If you’re in Jersey, contact Princeton Chevy and get a quote. Joann is no nonsense like Phil and Tricia. The Traverse will lease best at 24 months, and the 2018 Equinox doesn’t lease very well right now AFAIK
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Thanks Phil, I’m interested in leasing a 2017 Chevy Volt Premier and am wondering if the price the lease is based on from the dealer is reduced by the $7500 federal rebate applicable to the Volt. If not, how is that factored into the equation since I wouldn’t receive the rebate if not a purchaser of the car.
The financial company gets the rebate, they give you back portion of it via their own taxable rebate/incentives (i.e. end of april I was looking at 7150 in incentives after purchase price reductions, i.e. that cover your capital costs for the lease)
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just like @thetoad said. Also keep in mind your only paying for 50% of the car and your getting way more then 50% of the tax credit.
If anyone is in the market for a Volt this month.
This includes competitive lease or lease loyalty.
This price does NOT include a select model bonus tag
VOLT LT Heather grey, white, perpperdust, and silver available at this price.
MSRP: [$34,095]
Selling Price: [$30,595]
Rebates: [Chevrolet Select Market Incremental CCR $2,250, Chevrolet Lease Cash $4,400, GM Competitive Lease Private Offer $500]
Trade-in: [$0]
Months: [36]
Annual Mileage: [10,000]
MF: 0.00069
Residual: [51%]
Security Deposit: [$0]
Total Due At Signing: [$0]
Monthly Payment (incl. tax): [$272.96]
Zip Code: [95136]
Sales Tax Rate: [9.25%]
Phil Gileno
415-596-6262
Capitol Chevrolet
San Jose C.A.
if anyone is looking to purchase a vehicle 2017 Malibu LT’s Are 20% this month.
Great for high mileage drivers or challenged credit. Contact your local dealer.
Phil Gileno
415-596-6262
Capitol Chevrolet
San Jose C.A.
PhilGileno@gmail.com
Does that include the leather and bose by any chance?
I just called one of my local Chevy dealers. they claim they are not getting anymore 2017 equinox models. I thought I read that you and Chevygirl said that Equinox models are still being produced? Can you tell us the Incentives on the Chevy Equinox for this month? Thank you
Hi Phil:
Since you seem to be an exceptionally knowledgeable Chevy dealer, I hope you wouldn’t mind answering a couple of questions regarding 2017 Volt (the cheaper version, LT).
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When they give the residual value, it’s always in terms of %, I see 50 or 51% being typical. But what is this the percentage of? The GM’s suggested price, or the price I negotiate with a dealer (i.e., after some discounting)? And there is this $7,500 federal tax thing. Do I deduct it or not before taking 50 or 51% off?
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California offers $1,500 rebate. Who gets it? Me or the dealer or the bank?
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And specifically, I have negotiated the selling price of $31,100 with a local dealer down here in San Diego. Plus taxes and fees, of course. I plan to pay cash, no loans. What will be in your opinion good 36 or 39 months lease terms that would make the lease financially as good as, or better than, buying for cash.
I have bought many GM cars in my life, but have never leased one. So, I am new at this and if you can advise, I would really really appreciate it.
Many thanks.
Vic
Weak argument. If the lessor does a lease-end buyout will they give you back the remaining 50% or pocket it? i3 gives back the full $7,500 on leases and purchases.
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residual is a %age of MSRP (which can make cars with heavy incentives that reduce your capital costs have sticker shock buyout prices at the end of the lease, as you’re paying maybe 25% of the MSRP for 3 years, and then have to cover the other 50% if you want to purchase the car)
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the california rebate cannot be used to the price of the car, I believe (others can correct me if I’m wrong) that its your rebate to get, but has to be a 30month or longer lease (i.e. 36 or 39 months is fine)
I agree, it be nice if they give it to you all, but at the end of the day, this should just impact your desire to lease the car / buy it out at the end of the lease.
Thanks. So, if the MSRP of 2017 Volt LT is $34,000 more or less, then the residual value is $17,000 and the used-up value is also $17,000. If one is to buy this car with these assumptions and then re-sell it in 3 years, he will have paid $34,000 upfront (ignoring the tax/license/registration for simplicity) less $7,500 credit for the outlay of $26,500. After re-selling it after 3 years for $17,000, the cost of having this car will therefore be $9,500 or about 32 cents a mile if one drives exactly 10,000 per year.
So, if the total cost of the lease for 3 years is less then $9,500 before taxes, including the down payment and 36 lease payments, then it’s a good lease. It comes to less than $264 per month before taxes with zero down or less than 32 cents a mile. California rebate should not matter because it applies to both buying and leasing.
Is this correct or am I missing something. The whole darn comparison is trickier than I thought.
basically, which is why leasing a volt LT is valuable (and why many of us wont be using the buy out option after 3 years, the market for off lease volts is going to be glutted in 2019-2020)
Thanks! It was really helpful
first of all i’m just explaining what Car companies do, it’s not my decision or opinion.
But at lease end if you buy out your volt, you are over paying and not being a smart shopper. RV’s are inflated as a incentive. So your argument is weak sir.
If you lease volt you get more then your fair share or the tax credit for the amount of the vehicle you pay.
if you disagree then buy one lol.
BTW I love this site, because I can be blunt and honest and tell it how it is.
Happy Deal hunting everyone!
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it is a percentage of the MSRP. it doesn’t matter what they sell it for. the Residual is the same.
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you get the $1,500 check from C.A. within 45-60 day. If you purchase or lease.
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you should be able to get $3,000-$3,500 off MSRP before incentives. that would make leasing a better option for most people unless you drive extremely high miles or Want to keep the car for a long time.
I’m always happy to help!
Its like what Phil says, if Chevy lets us get the entire rebate, there might be minimal lease incentives on the car. At the end of the day, either the deal is a good deal or not a good deal as written. And that’s up to each individual person.
I was offered an excellent deal at the end of april, it wasn’t quite excellent enough to make me sign but mostly because I didn’t need the car for another month and hence calculated in my head that I had about $1K in wiggle room due to that. If they would have offered me an even better deal for $1K less I would have bitten the bullet and got it even though it would just be sitting parked for a bit. If I can’t duplicate that deal when I need the car, I’ll have lost a little, but the savings from a month of non usage and the like might make up for it (or not, its the risk I take)
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I pulled the trigger on a Volt in April. It is parked in the garage for the next 10 months.
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what is the bonus tag on the Volt?
you should paint the ‘wow’ deal.