2016 Volvo S60 Lease Questions

DIMNJ

Michaell,

Is there a known deduction and/or lease cash[available to dealers] for factory loaner lease?
I received an offer on a 2016 S60 AWD Premier, MSRP $40965, with 6K miles on it, with the same cash due at signing, $2200 and $289/mo for 36mo/12K mi lease and am trying to calculate it backwards, to evaluate the deal prior to going to the dealer tomorrow.
Any help is greatly appreciated, as usually.

Michaell

disla said:

Michaell,

Is there a known deduction and/or lease cash[available to dealers] for factory loaner lease?
I received an offer on a 2016 S60 AWD Premier, MSRP $40965, with 6K miles on it, with the same cash due at signing, $2200 and $289/mo for 36mo/12K mi lease and am trying to calculate it backwards, to evaluate the deal prior to going to the dealer tomorrow.
Any help is greatly appreciated, as usually.

In general, loaner cars have the miles deducted from the residual at a fixed rate per mile. Don't know exactly what that is for Volvo, but assume .15-.25 per mile.

However, you should get a bigger discount from sticker, as well, to offset that. Otherwise, why go with a car with that many miles on it over a new car with 0 miles?

DIMNJ

Good morning, Michaell, 
I wholeheartedly agree.
The reason we are considering the factory loaner is due to the fact that it's equipped exactly as we need it to be and has beechwood interior that we like. There are just so few 2016 left and incentives on them are really good to be ignored.
We are going to this dealer in an hour and I will certainly apply your logic, thanks again!  

rossdm

Question for you folks actively shopping for an S60 lease. Given that Volvo is offering very generous lease incentives (in my location it is $4,600 lease cash + $2,650 Summer Sales Event + $500 Volvo Allowance), do you find dealers less willing to give much more of a discount off of MSRP other than what is already offered in incentives from Volvo?

For example, if I have an S60 at $42,000 MSRP, the $7,750 in incentives would bring it down to $34,250 as a potential cap cost. How much more is reasonable to expect a dealer to discount?

I realize it is up to the individual dealer and can vary greatly by dealer and region, but I am looking for some anecdotal evidence as to what people that are actively shopping now are seeing.

Thanks!

bwang94

New member here, would appreciate any feedback on the following quote I got today.
S60 Premier FWD, 39/10k. Zip 64116.
MSRP: $41,375
Negotiated Selling Price: $40,000
Proc/Doc Fees: $399
Acq Fees: $995
Lease Incentives: $6,650
Net Cap Cost: $34,744

Residual: $19,033 (46%)
Money Factor: .00050

Monthly Payment (inc. 8.1% sales tax): $465

Thanks!

kyfdx

bwang94 said:

New member here, would appreciate any feedback on the following quote I got today.
S60 Premier FWD, 39/10k. Zip 64116.
MSRP: $41,375
Negotiated Selling Price: $40,000
Proc/Doc Fees: $399
Acq Fees: $995
Lease Incentives: $6,650
Net Cap Cost: $34,744

Residual: $19,033 (46%)
Money Factor: .00050

Monthly Payment (inc. 8.1% sales tax): $465

Thanks!

46% residual is correct, but the base MF is .00001
Acquisition fee is also marked up from the $695 base.

I get $430/mo.+tax, which is right on your number.

However, if you take away the two markups, You get $396/mo.+tax, or about $428/mo.
That is the number I would want, at most.

rossdm

One frustrating thing I have found searching for an Inscription Premier - EVERY one in inventory at ALL Volvo dealers in Florida have the BLIS Package and the Convenience Package, neither of which I want. That's $1,675 more that I have to pay for that I don't want to.

Is this the same everywhere?

UPDATE: After further research, using Autotrader and removing the distance parameter, I searched for all the S60 T5 Inscriptions listed and sorted by price, lowest to highest, and the lowest MSRP anywhere I could find is $42,015.

According to Volvo's US website, an S60 E-Drive T5 Inscription Premier is based priced as such:

$38,900 for the car
$ 940 for the destination charge
$39,840 total

The 'Build your S60' configurator will let you build one as such. BUT - you cannot buy one anywhere in the US, apparently!

The lowest MSRP I could find - $42,015 - is the base car + the BLIS package + the Convenience package + heated seats. I can't find ANY S60 Inscription Premier in the US without these options! Why would I want heated seats in South Florida????

Is this typical for Volvo or for luxury brands in general (I'm a Honda guy)? I know that most cars come with at least SOME additional options, but it doesn't seem right to say that the car starts at $39,840 and yet you can't buy one configured that way. If they are going to include those 3 options on EVERY car, they should say on their US website that the car starts at an MSRP of $42,015 and these 3 "options" are standard equipment.

Michaell

rossdm said:

One frustrating thing I have found searching for an Inscription Premier - EVERY one in inventory at ALL Volvo dealers in Florida have the BLIS Package and the Convenience Package, neither of which I want. That's $1,675 more that I have to pay for that I don't want to.

Is this the same everywhere?

UPDATE: After further research, using Autotrader and removing the distance parameter, I searched for all the S60 T5 Inscriptions listed and sorted by price, lowest to highest, and the lowest MSRP anywhere I could find is $42,015.

According to Volvo's US website, an S60 E-Drive T5 Inscription Premier is based priced as such:

$38,900 for the car
$ 940 for the destination charge
$39,840 total

The 'Build your S60' configurator will let you build one as such. BUT - you cannot buy one anywhere in the US, apparently!

The lowest MSRP I could find - $42,015 - is the base car + the BLIS package + the Convenience package + heated seats. I can't find ANY S60 Inscription Premier in the US without these options! Why would I want heated seats in South Florida????

Is this typical for Volvo or for luxury brands in general (I'm a Honda guy)? I know that most cars come with at least SOME additional options, but it doesn't seem right to say that the car starts at $39,840 and yet you can't buy one configured that way. If they are going to include those 3 options on EVERY car, they should say on their US website that the car starts at an MSRP of $42,015 and these 3 "options" are standard equipment.

