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2016 Volvo XC60 Lease Questions

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    MichaellMichaell Moderator Posts: 245,351
    jgiovino said:
    any december numbers for xc60 30 and 39 months 10k miles and r design?
    Sorry no Volvo numbers for December. 

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    wheresweldowheresweldo Member Posts: 5
    Looking at buying a 2016 Volvo XC60 T6 R-Design AWD in Colorado. What are December 2015 numbers/residual value for a 39 month/10,000 miles per year lease? Thanks!
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    MichaellMichaell Moderator Posts: 245,351

    Looking at buying a 2016 Volvo XC60 T6 R-Design AWD in Colorado. What are December 2015 numbers/residual value for a 39 month/10,000 miles per year lease? Thanks!

    We didn't get the Volvo lease numbers for December, sorry.

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    wheresweldowheresweldo Member Posts: 5

    Looking at buying a 2016 Volvo XC60 T6 R-Design AWD in Colorado. What are December 2015 numbers/residual value for a 39 month/10,000 miles per year lease? Thanks!

    Any chance you could post November 2015 numbers for a reference point? Thanks again!
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    kyfdxkyfdx Moderator Posts: 243,828

    Looking at buying a 2016 Volvo XC60 T6 R-Design AWD in Colorado. What are December 2015 numbers/residual value for a 39 month/10,000 miles per year lease? Thanks!

    Any chance you could post November 2015 numbers for a reference point? Thanks again!
    .00109 MF and 56% residual.. in November

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    jivedonkeyjivedonkey Member Posts: 7
    edited December 2015
    I saw local Volvo dealers are advertising the XC60 ($43k MSRP spec) for $399/mo with $799 out the door (39/10k) if you qualify for Loyalty or Conquest. 

    Does anyone one know if this can be combined with an A Plan discount? (Currently approx $2300)

    Also, do they usually let you buy up the mileage up front to 12k?
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    MichaellMichaell Moderator Posts: 245,351

    I saw local Volvo dealers are advertising the XC60 ($43k MSRP spec) for $399/mo with $799 out the door (39/10k) if you qualify for Loyalty or Conquest. 

    Does anyone one know if this can be combined with an A Plan discount? (Currently approx $2300)

    Also, do they usually let you buy up the mileage up front to 12k?

    The regional or national offer usually assumes some sort of dealer "contribution" (discount) from sticker. You should be able to beat it with good negotiating - or, in this case, the A plan price.

    If you want 12K instead of 10K, the residual value drops by 1%

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    kpajd123kpajd123 Member Posts: 5
    edited January 2016
    Hello, new to the forum. I have a lease question on the 2016 XC 60 AWD Premier. I have been given the following quote from a dealer in Colorado.

    MSRP $45,530. Money factor is .00119, residual 55%. I have excellent credit.

    The cap costs are:

    with $0 down- $42,326, monthly payment of $565

    with $1,000 down- $41,909, monthly payment of $553

    with $2,000 down- $40,955, monthly payment of $526

    These prices include tax (my tax is 7.65%). All prices are for 12k miles per year. I am new to leasing, and do not know how to evaluate if this is a fair deal. The monthly payments do seem a bit high to me, and I think I need to negotiate the cap cost down lower. Any thoughts/help would be appreciated. Thanks.

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    kyfdxkyfdx Moderator Posts: 243,828
    kpajd123 said:

    Hello, new to the forum. I have a lease question on the 2016 XC 60 AWD Premier. I have been given the following quote from a dealer in Colorado.

    MSRP $45,530. Money factor is .00119, residual 55%. I have excellent credit.

    The cap costs are:

    with $0 down- $42,326, monthly payment of $565

    with $1,000 down- $41,909, monthly payment of $553

    with $2,000 down- $40,955, monthly payment of $526

    These prices include tax (my tax is 7.65%). All prices are for 12k miles per year. I am new to leasing, and do not know how to evaluate if this is a fair deal. The monthly payments do seem a bit high to me, and I think I need to negotiate the cap cost down lower. Any thoughts/help would be appreciated. Thanks.

    Is it 39 months? If so, residual is correct, but the base MF is .00079.

    Calculations seem pretty close, once tax is added. The money factor markup is adding about $30/mo. to the payment. No idea if selling price/cap cost is good, though.

