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Volvo XC60 Lease Questions

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Comments

  • autoboy19autoboy19 Posts: 90
    edited January 2012
    xchelp,

    At first glance, that payment seems high.

    What is included in the down payment?

    Also, it is generally advised not to make such a high down payment when leasing.

    Are you sure they said the residual was 58% for 36 months? That seems too high. Should be more like 48%.

    Also, did that quote include tax?
  • xchelpxchelp Posts: 3
    I got more detail, the msrp is 39,775, residual is .52 money factor .0012. The 4,200 down covers first payment, taxes, bank fee $995, paperwork $330 and the remainder goes toward the car. They came down to $510/month but still over the 36months that is $22,560. Thanks
  • xchelp,

    Does the monthly payment include tax, or all taxes paid up front? Not sure what state you are in.

    Is the MSRP $39,775 and the price they are selling to you before down payment and fees is $37,500?

    Base Acquistion is $795, so they are marking that up $200.

    Money factor looks like the buy rate which is good.

    If you can provide the selling price before any fees or down payment, and also tell me how much of the $4,200 is going to taxes, I can provide you with a better estimate of how good of a deal this is.
  • xchelpxchelp Posts: 3
    I live in NJ, i thought all taxes were up front but i obviously don't know much. The 37.5k that i heard in the original discussion was not given again over the phone it was the msrp 39,775 that was used in their breakdown. Of the 4,200 down i think taxes were .07*(msrp39,775-resid20,680)=1,336,50. Again I am a novice so i could be wrong, but in general have you heard of other people dealings and whereabout their leases $ are?
    Thanks
  • autoboy19autoboy19 Posts: 90
    edited January 2012
    xchelp,

    Based on my calculations, it seems the dealer is selling the car to you at about $38,400 which equates to (38,400-20683)*.07 or $1,240 in taxes.

    As such, ~$1,100 is going as down payment.

    It would be helpful if you could get the exact selling price of the vehicle in order to analyze your deal more closely.

    Unless you really need the payment to be ~$30 lower, I would recommend keeping the down payment money and just paying up fronts.

    Approximate invoice on this vehicle is $37,500.

    Also, I would inquire about A-plan pricing which is invoice.

    You can find a list of eligible companies in this link

    https://pictures.dealer.com/volvodallasvtg/e6e4c5490a0d02b701b7bf86689c1e66.pdf

    If you don't qualify, I would shoot for a selling price of $500 over invoice as well as request the base rate acquisition fee of $795 and you will have a good deal.
  • I certainly can txcosmo. US Bank's January buy rate lease money factor and residual value for a 36-month lease of a 2012 XC60 Premier Plus FWD with 12,000 miles per year are .00112 and 47%, respectively for consumers who qualify for its top credit tier.

    That payment sounds like way too much to pay for an XC60.

    Car_man
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  • akrakr Posts: 14
    Hi Carman,

    Please comment on this lease offer. XC 60 T6 loaded with MSRP 47,625, Cap cost 43,600. 10k miles, 3 years, at delivery cash due 1,900 includes DMV, First Month payment and $695 US Bank fee. Monthly rate $662.00. Residual 51% and MF .0012.

    thanks
  • akrakr Posts: 14
    Also includes 7% tax in the payment of 662.
  • Hi, could you share which dealer you are getting the car from, it appears to be a good deal. thanks.
  • Hi akr. Both he money factor and selling price you were quoted look great. Enjoy your new ride :shades: !

    Car_man
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  • mjg518mjg518 Posts: 5
    edited February 2012
    Car_man,

    Can you also help me out with the money factor and residual for the XC-60 3.2 AWD and XC-60 T-6 for 36 and 48 months with 12k miles per year?

    I am interested in the Premier Plus models.
  • Hi mjg518. US Bank's February buy rate lease money factor and residual value for a 36-month lease of a 2012 XC60 3.2 AWD Premier Plus with 12,000 miles per year are .00112 and 49%, respectively for consumers who qualify for its top credit tier.

    The numbers for an otherwise identical 48-month lease are .00144 and 38%.

    The numbers for the 2012 XC60 T6 Premier Plus are .00112 / 50% and .00144 / 39%.

    Car_man
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  • Car Man:
    Is this a good lease for XC60 Premium with MSRP of 40,515...my acquisition cost is 38,000 I have a trade-in with net equity of 4,670....36 month lease...money factor is .00129.....10,000 miles....residual is 21,130 (that sound low???)...monthly payments including sales tax is 382.00 per month.
    First payment is 1,625.38 which besides the first month payment and deposit includes bank fee and documentation and some additional sales tax (MA) because of the trade in......thanks
  • Hi neswim. I see that you have quite a bit of equity in your trade. There's nothing wrong with trading a vehicle in when you lease a new one, but I always advise consumers to have the dealer cut you a check for any equity that they have in their vehicle rather than using the proceeds from it as a down payment for their lease. Consumers who make large down payments on leased vehicles risk losing part or all of the money that they put down if their vehicle is totaled in an accident or stolen and never recovered. Even though it means that your monthly payment will be higher, it's much safer to go with a zero down lease.

    Other than that the selling price and money factor look good.

    Car_man
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  • v70r_07v70r_07 Posts: 13
    edited March 2012
    Car_man,

    Do you have the below numbers for the month of March?

