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Volvo XC70 Lease Questions

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  • cheyjeycheyjey Posts: 6
    Can anyone out there verify that the above .00001 is the actual lease factor being offered by Volvo right now?
  • topcat02topcat02 Posts: 3
    I will probably drive 39, 000 to 40,000 miles in 3 yrs, so you are right, maybe it would be better to pay the 0.20 /mile at the end of the lease. But I do want the 36mos lease. I don't know if I can do much better on the money factor that I was quoted. Are you sure that that money factor is 0.00100 and do you think that would also apply to a 36 mos lease?
  • wrj1wrj1 Posts: 9
    As concerns mileage, perhaps you ought to go with 12,000/year vs 15?

    When I questioned the accuracy of the .00001 money factor for a 24 month lease, my Volvo dealer (No. CA) sent me an email confirming it was true. (It was .00027 in March, btw). The folks at Cartelligent also confirmed. They said Volvo tended to have aggressive financing. I doubt, however, that 2% would also apply to a 36 month lease. The money factor is not something you can negotiate; it is what it is, and is dictated by the financial institution doing the financing. You can try to get a better rate than the manufacturer's through a 3d party, as you did. You might wish to inquire as to how Volvo's rate compares to be sure you are getting the best rate.
  • chalfchalf Posts: 2
    I leased my first car so I don't know the deal on regular maintenance. My first was free and the second regular scheduled maintenance cost a bundle. Is there any reason I need to go back to the dealer for maintenance? What do you experienced lessees recommend? Thanks
  • wilks3wilks3 Posts: 2
    has anyone leased through the overseas delivery program? I am getting a great price $ 35,110 for a msrp $ 43,060 XC70 but the lease money factor is based on a 6.9% rate through Volvo Finance. Any way to get a better rate?
  • topcat02topcat02 Posts: 3
    I want to buy back my volvo XC70 (2005) with 37K miles from volvo finance.
    Does anyone know what book value best approximates what my offer should be?
    Should I use something close to the "trade in value", :private party value" or the suggested retail price"?
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi chalf. You definitely do not have to go to a Volvo dealer to have maintenance performed on your leased XC70. I'll take that statement one step further and add that you really don't even have to perform any maintenance on leased vehicles other than change the oil and perhaps rotate the tires to protect them from excess wear. Doing anything above and beyond that is a waste of money. If you decide to go to an independent repair shop, Jiffy Lube, etc... to have your vehicle's oil changed, just make sure to hang on to the receipt just in case.

    Car_man
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    Prices Paid: Buying & Leasing Experiences Forum
  • cheyjeycheyjey Posts: 6
    Hi,

    After spending some time here and shopping, I just leased an XC70 so I thought I would put the details here for everyone. This does include the 1000.00 Volvo credit for existing Volvo owners:
    MSRP - 44,325
    Agreed Upon Selling Price - 37212
    Adjusted Cap Cost - 36518
    Term - 24 mos
    Miles - 12K/yr
    Drive Offs - 990
    Monthly Payment - 420+ tax
    Residual: 28058.31

    I don't have the money factor but I asked and it is very close to 1% when converted to an interest rate.
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Congratulations on getting your new XC70, cheyjey. Thanks for giving back and taking the time to share the details of your lease with everyone. Make sure to stop by the Dealer Ratings & Reviews section of Edmunds.com to share your thoughts on your recent dealer experience as well. Enjoy your new ride :) .

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • novalaurennovalauren Posts: 16
    I am currently negotiating a lease deal...36 months...12k miles per year...and looking for the money factor....thanks!
  • sweeney4sweeney4 Posts: 17
    I got offered the following,
    Demo model 5,000 miles
    msrp 44,005
    residual 24,882
    selling price 31,000
    money factor .00208
    379 per month
    $600 out of pocket.
  • kyfdxkyfdx Posts: 27,896
    What is the mileage allowance? Looks pretty darn good!

    MODERATOR
    Prices Paid, Lease Questions, SUVs

  • sweeney4sweeney4 Posts: 17
    12k per year, in addition I also get free scheduled maint. for 2 years and brake pads if needed.
  • kyfdxkyfdx Posts: 27,896
    That's a great deal..

    Now.. if I could just convince the wife that it's an SUV and not a wagon, we'd be in business!!

    MODERATOR
    Prices Paid, Lease Questions, SUVs

  • qbrozenqbrozen Posts: 17,202
    Damn. That is good. Even 15k would probably still be right around $400/mo.

    '13 Stang GT; '86 Benz 300E; '98 Volvo S70; '12 Leaf; '14 Town&Country

  • dc_davedc_dave Posts: 51
    Please tell me what you think, how much better can I do?

