Edmunds dealer partner, Bayway Leasing, is now offering transparent lease deals via these forums. Click here to see the latest vehicles!
Popular New Cars
Popular Used Sedans
Popular Used SUVs
Popular Used Pickup Trucks
Popular Used Hatchbacks
Popular Used Minivans
Popular Used Coupes
Popular Used Wagons
Comments
Car_man
Host
Prices Paid Forum
'11 GMC Sierra 1500; '08 Charger R/T Daytona; '67 Coronet R/T; '13 Fiat 500c; '20 S90 T6; '22 MB Sprinter 2500 4x4 diesel; '97 Suzuki R Wagon; '96 Opel Astra; '08 Maser QP; '11 Mini Cooper S
Car_man
Host
Prices Paid Forum
Car_man
Host
Prices Paid Forum
Car_man
Host
Prices Paid Forum
Car_man
Host
Prices Paid Forum
Car_man
Host
Prices Paid Forum
Car_man
Host
Prices Paid Forum
How does this sound:
2007 Volvo S60 T5
Convenience Package
Premium Package
Sport Package
Metalic Paint
36 Month/12K per year
MSRP $37,735
Cap Cost $23,900
Money Factor .00207 (US Bank)
Residual 41%
$716.04 Drive Off
$369 + $30 Tax + $399 per month
What do you think? Does this sound like a good deal? Should I be aware of anything else?
Anyway, considering there is only about a $2300 spread between MSRP and invoice, and the lease incentive is $9k, then it sounds like you are costing the dealer about $2700. I don't know how, but its certainly a fantastic deal for you.
'11 GMC Sierra 1500; '08 Charger R/T Daytona; '67 Coronet R/T; '13 Fiat 500c; '20 S90 T6; '22 MB Sprinter 2500 4x4 diesel; '97 Suzuki R Wagon; '96 Opel Astra; '08 Maser QP; '11 Mini Cooper S
$499 for 48 months
MSRP $45,170
Invoice $35,170
Residual $15,357
$2000 down including fees
Residual?
Money factor?
Daeler rebates?
Any help would be good.
Thanks
$475(including taxes) for 36 months, 15k miles/year
MSRP was about 45k
Final price was 30k
2k down, including fees and 1st months payment.
Lease is through US bank.
Well, to be precise, the numbers are good but they don't add up right.
Using Edmunds simple lease calc:
1.Sticker Price of the car plus options $37,725
2.Times the residual value percentage X.41
3.Equals the residual value= $15,467
4.Invoice price of car minus incentives (net capitalized cost) $23,900
5.Minus the residual (From line 3) - $15,467
6.Equals the depreciation over 36 months= $8,433
7.Depreciation divided by term in months÷ 36
8.Equals the monthly depreciation payment=$234.25
9.Net capitalized cost (From line 4) $23,900
10.Plus the residual (From line 3) + $15,467
Equals = $39,367
11.Times the money factor X .00207
12.Equals money factor payment portion= $81.49
13.Monthly depreciation payment $234.25
14.Plus money factor payment portion + $81.49
15.Equals bottom monthly lease payment = $315.74
16.Plus tax (using 8.25 as an example) $26.05
17.Total Payment $341.80
'11 GMC Sierra 1500; '08 Charger R/T Daytona; '67 Coronet R/T; '13 Fiat 500c; '20 S90 T6; '22 MB Sprinter 2500 4x4 diesel; '97 Suzuki R Wagon; '96 Opel Astra; '08 Maser QP; '11 Mini Cooper S
Does it make any sense to do this to save $2,000, or will there be prepayment penalties and will the payoff amount be too inflated to payoff and make it worthwhile?
However, will you be paying off in cash or with a loan? Reason I ask is I'm not sure how the bank will calculate the interest. If they pack it all in up front, there's actually no point in paying it off because it won't save you any interest. Worse yet, if you are paying it off with a loan, you will be paying interest on the the interest.
So unless the bank does not pile it all on up front, I would pay the monthly lease payments and wait to buy it at the end of the lease.
'11 GMC Sierra 1500; '08 Charger R/T Daytona; '67 Coronet R/T; '13 Fiat 500c; '20 S90 T6; '22 MB Sprinter 2500 4x4 diesel; '97 Suzuki R Wagon; '96 Opel Astra; '08 Maser QP; '11 Mini Cooper S
I asked about the difference between 36 and 48 month leases and 36 months was a bit lower. Also, the difference between 12k and 15k miles was about $15 per month.
The dealership is in Los Angeles, so I'm not sure if there would be a price difference in other parts of the country, or if they would have better incentives.
Here are the exact terms of the lease.
15k/month for 36 months
msrp was around 45k
cap cost: $29989.76
drive off: 2k (tax, registration, doc fees, 1st months payment and $250 down payment)
residual: $19304.85
monthly: 438.96 + 36.04(tax), $475.00 total
its through US Bank.
Hope this helps.
Have you contacted other dealerships in your area? Are they offering the same deals? If all other offers are very similar then its probably safe to say that thats the best deal available.
Good Luck!
Term: 48 months, 18K miles
MF: .00320 = 7.68%
MSRP: 48,070
Residual: 33%
Negotiated Price: 35,200.00 (this includes 10K reduction from volvo special
total trade info: $1,0000
I have a $3,000 milage penalty becuase i really need 20K miles a year
sales tax $1,512.50
Adjusted cap: $34,372.30 (I have a car I own I am trading in)
Monthly payment $599.25
Total amount due at signing incld 1st mo. payment 4,000.