    XC-60 Premier Plus AWD 36 and 48 months 15k miles per year
    XC-60 T-6 Premier Plus 36 and 48 months 15k miles per year

    Thanks
  • dantanndantann Posts: 8
    Can someone shed some light on what an XC60 3.2 AWD with the Premium package is leasing for in NYC?

    I see the special is only for the FWD but I'm trying to see if there are any deals to be had.
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    I certainly do v70r_07. US Bank's March buy rate lease money factor and residual value for a 36-month lease of a 2012 XC60 3.2 Premier Plus AWD with 15,000 miles per year are .00028 and 46%, respectively for consumers who qualify for its top credit tier.

    The numbers for an otherwise identical 48-month lease are .00128 and 38%.

    The numbers for the XC60 T6 Premier Plus are .00028 / 47% and .00128 / 38%.

    Car_man
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  • marcobjmarcobj Posts: 1
    Hi Car_man,

    What's your thoughts on this lease cost for 2012 XC60?
    Rate .00045
    Residual .38
    12K year, 3 years
    Acq Fee 695
    Adj residual 14920
    Cash 4500
    Monthly payment 521.96

    Too much down payment in my mind. Is there negotiation room with an effort to keep monthly lower and less cash down?

    Thanks.
  • ganunkganunk Posts: 1
    Fantastic service you have here, Car_Man.

    About to pull the trigger on a XC60 T6 with Premier Plus with 12K miles per year.

    Listing money factor at 0.00045, though you list it this month at 0.00028, and a $995 bank fee

    That said, cap cost is 40,300 (no trade in or other cap reduction) -- other sites suggest that figure is less than invoice!

    How is that possible? :confuse:
  • expertbiexpertbi Posts: 23
    Hi Car_man,

    I am a novice at leasing. I don't understand these factors. In terms of dollars to be paid once I negotiate the price what are the cost items to consider - like acc fee, title, taxes, license/reg, doc fee, MV fee (is this same as licesnse/reg fee?). Are there any "gotchas" to look for in the lease agreement?

    Thanks
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi ganunk. Sorry for the delay in my response...I went away on vacation this month and I am almost caught up.

    US Bank charges a $695 acquisition fee on every vehicle that it leases. It appears as though the dealer that you are working with is marking this base fee up by $300...in addition to marking up your money factor a little. See if you can get the dealer to use the buy rate money factor and base acquisition fee on your deal.

    Having said that, a selling price of under dealer invoice is excellent, especially if it isn't taking into account the conquest or loyalty cash...so overall this may still be a good deal even with the mark-ups.

    Car_man
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    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Greetings expertbi. Since you are new to leasing, you definitely should check out the following informative articles on the subject that are available here at Edmunds.com: 10 Steps to Leasing a New Car and Calculate Your Own Lease Payment.

    In short, the easiest way to get a good deal on a leased vehicle is to shop around for the lowest possible selling price and then have the dealer that you decide to go with calculate your vehicle's monthly payment using its buy rate lease money factor. It's really as simple as that.

    Car_man
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  • dps06dps06 Posts: 8
    Carman,

    Could you also provide the lease figures for 36 and 48 months and 15k miles per year on the XC-60 3.2 AWD and T-6?

    Thanks
  • zheckszhecks Posts: 35
    Car_man,

    Could you also provide the lease figures for 36 and 48 months and 15k miles per year on the XC-60 3.2 FWD ?

    Please let me know the money factor and residual.

    thanks
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Here's the information that you're looking for dps06.

    US Bank's May buy rate lease money factor and residual value for a 36-month lease of a 2012 XC60 3.2 AWD with 15,000 miles per year are .00035 and 48%, respectively for consumers who qualify for its top credit tier.

    The numbers for an otherwise identical 48-month lease are .00128 and 38%.

    The numbers for the 2012 XC60 T6 Base model are .00035 / 48% and .00128 / 38%.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi zhecks. US Bank's May buy rate lease money factor and residual value for a 36-month lease of a 2012 XC60 3.2 FWD with 15,000 miles per year are .00035 and 46%, respectively for consumers who qualify for its top credit tier.

    The numbers for an otherwise identical 48-month lease are .00128 and 37%.

    Car_man
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  • rhubesrhubes Posts: 1
    Car Man,

    I am interested in leasing a 2012 XC60 T6 AWD with Platinum package in the DC area. I saw your message that:

    US Bank's May buy rate lease money factor and residual value for a 36-month lease of a 2012 XC60 3.2 AWD with 15,000 miles per year are .00035 and 48%, respectively for consumers who qualify for its top credit tier.

    Are the numbers the same for a 12K mi/year lease and for the Platinum package (or does that matter)?

    Any info is much appreciated!

    Thanks in advance.
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi rhubes. The money factors for an XC60 with the Platinum package would be the same, but the residual values would be 2% lower...until they are adjusted for 12,000 miles per year. I believe that the 12k residual value would be 1% higher than the 15k residual.

    Car_man
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  • radoncgsradoncgs Posts: 58
    Thanks Car_man for the message. Am I correct that a money factor of .00035 equals an APR of 0.84%? That sounds too much a good deal? or is my calculation wrong? Thanks.
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Your calculation was right on the money radoncgs. Volvo is offering very low interest rates on leases right now.

    Car_man
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