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2013 and earlier Volvo S60 Lease Questions

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  • Yes, I leased it for 48 months through Wells Fargo. Payment is $403 after $500 total out of pocket and being about $1K upside down on my Accord EX v-6. Turned out to be cheaper for me (out of pocket)to go with new S60 than to put brakes and tires on the Accord and my monthly payment only went up $15 per month from what I was paying. Dallas Volvo made it all very quick and easy as they already had 07's on their lot. Absolutely love the car!!
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    You're very welcome, montreid.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi 25stjames. I would be happy to give you my opinion on this deal. It would be a big help though if you would post this car's selling price. This is a very important number for you as a consumer to know. The selling prices of leased vehicles are negotiable. Without this number you don't know how much of a discount you are being given. Anyhow, let me know and I'll tell you what I think.

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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Congratulations on your new car, liverichly. Thanks for taking the time to share the details of your lease with everyone. Enjoy!

    Car_man
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  • bgl90291bgl90291 Posts: 5
    How do I find an s60 lease at the best rate described here? Is there any way out of spending hours at every dealership? Is there a service that hunts down the deal I want for a fee?
  • volvomaxvolvomax Posts: 5,274
    How do I find an s60 lease at the best rate described here? Is there any way out of spending hours at every dealership? Is there a service that hunts down the deal I want for a fee?

    Well, if you have to pay a fee, then its hardly the best deal is it?

    There is a simple way, utilize the resources here, go to your local dealer, let them know you are there to buy a car if the numbers are right and get it done.
    Or, you can get quotes from the internet or Fleet Dept.
    Problem is, when someone knows you are shopping, they can low ball you pretty easily.
    There simply is no one best deal, for anyone. There are too many factors to consider. If you spend all your time trying to get to the absolute best price, it can be an unpleasant experience.
  • volvo_rvolvo_r Posts: 20
    Shop by the internet if you go to Volvo's main site you should be able to get refferred to dealers websites which you can submit an email telling them that your shopping bids for the best lease deal. First months leas pymt, security deposit, tax & Lic. If it's an S60 2.5T AWD my local dealer has no money due at signing and $299 mo.
  • bgl90291bgl90291 Posts: 5
    Thank-you. I have not had much success with the dealers doing it the way you describe, they bait and switch and all manor of lies. If you will tell me the place to get an S60 for $299. and no money down it could even be worth it to get it shipped to me in Los Angeles! The best deal offered to me here is $359. with no money down and 12000 mi. per year. Of course, I don't know the $$ details of that deal sale price of car and etc. What say ye wise car_man?
  • volvomaxvolvomax Posts: 5,274
    that is the problem when comparing car deals, esp car deals in different towns. You don't know what the equipment is, what the fees are, or even the lease programs. Some lenders are regional or have different rates for different regions.
    CA like AZ has very high registration fees. If the fees in Podunk are $60 and they are $800 in CA, that impacts your lease.
  • volvo_rvolvo_r Posts: 20
    I made a mistake and posted to much info on my sales rep. name etc. When you call ask for the lease returns guy at Ken Garff Volvo SLC 801-257-3500 & tell him Mark sent you since we have done alot business with him he'll work you the advertised deal. Once you get your paperwork all signed via fax you fly Jet Blue from LA to Salt Lake City, UT & drive back to wherever home is to get the $299 mo. it's still cheaper than $359 mo. Plus the dealer will pick you up at the airport too. If you need more specific information that I'm not supposed to post here let me know your email & I'll send you what you want to know
  • zlskrszlskrs Posts: 9
    There have been many posts with partial info on incentives, terms, etc. From what I can surmise there is perhaps $8K on the S60 and $10K on the S60R, provided you lease with an outside bank (not Volvo Finance). Can someone post exactly what incentives are currently available, and when they expire? Thanks to anyone who can answer.
  • volvo_rvolvo_r Posts: 20
    "Never trust a skinny chef AKA never trust a plump sales person". Based on that this guy and his management are OBESE! This dealer appears to me to be STINGY on sharing any factory money from his dealership with you. Even if he throws all of the factory money back into your deal he still get's his normal commission plus the dealer holdback and the dealer still makes the NORMAL profit. Personally I'd walk, since these guys likely know that you know about the incentive yet they are still trying to pimp the extra Volvo money for themselves. Email like that one from Tony is, thanks but no thanks you need to sharpen your pencil and be more competitive if they want your business. If the deal is not to your liking you'll walk. Car dealers hate customers who shop for the best deal. Why?
    They make less gross profit on each deal. they don't want you to walk especially if your going down the street to do the deal and they know your ready today. I almost backed over a guy once as we were leaving the dealership after the 3rd pencil(deal they were offering)He begged us to come back and said it was crazy anyting could happen his boss really wants to do a deal, why didn't you plead like this with your manager at the 3rd pencil I asked?

