What's amazing is that people over on the gm-volt.com forum are saying that they aren't aware of anyone getting close to the $5,000 off MSRP before the tax credit. About $3,000 before the tax credit is about as high as I've seen it mentioned over there.
The $7,500 federal tax credit is worked into the price of the lease for everyone, excluding your income. However, if you buy it outright then you have to pay at least $7,500 in Federal taxes to see the credit. For some including retiree's they probably wouldn't have enough income.
It's early yet, but most GEN1 Volt people actually leased and then called the bank a month or two before their final payment was to be made and negotiated a buy out price. From what I read many banks are willing to do this.
A GEN 1 Volt when it first came out was $44,000. Many took a 3 year lease. At $300 per month that's $10,800 in payments. They are getting bank offers to buy a 3 year Volt from their leasing company for $10,000 to $12,000. This makes the lease look like a sweet way to go.
This is only because the banks are lowering the buy out prices. Due to low demand and low gas prices. Only time will tell with the BOLT, and if there's demand then the banks won't be bargaining with people on their buyout prices.