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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.
Car_man
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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?
'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
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Prices Paid: Buying & Leasing Experiences Forum
Car_man
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Prices Paid: Buying & Leasing Experiences Forum
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
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
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.
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.
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.
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!
'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
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.
That is a GREAT deal, from what I can see.
You've got a good money factor on top of a deep rebate, and no unreasonable fees.
I plugged all your numbers into Edmunds lease calculator and came up with ~$351. So it sounds like the $349 payment you were quoted is right on.
And I must say, a damned nice car for $350/mo. congrats!
'11 GMC Sierra 1500; '08 Charger R/T Daytona; '67 Coronet R/T; '13 Fiat 500c; '20 S90 T6; '22 MB Sprinter 2500 4x4 diesel; '97 Suzuki R Wagon; '96 Opel Astra; '08 Maser QP; '11 Mini Cooper S
I came up with 335.09? I'm not great at this.
Tell me if you would where I went wrong.
MSRP: 35150
Resi: 43%
--------
Resi$: 15114.50
Selling Pr: 23955.39
Res: 15114.50
--------------
Used: 8840.89
/36 mths
--------------
245.58
Selling Pr. 23955.39
Res $: 15114.50
--------------
39069.89
MF .00173
-----------------
Interst 67.59
Payment 245.58
----------------
Mth/Int 313.17
Tax .07
----------------
21.92/mth
Mth/Int 313.17
-------------
335.09
They quoted me $349 plus 741 down. According to my calc. I think they should come down another 10/mth to be fair?
She currently has a 2002 Mazda Tribute with only 36,000mi, all paid for. So in 3 more years this should have about 55K, it will easily go another 3 years. With no car payments for another 3 years.
So, there is prob an acquisition fee rolled into the lease.
Unless the bank is M&I.
Your dealer quote makes sense w/ an acq fee.
'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
Is this bad?
Is this bad?
No, not at all.
You just don't have all the numbers,which is why the payment you come up w/ is off.
36 months at 12k miles/year
$1000 total cash due at signing (have not recieved the breakout yet)
$393 total monthly payment (includes 7% sale tax)
Question: Given that I do not have the particulars from dealer (MF, residual, cap, etc.), does this look like a good deal on the surface? Or, do you think I can hold out for the same terms on a AWD model or a better deal on the FWD?
Any thoughts?
Please help me determine if good deal based on this info from dealer:
MSRP of the vehicle is $33,775 and with Volvo's Value Pack savings you are at $36,300. **What's a value pack and why is it costing me money?**
"Z" plan price is my invoice price of $31,656 minus the "Z" plan incentives brings you down to $26,656., which is the Cap Cost or sale price of the lease.
**Salesman keeps trying to say I'm saving 10K - $36300 to $26656; really?!**
Premium and climate packages plus metallic paint
**Cleveland, heated seats....hope I use them**
The Lease is for 48 months w/12,000 miles per year. The monthly payment, including tax, is $334.82 with Inception Fee's due at signing of $1,023.76 which break down as follows: $334.82-- First months payment
$625.00-- Bank Fee
$ 48.44--Tax on Bank Fee
$ 15.50-- Title Fee and Temporary 30 day tag.
$ 0.00-- Security Deposit and Documentary Fee are waived on "Z"
_________
$1,023.76-- Total due at signing
5. Lease Rate or Money Factor is 1.86 which equates to an interest rate of 4.46%.
The Residual or Buyout price at lease end is $15,609.00.
=========
Okay, so the payment's not too bad, loving rate versus buying. Trying to refi home before leasing but of course the special is only good to 2/29. Anyone have any scoop on March lease specials .Any advice?
Thanks!
Of course you really aren't saving that money...
But, on the plus side, it looks like they use the higher number ($36,300), to calculate the residual (43% of $36,300), so that is why the payment is nice and low...
It's a decent lease deal... if you can live with a 4-year lease.. (I can't..lol)
regards,
kyfdx
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Bank residuals are gonna drop in March.
