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Volvo XC60 Lease Questions

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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi teamv. The $5,000 cash incentive for leases of the XC60 through independent banks is still available in May. Dealers receive this cash for every lease that they run through a bank other than Volvo Finance. They are free to use the cash as they choose. Make sure that they reduce the selling price that you have negotiated by that amount.

    Car_man
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  • tsh11tsh11 Posts: 4
    Hi ucjjg,

    I am also in Michigan and looking for an XC60. What dealer did you use to purchase your XC60?

    Thanks,

    Terry
  • maxloadmaxload Posts: 5
    Black/Lemon Green is available with all exterior colors except Red, Silver, and Bronze. If you configure the car on Volvo's website it show you want combinations are not available. I ordered a Saville Grey with Black/Lemon Green interior.
  • Thanks for the reply ! How do you like the combo ? I can not find this combo in any dealership in NJ for a personal look. So, I am hesitant in putting a order in. I think the Lemon color offers a lighter twist in the darkness of the rest of the car. And I am tired of beige interiors, refering to the expresso combo.
    I want the climate, convenience, and multimedia pkgs with xenon . Do you or anyone think in the mid 500.00 a month on 36 month lease w/15k. with tax nothing down except inception, 1st month, MV, and bank fee. Do able ? I know the $ 5000 plus $ 1000 incentives are still available.

    Also, did yours come with the wood or not ? or you prefer the all metal.
  • tsh11tsh11 Posts: 4
    What do you guys think of the following offer to lease:

    MSRP: $44,495.00
    A-Plan Price: $42,125.00
    Rebate: $5,000.00
    Gross Cap Cost: $37,125.00
    MF: 0.0024
    Residual:. .46% for 36 month lease with 15,000 miles per year
    Due at Signing:$1,478.59
    Final Payment:$639.39

    The lease is through US Bank and the dealership also offered me an extra $1000 for coming out of an Infiniti lease.

    Thoughts?

    Thanks in advance!
  • I am looking for a similar car with that MSRP. With the extra 1k, that brings the sales price to $ 36,125. I am sure you can go another 1k lower to bring it closer to invoice. I would not get the car other than at invoice or lower which should lower payments to High 500. or low 600 depending your sale tax rate.

    The rebate of $ 5k and $1k are misleading in that without them the car would be price out. Because of the low residual and high money factor. the payment is not far from a ML350, GLK, RX350, MDX. All these cars have a lot higher MSRP but high residual and lower money factor.
  • Can anyone tell me why the independent bank offer sure a low residual and higher moeny factor than Volvo ? is it the they are offering the 5k incentive ? it defeats the savings. I am being quoted a 45% res. and a money factor of .00240 for a $ 44,345 MSRP XC 60. This is with the 3 pkgs, Climate, Convenience, & multimedia. They say the sell price is $ $ 35,234 with 15k and 39 months. $ 577 a month seems high for that selling price. That why I am questioning if they are using a higher money factor to make some money. Anyone can help

    Thank You
  • volvo_guyvolvo_guy Posts: 2
    Can anyone tell me if this is a good deal or not?

    Here are the numbers I have...
    ****I owe 3 payment on current XC90 Lease - Total $1605.00***

    2010 XC60
    Metallic paint, Climate Package, Convenience Package, BLIS, and Personal Car Communicator. MSRP $41,795

    Term 36 mos
    15000 miles per year
    Residual 46%
    Residual Value $19225.70
    Rate factor 0.00250
    Approx Int rate 6.0%
    Payment $585.21/mo

    Upfront fees

    1st Payment 585.21
    8% tax 1685.40
    Origination fee 695.00
    Cap reduct cash 0.00
    Tax on Orig fee 55.60
    DMW etc 190.50
    Total fees 3211.70
    Total fees less equity 4816.70

    Loyalty credit (1000.00)

    Net due at signing 3816.70

    Thanks...Mike

    :confuse:
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi westiethewilly. Manufacturers, like Volvo, often provide support on the leases through their captive finance company that make the money factor lower than it would normally be, residual value higher than it would normally be, or both. Doing so helps them sell more vehicles.

    Independent banks do not have the same incentive to provide artificially low interest rates or high residuals on vehicles. For the most part, the money factors that banks provide on vehicles are in line with the prevailing interest rates and the residual values that they provide are realistic estimates of vehicles' future values.

