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2013 and earlier Volvo S60 Lease Questions

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  • I wanted to share with everyone what I believe to be a great lease deal in NJ for an '07 Volvo S60 2.5T w/the premium package and climate control package (MSRP $35,345).
    36 mos/12K mile lease--$279/mos (white or red) and $289 ("metallic colors"). NO CAP COST REDUCTION--I picked up a metallic color (titanium) and paid $2061 out of pocket--1st mos, taxes (you pay up front so you don't have to pay each mos---about $760 in total), acquisition fee, motor vehicle/doc/bank fees. No sec. dep. $289/mos--less than an Accord EX V6 or a Maxima, a lot less than a G35 or Acura TL. If you take into consideration that you're paying the taxes up front rather than per month you're only paying $1300 for inception fees. Pretty good, huh? Apparently, Volvo is giving a lease incentive of $9,000--taken off the invoice you're leasing this car for $24K (I still can't believe it). I got mine at Bridgewater Volvo (they also own Volvo of Princeton and Volvo of Edison). Hope this posting helps someone else out!!! Good luck!!!
  • Was that the front wheel drive?

    Also, $9K off the invoice is $26,345, but you quote a selling price of $24K....so it was $11K off invoice then?

    Congrats on your new car by the way!
  • Carforevan,
    The car is FWD not AWD (however, it has last year's Dynamic Stability and Traction Control as a standard option so I feel pretty good--also has the turn signals on the side mirrors--I think that's pretty neat). Also, I must apologize because I'm really not too sure what the actual invoice was on my vehicle because I was only concerned about the bottom line numbers (however, when I just ran it on Edmunds the invoice was about just about $33K--the salesman told me the lease price was $24K and that it was $9K off invoice so I guess he was right there). When I read the ad in the paper today I was really shocked because I recalled last month's special which I think was $369/mos (w/o tax--not sure if it was AWD or the FWD). The deal is also good because I think they're using US Bank which the salesman told me had the lowest money factor and a good residual (there is one program out there that is better than the rest). Regardless, the Volvo was not my first choice but I found a deal I just couldn't pass up (leasing a $35K MSRP car for $289/mos--or $309 when you factor in the tax I paid up front). In fact, today was the first time I'd even test drove one. I was a little leery about the 5 cylinder but with the turbo the S60 really did have good pick up. I'm going to pick up the car on Saturday (my old lease expires next Monday). If you're in the market for an S60 and don't mind foregoing the AWD (in light of the DSTC) this deal seems to be great (the S40 is leasing for more, I think $329, that's how good this seems to be!!!). Ends Aug. 31st. I just wanted to pass this on to everyone because the Edmunds forum was really instrumental in my getting a great deal on an Odyssey (my wife actually mocked me when I spent time writing my original post). Best of luck to you all. Maybe I'll check in later to see if people jump in on this deal. Good luck to you all!!!!
  • Biggerdaddynj,
    I think you got a great deal because the ad was $289/mo with 10.5K miles and $995 down for the S-60 '07. You got $289 with 12k miles and no cap money down. I'm wondering what your deal would equate to with an AWD and 15K miles. The MSRP on the '07 AWD is 37,575 in silver with Premium and Climate Control. I'm thinking 100 more per month would be about right.

    Yeah, it's funny, the lease incentives Volvo is offering are only if you go with a non-Volvo lease! Go figure!!

    Oh one more thing...did they give you a hard time about any excess wear and tear on the car you're turning in? Is it the Odyssey? Just wondering how to avoid those arguments, as I've heard some horror stories lately.

    Thanks for your post and tell your wife we're all car freaks at some time in our life. ;)
  • nybrokernybroker Posts: 18
    I have a fully paid for 2003 S40 with 28,000 miles that I want to sell and lease a 2007 S60 Does anybody know how it would work if I wanted to trade in the car. Put the minimum down on the lease and make monthly payments. Would Volvo cut me a check for the difference say 12-13K.

    Whats my best option I really dont want to go through the hassle of selling it myself but may if they dont give me enough.
  • kyfdxkyfdx Posts: 27,889
    It is basically two separate transactions... They buy your car from you.. then, you lease their car..

