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2013 and earlier Volvo S60 Lease Questions

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  • romil01romil01 Member Posts: 75
    Car_Man,

    This is the quote I got from Volvo of Las Vegas:

    2013 S60 FWD, Platinum, with BLIS, Climate Package, Heated Rear Seats, Spoiler
    36 months / 15K per year
    MSRP: $40,920
    Invoice: $38,666
    Selling Price: $38,000
    Net Cap Cost: $38,691 (includes acq fee)
    Drive Off: $1,095
    MF: 0.00001
    Residual: 52%
    Monthly Payment with 8.1% tax: $524

    They also plan to write me a check for $1,395 to payoff the remaining 4 lease payments I have on my Hyundai Sonata.

    What do you (or anyone else) think of this deal? The residual obviously isn't great, but the money factor is.
  • jtk27jtk27 Member Posts: 1
    CarMan,

    Can you tell me the current money factor and residual Volvo is using on the new $359 per month lease deal on the 2013 T5 S60?

    I want to calculate how much the monthly nut would rise if I added a few options.

    http://www.volvocars.com/us/all-cars/volvo-s60/tools/Pages/offers.aspx

    Thanks in advance.
  • romil01romil01 Member Posts: 75
    Forgot to mention in my original post that it is a T5.
  • autoboy19autoboy19 Member Posts: 152
    jtk27,

    Money factor is .00001

    Residual for 24 months and 10K miles (terms in the ad) is 66%

    Other residuals are as follows:

    Premier 66%
    Premier Plus 65%
    Platinum 63%
  • bpvolvo8bpvolvo8 Member Posts: 7
    I just entered into a 39 month lease for a 2013 S60 T5 FWD with premier plus and climate packages. I got 15,000 miles/year. I put $267 down at signing total. I am paying $400/month including taxes. I played several dealers against each other. Was this a good deal? Please advise.
  • romil01romil01 Member Posts: 75
    What are the MSRP, selling price, net cap cost, and money factor on the vehicle? Those are important to know to determine if it is a good deal.
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi romil01. Why do you say that this isn't a good deal? You got the lowest possible money factor, a selling price that's under dealer invoice AND they cut you a check for nearly $1,400. I'd say that looks like a pretty darn good deal to me.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi jtk27. Volvo Finance's December buy rate lease money factor and residual value for a 36-month lease of a 2013 S60 T5 FWD with 10,000 miles per year are .00001 and 58% for consumers who qualify for its top credit tier.

    I used a 3% adder to the 15,000 mile per year residual value to come up with a 10k resid, but since Volvo Finance is brand new I'm not positive that it's correct.

    Car_man
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  • romil01romil01 Member Posts: 75
    I didn't realize there was a Volvo Finance now. With the MF and residual you just quoted, the payment should be about $490 on the car I am looking at, rather than $524. I was using a 52% residual for 15K miles per year. The dealer quoted me 52% for the residual.

    The reason the deal seems a bit off is just that paying $523/month for a $41K car seems like a lot when I can lease a MB E350 for $615/month and that's a $63K car.
  • bpvolvo8bpvolvo8 Member Posts: 7
    romil01:

    The MSRP is $37,395.
    The selling price is $32,777.51.
    The net cap cost is $33,736.59.
    The money factor is .00001.
    The residual is 52%.

    Again, 39 month lease with 15,000 miles per year.

    2013 S60 T5 FWD with premier plus and climate packages, and metallic paint.

    Good price?
  • romil01romil01 Member Posts: 75
    edited December 2012
    bpvolvo8,

    Yes that looks like a great deal to me. The initial quote I got on an S60 was about $3K off MSRP, so your $5K off MSRP is great. Of course my quote is from the single Volvo dealer in Las Vegas...I haven't played them off any of the numerous dealers in CA yet.

    What state did you get yours in?
  • vwgrrrlvwgrrrl Member Posts: 19
    edited January 2013
    woodentee, what state/area did you get these deals?
  • frizzo1856frizzo1856 Member Posts: 2
    edited January 2013
    Got a quote for sign and drive lease (including dest charge rolled in) as follows:

    Lease
    - 10k/39 month
    - no money down, taxes/dest charge rolled in, only need to pay dmv fees
    - 1st payment paid by Volvo up to $400
    - $406 per month

    Lease Details
    The MSRP: $36,095
    The selling price: $33,743
    The net cap cost: Same as selling price
    The money factor: .00001
    The residual: .56

    Any good?
  • hellojared2000hellojared2000 Member Posts: 2
    Went to the dealer today and got a quote as follows:

    S60 T5 FWD - Platinum Package
    MSRP just north of $40k
    Selling Price $37651
    Due at Signing Total $3000
    39 months at 10k per year for $389/month plus tax = about $415 total

    Is that a good deal? It struck me as a good deal as it is fully loaded. Not sure what the invoice on this car is. Anyone know?
  • hellojared2000hellojared2000 Member Posts: 2
    Forgot to mention residual after 39 months was 53% and money factor was 0.00001.
  • romil01romil01 Member Posts: 75
    You can find the invoice by configuring the car here on this website and it will tell you the MSRP, invoice, and average price paid.

