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2013 and earlier Volvo S60 Lease Questions

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  • dm13850dm13850 Member Posts: 14
    Thanks, vtdog. Sounds like a good deal.
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi spiderdan. It appears as though this lease is being run through an independent bank. Volvo is currently providing large cash incentives on S60s leased through banks other than Volvo Finance. The exact amount of this cash varies by trim level. The exact cash incentives that are available on the S60 are $8,500 on the '07 2.5T and $9,500 on the '07 T5. Make sure to negotiate as low a selling price as possible on the car that you want and then have the special cash incentive subtracted from that.

    Car_man
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  • qbrozenqbrozen Member Posts: 32,863
    $9500 on the T5??? HOLY COW! Any idea if that applies to the V70?

    '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

  • dm13850dm13850 Member Posts: 14
    Car_man, do you know what lease incentives Volvo is offering for the S60R? Thanks!
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Thanks for the additional information, Andy. The fact that you didn't know about the $2,000 lease cash that is being provided on the 2007 Volvo S60 does not necessarily mean that it wasn't being taken into account on your deal. A base 2007 Volvo S60 2.5T only has a spread of around $1,800 between its full MSRP and its dealer invoice price. You are being given a discount of $5,600 on the car that you are interested in. If your lease is being run through Volvo Finance. This is an outstanding deal and probably as good a price as you are going to get.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi realtorken1. You never mentioned the selling price or MSRP of the car that you are interested in leasing. These are important numbers for you as a consumer to know for two reasons. First, the selling prices of leased vehicles can be negotiated, just as if you were paying cash for them. Without knowing this car's selling price in relation to its MSRP you don't know how much of a discount you are getting on it. The second reason is that one needs the selling price and MSRP, including the destination charge, of a vehicle to calculate its lease payment. I would be more than happy to give you my opinion of this deal if you let me know what these numbers are.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hey realtorken1. Ahhh, I see that you did mention this car's selling price. It still would be very helpful if you were able to provide me with its MSRP so that I can see what sort of discount you are being given on it.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    You're very welcome, dm13850. Here's the information that you're looking for. Volvo Finance's current buy rate lease money factor and residual value for a 36 month lease of a 2007 Volvo S60 R with 12,000 miles per year are .00081 and 50%, respectively. When negotiating a lease of this car through Volvo Finance, make sure to take the $2,000 lease cash that is available on it into account. If you decide to lease this car through a bank other than Volvo Finance, make sure to take advantage of the whopping $11,000 cash incentive that is available on leases of it through independent banks.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    No kidding, qbrozen. Volvo is providing a ton of support on leases of its vehicles through independent banks right now. Unfortunately, the cash incentive on leases of the 2007 V70 through independent banks is currently only $4,000.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi dm13850. Please see my response to your original question a couple of posts ago. Let me know if you have any other questions.

    Car_man
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  • wokscottwokscott Member Posts: 8
    Hey Car Man,
    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?
  • qbrozenqbrozen Member Posts: 32,863
    It is amazing to me that even with $14k off, this costs $400/mo. The residuals are just SO horrible!

    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

  • spiderdanspiderdan Member Posts: 10
    I would jump on this ASAP - phenominal deal! My cap cost was $25,425 on a 2.5T (metallic/premium/climate) and I thought that was a good deal. Take it and run!
  • djkronik57djkronik57 Member Posts: 3
    What about $499 a month/48 months for a 2007 S60R? And is the $10k off an incentive or a dealer sale? Can I negotiate this harder? This is my first lease. Thanks!

    $499 for 48 months
    MSRP $45,170
    Invoice $35,170
    Residual $15,357
    $2000 down including fees
  • explorer1explorer1 Member Posts: 6
    Does anybody know what the #'s should be for an S60 lease for 36months/15K per in the Ma. area

    Residual?
    Money factor?
    Daeler rebates?

    Any help would be good.

    Thanks
  • hts666hts666 Member Posts: 8
    2 months ago I leased an 07 S60R from Volvo of Santa Monica.

    $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.
  • ausdtechausdtech Member Posts: 37
    The numbers are definitely not right on this. Using the data you provided and a lease worksheet I came up with about $340/month including 8.25% tax. They are packing the payment with something.

    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
  • qbrozenqbrozen Member Posts: 32,863
    well, doc fees, acquisition fee, and security deposit might tack on another $1200 or so ... but i think that would still only be like $380-$385.

    '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

  • wingnut6wingnut6 Member Posts: 3
    I am wondering if it makes any sense to lease and then purchase the car after a month or so. Current incentive is $10,000 off msrp w/ lease & $8,000 off msrp w/ purchase.

    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?
  • qbrozenqbrozen Member Posts: 32,863
    I think it absolutely makes sense for this car.

    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

  • djkronik57djkronik57 Member Posts: 3
    Wow, that's a big difference in payments. My payment originally started at $524 a month and I negotiated down to $499. Do you remember what the first offer was they gave you or how much you negotiated it down? I'd prefer a 36 month lease but they insisted it would be much more expensive. I just have no idea of how much they're actually profiting on this, so I have no idea how much to negotiate. Any help would be appreciated!
  • hts666hts666 Member Posts: 8
    Actually that was the first quote I got from the dealership, I didnt do any negotiating and I dealt directly with the fleet manager. I called up a few other dealers and nobody could match it. The closest they came was higher by about $20/month.

