Volvo XC90 2016/2017 lease question

nabeelfarooqui

Hey guys, interested in leasing one of these bad boys and had a couple questions:

1. Looks like people are getting at least $3k off MSRP (some I've seen even as high at $5k off). Those are pretty crazy good numbers. Should I only focus on the 2016 to get those numbers, or could they potentially apply to 2017 as well?
2. I have looked thru dealer inventory around my area and haven't found the perfect combination of features that I am interested in. If I custom order, are those able to be discounted to the degree as outlined above?
3. What are the July residual and MF for 30mo/15k, 36mo/15k, and 39mo/15k


Thanks in advance!

nabeelfarooqui

BTW - looking at the T6 Inscription. Thanks!

kyfdx

Sorry, we don't have the Volvo numbers, this month.

With Volvo, if you order, you'll likely give up any bargaining power. And, it's likely too late to order a 2016 model. If you want a deal, find something on the lot that you like.

nabeelfarooqui

Kyfdx - thanks so much. I just want you to know, over the past 10 years, I have leased every vehicle and you have been instrumental in helping me get the best deal!!!

Given that the 2016 are still on the lot, how much off MSRP should I be working towards.

Also, what is the Audi Q7 Premium plus looking like? I am assuming that with the 2017 model, not too much off available? What are the lease's like?

Thanks!

porsche911c4s

I'm curious to see how the July numbers pan out. Q7 is a bad lease right now and I think Audis typically are. 

My plan is to wait till months end. Local Volvo dealer has 150 xc90s in stock so hopefully that'll give me bargaining power. I plan to shoot for 10 percent off. Hopefully residuals are the same with a slight lowering of the mf. 

nabeelfarooqui

Let me know how it goes. Wow 150 in stock? Where is your dealer? 

Abd be what are the current residuals and MF running? From what I recall wasn't too much off the mark compared with Audi?

porsche911c4s

Glen cove, NY. 143 non-hybrid xc90s, probably 50 t5s, 90 t6s...30 or so loaners. Good selection but I haven't reached out to them yet. Waiting as my ml350 lease comes to an end next month but I figured end of the month would be good. 2017 xc90s are showing up in their inventory but probably aren't inbound yet. If you look at the past few threads you'll see the MFs and residuals. Audis residuals I think are decent on the q7s, but the MF is double-triple that of a t6 (depending on trim)

rbradleysd

Hey! Looking at an Inscription
MSRP: 59000 and change
Purchase Price: 56000
Lease 18k a year, 3 year lease
6k Down
What MF/Residual/Payment should I be looking at?

kyfdx

nabeelfarooqui said:

Kyfdx - thanks so much. I just want you to know, over the past 10 years, I have leased every vehicle and you have been instrumental in helping me get the best deal!!!

Given that the 2016 are still on the lot, how much off MSRP should I be working towards.

Also, what is the Audi Q7 Premium plus looking like? I am assuming that with the 2017 model, not too much off available? What are the lease's like?

Thanks!

Sorry... we don't track prices.

kyfdx

rbradleysd said:

Hey! Looking at an Inscription
MSRP: 59000 and change
Purchase Price: 56000
Lease 18k a year, 3 year lease
6k Down
What MF/Residual/Payment should I be looking at?

We don't yet have Volvo numbers for July. Hopefully, later this week.

rbradleysd

kyfdx said:

rbradleysd said:

Hey! Looking at an Inscription
MSRP: 59000 and change
Purchase Price: 56000
Lease 18k a year, 3 year lease
6k Down
What MF/Residual/Payment should I be looking at?

We don't yet have Volvo numbers for July. Hopefully, later this week.

Thank you. I will check back. I forgot to add I'm in CA with an 8% tax rate

rbradleysd

Hey! Did we get July sales numbers yet?

kyfdx

rbradleysd said:

Hey! Did we get July sales numbers yet?

Yes, which model?

nabeelfarooqui

Ok so here is what I am looking at. Currently in a Mazda CX-9, of which I am 1.5 yrs into the lease. At this trajectory I will likely go over the mileage limit, and I am EXTREMELY bored with it (have a base model). So currently I am about $4k negative equity compared with the payoff price. Spoke with local Volvo dealer who was giving me $4k off MSRP on the lease and so I convinced him to just take my Mazda back.

In the end, not ending up with a GREAT lease, but am getting out of my current one without losing my shirt. Here is the break down:

2016 XC90 Momentum Plus with convenience, vision, climate package, protection package, and heads up display.
MSRP: $60,700
Cap cost: $60,700
Residual: $34,422 (is this number typically based off MSRP or cap cost)???
MF: 0.00069
Term 39 months
Miles 15k/mo

Wanted to know if these numbers are correct for July. Secondly, is it a good deal and finally, what should the monthly come out to with this formula??

