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Volvo S60 Lease Questions

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Comments

  • thanks for the reply as i am unsure about dealers and dealerships. thanks again.
  • jcb123jcb123 Posts: 18
    Looking for any comments on following deal:

    2008 Volvo S-60 2.5 T AWD with advanced, premium, and climate packages. Titanium grey.
    MSRP - $37,100
    Price - :confuse: $30,073 (number supposedly used to calc lease)??
    Residual - 44%
    Money factor - .00245
    36 months/12,000 miles
    Monthly payments of $596
    First payment + TTL due at signing

    I know something doesn't seem right about the price above, but that's my best info at the moment. Please see if anything is possible to calculate with the other info and I will try to confirm or correct the one number.
  • Hello jcb123. It looks as though this deal may be being run through an independent bank rather than through Volvo Finance. If that is the case, then there is a $5,250 cash incentive on it that you can use to negotiate an attractive capitalized cost for your lease. In addition to this cash incentive, this car has a spread of just under $2,000 between its full MSRP and its dealer invoice price. This gives you a total of around $7,200 to play with during your negotiations. The $7,027 discount that you were quoted on this car looks good to me. You may want to comparison shop with another dealer or two just to make sure that this is as good as it gets on this car in your area right now, but this looks like a pretty good deal to me.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • I have the following deal from a dealer for a 2008 S60 with premium package in the Miami florida area.

    Initial payment $1,500.

    term 48 months
    Monthly payment $389 plus tax
    Money Factor: 0.01875
    Residual : $12,000

    The only problem is I was not given the Cap cost.

    Is this a good deal?
  • I signed the lease for my 2008 S60 on Saturday. I have a week to decide if I want to purchase a maintenance package for $695 which will cover oil changes, wiper blades, fluids and brake pads for the next 36 months. Anyone do this?
  • qbrozenqbrozen Posts: 16,897
    well... if I assume you took a 15k per year lease, we're talking maintenance for the next 45k miles. In that time, if you change the oil every 5k miles (i don't know what current requirements are of the '08 S60, but 5k is probably too soon), that's 9 oil changes. If you use an independent volvo mechanic, those will be ~$30 each, for a total of $270. You MAY need front brake pads in 45k miles. maybe not. But if you do, you might be looking at $150. Wiper blades? $15 and change them yourself, if so inclined. I dunno. I'm just not seeing $695 being necessary, personally. If you could find out exactly what is included in that ... I mean, they have a schedule they follow, so the dealer should be able to say "we'll do x, y, and z at this number of miles, then xx, yy, zz at this number, etc, etc." And if you feel you want to follow THEIR schedule and overmaintain your leased vehicle, then that is up to you.

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

  • Any idea on Q4 incentives for S60 2.5T 08s? (not R models) Or do these incentives only apply to 07s?
  • Hi geomens. The money factor that you were quoted for this car looks good, but as you said you didn't mention its selling price. This is a very important number to know. The selling prices of leased vehicles are negotiable, just as if you were paying cash for or financing them. One should always find out the selling price and MSRP of the vehicle that they want to lease. They will show you how much of a discount you are being given and to double check the dealer's calculation of your monthly payment. Let me know what these numbers are and I'll tell you what I think.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • Hi gnotcat. I don't believe that Volvo is currently providing any cash incentives on leases of the 2008 S60 through Volvo Finance. It does have $750 dealer cash on this model right now, but it is not compatible with Volvo Finance's special lease program. Volvo is providing a $5,000 cash incentive on leases of 2008 S60 2.5T 2WD models through independent banks.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • Hi Car_man,

    Can you please tell me what are the current rebates (if any) on the 2007 S60R?

    Also, can you please provide MF and residual information for the following terms:

    24 month 12k
    36 month 12k

    Thank you
  • Hi Car_man,

    Can you please provide MF and residual information for a 2008 S60 2.5T AWD and FWD?

    24 month 12k
    36 month 12k

    Also, can you please confirm what incentives are available?

