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Edmunds mentions that the current cash incentive is $4000 on all trims, what do you think?
If you are a Costco member, they have a special now through 7/7 for buying or leasing 2008 S80. It is $500 off invoice (you get all dealer rebates as well) and after you have the car you get $500 cash card you can spend at Costco. It is definitely a worthwhile investment to be a Costco member for this.
I am going to the dealer tomorrow to talk with them about this. Costco assigned you a dealer with certain salesmen to talk to.
Good luck to all.
New 2008 Volvo s80 t6 AWD. Climate package, metallic paint
MSRP - 44000
Cost 33500
Residual: about 20000
Money factor 0.0019
Tax - 5%
36 month, 15k miles/year
Montly payment: $480
About $1000 due at signing + first month lease payment
S80 T6 w/ Sport, Climate, and PCC
MSRP: 46,750 + 2195 in residualized package discounts = 48,945
Selling Price: 34,780
Residual: 47%
MF: .00163
Rolled in doc fee, NJ tax (which is on both the interest and the depreciation now), title/reg, tire fee for no money down
$492 x 36 months
I have a selling price of 30,670 (base S80) after all discounts and with 2000 down the monthly payments are 509 for 36 months.
The manager tells me that he is going with a bank which will not charge me taxes and with residual of 43%,MF 0.003.
I though the monthly payment is high.
I live in Texas, and the manager is going through Chase. Volvo now is doing 4250 rebate and additional 3000 if you lease through third party (this is what the manager told me). This is all great as he is selling the car at invoive minus 7250. But the monthly payment is high given the bad residual and MF as you pointed.
What is a good monthly payment on this car?
Do you suggest a 3rd party bank I can deal with ?
Appreciate your help.
Cash Down 0 2,700.00 3,700.00
24 Months 490 370 325
36 Months 510 430 396
48 Months 490 425 399
12,000 miles/yr
MSRP: 37,900
Final price: 30,150
What do you guys think?
Car_man
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Prices Paid: Buying & Leasing Experiences Forum
Car_man
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Prices Paid: Buying & Leasing Experiences Forum
Car_man
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Prices Paid: Buying & Leasing Experiences Forum
'08 S80 3.2
MSRP $45,710.00
LEV% 46%
Lease End Value $21,026.00
Term: 36 months, 12k year
Money Factor: .00209
Total sales tax: $1,547.28
Initial Cap Cost: $35,012.00
Adjusted Cap Cost $35,012.00
Base monthly rental: $505.60
Total annual fees: $300.75
Total Initial Fees: $840.00
amount due at start $1,689.33
Total monthly payment $548.58
i'm fuzzy about what the heck an annual fee and inital fees are. i'm probably supposed to be fuzzy about them!
MSRP 39450
Price 34150
Term 24 months
Miles/year 15000
Residual 24065 (61%)
Initial Payment 2995 (includes tax, title, acq fee, doc fee, and first month's payment)
Monthly payment 419
Now, here's the interesting part. The difference between the purchase price and the residual value is 10085. Divide this by 24 and you get 420, which is essentially the same as the payment. So, based upon these numbers, the money factor/interest rate is zero. The saleman is a little fuzzy on getting me info on how the monthly payment is calculated. I know the purchase price of the car is somewhat high, and perhaps the residual is low, but you can't have your cake and eat it to. I guess the bottom line on a lease is the payment, not how they arrived at it. Any thoughts?
2008 S80
Metallic Paint; no other options
MSRP $40,020
Res. Value 44%
Lease Term 39 months/12K per year mileage
Penalty $0.20
Lease End Value $17,608
Intial Cap Cost $29,153
Cash Cap Reduction $380
Adj. Cap Cost $28,773
Lease Factor .00207
Base Monthly Pmt $382.27
Tax $26.76
Total Monthly Pmt $409.03
Out of Pocket
Sales Tax $1,070
Lic & Reg $150
VCF (?? - not sure what this is?) $695
Fees $73.16
Total Due at Start $1,733
1st Pmt Date July 25
troy, michigan
purchase price: $44,000
lease length: 24 months
color: titanium gray metallic
down payment: $3600
total monthly payment: $398.88
miles per year: 12,000 miles
good deal? or no no?
