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Heard today that you will be able to lease a Volt for $350 per month with a down payment of US$2500. Term 3 years, then you can buy it if you wish.
Now, this is the first thing I have seen that may move some people into these cars.
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hls wrote:

Way too pricey $$$$.
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electric vibrators, this is a way to do it without too much exposure... Should appeal to previous Yugo owners, people who are into Fiats, etc.
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You forget to mention Pruis owners

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So how does a lease work in the USA? If the subsidised buying price is say $30,000 (after the $2500 downpayment) and you pay $12,600 in monthly payments (36 * $350) and assuming the interest rate is subsidised too, that'll leave $20,000 minimum left owing. Can the buyer walk away and owe nothing, or does he have to buy for whatever the figure is at the end of the 3 year lease, which would be at least $20,000? Is there a limit on how far the buyer can drive in that 3 years if he can walk away at the end?
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3*12*350 12.600
12.600+2.500 15.100
You pay 15.100 according to this info
41.000-15.100
That leaves
25.900
After the government subsidy
25.900-7.500
You still have 18.400
left and this is assuming there will be no interest to pay.
18.400 is probably colose to what the Volt should cost in the first place so you would be paying for three years an overprice.
Even if we are looking at inflation on ordinary stuff like food etc then housing and cars are facing overproduction and prices should be going down and not up.
It will be interesting to watch if the Volt will sell and how many.
Same is interesting to watch the GM IPO.
The cars and the stocks should be worth less if not worthless.
Then again the last idiot is not born yet.
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Bjorn wrote:

P.T. Barnum knew that too :-)
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That's one opinion, a bit convoluted but it is just your opinion in the end
wrote:

3*12*350 12.600
12.600+2.500 15.100
You pay 15.100 according to this info
41.000-15.100
That leaves
25.900
After the government subsidy
25.900-7.500
You still have 18.400
left and this is assuming there will be no interest to pay.
18.400 is probably colose to what the Volt should cost in the first place so you would be paying for three years an overprice.
Even if we are looking at inflation on ordinary stuff like food etc then housing and cars are facing overproduction and prices should be going down and not up.
It will be interesting to watch if the Volt will sell and how many.
Same is interesting to watch the GM IPO.
The cars and the stocks should be worth less if not worthless.
Then again the last idiot is not born yet.
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On 8/23/2010 2:26 AM, Bjorn wrote:

From a cost perspective, why not import $2500 Tata Nano that gets over 50 mpg and is Euro crash rated? Only the cost of a downpayment!!! No DEBT, no need for bailouts. It even goes farther on a single charge of motion potion.
Looking for a eco car, want North American built because you insist? But rather skip the UAW/CAW over priced garbage? Companies exist that will sell them under $12,000 no problem, but they fight with governmetn as they are closing them out of the market. In effect, favoring the racketeering on pricing of the big companies.
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Once again our friend Canuck57 is telling us the sky is falling. LOL
wrote:

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Typical lease you can walk away owing nothing. There is usually a limit on the number of miles you can drive, about 12,000 to 15,000 a year. Then you pay per mile above that. I've seen numbers from 15 to 50. Most leases specify the value at the end of the lease and you can buy the car at that price if you desire, but the dealer would rather you got a new one.
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Yes, at the end of the lease you can walk away if you havent exceeded the mileage (for which you have to pay) and the car is in acceptable condition.
There is no free lunch. There is no way they can or will lease you a car cheaper than you can buy it yourself. Even Obama cannot defend "negative profit" as being a legitimate business strategy. Now, if Baroque subsidizes these cars even more than is obvious, I guess they could burn them all in a bonfire and GM would still take money out of your pocket.
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Few buyers understand the advantages of leasing over buying. For example If you drive less than the American average 15,000 miles per year, would you take 10,000 mile a low mileage lease, over a five year financed purchase?

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On 8/23/2010 7:57 AM, Mike wrote:

Leasing is almost always more expensive unless it is needed for tax deductible reasons.
TCO, 9 years
$2500 down every 3 years with $350 month is $40,300.
F150 with real A/C and heat is say $30,000 (or less) kept for 9 years.
While the F150 might burn more fuel at first glance, it will not up your utility bill as electric, you pay others to burn the carbon for you.
If each racks 10,000 miles a year, in a F150 no need to rent a real vehicle for the 500 mile trips or Costco pickups. Holds 56" TVs and fridges including yard garbage for the dump.
Most people would save more if they went to one good all purpose vehicle instead of two depreciating assets, only have one.
And at 40 miles per charge with a new battery...I don't think many Volt owners will do more than 10,000 miles a year. That would be 27.4 miles per day ever day of the year.
And in above, at 9 years you still own the F150 with only 90,000 on it while the Volt, you need to shop and put down cash again.
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You obviously are not a math major LOL

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The depend on the lease terms mileage. Yes you can, and should, walk away at lease end. It would cost far less to simply buy the vehicle initially
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On 8/22/2010 7:59 PM, Willy wrote:

Pretty easy. AmeriCredit will take on the paper value of the vehicle, they in 3+ years write it down becoming unprofitable. If AmeriCredit fails, dump it on the taxpayers. Just like they did with GMAC.
GMAC got in trouble holding too much bad credit and not enough residual value to cover. Four bailouts so far, and not solvent, GM didn't want GMAC back. Stigma of GM is so bad, GMAC even changed it's name to Ally.
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Once again our friend Canuck57 is telling us the sky is falling. LOL
wrote:

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It never pays one to buy a vehicle they have leased, for obvious reasons.

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On 8/22/2010 4:03 PM, hls wrote:

Funny, I will pay less for my F150 and the heat and A/C work great.
And of course taxpayer subsidized for GM. Bad credit, no job, welshed on a loan before, no problem - AmeriCredit (a government Motors company) will lend your the money and in 3 years GM will once again trash another financial institution just like they did with GMAC. At which time they will dump AmeriCredit.
Here we go again...
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