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However I found another car that has what I want that lists for $43,850; Purchase Price: 37,161; Lease-Purchase Price: 30,411. This leads me to believe they are holding back on some of the incentive but this is prior to any negotiation.
Can anyone double check/confirm that there is still in fact $10,500 in lease incentives on the S60 R AWD for leasing through an independent bank?
Thanks!
Maybe they realized what I suspected: they were losing money on the deal (?)
'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
Anyway this is what I have on the table now:
2007 S60R AWD 6spd
Titanium Gray
Sand Soft Interior
Premium
Climate
Rear Park Assist
Interior Air Quality Sensor
Satellite Radio Prep
MSRP: 43,850
Lease-Sale Price: 30,211
$0 down/With Tax: 475/month, 36 months, 12k miles a year
$3000 down/With Tax: 376/month, 36 months, 12k miles a year
That sounds extremely reasonable to me...how does this sound to you qbrozen?
Man, that residual is just atrocious. Anyway, I plugged your numbers into Leasecompare.com and the best number it spits back is $501 with zero down. So it sounds like you are doing real well.
I know people usually say put nothing down, but I think I'd go with that $3k down. It saves you nearly $600 through the life of the lease (probably more like $200 if you subtract out lost interest on your part), but, more importantly, it gets you below $400, which is kind of a mental block for me, personally.
'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
As far as the 3k down, the getting it below $400/month thing is also a mental block for myself as well haha.
I had been thinking about picking up a used R, but with these ridiculous lease rates, it pays to lease it first and then buy it out with that lease end buyout. Anyway we are going up to look at the car on saturday since I'll be out of town tomorrow, and if everything works out when we get there (and it isn't sold again), we'll do the deal. It just makes too much sense not to. I appreciate all your help with this!
I don't know if I'm helping nearly as much as living vicariously through you. ;b
Good luck. I'm jealous.
'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
Thats a heck of a deal! Mine is a bit high, i think...I have an S60R with the following:
MSRP - 43805
Cap - 30000
Residual - 32% (14,018)
Term - 48 months
Down - 1000.00
MF - .00385 (I think is high)
Payments - 500.00
Couple of questions...can the MF (my credit is good, not excellent) and the residual be negotiated?
Good job on your lease!!!
I know that doesn't help very much, but I will try and find out the money factor I am being quoted with top tier credit to give you an example.
You can also put your credit score in there, so maybe that will help you figure if your current quoted rate is accurate or not.
'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
These are the numbers I was given:
2007 Volvo S60R
Electric Silver Metallic
Automatic Transmission
Climate Package
Rear Parking Assistance
Satellite Radio Prep.
18" Pegasus Alloy Wheels
MSRP: $46,045
INVOICE: $43,023
QUOTE: $39,279
36 months at 568.71
48 months 505.35
Accoring to him, I would also need to put the tax, title, license and first payment down at signing which would be around $3,000.
Besides for the purchase price, those look like terrible numbers. If I lease, I'm rolling the tax into my payments and putting $0 down.
Please help me out and explain this lease incentive, because if I can go in there and knock the price down a bunch, I will lease through an independent bank tomorrow!
As far your monthly lease rates, they look really high to me, but that sort of thing is based on your lease-purchase price, how much you put down (creating your effective capitalized cost), money factor, and residuals.
I hope this helps a bit, but your numbers look really high that they quoted.
Alex
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The lease bonus comes off the MSRP. You would not take the Purchase incentive and the Lease incentive and put them together. I can not discount the car and put an incentive on the car at the same time, the discount is the incentive. So when you say sale price of $41,000 and then lease incentive of $11,000 that can not be done. Its $11,000 off the $46,045. The $11,000 was used in the lease I quoted.
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So, if I take the $11,000 lease incentive, it HAS to come off of MSRP...at least according to his rules. According to him, he used this deal in his quote. So, how does $46,045 - $11,000 = $39,279????? It should be $35,045 which is still much higher than other people on here are being quoted. He did, however, give me a residual of 40% and a MF of .00215 for 36 months / 15k miles.
Clarify with him, what he would sell you the car for before any incentives- like they didn't exist on either a purchase or a lease. Take that number, and then include the incentives off. Your invoice price on that car should be around 42,000 give or take a few dollars.
For instance here is the deal I have worked (3rd car this time, because the last car I was mentioning was sold...this time they are holding it since I put a deposit down):
2007 S60R AWD
Black Sapphire
Black/Blue Leather Interior
Premium Pack
Climate Pack
Sports Pack
18" Wheels
MSRP: 46,045 (roughly)
Sale Price: $42,000
Lease Sale Price (including Incentives): $31,000
Down Payment: $0
Capitalized Cost: $31,000
Monthly Payment: $477/month (including Tax), $0 down
39 Months
12,000 miles/year
I hope this helps clarify things for you with that breakdown. My best advice is to have him break it down for you, just the way I broke it down here- that way you can see where everything falls and he can't pull any fast ones. Right now what he is doing, is highballing you A LOT and using the fact there are $11,000 in incentives for leasing to cover up the fact he isn't really discounting the car.
2007 Volvo S60R
Titanium Gray Metallic
Automatic Transmission
Premium Package
Climate Package
Satellite Radio Prep.