California Bay Area Dealer
MSRP: $39,450
Base Cap Cost: $34,750
Term: 24 months
Annual Mileage: 15,000
Residual: 61%
Cash Cap Reduction: $2,554.41
Total Cash Down (includes all fees + first payment + all taxes): $3,529.72
23 Monthly payments of: $427.55 + tax
Are the numbers reasonable for a layman like me?
There is a similar deal here in the bayarea with the $379 monthly payment, but it's with a $2,973 down payment + tax and fees, 24 months term & 21,000 miles.
My deal gives me 30,000 miles (9,000 miles more), & my down payment of about $3,530 includes a hefty 8.25% tax, & about $300 of registration fees!
By the way advertised deals & what you walk out with are not always identical ... if one variable changes (like mileage) the residual & money factor change. But this Atlanta deal does sound very attractive!
S80 3.2 heated seats(he added them based on a convoluted rebate)
3 yr/45Kmiles
RV=43% or $17,651
mf=.0019
MSRP=41,050 (?)
invoice=36,383 less:
3250 lease discount
3250 lease bonus
750 heated seats rebate
1000 s60 to s80 lease loyalty
500 COSTCO discount (this may have expired-I am checking)
but dealer came up with $29,280 sell price
and $412. mo pymt plus 6%tax= 436
What do you think?(?new math?) I feel like I am getting the run around... :confuse: :confuse:
Based on your knowledge of Volvo deals out there for July, three questions:
1) What should I expect in terms of RV,MF.
2) If i lease then want to buy out the lease before it ends, how is the purchase price calculated?Dealer suggested I could take advantage of the leasing rebates then buy the car after 2-3 months to get the lower price (implying the buyout is based on sell price not MSRP)
3) Why is MSRP used to calculate depreciation-and not the sell price, which we all struggle to negotiate!
To me, it doesn't make sense to buy out a lease before its scheduled end. Doing so will probably end up costing you more money than if you had waited until the scheduled end of your lease and compared your car's purchase price to what you would have to pay for a similar car on the open market.
The interest portion of your car's lease payment is based upon the selling price that you negotiate, but the depreciation portion is based upon a percentage of its full MSRP. Banks base their residual values upon cars' MSRPs because theoretically all S80s are worth the same amount at the end of three years, regardless of what selling price the lessee negotiated.
Car_man
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Car_man
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Prices Paid: Buying & Leasing Experiences Forum
2008 S80 T6 AWD
Metallic paint
Sport package
Climate package
PCC
Sat Prep
Blind Spot
$0 down (just tags)
$491/month plus tax
36 months
12,000 miles/year
It seems to be too good a deal to pass up!
Since the car was a demo, it is eligible for the new car program, meaning, I can still lease it. After reading your last comment ("money factor and residual value would be .00118 and 48%, respectively"), I feel like I need to negotiate those terms more aggressively. I had already planned on questioning the dealership about them, but if you say that I should be getting better terms, I'll make sure I don't sign before something changes. Then again, you may tell me that because the car is used, then my terms are spot-on. Either way, I would think that the residual factor should essentially be the same, new or used.
The lease terms I have been given so far are as follows:
MSRP: $39,950
Capitalized Cost: $29,000
Bank Fee: $995
Total Cap: $29,995
Cap Reduction: $3,025.27
Net Cap: $26,969.73
Residual: $17,267.15 (43.22%)
Money Rate: .00209
MONTHLY PAYMENT: $361.98 (+28.05 tax = $390.03)
So basically, aside from the money rate and residual issue, is there anything else that glares out at you that I should address? From some of the discounts that people listed above, I feel like they should be giving me more discounts (although the car is used, so my initial capitalized cost is significantly lower).
Thanks for your help!