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    kpajd123kpajd123 Member Posts: 5
    kyfdx said:

    kpajd123 said:

    Hello, new to the forum. I have a lease question on the 2016 XC 60 AWD Premier. I have been given the following quote from a dealer in Colorado.

    MSRP $45,530. Money factor is .00119, residual 55%. I have excellent credit.

    The cap costs are:

    with $0 down- $42,326, monthly payment of $565

    with $1,000 down- $41,909, monthly payment of $553

    with $2,000 down- $40,955, monthly payment of $526

    These prices include tax (my tax is 7.65%). All prices are for 12k miles per year. I am new to leasing, and do not know how to evaluate if this is a fair deal. The monthly payments do seem a bit high to me, and I think I need to negotiate the cap cost down lower. Any thoughts/help would be appreciated. Thanks.

    Is it 39 months? If so, residual is correct, but the base MF is .00079.

    Calculations seem pretty close, once tax is added. The money factor markup is adding about $30/mo. to the payment. No idea if selling price/cap cost is good, though.
    Yes, the lease is for 39 months (sorry for not including that). The prices quoted by the dealer include tax. It sounds like I should be asking for a MF of .00079, correct? Curious, is the MF set by the manufacturer?
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    MichaellMichaell Moderator Posts: 245,351
    kpajd123 said:



    kyfdx said:

    kpajd123 said:

    Hello, new to the forum. I have a lease question on the 2016 XC 60 AWD Premier. I have been given the following quote from a dealer in Colorado.

    MSRP $45,530. Money factor is .00119, residual 55%. I have excellent credit.

    The cap costs are:

    with $0 down- $42,326, monthly payment of $565

    with $1,000 down- $41,909, monthly payment of $553

    with $2,000 down- $40,955, monthly payment of $526

    These prices include tax (my tax is 7.65%). All prices are for 12k miles per year. I am new to leasing, and do not know how to evaluate if this is a fair deal. The monthly payments do seem a bit high to me, and I think I need to negotiate the cap cost down lower. Any thoughts/help would be appreciated. Thanks.

    Is it 39 months? If so, residual is correct, but the base MF is .00079.

    Calculations seem pretty close, once tax is added. The money factor markup is adding about $30/mo. to the payment. No idea if selling price/cap cost is good, though.
    Yes, the lease is for 39 months (sorry for not including that). The prices quoted by the dealer include tax. It sounds like I should be asking for a MF of .00079, correct? Curious, is the MF set by the manufacturer?
    The MF and residual are set by the bank; the dealer can mark up the MF for extra profit.

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    mightypeetmightypeet Member Posts: 1
    I've never leased a car before and am looking at the 2016 Volvo XC60 T5 AWD Premier. The current deal is a 39 month lease/12,000 miles with 1750 loyalty incentive. I've read over the Edmunds leasing strategies, but want to make sure I don't get hosed. Is it good to put money down? Any help is appreciated.
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    kyfdxkyfdx Moderator Posts: 243,828
    kpajd123 said:



    kyfdx said:

    kpajd123 said:

    Hello, new to the forum. I have a lease question on the 2016 XC 60 AWD Premier. I have been given the following quote from a dealer in Colorado.

    MSRP $45,530. Money factor is .00119, residual 55%. I have excellent credit.

    The cap costs are:

    with $0 down- $42,326, monthly payment of $565

    with $1,000 down- $41,909, monthly payment of $553

    with $2,000 down- $40,955, monthly payment of $526

    These prices include tax (my tax is 7.65%). All prices are for 12k miles per year. I am new to leasing, and do not know how to evaluate if this is a fair deal. The monthly payments do seem a bit high to me, and I think I need to negotiate the cap cost down lower. Any thoughts/help would be appreciated. Thanks.

    Is it 39 months? If so, residual is correct, but the base MF is .00079.

    Calculations seem pretty close, once tax is added. The money factor markup is adding about $30/mo. to the payment. No idea if selling price/cap cost is good, though.
    Yes, the lease is for 39 months (sorry for not including that). The prices quoted by the dealer include tax. It sounds like I should be asking for a MF of .00079, correct? Curious, is the MF set by the manufacturer?
    The base MF is set by Volvo Finance. Dealers can mark it up for extra profit.

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    MichaellMichaell Moderator Posts: 245,351

    I've never leased a car before and am looking at the 2016 Volvo XC60 T5 AWD Premier. The current deal is a 39 month lease/12,000 miles with 1750 loyalty incentive. I've read over the Edmunds leasing strategies, but want to make sure I don't get hosed. Is it good to put money down? Any help is appreciated.

