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If you choose to lease your XC60 through a bank other than Vvolvo Finance, it is eligible for a $5,000 cash incentive.
Car_man
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If you choose to lease your XC60 through a bank other than Volvo Finance, it is eligible for a $5,000 cash incentive.
Car_man
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What's the story behind the $5k deal, is this a Volvo incentive and is it on most any Volvo?
Chip
I am awaiting an XC60, and probably I will lease it when it arrives. I'm hoping the terms will actually improve somewhat by mid-May, but the current quote I have for a non-base model involves the $5k Volvo incentive, money factor of 0.0025 (6%), and residual calculated at 47% for a 36 month, 12000 miles/yr lease. Note this residual rate is somewhere between the 52% that the XC90 and its competitors rate, and the 41% that all other Volvos (and most relevant competitors) rate (based on LeaseGuide.com data).
There seem to be many fewer lenders participating in auto lease financing these days, the economy and car market are in turmoil, and the XC60 is so new that no "accepted" residual rate has been established. So I guess that one cannot really argue with these terms, and of course they play around with all these things to shape the deal a certain way. However, it is disappointing because the XC60's direct competitors rate at 52%. If they had used the 52% number and everything else stayed the same, it would reduce the lease payment by about $50-$65 per month depending on how loaded the car is.
If you were really confident that you could sell or trade in a 3-year old XC60 for 52% of the MSRP, and you have the cash to put up, then it looks like you could buy it outright and the depreciation cost would come out less than the financed lease payments, even with the $5k lease incentive. The lease basically protects you from uncertainty in that case.
Some dealers around NYC are quoting $489 month on $39,550 MSRP with 48% residual, 12K miles for 36 month lease with $2500 down. They arrive at the price by applying the $5K discount to the MSRP I'm told.
As a native Detroiter, I'm used to dealers welcoming A Plan purchasers knowing their comish is paid by Ford. Around here in NYC, dealers don't even know what A Plan and are rather hostile to me telling them.
> ...Around here in NYC, dealers don't even know what A Plan and are
> rather hostile to me telling them.
I never understand when I go shopping in NYC, why hostility seems to be the default sales approach. Is it really successful? Does this apply at car dealers as well?
"If I let you see dis vehicle, you gonna buy it or what?" Oh yes I'll take two sir!
I went to the Volvo dealership in Cary, NC to inquire about the Volvo XC60 and Ford X Plan pricing. You can indeed take advantage of the $5K incentive by using an outside lender on top of X Plan pricing. Rumor in Detroit right now is that GM is going to role out some hefty incentives for April so it will be interesting to see if Ford follows suit. On the XC60 you almost have to get AZ plan pricing in order to make the overpriced XC60 affordable.
I am going to revisit in a couple months once dealer inventories ramp up to see if I can squeeze an additional $1K off the price.
1) Is the $5K cash incentive regional or nationwide?
2) Then how does the $5K cash incentive work?
3)I am looking at a 48 mth lease (33% residual) to keep the payments down but with the residual value would I be better off with a 36 mth lease?
4) How can I calculate the payments if I don't know the actual residual values?
2. At least in the NY area, there are no true base models. All models include the moonroof (which is supposed to free), the climate package ($1000) and most include metalic paint ($550 or so). That means the cheapest model on the lot is probably $39,500 after the delivery fee is included. The cap cost (ie the price from which the lease is calculated) is then reduced to $34,500. So they give you a $5k discount on a car that includes about $1500 to $2000 in options.
3. Can't answer that.
4. Leaseguide.com
Best of luck.
Do you think this $5,000 wil be around in May? A rep at the NY autoshow also told me that in addition to the 5K, they offer an ADDITIONAL $1,000 conquest cash for owners of Audi, BMW, Mercedes.
I am trying to lease a XC60 with an MSRP of 44,000, cold weather, nav, etc. 15,000 miles a year 36 months.
What type of discount can I expect off teh MSRP, before the incentives?
What should the monthy payment be, assuming I can get the car for 42500 minus the $6,000, so a selling price of 36500? Thanks!!!!
2- Conquest money is $1,000 if a person in the same household owns a Mercedes, BMW, Audi, Acura or Lexus. For instance, your wife is driving a Mercedes, then yes you do get the conquest money.