Have you considered ordering exactly what you want and doing European Delivery? Free airfare to Sweden and a night in the hotel before taking delivery. Temporary registration and you can drop the car off at your choice of European ports for shipment to the US.

rossdm

Michaell said:

rossdm said:

One frustrating thing I have found searching for an Inscription Premier - EVERY one in inventory at ALL Volvo dealers in Florida have the BLIS Package and the Convenience Package, neither of which I want. That's $1,675 more that I have to pay for that I don't want to.

Is this the same everywhere?

UPDATE: After further research, using Autotrader and removing the distance parameter, I searched for all the S60 T5 Inscriptions listed and sorted by price, lowest to highest, and the lowest MSRP anywhere I could find is $42,015.

According to Volvo's US website, an S60 E-Drive T5 Inscription Premier is based priced as such:

$38,900 for the car
$ 940 for the destination charge
$39,840 total

The 'Build your S60' configurator will let you build one as such. BUT - you cannot buy one anywhere in the US, apparently!

The lowest MSRP I could find - $42,015 - is the base car + the BLIS package + the Convenience package + heated seats. I can't find ANY S60 Inscription Premier in the US without these options! Why would I want heated seats in South Florida????

Is this typical for Volvo or for luxury brands in general (I'm a Honda guy)? I know that most cars come with at least SOME additional options, but it doesn't seem right to say that the car starts at $39,840 and yet you can't buy one configured that way. If they are going to include those 3 options on EVERY car, they should say on their US website that the car starts at an MSRP of $42,015 and these 3 "options" are standard equipment.

Have you considered ordering exactly what you want and doing European Delivery? Free airfare to Sweden and a night in the hotel before taking delivery. Temporary registration and you can drop the car off at your choice of European ports for shipment to the US.

By Jove, that sounds like a splendid idea! I may just have to do that...

I e-mailed Volvo and they said you can't build and order a 2016 S60 anymore, but you should be able to order the 2017 model soon. I'm just surprised the 2016 models on the dealers' lots are so homogeneous.

ursus

rossdm said:

Question for you folks actively shopping for an S60 lease. Given that Volvo is offering very generous lease incentives (in my location it is $4,600 lease cash + $2,650 Summer Sales Event + $500 Volvo Allowance), do you find dealers less willing to give much more of a discount off of MSRP other than what is already offered in incentives from Volvo?

For example, if I have an S60 at $42,000 MSRP, the $7,750 in incentives would bring it down to $34,250 as a potential cap cost. How much more is reasonable to expect a dealer to discount?

I realize it is up to the individual dealer and can vary greatly by dealer and region, but I am looking for some anecdotal evidence as to what people that are actively shopping now are seeing.

Thanks!

Shoot for at least $3,000 off MSRP (about $1,000 under invoice) BEFORE all lease incentives.

crich19

I'm new to car buying/leasing. I'm considering the 2017 Subaru Legacy Premium and a 2016 Volvo S60 Inscription. MSRP is 32k Subaru and 42k Volvo. With discounts the two cars come in at 29k (a lot more bargaining/discounts for Volvo since 2016). Any MSRP discounts on Subaru not including incentives/offers?

At 36/12 residual is 61%Subaru and 47% Volvo with a money factor of .004 Subaru and .00001 Volvo. Sales tax is 7.5% and out the door costs are about 1.3k for Volvo (guessing 1k for Subaru, unsure). I'm putting down 1.5k. I'm getting the lease total about $305/mo each (please correct if wrong). Dealers are pricing at $350/mo. I know there might be some biased being on a Volvo thread, but any input on the better option would be greatly appreciated. Thanks very much!

kyfdx

crich19 said:

I'm new to car buying/leasing. I'm considering the 2017 Subaru Legacy Premium and a 2016 Volvo S60 Inscription. MSRP is 32k Subaru and 42k Volvo. With discounts the two cars come in at 29k (a lot more bargaining/discounts for Volvo since 2016). Any MSRP discounts on Subaru not including incentives/offers?

At 36/12 residual is 61%Subaru and 47% Volvo with a money factor of .004 Subaru and .00001 Volvo. Sales tax is 7.5% and out the door costs are about 1.3k for Volvo (guessing 1k for Subaru, unsure). I'm putting down 1.5k. I'm getting the lease total about $305/mo each (please correct if wrong). Dealers are pricing at $350/mo. I know there might be some biased being on a Volvo thread, but any input on the better option would be greatly appreciated. Thanks very much!

.00001 MF and 47% residual.
If it's $42K MSRP and $29K CAP cost, I get $258/mo.+tax.

crich19

kyfdx said:

crich19 said:

I'm new to car buying/leasing. I'm considering the 2017 Subaru Legacy Premium and a 2016 Volvo S60 Inscription. MSRP is 32k Subaru and 42k Volvo. With discounts the two cars come in at 29k (a lot more bargaining/discounts for Volvo since 2016). Any MSRP discounts on Subaru not including incentives/offers?

At 36/12 residual is 61%Subaru and 47% Volvo with a money factor of .004 Subaru and .00001 Volvo. Sales tax is 7.5% and out the door costs are about 1.3k for Volvo (guessing 1k for Subaru, unsure). I'm putting down 1.5k. I'm getting the lease total about $305/mo each (please correct if wrong). Dealers are pricing at $350/mo. I know there might be some biased being on a Volvo thread, but any input on the better option would be greatly appreciated. Thanks very much!

.00001 MF and 47% residual.
If it's $42K MSRP and $29K CAP cost, I get $258/mo.+tax.

Thanks, this is helpful! So the dealer is now not applying all the discounts to the Volvo. He has the selling price down to 35,150, about 3k down from the Low MSRP of 38,700. Then, he's adding 4,150 in discounts to make the final price 31,000. But, when looking online, there's about 8,000 in discounts. Also my 1.5k down payment is now applied to the drive off fees which magically equals 1.5k. He's quoting the lease at $335/mo. Thoughts? It just doesn't line up to me, but he has gone down from his initial $355/mo offer (which was his best, of course). Also, is the Residual 47% in Ohio for a 2016 S60 Inscription Premier at 36/12? Thanks again!

