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2013 and earlier Volvo S60 Lease Questions

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Comments

  • wokscottwokscott Posts: 8
    Hey Car Man,
    How does this sound:
    2007 Volvo S60 T5
    Convenience Package
    Premium Package
    Sport Package
    Metalic Paint
    36 Month/12K per year
    MSRP $37,735
    Cap Cost $23,900
    Money Factor .00207 (US Bank)
    Residual 41%
    $716.04 Drive Off
    $369 + $30 Tax + $399 per month
    What do you think? Does this sound like a good deal? Should I be aware of anything else?
  • qbrozenqbrozen Posts: 17,203
    It is amazing to me that even with $14k off, this costs $400/mo. The residuals are just SO horrible!

    Anyway, considering there is only about a $2300 spread between MSRP and invoice, and the lease incentive is $9k, then it sounds like you are costing the dealer about $2700. I don't know how, but its certainly a fantastic deal for you.

    '13 Stang GT; '86 Benz 300E; '98 Volvo S70; '12 Leaf; '14 Town&Country

  • spiderdanspiderdan Posts: 10
    I would jump on this ASAP - phenominal deal! My cap cost was $25,425 on a 2.5T (metallic/premium/climate) and I thought that was a good deal. Take it and run!
  • What about $499 a month/48 months for a 2007 S60R? And is the $10k off an incentive or a dealer sale? Can I negotiate this harder? This is my first lease. Thanks!

    $499 for 48 months
    MSRP $45,170
    Invoice $35,170
    Residual $15,357
    $2000 down including fees
  • explorer1explorer1 Posts: 6
    Does anybody know what the #'s should be for an S60 lease for 36months/15K per in the Ma. area

    Residual?
    Money factor?
    Daeler rebates?

    Any help would be good.

    Thanks
  • hts666hts666 Posts: 8
    2 months ago I leased an 07 S60R from Volvo of Santa Monica.

    $475(including taxes) for 36 months, 15k miles/year
    MSRP was about 45k
    Final price was 30k
    2k down, including fees and 1st months payment.
    Lease is through US bank.
  • ausdtechausdtech Posts: 37
    The numbers are definitely not right on this. Using the data you provided and a lease worksheet I came up with about $340/month including 8.25% tax. They are packing the payment with something.

    Well, to be precise, the numbers are good but they don't add up right.

    Using Edmunds simple lease calc:

    1.Sticker Price of the car plus options $37,725
    2.Times the residual value percentage X.41
    3.Equals the residual value= $15,467
    4.Invoice price of car minus incentives (net capitalized cost) $23,900
    5.Minus the residual (From line 3) - $15,467
    6.Equals the depreciation over 36 months= $8,433
    7.Depreciation divided by term in months÷ 36
    8.Equals the monthly depreciation payment=$234.25
    9.Net capitalized cost (From line 4) $23,900
    10.Plus the residual (From line 3) + $15,467
    Equals = $39,367
    11.Times the money factor X .00207
    12.Equals money factor payment portion= $81.49

    13.Monthly depreciation payment $234.25
    14.Plus money factor payment portion + $81.49
    15.Equals bottom monthly lease payment = $315.74
    16.Plus tax (using 8.25 as an example) $26.05
    17.Total Payment $341.80
  • qbrozenqbrozen Posts: 17,203
    well, doc fees, acquisition fee, and security deposit might tack on another $1200 or so ... but i think that would still only be like $380-$385.

    '13 Stang GT; '86 Benz 300E; '98 Volvo S70; '12 Leaf; '14 Town&Country

  • wingnut6wingnut6 Posts: 3
    I am wondering if it makes any sense to lease and then purchase the car after a month or so. Current incentive is $10,000 off msrp w/ lease & $8,000 off msrp w/ purchase.

    Does it make any sense to do this to save $2,000, or will there be prepayment penalties and will the payoff amount be too inflated to payoff and make it worthwhile?
  • qbrozenqbrozen Posts: 17,203
    I think it absolutely makes sense for this car.

    However, will you be paying off in cash or with a loan? Reason I ask is I'm not sure how the bank will calculate the interest. If they pack it all in up front, there's actually no point in paying it off because it won't save you any interest. Worse yet, if you are paying it off with a loan, you will be paying interest on the the interest.

    So unless the bank does not pile it all on up front, I would pay the monthly lease payments and wait to buy it at the end of the lease.

    '13 Stang GT; '86 Benz 300E; '98 Volvo S70; '12 Leaf; '14 Town&Country

  • Wow, that's a big difference in payments. My payment originally started at $524 a month and I negotiated down to $499. Do you remember what the first offer was they gave you or how much you negotiated it down? I'd prefer a 36 month lease but they insisted it would be much more expensive. I just have no idea of how much they're actually profiting on this, so I have no idea how much to negotiate. Any help would be appreciated!
  • hts666hts666 Posts: 8
    Actually that was the first quote I got from the dealership, I didnt do any negotiating and I dealt directly with the fleet manager. I called up a few other dealers and nobody could match it. The closest they came was higher by about $20/month.

    I asked about the difference between 36 and 48 month leases and 36 months was a bit lower. Also, the difference between 12k and 15k miles was about $15 per month.

    The dealership is in Los Angeles, so I'm not sure if there would be a price difference in other parts of the country, or if they would have better incentives.

    Here are the exact terms of the lease.

    15k/month for 36 months

    msrp was around 45k
    cap cost: $29989.76
    drive off: 2k (tax, registration, doc fees, 1st months payment and $250 down payment)
    residual: $19304.85
    monthly: 438.96 + 36.04(tax), $475.00 total
    its through US Bank.

