Howdy, Stranger!

It looks like you're new here. If you want to get involved, click one of these buttons!

2013 and earlier Volvo S60 Lease Questions



  • bjsheffbjsheff Posts: 2

    The dealer is now saying that the cash for June on the T5 through independent banks is $8500. Did it change from the $9500 posted for May, or are they missing something (conquest cash, maybe)?

    I am planning on going to the dealership this afternoon or tomorrow. Is there any information available that would tell me whether or not the offer will get better or worse for July? Also, should I be factoring in the $4500 dealer cash?

    Thanks in advance Car_man or anyone else! I hope I'm not being too pushy. I guess I'm just anxious about the timing on these offers AND to get into my new car! Thanks again.
  • qbrozenqbrozen Posts: 19,283
    you aren't being pushy its just that, unfortunately, this board doesn't get alot of attention. you really need either carman or volvomax. maybe try politely emailing them? (if you click on their username, you should be able to get the address)

    '14 Jetta TDI wagon; '98 Volvo S70 base; '14 Town&Country Limited; '09 LR2 HSE. 41-car history and counting!

  • volvomaxvolvomax Posts: 5,274
    Offer won't change,at least thru early July.
    Offer is $9500.
    However, bank lease residuals are dropping July 1 at least 3 points.
    So, if you are gonna lease one,do it before Sunday.
  • 28firefighter28firefighter Seattle, WAPosts: 1,142
    Are the lease incentives still in effect on the S60 R with 11,000 dollar lease cash for leasing through an independent bank?

  • atran38atran38 Posts: 9
    Hi Car_man and all who can help!!!:
    I need your advice on getting a lease for an S60R. I have the following offer from a dealership….
    MSRP 43805
    Cap: 30500
    Upfront out of pocket expense: 650.00 (1st month payment + fees)
    Residual: 32%
    MF: 0035 (I did not negotiate this…not sure if I can)
    Mileage: 15,000 miles
    48 Months
    Monthly Lease: 520.00

    I am new to leasing and would need any advice you can give me. Thank you for your help and time.

  • qbrozenqbrozen Posts: 19,283
    Cap cost seems great. I think maybe you can negotiate the MF. Maybe not, though. It depends on your credit. It does seem a bit high. Since it is through an independent bank, I wonder if you could do you own rate shopping.

    '14 Jetta TDI wagon; '98 Volvo S70 base; '14 Town&Country Limited; '09 LR2 HSE. 41-car history and counting!

  • 28firefighter28firefighter Seattle, WAPosts: 1,142
    Hey just so you are aware, I have a deal on the table for the following on an S60 R AWD 6spd(not sure the details as far as MF or anything at this point since its what was quoted initially):

    MSRP: 50,115
    Capcost: 31,000
    Downpayment: $3000
    Monthly Payment: $434 including tax
    36 Months
    12k miles/year

    The dealership is giving about 9500 off the cars sale price, and then combined with the $10,500 in incentives by volvo for leasing through an independent bank, the deal is stupid cheap to pass on.

    I'm in the philly area, but this car as at a dealer in DC.
  • qbrozenqbrozen Posts: 19,283
    Well, usually cap cost takes the down payment into account, so I believe its more like $6k off before the incentive. But that's still ridiculously cheap. There has to be more incentive money or the dealer is losing money.

    '14 Jetta TDI wagon; '98 Volvo S70 base; '14 Town&Country Limited; '09 LR2 HSE. 41-car history and counting!

  • 28firefighter28firefighter Seattle, WAPosts: 1,142
    Yeah it is ridiculously cheap...I'm waiting for them to come back with the details and then I'll post them here. The dealer is sitting with something like 8 R's and has had them for a while now and they are really looking to move it. I just negotiated sale price first before I even mentioned the lease, and then I mentioned the lease and how I knew there were incentives and that was the number they gave me.

