Special kudos to Leon S for finding the dealer that’s cutting some serious deals on the Volt this month. I went in without having to negotiate. Completely painless process. All paperwork was ready. Spent about 15 min signing papers. This is probably the easist lease I’ve ever done in the 12 years that I have been leasing cars. Here is how things shook out:
Leon S picked up his Volt and got a fantastic deal. I told him to have his dealer contact me following day. I inquired about a white Volt with only the safety package 1 and black cloth interior. The car was not on the lot but it was arriving next week. The offer was $500 due and $337 per month. The discount was a total of $6100. $3200 off MSRP, $2400 lease cash from US Bank and $500 lease conquest. I was at another dealership last weekend and was offered $774 due and $361 per month for a lesser vehicle (base model without safety package). I cross-shopped it with yet another dealership and the best they did was $1100 due and $335 per month. So here is were things get interesting…I was poking around the Volt’s website playing around with the car configurator. I noticed that the Volt look pretty sharp in red, but I was a turned off by the fact that the paint had a $1000 markup, so I didn’t consider it. However, while browsing through dealer inventory, I noticed that the dealer that Leon S used had a red one with leather and safety package 1 which is exactly what I was looking for. The price difference between the white one (that’s arriving next week) and this red one was only $605 bucks. So I had the dealer run some numbers and this is what I got back….$500 due at signing. $336 per month. $6500 discount ($3600 dealer discount, $2400 US bank lease cash and $500 lease conquest). But wait! There’s more! $500 Costco Cash Card AND the $1500 state rebate. In-sane. I just couldn’t pass it up. So I rented a car one-way and drove 50+ miles out to get it Saturday morning.
So how do you calculate a lease for the Volt using the RWG Calculator?
Sale Price (after factoring all rebates) $31125
RES 39% + 7500 (federal rebate for EVs)
MF 0.00057 (1.37%)
Fees rolled in $1050 (total driveoff was $1550, but I wanted to roll in $1050 of it and only pay $500 at signing)
Monthly with 9% tax $336.58 per month.
The actual lease payment in the contract was $336.71. My estimate was within 13 cents of the actual payment. Pretty awesome if you ask me.
So far, I am enjoying the car. I think it’s a fantastic deal and I highly recommend it if you can live with it’s looks and size. My drive back from the dealership was about 59 miles. I used 0.9 gallons of gas (I was switching back and forth between full electric and gas) and I still had 15 miles in electric mode left. This year, I have been spending about about $213 per month on gas between my Sonata and the Pilot. For the coming year, I expect to easily cut that by half. My payments drop from $362 per month to $336 and I will have $2000 in my pocket in the next month.
I’m extremely pleased with this lease. Probably the best one I have ever done.
If you are a CA resident and are interested in a Volt, let me know and I will refer you.