Plus, Volvo is not committed to lease incentives for the S60 much past March anyway.
So, I doubt you will see any increase in factory support, and you will have a lower residual to boot.
My 2 Volvo leases are up in June. I am happy to buy them out OR lease new ones-My main concern is COST.
Here are the #s
S-80-2.5Tawd,leather,40K miles(by June)
1)My Cost to buy out lease:$24,000 plus 5% interest rate /5 year loan on $ I would use to buy,or $481/Mo,total Interest paid over life of loan=$3,200.
2) My cost to turn in car, $2kmileage,$2Krepairs- $1K allowance=$3,000
3)Kelly Blue Book Value=Trade-$16.2,PrivParty-$18.8,Retail-$22.7
4) My cost to lease a new s80, which is what I would do, for a similarly equipped car and 36 m,15K lease I estimate at $450/mo, but have done very little research.
S60 2.5Tawd,leather,30kmiles (by June)
1) My cost to buy out lease=$20,400 plus 5% interest rate /5 year loan on $ I would use to buy, or $384/mo.Total Interest paid over loan=$2700
2) My cost to turn in car= $3K repairs less $1K repair allowance=$2,000
3) Kelly BBValue=Trade-$15.8,privPrty-$18.2,Retail-$22.1
4) My cost to lease a new s-60, similarly equipped, 36M, 15K, which I would do, is approx. $350-$400/mo, but I have done very little research.
So,do I start shopping or buy the cars-or just one of them-when the lease is up in June? I am trying to reduce my expenses- and I have 3 teenage drivers in the family(that explains all the repair costs...)
Any help is much appreciated.
I'm making that assumption since you say the S80 with 40k miles will cost you $2k in mileage fees (10k miles x 20 cents?).
And, if that is the case, you probably shouldn't lease another one at 15k/yr since you will go over by 15k total miles over the 3 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
Yes they are both 2005, both are 10K miles/year, so I could go with 15K and be OK. THe s80 is currently at 36K but I assume 40K by lease end.The s60 is fine with miles, but needs Cosmetics @2K
Does that help?
Do you think the RV is negotiable on these?
You also may want to think twice about financing them for 5 years if you do buy them out. I mean, you gotta do what you want, but just think that they will be 8 years old before you are done paying for them.
'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
Even if I have to pay $ for mileage and cosmetic/repair to turn in?
Thanks so much for the input. I hadn't considered the "8 yrs old" point..
Of course, that is $5k over trade-in value, which is different than retail value. Retail value would be $1500-$2k over trade-in. So, even at $17k retail, you'd be paying $3k more than that. (if I'm recalling the S60 number correctly, which was about $15k, correct?) I think the S80 was even worse, was it 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
And I think that is one of the good parts of leasing. At least when it works out like this. You have paid less for the car over this term than you would have had you purchased it.
I have 2 leases right now, too. And neither is worth now what the end of the lease buyout is. So, in other words, come the end of the lease, the cars will be worth far less than the buyout amount. Lucky me because I just need to turn them in and walk away, allowing the manufacturer to eat the negative.
'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
'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
Volvo Finance's special lease program for the 2009 XC90 varies by term, mileage allowance, and trim level. You never mentioned what any of these variables are, so for now I will assume that you are interested in a 36 month lease of a 2009 XC90 3.2 5 Passenger AWD with 15,000 miles per year. Let me know if you want something different. The numbers for the aforementioned variables are .00182 and 46%, respectively.
Car_man
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Is buyout option a good deal?
What are chances I can negotiate a lower buyout price from Volvo Finance?
thx for advice.
It would be a good idea to shop around with a few actual dealers to see how much a similar used vehicle is really going for right now before pulling the trigger on buying your S60 at lease-end. Also, it wouldn't hurt to place a call directly to Volvo Finance, or whichever bank you are leasing your car through, to see if they would be willing to negotiate your car's end-of-term purchase price. More likely than not they won't, but you don't have anything to lose by trying.
Car_man
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Car_man
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Prices Paid: Buying & Leasing Experiences Forum