    Seems like a good deal other than having to put $3K down. That's a lot of money for a lease. You should really strive for $0 down, which will increase the monthly payment, but is safer. If you total the car tomorrow, that $3K you put down evaporates into thin air.
  • psulion01psulion01 Member Posts: 14
    Wow I'm a bit shocked to see that money factor. So Volvo is essentially not charging any interest in their current lease programs? A 0.00001 MF equates to a 0.024% interest rate, right?

    Are the Volvo leases generally more favorable than say, VW or Acura?
  • chicago80chicago80 Member Posts: 7
    edited April 2013
    Hi Carman,

    Can you please tell me the lease numbers for a 2013 S60 T5 AWD in the Chicago area for 10,000/year; 24 months and 36 months? Top tier credit.

    Also, what incentives are currently available?

    Thanks!
  • 2011oddy2011oddy Member Posts: 19
    Man, you all should realize that BMW incentives give you cars like a 335i coupe with a 49K sticker price that includes some nice options runs about $385/mo on a 3 year 30K lease (no extra 3 months where the dealer gets 9 months of your DMV renewal!) with about 1400 drive off. Apples and oranges on your car but worth checking other makes and their incentives. You have to bargain for these deals (above ex is not offered up front, you contact the internet dept and ask for invoice or below; 1000 below in my case)
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi chicago80. Volvo Finance's April buy rate lease money factor and residual value for a 24-month lease of a 2013 S60 T5 AWD with 10,000 miles per year are .00001 and 69% for consumers who qualify for its top credit tier.

    The numbers for an otherwise identical 36-month lease are .00027 and 58%.

    There's $500 owner loyalty available on leases of this car, but no other cash that I'm aware of.

    Car_man
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  • carfan310carfan310 Member Posts: 17
    That is a great deal. Did you buy in California?
  • amoszamosz Member Posts: 38
    I think I am close to deciding between this and an infiniti g sedan (see a few left over g25s here locally, although it would be for purchase).

    Considering leasing a S60 T5 Premier or Premier AWD. I think I have a monthly calculation of ~$330/month. (AWD isn’t necessary, just a nice feature..)

    Tax is 8.25% on the cap cost of the car :( ….

    Assuming MSRP of 36945 (climate package) and sale price of $30792.

    I plugged in the numbers above (as close as possible) with a MF of 0.00001 and Residual of 65% for 24 months. I assume I would qualify for best rate.

    Not sure what other fees would be included (1st time leasing).

    Does what I say above sound about correct?

    Thank you
  • therastheras Member Posts: 95
    Dear Amosz,

    I am still on the notification list for this forum although we leased our S60 T5 last summer. I can't weigh in on the leasing data since I reviewed these figures so long ago, but after 10 months with the S60 and having owned a G, and driven my cousin's G25, I thought I'd offer my advice if you need help deciding between the cars. While the Infiniti is a very good vehicle, the S60 is a vastly superior car, with a much stronger engine AND better gas mileage.

    Good luck with your car shopping.
  • ranjohnranjohn Member Posts: 17
    Hey Carman:

    I'm considering a S60 T5 AWD Platinum +Blind spot + Climate = 42,245 MSRP. What's the approximated monthly payment, MF and RV on a 36/12 0 down, top credit lease?

    Thanks!!!
  • amoszamosz Member Posts: 38
    Thanks for the advice. I think we are decided on the S60 at a 24 month or 36 month lease. Attracted to the utility of the xc60 though, but don't want to get into a lease that expensive at this time.

    It will be a 1st lease for me, but I'll put money aside in 2-3 years to purchase a car we want.

    Major reservation is the lack of space if we start a family, which is 1 reason I think a lease works out better for us.

    My other hesitation is that I'll be about 2 hours from the closest volvo dealership.
  • therastheras Member Posts: 95
    Good luck amosz! We have a 6 year old who fits well in the S60, and the trunk is decently laid out. Sounds like you have a great idea with the short-term lease.

    I've only been back to the dealer for the first year maint, but ours is 2 minutes away!
  • eve4tmweve4tmw Member Posts: 4
    edited May 2013
    Hi CarMan,
    I am looking to lease an S60 T5 AWD, Premier Plus with Climate package, and was quoted a price of $36,813 (they say it is 750 below invoice).

    For a 2 year lease, 10k miles per year, they are quoting a money factor of .00026, residual 68%
    asking for $1500 down.
    Payments with monthly tax (8.5%) are $509.17

    Also charging a bank fee of $995 and Disposition fee of $350 (is that normal with Volvo finance?)