3- Panoromic sunroof is free of charge until further notice. Most if not all the cars in South Florida have panaromic roof.
4- Dpeck1, more than likely they will keep the $5,000. Without any additional money on the car lease would have been thru the roof.
5- Keep in mind that usually when a new car launches the residuals are set high. Volvo will introduce the 3.2 FWD version of the car though there is no specific date yet.
2. I was told last week that the dealerships should find out on 4//15when Volvo updates their incentives if it includes a loyal customer incentive of $1000 since so many people have been upset that there wasn't one.
3. Also, we could only get them to drop the MSRP by $1000 off our fully loaded model and they only did that after we said we were going to look at Lexus again. So we'll get $6000 off the MSRP.
4. We also found out that US Bank has a maximum they are willing to residual of $43,400, so while that actually lowers the residual value of the car, it doesn't affect the actual incentive amount they take off the MSRP. So, in the end if we decide to buy it, then we'd get it for a lower amount than if the full MSRP had been residualized.
5. My car just came in on the truck this afternoon. Picking it up Saturday! It's a real beauty! I bought a black sapphire body with black on black interior (which looks dark gray) with the stainless interior. Looks a LOT sharper than the blond wood and mixed color seats.
2- Volvo tweaked the XC90 lease program by releasing additional money($500). Everything stays the same on the XC60.
3- You got a fair price regardless of the economy. This is Volvo dealerships one and only chance to make some profitable deals if they can until the '11 S60.
4- You are right on the car being only residualized up to 43,200. So if the car is 45,000 the 2,000 dollar portion does not residualize and it pretty much becomes 2,000/39= around $50 increase on a 39 month lease. Pretty stupid. But it is not Volvo who sets the residuals.
5-I agree on the aluminium inlay being better looking than the wood. Have fun with the car!
Car_man
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Volvo's current lease program for the XC60 is only scheduled to run through the end of the month. If I had to make an educated guess though, I'd say that it will probably be around in some similar form through the end of the quarter.
Car_man
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Black (non metallic) with BLIS and PCC as only options MSRP about 39000
48 months, 15,000 miles per year
$539/month, only first month paid at signing
Residual value around 14100
It was through US Bank taking advantage of the $5000 incentive and X-Plan discount through my employer.
Any thoughts?
I'm looking to lease an XC60 and was able to confirm the available lease cash of $5000 and conquest offer of $1000. I'm told with US Bank tier 1 approval the money factor is .00222 and residual is 47% with 12,000 miles per year. Is this the same information you have? What are the rates and residuals for April through Volvo Financial?
Drove this car and it's great...will trade bmw for it. and that's sayin a lot.
Thanks
Options: Black sapphire paint, convenience, climate, BLIS, PCC, booster seats, panoramic roof, Dual DVDs, front bumper bar, rear skid plate.
MSRP: $46,140 (incl. $825 destination)
MRM (maximum residualized value): $43,000
Selling price: $42,152 (invoice price) - $5000 (incentive) = $37,152
Residual = 47%
MF = .00023
Term = 39 months / 15,000 miles
Michigan tax = 6%
Payment = $614.92
Drive off cost: ~$700 (1st payment, registration, etc.)
Bonus: The dealer presented us with a check for $505 to cover the final lease payment on my wife's existing GM vehicle. They wanted to make a sale and this was a pretty cool angle.
Excited to pick the car up next week.
Also, I was told that for MAY, the incentive program of $ 5,000 stays. I was not told about the extra $ 1k off if you cuurently drive a Lexus, Acura, Mercd., ect. But I would that offer too.
Even with $ 6000 off the price at invoice with the car loaded, you are talking around $ 600 a month with tax. Nothing down across ! except for inception.
This seems to me around the same monthly lease for a RX,and GLK. Even, the ML 350 is close with its own incentive.
Thanks.
What outside lender was used to get the .00023 MF? From what I understand the MF through US Bank is .00224. Nice deal with all the options you got.
Car_man
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Car_man
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Prices Paid: Buying & Leasing Experiences Forum
Car_man
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I am also in Michigan and looking for an XC60. What dealer did you use to purchase your XC60?
