Chevy Volt will cost $41,000, Lease for $350

July 27 :

http://www.washingtonpost.com/wp-dyn/content/article/2010/07/27/AR2010072703364.html?wprss=rss_business

The Chevrolet Volt, the forthcoming electric car from General Motors, will cost $41,000, the company announced Tuesday.
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The Volt will also be available by lease with a monthly payment of $350 for 36 months and $2,500 due at lease signing, the company said.

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July 26 :
http://www.bloomberg.com/news/2010-07-26/general-motors-said-to-price-chevrolet-volt-electric-car-at-about-40-000.html

General Motors Co., the largest U.S. automaker, plans to sell its Chevrolet Volt electric car for about $40,000, said a person familiar with the company’s plans.

Pricing and ordering details for the car will be announced tomorrow at 12 p.m. New York time by Joel Ewanick, vice president of U.S. marketing, at a news conference in San Jose, California, GM said today on its website.

Dave Darovitz, a GM spokesman, declined to comment.

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I'll merge this with the Volt official thread after a couple of days.

Already 95% sure about the Leaf; if this is true, that seals the deal for me--no Volt, I will stick with the Leaf.

If that's $40,000 *before* incentives, then it's only a little higher than the Leaf.

johnr said:

If that's $40,000 *before* incentives, then it's only a little higher than the Leaf.

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Most people don't consider $7,000 as little

ps : don't forget dealer gouging ...

johnr said:

If that's $40,000 *before* incentives, then it's only a little higher than the Leaf.

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A little? More than a little.

Pricing by the pound?

Or 10-grand per seat?

evnow said:

Most people don't consider $7,000 as little

ps : don't forget dealer gouging ...

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p.p.s. And for those of us in California or Georgia, it could be $12,000.

The difference can be big enough to get an ICE car to be used for long trips ....

http://www.detnews.com/article/20100727/AUTO01/7270365/1148/GM-hopes-leases-will-boost-Volt

General Motors Co. will offer a competitive lease price on its Chevrolet Volt that could soothe consumers hinky about buying a vehicle that relies on pricey battery technology.

The lease price will be unveiled today, along with the Volt's retail price tag of slightly less than $40,000, minus a $7,500 federal tax credit. The pricing is one of the last secrets surrounding a car that GM hopes will turn around its perception as the maker of gas-guzzling SUVs.

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You didn't quote the most amazing part of that article:

The Detroit News has learned that GM plans to set a lease price that will be far lower than monthly payments to buy the extended-range electric car, and competitive with Nissan's Leaf, whose monthly lease price starts at $349.

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What kind of slippery accounting could come up with a $350 lease on a $32,500 net after tax credit? $10,000 up front, maybe? Closed end lease with a balloon payment? Extra charges for more than 5K miles/year?

planet4ever said:

You didn't quote the most amazing part of that article:

The Detroit News has learned that GM plans to set a lease price that will be far lower than monthly payments to buy the extended-range electric car, and competitive with Nissan's Leaf, whose monthly lease price starts at $349.

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What kind of slippery accounting could come up with a $350 lease on a $32,500 net after tax credit? $10,000 up front, maybe? Closed end lease with a balloon payment? Extra charges for more than 5K miles/year?

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I don't think they mean $350 - just "competitive" with Leaf ... whatever that may mean.

planet4ever said:

evnow said:

Most people don't consider $7,000 as little

ps : don't forget dealer gouging ...

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p.p.s. And for those of us in California or Georgia, it could be $12,000.

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The Volt will most likely not qualify for the $5k California rebate since they decided not to meet the AT-PZEV certification standard.

Ready2plugin said:

planet4ever said:

p.p.s. And for those of us in California or Georgia, it could be $12,000.

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The Volt will most likely not qualify for the $5k California rebate since they decided not to meet the AT-PZEV certification standard.

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Yes - thats why the difference could be 12K instead of just 7K.

just got announcement on FB retail is 41,000 so now its a LOT MORE than the leaf.

From Bloomberg News:
"The Volt will be leased for $350 a month with a $2,500 down payment, Detroit-based GM said today in a statement. Lessees for the Leaf pay $1 less a month and are required to put down $1,999." "The Volt’s price includes the $720 freight charge. Tony DiSalle, director of product marketing for the Volt, said GM can offer a lower lease rate than Nissan’s Leaf because the company will have a better resale value than its rival car."

Looks like they are going after those that would like to Lease the Leaf. They must have a high expectation for the Volt's resale numbers to help lower the payment. It will be interesting to see if Leaf changes their terms come August.

how many years? 8?



Gavin

Gavin said:

how many years? 8?



Gavin

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36 months. See http://www.favstocks.com/2011-chevrolet-volt-will-cost-41000/2721588/

http://www.washingtonpost.com/wp-dyn/content/article/2010/07/27/AR2010072703364.html?wprss=rss_business

The Chevrolet Volt, the forthcoming electric car from General Motors, will cost $41,000, the company announced Tuesday.
....
The Volt will also be available by lease with a monthly payment of $350 for 36 months and $2,500 due at lease signing, the company said.

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They really, really, really want you to lease the car. It is this kind of optimistic leasing that bankrupted GM - as SUV prices plunged during 2008 oil shock.

Yeah. No thanks GM!

The Volt's leasing terms are very good compared to the Leaf. Purchase price - not so much.

Especially when comparing to the high-end Leaf SL model at $379/month - that more than makes up for the additional $500 down you have to put on the Volt.

I have to say that just looking at leasing - it's a toss-up between the Volt/Leaf - especially if you normally drive less than 40 miles and when you drive farther, normally drive a lot farther.