    Some good articles here:

    http://www.edmunds.com/car-leasing/

    Do not put money down (cap cost reduction) on a lease - that money is at risk if the car is stolen or totaled.

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    paolomusicpaolomusic Member Posts: 10
    Hi guys, just wondering if you have info for 12k/39months on XC60 T5AWD. Quoted $490 per month with $2000 COD. Price of the car was between $39k-$40k (I didn't realize he hadn't written that down until I looked at home). There's a national deal for $479 with $0 COD for 10/39, price of the car on that is $43,405. Just wondering if I can get a nice hybrid of those two deals and negotiate down any further on what I was offered. Appreciate any help you can give! Thanks.

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    MichaellMichaell Moderator Posts: 245,351

    Hi guys, just wondering if you have info for 12k/39months on XC60 T5AWD. Quoted $490 per month with $2000 COD. Price of the car was between $39k-$40k (I didn't realize he hadn't written that down until I looked at home). There's a national deal for $479 with $0 COD for 10/39, price of the car on that is $43,405. Just wondering if I can get a nice hybrid of those two deals and negotiate down any further on what I was offered. Appreciate any help you can give! Thanks.

    We didn't get any Volvo lease numbers for February, sorry.

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    paolomusicpaolomusic Member Posts: 10
    Michaell said:

    Hi guys, just wondering if you have info for 12k/39months on XC60 T5AWD. Quoted $490 per month with $2000 COD. Price of the car was between $39k-$40k (I didn't realize he hadn't written that down until I looked at home). There's a national deal for $479 with $0 COD for 10/39, price of the car on that is $43,405. Just wondering if I can get a nice hybrid of those two deals and negotiate down any further on what I was offered. Appreciate any help you can give! Thanks.

    We didn't get any Volvo lease numbers for February, sorry.

    No worries, thanks!
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    arsenal2389arsenal2389 Member Posts: 43
    Hi - MF and residual on base T5 AWD and T5 AWD Premier. I am in NJ.

    Thanks a lot!
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    kyfdxkyfdx Moderator Posts: 243,828

    Hi - MF and residual on base T5 AWD and T5 AWD Premier. I am in NJ.

    Thanks a lot!

    Sorry, we haven't received the Volvo numbers, this month.

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    jknaus23jknaus23 Member Posts: 2
    Any chance you have any numbers for March yet? I was looking at a 2016 T5 AWD Premier/BLIS 12/39 for $425/mo with $0 down ($3,100 total for taxes and fees) which was dropped to $400/month after I told them I was going to hold off. I have seen the same car that has the same features but also includes Proximity pkg at 10/39 for $329/month at another dealer and am going to check that out. I suspect this second car has some miles on it since CARFAX showed 6.600 listed but not sure that makes a huge difference as long as we can keep within the mileage.
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    jknaus23jknaus23 Member Posts: 2
    jknaus23 said:

    Any chance you have any numbers for March yet? I was looking at a 2016 T5 AWD Premier/BLIS 12/39 for $425/mo with $0 down ($3,100 total for taxes and fees) which was dropped to $400/month after I told them I was going to hold off. I have seen the same car that has the same features but also includes Proximity pkg at 10/39 for $329/month at another dealer and am going to check that out. I suspect this second car has some miles on it since CARFAX showed 6.600 listed but not sure that makes a huge difference as long as we can keep within the mileage.

    Note the second car is also with $0 down, only taxes, fees, first month payment due at signing like the first car. This is in NY.
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    MichaellMichaell Moderator Posts: 245,351
    jknaus23 said:

    jknaus23 said:

    Any chance you have any numbers for March yet? I was looking at a 2016 T5 AWD Premier/BLIS 12/39 for $425/mo with $0 down ($3,100 total for taxes and fees) which was dropped to $400/month after I told them I was going to hold off. I have seen the same car that has the same features but also includes Proximity pkg at 10/39 for $329/month at another dealer and am going to check that out. I suspect this second car has some miles on it since CARFAX showed 6.600 listed but not sure that makes a huge difference as long as we can keep within the mileage.

    Note the second car is also with $0 down, only taxes, fees, first month payment due at signing like the first car. This is in NY.
    We never got any numbers for Volvo in March.