    Its cheaper then what we paid for the V70 T5 we had on a lease 4 years ago...
  • atran38atran38 Posts: 9
    Its alot of incentive for a great car! Do you think a 48 month lease will be better off than a 36mth? I'm planning on purchasing the car once lease is up. Is that a good idea as well? On most cars, I know its not a wise thing to do but with all the incentives, it may be cheaper...
  • atran38atran38 Posts: 9
    I'm wondering the same thing too. I think the MF is way high and am trying to lower that but the dealer is telling me its dependent on my credit (i havent given them my credit app yet). I'm not sure if i calculate it right, but the interest is about $ 7k which seems oddly high.
  • 28firefighter28firefighter Seattle, WAPosts: 1,142
    The deal fell through on the particular car I was looking at, and it was the only manual that they have.

    However I found another car that has what I want that lists for $43,850; Purchase Price: 37,161; Lease-Purchase Price: 30,411. This leads me to believe they are holding back on some of the incentive but this is prior to any negotiation.

    Can anyone double check/confirm that there is still in fact $10,500 in lease incentives on the S60 R AWD for leasing through an independent bank?

  • qbrozenqbrozen Posts: 19,283
    The deal fell through on the particular car I was looking at, and it was the only manual that they have.

    Maybe they realized what I suspected: they were losing money on the deal (?)

    '14 Jetta TDI wagon; '98 Volvo S70 base; '14 Town&Country Limited; '09 LR2 HSE. 41-car history and counting!

  • atran38atran38 Posts: 9
    There is a 11,000 incentive on the car right now through an independent bank.
  • 28firefighter28firefighter Seattle, WAPosts: 1,142
    You're probably right...they said they forgot to hold the car, so it sold to someone else (who offered more or whatever)

    Anyway this is what I have on the table now:

    2007 S60R AWD 6spd
    Titanium Gray
    Sand Soft Interior
    Rear Park Assist
    Interior Air Quality Sensor
    Satellite Radio Prep
    MSRP: 43,850
    Lease-Sale Price: 30,211
    $0 down/With Tax: 475/month, 36 months, 12k miles a year
    $3000 down/With Tax: 376/month, 36 months, 12k miles a year

    That sounds extremely reasonable to does this sound to you qbrozen?
  • qbrozenqbrozen Posts: 19,283
    Sounds great.

    Man, that residual is just atrocious. Anyway, I plugged your numbers into and the best number it spits back is $501 with zero down. So it sounds like you are doing real well.

    I know people usually say put nothing down, but I think I'd go with that $3k down. It saves you nearly $600 through the life of the lease (probably more like $200 if you subtract out lost interest on your part), but, more importantly, it gets you below $400, which is kind of a mental block for me, personally. :)

    '14 Jetta TDI wagon; '98 Volvo S70 base; '14 Town&Country Limited; '09 LR2 HSE. 41-car history and counting!

  • 28firefighter28firefighter Seattle, WAPosts: 1,142
    I'm not to sure where residuals are usually on cars that are leased, but I was quoted 41% residual.

    As far as the 3k down, the getting it below $400/month thing is also a mental block for myself as well haha. ;)

    I had been thinking about picking up a used R, but with these ridiculous lease rates, it pays to lease it first and then buy it out with that lease end buyout. Anyway we are going up to look at the car on saturday since I'll be out of town tomorrow, and if everything works out when we get there (and it isn't sold again), we'll do the deal. It just makes too much sense not to. I appreciate all your help with this!
  • qbrozenqbrozen Posts: 19,283
    Heck, depending on how the lease works, it may be better to buy it out early. All depends on the numbers, of course.

    I don't know if I'm helping nearly as much as living vicariously through you. ;b

    Good luck. I'm jealous.

    '14 Jetta TDI wagon; '98 Volvo S70 base; '14 Town&Country Limited; '09 LR2 HSE. 41-car history and counting!

