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Volvo S60 Lease Questions

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Comments

  • sunpro2003sunpro2003 Posts: 15
    Located in NJ.
    Is this a good lease deal?

    2006 S60-AWD-MSRP-$38,335
    Net Cap Cost-$26,477
    Term-36 months
    15K Miles/Year
    Money Factor=.00202(4.85%)
    Residual-$16,484(43%)
    Monthly Lease Payment-$365
    Due on Delivery
    1st payment-$365
    Sales Tax-864
    1st years fees-261
    Security Deposit-0
    Other Upfront costs-777
    Total due at Signing-$2,267.

    1. Is this a good deal? If not, what would you think the payment should be?

    2. If I wait until August 1st, I would think dealers
    would have better lease rates since they want to unload
    2006 models before 2007's come in. Should rates be better in August?

    3. What would you think a lease payment would be on a 2007 S60 AWD($38,000 price) if I can get the 2006 S60 at $365/month for 36 months?

    Thanks
  • volvomaxvolvomax Posts: 5,274
    1 looks good to me

    2 dealers don't control lease rates. Rates are going up, not down. the lease incentive program is designed to unload 06's this month.

    3 who knows? Part of your deal IS the lease incentive $$. No such incentives on an 07.
  • gsjivgsjiv Posts: 18
    did you buy the audi or volvo? i sold my car tonight so i am going to move quickly..i think the audi will do the trick
  • liverichlyliverichly Posts: 25
    the lease incentive program is designed to unload 06's this month.

    Are you saying Volvo is still doing the $10k lease incentive in July?

    An R for under $400/mo on a 36 month lease with 15k miles/year is a great deal IMO, I was expecting it to be in the $500-600/mo range (on a 60 month lease too).
  • volvomaxvolvomax Posts: 5,274
    Lease incentive applies for July.
    However, residuals have dropped so payments will go up slightly anyway.
  • liverichlyliverichly Posts: 25
    Thanks for confirmation of the lease incentive and I hear you on the residuals. Do you happen to know what the residuals are for the 36/48/60 month terms? The flag next to your name makes me think you work for Volvo or something.
  • volvomaxvolvomax Posts: 5,274
    Residuals are bank dependent, and mileage dependent.
    Figure 36 mos @ 41% for 15k/yr
    48 mos @ 33%
  • smartkidsmartkid Posts: 5
    THis is a great deal. I would say go for it. I have a s60, but not all wheel drive. I leased it and the msrp was around $37. My monthly payment is 425 and i put $2000 down. Your deal seems very good. Dont lose it :)
  • smartkidsmartkid Posts: 5
    I was wondering if I should purchase a Volvo XC90 or a Lexus RX350. They are both quite luxurious. The advantage is simplyu that the Lexus is more reliable and that it has 270 horsepower pushing 251 lb torque. Yet, i have a Volvo s60 and i love it. Rides great and no problems since 2002, when i bought it. The Volvo features a turbo and the best crash testing scores i have ever witnessed. Please respond quickly because i need a car for my wife.
  • qbrozenqbrozen Posts: 16,893
    well, you are on a volvo discussion.

    get the xc90.

    personally, i think the lexus suv is quite unattractive.

    '13 Stang GT; '86 Benz 300E; '98 Volvo S70; '12 Leaf; '08 Town&Country

  • liverichlyliverichly Posts: 25
    I think the Volvo SUV is the best looking mid-size SUV on the market.
  • 25stjames25stjames Posts: 6
    Is this a good deal?
    2006 s60 2.5t
    msrp 35,675
    48 months
    12k per year
    $320 per month
    $999 down
  • liverichlyliverichly Posts: 25
    You were right on the button for those residuals.

    I ended up leasing an '06 S60 R yesterday with manual transmission.

    MSRP: 45,020
    Cap Cost: Just under $33k (not including LoJack or PermaPlate which were added during discussion with finance manager)
    Term: 48 months
    Mileage: 15k miles per year
    Residual: 33%
    Money Factor: .00265
    Payment: $557/mo
    $2k total due at signing, $1k went to cap cost reduction
  • sbvolvosbvolvo Posts: 7
    We have been shopping the S60R and received the following lease offer today.