    36 months, 15K per year

    2008 Volvo XC70 3.2 AWD in Barents Blue with Sand stone leather, Premium package, Climate package, Convinience package, Blind spot information system, Boosters. M.S.R.P. $ 44250, lease sale price is $ 32636, 36 month lease with 15K miles per year is $ 541 per month with 0 down, just taxes and tags ( $ 1158). Money factor is $ 0.00233, residual 0.42 ( $18585).

    2008 Volvo V70 3.2 in Barents Blue with Sand stone leather, Premium package, Climate package, Convinience package, Bi-xenon, 17" wheels, Personal car communicator, Boosters. M.S.R.P. $ 40445, lease sale price is $ 31985, 36 month lease with 15K miles per year is $ 574 per month with 0 down, just taxes and tags ( $ 1158). Money factor is $ 0.00233, residual 0.42 ( $16986).

    Dave in VA
  • cheyjeycheyjey Posts: 6
    I think you can get a better deal than that. I have the same color combo car that I bought last month with the following terms:
    After spending some time here and shopping, I just leased an XC70 so I thought I would put the details here for everyone. This does include the 1000.00 Volvo credit for existing Volvo owners:
    MSRP - 44,325
    Agreed Upon Selling Price - 37212
    Adjusted Cap Cost - 36518
    Term - 24 mos
    Miles - 12K/yr
    Drive Offs - 990
    Monthly Payment - 420+ tax
    Residual: 28058.31

    My total down was only drive offs as well and was less than yours above. Also my payment is 420/mo and that is a 24 month lease!

    What I learned while there is that you need to choose the lease promo that they are doing with each car. I was told that for the XC or V the sweet spot is 2 year, and for the SUV it is 3 year.
  • dg170dg170 Posts: 3
    Would love feedback on the following:
    2008 XC 70 with Premium and Climate package
    MSRP 44,535
    Term 27 months
    Cap Cost 32,296.61
    Miles 10k
    Residual 24,939.60
    Monthly: 499.87
    No money down

    Thanks!
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Here you go, novalauren. You never mentioned whether you are interested in the 2008 or the 2009 model, so for now I will assume that you want an '08. Volvo Finance's current buy rate lease money factor and residual value for a 36 month lease of a base '08 XC70 with 12,000 miles per year are .00084 and 48%, respectively.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • My husband just negotiated a lease deal for a 2008 XC70. I have been searching this site trying to find out if what he got was a deal or not, but the cars listed here are more expensive and it's hard to tell. I don't have all the figures that I see other people posting, but I do hope you will be able to give me some feedback with the info that I do have. I appreciate any help. By the way, we live in Northern New Jersey.

    The car is a New 2008 XC70 base model - black. No bells or whistles, just standard equip.
    MSRP - I believe was $37,000 (or just slightly over)
    Term - 36 months
    Miles - 12K
    Money Down - $1,800 (INCLUDES tax, title, reg., first month payment)
    Monthly Payment - $385
  • I am no expert and really here to learn. However, I was doing some negotiations with a dealer regarding a

    2008 XC70 with the premium and convenience packages and the price was roughly around $33-34,000 (this is in PA near Philly). With the 2009s coming in and these cars not being great with gas,etc, I think $37,000 for the base with nothing extra is a little too much but I leave it to the experts to give the correct answer.
  • Thanks for the reply. I appreciate any feedback. The $37,000 is the sticker price. I think the sale price was around $26,000-$27,000. I wasn't totally sure of the price that is why I didn't put it in. I just want to know if anyone had any thoughts to the monthly lease price on a base car. It seems that people are paying far more, but that is also for a more expensive car, so it's hard to tell if it's a good deal or not.

    Some of these dealers (in NJ) seem to think they are sitting on a pot of gold and are willing to turn away offers. We've walked out of a few places and they were willing to let us go. At least, that is what I've experienced over the past month or so.

    Are you leasing or buying? Do you care to share your negotiations thus far?
  • I like to lease because you never know how things will change in a few years (without a dog, I may not need a stationwagon).

    I generally do all of my negotiating via email. I decide what options I want, look into the inventory of the dealers (online), and then ask for best price they can offer on a vehicle. In the past, I would then go in and negotiate for a lease or buy (never telling them ahead of time). I am now getting too impatient, I tell them I want to lease give, them VIN of the vehicle in their lot that I am interested in, and ask for all of the specifics -- monthly lease payment with no money down, money factor (interest rate if you multiply by 20), any drive away fees, and the residual.

