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Ashley
Mueller Community

Posts: 242
Joined on September 16th, 2007
Chevy Volt
by Ashley on February 12th, 2012

Neighbors, there is actually something else to consider as an individual looking at buying versus leasing.

-If you buy, you may or may not receive the full $7500 federal tax credit, it depends on your tax situation.

-If you lease, you do get the full benefit of the federal tax rebate. The dealer officially gets the credit, but they get to take the full amount and calculate that into in the lease cost, making the lease cost less expensive than it would be. (but you would not be able to claim that rebate if you purchase at the end of your lease).

So it is not quite as cut at dry as "those that buy get a $4500 better deal".

Ashley
 
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Brewster McCracken
Mueller Community

Posts: 12
Joined on February 11th, 2011
Chevy Volt
by Brewster McCracken on February 12th, 2012

We are able to provide a lmited number of rebates for Leafs and the plug-in Prius. Each has a different research value compared to the Volt that impacts our deliverables to our grantor and impacts our internal research team resources. For example, the Leaf's potential load profile may even be greater than the Volt's, and it has a very well-developed remote information portal; however, we do not have research support or guaranteed availability from Nissan. The plug-in Prius, according to the information available, becomes available in March 2012, is eligible for a federal tax credit up to $2,500 (compared to up to $7,500 for the Volt and Leaf) and we do not have guaranteed availability or research support from Toyota. (For more info, see http://www.plugincars.com/2012-toyota-prius-plug-hybrid-fuel-economy-rating-95-mpge-111849.html)

The collective impact of the above is that certain elements of the research trial may be different for residents who don't have a Volt. If you signed up and want an electric vehicle other than the Volt, please let us know when we contact you.

As for the equity question, there are several considerations. Up to 20 participants who purchase a Volt and participate in our research trial are eligible for a $7,500 rebate from Pecan Street. That would bring the participant's out-of-pocket financial contribution to about $25,000 (assuming eligibility for full federal tax credit of $7,500, zero percent financing and purchase of base price model at MSRP). Up to 83 residents who lease a Volt are eligible for a $3,000 rebate. That would bring the resident's out-of-pocket financial contribution to about $12,600 (assuming 3-year lease of base model at lease rate of $350 per month).

With projected net fuel expenses savings and a vehicle trade-in, a resident might be able to lease a Volt at no out-of-pocket cost over 3 years. That's what happened in our case.

Also, if we went with only purchases, we would have enough funding for 55 residents to buy Volts. Under that scenario, a different equity scenario would result: approximately 48 residents would lose an opportunity to participate in our electric vehicle research trial rebate so that 35 families could receive an additional $4,500.

Either way, unfortunately, it's a zero sum set of choices given that we have a set budget.

Finally, to the extent there is an assumption that all 25 participants to date are choosing to buy, that is an incorrect assumption. We won't know the precise buy/lease breakdown of the current group of 20 until they complete their acquisition but we know that a number are going with leases.

I'll continue monitoring the posts if anyone has fact questions.
 
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smittyhoo
Mueller Community

Posts: 445
Joined on November 4th, 2008
Chevy Volt
by smittyhoo on February 12th, 2012

There is a very big misunderstanding of the point that I am making on equity. I am in no way comparing the buy vs. lease options and I am not making any assumptions about what people are doing that you've offered the cars. The only thing that I am comparing is the buy the 1-20 cars incentive (7500) vs. the 21st buy and over incentive (3000). The variables involved, assuming no overbearing external influence upon PSP driving the lease/buy mix, are:

IB = Incentive to Lease
IL = Incentive to Buy
PB = Population with Buy Preference at Certain Buy Incentive
PL = Population with Lease Preference at Certain Lease Incentive

With the cost equation being

IB*PB plus IL*PL = Total Cost

or to make it real, what has been offered

7500*20 plus 3000*80 = 390000

Going back to the formula and using optimization techniques, you could plug all these variables with limits based on survey response data that could have been captured and come up with the optimal mix that reflects the population at large’s true desire of lease vs. buy, minimize your cost if so desired, and then provide every person who wants to buy an equal deal and every person who wants to lease an equal deal. That is the only point that I am making and that is the only question I am asking – was this analysis done – because if the population's true desire at the 7500 vs 3000 offering is 30 buys and 70 leases, then you have left 10 people with a preference to buy in a sub-optimal position and oversubscribed the available leases. You may not care because you've reached your goal of 100 participants, albeit you've paid too much to reach that goal. I hope that this is clear and I promise that this will be my last post on this subject.
 
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todd calvert
Mueller Community

Posts: 54
Joined on October 28th, 2009
Chevy Volt
by todd calvert on February 14th, 2012

we got a volt about a week ago. it's great!!!! 360 miles, about 2 gallons in gas. really fun to drive as well.

we got ours at covert out in bastrop. i would use them, no question. call and ask for rafael. he'll bring a car to your house and let you drive it. when you're ready to buy, they'll deliver it to your house along with all the paperwork. you sign in your house, all done! couldn't be easier.

rafael is also very knowledgeable about both the car and the federal and pecan street rebate program. covert also has around 6-8 volts on the lot at all times.

pm with any questions!
 
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Audio Video Obsession
Mueller Community

Posts: 21
Joined on September 15th, 2010
Chevy Volt - Henna Chevrolet - Mueller Resident Volt Discounts
by Audio Video Obsession on February 14th, 2012

This post is specifically for any and all Mueller Residents that are interested in buying a Volt as a Part of the Pecan Street Program.