Michaell

crich19 said:

kyfdx said:

crich19 said:

I'm new to car buying/leasing. I'm considering the 2017 Subaru Legacy Premium and a 2016 Volvo S60 Inscription. MSRP is 32k Subaru and 42k Volvo. With discounts the two cars come in at 29k (a lot more bargaining/discounts for Volvo since 2016). Any MSRP discounts on Subaru not including incentives/offers?

At 36/12 residual is 61%Subaru and 47% Volvo with a money factor of .004 Subaru and .00001 Volvo. Sales tax is 7.5% and out the door costs are about 1.3k for Volvo (guessing 1k for Subaru, unsure). I'm putting down 1.5k. I'm getting the lease total about $305/mo each (please correct if wrong). Dealers are pricing at $350/mo. I know there might be some biased being on a Volvo thread, but any input on the better option would be greatly appreciated. Thanks very much!

.00001 MF and 47% residual.
If it's $42K MSRP and $29K CAP cost, I get $258/mo.+tax.

Thanks, this is helpful! So the dealer is now not applying all the discounts to the Volvo. He has the selling price down to 35,150, about 3k down from the Low MSRP of 38,700. Then, he's adding 4,150 in discounts to make the final price 31,000. But, when looking online, there's about 8,000 in discounts. Also my 1.5k down payment is now applied to the drive off fees which magically equals 1.5k. He's quoting the lease at $335/mo. Thoughts? It just doesn't line up to me, but he has gone down from his initial $355/mo offer (which was his best, of course). Also, is the Residual 47% in Ohio for a 2016 S60 Inscription Premier at 36/12? Thanks again!

I don't see an Inscription Premier; there is an Inscription Platinum.

.00001 and 47% for 36/12

$2491 summer sales event incentive
$500 Volvo allowance
$4600 lease bonus

It's possible the $8K included incentives that are not applicable for a lease.

You may also want to consider a 24 month lease. Same MF, but residual is 53% and there is an extra $1250 lease cash for 24 month terms, on top of everything else.

crich19

Michaell said:

crich19 said:

kyfdx said:

crich19 said:

I'm new to car buying/leasing. I'm considering the 2017 Subaru Legacy Premium and a 2016 Volvo S60 Inscription. MSRP is 32k Subaru and 42k Volvo. With discounts the two cars come in at 29k (a lot more bargaining/discounts for Volvo since 2016). Any MSRP discounts on Subaru not including incentives/offers?

At 36/12 residual is 61%Subaru and 47% Volvo with a money factor of .004 Subaru and .00001 Volvo. Sales tax is 7.5% and out the door costs are about 1.3k for Volvo (guessing 1k for Subaru, unsure). I'm putting down 1.5k. I'm getting the lease total about $305/mo each (please correct if wrong). Dealers are pricing at $350/mo. I know there might be some biased being on a Volvo thread, but any input on the better option would be greatly appreciated. Thanks very much!

.00001 MF and 47% residual.
If it's $42K MSRP and $29K CAP cost, I get $258/mo.+tax.

Thanks, this is helpful! So the dealer is now not applying all the discounts to the Volvo. He has the selling price down to 35,150, about 3k down from the Low MSRP of 38,700. Then, he's adding 4,150 in discounts to make the final price 31,000. But, when looking online, there's about 8,000 in discounts. Also my 1.5k down payment is now applied to the drive off fees which magically equals 1.5k. He's quoting the lease at $335/mo. Thoughts? It just doesn't line up to me, but he has gone down from his initial $355/mo offer (which was his best, of course). Also, is the Residual 47% in Ohio for a 2016 S60 Inscription Premier at 36/12? Thanks again!

I don't see an Inscription Premier; there is an Inscription Platinum.

.00001 and 47% for 36/12

$2491 summer sales event incentive
$500 Volvo allowance
$4600 lease bonus

It's possible the $8K included incentives that are not applicable for a lease.

You may also want to consider a 24 month lease. Same MF, but residual is 53% and there is an extra $1250 lease cash for 24 month terms, on top of everything else.

Thanks! Those 8k in rebates definitely applies to leasing. It's on their site and Volvo's site. Sorry, I meant S60 T5 Inscription Drive-E FWD (not platinum). Good to know about the 24/mo option. What would you say is a good monthly price? $335/mo still seems too high based on all the numbers.

Michaell

crich19 said:

Michaell said:

crich19 said:

kyfdx said:

crich19 said:

I'm new to car buying/leasing. I'm considering the 2017 Subaru Legacy Premium and a 2016 Volvo S60 Inscription. MSRP is 32k Subaru and 42k Volvo. With discounts the two cars come in at 29k (a lot more bargaining/discounts for Volvo since 2016). Any MSRP discounts on Subaru not including incentives/offers?

At 36/12 residual is 61%Subaru and 47% Volvo with a money factor of .004 Subaru and .00001 Volvo. Sales tax is 7.5% and out the door costs are about 1.3k for Volvo (guessing 1k for Subaru, unsure). I'm putting down 1.5k. I'm getting the lease total about $305/mo each (please correct if wrong). Dealers are pricing at $350/mo. I know there might be some biased being on a Volvo thread, but any input on the better option would be greatly appreciated. Thanks very much!

.00001 MF and 47% residual.
If it's $42K MSRP and $29K CAP cost, I get $258/mo.+tax.

Thanks, this is helpful! So the dealer is now not applying all the discounts to the Volvo. He has the selling price down to 35,150, about 3k down from the Low MSRP of 38,700. Then, he's adding 4,150 in discounts to make the final price 31,000. But, when looking online, there's about 8,000 in discounts. Also my 1.5k down payment is now applied to the drive off fees which magically equals 1.5k. He's quoting the lease at $335/mo. Thoughts? It just doesn't line up to me, but he has gone down from his initial $355/mo offer (which was his best, of course). Also, is the Residual 47% in Ohio for a 2016 S60 Inscription Premier at 36/12? Thanks again!

I don't see an Inscription Premier; there is an Inscription Platinum.

