Chevrolet Volt priced at $41 000
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No big surprise here.
Except for those who were expecting a surprising low price…
But at $350 a month, the lease is much more attractive. Which is similar to what Nissan is asking for the Leaf.
But the Leaf can only do 100 miles on a charge.
But I think the main competition will still come from the Toyota Prius.
And right now, you can lease a Prius Level 2 for $199 a month.
Sure, the Volt will be better equiped than the base Prius.
No matter what, I think the lease is the way to go for the Volt. $350 a month is a great deal for a $41 000 car.
What will the buy-out be? The lease rate sounds like it's either based on ridiculously high residual value (which the Volt ought to have) or a ridiculously low interest rate.
If you figure $350/month for 36 months, that's $12,600, or about 30.8% of $41,000. If the down payment is more than $3,000 (which it likely will be before negotiation), the lease-end buy out option is likely to be higher than $28,000! That's not a good deal!
I just leased a $32,000 Prius level IV, with the Nav and Solar Roof packages…for $340 per month. That's an out-the-door sales price of about $28,750 with about an $18,700 buy-out at the end. I paid $999 down plus sales tax, a third year of maintenance and SOS, Toyota's version of OnStar, but I think it was a good deal for a car that costs me less than $100/month on gas.
Will the Volt really get 230 mpg? If so, sign me up for a 2014 model.
The lease buy out might be $28K but that is entirely optional. Most people do not buy their cars at the end of a lease.
$350 a month sounds reasonable. GM isn't going to have any problems moving them with that kind of payment.
The only question I have is what mileage restrictions are on that lease? I couldn't find any details. Thought, usually a 36month lease is about 12K miles.
The lease rate factors in $7500 government rebates…
I still think this is a sweet deal.
I'll pick up the 'CUV' version we've seen concept pic's of over the last 5 months when it arrives…if not, I might just get one of these!
I commute 150KM's each day – so the battery alone will slash my fuel savings in half.
the car already looks old and it isnt out yet. all the press about this car is getting annoying. i noticed i dont read any volt news…
Why buy a car and its fuel subsidized by taxpayer dollars? No thanks.
this car was a great idea but the execution is going to make it flop…their first year production plans are less than 10,000 so no one that wants one will be able to get one…that price point is for the luxo buyer who won't be interested in a car wearing a bowtie on the grill and steering wheel…dealers will gouge based on the limited availability…also the tech in the car such as the twin monitor screens seems overdone and will be a distraction to drivers…our only hope now is that Toyota can develop their plug in Prius at an affordable price for the masses…the Volt is going to short out.
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Anonymous said…
What will the buy-out be? The lease rate sounds like it's either based on ridiculously high residual value (which the Volt ought to have) or a ridiculously low interest rate.
If you figure $350/month for 36 months, that's $12,600, or about 30.8% of $41,000. If the down payment is more than $3,000 (which it likely will be before negotiation), the lease-end buy out option is likely to be higher than $28,000! That's not a good deal!
I just leased a $32,000 Prius level IV, with the Nav and Solar Roof packages…for $340 per month. That's an out-the-door sales price of about $28,750 with about an $18,700 buy-out at the end. I paid $999 down plus sales tax, a third year of maintenance and SOS, Toyota's version of OnStar, but I think it was a good deal for a car that costs me less than $100/month on gas.
Will the Volt really get 230 mpg? If so, sign me up for a 2014 model.
July 27, 2010 10:18 AM
Rick said…
The lease buy out might be $28K but that is entirely optional. Most people do not buy their cars at the end of a lease.
$350 a month sounds reasonable. GM isn't going to have any problems moving them with that kind of payment.
The only question I have is what mileage restrictions are on that lease? I couldn't find any details. Thought, usually a 36month lease is about 12K miles.
July 27, 2010 10:33 AM
Anonymous said…
The lease rate factors in $7500 government rebates…
I still think this is a sweet deal.
I'll pick up the 'CUV' version we've seen concept pic's of over the last 5 months when it arrives…if not, I might just get one of these!
I commute 150KM's each day – so the battery alone will slash my fuel savings in half.
July 27, 2010 2:05 PM
Anonymous said…
the car already looks old and it isnt out yet. all the press about this car is getting annoying. i noticed i dont read any volt news…
July 27, 2010 3:30 PM
Anonymous said…
Why buy a car and its fuel subsidized by taxpayer dollars? No thanks.
July 27, 2010 10:16 PM
Doesn't this already happend with the ICE? I mean, really, look at the price of gas in the USA compared to anywhere else in the world.
If the US was serious about climate change AND wanting to stop the deficit of gas imports – they'd tax the hell out of this stuff…at least $5.50 per gallon. This would force people into more realistic cars, create a budget surpluss (addressing many other issues) and help with other enviornmental issues….