Thanks!!!!

kyfdx

nabeelfarooqui said:

Ok so here is what I am looking at. Currently in a Mazda CX-9, of which I am 1.5 yrs into the lease. At this trajectory I will likely go over the mileage limit, and I am EXTREMELY bored with it (have a base model). So currently I am about $4k negative equity compared with the payoff price. Spoke with local Volvo dealer who was giving me $4k off MSRP on the lease and so I convinced him to just take my Mazda back.

In the end, not ending up with a GREAT lease, but am getting out of my current one without losing my shirt. Here is the break down:

2016 XC90 Momentum Plus with convenience, vision, climate package, protection package, and heads up display.
MSRP: $60,700
Cap cost: $60,700
Residual: $34,422 (is this number typically based off MSRP or cap cost)???
MF: 0.00069
Term 39 months
Miles 15k/mo

Wanted to know if these numbers are correct for July. Secondly, is it a good deal and finally, what should the monthly come out to with this formula??

Thanks!!!!

T6? .00069 MF and 53% residual for 39/15.
Residual is always a percentage of the full MSRP

$796/mo.+tax

nabeelfarooqui

Yes, a T6. What do you think of the lease overall - is it a favorable one to pull the trigger on? Residual is kinda crappy

kyfdx

nabeelfarooqui said:

Yes, a T6. What do you think of the lease overall - is it a favorable one to pull the trigger on? Residual is kinda crappy

Personally, I wouldn't eat negative equity to get out of a lease early. But, the deal on the new one seems reasonable.

nabeelfarooqui

Ok, so it will be a bit of a drive, but I did find a dealer who is taking my Mazda back in it's current state - about $2k negative equity.

2016 CX90 Momentum plus
MSRP: $53,775
Cap Cost: $51,713
Residual: $28,225.15
MF: 0.00069
39 mo/15k
Payment: $729/mo tax included. First months payment due at signing (only cost)

KYFDX, can you please double check the math.

Seems like a pretty good deal considering the trade in?

mmakoto

MSRP/Retail $55,445
Selling  Price $51,188
Government  Fee $465.70
Proc/Doc  Fee $299
Additional  Cap  Items $1294
Paid  by  Customer $5000
Total  Payment $648.09
Residual  Value $30,495.00

This is for a 2017 t6 momentum with some options for 15k 39mths. Does it seem like there are additional fees? I've never leased a vehicle, so I'm trying to understand the #s, and it seems quite high. Any thoughts or comments?

nabeelfarooqui

What is "additional cap"? And are you planning to pay $5000 down?

mmakoto

nabeelfarooqui said:

What is "additional cap"? And are you planning to pay $5000 down?

This is what the salesperson said via email, and some of these charges are more complicated than I thought. The $5k is what they are expecting me to pay as down. 

Quote 
The government fees cover the costs for registering the vehicle.  The additional cap fee is the sales tax that is capitalized as a part of the lease.
Unquoted 

kyfdx

nabeelfarooqui said:

Ok, so it will be a bit of a drive, but I did find a dealer who is taking my Mazda back in it's current state - about $2k negative equity.

2016 CX90 Momentum plus
MSRP: $53,775
Cap Cost: $51,713
Residual: $28,225.15
MF: 0.00069
39 mo/15k
Payment: $729/mo tax included. First months payment due at signing (only cost)

KYFDX, can you please double check the math.

Seems like a pretty good deal considering the trade in?

Is the $2000 added on to the CAP cost, or is that including the $2000 negative equity

kyfdx

mmakoto said:

MSRP/Retail $55,445
Selling  Price $51,188
Government  Fee $465.70
Proc/Doc  Fee $299
Additional  Cap  Items $1294
Paid  by  Customer $5000
Total  Payment $648.09
Residual  Value $30,495.00

This is for a 2017 t6 momentum with some options for 15k 39mths. Does it seem like there are additional fees? I've never leased a vehicle, so I'm trying to understand the #s, and it seems quite high. Any thoughts or comments?

Which state?

mmakoto

kyfdx said:

MSRP/Retail $55,445
Selling  Price $51,188
Government  Fee $465.70
Proc/Doc  Fee $299
Additional  Cap  Items $1294
Paid  by  Customer $5000
Total  Payment $648.09
Residual  Value $30,495.00

This is for a 2017 t6 momentum with some options for 15k 39mths. Does it seem like there are additional fees? I've never leased a vehicle, so I'm trying to understand the #s, and it seems quite high. Any thoughts or comments?

