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Volvo V70 Lease Questions

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Comments

  • stmssstmss Posts: 206
    Out of interest - which brand did you end up with?

    This is my second 9-5 so I kinda know what I am getting into.

    I fear for the future of the plain old V70 - I would like them to introduce a larger wagon but the trend is to push everyone into a SUV or Xover. I am in western Canada so I don't think it is only a local Long Island issue. I had no problem with the dealer showing me a V70 but inventory was 10:1 favouring XC - hence the likely lower lease/purchase rates. I think the dealers fear they cannot resell a plain wagon these days when it comes off lease - but can turnaround an XC70. I found a similar thing happening at Audi a few years ago - dealers would not bring in or sell non-quattros - because they were stuck with them.

    I still have my 99V70 wagon - not sure what I will do with it. Even in 99, I had to get it shipped in and the dealer could not understand why I wouldn't want an XC70. I told them - don't need AWD, don't need extra weight/complexity, lower fuel economy, didn't like the steroid look. Thought I was from another planet.
  • westend2westend2 Posts: 5
    Hi stmss, I can see you are a wagon person like me. I think the whole Volvo experience has turned me off to leasing. I have leased many cars (all wagons of course). I've had 3 Audi's among other cars. But you will probably be surprised to know that I found a 2003 Mercury Sable wagon with only 5100 miles on it. For $10600.00 , I own the car , insurance is less and I can put as much milage on it as I want . It's actually a beautiful car and it is as big as a V70 ! I still have the Volvo which I'll be returning shortly. I 'll owe on excess milage and a $398.00 acquision fee !!? What a rip! I pulled out my original contract to see if I could get out of it, but there it was and I signed it ! They don't exactly highlight it, but I will tell you I have never had to pay it with other manufacters' leases. So in the end you wind up paying to get rid of your leased car !
    By the way, the Mercury Sable wagon is no longer in production. I think 2004 was the last year. Instead of buying Volvo, Ford should have decked out the interior of the Sable added a moonroof etc.,and gave the European luxury wagon manufacters a run for their money. They were so close, this car would surprise you.
  • stmssstmss Posts: 206
    I looked at the Taurus wagon in 99. Mercury is no longer sold in Canada. And the Taurus is now the Freestyle (or vice versa) . I have a Freestyle for work and although spacious it is not wagon like in ride, handling or performance. It is on lease and I am dreading returning it this year - over mileage, cracked windshield, likely need another (3rd) set of tires. For large wagon here we are limited to the 'premium' european models. I think Cadillac has a 'psuedo' CTS wagon? Maybe gas prices will see a resurgence of the domestic wagon?
  • westend2westend2 Posts: 5
    Once you own a wagon, you can't go back ! We can only hope that something good ( like more wagons ) could come out of the high price of gas... so nice to chat with you.
  • We are considering leasing a 2008 or a new 2009 V70 with navigation, premium package, technology package, climate, and roof rails. The car lists for around 41 or 42K. Does anyone have an idea of what the money factor and residuals for leases are on these wagons these days? Any other recent experience with leasing similar cars? Thanks.
  • I'm sorry I can't help with residuals or money factor. Volvo is a great car, however there are no bargins in leasing them. In fact , they have just about the worst lease deals of any car manufacturer I can think of. You can reread some of my experiences in past forums and I now own another brand station wagon. If you do lease one do not go over the milage. They are completely unforgiving even if you are a repeat customer and are standing there with cash in your hand to purchase another. Also ,Volvo has increased the engine size on the V70 from 5 cylinders to 6 for no apparent reason ( it was in fact one of the best rated 5 cylinder engines for many , many years ) thus gas milage is not as good as it was. Of course, they will tell you its a more" efficient" engine. Nothing is as effcient as a 5 cylinder with better gas milage. The only complaint I had about the V70 I owned was that it had a poor turning radius. Yes it is a long car , but you can rarely make a u-turn. Every turn is a three point turn and that is especially scary when traffic is coming.
    My overall rating: good solid product, not so great company, alot of arrogance at the dealerships. Good luck to you with whatever car you decide upon.
  • Hello wannamak. Volvo Finance's lease program for this model varies by term and mileage allowance. You never mentioned what either of these variables are, so for now I will assume that you are interested in a 36 month lease with 15,000 miles per year. Let me know if you want something different.

    Volvo Finance's current buy rate lease money factor and residual value for a 36 month lease of a 2009 Volvo V70 with 15,000 miles per year are .00257 and 48%, respectively. The numbers for an otherwise identical lease of a 2008 V70 are .00242 and 43% in the areas that Volvo is still providing support on it.

    Car_man
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    Prices Paid: Buying & Leasing Experiences Forum
  • miesmies Posts: 2
    Any thoughts on this deal in socal for 2008 V70 w/ premium and convenience packages? I'm a Volvo owner currently.
    36 mo / 12k lease
    msrp $39,220
    cap $29,800
    residual 39% ($15,295)
    $2,250 drive off
    $440/mo
    I'm not sure what the money factor is.
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