"the car already looks old and it isnt out yet. all the press about this car is getting annoying. i noticed i dont read any volt news…"
Amen!!! I'm so sick of seeing, hearing and reading about a new car that ain't been out yet. Like the 2009 Cruze that is now a 11' with no facelift.
I would agree that the Volt seems designed to fail. The Chevrolet Cruze is coming out soon — and the cost difference should be greater than the fuel savings on a new Volt.
GM is notorious for doing things like this to inflate their share prices — the (re) IPO is coming soon, and the introduction of the Volt should get investors to take notice.
Pity about the environment. Oh well. Bob Lutz will be dead and gone before the ozone layer is depleted and an energy shortage means $6-$8 petrol in the USA.
I'm going out on a limb here, but I think the guys at GM should make a cheaper version with a 4 cylinder for those who live in a state without access to all the eco-friendliness and/or for those who just wants the car but not the batteries.
At least the profits & Corporate taxes stay un the US–UNlike the Prius. No wonder Japan and Korea are recovering from the recession much faster than the US!
JW. The Volt and Cruze are Cousins. Buy the Cruze if you want 4 cylinders wait check that Buy the Ford Fiesta or Focus. Dave in Follansbee WV
"At least the profits & Corporate taxes stay un the US–UNlike the Prius. No wonder Japan and Korea are recovering from the recession much faster than the US!"
July 28, 2010 11:18 AM
Well if the "big boys" at GM had have gotten off their lazy a**es and brought out a mainstream hybrid/electric car 10 years ago there wouldnt be this problem.
"No wonder Japan and Korea are recovering from the recession much faster than the US!"
Seriously, you really think that? Japan has been in a recession throughout the past decade.
July 28, 2010 11:18 AM
The result of consumer demand.
The challenge for Chevy is going to be to explain the benefits of the Volt over the Prius and other hybrids. Most Prius owners don't even understand how a hybrid system works. So illustrating the differences to the clueless masses is going to nearly impossible.
I think this could be a very successful car. If people "get" it.
This car requires the use of premium fuel for it's gasoline motor. How lame is that this day an age when even hyundai can pump out 274hp out of a 2.0 liter than runs on regular unleaded.
GM FAIL.
The only problem with overhyping a product years before its release is the massive anti-climax when it finally is released.
GM Marketing FAIL.
"This car requires the use of premium fuel for it's gasoline motor. How lame is that this day an age when even hyundai can pump out 274hp out of a 2.0 liter than runs on regular unleaded.
GM FAIL"
My thoughts EXACTLY.
My eyes almost fell out of my head to the sound of the Price Is Right losing horns when I read PREMIUM FUEL.
It'd also be nice to know how big the gas tank is….especially since you can "order" one now.
I'm leaning towards the Optima SX with the 2.0T for sure.
There are four kinds of car buyers.
1. People who spend money on a car because they just need transportation.
2. People who spend money on a car because they want something additional that a specific car offers.
3. People who spend money on a car because they need to maintain the appearance of someone who wants something additional that a specific car offers.
4. People who spend money on a car for neither of the above three reasons.
Somewhere between #1 and #2, the Volt was born.
Anyone who wants to spend money on a Volt is #3; its "green car" status is feature content. It's still a car. It won't plug up the Deepwater Horizon or re-plant the Amazon rainforest or freeze some new glaciers.
There are no people who spend money on a car because they actually want to save the Earth from certain environmental doom. There's no such thing as an "environmental enthusiast"; we all breathe O2. It's the guilt over all the hundreds of millions of other internal-combustion engines out there that causes people to feel sort of bad. Bad enough, in fact, that they must do something about it. They must spend money on a car because…it's green. That will fix everything.
I have a hybrid car because I'm #2 and #3. I'm probably going to end up feeling guilty about that in and of itself. So guilty, in fact, that I must do something about it. I must spend more money on another hybrid car after this one because…
You get the idea.
Somewhere between #3 and #4, the Volt will die.
Thanks Vince, yours is the king of car blogs.
Another BIG problem is going to be "dealer markup." I have now talked with 3-4 local dealers in the Sacramento area and ALL are refusing to actually "take an order yet" (July 30) as they are all waiting to decide "dealer markup/market adjustment" for the actual selling price.
IMHO, this typical US selling practice could be the worst thing to drive away potential buyers AND lessees, since the final vehicle price seems more likely to approach $50k than $41k.
IF anyone gave a damn about the environment the last thing they would do is buy a lithium (or any other) battery car. Have you ANY idea what batteries do to the environment??? Take your pick: Mercury, Lithium, Cadnium, Lead,… they will ALL DESTROY the water once they have an accident– or wind up in a landfill somewhere leaching heavy metals through the waste and into our drinking water. DO A $400 NATURAL GAS CONVERSION ON A HEMI V8 AND STOP POLLUTING ALREADY!!!!!!!!!!!!!!