I am in the same area as you, my two closest Volvo dealers are Edison and Princeton, both owned by the same people. I was in the market to purchase the S40 and I had been working on a deal with the Edison dealer. I was comparing prices between them, Princeton, and another dealer, when the Edison salesperson "modified" the terms I had told him I was interested in. At this time, the salesperson in Princeton inferred I was lying about the deal a dealer up north was giving me. The dealer in Edison advised that if I'm really getting that good of a price I should go with them because he can't match it.
I don't know if you would find a better deal with a lease by going elsewhere, but when I was purchasing the folks I went to were looking to close the deal because it was nearing end of month for them. If you're interested, I can give you the info for the salespeople I dealt with up there. I have no regrets going there, I just don't see how my local dealers couldn't have been more competitive. I also didn't appreciate being called a liar.
If you are interested in the contact information for the dealer I used, send me an email at volvos40.5.bigdummy@spamgourmet.com.
I just received a quote for a T5 AWD, Premium Package, Audio Package, Climate Package.
36 Months, 15k per year MSRP 34375 Lease Support $6500 MF .00207 45 % Residual $2086 Down (New York State, Westchester County, lots of fees, bank fee, etc.)
I pulled the trigger on this deal (post 156) today. Only we found a car with sirius built-in (i LOVE my sirius) so that added just $3 per month. $108 total over the cost of the lease for an integrated solution rather than an ugly little box on the dash is a good deal to me, plus first 6 months free.
I'm very happy that the selling price this lease is based on is approx $9500 off msrp, and there are no hidden fees or BS. The tax (it is what it is) and bank fees (set by US Bank, non neg) plus just $45 doc fee, NY $10 tire fee etc.
$377 a month for an S40 AWD, Auto, Premium, Climate, Audio, Sirius seems to me like an excellent deal. I do like the volvo more than the A4 which seems to be it's competitor and i don't think you can get an a4 quattro with all that stuff for this price.
Hey drpie1. Volvo Finance's April lease program for the '07 S40 is different than it was in March. If you tell me exactly what car you are interested in, how long you want to lease it for, and how many miles per year you need to be able to drive I would be happy to give you an idea of what this car's current lease program is like.
Hi Alex. The lease program for this car varies by term and mileage allowance. For now I will assume that you are interested in a 36 month lease with 15,000 miles per year. Let me know if you want something different. Volvo Finance's current buy rate lease money factor and residual value for a 36 month lease of a 2007 S40 2.4i with 15,000 miles per year are .00184 and 52%, respectively. A special enhanced money factor is available on base models that do not have any options and have manual transmissions, but based on the equipment that you mentioned in your post I can see that you don't want such a stripped car.
Hi pshifrin. The $6,500 lease cash that you mentioned is right in line with Volvo's current offer for leases of the '07 S40 T5 AWD through independent banks, which is a good thing. Name sure that you negotiate a dealer discount on top of this lease cash. There is at least a $1,750 spread between this car's full MSRP and invoice price that you should be able to take a bite out of.
Hi ledname. The large amount of lease cash that you have seen mentioned is for leases of 2007 S40s through independent banks. Volvo Finance also has its own special lease program that this cash is not compatible with. It appears as though community members have been getting the best deals by taking advantage of the cash and leasing through banks other than Volvo Finance. The exact amount of this incentive varies by trim level. It is $4,000 on the '07 S40 2.4i, $5,500 on the T5, and $6,500 on AWD models. This program is currently scheduled to run through July 9th, but Volvo reserves the right to change it before then if it wants to.
Does your monthly payment include taxes? Just a few weeks ago, i negotiated "more" care for less money than you were quoted. Mine also had 15k, metallic paint, geartronic and sirius which should add around $1700 to the msrp. Similar residual and mf. A little over $2k OTD but that included the taxes and i got $377 / 36 months. So in comparison, i think you could do better.
Thanks. Yeah - that's exactly $2K OTD and $408 (all taxes/fees included). I think the difference is geartronic. We were quoted a similar car as you describe above for $378 / 36 months. However, we want the 6-speed manual and I was told there's a 2% difference in residual (automatics have higher residual). I keep getting different #'s when I plug into lease formulas and not sure if this works out to $30 more per month . . . Between CAP cost and our trade-in, I'm still trying to negotiate a price under $400/mo . . .