MSRP $57,000 (everything except Nav & Collision Package)
Cap Cost $39,654 (selling price)
Residual $24,500
36 month lease / 12,000 miles per year
$2,100 down
$527/month
Total cost of use: $21,100/36 mos.
Anyone do better than this?
Cap Cost $39,654 (selling price)
Damn!!
For now I can quickly provide you with the info that you're looking for. Volvo Finance's current buy rate lease money factor and residual value for a 36 month lease of a base 2009 XC70 3.2 with 15,000 miles per year are .00169 and 51%, respectively. Volvo is not providing lease support on any other trim levels of this vehicle.
Car_man
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Prices Paid: Buying & Leasing Experiences Forum
Car_man
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Prices Paid: Buying & Leasing Experiences Forum
I got 2008 S80 3.2, Gold metallic paint, PCC, climate and sport package.
I took 48 month lease given the warranty covers the whole 4 years and I take good care of my cars. I also was not sure if the S80 will have such discounts in 3 years.
I do not remember the exact numbers but MSRP was around $45500, selling price around $33500 (invoice minus $500 Costco discount minus $4250). MF was around 0.00225
Downpayment was $1500, monthly with tax: $484.
Done through Chase bank ($1000 allowance for wear and tear).
It is probably not the best deal possible but they gave me an extra $500 on my trade in than anybody else (including Carmax) and Costco mailed me $500 cash card. So you take that extra $1000 and I think it becomes a great deal.
By the way, the car is just amazing. NO problems so far. Sport package with cooled seats is very nice here in Texas. The value for the money can not be matched by anything else in the market. The car rides like a charm and feels very luxurious inside. I will get XC90 for my wife in 12/08 when our Pilot lease is up.
Car_man
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The numbers for an otherwise identical lease of an '09 model are .00234 and 51%.
For leases through independent banks Volvo is providing $9,000 on the '08 S80 3.2 2WD and $6,500 on the '09 model.
Car_man
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I am not sure the $9000 and $6500 continued past Oct 31 but I will check.
I am looking to lease (in Miami/Ft. Lauderdale) a 2009 S80 T6 with metallic paint (req'd), the executive package, and park assist front and rear. MSRP, according to my numbers, should be $46390. I am looking for a 12k mi. lease for 36 mo.'s. What's the MF? What's the residual?
Also, I know Volvo is offering $2k for current Volvo owners, and a $750 holiday gift card which I've been told can also be applied to the deal. Any other incentives that you are aware of?
Thanks in advance!
I would like to clear something... Costco gets you Invoice - [All the incentinves+$1000]... Customer also gets a $500 gift card to be used at the Costco stores. If you have any further questions send me an email, I would be able to help you since I am very familiar with Volvo products/promotions.
One question on the Costco program: Is the S80 included or not ?
Also, question to Serdar or Carman: A local dealership is running the following ad:
'09 S80 (Base Car) lease with a total down of $2,750 ($2k out of pocket plus the $750 gift card from Volvo) .... 24 months / 12k miles ... payment of $399 plus tax.
How do the numbers look to you? My guess is they could even go lower or get more of a car for same price as dealers try to squeak in the last sales for the year. Your thoughts ?
Unfortunately, all they have available at the moment are T6's with oyster gray exterior and black interior, a color scheme I am not interested in. Ordering the car I want is always an option, but the current incentives don't include vehicles delivered outside of the incentive dates. However, if all you want is a 3.2, there should be plenty of those to choose from.
how do you compare this vehicle to it's competitor's ? I have really just begun looking at this car and have never owner a Volvo before. It appears to be a value compared to other mid to large sized luxury sedans.
I think the Edmunds review on the S80 is right on the money. As far as quality and reliability, you may also want to check out similar blogs that deal with that. I have never owned an S80 before, so I cannot speak from experience except to say that my wife has been driving an XC90 for almost 4 years now and we have both been very pleased with that vehicle. We've never had an issue with our Volvo, and we love almost everything about it.
Having said that, I recently decided to take the plunge and lease a 2009 T6 with the works. I can't wait until I take possession of the car next week.