    Car_man
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    Prices Paid: Buying & Leasing Experiences Forum
  • chiro444chiro444 Posts: 13
    For those of you that are looking for a base model, we were very close to pulling the trigger an XC-60 and went in the dealership with a clear mission. My wife had a 2007 BMW X3 who's lease was coming to an end. Our mission was to get an awesome lease deal like we did before. She had a $460/month lease with just $805 out of pocket.

    After much haggling and leaving the dealer they called and offered the same deal that we got with the BMW: $805 out of pocket and $460/month for 48 months. Instead of getting the Volvo we insteasd ended up buying out her BMW for $4k under the buyout but I wanted to share this since I didn't see anything about leasing the base model.
  • Car Man (or whomever):

    I got this quote from a dealer in Dallas. Please comment:

    MSRP: $38,550.00
    Sell Price: $29,950.00

    LEASE : $399.00 per 39 Months with $4999 down including taxes,fees, first month... 12000 miles per year. 45% residual value, lease end value 17,347.50.

    These numbers are horrible! 45% residual after 39 mos and 12K miles? For a luxury car impregnated with tons of safety features why do they have low resale?

    Is it also true that for every $1,000 down, your payment goes up $50?
  • chiro444chiro444 Posts: 13
    Well it sounds like a great quote if you were to purchase the car but the lease is only okay. Based on my post above, you should be able to get a much better price. My quote was for 48 months though. It sounds about $50 more than mine when you convert the values.
  • jtlajtla Posts: 375
    I have serious doubt about the $29,950 price quote for a XC60 T6 at this time. Are you sure it is a brand new car (not demo or previously registered)? If it is, then the lease payment does not make sense. With a $5k down on a $30k car, your lease payment should be under $300 per month, even at only 45% residual.

    My guess is that the $29,950 is actually the "capitalized cost" after the down payment. Meaning, the selling price is $34,950. Even at that, I think it is still a good deal for T6, being so new to the market. However, because of the miserable residual, your monthly cost will be roughly $527 ($399 + $4,999/39).

    If the $29,950 is in fact the selling price, then forget about the lease. I would get a decent loan and finance the purchase. The monthly payment on a $33,000 loan (assumed TTL) at 5% for 60 month is $623. For only $96 more a month than the lease payment, you will own the car free and clear in 5 years.

    Just my 2 cents.
  • chiro444chiro444 Posts: 13
    BTW, the above info is for a base T6. Just wanted to clarify since they now have a lower priced non-turbo version.
  • Yeah I was waiting for the XC60 3.2 NA but the dealer doesn't have any.

    The dealer said the info I posted above was from US Bank, and for Volvo resids are 50-52%.

    Yes, it looks like the $29K price is after all rebates w/ the down payment, I guess including the $5K(?) incentive for leasing with a non-Volvo Finance company.
  • I was hoping you could post more info on your lease deal. Mileage, residual, price. Did that include taxes? Was $805 all that you paid, or was there more stuff like DMV, Gap Insurance etc. Thanks
  • Does anyone know what the current Volvo residual and money factors are?

    Thanks for your help.
  • zamozamo Posts: 120
    You are complaining about a low residual? Look at the sale price !

    MSRP: $38,550.00
    Sell Price: $29,950.00

    Right there I just see that the car is going to have a [non-permissible content removed] residual
  • Hi--

    New to this forum...Hoping to get some feedback since you all seem far more knowledgeable than me!!!

    We are looking to lease a 2010 3.2 XC 60 w/premium, climate, and convenience (+booster seats) packages. Have been quoted by dealer in northern NJ $3800 down and $525/month for 48 months. For a similarly equipped T6 XC60, we have been quoted $3980 down and $560/month for 48 months. Can you all tell me if this is a good deal?? Car shopping is not fun!

    THANK YOU!!!
  • Could someone please advise the current residual on a 2010 XC60 3 year 15,000 mile MSRP at $40,090. Also the money factor. Thank you.
  • 2010 XC60 3.2
    MSRP: $35,845
    3 years/10k miles
    What are people getting off MSRP for a final negotiated sales price?
    What is the current Residual and MF on this car?

    I'm looking at the lease deal offered through Volvo ending 9/30/09 on the base model but wondered how this translates into real numbers and with additional options.