.00001 and 47% for 36/12

$2491 summer sales event incentive
$500 Volvo allowance
$4600 lease bonus

It's possible the $8K included incentives that are not applicable for a lease.

You may also want to consider a 24 month lease. Same MF, but residual is 53% and there is an extra $1250 lease cash for 24 month terms, on top of everything else.

Thanks! Those 8k in rebates definitely applies to leasing. It's on their site and Volvo's site. Sorry, I meant S60 T5 Inscription Drive-E FWD (not platinum). Good to know about the 24/mo option. What would you say is a good monthly price? $335/mo still seems too high based on all the numbers.

I don't see an Inscription Drive-E. This is what I do see:

T5 FWD Drive-E
T5 FWD Drive-E Premier
T6 FWD Drive-E
T6 FWD Drive-E Platinum

And some AWD Drive-E models

We don't track selling prices, so can't really weigh in on how good your deal is.

crich19

Does it matter if the dealer puts part of the rebates into the initial cap cost and the rest applied to the adjusted cap cost? I ask because I'm getting $9,200 in rebates, but $5,050 is applied from the MSRP price, equaling $34,200 initial cap cost, then another $4,150 is applied as rebates, equaling an adjusted cap cost of $30,050. Why would the dealer do this?

Michaell

crich19 said:

Does it matter if the dealer puts part of the rebates into the initial cap cost and the rest applied to the adjusted cap cost? I ask because I'm getting $9,200 in rebates, but $5,050 is applied from the MSRP price, equaling $34,200 initial cap cost, then another $4,150 is applied as rebates, equaling an adjusted cap cost of $30,050. Why would the dealer do this?

It's likely that some of the rebates can only be used in a specific way.

josh46

Looking at S60 Inscription AWD in NY metro. Volvo Premier Package Invoice Credit on Inscription model an incentive...not sure of $value.

MSRP 44,875 In addition to $1000 Conquest incentive, what other incentives are available in my region, including any specific for 24 months?

Please provide MF and residual for:

10/24
10/36

Volvo Financial acquisition fee $695?

All incentives/fees in New York are taxable?

Thanks in advance.

ashleigh919

Is there any reason why Volvo would dump a bunch of incentives in August? I thought they were better now, and they were trying to clear out 2016s?

I had to wait a month to get out of my current lease, but now what's on the website is beyond unaffordable, and I'm not sure if the dealer will honor what we had before because there are less S60 Cross Countries around, and the website now has such drastically different deals:

Mid-July:






Versus now:





So it's essentially the $4,100 incentive that is gone, which is huge.

Thanks for the help/insight.

Michaell

josh46 said:

Looking at S60 Inscription AWD in NY metro. Volvo Premier Package Invoice Credit on Inscription model an incentive...not sure of $value.

MSRP 44,875 In addition to $1000 Conquest incentive, what other incentives are available in my region, including any specific for 24 months?

Please provide MF and residual for:

10/24
10/36

Volvo Financial acquisition fee $695?

All incentives/fees in New York are taxable?

Thanks in advance.

.00001 and 53% / 48%

$2491 Summer sales event
$500 Volvo allowance
$4600 lease bonus
$1250 24 month lease bonus

Yes, acquisition fee is $695 for Volvo

I believe the incentives are subject to sales tax in NY

Michaell

ashleigh919 said:

Is there any reason why Volvo would dump a bunch of incentives in August? I thought they were better now, and they were trying to clear out 2016s?

I had to wait a month to get out of my current lease, but now what's on the website is beyond unaffordable, and I'm not sure if the dealer will honor what we had before because there are less S60 Cross Countries around, and the website now has such drastically different deals:

Mid-July:






Versus now:





So it's essentially the $4,100 incentive that is gone, which is huge.

Thanks for the help/insight.

Here is what I show as incentives for the S60 T5 AWD Cross Country:

$2491 summer sales event
$4000 lease bonus
$850 24 month lease bonus

nyccarguy

Auto manufacturers change these "programs" on a monthly basis. It's all based on regional sales & inventory. Maybe Volvo moved more cars than it expected to last month. If you look at different Volvos, you'll notice each one has a different incentive amount. I think thhe T5 E-Drive FWD which is the most popular has the most incentive money where something like a V70 AWD which is produced in less numbers & turns over quicker might have a lot less incentives.

FCA does the same thing. You want a base Challenger or Challenger R/T? They've got cheap financing, lease deals, cash incentives. You want a Challenger R/T Shaker, Scat Pack, or SRT? No cash incentives.

I'd check the Volvo Website to see if the information on the dealer's website is correct.

ashleigh919

Michaell said:

josh46 said:

Looking at S60 Inscription AWD in NY metro. Volvo Premier Package Invoice Credit on Inscription model an incentive...not sure of $value.

MSRP 44,875 In addition to $1000 Conquest incentive, what other incentives are available in my region, including any specific for 24 months?

Please provide MF and residual for:

10/24
10/36

Volvo Financial acquisition fee $695?

All incentives/fees in New York are taxable?

Thanks in advance.

.00001 and 53% / 48%

$2491 Summer sales event
$500 Volvo allowance
$4600 lease bonus
$1250 24 month lease bonus

Yes, acquisition fee is $695 for Volvo

I believe the incentives are subject to sales tax in NY

Incentives and money you put down are taxable in NY; any cap cost reduction is taxable. It's also more favorable to finance the tax than pay it up-front. Yes, you pay some interest on it, but it's marginal. NY will NEVER refund tax paid if a tree falls on it, the car is stolen, whatever, even if it's a week into the lease. Why be out that money?

I'm a state & local tax attorney; please trust me on this!

ashleigh919

Michaell said:

ashleigh919 said:

Is there any reason why Volvo would dump a bunch of incentives in August? I thought they were better now, and they were trying to clear out 2016s?

I had to wait a month to get out of my current lease, but now what's on the website is beyond unaffordable, and I'm not sure if the dealer will honor what we had before because there are less S60 Cross Countries around, and the website now has such drastically different deals:

Mid-July:






Versus now:





So it's essentially the $4,100 incentive that is gone, which is huge.

Thanks for the help/insight.