    Hope this helps.
  • Thank you for your help hts666. Was yours an automatic S60R? That's the only thing I can think of that my explain the difference in price, as they said the leases were better on automatics. My cap cost is $35,000 but my residual is $15,000. The residual I understand due to the difference in lease lengths. But the cap cost is $5000 different!
  • hts666hts666 Posts: 8
    Yes, its an automatic. No manuals to be found in LA unfortunately.

    Have you contacted other dealerships in your area? Are they offering the same deals? If all other offers are very similar then its probably safe to say that thats the best deal available.

    Good Luck!
  • is this a good deal on a 2007 S60R? if not, please tell me what would be.

    Term: 48 months, 18K miles
    MF: .00320 = 7.68%
    MSRP: 48,070
    Residual: 33%
    Negotiated Price: 35,200.00 (this includes 10K reduction from volvo special
    total trade info: $1,0000
    I have a $3,000 milage penalty becuase i really need 20K miles a year
    sales tax $1,512.50
    Adjusted cap: $34,372.30 (I have a car I own I am trading in)
    Monthly payment $599.25
    Total amount due at signing incld 1st mo. payment 4,000.
    The MF and residual is what i was quoted by the dealership using Chase
  • I would have to say no, but wait for the experts.
  • dm13850dm13850 Posts: 11
    I'm about to close a deal on an S60R, and although the terms are different, I'd say your deal has significant room for improvement. Here's my deal, at a high level:

    Car: S60R with premium and climate
    MSRP: ~$44k
    Cap cost: ~$31k
    Term: 39 months, 12k mi/year
    Due at signing: Only 1st month and DMV (~$550)
    Pre-tax payment: $453
    Payment with 8% tax: $489

    Once I finalize the deal, I'll post all the details, but hopefully this gives you some useful data for comparison.
  • rallyfanrallyfan Posts: 36
    SORRY ROOKIE LIKE YOU BUT HAVE YOU SEEN THE 379 A MONTH NO MONEY DOWN NO FEES JUST SIGN AND DRIVE THEY ARE ADVERTISING IT HERE IN CALIF.
  • volvo_rvolvo_r Posts: 20
    BUT IS IT AN R for $379 per month?
  • hts666hts666 Posts: 8
    Its for the 2.5T, I just got the ad on top of this page.

    2007 Volvo XC90 3.2 - $459 lease per month for 24 months
    2007 Volvo S60 2.5T - $379 lease per month for 36 months
    2007 Volvo S40 2.4i - $329 lease per month for 36 months
  • rallyfanrallyfan Posts: 36
    yeah, i wish also, good luck!
  • maellenmaellen Posts: 3
    I am looking to lease a FWD S60. I would like to put down approx. $5000. Is this a good idea or am I better off negotiating without a downpayment. Currently with $5000 down I am looking at payments of $299 mth for 36 mths, 12,000 miles, 41% residual, MSRP of 35,725. This is my first time leasing--any insight in negotiating the best price is appreciated!
  • volvo_rvolvo_r Posts: 20
    That's waaaaaayyyyy tooo much for a lease
  • maellenmaellen Posts: 3
    Way too much downpayment or monthly?
  • rallyfanrallyfan Posts: 36
    try 10k to 12k off msrp first no down payment just a few fees
  • maellenmaellen Posts: 3
    All of the current promos are ending July 9th. With the 08's arriving soon does anyone know if the leasing incentives will get better with the next promotion or am I better off buying before the 9th?
  • vtdogvtdog Posts: 163
    I can't comment on the validity of the information, but I leased a S-60 in mid May and got what I believe (based on the info I have seen here)a really good deal. We took the car back to the dealer last week to fix a minor issue which required a re-program of the keys and I met the salesman while waiting for the car.

    He said that they expect to run out of S-60s (at least in AWD-which is what I got) before the new '08s arrive due to the recent incentives in leasing. Again, I can't vouch for the info, but as I already had the car about a month there is no reason for him to try and get me motivated to buy/lease now.
  • volvo_rvolvo_r Posts: 20
    way too much for both the down pymt and monthly pymt on S60 2.5t AWD. My dealer is currently advertising $309 mo.$0 due at siging & $0 driveoff 36 mos for his remaing 2007's
  • bjsheffbjsheff Posts: 2
    I am looking at a 2007 S60 T5 with paint, premium, and automatic:
    MSRP - $37555, Invoice - $35223 , TMV - $32167
    Leasing through an independent bank with 15K a year for 36 (or maybe 24) months.

    I have a few questions before I visit the dealer again:

    1. What are the exact current incentives on leasing through an independent bank? You mentioned $9500 on the T5. The salesman quoted $2000 through Volvo VS. $7500 through independent, not in addition to. Should he be combining the $2000 through any source WITH the $7500 through independents? Is there still the $1000 conquest cash that would also apply?

    2. I also noticed the $4500 dealer incentive through July 9. Do they receive the money if the car is leased and/or sold outright, and should I be factoring this into my negotiations? If so, should I deduct it from invoice ($30723) and work from there, focusing on $31-$31.5K.

    3. What is the current residual on the T5 with 15K miles for 24 and 36 months?

    4. Do (or should) the security deposit and acquisition fees get paid up front, or rolled into the payments?

    5. The Edmunds lease calculator begins with the negotiated price, not MSRP, and figures the residual off of that. Am I misunderstanding something, or shouldn't the residual come off of MSRP?

    Thank you so much for any help anyone can give, as well as all of the valuable information I've already learned from these forums.
  • qbrozenqbrozen Posts: 17,203
    i can answer one question.

    5. the lease calculator doesn't figure the residual. you have to manually enter it.

    '13 Stang GT; '86 Benz 300E; '98 Volvo S70; '12 Leaf; '14 Town&Country

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