my volt MSRP is $34,295.00
my rate is 1.66% (based on my region, divided by 2400 to get the money factor of .00069167)
my standard rebate from general motors is $5400 (again, based on my region)
most people have a current lease… bringing it to $5900 in rebate.
total price of $28,395.
If i set up a lease structure for 10,000 miles and 36 months just using that, it will cost my customer $417.22 per month with no money due at signing. so essentially 35 payments instead of 36.
with my DEALER DISCOUNT… i pull off $4000 from MSRP.
my new selling price is $30,395 before rebates are applied… which then it becomes $24,395 when rebates are applied.
my new lease price is $290.16 for the same amount of miles, payment, and $0 down
GM does not allow movement on money factor, rate, or residual. the only thing you can negotiate is the amount of discount on the car. which is up to that salesperson. and that dealer.
Thanks for the breakdown. Pretty sure I get it at this point.
I’ll say what I said like 20 messages ago … wish you were in PA - I’d jump at that deal right now.
Sounds like they don’t allow movement on the standard rebate either … $5900 - or in my case, $5400 since I don’t have a current lease (good to know).
Earlier - the same dealer I’ve been dealing with on the Premier - quoted me on a Volt LT - the following:
MSRP $34,690
"bottom line" price of $29,200
for monthly payment of $432 - taxes and tags included.
So that is clearly just the $5400 right there … with no dealer discount. I am pushing them to go further, but like I said, no one is doing so at this point.
That price is only for leasing as the rebates are different for lease/purchase. On a purchase, you claim the $7500 federal rebate yourself when filing your taxes, so it’s effectively cheaper if you qualify for the whole $7500 rebate.
Thanks Jon, I got that $7.5K fed tax rebate and $1.5K CA rebate part but not sure about the selling price part. I guess if purchase, the selling price will be $28,395 in the above @chevysalesgirl example (or somewhere along those line).
the thing to note is that the $1K purchase rebate and the 60 months 0% APR are not always combinable, don’t know in this case (at least if you wanted the 60 months 0%)
Was told today that PA only has $4400 GM incentive - for some reason. I can’t get the bottom line on a Volt LT lease anywhere below $415/month - talking to 4 dealers. Looks like I’m SOL.
premier’s did always have lower rebates than LTs, thought it was less than a $1000 delta, but maybe it is. As we’ve said, Volt’s are not leasing well ATM in general as GM lowered incentives from where they were for a while back and through june.
- I’d jump at that deal right now.