Which state?

NY, NYC. this quote was given by a NJ dealership.

kyfdx

mmakoto said:

kyfdx said:

mmakoto said:

MSRP/Retail $55,445
Selling  Price $51,188
Government  Fee $465.70
Proc/Doc  Fee $299
Additional  Cap  Items $1294
Paid  by  Customer $5000
Total  Payment $648.09
Residual  Value $30,495.00

This is for a 2017 t6 momentum with some options for 15k 39mths. Does it seem like there are additional fees? I've never leased a vehicle, so I'm trying to understand the #s, and it seems quite high. Any thoughts or comments?

Which state?

NY, NYC. this quote was given by a NJ dealership.

I'm not sure they are giving you exact information. Tax would likely be higher than $1294. I'll guess that the $1294 is a marked up $995 acq.fee and a the $299 dealer fee. Then, your $5000 pays for the $465 government fee + sales tax + CAP reduction tax + 1st payment. Leaving about $2000 left over for CAP reduction.

That would make your adjusted CAP cost $51188 + $1294 - $2000 = $50482

.00151 MF and 55% residual for 39/15.

$635/mo.

I estimated a lot of things, so $13/mo. off is in range. Your taxes are probably higher than NJ, which might make up some of the difference.

nabeelfarooqui

kyfdx said:

nabeelfarooqui said:

Ok, so it will be a bit of a drive, but I did find a dealer who is taking my Mazda back in it's current state - about $2k negative equity.

2016 CX90 Momentum plus
MSRP: $53,775
Cap Cost: $51,713
Residual: $28,225.15
MF: 0.00069
39 mo/15k
Payment: $729/mo tax included. First months payment due at signing (only cost)

KYFDX, can you please double check the math.

Seems like a pretty good deal considering the trade in?

Is the $2000 added on to the CAP cost, or is that including the $2000 negative equity

It has already been factored in. Basically they gave me $4k off MSRP for the lease. With $2k negative equity for the trade in, the cap cost is at $2k below MSRP. This is in the state of IN. Hope that makes sense.

kyfdx

nabeelfarooqui said:

kyfdx said:

nabeelfarooqui said:

Ok, so it will be a bit of a drive, but I did find a dealer who is taking my Mazda back in it's current state - about $2k negative equity.

2016 CX90 Momentum plus
MSRP: $53,775
Cap Cost: $51,713
Residual: $28,225.15
MF: 0.00069
39 mo/15k
Payment: $729/mo tax included. First months payment due at signing (only cost)

KYFDX, can you please double check the math.

Seems like a pretty good deal considering the trade in?

Is the $2000 added on to the CAP cost, or is that including the $2000 negative equity

It has already been factored in. Basically they gave me $4k off MSRP for the lease. With $2k negative equity for the trade in, the cap cost is at $2k below MSRP. This is in the state of IN. Hope that makes sense.

If that is the adjusted CAP cost, then $657/mo.+tax.

Most likely, that's not all of it. What about the acquisition fee and title/license fees?

nabeelfarooqui

Only first month due at signing.... So unless they screw me/bait and switch, this is with everything rolled in....

Does it not sound correct for some reason?

nabeelfarooqui

How much is the lease tax rate for the state of IN? Any way of knowing?

kyfdx

nabeelfarooqui said:

How much is the lease tax rate for the state of IN? Any way of knowing?

Should be the same as your state sales tax rate. Around 7% on the payment, I think.

kyfdx

nabeelfarooqui said:

Only first month due at signing.... So unless they screw me/bait and switch, this is with everything rolled in....

Does it not sound correct for some reason?

You have to ask for the adjusted CAP cost. Everything else is just a guess

m_kothuri@yahoo.com

mmakoto said:

kyfdx said:

MSRP/Retail $55,445
Selling  Price $51,188
Government  Fee $465.70
Proc/Doc  Fee $299
Additional  Cap  Items $1294
Paid  by  Customer $5000
Total  Payment $648.09
Residual  Value $30,495.00

This is for a 2017 t6 momentum with some options for 15k 39mths. Does it seem like there are additional fees? I've never leased a vehicle, so I'm trying to understand the #s, and it seems quite high. Any thoughts or comments?

Which state?

NY, NYC. this quote was given by a NJ dealership.

Is this from Edison/Bridgewater/Princeton dealership??

kyfdx

The 2016 XC90 lease discussion is here:
http://forums.edmunds.com/discussion/35706/volvo/xc90/2016-volvo-xc90-lease-questions#latest

The 2017 discussion is here:
http://forums.edmunds.com/discussion/41974/volvo/xc90/2017-volvo-xc90-lease-questions#latest