Car lease deals are looking much better for the month of August. The clear winner is an unusual one, indeed. The Chevy Volt is finally making good on the exciting lease offer we were told about last November and wrote about here: Chevy Volt Lease Announcement. Through August 31st, you can lease a Chevy Volt for $350 a month and a $2150 down payment ($2,500 less first month’s payment). This is an LVR (Lease Value Ratio) of just 1.00% and that’s without consideration for gas savings! I’ve never been a huge fan of paying more money for Hybrids since any gas savings is offset by the extra cost of ownership, however a good case can be made for leasing one:
Chevy Volt Lease: Best of Both Worlds?
Leasing hybrids may not make financial sense in every case, but the Chevy Volt lease surely gives us a compelling reason to lease vs buy. Based on it’s $41,000 MSRP alone, the Chevy Volt, even with the $7,500 Federal Government rebate seems a bit on the high side. Leasing a Volt is a whole new ball game. No, you don’t get to keep the $7,500 rebate when you lease a Volt, but you do get a $350.00 payment on a great commuter car that won’t cost you a dime in fuel costs, assuming you drive 35 miles or less between charges. The Chevy Volt uses a standard household electrical receptacle for charging it while it is parked in your garage. For someone like me, who drives less than 35 miles per day, I could drive the Chevy Volt to and from work without ever spending a dime on gas. I am currently spending about $110.00 a month on fuel. Subtract that from the $350.00 lease payment, and my net cost to drive a Volt is just $240.00 a month. That’s a lease payment that measures up to just about any of the best deals out there.
Yet, if you’re really after an economical lease and spend less than $150.00 a month on gas, there are two better choices than the ChevyVolt: The Honda Accord LX and Toyota Camry. With an Average Car Payment of just $233.00 and $236.00 respectively, you’ll save about $6400 over the life of the car lease on a Chevy Volt. Aside from gas mileage savings, is the Chevy Volt such a great car that you’d gladly spend $6400 more to lease it (Or $3200 after gas savings)? I guess you’ll have to look at and test drive a Chevy Volt to make that decision.
The good news is that we have 5 great car lease deals this month which have LVRs under 1.10%:
Chevy Volt: $350.00 per month
- Honda Accord Sedan LX: $240.00 per month
- Toyota Camry LE: $189.00 Per Month
- Honda Accord Coupe LX-S: $270.00 Per Month
- Nissan Frontier 4×4: $229.00 Per Month
Keep in mind, the lease payments above are the advertised lease payment and not the average car payment which includes down payment and provides a more realistic idea of what it costs to lease the car. For the full details on these top-5 car lease offers, refer to the chart below.