    We both know you found the same car for a much better deal elswhere($0 due @ driveoff 299mo.) Once you talk to my guy let me know how it goes. If don't get what you want there is more than one Volvo dealer to shop or even more important do business with. Especially if your willing to travel abit the small inconvience now can more than pay for itself down the road.
  • bgl90291bgl90291 Posts: 5
    It's a mystery why these dealers/salesman aren't eager to move a year old car. I have been in contact with 4!!! of the closest dealers to me, with similar pathetic responses. You'd think the volume in So. Cal allows some leeway for less profit on each car.

    Well, you're right-no mystery... GREED is a sickness!

    Of course, when I ask them to explain the figures, then they never reply!
  • las60rlas60r Posts: 2
    Ok....
    Just to let you all know how super-cool I am.......
    (and I'm not telling you which dealer, salesman name, MF, etc...you can get the financials yourselves)

    Ultimate new 2006 S60R Lease:

    MSRP: $45,245 + $740 (installed bluetooth + ipod adaptor)
    = Total MRSP of $45,985

    Options: (metallic paint, Auto Trans, Premium, Convenience, 18" wheels, air quality system, sirius pre-wire).

    Only missing Nav, Climate package (heated seats), and sport body kit:

    Drumroll please:

    15k, 36 mos
    $3000 out of pocket
    $382 per month including tax.

    The figures above account for ALL payments. Just 3k out of pocket to cover down payment and driveoffs. Thats it.

    Thank you very much.
    Cap Cost (selling price before down payments, etc) =
    $27872

    If you do your math, thats a discount of: $18113

    The conclusion here: I am a leasing WIZARD. I thank god for my Jewishness, which has allowed me to accomplish feats of financing not achievable by mere gentiles.

    And yes, this car was brand new, 20 miles on it, it was not a demo, it was in perfect condition, on the showroom floor. Nobody died in it, blemished it, or so much as looked at it the wrong way. And it was a desirable color...as opposed to sonic blue or some other weird color.
  • volvo_rvolvo_r Posts: 20
    Nice las60r ! I'm just curious which leasing company did they feed your lease through and what was your money factor?
  • genefidgenefid Posts: 1
    market: indianapolis

    06 volvo s60 2.5t
    MSRP 36,225
    basecap cost 25,750
    residual 42%

    with additional 1k down, final drive off including 1st month payment 2.6K.

    montly payment $360 + $21 in tax comes to $381 per month.

    dealer seemed upfront and honest. sounds like a decent deal, thinking of taking it.

    suggestions?
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi zlskrs. Volvo is currently providing a total of $5,000 in cash incentives on the 2006 S60R, regardless of what bank you lease through. On the 2007 S60R Volvo is providing $2,000 cash for leases through Volvo Finance and a total of $9,000 for leases through independent banks. The aforementioned incentives are scheduled to run through the end of August.

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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi bgl90291. I just deleted the post that I am replying to because it contains your e-mail address, which is against the rules of this forum. It's OK to ask someone to e-mail you, but just tell them to get your e-mail address form your profile. Thanks.

    A capitalized cost reduction on a lease is essentially a down payment. It is used to reduce the amount that you are financing. I personally always advise community members against making cap cost reductions on leased vehicles. The main reason that I do so is that if your leased vehicle is totaled in an accident or stolen and never recovered during your lease your cap cost reduction essentially disappears. Consumers can and should lease any vehicle that they want without making any sort of cap cost reduction.