    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.
  • djkronik57djkronik57 Member Posts: 3
    Thank you for your help hts666. Was yours an automatic S60R? That's the only thing I can think of that my explain the difference in price, as they said the leases were better on automatics. My cap cost is $35,000 but my residual is $15,000. The residual I understand due to the difference in lease lengths. But the cap cost is $5000 different!
  • hts666hts666 Member Posts: 8
    Yes, its an automatic. No manuals to be found in LA unfortunately.

    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!
  • mlroberts55mlroberts55 Member Posts: 5
    is this a good deal on a 2007 S60R? if not, please tell me what would be.

    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
  • realtorken1realtorken1 Member Posts: 14
    I would have to say no, but wait for the experts.
  • dm13850dm13850 Member Posts: 14
    I'm about to close a deal on an S60R, and although the terms are different, I'd say your deal has significant room for improvement. Here's my deal, at a high level:

    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.
  • rallyfanrallyfan Member Posts: 36
    SORRY ROOKIE LIKE YOU BUT HAVE YOU SEEN THE 379 A MONTH NO MONEY DOWN NO FEES JUST SIGN AND DRIVE THEY ARE ADVERTISING IT HERE IN CALIF.
  • volvo_rvolvo_r Member Posts: 20
    BUT IS IT AN R for $379 per month?
  • hts666hts666 Member Posts: 8
    Its for the 2.5T, I just got the ad on top of this page.

    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
  • rallyfanrallyfan Member Posts: 36
    yeah, i wish also, good luck!
  • maellenmaellen Member Posts: 3
    I am looking to lease a FWD S60. I would like to put down approx. $5000. Is this a good idea or am I better off negotiating without a downpayment. Currently with $5000 down I am looking at payments of $299 mth for 36 mths, 12,000 miles, 41% residual, MSRP of 35,725. This is my first time leasing--any insight in negotiating the best price is appreciated!
  • volvo_rvolvo_r Member Posts: 20
    That's waaaaaayyyyy tooo much for a lease
  • maellenmaellen Member Posts: 3
    Way too much downpayment or monthly?
  • rallyfanrallyfan Member Posts: 36
    try 10k to 12k off msrp first no down payment just a few fees
  • maellenmaellen Member Posts: 3
    All of the current promos are ending July 9th. With the 08's arriving soon does anyone know if the leasing incentives will get better with the next promotion or am I better off buying before the 9th?
  • vtdogvtdog Member Posts: 163
    I can't comment on the validity of the information, but I leased a S-60 in mid May and got what I believe (based on the info I have seen here)a really good deal. We took the car back to the dealer last week to fix a minor issue which required a re-program of the keys and I met the salesman while waiting for the car.

    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.
  • volvo_rvolvo_r Member Posts: 20
    way too much for both the down pymt and monthly pymt on S60 2.5t AWD. My dealer is currently advertising $309 mo.$0 due at siging & $0 driveoff 36 mos for his remaing 2007's
  • bjsheffbjsheff Member Posts: 2
    I am looking at a 2007 S60 T5 with paint, premium, and automatic:
    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.
  • qbrozenqbrozen Member Posts: 32,863
    i can answer one question.

    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

  • bjsheffbjsheff Member Posts: 2
    Thanks.

    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.
  • qbrozenqbrozen Member Posts: 32,863
    you aren't being pushy its just that, unfortunately, this board doesn't get alot of attention. you really need either carman or volvomax. maybe try politely emailing them? (if you click on their username, you should be able to get the address)

    '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

  • volvomaxvolvomax Member Posts: 5,238
    Offer won't change,at least thru early July.
    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.
  • 28firefighter28firefighter Member Posts: 9,321
    Are the lease incentives still in effect on the S60 R with 11,000 dollar lease cash for leasing through an independent bank?

    Thanks,
    Alex
    2022 Tesla Model Y Performance, 2018 BMW M240i Convertible
  • atran38atran38 Member Posts: 9
    Hi Car_man and all who can help!!!:
    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
  • qbrozenqbrozen Member Posts: 32,863
    Cap cost seems great. I think maybe you can negotiate the MF. Maybe not, though. It depends on your credit. It does seem a bit high. Since it is through an independent bank, I wonder if you could do you own rate shopping.

    '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

  • 28firefighter28firefighter Member Posts: 9,321
    Hey just so you are aware, I have a deal on the table for the following on an S60 R AWD 6spd(not sure the details as far as MF or anything at this point since its what was quoted initially):

    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.
    2022 Tesla Model Y Performance, 2018 BMW M240i Convertible
  • qbrozenqbrozen Member Posts: 32,863
    Well, usually cap cost takes the down payment into account, so I believe its more like $6k off before the incentive. But that's still ridiculously cheap. There has to be more incentive money or the dealer is losing money.

    '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

  • 28firefighter28firefighter Member Posts: 9,321
    Yeah it is ridiculously cheap...I'm waiting for them to come back with the details and then I'll post them here. The dealer is sitting with something like 8 R's and has had them for a while now and they are really looking to move it. I just negotiated sale price first before I even mentioned the lease, and then I mentioned the lease and how I knew there were incentives and that was the number they gave me.

    Its cheaper then what we paid for the V70 T5 we had on a lease 4 years ago...
    2022 Tesla Model Y Performance, 2018 BMW M240i Convertible
  • atran38atran38 Member Posts: 9
    Yea,
    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...
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