    Thank you
  • Hey Car Man:

    I spoke to my Volvo sales consultant yesterday and he mentioned that Volvo just announced aggressive lease programs on S60s and S80s. I am considering both models, so I would be curious if you knew the current MF and residual for both (24 mo and/or 36 mo; 12K per year). I was in the car, so I couldn't write down the numbers but I think he said there is $6500-$7000 lease support on the S60 and S80. We are coming off lease in February (V70), and I don't know if any loyalty cash is out there as well. I just would like to be prepared before I go in to see him next weekend. Any info would be great.

    Thanks.
  • I just picked up my new 2008 S60 last night. Yes there is $7,000 in lease incentives out there. I am paying $358.15/mo before sales tax for a 36 month lease, 12,000mi, with no money down. With Climate and convenience packages.
  • Slesser, this sounds like a pretty good deal on a no mondy down lease. If you don't mind me asking, what was your MSRP, cap cost, residual and MF (and cash due)? Also, where did you buy? My dealer is quoting $420 on what appears to be a comparably equipped vehicle, also no money down and 12K/36mo. He has been VERY slow to give me a response to my challenges to his contribtion. If you don't mind sharing some more details, it would be helpful.
  • I don't have the actual worksheets for my car as I ended up with the S60 AWD black non-metallic paint, Climate and Premium packages. But I do have the worksheet for the same car with metalic paint.
    The monthly payment for this car came to $366.87 before state tax.

    Actual MSRP - $35,625
    But he used what he called CRV of $38,100 to caluclate residual
    Adj. Grs Cap cost - $26,895 ( after all his rebate money available off the $35,625)
    Residual - .43% (x $38,100) = $16,383
    Total Depreciation - $10,512 ( $26,895 - $16,383)
    Monthly Dep - $292.00
    Mo. lease chg. $ 74.87
    Total due at signing - $1394.96 (1st mo+tax385.21+ $39.75 tax + $970 GAP ins./ Acq Fee / lic & registration fees)

    I did this deal in Massachusetts.
  • Thanks for posting this, I think it is an unbelievable deal.

    Based on what you listed above. You can write a check for $1,394.96 for a car with a $35,625 msrp and then pay $385.21 per month. These numbers even include the 5% sales tax. I am not shocked so much by the payment as I have been able to lease an S60 in the past for $399 per month tax included. What surprises me is the residual of $16,383.

    If you took this deal and paid the $1394.96 and then 35 payments of $385.21, that totals $14,877.31. Now at the end of the lease, you buy it for $16,383 + 5% sales tax, which is $17,202.15. You now own the car and have a total of $32,079.49 invested.

    Compare this with a purchase. The invoice on this car is $33,395 and Edmunds shows a $2500 dealer cash incentive. If you could get the car at invoice and get the entire $2500 incentive, that puts you at a price of $30,895. Add the 5% sales tax gets you up to $32,439.75. So, if you had the money in your hand to buy the car at this price. It actually saves you $360 to take the lease and that assumes that you did absolutely nothing with the $32,000 to earn interest over the next three years.

    I have seen some deals where the lease was almost equal to a purchase but nothing where it was actually cheaper. There most be a lot of incentive money available that is not published.

    Anyway, thanks again for posting and I would say very sweet deal.
  • kgukgu Posts: 4
    The actual cost for purchase should including the interest for the payment. In above case, if you put $32,000 in the bank and the APR is 5%, after 3-year, you will have $1600 x 3 = 4800 in hand. Of course, above calculation is over-simplified. The real difference between leasing and buying should be smaller than this value.
  • thinking of leasing s60 2008 demo
    7-8k miles. here is the pricing.....
    MSRP: 35150
    Invoice: 32987
    Sellling based on:23955.39
    43 % resi.
    36 month
    warranties are good for 36 months. miles start at 0
    premium/climate/AWD
    Black/Black
    $349mth-taxes included
    $ 741 down

    If anyone can tell me what they think greatly appreciate it!
  • qbrozenqbrozen Posts: 16,897
    The selling price is pretty good, I think. But I'm not sure about the money factor. Your depreciation cost alone is only ~245.50, so you are paying over $100/mo for interest and taxes. Off the top of my head, it seems like alot. But I need more details to decide, like the MF, fees, etc.

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

  • Thank you for your response.

    This is what I found.

    MF .00173
    Fees 349/1st payment
    7.50 tires
    125 doc fee
    359 reg

    I look forward to your response.
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