Sorry the picture is a little blurry.Volt 002.jpg
Wash but the Ally deal should get better as you add options (higher residual percentage).
I plugged those numbers into the lease worksheet and get pretty close to those numbers. When I include my local taxes and fees, I get $443/month with $2686/1853 initial payment for Ally/US Bank respectively.
When you fully load on the options ($46,760), Ally beats US Bank by $33/month (not including down payment differences).
I got pretty close with my calculator as well.
I'm in NC too. What did you use for the local fees? I know the tax rate is 3%
Anyone willing to upload their calculator?
With the Ally Lease where does the $7500 tax credit go?
never mind found it.
Chevrolet divides its Sales and Marketing profile into different regions across the USA. Currently selling and leasing here in the North Central Region.
The 2012 Amazing Chevy Volt EREV Ally/ US Bank Guidelines are posted below. While marketing of product and incentives may vary nationally from region to region, state to state, I personally think that subject to state law the programs should be similar.
Keep in mind that in both the Ally Bank and US bank leases as shown below the $7,500.00 Federal Tax Credit is captured by the leasingcompany and results in a dollar per dollar reduction of the lease payment to you the lessee.
The $7,500.00 is a benefit to you NOW without the concern for side notes, tax fillings and possible tax non-qualifications!
We now know that the Volt Lease is back for model year 2012.
We know that in most states the lessee pays a use tax only on the scheduled lease payments and NOT the MSRP or MSRP+.
We know therefore that the 3 year lease is ideal also because the turn in time may well happen as Volt Gen 2 arrives..........No 5-6-7 year contracts.
We know that the Fed $7500.00 is captured by the Lessor, US Bank/ Ally and they state "Us Bank as the lessor holds title to the vehicle and is eligible for the tax credit. The Credit DOES NOT go directly to the customer ( lessee ) leasing the vehicle. The lessee receives the benefit of the tax credit as an ENHANCEMENT TO TO THE RESIDUAL VALUE..."
Ally Bank states 36 month lease residual is pushed to 63% using the Fed $7,500.00!
No side loans or other fancy arangements...the $7500.00 credit is a price reduction NOW!
I am sorry for all the confusion that is out there. This is a revolutionary new concept in transportation for the masses. 26 states in the middle of the country are finally receiving their first retail shipments and because this is such an intense change for all involved there will be lack of information, confusion and misunderstandings as this amazing machine takes the country by storm.
Last edited by Recoil737; 11-09-2011 at 05:57 AM.
Where are these leases coming from? I've spoken with two different dealers here in the Cleveland area, and both came back with $500+ leases for 39 months with $4,000 down on a $45k Volt.
Great site, by the way. First post!