Thanks,
Terry
I want the climate, convenience, and multimedia pkgs with xenon . Do you or anyone think in the mid 500.00 a month on 36 month lease w/15k. with tax nothing down except inception, 1st month, MV, and bank fee. Do able ? I know the $ 5000 plus $ 1000 incentives are still available.
Also, did yours come with the wood or not ? or you prefer the all metal.
MSRP: $44,495.00
A-Plan Price: $42,125.00
Rebate: $5,000.00
Gross Cap Cost: $37,125.00
MF: 0.0024
Residual:. .46% for 36 month lease with 15,000 miles per year
Due at Signing:$1,478.59
Final Payment:$639.39
The lease is through US Bank and the dealership also offered me an extra $1000 for coming out of an Infiniti lease.
Thoughts?
Thanks in advance!
The rebate of $ 5k and $1k are misleading in that without them the car would be price out. Because of the low residual and high money factor. the payment is not far from a ML350, GLK, RX350, MDX. All these cars have a lot higher MSRP but high residual and lower money factor.
Thank You
Here are the numbers I have...
****I owe 3 payment on current XC90 Lease - Total $1605.00***
2010 XC60
Metallic paint, Climate Package, Convenience Package, BLIS, and Personal Car Communicator. MSRP $41,795
Term 36 mos
15000 miles per year
Residual 46%
Residual Value $19225.70
Rate factor 0.00250
Approx Int rate 6.0%
Payment $585.21/mo
Upfront fees
1st Payment 585.21
8% tax 1685.40
Origination fee 695.00
Cap reduct cash 0.00
Tax on Orig fee 55.60
DMW etc 190.50
Total fees 3211.70
Total fees less equity 4816.70
Loyalty credit (1000.00)
Net due at signing 3816.70
Thanks...Mike
:confuse:
Independent banks do not have the same incentive to provide artificially low interest rates or high residuals on vehicles. For the most part, the money factors that banks provide on vehicles are in line with the prevailing interest rates and the residual values that they provide are realistic estimates of vehicles' future values.
Car_man
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After much haggling and leaving the dealer they called and offered the same deal that we got with the BMW: $805 out of pocket and $460/month for 48 months. Instead of getting the Volvo we insteasd ended up buying out her BMW for $4k under the buyout but I wanted to share this since I didn't see anything about leasing the base model.
I got this quote from a dealer in Dallas. Please comment:
MSRP: $38,550.00
Sell Price: $29,950.00
LEASE : $399.00 per 39 Months with $4999 down including taxes,fees, first month... 12000 miles per year. 45% residual value, lease end value 17,347.50.
These numbers are horrible! 45% residual after 39 mos and 12K miles? For a luxury car impregnated with tons of safety features why do they have low resale?
Is it also true that for every $1,000 down, your payment goes up $50?
My guess is that the $29,950 is actually the "capitalized cost" after the down payment. Meaning, the selling price is $34,950. Even at that, I think it is still a good deal for T6, being so new to the market. However, because of the miserable residual, your monthly cost will be roughly $527 ($399 + $4,999/39).
If the $29,950 is in fact the selling price, then forget about the lease. I would get a decent loan and finance the purchase. The monthly payment on a $33,000 loan (assumed TTL) at 5% for 60 month is $623. For only $96 more a month than the lease payment, you will own the car free and clear in 5 years.
Just my 2 cents.
The dealer said the info I posted above was from US Bank, and for Volvo resids are 50-52%.
Yes, it looks like the $29K price is after all rebates w/ the down payment, I guess including the $5K(?) incentive for leasing with a non-Volvo Finance company.
Thanks for your help.
MSRP: $38,550.00
Sell Price: $29,950.00
Right there I just see that the car is going to have a [non-permissible content removed] residual
New to this forum...Hoping to get some feedback since you all seem far more knowledgeable than me!!!
We are looking to lease a 2010 3.2 XC 60 w/premium, climate, and convenience (+booster seats) packages. Have been quoted by dealer in northern NJ $3800 down and $525/month for 48 months. For a similarly equipped T6 XC60, we have been quoted $3980 down and $560/month for 48 months. Can you all tell me if this is a good deal?? Car shopping is not fun!
THANK YOU!!!