    All banks that lease vehicles to consumers charge a bank aka acquisition fee. Volvo Finance charges a $595 acquisition fee on every vehicles that it leases. Some other banks charge more and some charge less, but the $940 fee that you were quoted is too high. I suspect that the dealer you are working with may be trying to mark your car's bank fee up to add hidden profit to your deal.

    Car_man
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  • I'm about to lease a 2007 Volvo s60T front-wheel drive. I'm offered the price of 2,400 down, which includes tax, bank fee, and first month's payment etc. It is a 42 month lease for $299 per month. What do you guys think? Jump on it? ... or wait/ look for a better deal? I honestly think this is one of the best deals out there. My other lowest offer was $2700 down, $349 a month for 36 months. (But that was for 36 months, as compared to 42 months for the $299.) I've only been to three Volvo dealers so far though, so I'm still unsure. The price for the $299 dealership would be a total of $14,659 for 3.5 years of lease (42 months). The buyout would then be $14,138 after the 42 months. I would love to hear some/any feedback as soon as possible, as I am about to jump ship(buy)! I'm hoping that the salesperson can throw in remote start (which she quotes at $595 additional) to close the deal, or at least offer a discount on it.
  • volvo_rvolvo_r Posts: 20
    That's waaayyy too much money down! My dealer is quoting somebody else in my office for a 2006 s60 2.5T fwd for $299 mo. first pymt security dep tax title license which is less. Time to get some more competitive quotes from other dealers
  • qbrozenqbrozen Posts: 17,210
    you're comparing your buddy's offer on an '06 to this offer on an '07. Considering the monthly payment is the same, I'd say a little more down for the '07 seems like a very good deal in comparison. That is, if you WANT an '07.

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

  • Actually, I just leased the same car (2007 Volvo s60 2.5T with climate and premium package - moonroof, power front seats, heated seats, leather, etc) for 36 months for 10,000 miles for $2300 down (including $140 new plates fee in New York) and $289 a month. This seems like a very good deal to me since it's an '07 for just 36 months. After the math, it's actually about $5 less per month than the 42-month option. So, I'm "giving up" 2,000 miles that I never would've been able to use anyway and leasing the car for a shorter amount of time. (6 months less.)

    What do you guys think? Good Deal? Also, I have to pay a $300 deposition fee to Chase Bank when I return the car. Is this fee generally included in the contract, or does everyone pay the fee at the end of their lease?

    Could I have done any better on this '07 Volvo, 36 mo. 10,000 miles/yr?
  • volvo_rvolvo_r Posts: 20
    Your missing the point cars depreciate. Why toss an extra $1400 down that you'll never see again when you can lease a 2006 for $989 drive off $299 month for same exact car other than model year.
  • qbrozenqbrozen Posts: 17,210
    Nope, I'm not missing the point. I totally understand that, and I'm on your side of the fence. That's why I stated in my post, "if you WANT an '07."

    The poster didn't ask if he should get an '06, he asked how his deal on the '07 looked. And, like I said, compared to your buddy's deal on the '06, $1400 more for an '07, if you WANT an '07, looks decent.

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

  • ltg58ltg58 Posts: 3
    I'm at the end of a 36 month lease, and am interested in buying this 2004 S60. Just under 36K miles. Is the buyout price negotiable at this point? Is the residual value the buyout price?
  • qbrozenqbrozen Posts: 17,210
    at the end of the lease, yes, the residual is the buyout. There may be a fee tacked on, too, though. I'm not sure. Won't be much, in any case.

    Yes, you can negotiate the buyout. You have to call whoever you leased through (whether that is volvo finance or a bank). I suggest you find out the true value of the car beforehand so you know where you stand. If the buyout is $15k and the car is truly only worth $13k, then you obviously want to try to negotiate for $13k.

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

  • volvomaxvolvomax Posts: 5,274
    Not all lease companies will negotiate the buyout.
    Volvo Finance will no longer do so for instance.
  • andre1andre1 Posts: 78
    Car_Man,
    I read the earlier post regarding the attractive lease cash offered by Volvo on the S60R. What are the lease rates (money factor, residual) for the 2006 AND 2007 Volvo S60R for 24 and 36 months (12K and 15K miles per year). Thanks!
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