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2017 Volt LT lease in Maryland; effectively $168/month, $0 due at signing

bro1999 51 18 June 30, 2016 at 04:48 AM in Cars (4) More Photobucket Deals
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Last Edited by bro1999 July 4, 2016 at 07:42 PM
I negotiated with the sales guy I know just about all month, and finally signed the paperwork last night and drove away in my new siren red '17 Volt LT! Here's the nitty gritty:

[img]/uploads/default/original/1X/bfd22b30436d65d0d1f83f2e2f88902481e0f903.jpg[/img] [photobucket.com]
[img]/uploads/default/original/1X/01d92dbb19063853865944ccec57257e3e4f5f7b.jpg[/img] [photobucket.com]
[img]/uploads/default/original/1X/dbb3c5f40e6f51190548428dca38f0d2e41bfd2a.jpg[/img] [photobucket.com]

MSRP: $35,090
Term: 36 months
Miles/year: 10,000
Money factor: .00095 (increased from .0004 for lease acquisition fee waiver)
Residual: 51% ($17,895.90 lease end buyout price)
Lease acquisition fee: $0 (waived in favor of 55 point money factor increase)
Dealer doc fee: $300
Reg/title fees: $279

Dealer discount: $3,748
First payment waived

After factoring in the $2,300 MD electric vehicle tax credit the '17 Volt is eligible for, it turns into an effective monthly payment of $197.

However, this deal included $817 in negative equity on the Cruze lease trade-in (upside down $1,639, but received $822 trade-in tax credit, so $817 total negative equity).
Separating the Cruze trade and having the Volt deal stand by itself, after MD tax credit the final monthly would have been $174 a month, $0 down!

I also ended up having them waive the lease acquisition fee for a 55 point money factor increase (will be better for me since I'll be swapping this Volt in ~6 months and can save on remaining interest charges). If I hadn't done that, the payment would have dropped another ~$6/month to just $168/month, $0 down.

I'll caveat this by saying I did receive a lot of incentives many people may not qualify for ($1k Chevy.com private offer, $500 farm bureau member rebate, $903 GM card points to include $750 bonus earnings), but even without ANY rebates, this deal would have been $299/month, $0 down (or $235/month after factoring the MD credit).

In states that tax only the monthly payment, it would be even cheaper! (Socialist state of MD charges FULL sales tax on a lease....somehow this is beneficial to consumers according to MD?)
Leasing sucks!
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Last Edited by bro1999 June 30, 2016 at 04:54 AM
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Incentives applied:

Capital Cost Reduction/CCR (lease cash): $4,610
Incremental CCR (aka bonus lease cash; only CARB state residents are eligible): $2,250
Chevy.com private offer: $1,000
Farm Bureau rebate: $500
GM card earnings: $903 (includes $750 bonus earnings received)

Dealer discount BEFORE rebates was $3,748.

Above deal only obtainable in CARB states. YMMV with state tax policy, dealership fees, etc...

3 Comments

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#3
Great post and nice details!
Reply Helpful Comment? 0 0
#4
found this post because a freind wants to lease a volt..


meh.. i still believe in buying cheap, driving, then selling the vehicle for more than i paid for it. lol
Reply Helpful Comment? 0 0
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