    If they respond with a nice offer, I go in and we are done, in not, on to the next dealer. The important thing is not to go in until you have something concerete in writing, dont waste your time at dealerships. You can use Cars.com or Edmunds to get quotes multiple quotes.

    Good luck.

    PS- I already have a 2007 and was just poking my nose to see if I could get a good deal with a 2008. Didnt get exactly what I wanted so I'll wait until the lease runs out and get a 2010 or 2009 (with the better engine :))
  • I just received a quote on a base xc 70 with the x-plan for a 36 month 15K lease 787 due on delivery with a monthly of $407. Is this a goo deal I am in Ohio
  • So let me begin by saying that I am no expert. Just a consumer.

    I just had my 2007 XC70 in for a service appointment and got a 2008 XC70 as a loaner. Eventhough the 2008 has more horsepower (235) on paper, I found it underpowered and sluggish compared to the 2007 (208 hp). I also wasn't crazy about the look inside. If I decide to turn in my car and lease a new one, I would get one of the 2009's with the V6 3.0 l engine that has 281 hp.

    That being said, if you really want to get the car and its the 2008, you should at least get the premium package and climate package (possibly something else thrown in) and convenience package at that price. Its a bit of tough negotiating but unfortunately times are tough and 2008 Volvo XC70's are not flying off the stores.

    Check the dealer inventory and see how many they have and what comes with those cars, then choose one and negotiate on that one (preferrably using email). You live in Ohio but times are tough, I bet a dealer a few hours away from you would still love to sell you a car. Don't let yourself be limited by the local dealer, you can always service it there. Also, the local dealer might try to not lose your business and therefore may give a better deal.

    Also, the X-plan (I also tried it), VIP, etc. are all marketing gimmicks. Just email them and say I dont want to know what plan you are using, etc. Just give me your best price.

    One last thing, unless you havev your heart set on the XC70, also checkout the passat wagon, Subaru Outback, and I really like Mazda CX-9s. All three have a better ride that the new volvos.

    Sorry for the long answer. Again, I am just a consumer not a professional and these are just my opinions.
  • qbrozenqbrozen Posts: 17,202
    Eventhough the 2008 has more horsepower (235) on paper, I found it underpowered and sluggish compared to the 2007 (208 hp).

    I'm not surprised.
    Its 400 lbs heavier and has the same torque as yours. And your torque peaks 1700 rpms sooner, to boot. OH, AND the new one gets worse gas mileage!
    So much for advancing the model.

    '13 Stang GT; '86 Benz 300E; '98 Volvo S70; '12 Leaf; '14 Town&Country

  • Yeah, even the sales guy was upset. He said they all agreed that it was underpowered and that Volvo wasn't making it easy for them to sell new Volvos (not too many deals).

    I'll probably keep mine or weight until the 2009's go on sale (with the better power). But still, I dont really like the look of the new XC70's.

    I also heard that SAAB is completely redesigning their cars, maybe their new wagon (due in 2009 or 2010) will be nice. Who knows.
  • qbrozenqbrozen Posts: 17,202
    Personally, I don't think more power is the answer. All manufacturers need to improve their fleet's fuel mileage. The only way to do this and not produce slow pigs is to reduce weight. So THAT'S what volvo needs to focus on. Their cars (like many manufacturers) have just continued to get heavier over the years.

    '13 Stang GT; '86 Benz 300E; '98 Volvo S70; '12 Leaf; '14 Town&Country

  • Agree. All cars can be made more fuel efficient. I also dont see why there is a concerted effort to make ALL makes hybrids (hybrid tech has been around for a long time).
  • anon3anon3 Posts: 147
    "Eventhough the 2008 has more horsepower (235) on paper, I found it underpowered and sluggish compared to the 2007 (208 hp)."

    My wife loves the 2008 XC70 for the ride quality, but it is an extremely inefficient vehicle. We're lucky to get 20 mpg. The engine is harsh. The transmission is unresponsive. The vehicle is heavy and so slow that it's almost dangerous to merge into fast moving highway traffic.

    Contrast that with my 2008 BMW 535xi wagon with 300hp six cylinder engine that goes 0 - 60 in 5.4 seconds and averages 26 mpg on the highway.

    Volvo is no BMW, but surely they can invest in an efficient engine and shave a couple hundred pounds off the vehicle. The XC70 is a safe, comfortable pig of a vehicle.

    Several manufacturers, including Volvo, are turning to twin sequential turbo chargers to improve performance efficiently. Unfortunately, we'll pay more than $2,000 extra for a 2009 turbo XC70 T6 just to get barely adequate performance and mediocre fuel efficiency.
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