Chevrolet Volt Lease Was Competitive, Now a Steal

[herm]

Is GM giving away the farm?

Nick Kurczewski - PLUGINCARS - August 8, 2012

Meawhile the trade-in value of a 2011 Leaf is $22k --Ed.

When General Motors first released pricing for the Chevrolet Volt two years ago, the lopsided low lease price raised eyebrows. By playing with the Volt's residual value, G.M. was able to set the $40,000-plus Volt's lease price at nearly identical terms to the lease for the $32,000 Nissan LEAF. The Volt lease got even better over time, and was recently named the number one best lease deal in July by TrueCar.com.

According to TrueCar.com, the current Volt lease offer—which expires on September 4—is $2,529 down, and $260 a month for 36 months. But PluginCars.com is hearing about even better lease offers from individual dealers. There are anecdotal reports of a two-year lease for $249 a month, with $2,479 due at signing; and a three-year lease at $268 a month, with only $999 paid upfront.

These deals echo a June report in The Motley Fool, which listed the Volt plug-in hybrid as one of the automotive world’s best bargains. According to The Motley Fool, the terms of that deal in play in June started at $369 a month with $0 down at signing. The lease, managed by Ally Financial, could even potentially net a tidy profit for anyone who opts to purchase the Volt at the end of the lease and then immediately resell it. As we recently noted, the estimated trade-in value of a 2011 Volt, according to the NADA guide, is $29,325— or 90 percent of its post-incentive $32,780 sticker price.

The attractive lease price could explain why Volt sales have been dramatically higher this year, especially compared with sluggish sales of the Nissan LEAF. (In June, Nissan announced its own reduced lease price—$289 per month for 39 months with $2,999 down on the 2012 Nissan LEAF SV.)... [Read More]

[priusCpilot]

Wow that is deal! Wounder if they will give that deal on the 2013 cars as well?

[philmcneal]

who cares!!!!!! if only IF ONLY FOR CANADA WHY GM WHY

[herm]

Yeah but you guys get free medical care!

btw, trade-in for used Volts is about $2k higher than what the Leaf is getting.

[Harold]

It is a long way from free!!! We pay a fee every mth. plus our taxes are not paid until the end of Aug.. I don't call that free! H

[SoSlo]

Used Volts 500 miles from me 27-43k and not too many below 32k. If I could get a Volt for 22-24k I would be all over it.

The best available now is $2,425 down + $200 security deposit with $189 for 24 months in San Jose, CA

My local dealer has told me about a new Volt lease upcoming that sounds better than any before. I will be looking forward to it.

I have read that a lease is better with less down and short terms.

[xcel]

Hi SoSlo:

With Herm posting about used 11 LEAFs at just $22K, the Volt is not far behind. I have to wonder how GM is going to dispense of all the Volt's once off lease in 2 to 3 years? The resale is certainly not going to hold nearly as well as a Prius or any decent subcompact or compact and the TCO is going to be ridiculously high giving the naysayers a ton to bite into and feast on.

While hybrid cars story on lease pricing is noteworthy, it is the TCO that is going to harm BEV and PHEV prospects going forward due to the onerously high initial prices and poor resale after the fact. That story is just now beginning to be written and you are going to see more and more of them going forward. Losing $10K after the TC in just a year or two is GM SUV territory and the worst in the business. Watch what happens to sales after KBB, Edmunds, Wards or CR do stories on this in a few months.

Wayne

[ItsNotAboutTheMoney]

Originally Posted by xcel

Hi SoSlo:

With Herm posting about used 11 LEAFs at just $22K, the Volt is not far behind. I have to wonder how GM is going to dispense of all the Volt's once off lease in 2 to 3 years? The resale is certainly not going to hold nearly as well as a Prius or any decent subcompact or compact and the TCO is going to be ridiculously high giving the naysayers a ton to bite into and feast on.

While hybrid cars story on lease pricing is noteworthy, it is the TCO that is going to harm BEV and PHEV prospects going forward due to the onerously high initial prices and poor resale after the fact. That story is just now beginning to be written and you are going to see more and more of them going forward. Losing $10K after the TC in just a year or two is GM SUV territory and the worst in the business. Watch what happens to sales after KBB, Edmunds, Wards or CR do stories on this in a few months.

Wayne

PEVs are expensive because of the batteries and people are expecting and hoping that batteries will fall in price and get better (apparently already the case with 2013 Volt). With those pressures, and sales numbers that mean the tax credits aren't going to run out soon, I simply can't see how the projected resale would be anything but low. If it turns out that the batteries hold up, the projected resale will rise a bit.

Given the market expectations I don't see it having a negative effect on sales at all.

[xcel]

Hi INATM:

Pricing a vehicle to high to begin leads to poor sales and even worse resale which is occurring. Volt pricing should have been falling year on year and it has only gone up in 2012 with decontenting. 2013 Volt’s have the improved packs but no pricing has been released than I know of and I doubt it will be going down.

The Volt is a $32 - $33K vehicle before the tax credit making it affordable by the vast majority of new automobile buyers . At $39,995 to start, it is in unobtanium land for most and has no chance of making a dent in GM’s bottom line or helping our foreign oil dependence.

Wayne

[herm]

Its not a $39,995 vehicle.. everyone that buys one gets the $7500+ tax credit... if they dont pay enough taxes and thus dont qualify then they lease it.. unless they are fools or live in Canada