Chevy Volt LT Lease - what am I missing?


I’ve been internet bargaining with dealers in the Los Angeles area and this is the best offer I’ve received. Can any of the Hackers let me know if I am missing something? The offer is based on top tier credit (obviously).

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I absolutely have no idea how to read that thing, but does that say $9k down? LoL

It’s $943.98 drive-off. Looks fantastic to me. Averages out to $152/month once you factor in the $1,500 CVRP and $700 Costco gift card (if you qualify). I have no idea why people lease Priuses.

The rebates are comprised of $500 conquest/loyalty, $500 Farm Bureau, first month’s comp, and $6,860 in CCR lease cash, right?

Hi Michael,

Thanks for responding. The incentives are $500 Conquest/ $500 Bonus Tag plus the $6860.

Dealer has promised to tag the vehicle if I commit to coming in tomorrow.

Got similar numbers from another dealer (slightly higher due to $180 add on to MSRP) and little less on the discount. But I was pleasantly surprised to say the least by this offer.

Now I’m trying to see if they’ll take my 2013 Honda Insight for their lot and waive my wear and tear fees. The higher number dealer has hinted at that.

Thanks for taking a look.

No. $0 down. Drive off is 939.48

wow! Seems like a fantastic deal! Tempted to see if I can duplicate this deal in San Diego. Any idea how much it would be for 24 months?

From other site. Keyes in LA one day sale…

2017 Volt LT with Leather and Comfort Package
Includes Back up Camera !

189.00 OTD with 1500 total to start lease. (the same amount you could get back from state CA rebate)
10k lease 12k is 18 dollars a month more. On approved Credit , All in Stock with MSRP of 35,455

To qualify you need to have a current lease in the household or put and additional 500.00 down.
Costco Members may also receive between 300.00 to 700.00 gift card directly from Costco. Costco rules apply.

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wow, that’s really great! Trying to focus on getting an SUV for the wife, but it’s so hard not to jump on some of these other deals!

What are the incentives? Are they all available in Colorado? Looking to duplicate here if possible. I may wait till next year when Colorado changes law on State EV Rebate, but do all other rebates apply? planning on timing this to take advantage of current offers and next year so ill need to get a deal ready before January 3rd when then end…

I’ll throw in the deal that I just got on an LT with leather, comfort package, Bose, and a couple other minor things:

MSRP: $36,215
Net cap cost after rebates and discount: $25,205
36mo/10k, $1500 drive-off (includes first month’s payment), $211/mo including taxes + I opted for the lease protection plan at another $12/mo, so $223/mo total. I figure $432 was worth it for the plan, I paid about $350 in excess damage on my last Volt, so if I do the same on this I’m paying an extra $70 but covered for another $4,650 worth of damage.

So total cost of lease is $9,305 - $1500 state - $700 Costco = $7105 / 36 = $197.36/mo effectively. Love the car so far, big improvement over 1st gen.

Did you get the deal? What dealership and who did you work with?

Yes. Finalized at 35 payments of $187/month tax incl. $940 drive off, for 36mo/12K Volt LT

Marci Adishian at Camino Real Chevrolet.

Thanks so much @CalEV.

Stupid question, I can’t figure out how to plug all the numbers from the screenshot above to the leasehackr lease calculator. I noticed doc and licensing fee ($376) are not capitalized and I assume the total rebates ($8051.83) are taxable ($724.67 at 9%), so that alone is over $1,100, how do you get to $940 driveoff and why does it say Amt Applied Upfront is $1295?

Also, how do you know which volt has bonus tag? I tried searching online but can’t find that info.

It is complicated and I’m not an expert so you might want to answer one of the Hackers. But remember, those are not the final deal sheet numbers. In the end, because I had a competing deal she just told me to give her the numbers I wanted and she asked her manager if she could do it. They increased my discount and either ate some fees themselves or rolled a bit of them into the lease. I was happy to get that number and decided I had done enough math during the course of shopping to know I wasn’t getting screwed.

Through 4 different leasing experiences I have found that the best route is to send out an email to every dealer in your area with specifics of the make/model/cold/package you want. Most of them are lazy and send back form letters even though they have enough info to tell you their first offer. But there are always one or two who will give you hard info from which you can start negotiating.

Do it all by email. Never get on the phone. You will get a hundred calls, ignore them. It drives them crazy, but talking is the way they smokescreen the deal and back you into corners. Lease spreadsheets don’t lie. If they won’t send you one, or at least a written breakdown of the numbers, they are trying to play you.

You can always go back to them when you have real numbers and see if they can better your offer. I like to always go to the most diligent and trustworthy of them and even if it’s a few dollars different give him/her my business.

Re:Bonus Tag. I’m not sure how they determine which car on the lot has one. But if you go into the inventory on their website you can find it under the incentives breakdown per vehicle.

Again. NEVER get on the phone or go to the dealership.

Happy New Year.

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Thanks a ton for your detailed response @CalEV. It’s really empowering. Did you just use the email form on each dealer’s website to email them?

@michael, can you please comment on how to plug numbers in a lease worksheet like the one pictured in the first post to the leasehackr lease calculator? specifically, I would like to see how it would affect the numbers if I bring the mileage down to 10K/year and remove the lease conquest discount.

Happy New year!

Just got a new lease on a a 2017 Volt LT.
Hopefully this is helpful.

Breakdown, below, let me know any questions and I can put you in touch with my sales guy if you like. He’s great. This is in the Bay Area.
10k miles annual
ZERO drive off $219.50/mo. Total over 36 months (35 payment is $7682.50

you can also do better with lease conquest or loyalty (have GM or non GM lease, no need to turn in) or GM card
or both. Same lease with
Loyalty : $209.50 a month
GM card: $195
both: $180.51 / month

MSRP: $34,155
Dealer Discount: -$4,935
GM Rebates: -$6,860
Acq Fee: $595

36 months, 10,000 miles
Residual: 51% = $17,419.05
MF: 0.0004
APR: 0.96%
Tax Rate: 8.75%

Monthly: $201.84 + $17.66 = $219.50

Costco executive: $700
CA clean vehicle: $1,500

LEASE TOTAL: $219.50 * 35 = $7,682.50
NET TOTAL (with rebates): $7,682.50 - $700 - $1,500 = $5,482.50

Effective monthly payment: $152.29

(if you have a current lease and GM card rebate, it could be $114.38, totally crazy :))

Good luck!

Great deal, @sid1200.

Does this LT include Bose/Leather upgrade, or base LT?

Which GM rebates are included in your deal? I don’t qualify for loyalty or lease… so just seeing what else I may be able to get (similar to your deal). Thanks in advance.

This is a base LT so no bose or leather, but they have some of those as well, you can try for a little more off MSRP since it’s a more expensive model.

The base number I put in was just the standard rebate, if you have GM card you can add that in as well (max for a Volt is $1000), Farm Bureau $500 though few people are members, Costo (but that’s direct from them, but dealer filled in my form). He also told me that you can upgrade your costco membership to exec (if you don’t have it yet to get the $700 instead of $300 from them, as long as you do it prior to buying the car)

Hope that helps!