Here is what I show as incentives for the S60 T5 AWD Cross Country:

$2491 summer sales event
$4000 lease bonus
$850 24 month lease bonus

nyccarguy said:

Auto manufacturers change these "programs" on a monthly basis. It's all based on regional sales & inventory. Maybe Volvo moved more cars than it expected to last month. If you look at different Volvos, you'll notice each one has a different incentive amount. I think thhe T5 E-Drive FWD which is the most popular has the most incentive money where something like a V70 AWD which is produced in less numbers & turns over quicker might have a lot less incentives.

FCA does the same thing. You want a base Challenger or Challenger R/T? They've got cheap financing, lease deals, cash incentives. You want a Challenger R/T Shaker, Scat Pack, or SRT? No cash incentives.

I'd check the Volvo Website to see if the information on the dealer's website is correct.

@Michaell -- those incentives are even LESS than what is on the Volvo website. This looks hopeless, and there are a bunch of S60 Cross Countries around here. This is not good, because I have someone taking over my current lease, and I'll be without a car...

@nyccarguy These numbers ARE from the Volvo website...great, just great. I never can catch a break, and now at these numbers, I can't afford a car. Yes, I just said I'm attorney, but I have loans from school and I work in a job that affords me a life and is actually a 9-5, so I don't make a lot of money.

Michaell

ashleigh919 said:

Michaell said:

ashleigh919 said:

Is there any reason why Volvo would dump a bunch of incentives in August? I thought they were better now, and they were trying to clear out 2016s?

I had to wait a month to get out of my current lease, but now what's on the website is beyond unaffordable, and I'm not sure if the dealer will honor what we had before because there are less S60 Cross Countries around, and the website now has such drastically different deals:

Mid-July:






Versus now:





So it's essentially the $4,100 incentive that is gone, which is huge.

Thanks for the help/insight.

Here is what I show as incentives for the S60 T5 AWD Cross Country:

$2491 summer sales event
$4000 lease bonus
$850 24 month lease bonus

nyccarguy said:

Auto manufacturers change these "programs" on a monthly basis. It's all based on regional sales & inventory. Maybe Volvo moved more cars than it expected to last month. If you look at different Volvos, you'll notice each one has a different incentive amount. I think thhe T5 E-Drive FWD which is the most popular has the most incentive money where something like a V70 AWD which is produced in less numbers & turns over quicker might have a lot less incentives.

FCA does the same thing. You want a base Challenger or Challenger R/T? They've got cheap financing, lease deals, cash incentives. You want a Challenger R/T Shaker, Scat Pack, or SRT? No cash incentives.

I'd check the Volvo Website to see if the information on the dealer's website is correct.

@Michaell -- those incentives are even LESS than what is on the Volvo website. This looks hopeless, and there are a bunch of S60 Cross Countries around here. This is not good, because I have someone taking over my current lease, and I'll be without a car...

@nyccarguy These numbers ARE from the Volvo website...great, just great. I never can catch a break, and now at these numbers, I can't afford a car. Yes, I just said I'm attorney, but I have loans from school and I work in a job that affords me a life and is actually a 9-5, so I don't make a lot of money.

Be advised that what I have may not be all that's available. But, between my info and the official website, I can't think of anyplace else incentives would be documented.

You may have to adjust your expectations to your budget. Lots of nice mid-sized sedans for pretty low lease prices.

nyccarguy

@ashleigh919 - maybe we can find you a different vehicle. What are you looking for? What's your budget? You live in NY? Don't go by the manufacturer's lease calculator. They are never right.

kyfdx

@ashleigh919 Sometimes, you just have to call or stop by a dealership, and see what they might offer. The internet isn't always right.

Unless, I'm typing it, of course.

ursus

ashleigh919 said:

@Michaell -- those incentives are even LESS than what is on the Volvo website. This looks hopeless, and there are a bunch of S60 Cross Countries around here. This is not good, because I have someone taking over my current lease, and I'll be without a car...

@nyccarguy These numbers ARE from the Volvo website...great, just great. I never can catch a break, and now at these numbers, I can't afford a car. Yes, I just said I'm attorney, but I have loans from school and I work in a job that affords me a life and is actually a 9-5, so I don't make a lot of money.

What are you complaining about? You missed the boat just because you had one moth left on your lease and did not want to "lose" $400 to jump on $14,700 incentives. Tough luck.

josh46

ashleigh919 said:

Michaell said:

ashleigh919 said:

Is there any reason why Volvo would dump a bunch of incentives in August? I thought they were better now, and they were trying to clear out 2016s?

I had to wait a month to get out of my current lease, but now what's on the website is beyond unaffordable, and I'm not sure if the dealer will honor what we had before because there are less S60 Cross Countries around, and the website now has such drastically different deals:

Mid-July:






Versus now:





So it's essentially the $4,100 incentive that is gone, which is huge.

Thanks for the help/insight.

Here is what I show as incentives for the S60 T5 AWD Cross Country:

$2491 summer sales event
$4000 lease bonus
$850 24 month lease bonus

nyccarguy said:

Auto manufacturers change these "programs" on a monthly basis. It's all based on regional sales & inventory. Maybe Volvo moved more cars than it expected to last month. If you look at different Volvos, you'll notice each one has a different incentive amount. I think thhe T5 E-Drive FWD which is the most popular has the most incentive money where something like a V70 AWD which is produced in less numbers & turns over quicker might have a lot less incentives.

FCA does the same thing. You want a base Challenger or Challenger R/T? They've got cheap financing, lease deals, cash incentives. You want a Challenger R/T Shaker, Scat Pack, or SRT? No cash incentives.

I'd check the Volvo Website to see if the information on the dealer's website is correct.

@Michaell -- those incentives are even LESS than what is on the Volvo website. This looks hopeless, and there are a bunch of S60 Cross Countries around here. This is not good, because I have someone taking over my current lease, and I'll be without a car...

@nyccarguy These numbers ARE from the Volvo website...great, just great. I never can catch a break, and now at these numbers, I can't afford a car. Yes, I just said I'm attorney, but I have loans from school and I work in a job that affords me a life and is actually a 9-5, so I don't make a lot of money.