Before you buy a Volt come talk to me. Feel free to call, email or knock on my door.

I have negotiated a deal (think big discount and single point of contact) with the Buyer (Inventory Manager) at Henna Chevrolet here in Austin to accomodate any Mueller resident that is interested in buying a Volt.

Starting this evening I will have an official letter from Henna, for any Mueller resident that is interested in buying a Volt, to bring into the dealership, along with their Pecan Stree/GM Approval letter, that will outline Henna's Mueller Resident pricing along with a single point of contact at their dealership.

I won't get into pricing details online, they'll be in the letter from Henna, or I can discuss them with you on the phone (Henna asked me not to advertise the pricing online, this is for Mueller only). I can say that I'm sure you'll want to thank me for the deal your going to receive. I love to eat so any food or dessert items you want to send my way after you buy your Volt, at a substantially discounted price, would be appreciated! ;-)

All joking aside please do contact me before purchasing. It's worth your while.....I've put a lot of effort into this and wouldn't be putting my name on it if I didn't wholeheartedly believe in the pricing and service you will be receiving as a result of my negotiations.

(As a qualifier......I negotiated the first Mueller Solar group buy and I think anyone involved in that deal can vouch for my ability to negotiate a phenomenal deal.)

Thanks,
Joe Z.

4024 Pinckney St.
512-680-7809
jzabreznik@austin.rr.com
 
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kpwickham
Mueller Community

Posts: 22
Joined on August 31st, 2008
Chevy Volt
by kpwickham on February 14th, 2012

 
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schroed
Mueller Community

Posts: 221
Joined on February 7th, 2008
Chevy Volt
by schroed on February 14th, 2012

Quote:
We are able to provide a lmited number of rebates for Leafs and the plug-in Prius...


Thanks, Brewster, for clearing that up. I was happy to be proven wrong in this case.

I don't know if anyone besides us is trying to buy a plug-in Prius (PiP). In the spirit of the original post I'll relay a few things I know about it.

The first PiPs will hit the dealers in march, but if you did not do a pre-order you will have to wait til early summer, or 2013 if you want to buy one in TX. You have to travel to one of the coasts to buy one in 2012, see: http://www.toyota.com/prius-plug-in/availability-map.html

We did pre-order; our sea glass green PiP has not shipped, so we're not yet getting daily emails about the voyage, but we expect it in April. We tried several dealers in the Phoenix area but they did not appear to want our business. Ended up going with a dealer in LA who does high volume and knows how to sell to out-of-state folks (not to mention a sweet deal!). I highly recommend Dianne Whitmire of Carson Toyota if anyone wants to get a 2012 PiP: dianne@earthlink.net or (949) 689-0717 Cell

OK, this post is getting too long, but I also want to mention two really cool things about buying a car in California:
1. I'm taking my camping gear along and going to take my sweet time driving it home, but even more importantly for you..
2. Buying in CA automatically extends the warranty on the hybrid battery to 150K miles! As owner of an '05 Prius with 103K miles, 3K beyond the battery warranty, this seems pretty huge

 
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Audio Video Obsession
Mueller Community

Posts: 21
Joined on September 15th, 2010
Chevy Volt - Lease
by Audio Video Obsession on February 15th, 2012

FYI..... to anyone considering leasing a Volt. As Brewster mentioned, and I want to reiterate this, the $350 per/mo only applies to the base model Volt with a sticker price of $39,145 ($39,995 w/ $850 destination charge....everybody pays this). Once you add a couple of options the sticker price moves quickly and so does your monthly lease. If you want to be realistic, and look at most of the inventory in Texas, you'll see that most of it is priced between $42,500 and $45,600. This brings your montly lease to somewhere in the neighborhood of $400 to $460 per month.

Most people that are considering a lease forget that negotiating is still vital to insure their monthly lease is as low as possible. A lot of people don't know that you can negotiate the price of the car when you lease. This is very important. You can see from my above calulations that for just about every $1000 you add in options your lease increases by about $25 per/mo (these are round numbers).

So how do you reduce your lease cost? Well you go back and take a look at my previous post & contact me directly. I'll then get you a letter from the Inventory Manager at Henna that will give you a price on a Volt that is well below dealer invoice. Not below MSRP Sticker Price but below dealer invoice. And the beauty of all of this is the negotiating has already been done for you. All you have to do is walk in with the letter!

Joe Z.
512-680-7809
 
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John Schlemmer
Mueller Community

Posts: 11
Joined on January 10th, 2011
Chevy Volt - Lease
by John Schlemmer on February 15th, 2012

Nicely done, Joe. I will surely be interested in the deals Henna can offer. Thanks for negotiating.

John
 
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Ashley
Mueller Community

Posts: 242
Joined on September 16th, 2007
Chevy Volt
by Ashley on February 15th, 2012

I have had some people ask me, so wanted to share a few more details about my experience buying a Volt.

Again, going to a small town far from Austin where Volts are not in high demand and buying one off the lot can help get a great price.

I was able to get over 6% off MSRP on a midlevel Volt. So start there, and get a better deal than me!

So if you are willing to make a road trip, consider a dealer in small town Texas and make a deal via email before you drive out there. This works particularly well at a dealership that has more than one Volt on their lot.

Ashley
 
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