    They will cut you a check for the full amount of trade-in allowance, or deduct your start-up costs and cut a check for the difference, whatever you prefer..

    If they won't give you what you think it's worth, then your only other option is to sell it to someone else.

    regards,
    kyfdx

    MODERATOR
    Prices Paid, Lease Questions, SUVs

  • Carforevan,
    Not sure what the figures are for the AWD. The program thru Aug. 31st is for the 2.5T ASR FWD. If you're waiting for the AWD then who knows maybe next month will be your turn to get a deal (last month the deal was for the S40). Turning in an Acura 3.2 TL-S next week (got a great deal on that too--took an '03 when the newly designed '04s were coming in). Had the inspection--no problem at all and Acura is a real class act--give you $1,500 for excess wear/tear (as long as the damage per "incident" does not exceed $500) and no BS dispo. fee. Very generous indeed (they also sent me a $100 gift card to try to lure me back--used it instead to buy Acura swag for my dad and I--hats, coffee mugs, travel bag and some wiper fluid to boot). Too bad the lease programs for the TL are so bad. All I had was a $200 cracked fog light cover--I joked with the inspector that I should knock the car around a bit more to get my money's worth. My dings and dents (and there were several) were all within the limit. Also recently had my wife's Saab inspected (same guy did both cars--I think the company is SGS). We had no problems then either (but Saab was not generous at all--I think they gave you no free excess wear/tear and they also stuck you with a $350 dispo. fee). The Odyssey replaced the Saab (got the Touring edition--I have to admit that I it really is a nice ride). However, I don't know what US Bank provides on excess wear/tear (I do know there's a dispo. fee--waived if you re-up on another vehicle). So, you may have nothing to fear after all. Best of luck though!!!
  • Biggerdaddynj,
    I'm going out today to make a deal on an '07 S-60 AWD (hopefully). I'll let you know how I do. By phone we're down to 15k miles for 36 mos MSRP 37,575 and sellng price of 28K. Payments are around $390. Will try to move it a bit in person, but it's already a good deal I would think with that price. No cap money down of course.

    I'll post again tonight after I buy.

    Oh, also, when you say Saab wasn't good about the excess wear and tear...you mean you had to pay some $$$? How much if you don't mind saying...
    thanks!
  • Carforevan,
    My point about Saab was that as I recall I don't believe they provided you with a "credit" for excess wear/tear whereas Acura gave you a $1,500 credit. However, we still didn't have to pay for any excess wear/tear (and they car did have the inevitable dents and scratches--almost had to pay for a tire but I convinced the inspector to check another part of the tread!!!). In the end, we only had to pay the dispo. fee but I hated having to do that. Seems like you've done a great job getting that price down on '07 S60 AWD. Now you just need to get the best lease program out there!!! Good luck. Let us know what happens.
  • I hope to lease my first Volvo S60 this week. I have Ford A-Plan available. (1)How well does A-Plan help me on a 2007 Volvo lease? (2)If I need 20K miles/year and would like an S60 2.5T or T5 with leather, no NAV, what mo. payment should I expect with $2,000-$2,500 down? (3)Do I really need to negotiate if I use Ford's A-Plan on the deal?
  • Biggerdaddynj,
    Picked up the car last night. I did a little better in person and ended up at $380/month. It was funny, I had talked to one area dealership and the salesaman was such a jerk...telling me "you're not getting leather for that price".. etc. I insisted I was, and his reply was "well, go buy the car then!". I said I WILL!

    Car handles great and I'm really happy with my purchase. The onething I can't figure out: I hear from everyone "just don't buy the car at the end of the lease". My purchase price at the end of three years is $17,500. I don't see how that wouldn't be an offer not to refuse as I could never buy a three year old car at that price. But this is my first lease so, I could be missing something. If anyone has any info on that point, I'd be interested in hearing it......

    Thanks!
  • Can I ask why you want to put money down on a lease??