    MSRP: $43,810
    Cap cost: $31,616
    Term: 36 months
    Mileage: 15k
    Residual; 41%
    Money factor: .00236
    Payment: $558.77/mo.
    Due at signing: $898.52

    We mentioned the incentives that I read about here and they were really up front about what they are getting. They even showed us the dealer sheet showing over $11k in incentives right now on the S60R. they have about $10k on the S60 T5 special ed. but we are in love with the R now that we drove it. We really wanted a payment that was around $500-$525 with one payment drive-off. Do you think this is possible?
  • liverichlyliverichly Posts: 25
    Is that the payment including taxes?

    Without I calculate it to be ~$494.

    41% of $43810 is $17692.10

    $31616 - $17692 = $13624 / 36 = $378
    $31616 + $17692 = $49308 x .00236 = $116

    Or total about $494.

    So if they are telling you $558 is the payment without taxes there is something missing or they are wrong. If you want to reduce the payment you'd want to put some money down as a cap cost reduction, or negotiate the cap cost lower.
  • sunpro2003sunpro2003 Posts: 15
    The new quote for July 8th changed from the June 10th quote
    Looks like residual went from 43% to 42%; money factor went up to .00207, cap cost went down by $230 and a $500 rebate went away.

    2006 S60-AWD-MSRP-$38,335
    Net Cap Cost-$26,247
    Term-36 months
    15K Miles/Year
    Money Factor=.00207(4.97%)
    Residual-$16,100(42%)
    Monthly Lease Payment-$370
    Due on Delivery
    1st payment-$370
    Sales Tax-845
    1st years fees-261
    Security Deposit-0
    Other Upfront costs-777 (Money down)
    Total due at Signing-$2,253

    This lease is via US Bank.

    1. The price for the New 2007 S60 was quoted at $417 for 36 months(15K miles/year). So for $47 more per month, I can get a brand new 2007. Is this a decent deal?

    2. What is new in the 2007 S60 versus the 2006 S60?

    3. I received something from Volvo(since I lease an XC90 now) that references a $2,000 loyalty bonus on year end 2006 S60's from 7/6 to 7/31. This is only available if you lease with Volvo finance. Does anyone know about this?

    4. I was told that the payment on either lease can be reduced by $10 per month if I go with 12K versus 15 K miles per year. I usually trade in my leased vehicles about 6 months prior to maturity at mileage below the allowed and they usually pick up the remaining payments and any overmileage if I lease a new vehicle from them.
    Does it make sense to pay the extra $10 for miles if I know I am going to lease another Volvo from them?

    5. Is the Volvo Navigation System available on the 2006 S60? It looks like it pops out of the dashboard which is pretty cool. I like this setup versus the portables that stick to you windshield. However, it looks like a $2K option. Any others you would recommend?

    Thanks
  • volvomaxvolvomax Posts: 5,274
    Well, if you are getting all the incentives, then another $25-50 mo is not happening. You would need another $1-2K off the price of the car.
  • volvomaxvolvomax Posts: 5,274
    1 its your $47/mo.

    2 07 S60 has a new front bumper and tire pressure monitoring is standard.

    3 the 06 lease w/ VFNA is horrible. Even w/ the $2k.

    4 Don't bet that you will be able to get out of your lease early. Esp if it is a bank lease. All that will happen is that your dealer will take the payments and mileage out of the discount on a new car. Take the miles you need and the term you can live with. It will save you money in the long run.

    5 Nav is available on the 06 but very, very rare.
  • liverichlyliverichly Posts: 25
    Honestly I think the Nav for the Volvo (the pop up in the middle) is a little ghetto looking. I've read it's not touch screen, that you control it with some knobs near the steering wheel. For the $2k it costs you can get an aftermarket one for around $1200 less with a lot more features (a Megallan that sticks on your dash). While you have me on it the stereo head unit on the S60 does the job for CD's, but if you want to play MP3 CD's or plug in a non iPod MP3 player it won't support it. Alpine makes a good aftermarket stereo/nav system all in one for around $1k.

    IVA-W200:
    http://www.alpine-usa.com/en/products/product.php?model=IVA-W200

    Read about one user's experience with it here:
    http://forums.swedespeed.com/zerothread?id=60574
  • volvomaxvolvomax Posts: 5,274
    problem w/ the touch screens is that you have to take your eyes off the road to use them. Not safe.
    Having the scrren on top of the dash minimizes this.
    Some other auto makers are following suit.

    The Volvo system can be controlled either by the steering wheel or by a remote control.
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