  • atran38atran38 Posts: 9
    Thats a heck of a deal! Mine is a bit high, i think...I have an S60R with the following:
    MSRP - 43805
    Cap - 30000
    Residual - 32% (14,018)
    Term - 48 months
    Down - 1000.00
    MF - .00385 (I think is high)
    Payments - 500.00

    Couple of questions...can the MF (my credit is good, not excellent) and the residual be negotiated?

    Good job on your lease!!!
  • 28firefighter28firefighter Seattle, WAPosts: 1,142
    the Residuals are non-negotiable, but depending on if the Money Factor is marked up by the dealership will depend if you can negotiate it. If you don't qualify for top tier credit, it will be hard to know for sure what that base rate will be, especially with an independent bank who doesn't publish their information widely.

    I know that doesn't help very much, but I will try and find out the money factor I am being quoted with top tier credit to give you an example.
  • qbrozenqbrozen Posts: 19,283
    maybe you should try checking out that site i mentioned a couple of posts back. $501 with $0 down for 36 months was the quote there. Still not as good as firefighter's, but much better than what you are being quoted.

    You can also put your credit score in there, so maybe that will help you figure if your current quoted rate is accurate or not.

    '14 Jetta TDI wagon; '98 Volvo S70 base; '14 Town&Country Limited; '09 LR2 HSE. 41-car history and counting!

  • atran38atran38 Posts: 9
    Thanks for the link! Looks like i will need to do some more negotiating...:) Yep, i wanted to stay as close to the 400 mark as possible. Thanks again for your help. Anthony
  • fuzzynipsfuzzynips Posts: 37
    I too would like to know if this $11,000 lease cash for independent banks is still going on? I see people here with quotes posted today or a few days ago still including this bonus. Yet, today I emailed a dealer that still had an S60R in stock as to what price they could give me and I also asked if there were any special purchase/lease incentives going on. He made no mention of the lease incentive but told me he could get me the car for the price quoted below "after the savings." Are you people telling me that, on top of his quote, I should be able to go in there and lease through an independent bank and mark off an additional $11,000?!

    These are the numbers I was given:

    2007 Volvo S60R
    Electric Silver Metallic
    Automatic Transmission
    Climate Package
    Rear Parking Assistance
    Satellite Radio Prep.
    18" Pegasus Alloy Wheels

    MSRP: $46,045
    INVOICE: $43,023
    QUOTE: $39,279

    36 months at 568.71
    48 months 505.35

    Accoring to him, I would also need to put the tax, title, license and first payment down at signing which would be around $3,000.

    Besides for the purchase price, those look like terrible numbers. If I lease, I'm rolling the tax into my payments and putting $0 down.

    Please help me out and explain this lease incentive, because if I can go in there and knock the price down a bunch, I will lease through an independent bank tomorrow!
  • 28firefighter28firefighter Seattle, WAPosts: 1,142
    Volvo Finance is offering 11,000 in lease incentives to the dealer if you lease through an independent bank vs. volvo finance (Wells Fargo and USBank are the two popular ones I believe). So you may not be able to knock it down 11,000 from the price you were quoted (since that might include different leasing incentives or puchase incentives)...but right now you should be able to get a lease-price (before any money down) of right around 33-33,000 if I'm using the same template as my number.

    As far your monthly lease rates, they look really high to me, but that sort of thing is based on your lease-purchase price, how much you put down (creating your effective capitalized cost), money factor, and residuals.

    I hope this helps a bit, but your numbers look really high that they quoted.
  • fuzzynipsfuzzynips Posts: 37
    Alright, I'll send him an email back and try to find out what "savings" he was using. Once I get a response, I will ask him about the $11,000 incentive. Obviously, my goal is to get the best possible price before the $11,000 incentive is applied. As far as the lease payments are concerned, I need to find out what residual and MF he was using. Thanks for the confirmation on the $11,000.
  • fuzzynipsfuzzynips Posts: 37
    Alright, I got his message back about the $11,000 incentive and how he got that price. His logic doesn't make any sense, at least not to me.