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    tippcitytippcity Member Posts: 6
    Was wondering if we have any lease information on the 16' T5 FWD Platinum. Looking for 36 or 39 months 15K on the miles. Thanks!
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    kyfdxkyfdx Moderator Posts: 243,828
    tippcity said:

    Was wondering if we have any lease information on the 16' T5 FWD Platinum. Looking for 36 or 39 months 15K on the miles. Thanks!

    Sorry.. we don't have the Volvo numbers for April

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    calmark999calmark999 Member Posts: 27
    Numbers haven't been available for the past three months. Where do you guys get the numbers from? Is it someplace where we can look them up on our own? Thanks.
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    calmark999calmark999 Member Posts: 27
    ljp7011 said:

    Just got a deal from my dealer for the following. Can you let me know if I got a good deal?

    2016 XC60 T5 AWD Premier (added BLIS, Proximity, Metallic Paint, Heated Seats) in Sevile, Off black interior

    MSRP 46,985
    Sales Price: 42,675
    Govt Fees: 168.15
    Proc/Doc Fees: 134
    Aquisition Fee: 995
    Gross Cap Cost: 42,675
    Cash Down: 3,000
    Net Cap Cost: 41,549

    Mileage: 12,000
    Term: 39 months
    Payment: $477 (with 9% PA tax)
    Upfront Tax: 101.26

    Please let me know if you think this is good or not? I am brand new to leasing, and completely unsure. Thanks!

    I'd say you were overcharged on the acquisition fee. The standard fee with Volvo is $695. It's listed right on their website, if you use their payment calculator. They tried charging me $995 as well when I leased my 2015 XC60. I protested strongly, and they lowered it to $695. Next time you'll know better.
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    MichaellMichaell Moderator Posts: 245,351

    Numbers haven't been available for the past three months. Where do you guys get the numbers from? Is it someplace where we can look them up on our own? Thanks.

    Numbers are confidential. No public access to them.

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    MichaellMichaell Moderator Posts: 245,351

    can i please get whatever most recent NorCal #s for T5 Drive E and T6 Drive-E, both FWD for 36/12?? thanks!

    We haven't seen any Volvo lease numbers for several months, sorry.

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    zhiyulaizhiyulai Member Posts: 14
    NJ lease numbers right now for the 2016 Volvo XC60 T6-AWD-E from what I was given is:

    39/10
    MF - 0.00062
    RV - 53%
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    kyfdxkyfdx Moderator Posts: 243,828
    zhiyulai said:

    NJ lease numbers right now for the 2016 Volvo XC60 T6-AWD-E from what I was given is:

    39/10
    MF - 0.00062
    RV - 53%

    Thanks for sharing.

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    disabelle1disabelle1 Member Posts: 20
    Can you tell me the CA lease numbers for June 2016 on a 2016 XC60 T6 AWD with the following: Proximity Package, Blind Spot Information System Package, Convenience Package.
    MSRP $47,230 plus $5800 KPAX package. Dealer quoted me monthly lease payment of $744 including 8.5% tax, with $3000 down for 36month/10K per month. He quoted MF of 0.00168 and residual of $23,615, which seemed REALLY high given some of the numbers I have seen here. Appreciate you taking a look at this for me.
    Many Thanks.
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    kyfdxkyfdx Moderator Posts: 243,828

    Can you tell me the CA lease numbers for June 2016 on a 2016 XC60 T6 AWD with the following: Proximity Package, Blind Spot Information System Package, Convenience Package.
    MSRP $47,230 plus $5800 KPAX package. Dealer quoted me monthly lease payment of $744 including 8.5% tax, with $3000 down for 36month/10K per month. He quoted MF of 0.00168 and residual of $23,615, which seemed REALLY high given some of the numbers I have seen here. Appreciate you taking a look at this for me.
    Many Thanks.

    Going to assume it's the T6 AWD (6 cylinder). Because the numbers match up.
    .00168 MF and 50% residual.

    That XC60 model has the worst lease numbers. I'm not going to pretend to know the difference between the 16 different XC60 models listed, but the programs are better on the T5 models and the T6 Drive-E models.

    What the heck is the KPAX package for $5800?