    As for price of the lease, incentives that I know about (car man...correct me if I'm wrong, also not sure when these expire) are about $7K. So this comes off of MSRP as a minimum. Then you can comparison shop around your area and see who will give you the best price. If you're in the NY area, let me know and I'll pass along more details on my deal and where you can find it. Be sure to get at least 12K or 15K miles per year. These "offers" for 10.5K are a joke. 12K/year is the insurance standard. I know of someone who actually bought and insured a second car because it was cheaper than paying the excess mileage charges he was headed for. Those kinds of deals give leasing a bad name.

    I don't know about the A-plan and all that means, although I heard them say that's the plan they used for my lease. Hopefully someone else can shed some light on that. Good luck with everything!!
  • Hi biggerdaddynj,


    I spoke to the Bridgewater Volvo people this morning, and told
    them I wanted this exact same deal (metallic color, $289 a
    month with no cap cost reduction upfront). The sales guy
    told me that he had the deal, but among the other upfront
    costs, mentioned a "dealer fee" of about $500, which brought
    the total drive-off cost (including taxes) to about $2500.


    This "dealer fee" is not the acquisition fee, right? This is something
    I should negotiate down?


    Thanks!
  • qbrozenqbrozen Posts: 17,201
    The onething I can't figure out: I hear from everyone "just don't buy the car at the end of the lease". My purchase price at the end of three years is $17,500. I don't see how that wouldn't be an offer not to refuse as I could never buy a three year old car at that price.

    Well... depends on what the apprehension is. Many people think that an advantage to leasing is never having a car out of warranty. Buying the car at the end of the lease means you will have a car out of warranty.

    The other issue, for this particular instance, is that volvos depreciate harshly. $17,500 is just an OK price. Compare to an '04 with 36k miles, leather, heated seats, moonroof, etc. and edmunds says trade-in is $16,500. Edmunds is typically high, so I think it would be more like $15k-$15,500. SOOO... at $17,500, you'd be paying near retail for the car. Its not that you shouldn't do it, since that's not a bad price (although this is based on today's numbers. the car could be worth more or less at the actual end of your lease depending on the market at that moment.), but it definitely wouldn't be a deal you couldn't refuse.

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

  • I'm in Ohio, and have a Ford Motor relative which qualifies me for Ford's A-Plan (i.e. special pricing). Don't want to put anything down on an S60 lease if I don't have to, just want to see how to negotiate the lowest lease price and buyout if the A-Plan already provides fixed discounts and buyout ... I'm trying to determine whether there is really any need to negotiate when using the A-Plan.
  • gbrozen,
    '04s are going for $24 - 25K. Show me where I can buy one for $15K and I'll take all you can find!

    A friend at work just bought an '04 too and he got it for around $25.

    KBB has the '04s with 36K miles at $25K too.
  • qbrozenqbrozen Posts: 17,201
    well, I can't buy any for $15k, because i'm not a dealer.

    maybe edmunds is wrong, i don't know. i don't work for them, either.

    HOWEVER, I can tell you that, back in '04, I was offered a leftover brand new 2.5T with premium and sport for $25,500. So buying a used one now for that price seems WAY off.

    Also, just looking at carsdirect now, I see they are offering '06 2.5Ts with premium for $27k. So I'm pretty sure your buddy with the newly purchased '04 got taken.

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

  • Maybe he did get taken, but he seems to be a savvy buyer. Or maybe he rounded up, although that seems odd too.

    Bottom line is I can't imagine being able to buy a three year old S-60 w/premium for less than $17.5 k, but we'll see. Who knows if I'll even want to buy it at that point.

    Sort of wishing I'd looked at picking up one of those '06s though....

    Are you an S-60 owner, and if so, how do you like yours?
  • qbrozenqbrozen Posts: 17,201
    no. I was an S70 owner up until recently (which, by the way, was a 3-year-old loaded T5 with 30k miles that I got for $20k). I looked at the S60 as a replacement, but it just didn't quite do it for me. The backseat is tighter than my 70 was and, meanwhile, while driving, I still felt like I was in my 70 (in other words, it didn't make me feel like I'd be getting a new car ... if you know what i mean). I also tested the S80 out of curiosity. I liked the 60 better.

