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2013 and earlier Volvo S60 Lease Questions

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Comments

  • qbrozenqbrozen Posts: 17,141
    Also, are the attractive lease rates that people were getting back in August ($299 for 36 months on 07 S60's) not obtainable anymore?

    it may be obtainable now, but it would be on one with far less options than what you are looking at.

    I'm not sure about your numbers, but it would seem to me $694 up front does not cover all the fees. What about security deposit? What about the bank fee (usually $600 by itself)? Maybe these items are throwing you off.

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

  • spiderdanspiderdan Posts: 10
    There is no security deposit but it does seem odd that the bank fee wasn't mentioned. That's probably rolled into the lease. But even at $600, the total monthly payment with tax would be $378. Would it make better sense to pay the bank fees up front?
  • qbrozenqbrozen Posts: 17,141
    Would it make better sense to pay the bank fees up front?

    I would say so. With it rolled into the lease, you are paying interest on it.

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

  • spiderdanspiderdan Posts: 10
    Just returned from another Volvo dealership and my S60 will be delivered fresh with 0 miles next week:

    - MSRP: $35,725
    - Cap cost: $25,425
    - Ohio taxes due upfront (worked into monthly payments): $1,025
    - Residual value: $12,488
    - Money factor: .00191
    - Term: 48 months/12,000 miles
    - Total due at delivery: $1,247 (first payment, doc, title, bank fee)
    - Monthly payment (includes tax): $365.26

    I think I got a great deal - let me know what you all think. I would love to have your input Car_Man.
  • amorenoamoreno Posts: 4
    Car_Man,

    MSRP is 31,680 (including destination charge.

    Question, are you saying i can negotiate the cap cost from around 25K down to 23K becuase of the $2000 cash incentive volvo is providing on leases? if so, i think i should renegotiate and jump on this deal!

    thanks for you input and looking forward to hearing back from you.
    andy
  • 2007 S60 2.5t with sunroof,leather, heated seats, etc. for 36 months/12000 miles per year for $299/month + tax with $2000 due at signing.

    42% Residual
    4.9% Lease which breaks down to ... .000?? You know

    What do you think? With the $2000 down after taxes it would come to about $322 a month DEAL OR NO DEAL??

    Thanks in advance
  • realtorken1realtorken1 Posts: 14
    forgot to mention, price of vehicle is 23,866
  • dm13850dm13850 Posts: 11
    Car_Man and others -

    First, thanks for providing so much great information on this forum. I'm about to lease for the 8th time and I'm sure the advice I've gotten here has saved me many thousands of dollars over the years.

    I'm looking to lease a 2007 S60 R with the following options:
    - Manual transmission
    - Premium package
    - Climate package
    - Interior air quality system
    - Sat. radio prep

    MSRP is $42,975, and I have two questions:

    What are the current MF and residual for 36 months, 12k per year from Volvo?

    What incentives are available right now on this specific model? I've seen reference to the $7k lease incentive through other banks, $1k conquest cash (assume this means I can get it as long as I have a non-Volvo right now), and $2k in general lease cash. Are these all still available?

    Thanks in advance!
  • dm13850dm13850 Posts: 11
    Anyone know the answer to my questions above? I would especially appreciate any info on the current incentives for this model.
  • vtdogvtdog Posts: 163
    I can't speak to your lease, however I just leased the following: '07 S-60 AWD with the 3 big options,cold weather package, upgraded auto-transmission, fog lights, etc.

    The lease was made with 750 down and includes the 8,000 rebate for leasing and is a 48 month-15k/year miles. The residual was 33%. I can't remember the exact figure, but the buy out at the end was about 12500.

    Working the numbers, the lease will cost me $ 500 more than just an outright buy. However, buying only had a 4,500 rebate and I can keep the purchase price (about 32k after 4,500 rebate/dealing with salesman, etc) in the bank and can make 5% easy these days in just a CD. So, for me leasing works out financially.
  • dm13850dm13850 Posts: 11
    Thanks, vtdog. Sounds like a good deal.
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi spiderdan. It appears as though this lease is being run through an independent bank. Volvo is currently providing large cash incentives on S60s leased through banks other than Volvo Finance. The exact amount of this cash varies by trim level. The exact cash incentives that are available on the S60 are $8,500 on the '07 2.5T and $9,500 on the '07 T5. Make sure to negotiate as low a selling price as possible on the car that you want and then have the special cash incentive subtracted from that.

    Car_man
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  • qbrozenqbrozen Posts: 17,141
    $9500 on the T5??? HOLY COW! Any idea if that applies to the V70?

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

  • dm13850dm13850 Posts: 11
    Car_man, do you know what lease incentives Volvo is offering for the S60R? Thanks!
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Thanks for the additional information, Andy. The fact that you didn't know about the $2,000 lease cash that is being provided on the 2007 Volvo S60 does not necessarily mean that it wasn't being taken into account on your deal. A base 2007 Volvo S60 2.5T only has a spread of around $1,800 between its full MSRP and its dealer invoice price. You are being given a discount of $5,600 on the car that you are interested in. If your lease is being run through Volvo Finance. This is an outstanding deal and probably as good a price as you are going to get.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi realtorken1. You never mentioned the selling price or MSRP of the car that you are interested in leasing. These are important numbers for you as a consumer to know for two reasons. First, the selling prices of leased vehicles can be negotiated, just as if you were paying cash for them. Without knowing this car's selling price in relation to its MSRP you don't know how much of a discount you are getting on it. The second reason is that one needs the selling price and MSRP, including the destination charge, of a vehicle to calculate its lease payment. I would be more than happy to give you my opinion of this deal if you let me know what these numbers are.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hey realtorken1. Ahhh, I see that you did mention this car's selling price. It still would be very helpful if you were able to provide me with its MSRP so that I can see what sort of discount you are being given on it.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    You're very welcome, dm13850. Here's the information that you're looking for. Volvo Finance's current buy rate lease money factor and residual value for a 36 month lease of a 2007 Volvo S60 R with 12,000 miles per year are .00081 and 50%, respectively. When negotiating a lease of this car through Volvo Finance, make sure to take the $2,000 lease cash that is available on it into account. If you decide to lease this car through a bank other than Volvo Finance, make sure to take advantage of the whopping $11,000 cash incentive that is available on leases of it through independent banks.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    No kidding, qbrozen. Volvo is providing a ton of support on leases of its vehicles through independent banks right now. Unfortunately, the cash incentive on leases of the 2007 V70 through independent banks is currently only $4,000.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi dm13850. Please see my response to your original question a couple of posts ago. Let me know if you have any other questions.

    Car_man
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