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    MichaellMichaell Moderator Posts: 245,351
    kyfdx said:

    Can you tell me the CA lease numbers for June 2016 on a 2016 XC60 T6 AWD with the following: Proximity Package, Blind Spot Information System Package, Convenience Package.
    MSRP $47,230 plus $5800 KPAX package. Dealer quoted me monthly lease payment of $744 including 8.5% tax, with $3000 down for 36month/10K per month. He quoted MF of 0.00168 and residual of $23,615, which seemed REALLY high given some of the numbers I have seen here. Appreciate you taking a look at this for me.
    Many Thanks.

    What the heck is the KPAX package for $5800?
    And does Kevin Spacey come with it, for that price? :sunglasses:

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    disabelle1disabelle1 Member Posts: 20
    Yes, it is the T6 AWD 6 cylinder.(Didn't like the 4 cylinder AWD models) KPAX is a KPAX Performance Racing package. They added in performance exhaust, tires and wheels. Cost would come down to around $42K with all rebates/incentives so looks like they would prefer a purchase over a lease. Anyway thanks for your reply. It's a bummer the numbers are so bad on this. For just $40/month more, I can get into a 2016 Audi SQ5.
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    kyfdxkyfdx Moderator Posts: 243,828

    Yes, it is the T6 AWD 6 cylinder.(Didn't like the 4 cylinder AWD models) KPAX is a KPAX Performance Racing package. They added in performance exhaust, tires and wheels. Cost would come down to around $42K with all rebates/incentives so looks like they would prefer a purchase over a lease. Anyway thanks for your reply. It's a bummer the numbers are so bad on this. For just $40/month more, I can get into a 2016 Audi SQ5.

    Yeah... I'll guess they can't fully residualize that package, either.. That's what is making the price so high. Who needs a "racing" package on an SUV? :p

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    mplslexusmplslexus Member Posts: 18
    FYI They are transitioning the XC60 from the 6cyl T6 to the new 4 cyl "e" T6 - that 4cyl is both Turbo and Supercharged to 300hp. reliability guesses? remember, Volvo isn't Lexus or Porsche.
    so not it's a T5 = 5cyl turbo, or T6, 4cyl turbo & supercharger. yet there are leftover 6cyl turbo T6 - and yes, horrible lease rates on the now "old" 6cyl T6.
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    mplslexusmplslexus Member Posts: 18
    Got this "quote" from a dealer. to me looks like lots of info missing. seems like a great discount from $50k down to $39k. but the lease still seems expensive per month? also, I think he screwed up as I told him to use a total of $4,000.00 at signing/drive off. that money factor too high?

    2016 VOLVO XC60 T6 DRIVE-E SUV


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    mplslexusmplslexus Member Posts: 18
    oh, I'm in Bloomington, MN 55431 - Dealer is ST. LOUIS, MO 63143
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    MichaellMichaell Moderator Posts: 245,351
    mplslexus said:

    Got this "quote" from a dealer. to me looks like lots of info missing. seems like a great discount from $50k down to $39k. but the lease still seems expensive per month? also, I think he screwed up as I told him to use a total of $4,000.00 at signing/drive off. that money factor too high?

    2016 VOLVO XC60 T6 DRIVE-E SUV


    I show the base MF as .00062 for the T6 Drive-E AWD.

    Acquisition fee is $695, so that is marked up as well.

    What is the $1194 charge? And, does MN or MO collect sales tax on a lease up front? I know neither state taxes the full selling price, so that tax amount looks too high as well.

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    mplslexusmplslexus Member Posts: 18
    oh and I have no timeline but word is he XC60 will be updated. as in a whole new design. it's been around since 2009 and in the USA since 2010 with only facelifts. so if buying, make sure you get a really hot price as a new one could be out in a month? or 2 years?
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    mplslexusmplslexus Member Posts: 18
    From the MO dealer:

    The $1194 is the Acq fee of 995(this is "our" acq fee) and the $90 for plates.

    The money factor is somewhat flexible from dealer to dealer, just as interest is on a purchase. Our .00072 vs another dealer's .00062 does raise the payment by $6 per month, however, we are very generous with many thousands off the original MSRP which most dealers do not offer.

    The deal does reflect tax on 39000 at 7.725%(this is the estimated MN tax)
    Regards,

    I told him:
    in MN we only pay tax on the lease term. so if the lease payment is say $341 a month x 39 months that $13,299 then we pay tax on $13,299 not $39k. the proton we are “using”

    license plates are a LOT higher here. $500+ for new car. per year - goes down each year.
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    kyfdxkyfdx Moderator Posts: 243,828
    mplslexus said:

    From the MO dealer:

    The $1194 is the Acq fee of 995(this is "our" acq fee) and the $90 for plates.