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

  • ltg58ltg58 Posts: 3
    My buyout on a 04 S60, with 36K miles, after a 3 year lease is $17,500. After reading these replies, I guess that sounds pretty good.
  • ensm00ensm00 Posts: 4
    I am in the NY area and am interested in your deal. Please let me know which dealers you contacted and any more details you can.
  • I am hoping someone experienced leasers can assist. I have negotiated the following, and not sure if I can do any better:
    2007 S 60 AWD Premium and Climate packages with Navigation. 3 year lease, 15k per month. The deal I have pending at the dealership is, $2500 down, $406.00 per month. I know there are rebates that factor in, and I THINK I am getting a prett good deal. But I am not seasoned, so if anyone can give advice, I would certainly welcome it! Thanks to anyone that replies

    Ranger11
  • I'm looking for a very similar S60 lease deal in California, preferably Southern California. The one dealer I spoke with said the NJ lease prices and CA lease prices are apples and oranges. I have a hard time believing that. Does anyone have any experience or dealer recommendations for SoCal? Thanks!
  • Ranger11-
    I think you can do a bit better, alhthough that depends....

    Is your $2500 down a cap cost reduction or is it taxes, license and bank fee? Do you know your MSRP and the Selling Price?

    Do you have any other dealerships in your area to comparison shop with? If so, take your deal to them and see if someone else will beat it.
  • Carforevan...... I am not sure exactly what the $2500. consists of, we just told the dealer we wanted to keep our payment around $400. per month. The first deal we got was at a another local dealer for $2700. at inception, and $409 per month, and that was for FWD, not AWD. It is all inclusive though, taxes first month etc. The dealer said we could even lower that to $1500. at inception and pay $30. more per month. When pricing the vehicle using Edmunds tool with what we are getting in the car, the MSRP is $39,600 and the invoice is $36,800. Thoughts>?? We are going to the dealer today!
  • ranger11,
    It seems like a good deal, but would need a bit more info to be sure...like is the 2500 all taxes, 1st month payment, plus bank fees or does it include cap money down? And how many miles per year are included? That's another key factor. If no cap money down, and you got at least 12K miles per year then I'd say you have a decent offer at $406 per month. My 2007 AWD w/premium and climate on a 36 month lease is $380 w/ 15K miles/yr and no cap money down. You're getting nav which would explain the $20 extra per month, or pretty close. Let me know how it went!
  • Hey....thanks again for the quick reply, I really appreciate it.

    Its 15K per year, and we actually go the deal down to $399. per month. The breakdown on the $2470 down was such:
    $1215 tax
    $ 695 Acquisition Fee
    $ 399 First month
    and reg fee, inspection fee etc making up the other $170.00.

    Thoughts~?? Its not too late for us to keep negotiating, if you think we're missing something.
  • Neednewcacar!
    I have tried several dealerships around L.A and have had very bad experiences. Surreal fee inventions, switches of every kind...I wonder how they sell any cars...(who would sign with things like "tire fee 8.75" in your contract?) I have several dealer replies, contracts to share if you care to know who and what.
    Let me know if you make a deal!
  • This is the best I have been able to work out for this 2006 S60 T5. Is that money factor too high? And do those fees seem excessive - I'm in AZ if that matters?

    I love this forum so far!!!

    MSRP$39145.00
    Cap Cost $26108.00
    Residual $15649.20
    Money factor .00236
    35 payment $389.07 plus tax
    Total out of pocket $2235.30 includes all fees and first payment

    Licenses fees $567.32
    Bank fees after tax $859.40
    Doc fee $388.00
    Total fees $1814.72
  • ranger11,
    Excellent! I'm glad you got the 15K/yr miles. That's the only thing I was worried about. Tell them to give you $100 off the bank fee to match Volvo's 595 and you have a deal. :)

    But you have a good deal anyway, IMO.
    What color by the way? If it's non-metalic, be sure to knock another $475 off both the MSRP and cap cost. :)
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