I went to my volvo dealer the other day and they said I could leasean s60 for less than an s40 thru this program. Could u please tell me if there were any changes for May. Thanks
Car Man - you mentioned in an earlier post that the large amount of lease cash is through independent banks and that Volvo Finance has its own special lease program that this cash is not compatible with. Therefore, is it safe to assume then I will be a better deal by going through a leasing company? I have just started looking at the S40's and I am wondering where to start?? Help!
I'm so excited about the lease I got this evening! After a few long hours at McDonald Volvo in Littleton, CO. on Saturday and an insulting lease offer of $450/month and $3500 down over 48 months for the S40 T5 AWD manual with premium package. Last ditch offer from McDonald was $370/month including taxes, $3500 down, over 35 months for a S40 2.4i manual leather seats.
Today I went into Rickenbaugh Volvo in Denver, CO which is 1 mile from my house and was pleasantly surprised! I hinted at already shopping at their competitor and they barely bet them by $10 a month, but when I stood up to leave they came back with this deal that I signed and drove off the lot!
S40 T5 AWD Manual Metallic Blue Premium and Climate package + Premium sound and Sirius, keyless. $370.69/month including taxes for 35 months $2316.85 down $34825 MSRP $25861 Adjusted CAP $14975 Residual 12k miles/year
Our salesperson said there was no difference between manual and automatics residual value and that basically denver had the same lease incentives as NJ or anywhere else. Over all it was such a positive experience having told them about the deals people were getting on this website! They were willing to match it because I did my homework and wasn't going to be satisfied until I got my price.
You're very welcome, mail4mrx. Thank you for noticing . The low selling price and high money factor that you were quoted for this car lead me to believe that this lease is being run through a bank other than Volvo Finance. This is fine, but you need to make sure that you are taking advantage of the special huge $6,800 incentive that Volvo is providing on leases of the '07 S40 T5 AWD through independent banks right now. It looks like you are. With this cash incentive, it looks to me as though you are at around $500 or so over dealer invoice which is a good deal.
Hi stew6. Volvo did make a few unscheduled revisions to its incentives for the month of May. I don't believe that Volvo Finance's money factors changed, but it did increase the special cash incentive on 2007 S60 models that are leased through independent banks.
Hi kriscojo. It is difficult for me to say whether it will be less expensive for you to lease the car that you are interested in through Volvo Finance or to use the special cash incentive and lease it through an independent bank. You're right, the large cash incentives are attractive, but Volvo Finance's money factors are usually much lower and its residual values are usually higher than the ones that are available through other banks. The payments that are available through both are often very similar. The attractiveness of one relative to the other varies by model and from month to month. Dealers will usually try to steer consumers towards the one that has the best deal at a given time.
Congratulations on getting the new S40 that you wanted, 5280s40. Thanks for taking the time to share the details of your deal with everyone. Enjoy your new ride!
I am interested in a 36-month, 10K/yr lease on an S40 2.4i automatic with the select package. The MSRP for this setup is $27,465. What money factor and residual should I be using? I live in the Philadelphia area. Thanks.
Hi Car_man - I'm looking at the current 36 mo $329 Volvo Finance lease deal on the S40 which requires no money down, no first payment, and no security deposit. The mileage allowance is 10.5k. How can I best determine how much the lease would be for 15k mileage with this offer? Do you know what the MF and residual is for this Volvo Finance deal?
Hello All, I am helping my father get an S40 with Automatic and Climate Control package. MSRP is $27,355 and the dealer dropped it to $22,500 due to the US Bank lease financing incentives. However, the MF is .0024, residual is at 47% and the deal comes out to $1,300 out of pocket and $366/month. I feel its a little high and we walked out, they have been calling. Any input on what a good price I should shoot for? We are planning on returning tomorrow to close a deal, whether its there or another place. Thanks in advance for your help!
Does anyone happen to know the current rates for August for the S40 and S60? I'd even take the July rates for now just so I can have a ballpark idea of what these have been leasing for in the past. Thanks.