@ashleigh919

I totally agree on rolling taxes in. As for the lease payment estimator on Volvo USA, the estimated lease number is based on the MSRP, not your negotiated price for the car. Does not seem to have capability to edit that number. Sites like TrueCar will show you the range of recent prices paid both locally and nationally (BTW...local NY prices seem to be less than national average). Use these numbers and then add incentives/rebates using Lease Guide calculator to give you a real estimate.

Searching for an actual vehicle on Volvo USA is a little cumbersome....can only search one dealer at a time and the results are sometimes inaccurate. I've found cars.com provides fairly accurate results for inventory at multiple dealers. Once you find a car and confirm availability, negotiate price that works for you, then work dealer to take any remaining payments on your current car.

josh46

Michaell said:

josh46 said:

Looking at S60 Inscription AWD in NY metro. Volvo Premier Package Invoice Credit on Inscription model an incentive...not sure of $value.

MSRP 44,875 In addition to $1000 Conquest incentive, what other incentives are available in my region, including any specific for 24 months?

Please provide MF and residual for:

10/24
10/36

Volvo Financial acquisition fee $695?

All incentives/fees in New York are taxable?

Thanks in advance.

.00001 and 53% / 48%

$2491 Summer sales event
$500 Volvo allowance
$4600 lease bonus
$1250 24 month lease bonus

Yes, acquisition fee is $695 for Volvo

I believe the incentives are subject to sales tax in NY

Are residuals for 2016 S60 Inscription AWD the same for Premier and Platinum trims? Thanks again.

ashleigh919

nyccarguy said:

@ashleigh919 - maybe we can find you a different vehicle. What are you looking for? What's your budget? You live in NY? Don't go by the manufacturer's lease calculator. They are never right.

I need AWD, blindspot, camera, sunroof, leather, and navigation at 15,000 miles. I pay $347 now, with nothing out of pocket, including NY tax, so I really can't go over that.

kyfdx said:

@ashleigh919 Sometimes, you just have to call or stop by a dealership, and see what they might offer. The internet isn't always right.

Unless, I'm typing it, of course.

I did stop by the dealer, and the dealer was honoring the $315. Now they said $399, plus $2000 out of pocket. I have ridiculous loans from school, so I don't have that, but I drive 80 miles round trip to work, so a lot of things are necessary. And yes, a camera and blindspot are necessary, as I've come to learn with people not controlling their children these days, among other things with the places I need to park, etc.

ursus said:

ashleigh919 said:

@Michaell -- those incentives are even LESS than what is on the Volvo website. This looks hopeless, and there are a bunch of S60 Cross Countries around here. This is not good, because I have someone taking over my current lease, and I'll be without a car...

@nyccarguy These numbers ARE from the Volvo website...great, just great. I never can catch a break, and now at these numbers, I can't afford a car. Yes, I just said I'm attorney, but I have loans from school and I work in a job that affords me a life and is actually a 9-5, so I don't make a lot of money.

What are you complaining about? You missed the boat just because you had one moth left on your lease and did not want to "lose" $400 to jump on $14,700 incentives. Tough luck.

Actually, please don't bash people when you don't know what you're talking about. I've had a HORRIBLE time with my current car and have 10 months left on my lease. I'm not an idiot and would have eaten the last month if that was the case. I am getting out of my lease and suing the dealership because they damaged my car when it was last in, so there were complications about signing last month, aside from the fact that my car sat there for 8 days while the dealership did nothing. Tough luck, but for the wrong reasons. I should have been so lucky to get a car last month.

ursus

Well, you haven't been clear about your situation.

ashleigh919 said:

I had to wait a month to get out of my current lease...

ashleigh919 said:

...and have 10 months left on my lease...

But if you were not ready for whatever reason in July - then what's the point of looking back on what "could've been"?

ashleigh919 said:

I need AWD, blindspot, camera, sunroof, leather, and navigation at 15,000 miles. I pay $347 now, with nothing out of pocket, including NY tax, so I really can't go over that.

Have you considered to lower your expectations an look at Subaru Legacy? You could probably lease a pretty loaded one for that money.

ashleigh919

ursus said:

Well, you haven't been clear about your situation.

ashleigh919 said:

I had to wait a month to get out of my current lease...

ashleigh919 said:

...and have 10 months left on my lease...

But if you were not ready for whatever reason in July - then what's the point of looking back on what "could've been"?

Because I thought that I was getting out of my lease then. It's a long story.

ashleigh919 said:

I need AWD, blindspot, camera, sunroof, leather, and navigation at 15,000 miles. I pay $347 now, with nothing out of pocket, including NY tax, so I really can't go over that.

Have you considered to lower your expectations an look at Subaru Legacy? You could probably lease a pretty loaded one for that money.

I absolutely loathe Subaru for a bunch of reasons. I think they're junk. Yes, I have driven them for extended periods of time, as in over a week straight as loaner cars from the dealership. And actually, their lease rates are awful, anyway. They always have been. My parents looked 2 years ago, and they wanted over $600 for a Legacy. What a joke; it's a $30,000 car!

The rate right now is $219 with $1,889 down on a standard. The MSRP is $22,815, and that's at 12,000 miles.

The limited is $31,000 so add $9,000 plus $2,000 for zero down, and you're at $520ish before even going to 15,000 miles. Again, a joke! That's aside from it being an extremely uncomfortable car with a horrible interface and substandard everything, but really the interface is the most annoying thing on earth. No thanks!

tipathos

Dealer in SoCal just confirmed these numbers for me:

24 months 12k/yr
$0 Down
MSRP $39,475
Cap Cost $28,500
Residual (won't respond but for 36/12k they quoted 54%): ?
MF .00001

For 299+tax. I keep asking for more specifics like selling price and what the incentives are and they just don't reply. My calculations are coming up with substantially lower monthly payments. Am I missing something?

