Chevy Volt Leases and $7,500 Tax Credits

Ask the Hackrs
1

Hello,
I’ve searched through earlier posts, but I didn’t see a definitive answer. Any guidance would be greatly appreciated.

I was considering leasing a 2017 Volt. I know that the leasing company is the one receiving the $7,500 tax credit, but is GM using that money to inflate the residual? Or is the one dealership that I’ve talked to holding the money back. I wouldn’t expect to receive the entire $7,500, but I would expect some of it to be available. Chevy website doesn’t list any deals right now for Volt leases either.

Thanks

2

GM Financial passes on a portion of the $7,500 federal tax credit. Everyone gets $4,610 ($4,235 on Premier model), while those in CARB states (e.g., California) get an additional $2,250 for a total of $6,860.

3

They are either retarded or holding back the money…or both.
Everyone can get at least 4610 lease cash (LT)

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4

I was told by a dealer in DFW that the money is “already factored in the lease” which sounds like complete BS. I think that they are holding back but I would love a definitive answer here if anyone can provide.

5

Show that dealer the below info, then ask him why he continues to lie to you. Then tell him you’ll never buy a car from his dealership, and will tell anyone and everyone you know to avoid his dealership as well.

I’ve heard Classic Chevy in Grapevine, TX is the place to get Volts from. They have a dedicated Volt sales rep and everything.

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6

Thanks for the info! This is a big help.

7

A percentage of the $7500 tax credit is used in the lease right away see you see the benefit right away. This is how GM Financial structures their lease. for some people this is way better than waiting until the next year to send in for a $7500 tax credit that they may not qualify for. when you lease you qualify for a percentage of the 7500 either way.

Paul Duran
Capitol Chevrolet
Internet Fleet Manager
Northern California
408 464-6499
paul.duran@dgdg.com

8

Paul, why is it only a percentage and not the entire $7500? If the above is true on a Volt Premier, Chevy pockets $3,265?? Seems a bit steep for this “benefit”