    The money factor is somewhat flexible from dealer to dealer, just as interest is on a purchase. Our .00072 vs another dealer's .00062 does raise the payment by $6 per month, however, we are very generous with many thousands off the original MSRP which most dealers do not offer.

    The deal does reflect tax on 39000 at 7.725%(this is the estimated MN tax)
    Regards,

    I told him:
    in MN we only pay tax on the lease term. so if the lease payment is say $341 a month x 39 months that $13,299 then we pay tax on $13,299 not $39k. the proton we are “using”

    license plates are a LOT higher here. $500+ for new car. per year - goes down each year.

    Not surprising that a MO dealer wouldn't calculate tax correctly for MN.

    Looks like a really good deal, especially once they straighten out the tax thing.

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    frodo_59frodo_59 Member Posts: 5
    Thanks to Michaell and all for posting, anyone who looks for a new vehicle without this site as part of their due diligence is missing out!!

    Just Leased a 2016 Volvo XC60 T6 Drive E Platinum AWD
    Drove from Pittsburgh to Columbus OH for the deal 400 miles round trip


    MSRP: 52,040 (Climate, BLIS, Protection)

    Price: 43,500 (including 1,000 conquest cash for owning a VW, Free Platinum Upgrade and Mfgr--> Dealer Incentive) 8,500 off -- pretty good.

    Residual: 26,020 50% based on 15k miles per year

    Money factor: .00062

    Fees: 250 Doc, 795 Acquisition

    Trade 2002 suburban (223k miles) 1,500

    Tags and First Month Pmt ~ 675

    Net Cap 43,720 (43500+250+795+675-1500)

    PA Use Tax at 9%

    39 Months

    $541.82
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    MichaellMichaell Moderator Posts: 245,351
    frodo_59 said:

    Thanks to Michaell and all for posting, anyone who looks for a new vehicle without this site as part of their due diligence is missing out!!

    Just Leased a 2016 Volvo XC60 T6 Drive E Platinum AWD
    Drove from Pittsburgh to Columbus OH for the deal 400 miles round trip


    MSRP: 52,040 (Climate, BLIS, Protection)

    Price: 43,500 (including 1,000 conquest cash for owning a VW, Free Platinum Upgrade and Mfgr--> Dealer Incentive) 8,500 off -- pretty good.

    Residual: 26,020 50% based on 15k miles per year

    Money factor: .00062

    Fees: 250 Doc, 795 Acquisition

    Trade 2002 suburban (223k miles) 1,500

    Tags and First Month Pmt ~ 675

    Net Cap 43,720 (43500+250+795+675-1500)

    PA Use Tax at 9%

    39 Months

    $541.82

    Congrats! Thanks for sharing your deal details with us.

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    2015 Subaru Outback 3.6R / 2014 MINI Countryman S ALL4

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    calmark999calmark999 Member Posts: 27
    mplslexus said:


    The $1194 is the Acq fee of 995(this is "our" acq fee) and the $90 for plates.

    $995 + $90 does not equal $1194.

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    calmark999calmark999 Member Posts: 27
    edited July 2016
    What is the current money factor (for Tier 3 credit) and residual value on a 2016 Volvo XC60 FWD T5 Drive-E Platinum for 24 months and 10,000 miles per year?

    Thank you.
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    kyfdxkyfdx Moderator Posts: 243,828
    edited July 2016

    What is the current money factor (for Tier 3 credit) and residual value on a 2016 Volvo XC60 FWD T5 Drive-E Platinum for 24 months and 10,000 miles per year?

    Thank you.

    .00001 MF and 58% residual for top tier
    .00026 MF for Tier 3 (that's a really small bump, compared to most manufacturers)

    $3055 summer sales event bonus
    $600 24-month lease bonus + $1000 lease bonus

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    calmark999calmark999 Member Posts: 27
    edited July 2016
    kyfdx said:

    What is the current money factor (for Tier 3 credit) and residual value on a 2016 Volvo XC60 FWD T5 Drive-E Platinum for 24 months and 10,000 miles per year?

    Thank you.