Michaell

tipathos said:

Dealer in SoCal just confirmed these numbers for me:

24 months 12k/yr
$0 Down
MSRP $39,475
Cap Cost $28,500
Residual (won't respond but for 36/12k they quoted 54%): ?
MF .00001

For 299+tax. I keep asking for more specifics like selling price and what the incentives are and they just don't reply. My calculations are coming up with substantially lower monthly payments. Am I missing something?

What trim level is this?

ursus

ashleigh919 said:

I absolutely loathe Subaru for a bunch of reasons. I think they're junk....

LOL It's not Volvo, sure, but it's got all you need. They are not junk but any means. Subaru never subsidizes their leases, but that doesn't mean you can't get a deal in $350 range on a loaded one if you negotiate well. Just negotiate good sale price (~$1.5K under invoice) and calculate lease payments yourself. You will never be at $500-600 with $0 down. But if you ask a dealer for a lease quote - yeah, they may give you one like that.
What we are seeing with Volvo lease incentives is aberration when you can lease a $48K car for under $400 with $0 down.

tipathos

Michaell said:

tipathos said:

Dealer in SoCal just confirmed these numbers for me:

24 months 12k/yr
$0 Down
MSRP $39,475
Cap Cost $28,500
Residual (won't respond but for 36/12k they quoted 54%): ?
MF .00001

For 299+tax. I keep asking for more specifics like selling price and what the incentives are and they just don't reply. My calculations are coming up with substantially lower monthly payments. Am I missing something?

What trim level is this?

They just say "2016 Volvo S60 T5 with Premier, Heated Seats, Keyless Drive" but don't specify more than that. And are so terribly uncommunicative through email.

karate19

Hi. Please comment on this offer in NY (tax 8.625). S60 T5 Inception AWD
36 mth/12K
Capitalized Cost $39,500
MF .00001
Residual 54%

All in sign and drive $495/mth

Thanks
Amy

nyccarguy

@ashleigh919 - thanks for laying out your parameters. Given the amount of miles per year you drive (80 X 5 = 400) and the features you are looking for, leasing might be a tough pill to swallow. I know, I drive from Stamford, CT to The Bronx 6 days per week (63 miles round trip). Also, what is your current make & model so I know where not to steer you toward?

kyfdx

tipathos said:

Michaell said:

tipathos said:

Dealer in SoCal just confirmed these numbers for me:

24 months 12k/yr
$0 Down
MSRP $39,475
Cap Cost $28,500
Residual (won't respond but for 36/12k they quoted 54%): ?
MF .00001

For 299+tax. I keep asking for more specifics like selling price and what the incentives are and they just don't reply. My calculations are coming up with substantially lower monthly payments. Am I missing something?

What trim level is this?

They just say "2016 Volvo S60 T5 with Premier, Heated Seats, Keyless Drive" but don't specify more than that. And are so terribly uncommunicative through email.

We show .00001 MF and 53% residual for 24/12.
36/12 residual would be 47%.

I'll guess that $28,500 is the sale price, and doesn't include acquisition fee, or registration/doc fee. On 24 month leases, it doesn't take a lot of extras to boost the monthly payment by a lot.

karate19

Looking for comments on:

NY
S60 T5 Inception AWD - with Bliss & Convenience
36 mth/12K
MSRP 43,575
Capitalized Cost $39,500
MF .00001
Residual 54%

All in sign and drive $495/mth

Thank you,

ashleigh919

ursus said:

ashleigh919 said:

I absolutely loathe Subaru for a bunch of reasons. I think they're junk....

LOL It's not Volvo, sure, but it's got all you need. They are not junk but any means. Subaru never subsidizes their leases, but that doesn't mean you can't get a deal in $350 range on a loaded one if you negotiate well. Just negotiate good sale price (~$1.5K under invoice) and calculate lease payments yourself. You will never be at $500-600 with $0 down. But if you ask a dealer for a lease quote - yeah, they may give you one like that.
What we are seeing with Volvo lease incentives is aberration when you can lease a $48K car for under $400 with $0 down.

I beg to differ; everything is so plastic and disgusting. The ones I've driven were so uncomfortable, I felt like my back was breaking. The interface is just really awful, too -- the gas gauge was in the middle of the dashboard? There is honestly nothing I like about Subaru, and the other thing is I would never pay the same thing I'm paying now for plastic, cheap, horrible, etc. -- and for a car that has an MSRP which is $6,500 less than what I'm driving now. That just says, "Hi, you were ripped off."

nyccarguy said:

@ashleigh919 - thanks for laying out your parameters. Given the amount of miles per year you drive (80 X 5 = 400) and the features you are looking for, leasing might be a tough pill to swallow. I know, I drive from Stamford, CT to The Bronx 6 days per week (63 miles round trip). Also, what is your current make & model so I know where not to steer you toward?

Except there's no way I can afford to buy for a few reasons, especially the payment. I only go to work 4 days a week and work at home one day, so that's good. Also, The car must be under warranty (I had an older car, and I'm NEVER doing that again), so anything with a 3-year, 36,000 mile warranty is a no-go -- bye, Subaru!!!! -- unless I get a 24-month lease. Buying a car and dumping it after 2 years is definitely not feasible, and after 3 years, the amount I would pay vs. what I could sell it for would almost certainly be a loss. Plus, the extra money I would spend in the process of maybe breaking even is nowhere near worth it. But again, I can't swing that payment with my loans.

I'm on my second of two Ford Fusions. I had a 2012 SEL AWD, which was great. I have a 2014 Titanium AWD, which is a nightmare on wheels. I was thinking of another Grand Cherokee (I've had three), but they're so expensive now since my last one. I'm really limited in that I must have AWD/4x4, don't want anything Japanese (no Honda or Toyota, please -- bad experiences with both!), and honestly, with the way motorcyclists weave in and out, blindspot has become a must, too. Navigation is used for traffic, because I hate using a phone illegally, plus the screen is small and annoying while in a car.

Now the real Volvo question is why am I being told the MF on the S60 Cross Country is 0.00126 (3.02%) when the regular S60 is 0.00001 (0.02%)? That's like usury at about $70 a month in finance charges...

volvodad

Looking for a sanity check on this lease deal in NY...clock is ticking to do it by the end of the month. Thank you.