MSRP: $44,500
INVOICE: $41,695
QUOTE: $42,784 ($1,089 over invoice) [before incentive]
I am currently waiting for a response on trying to get the selling price at (or closer to) invoice, and what the money factor and residual will be for a lease of 36 months/15,000 miles.
Good Luck! My car is being dealer traded as we speak...should be here the end of the week!
I went to the dealer tonight (after giving a phone deposit on saturday) to sign the buyers order and was informed that the sales guy at my dealer did not put a hold in for the car at the other dealer until today, at which point it had been sold.
I'm SO angry right now...and have just about had it...that was the last car in my area, so unless something lands on my doorstep thats too good to pass up, I'm done for now.
Let me know if you end up getting your R! Good Luck!
sorry to hear 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
If a dealer is quoting you anything other then invoice price and then taking off the incentives, you can do better because it means that we will be making more profit. Also remember you're at the end of the model year- he is not gonna wanna be stuck with an '07 car (even if it is discontinued for next year)
Hope this helps.
Any idea what kind of incentives are on the T5 model?
Depending on what your car lists for, what its invoice is, and what your negotiated lease price is before money down, you should be able to get it below 400/month with money down.
Good Luck.
I'll post pictures of it later on once I get my camera, but wow...an amazing car...here are the details of the deal:
2007 Volvo S60 R AWD
Black Sapphire
Nordkap Blue Leather Interior
6spd Manual
Premium Package
Climate Package
18" Wheels
Interior Air Quality System
Volvo Bluetooth
List: $45,700
Sale Price: $40,300
Lease Sale Price (including $11,000 incentive): $29,300
$437/month including Tax
36 Months
12k miles/year
$0 down (Inceptions due at signing only)
Car is absolutely fantastic!!
wow! $16k off is insane!
'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 wonder if there is some sort of chargeback, if you try to buy the lease out in the first few months? If not, it seems that leasing, then buying, would be cheaper than purchasing outright...
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Also...an interesting lil tidbit from when I was signing the papers...in the lease agreement with the independent bank, they had a stipulation in there that says as long as you pay your monthly payment on time, they will cover any excess wear and tear on the car up to a cost of $2000.
Anyway, as long as it stays trouble free I'll be happy. The deal was really painless too.
'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
Thanks. I am negotiating with a dealer on a similar car and they want a bit OVER invoice on an R with a few more options.
Either way, I'm lovin the car!
Or, if you dont want to post this info, please email me at vdriver@yahoo.com
Thanks. Mike
I believe I posted all my numbers further up as far as sale price and everything....but 1500 sounds right.
Car_man
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Prices Paid: Buying & Leasing Experiences Forum
Car_man
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Thanks for the updates on the lease options!!! I'm interested in getting the R; is there any cash incentives going through an independent bank? and if so, how much?
I seen people on here getting about 13-15k off from invoice. According to you, last month was 11k off an R. I hope its still around or maybe even a better incentive.
Thanks again for all your help!!!
Anthony
First off, the dealer would not budge on offering the $10k in leasing incentives after negotiating the actual sales price. He said he didn't understand what I was saying and that the $10k would only come off the MSRP. He said that the MSRP was non-negotiable with the leasing incentive.....This was my face at this point.... :confuse:
Here's what he quoted me:
MSRP: 36,645
Sales Price: 26,645 (after leasing incentive)
Residual: 38%
Rate: .00320
For a 36 month with 12k miles a year, he quoted me $516 a month. In a word....Ridiculous. If you are keeping track.... :confuse: :surprise: and now...... :mad:
When I called him out on the monstrosity of this quote (I can lease an Audi A6 for that amount, which is what I am in now), he just shrugged and said that the "BEST" he could do was throw me in an S60 with just the Premium package for $400 a month but at a 48 month, 12k miles a year lease. Um, WTF? :sick:
Needless to say, I did not accept and walked out. Side note, he would not provide me with all the information posted above at first. I had to pretty much grind it out of him. I'm appalled at the ineptness of the person. I cannot find a face that truly depicts my thoughts.....
The whole experience was dirt. Thanks for all your posts anyhow. I'm going to research some more and find a different car. :P
Car_man
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Car_man
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Prices Paid: Buying & Leasing Experiences Forum
2007 Volvo S60 2.5T FWD
Climate
Premium
Convenience
Metallic Paint
Wood Wheel
3yr, 12000 miles/year
No money down, 379+tax (which comes to $402 for me)
Thanks for any help.
I strongly suggest, however, you lease through an independent bank. Volvo is not offering a strong enough money factor (nor could they) to make up for the extra $5500 you'd get off the car by leasing through an independent bank.
'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 just checked out the car I would like to have. A 6-speed T5 with premium and climate packs. $36k MSRP and a whopping $13,800 residual after 3 years! So for about $15k, I should be able to pick up a 40k-45k mile T5. SWEET!
I shouldn't be terribly surprised, I guess. I mean, I did pick up my 3-year-old 30k-mile S70 T5 for $20k, certified, with an original sticker of nearly $40k. I guess I just assume values would have gone up over the past 6 years.
'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 think the confusion may be in a typo. He said $9k for the 2.5T and "$10,250 for the 2.5T 2wd." But I believe he meant "AWD." I infer this based on the fact that he mentions the $9k for the standard 2.5t just before that AND because 2wd is technically incorrect (its either FWD or AWD).
'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