    I feel like it's high, and really could use advice on if this is a good deal, or if I should keep looking, and what monthly payments I should be asking for with this package.

    Thanks!!
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi ranjohn. The dealer invoice price of the $42,245 MSRP S60 T5 AWD that you described is $39,764. There's a $500 loyalty / conquest cash offer and probably around $500 dealer cash available on top of that, lowering the invoice price to around $38,764.

    According to my calculations, if you were to lease this car at $500 over invoice minus incentives through Volvo Finance right now for 36-months with 12,000 miles per year, your zero down, pre-tax monthly payment would be around $440 assuming that you qualify for its top credit tier.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi eve4tmw. You can verify if the selling price that you were quoted is really $750 under invoice by looking up this car's invoice price in the New Vehicle Pricing section of Edmunds.com.

    The disposition fee is normal, but the dealer is marking up Volvo Finance's normal $695 acquisition fee. Make sure that you take this mark-up into account when evaluating this deal.

    The money factor that you were quoted is too high as well. Volvo Finance's current buy rate lease money factor for a 24-month lease of this car is only .00001.

    Car_man
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  • kjboydkjboyd Member Posts: 7
    hello: appreciate all the info above: but can you tell me what the numbers are for 13 S60, T5, 24 and 36 month lease, 10,000 miles per year?

    residual? looks like .00001 for the 24 month.
    money factor?
  • gusbufgusbuf Member Posts: 74
    Hello Carman. I was wondering if you have the June MF and residual for an S60 T5 AWD Platinum package with 12k miles/yr for both 24 and 36 months. I am in the Buffalo, NY area, 14221. Thanks so much!
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi kjboyd. Volvo Finance's June buy rate lease money factor and residual value for a 24-month lease of a 2013 S60 T5 with 15,000 miles per year are .00001 and 67%.

    The numbers for an otherwise identical 36-month lease are .00001 and 54%.

    The question is what is Volvo Finance's low mileage adder for leases with 10,000 miles per year. My guess is 3%, but it's a relatively new bank so I'm not positive.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi gusbuf. Volvo Finance's June buy rate lease money factor and residual value for a 24-month lease of a 2013 S60 T5 AWD Platinum with 12,000 miles per year are .00001 and 65% for consumers who qualify for its top credit tier.

    The numbers for an otherwise identical 36-month lease are .00009 and 54%.

    Car_man
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  • tifightertifighter Member Posts: 3,582
    Pretty aggressive MF from Volvo.

    23 Civic Type-R / 22 MDX Type-S / 21 Tesla Y LR / 03 Montero Ltd

  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Yes, the money factors are very attractive.

    Car_man
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  • dadas1978dadas1978 Member Posts: 23
    Carman,

    Do you happen to have any info on Volvo Finance's July buy rate lease money factor and residual value for a 24-month lease of a 2013 S60 T5 AWD Premier Plus with 10,000 miles per year who qualify for top credit tier. I am being provided a MF of .00016 and being told the change in MF from last month to this month is due to Volvo's Summer Sales Event and the 3 months.

    Thanks
  • dkeane17dkeane17 Member Posts: 1
    The Edmunds True Value calculator is quoting a price of $36,240 for a T5 AWD with Premier, Climate, Metallic Paint, Blis and a spare. We are using Costco so we get A-plan pricing less $750. A-plan pricing according to the dealer is $37,400 (includes $895 destination). Then there are the $500 loyalty and $1,000 dealer incentive. Does this mean I should be asking for $37,400-750-500-1000=$34,633? We are being quoted: $35,150+895=$36,045 which includes all incentives. Seems we can do better,no?

    Also, what's the deal with the $500 advertising charge?
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    I certainly do dadas1978. Volvo Finance's July buy rate lease money factor and residual value for a 24-month lease of a 2013 S60 T6 AWD Premier Plus with 10,000 miles per year are .00001 and 67% for consumers who qualify for its top credit tier.

    Volvo is indeed waiving the first three monthly payments in July. There's a solid $2,500 dealer cash out there on the 2013 S60 T6 as well. Make sure to take that cash into account during your negotiations.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hello dkeane17. If I was in the market for this car right now, I personally would shoot for a selling price of $500 or so over the dealer invoice price that is listed here at Edmunds.com minus the $1,000 dealer cash, $500 loyalty and $750 Costco incentive.

    Car_man
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  • dadas1978dadas1978 Member Posts: 23
    Thanks carman. I am new to leasing and am being quoted $389 a month for 24 month lease 10k milage on a 2013 Volvo S60 AWD Premier Plus with an MSRP of $Price:$41,790. This is including the Costco A plan pricing and the $750 from that program. What other information would I need to provide you in order to evaluate if this is a fair lease. There is also no money down and about $1200 down to walk out the door that covers NJ tax,titles and fees.

