Northern California and they seemed to get it done very easily.

    Best of luck!

  8. #7
    Join Date
    Jul 2009
    Location
    S. California
    Posts
    1,052

    Default

    Quote Originally Posted by Mikejarrett View Post
    I just got my volt on July 27th, with the lease. The MSRP (which is what I paid) was $43k and change with the options that were included. I put down $5,000 and the lease payment was about $350 (it came to $385 or so with the tax). It was through US Bank and was easy as can be. The residual was $27k, which seems like a lot, bit that is what makes the lease payment reasonable.

    I dealt with Winter Chevrolet in Northern California and they seemed to get it done very easily.

    Best of luck!
    Yes US Bank is clearly very familiar with leasing Volts. Though I would assume that GM is no longer tossing in the kicker to help buy down the lease payments.

  9. #8
    Join Date
    Aug 2010
    Location
    Detroit, MI
    Posts
    3,237

    Default

    Quote Originally Posted by Chevrolet Customer Svc View Post

    There was a lease program through US Bank, however that expired on July 5th.

    Sorry about that heacock. I posted to soon. After the expiration on 7/5, it was renewed and good till September 6th.
    If you have any further questions feel free to contact the
    Chevrolet Volt & Spark EV Advisor Team:
    (877) 486-5846
    Chevrolet Volt & Spark EV Advisor Hours:
    Monday - Friday 8AM to 9PM EST.
    Saturday 11AM to 8PM EST.
    Closed on Sunday.

    socialmedia@gm.com
    https://twitter.com/ChevyVolt
    http://https://www.facebook.com/chevroletvolt

  10. #9

    Default

    There is a lease program with US Bank through 9/5/11...Call me with any questions..I have a Demo for lease or purchase as well.TY Neal @ Atlantic Chevrolet 631-665-0002

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  12. #10
    Join Date
    Jul 2010
    Location
    Atlanta GA
    Posts
    1,155

    Default

    And this once again confirms what we've been seeing since December: the lease program is only renewed for two months at a time. In this case it expired on July 5th, was renewed, and now expires Sept 5th.

    Come September maybe it'll get renewed again, maybe not I suspect that GM is waiting for other financing companies to be comfortable with handling the tax credit, and which time they will stand down their deal with US Bank.

    Is GM still kicking in the $2000 of capital reduction?
    2011 Volt #284, ordered 30-Jul-2010, built 30-Nov-2010, shipped 15-Dec-2010, delivery 22-Dec-2010, lease return 22-Dec-2013, www.FirstVoltInGeorgia.com
    - The FAQ -- answers to your Frequently Asked Questions about the Volt
    - how to track your Volt order, meaning of status codes, railcar tracking
    - do yourself a favor and register at VoltStats immediately so you can track your Volt's performance

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