Hi elite1. The best way to evaluate these deals is to look at their MSRPs and selling prices. The larger the discount you are receiving, the better. I would be happy to share my thoughts on these deals with you if you provide me with these car's selling prices.
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Hello ericliaw. You never mentioned the selling price or MSRP of the car that you are interested in leasing. These are important numbers for you as a consumer to know for two reasons. First, the selling prices of leased vehicles can be negotiated, just as if you were paying cash for them. Without knowing this what car's selling price is in relation to its MSRP you don't know how much of a discount you are getting on it. The second reason is that one needs the selling price and MSRP, including the destination charge, of a vehicle to calculate its lease payment. I would be more than happy to give you my opinion of this deal if you let me know what these numbers are.
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I'd be happy to help you out, sprinkler13. These cars' lease programs vary by trim level, term, and mileage allowance. For now I will assume that you are interested in a 36 month lease of a 2007 Volvo S40 2.4i with 15,000 miles per year and a similar lease on an '07 S60 2.5T. Let me know if you want something different.
According to the latest information that I have seen, Volvo Finance's buy rate lease money factor and residual value for a 36 month lease of an '07 S40 2.4i with 15,000 miles per year are .00147 and 49%, respectively. The numbers for an otherwise identical lease of an '07 S60 2.5T are .00017 and 42%. When negotiating your lease on these cars, make sure to take the $500 lease cash that Volvo is currently providing on the '07 S40 and $3,500 lease cash that it is providing on the S60 into account.
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Thanks Car Man...those are the models I'm looking at too Do you know how the residual changes if I go to a 12k/year or 10k/year lease? Also do you happen to know the rates for a 39 and 48 month term? Thanks for all your help.
You're very welcome, sprinkler13. Volvo Finance's residual values for leases with 10,500 miles per year are 1% higher than its 12,000 mile per year residual values. I believe that the 39 month, 15k buy rate lease money factor and residual value for the '07 S40 2.4i are .00203 and 44%, respectively. Its 48 month numbers are .00203 and 40%.
Volvo Finance's 39 month, 15k numbers for the '07 S60 2.5T are .00172 and an unbelievably low 37%. Its 48 month numbers are .00172 and 35%.
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Thanks for helping me to decipher all of the puts/takes on leasing options ... does anyone see any opportunity to improve this deal?
MSRP: $34.5K Lease Incentive: $5K (the nos. below are after the incentive) Down pymt: $7K Residual: 24mos = $19K or 36mos = $15.5K Money Factor: 24mos = .00488 or 36mos = $.00315 Pymt: 24mos = $410/mo. or 36mos = $350/mo Taxes: No tax state
i certainly wouldn't put down $7k on a lease. You are better off keeping that money in the bank and just paying more per month. If you total the car, your insurance should cover the car, but you will have lost that down payment.
Also...what is the selling price of the car? That is very important to calculating the lease. And post the sell price before and after any incentives
Let's see... $34.5k msrp, right? Now, I'm not going to look it up, but I'm going to assume a $32k invoice. You should be getting the incentive off invoice or near it. So let's say you are generous and go with $500 over invoice. That's $32,500. Knock off the $5k incentive and that leaves $27,500.
You put down $7k and have a $19k residual ... that only leaves $1500 to pay off over 24 months. So how in the heck does that equate to a $410 payment???
The money factors quoted to you are absolutely ridiculous, but they still wouldn't bump the payment THAT much! Heck, even if you paid full MSRP, we're still talking only $3500. Add in fees and overcharges or whatever and round it up to $5k and that's STILL just a bit over $200/mo. So I don't get it.
Are you sure someone isn't mistaking that $7k for $2k???
'11 GMC Sierra 1500; '98 Alfa 156 2.0TS; '08 Maser QP; '67 Coronet R/T; '13 Fiat 500c; '20 S90 T6; '22 MB Sprinter 2500 4x4 diesel; '97 Suzuki R Wagon; '96 Opel Astra; '11 Mini Cooper S
Dealer said for lease: you take the MSPR minus the $5K to get the baseline (so essentially $34.5K - $5K = $29.5K and work from that point). Then for buy outright or finance it was MSRP minus $2K or $32.5K...