    .00001 MF and 58% residual for top tier
    .00026 MF for Tier 3 (that's a really small bump, compared to most manufacturers)

    $3055 summer sales event bonus
    $600 24-month lease bonus + $1000 lease bonus
    Thanks very much. I actually leased a new XC60 last night, and was very happy with the deal, especially considering my credit tier. However, I should have verified the money factor with you beforehand, because it appears that they did mark the money factor up a bit - amounting to approximately an additional $20 per month. I can't say I'm happy about that, but it's not the end of the world.

    Here's the deal I got:

    MSRP: $47,570
    Gross Cap Cost (Selling Price): $40,364.74
    Gross Cap Cost Including $695 Acquisition Fee: $41,059.74
    Rebates/Non-Cash Credits: -$3750
    Down Payment: -$3650
    Money Factor (as I calculated it): .00055 (rounded)
    Adjusted Cap Cost: $35,540.34
    Residual Value: $27,590.60 (58%)
    Base Monthly Payment/Sales Tax (9%)/Total Monthly Payment: $365.96 + $32.94 = $398.90

    They said they included some of the bonus incentives to reduce the selling price, which seemed strange to me, but it's okay. I still got about $11,000 (about 23%) off the MSRP, which is what I expected going into the dealership, and by using those incentives to reduce the price rather than use them as credits, it meant that I didn't have to pay sales tax on that portion of the incentives.

    I think I will ask them if the money factor can be reduced, since it can't hurt to ask.

    Thanks to you guys for all of the help you give to us every day. :smile:
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    kyfdxkyfdx Moderator Posts: 243,828

    kyfdx said:

    What is the current money factor (for Tier 3 credit) and residual value on a 2016 Volvo XC60 FWD T5 Drive-E Platinum for 24 months and 10,000 miles per year?

    Thank you.

    .00001 MF and 58% residual for top tier
    .00026 MF for Tier 3 (that's a really small bump, compared to most manufacturers)

    $3055 summer sales event bonus
    $600 24-month lease bonus + $1000 lease bonus
    Thanks very much. I actually leased a new XC60 last night, and was very happy with the deal, especially considering my credit tier. However, I should have verified the money factor with you beforehand, because it appears that they did mark the money factor up a bit - amounting to approximately an additional $20 per month. I can't say I'm happy about that, but it's not the end of the world.

    Here's the deal I got:

    MSRP: $47,570
    Gross Cap Cost (Selling Price): $40,364.74
    Gross Cap Cost Including $695 Acquisition Fee: $41,059.74
    Rebates/Non-Cash Credits: -$3750
    Down Payment: -$3650
    Money Factor (as I calculated it): .00055 (rounded)
    Adjusted Cap Cost: $35,540.34
    Residual Value: $27,590.60 (58%)
    Base Monthly Payment/Sales Tax (9%)/Total Monthly Payment: $365.96 + $32.94 = $398.90

    They said they included some of the bonus incentives to reduce the selling price, which seemed strange to me, but it's okay. I still got about $11,000 (about 23%) off the MSRP, which is what I expected going into the dealership, and by using those incentives to reduce the price rather than use them as credits, it meant that I didn't have to pay sales tax on that portion of the incentives.

    I think I will ask them if the money factor can be reduced, since it can't hurt to ask.

    Thanks to you guys for all of the help you give to us every day. :smile:
    I agree with your calculations on the money factor. Doubt you'll get them to change it, since it's probably not disclosed on the lease paperwork. Good luck, and congrats on the new vehicle.

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    calmark999calmark999 Member Posts: 27
    edited July 2016
    kyfdx said:

    I agree with your calculations on the money factor. Doubt you'll get them to change it, since it's probably not disclosed on the lease paperwork. Good luck, and congrats on the new vehicle.

    Thank you. I did talk with both the sales representative as well as the finance manager. The sales rep said that the money factor was not marked up, but then I spoke with the finance manager, who admitted that the money factor was, indeed, marked up from .00026 to .00055. I decided to accept it, however, considering a few things: 1) The huge discount that I got (nearly 11K off the MSRP), 2) The fact that the marked up money factor is less than half of the money factor I was given on my last Volvo lease, and 3) The fact that the sales rep really helped me out by returning my rental car for me the day after the purchase. It's a little complicated to explain all the details, but he had to make two trips to do it, and is helping me avoid a late fee on the return, etc. 4) My credit scores qualified me for Tier 3 rates. With most automakers, I'm sure my money factor would have been higher - perhaps significantly higher.

    In general, it was a very good experience, and what's most important is that I'm very happy with the car and the overall price I paid.

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