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2013 and earlier Volvo S60 Lease Questions



  • qbrozenqbrozen Posts: 18,512
    good to have you back, carman

    '14 CTS Vsport; '15 Fit LX 6-spd; '98 Volvo S70 base; '14 Town&Country Limited

  • Hey I decided to go with an S60 because I think I got a really good deal on it, although it is just the base model, just wanted to know what you thought.

    After the Ford Z-plan, the total cost of the car ended up being around 28K, and I put $0 down, only thing i paid at signing was your normal fees + security deposit because i never had a volvo before. So with $0 down i paid 1400 at signing. The acquisition fee was something like $634.

    My lease terms is a 24 mo./12k miles per year lease at $320 per month. Does that sound like a pretty good deal or did I get ripped off any?
  • qbrozenqbrozen Posts: 18,512
    hmmmm... are you sure its just a base model? What was the MSRP? Because carsdirect tells me i could get a no option 2.5T for $26,032 (msrp = $31,335).

    by the way, the volvo website also claims that S60s can be had with a complimentary premium package.

    '14 CTS Vsport; '15 Fit LX 6-spd; '98 Volvo S70 base; '14 Town&Country Limited

  • Well I ended up getting the S60 base, I think the final buying price with Ford A/Z plan ended up being around 26K, 2yr lease/12k miles a year, Im gonna end up paying $310 a month, thats including taxes, and with Zero down.

    I go on Volvo's site pretty frequently, I guess I missed where I could get a complimentary premium package, kinda disappoints me now if thats true.
  • qbrozenqbrozen Posts: 18,512
    well, i don't want you to be disappointed, but I also don't want anyone to think its not true.

    '14 CTS Vsport; '15 Fit LX 6-spd; '98 Volvo S70 base; '14 Town&Country Limited

  • thats no problem, still dont know if I would have even qualified for that free upgrade. Now im hoping I didnt :). Anyway Im really loving this car, and think I got a good lease deal.
  • volvomaxvolvomax Posts: 5,274
    Actually, the free Prem pkg comes out of the dealer money. It is not in addition to it. Also, it isn't available if you lease through VFNA.
  • qbrozenqbrozen Posts: 18,512
    well, there ya go. your deal didn't qualify. Go enjoy!

    '14 CTS Vsport; '15 Fit LX 6-spd; '98 Volvo S70 base; '14 Town&Country Limited

  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    You're welcome, qbrozen.

    Smart Shopper / Prices Paid Forums
  • Hi,

    I was at the dealer tonight and this is what I am seeing... this is a black/black S60R loaded, incl Nav with a MSRP of $45,180. The lease price is $42,930 (seems too high) and the lease specs are MF .00059 and RV of 53%. So for a 36mo/15k lease we are looking around $600 (also seems high) with only minimal down (around $1500 for 1st mth, security dep, doc and reg fees)

    Any thoughts on that one? thanks in advance.

  • qbrozenqbrozen Posts: 18,512
    Well, here's the problem ... carsdirect is showing me a price of almost $5k below INVOICE on S60Rs. Thing is, I don't know how accurate this is since carsdirect is very slow to update their incentives and this special pricing very well may have dried up this month. ALSO, does that special pricing apply to a lease? I dunno.

    That's a really low MF, though.

    According to Edmunds lease calculator, $600 is dead on (well, ok, $600.94) given the selling price, money down, residual, and MF you were quoted ... only thing is I had to compute at my tax rate, which is 6% ... so that may vary depending on where you live.

    '14 CTS Vsport; '15 Fit LX 6-spd; '98 Volvo S70 base; '14 Town&Country Limited

  • volvomaxvolvomax Posts: 5,274
    Can't use the incentives w/ a VFNA lease, and VFNA is the best bet on the R.
  • qbrozenqbrozen Posts: 18,512
    hmmmm... i dunno. $5k difference can make up for ALOT of interest.

    Actually, if I use Edmunds default lease rate of .0029 and knock the additional $5k off the cap cost, I get a payment of $601.98, so just $1 more than paying invoice at the subsidized rate.

    So if one could manage to find a bank or credit union with a lower lease rate than .0029 and the same residual value, then they'd be better off than taking Volvo's deal. Feel free to correct me because leasing is still quite foreign to me.

    '14 CTS Vsport; '15 Fit LX 6-spd; '98 Volvo S70 base; '14 Town&Country Limited

  • volvomaxvolvomax Posts: 5,274
    You forgot about the residual.
    Bank residual is 43%, not the 53% it is w/ VFNA ;)
  • qbrozenqbrozen Posts: 18,512
    OUCH!!! That's horrible! remind me not to buy a new one, will ya?

    '14 CTS Vsport; '15 Fit LX 6-spd; '98 Volvo S70 base; '14 Town&Country Limited

  • volvomaxvolvomax Posts: 5,274
    That is why you lease it thru VFNA ;)

    Then, you just turn it in at the end and let the finance co take the hit.
  • Hi.. thanks for the info.

    Yeah... the MF is good, very good. The dealer is telling me there really are no incentives on this car... too much of a niche market. Anyone hear different?

