Would you lease a Chevy Volt for $349 a month? (36month,10k miles yr) ?

$349 @ 36 months is $12,564.00 for 30,000 miles, or $0.4188 per mile. Assuming you don't exercise any purchase options at the end of lease, how does that compare to actually purchasing a Volt with the tax credits and all?

The Volt is about $32,500 after tax credit, not including state incentives, and I assume you can get at least 100,000 miles out of it. That works out to about $0.325 cents per mile or lower, not including fuel, tax and other miscellany.

Edit: Also we must consider that the purchased Volt will still have resale value

 

$349 seems like a great price but from the reviews I've read....the volt is LESS than impressive

 

I drive 30,000 miles a year, so I would have an additional $15,000 cost. No Thanks.

 

Huh? I don't think that's right. I was looking into lease mechanics since I am considering leasing a Leaf (have never leased a car in my life).

See Leasing Glossary - Cars.com for open and closed ended leases.

 

I could deal with the 10,000 miles as I still have a Prius (GII) and an Insight (G1). I wouldn't be giving them up. Fact is there would be times when I would opt to drive one of them due to better mpg.

 

I wouldn't. But I would, and did lease it at less (trade in) with a 12k mile per year.
With the technology being new to GM, my general distrust of GM quality, and the likely advances in battery/prices I figured leasing was the best option.

 

A Volt? No thanks.

 

Nope...



Still 5213...

 

$350 x 36 months = $12,600. After 3 years, lease or buy another car? No thanks.

 

Not only is it expensive, but the body styling of the GIII Prius sedan is so much better in my opinion.

 

No. I don't lease cars. I think it's generally a poor deal. If I don't trust the technology or the build quality enough to buy, then I'll pick a different car. I don't trust GM quality. True, with a lease I would not be stuck with a lemon at the end of 3 years, but I'd still have to deal with the hassle (if not the cost) of any needed repairs. And if the battery degrades excessively, will they call it "damage" and charge me? Again, I don't trust GM, either for the build quality, or the end-of-lease treatment. Finally, I don't care for the Volt that much. It's not as comfortable as the Prius for long trips, and not as much fun as the Tesla for trips under 200 miles.

 

You mentioned this before. I am curious as my wife and I both find the Volt much more comfortable than our 2nd gen Prius. Are you by chance comparing it to a third gen Prius?

 

Who gets the tax break on a lease?

 

I have a 2004 Prius. The Volt I drove was not as comfortable to sit in. Of course, comfort is subjective. The shape of our respective butts could well make a difference.

Nissan passes the tax break on to the customer. I wouldn't put it past GM to keep it for itself. I'm not sure there's even really a way to know. Since purchase price, interest rate, monthly payments, residual value, allowed mileage and over-mileage fees are all negotiable; and damage charges may or may not be fair, that tax break becomes rather nebulous. They could give you the tax break on one line, and take it back by overcharging for something else on another line.

Of course, even when you buy a car, you don't know if the MSRP was set high just because the buyers would consider their "real" price to be MSRP minus the tax break. Maybe if there were no tax break, both the Leaf and the Volt would have been priced $5,000 or $7,500 less.

 

lol!! that is really funny!!...oh wait? that was not intended to be a joke? ok. well, i have had my Leaf with its "limited" range (and remember plugging in every day is such a hassle so i only plug in 4-5 days a week) for 10 months and have already hit 10,000 miles.

so what is the "extended" gas range supposed to be used for?

 

that would depend on the lessor. for my Leaf, the lessor gets the credit (at the end of the year) but they simply applied is as a down payment for my lease.

now the add shows the best case scenario and most will not qualify for it. others who do qualify for it may have a lesser deal offered by the dealer as was I for my Leaf (common practice in the auto industry as i now know) so the add is basically a bait and switch as one poster has already found out.

now, on my lease to offset the "dealer markup" i put 10,000 down instead of the required 2000 and dropped my payments to $162 a month. i do have the option to buy out the lease at any time for the residual + prorated rental fee + "lease purchase fee of $300