Guess it just depends on where the Dealer starts the baseline. Yes the money factor looks like 2x what I have seen ... crazy. Maybe I will try another Volvo dealer in town to compare.
I'll ask about the $7K vs $2K ... amazing they are that far off ...
Was the $5k incentive what they are offering if you lease thru an outside bank? Is it manufacturer to dealer cash? Also, do you know if the money factors that they quoted you was an out side bank rate, or was that them marking up the Volvo MF?
2.4i Auto Select Sirius lojack (not included in MSRP)
MSRP $28455 Selling price $21323 $595 Bank Fee Gross Cap cost $21918 Residual 12235.65 (43%) MF - .0024 36mo. / 15k miles Monthly payment 350.94 Tax 28.95 Total $379.89/mo. Total due at signing $639.35 (includes 1st, reg, and doc fee)
How does that sound...to me it looks pretty good since it's so far under invoice with the leasing incentives. And the residual is low enough to consider buying at the end of the lease.
We can get a pretty decent 7 year loan for like 6.25%, but it seems to me that to lease it for 3 years and then potentially buy it out on a new 3-4 year loan would still be cheaper. And in case the car isn't worth keeping, we get out of it in 3 years. Thoughts?
well, that's sounding alot more realistic. Did you figure out what went wrong with the other deal?
what you have now is pretty much in line with what leasecompare is showing, so it looks good.
by the way, financing a car for 7 years is nuts. Granted, 6.25% on a 7-year note is pretty darn good, but would you really want to be making payments on a car after 6 years and 90k miles? I've come to the realization that if I can't pay off a car in 5 years, then I can't afford it.
In any case, thanks to the lease incentives on volvos, it is far better to lease, then buy it out.
'11 GMC Sierra 1500; '98 Alfa 156 2.0TS; '08 Maser QP; '67 Coronet R/T; '13 Fiat 500c; '20 S90 T6; '22 MB Sprinter 2500 4x4 diesel; '97 Suzuki R Wagon; '96 Opel Astra; '11 Mini Cooper S
I actually never had any deal lined up...I was just coming up with figures on my own. To be honest, I really only even started researching the Volvos a few days ago since it's for my girl and she wasn't thinking about a new car until she heard one of the ads. I myself am an Infiniti G35 owner and am VERY well researched when it comes to that one. Right now, this car is looking to be a piece of cake to make a deal compared to my G. Now, I just need them to come up on the trade-in we are bringing Out of curiosity...do you think that there might still be room to get them down on the cap cost? Thanks for your help.
i don't know about dropping the cap cost. honestly, i didn't even know about the $5k incentive until you brought it up. But what is the invoice on the car mentioned above? I would say if you are more than $100 over invoice, then yes, you probably have room. Anything less than that is just icing.
'11 GMC Sierra 1500; '98 Alfa 156 2.0TS; '08 Maser QP; '67 Coronet R/T; '13 Fiat 500c; '20 S90 T6; '22 MB Sprinter 2500 4x4 diesel; '97 Suzuki R Wagon; '96 Opel Astra; '11 Mini Cooper S
when you say $100 over invoice are you talking about BEFORE incentives? Because right now with the incentives, it's definitely below invoice by quite a bit. Right now the current invoice on this configuration is $26717 and the cap cost is $21323. There is also Lojack on the option sheet and it's listed at $695, but the cap cost and MSRP was not increased. So it appears to be about $5400 below invoice with free Lojack.
Does anyone have an idea of the difference in residuals between an S40 2.4 or an S40 T5? I received a quote for a T5 that was quite a bit below the 2.4 and I'm trying to estimate the finance numbers while waiting for a response from the dealer (They just gave me a configuration and a monthly payment...no specifics).
I thought that I had already received a really good quote for a 2.4 w/ Auto, Select, Sirius, and Lojack from another dealer, but all things being equal, if I can get the T5 with auto and premium for a bit less and have to lose lojack and sirius, it seems worth it right?
Ok...here is my current quote for a T5 with Premium. I have a couple of options as a couple of dealers have the same basic car just with different colors.
The other T5 deal is for one with a metalic paint job, but the monthly payment is within a couple bucks.