    The lease bonus comes off the MSRP. You would not take the Purchase incentive and the Lease incentive and put them together. I can not discount the car and put an incentive on the car at the same time, the discount is the incentive. So when you say sale price of $41,000 and then lease incentive of $11,000 that can not be done. Its $11,000 off the $46,045. The $11,000 was used in the lease I quoted.

    So, if I take the $11,000 lease incentive, it HAS to come off of least according to his rules. According to him, he used this deal in his quote. So, how does $46,045 - $11,000 = $39,279????? It should be $35,045 which is still much higher than other people on here are being quoted. He did, however, give me a residual of 40% and a MF of .00215 for 36 months / 15k miles.
  • 28firefighter28firefighter Seattle, WAPosts: 1,142
    What he is essentially telling you is that he is selling the car for list (MSRP). You should be able to, before any incentives, negotiate a purchase price of invoice pricing (can be found here on edmunds). The incentive can be taken off whatever they are selling the car for, what he is doing is using the incentive as the only money he is taking off the car and then making profit off the fact he sold the car for list minus incentives (which have no effect on his profit).

    Clarify with him, what he would sell you the car for before any incentives- like they didn't exist on either a purchase or a lease. Take that number, and then include the incentives off. Your invoice price on that car should be around 42,000 give or take a few dollars.

    For instance here is the deal I have worked (3rd car this time, because the last car I was mentioning was sold...this time they are holding it since I put a deposit down):

    2007 S60R AWD
    Black Sapphire
    Black/Blue Leather Interior
    Premium Pack
    Climate Pack
    Sports Pack
    18" Wheels
    MSRP: 46,045 (roughly)
    Sale Price: $42,000
    Lease Sale Price (including Incentives): $31,000
    Down Payment: $0
    Capitalized Cost: $31,000
    Monthly Payment: $477/month (including Tax), $0 down
    39 Months
    12,000 miles/year

    I hope this helps clarify things for you with that breakdown. My best advice is to have him break it down for you, just the way I broke it down here- that way you can see where everything falls and he can't pull any fast ones. Right now what he is doing, is highballing you A LOT and using the fact there are $11,000 in incentives for leasing to cover up the fact he isn't really discounting the car.
  • fuzzynipsfuzzynips Posts: 37
    Thank you for the post, we both share a common view on how this discount works. To the average person, his price of about $7,000 below MSRP looks good. However, the fact that he didn't give me the full $11,000 discount AND that it was coming off of MSRP and not a negotiated price made the deal bad. I emailed him back and called him out on it saying that we should be able to negotiate a selling price below MSRP before the $11,000 was credited. He reconfirmed that he would only give me it off of MSRP which is when I ended my negotiations with him. I'll have to find another local dealer that has any R's left in stock.
  • fuzzynipsfuzzynips Posts: 37
    I contacted another dealer that has an S60R available. This guy seems to be much better to work with. His initial quote is a little high at about $1,000 over invoice but at least he's not telling me that he can only provide the incentive at MSRP.

    2007 Volvo S60R
    Titanium Gray Metallic
    Automatic Transmission
    Premium Package
    Climate Package
    Satellite Radio Prep.

    MSRP: $44,500
    INVOICE: $41,695
    QUOTE: $42,784 ($1,089 over invoice) [before incentive]

    I am currently waiting for a response on trying to get the selling price at (or closer to) invoice, and what the money factor and residual will be for a lease of 36 months/15,000 miles.
  • 28firefighter28firefighter Seattle, WAPosts: 1,142
    Thats definitely a lot better then what you were dealing with before. Shoot for nothing higher then invoice- trust me, its not like people are totally breaking down dealers doors for the car. Don't let them know you REALLY want the car...its a good bargaining tool. Considering you aren't after a manual transmission, they are a dime a dozen.

    Good Luck! My car is being dealer traded as we speak...should be here the end of the week!
Sign In or Register to comment.
2013 and earlier Volvo S60 Lease Questions - Page 14 — Car Forums at