    What other information would you need in order to assist me in evaluating if this is a good lease? I noticed the dealer was using a factor of .00016 and when questioned, was advised that the MF for July changed due to Volvo eating the first 3 months of payments.

    Any assitance would be much appreciated.
  • f4hondaphilef4hondaphile Member Posts: 1
    Carman:

    I'm doing my own lease calculations for a 2013 S60 T5 FWD w/no options . Pls accept my apologies if you've answered this before but earlier posts all seemed to be for S60s in different states of trim with more options, and the residual % seemed to differ based on trim level.

    Could you tell me the residual % for this car on a 24 month lease with either 10k or 12k miles a year, whichever you have the numbers for? And is the MF still .00001?

    As for annual miles, I'm new to leases and wasn't sure if going up or down on miles is accounted for by adjusting the residual % or by purchasing extra miles up front. If it's done through the residual % I'd like to know the % for 10k v. 12k v. 15k per year, again if you have that info. and its not too much trouble.

    Lastly, the advertised lease offer for a T5 FWD w/no options calls for $1,879 due at signing, any idea if some of that amount is meant to be down payment, or if it's all bank origination and disposition fees?

    Thank you very much!
  • little_blainelittle_blaine Member Posts: 3
    I signed a lease for a S60 today and I can share some information that may be useful. I had a very helpful and forthcoming salesperson (can I post name and dealership information?) who openly discussed incentives and lease parameters. For the S60 T5 FWD. 24 month lease with 10000 miles per year, money factor = 0.00001 (basically, 0, pennies per month) and residual is 67%. The money factor has NOT increased due to the other promotions. The car priced at invoice - $750 (costco) - $1000 (dealer cash) - $1800 (extra dealership-specific incentive). I was not a repeat volvo buyer so didn't get the extra $500 loyalty cash and didn't try pushing for it either.

    I was very skeptical of this deal as I was trying to price this out myself and best case I would come up with was $350/month, this ended up much lower, and included premier, climate, metallic paint, 17" alloy wheels, and urbane wood inlays. Overall a very sweet looking and driving car, I can't wait to pick it up later in the week.
  • austin_brownaustin_brown Member Posts: 7
    Hi f4hondaphile,

    I too, am looking into this lease special. Do you mind me asking how much you ended up putting as a down payment? It would be much appreciated.

    Thanks,
    Austin
  • tomc1227tomc1227 Member Posts: 20
    Hello Carman,

    Can you confirm the MF and residual for a 2013 S60 T6 R-Design for July? I believe the rates differ slightly between the T6 and T6 R-Design, hence the question.

    Thanks,

    Tom
  • goirish2goirish2 Member Posts: 16
    Car_Man-

    A quick question about Volvo's fees. I contacted a dealer today about leasing a S60 using the COSTCO Program. I had calculated my lease, based on $0 cap cost reduction, but the numbers I got were substantially higher than I anticipated. I had forgotten the Bank Acquisition fee and the dealer had added in a "Dealer Fee".

    The Acquisition fee was $995.00 This looks to be about $300 too high, based on my research. Is this the case?

    Am I correct in assuming that I should not pay a $695 Dealer fee.? I think I negotiated this away on my last few leases (Land Rover and VW)

    Dealership is in FL

    Thanks!
  • little_blainelittle_blaine Member Posts: 3
    austin_brown: I put $2000 down, which included NJ tax, registration etc. My monthly payment is $281, with the first three payments paid by volvo.
  • cnn90210cnn90210 Member Posts: 2
    edited July 2013
    I signed a similar deal yesterday.

    2013 S60 T5 AWD Premier with Climate Package & BLIS

    $38,245 MSRP
    $33,400 Selling price
    $35,222 CAP (includes Acq. Fee, NJ tax, tags & doc fees)

    24 month lease with 10,000 miles per year

    MF=.00001 Residual= 68%

    $3000 down $270/month

    Volvo picks up the first 3 payments.

    I'm not a Costco member so I missed out on the $750 but I'll make sure I join before I lease again to take advantage of it.
  • jmaxejmaxe Member Posts: 198
    Just got a quote on a S60 T5 from Roger Beasley in Georgetown, TX that seemed high.
    Ran the numbers myself and found I couldn't account for about $125. in monthly payment.
    Will call them on it today and see what's up.
    They say they really want to sell the car at month-end but I'm no fool.
  • cnn90210cnn90210 Member Posts: 2
    Did you get a break down on the numbers?
  • wstohnerwstohner Member Posts: 1
    Can anyone share with me what the residual is in July for a 15k/24 month lease on a 2013 S60 AWD premier plus? I signed a lease on one today with a residual of 64%, but I saw 65% listed on a different website. Just want to make sure my dealer was correct. Thanks in advance.
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