    So here is where I am...
    MF .00059
    RV 53%
    MSRP 45,180
    Price 42,930 (says it is just 2% over invoice)
    36mo/15k miles
    Monthly payment $673 ($589 + $32 sales tax + 51 excise tax (a MA thing)
    Out of pocket: $1718

    It just seems really high to me, from what I have been reading in these forums.

    Using the calc on it comes out to $566 plus $28 for tax.

  • qbrozenqbrozen Posts: 18,512
    well now you've jumped from $600 to $673. As I said in my post, it would be $600 for me with my state sales tax, which is 6%. Looks like yours is about 5.5%?

    I have no idea what that extra tax is. If you say its mandatory in MA, then I guess there's nothing you can do about it.

    Personally, I think 2% over invoice is still too much. With the huge incentives on purchases Volvomax and I were just talking about, I don't think you should be paying much over invoice at all (or even exactly invoice).

    In any case, I'd ask the dealer why their calculations are not jiving.

    Are you SURE that $589 doesn't already include the tax? Because when I put those numbers into edmunds calculator and use 5.5% tax rate, the total payment comes to about $590 (which, by the way, is $561 + $30 tax, so a bit different than leaseguide told you).

    Another question is, what are all the fees? Are they adding in additional costs that are not being covered by your $1700 down, and, therefore, are being rolled into the payment?

    '14 CTS Vsport; '15 Fit LX 6-spd; '98 Volvo S70 base; '14 Town&Country Limited

  • Hi.

    Yeah.. the first time around I think the dealer had more of a deposit in the calculation. The $589 does not include taxes... it breaks down with $589 + $32 (5% sales tax) + $52 (Called excise tax, state vehicle property tax - I think it is a MA thing) Usually it is not in the lease, we get annual tax bills... but this lender adds it to the monthly payment. So I guess it is really closer to 589 + 32 = $621 with normal lease and tax payments.

    The fees are like this: 1st month payment- $673, Reg- $81, Doc fee $289, and Security $673. Total of $1,718 (rounding errors I guess)

    Now when I ran these figures in Edmunds I am getting like $672. But... not sure I am running them correct.

    This is my first lease, can you tell? ;)
  • Different car, still loaded, no nav.

    MSRP 43,600
    Lease 39,500
    RV 53%
    MF .00059
    15k mile/36mo
    Due at signing $1,500
    Payment is $598 (Really $546 if you don't include the MA Excise (property) Tax)

    I think this one looks pretty good... mid 5's is where I wanted to be.

    Thoughts? Thanks in advance.
  • qbrozenqbrozen Posts: 18,512
    I'm not sure how you are getting $672 through edmunds. Like I said, I'm getting $590 using your numbers (excluding the excise tax).

    Are you using the MSRP in the top box rather than the purchase price? That box is for purchase price. Also, the residual is calculated off the MSRP, not purchase price. So your residual number is like $23k and change. Then, of course, enter your tax rate and MF.

    '14 CTS Vsport; '15 Fit LX 6-spd; '98 Volvo S70 base; '14 Town&Country Limited

  • You know... I might have been doing that, using the MSRP in the top box. It seems to be coming out right now... with my most recent deal number.. .$546 and change.

    I am pretty happy with the number, so I think I am going to pull the trigger.

    Thanks everybody for the assistance.
  • petrus36petrus36 Posts: 19
    I am in Florida and can get the 2006 S60R for $650 drive off and $445/month including tax. This is with the premium package. This sounds like a great deal, no??
    Metallic paint and the plush leather interior.
  • qbrozenqbrozen Posts: 18,512
    That does sound pretty good. Kinda too good. volvomax? is this even possible? With 53% residual and no trunk money, that number isn't possible even with 0% interest on a 3-year lease.

    Then again, you didn't say how many months. Is that like a 60-month lease?

    '14 CTS Vsport; '15 Fit LX 6-spd; '98 Volvo S70 base; '14 Town&Country Limited

  • volvomaxvolvomax Posts: 5,274
    Actually, it is possible, and it is a very good deal.
    Volvo dropped a ton of cash on the S60R if you lease it through a bank.
  • sameemsameem Posts: 8
    I contacted a dealer yesterday about an R, and I was quoted $499 a month including 8.25% tax, with $1995 drive off. This was with an MSRP of $45,670. He said there were new incentives being introduced just today, but didnt specifically say what they were. I have an appt to test drive the car today, I will post more details about the deal tonight when I return. But I think this is an excellent starting ground. I want to get mid $400's with 0 zero down.
  • qbrozenqbrozen Posts: 18,512
    But didn't you say a bank would use a 43% residual?

    And what are current bank rates? Aren't they around .002 MF?

    '14 CTS Vsport; '15 Fit LX 6-spd; '98 Volvo S70 base; '14 Town&Country Limited

  • petrus36petrus36 Posts: 19
    The lease is 36 months/12,000 miles year. I know I should grab it. I don't think they sell too many AWD down here in FL, but I am moving to Vermont and am alittle concerned about the performance tires in the snow. I am also looking at the BMW 325IX, but the lease deal is not as good.
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