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:
Term: 36 months
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?)