The MF and residual is what i was quoted by the dealership using Chase
Car: S60R with premium and climate
MSRP: ~$44k
Cap cost: ~$31k
Term: 39 months, 12k mi/year
Due at signing: Only 1st month and DMV (~$550)
Pre-tax payment: $453
Payment with 8% tax: $489
Once I finalize the deal, I'll post all the details, but hopefully this gives you some useful data for comparison.
2007 Volvo XC90 3.2 - $459 lease per month for 24 months
2007 Volvo S60 2.5T - $379 lease per month for 36 months
2007 Volvo S40 2.4i - $329 lease per month for 36 months
He said that they expect to run out of S-60s (at least in AWD-which is what I got) before the new '08s arrive due to the recent incentives in leasing. Again, I can't vouch for the info, but as I already had the car about a month there is no reason for him to try and get me motivated to buy/lease now.
MSRP - $37555, Invoice - $35223 , TMV - $32167
Leasing through an independent bank with 15K a year for 36 (or maybe 24) months.
I have a few questions before I visit the dealer again:
1. What are the exact current incentives on leasing through an independent bank? You mentioned $9500 on the T5. The salesman quoted $2000 through Volvo VS. $7500 through independent, not in addition to. Should he be combining the $2000 through any source WITH the $7500 through independents? Is there still the $1000 conquest cash that would also apply?
2. I also noticed the $4500 dealer incentive through July 9. Do they receive the money if the car is leased and/or sold outright, and should I be factoring this into my negotiations? If so, should I deduct it from invoice ($30723) and work from there, focusing on $31-$31.5K.
3. What is the current residual on the T5 with 15K miles for 24 and 36 months?
4. Do (or should) the security deposit and acquisition fees get paid up front, or rolled into the payments?
5. The Edmunds lease calculator begins with the negotiated price, not MSRP, and figures the residual off of that. Am I misunderstanding something, or shouldn't the residual come off of MSRP?
Thank you so much for any help anyone can give, as well as all of the valuable information I've already learned from these forums.
5. the lease calculator doesn't figure the residual. you have to manually enter it.
'11 GMC Sierra 1500; '08 Charger R/T Daytona; '67 Coronet R/T; '13 Fiat 500c; '20 S90 T6; '22 MB Sprinter 2500 4x4 diesel; '97 Suzuki R Wagon; '96 Opel Astra; '08 Maser QP; '11 Mini Cooper S
The dealer is now saying that the cash for June on the T5 through independent banks is $8500. Did it change from the $9500 posted for May, or are they missing something (conquest cash, maybe)?
I am planning on going to the dealership this afternoon or tomorrow. Is there any information available that would tell me whether or not the offer will get better or worse for July? Also, should I be factoring in the $4500 dealer cash?
Thanks in advance Car_man or anyone else! I hope I'm not being too pushy. I guess I'm just anxious about the timing on these offers AND to get into my new car! Thanks again.
'11 GMC Sierra 1500; '08 Charger R/T Daytona; '67 Coronet R/T; '13 Fiat 500c; '20 S90 T6; '22 MB Sprinter 2500 4x4 diesel; '97 Suzuki R Wagon; '96 Opel Astra; '08 Maser QP; '11 Mini Cooper S
Offer is $9500.
However, bank lease residuals are dropping July 1 at least 3 points.
So, if you are gonna lease one,do it before Sunday.
Thanks,
Alex
I need your advice on getting a lease for an S60R. I have the following offer from a dealership .
MSRP 43805
Cap: 30500
Upfront out of pocket expense: 650.00 (1st month payment + fees)
Residual: 32%
MF: 0035 (I did not negotiate this not sure if I can)
Mileage: 15,000 miles
48 Months
Monthly Lease: 520.00
I am new to leasing and would need any advice you can give me. Thank you for your help and time.
Regards,
Anthony
'11 GMC Sierra 1500; '08 Charger R/T Daytona; '67 Coronet R/T; '13 Fiat 500c; '20 S90 T6; '22 MB Sprinter 2500 4x4 diesel; '97 Suzuki R Wagon; '96 Opel Astra; '08 Maser QP; '11 Mini Cooper S
MSRP: 50,115
Capcost: 31,000
Downpayment: $3000
Monthly Payment: $434 including tax
36 Months
12k miles/year
The dealership is giving about 9500 off the cars sale price, and then combined with the $10,500 in incentives by volvo for leasing through an independent bank, the deal is stupid cheap to pass on.
I'm in the philly area, but this car as at a dealer in DC.
'11 GMC Sierra 1500; '08 Charger R/T Daytona; '67 Coronet R/T; '13 Fiat 500c; '20 S90 T6; '22 MB Sprinter 2500 4x4 diesel; '97 Suzuki R Wagon; '96 Opel Astra; '08 Maser QP; '11 Mini Cooper S
Its cheaper then what we paid for the V70 T5 we had on a lease 4 years ago...
Its alot of incentive for a great car! Do you think a 48 month lease will be better off than a 36mth? I'm planning on purchasing the car once lease is up. Is that a good idea as well? On most cars, I know its not a wise thing to do but with all the incentives, it may be cheaper...