    Thanks for the help!
  • fantomfantom Posts: 211
    If I'm reading correctly there is $3K in rebates this month going to the buyer, and another $1K going to the dealer, which he may share, or not.

    Is this only on a lease, or does it apply to a purchase also???

    This is what Edmunds has:

    Alternative Lease Assistance cash is available to customers who lease through a third-party institution and not with Volvo Car Finance lease.

    Whatever that means.

    Can an XC60 be custom ordered without the sunroof, and when will the "R" version be available?

    Thanks in advance to anyone who knows!
  • I can help you out, aardy, but I am going to have to make some assumptions since you never mentioned what trim level, term, or mileage allowance you are interested in. Let me know if you want something different.

    Volvo's current buy rate lease money factor and residual value for a 36 month lease of a base 2010 XC60 3.2 FWD with 15,000 miles per year are .00237 and 48%, respectively.

    Car_man
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  • Hi kimber7. Volvo Finance's current buy rate lease money factor and residual value for a 36 month lease of a base 2010 XC60 3.2 FWD with 15,000 miles per year are .00237 and 48%, respectively.

    For a lease on any non-base XC60, you will probably be better off going through a bank other than Volvo Finance and taking advantage of the $3,000 to $4,000 in additional cash that is available on leases of this truck through independent banks.

    Car_man
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    Prices Paid: Buying & Leasing Experiences Forum
  • Hi fantom. Volvo is currently providing a $1,000 dealer cash incentive on any type of purchase or lease of the 2010 XC60.

    the $3,000 that you mentioned is "Alternative Lease Assistance." This means that it is only available on leases of this truck through any bank other than Volvo Finance. If you decide to lease the XC60 that you are interested in say through US Bank it would be eligible for this additional cash on top of the one grand dealer cash.

    Car_man
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    Prices Paid: Buying & Leasing Experiences Forum
  • fantomfantom Posts: 211
    Thanks you, Car Man!

    This is my best understanding on a 3.2L XC60 lease this month:

    * $1,000 Dealer cash incentive applies.

    * $3,500 Customer cash incentive applies, but ONLY if leased through US Bank.

    * 5/5/5 Safe+Sound coverage special may end on 9/30, along with the two incentives, above.

    * No data is available on ordering the R option for an XC60 yet.

    * The 36 month residual from US Bank is 42%; the 48 month residual is 33%; and the lease money factor calculates out to about 5.2% APR.

    Assuming the above is correct, I'm hoping that like for the past several years, incentives will not be reduced through the end of the year, that I will be able to custom order an R, and that maybe, Costco will again run an end of year super special.

    Please comment on my "facts", and my assumptions.

    Why is US Bank the only leasing agency I can use, and who the heck are they?

    Your knowledge, insights, and help is most appreciated!
  • Hi Everyone,

    Really need your help here. I'm interested in buying or leasing (which ever is the better bang for the buck) a 2010 XC60 with Premium pkg, climate package and BLIS. I'm willing to even order the car but still want to ensure a great deal...

    What's the lowest they'd be willing to go on a selling price for such a car?

    Thanks
  • Car_man:

    When and where does this information become available? I was at the dealer last night, and this mirrored exactly what they were able to offer me, invoice minus $1000 dealer incentive and $4000 Alternative Lease Assistance plus the 5 year/60K maintenance/warranty, etc...

    Unfortunately the car was missing the BLIS feature and I hitch, and they are trying to locate one for me with the equipment I want, but if it does not happen today, how will I know tomorrow what the October incentives are? Most people are confident the safe & sound will continue, but I don't know about the other incentives.

    Thanks!
    MC
  • Upon leasing a car are you suppose to tell the dealer you are leasing or do you tell them you are buying so you can first negotiate a price then fiqure out the lease cost from there? thanks
  • tredvr6tredvr6 Posts: 10
    In the case of the XC60 (both the 3.2 and T6), there has been a discount available to those who lease through a 3rd party that has not been available on a traditional purchase. You "should" get a better lease payment by telling the dealer that you plan to lease since the dealer can reduce the capitalized cost of the vehicle by the amount of the lease incentive.

    The dealer with whom I've been working has been very forthcoming with all the information needed to calculate the lease payment (cap cost, money factor, residual), however, not all dealers are willing to share this information. My opinion is to not do business with a dealer who does not share all the information required to determine the lease payment.
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