2016 Volvo S60 T5 AWD w/ Premier, Climate Package, Convenience Package, BLIS Package

MSRP: $44,035
Cap cost: $34,518
Cap cost reductions: $4,530
Money factor: 0.00001
Residual: $20,256 (46%)

$1,000 out of pocket
15,000 miles per year
$396/mo, 39 months

ashleigh919

volvodad said:

Looking for a sanity check on this lease deal in NY...clock is ticking to do it by the end of the month. Thank you.

2016 Volvo S60 T5 AWD w/ Premier, Climate Package, Convenience Package, BLIS Package

MSRP: $44,035
Cap cost: $34,518
Cap cost reductions: $4,530
Money factor: 0.00001
Residual: $20,256 (46%)

$1,000 out of pocket
15,000 miles per year
$396/mo, 39 months

Why don't you check the 24-month price? There's an extra $850 incentive for 24 months. That residual is really low. The residual at 24 months is 52% for 15,000.

Also, which dealer in NY/where in NY, since I'm checking prices myself at different dealers. Those are the packages I'd be interested in; going between an S60cc and a regular one right now.

nyccarguy

ashleigh919 said:

ursus said:

ashleigh919 said:

I absolutely loathe Subaru for a bunch of reasons. I think they're junk....

LOL It's not Volvo, sure, but it's got all you need. They are not junk but any means. Subaru never subsidizes their leases, but that doesn't mean you can't get a deal in $350 range on a loaded one if you negotiate well. Just negotiate good sale price (~$1.5K under invoice) and calculate lease payments yourself. You will never be at $500-600 with $0 down. But if you ask a dealer for a lease quote - yeah, they may give you one like that.
What we are seeing with Volvo lease incentives is aberration when you can lease a $48K car for under $400 with $0 down.

I beg to differ; everything is so plastic and disgusting. The ones I've driven were so uncomfortable, I felt like my back was breaking. The interface is just really awful, too -- the gas gauge was in the middle of the dashboard? There is honestly nothing I like about Subaru, and the other thing is I would never pay the same thing I'm paying now for plastic, cheap, horrible, etc. -- and for a car that has an MSRP which is $6,500 less than what I'm driving now. That just says, "Hi, you were ripped off."

nyccarguy said:

@ashleigh919 - thanks for laying out your parameters. Given the amount of miles per year you drive (80 X 5 = 400) and the features you are looking for, leasing might be a tough pill to swallow. I know, I drive from Stamford, CT to The Bronx 6 days per week (63 miles round trip). Also, what is your current make & model so I know where not to steer you toward?

Except there's no way I can afford to buy for a few reasons, especially the payment. I only go to work 4 days a week and work at home one day, so that's good. Also, The car must be under warranty (I had an older car, and I'm NEVER doing that again), so anything with a 3-year, 36,000 mile warranty is a no-go -- bye, Subaru!!!! -- unless I get a 24-month lease. Buying a car and dumping it after 2 years is definitely not feasible, and after 3 years, the amount I would pay vs. what I could sell it for would almost certainly be a loss. Plus, the extra money I would spend in the process of maybe breaking even is nowhere near worth it. But again, I can't swing that payment with my loans.

I'm on my second of two Ford Fusions. I had a 2012 SEL AWD, which was great. I have a 2014 Titanium AWD, which is a nightmare on wheels. I was thinking of another Grand Cherokee (I've had three), but they're so expensive now since my last one. I'm really limited in that I must have AWD/4x4, don't want anything Japanese (no Honda or Toyota, please -- bad experiences with both!), and honestly, with the way motorcyclists weave in and out, blindspot has become a must, too. Navigation is used for traffic, because I hate using a phone illegally, plus the screen is small and annoying while in a car.

Now the real Volvo question is why am I being told the MF on the S60 Cross Country is 0.00126 (3.02%) when the regular S60 is 0.00001 (0.02%)? That's like usury at about $70 a month in finance charges...

Got it. So you are looking for a loaded up AWD European vehicle for $350 per month with $0 out of pocket due at signing (rolling in the taxes, Acquisition Fee, as well as DMV fees). Let me see what I can conjure up for you when & if I take lunch today.

Would you care to share your Fusion experience over on the MID SIZED SEDANS 2.0 board?

kyfdx

karate19 said:

Looking for comments on:

NY
S60 T5 Inception AWD - with Bliss & Convenience
36 mth/12K
MSRP 43,575
Capitalized Cost $39,500
MF .00001
Residual 54%

All in sign and drive $495/mth

Thank you,

Inscription! Not surprised you can't keep it straight... their model designations are ridiculous.
Are you sure this isn't a 2017 model?
That residual is not correct for 2016.

2017 discussion is here:
http://forums.edmunds.com/discussion/42704/volvo/s60/2017-volvo-s60-lease-questions/p1?new=1

kyfdx

volvodad said:

Looking for a sanity check on this lease deal in NY...clock is ticking to do it by the end of the month. Thank you.

2016 Volvo S60 T5 AWD w/ Premier, Climate Package, Convenience Package, BLIS Package

MSRP: $44,035
Cap cost: $34,518
Cap cost reductions: $4,530
Money factor: 0.00001
Residual: $20,256 (46%)

$1,000 out of pocket
15,000 miles per year
$396/mo, 39 months

.00001 MF and 46% residual is correct for 36 months... 39/15 residual is 43%
$2491 Summer Sales Event
$4000 lease cash.

I get $396/mo for 36/15.

stillmatic23

Hi there,

2016 T5 FWD Premier with BLIS and park assist.

24/12 and 36/12 MF, residual, and incentive please

Also are there bigger incentives on higher trim levels that I should also consider?

kyfdx

stillmatic23 said:

Hi there,

2016 T5 FWD Premier with BLIS and park assist.

24/12 and 36/12 MF, residual, and incentive please

Also are there bigger incentives on higher trim levels that I should also consider?

.00001 MF and 53%/47% residual.
$2491 Summer Sales Event
$4000 lease cash
$850 24-month bonus lease cash.

Numbers don't really get any better on higher trims..