I'm heading to the dealer to look at the black one tonight and hopefully they will just come down a bit to account for the 475 difference in the two cars. Seems like a decent price for this car.
My the lease on my 2004 S40 ends this month and I'm in the market for a new car. I've really had to push to get the sales person to give me the money factor and and he is either great at pretending to not understand financing, or he really doesn't, but either way his wishy washy attitude on giving me all the numbers in 1 clear concise conversation leaves me feeling unsure of if I am getting a good deal or not with him. How do the following quotes seem to you? Is there room for a better deal here?
I've been given quotes for leasing an S40 2.4i with the select package for 3 years:
MSRP: $29,535 Residual: $13291 Money factor: .00237 12k miles a year $950 due at signing includes 1st month payment, tax, tag, and title
S60 2.5T with premium package 48 month lease $359 a month MSRP: $36,830 Residual: $24,000 Money Factor: .00215 12k miles a year $1,000 due at signing includes 1st month payment, tax, tag, and title
I'm looking at S40s right now, too. Based on what I've been reading in these posts and the fact that I was quoted the price $26k for a completely loaded 2.4i , there is definately room to have a few thousand knocked off of that price or at least bump up to a T5.
Comments
I don't know if you would find a better deal with a lease by going elsewhere, but when I was purchasing the folks I went to were looking to close the deal because it was nearing end of month for them. If you're interested, I can give you the info for the salespeople I dealt with up there. I have no regrets going there, I just don't see how my local dealers couldn't have been more competitive. I also didn't appreciate being called a liar.
If you are interested in the contact information for the dealer I used, send me an email at volvos40.5.bigdummy@spamgourmet.com.
Good luck.
Thanks,
Alex
36 Months, 15k per year
MSRP 34375
Lease Support $6500
MF .00207
45 % Residual
$2086 Down (New York State, Westchester County, lots of fees, bank fee, etc.)
Monthly Payment $374.
Any comments?
I'm very happy that the selling price this lease is based on is approx $9500 off msrp, and there are no hidden fees or BS. The tax (it is what it is) and bank fees (set by US Bank, non neg) plus just $45 doc fee, NY $10 tire fee etc.
$377 a month for an S40 AWD, Auto, Premium, Climate, Audio, Sirius seems to me like an excellent deal. I do like the volvo more than the A4 which seems to be it's competitor and i don't think you can get an a4 quattro with all that stuff for this price.
S40 2.4i
Metallic w/ T-tec
Automatic
Select Package
Climate Package
$234/mo.
$1995 down
$845 Bank Fee
$501 Document Fees, Tags, Title, etc.
8.375% Sales Tax for NYC
Passion Red
Automatic
Climate Package
Select Package
Bluetooth Handsfree Kit
$230/month
$1000 down
36 Months, 12k miles a year
We are picking up the car next week! It's a moot point now, but how did I do? For the money it seems like an incredible deal!
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2007 S40 T5 AWD. Manual, Premium, Climate, Audio packages
MSRP - $34,000
CAP - $26,000 + $895 destination charge
Residual - 44%
$ Factor - .00209
8% tax and ~$500 DMV, transport fees
12K/year
$2000 OTD and $410/36mos.
???
Does your monthly payment include taxes? Just a few weeks ago, i negotiated "more" care for less money than you were quoted. Mine also had 15k, metallic paint, geartronic and sirius which should add around $1700 to the msrp. Similar residual and mf. A little over $2k OTD but that included the taxes and i got $377 / 36 months. So in comparison, i think you could do better.
Today I went into Rickenbaugh Volvo in Denver, CO which is 1 mile from my house and was pleasantly surprised! I hinted at already shopping at their competitor and they barely bet them by $10 a month, but when I stood up to leave they came back with this deal that I signed and drove off the lot!
S40 T5 AWD Manual
Metallic Blue Premium and Climate package + Premium sound and Sirius, keyless.
$370.69/month including taxes for 35 months
$2316.85 down
$34825 MSRP
$25861 Adjusted CAP
$14975 Residual
12k miles/year
Our salesperson said there was no difference between manual and automatics residual value and that basically denver had the same lease incentives as NJ or anywhere else. Over all it was such a positive experience having told them about the deals people were getting on this website! They were willing to match it because I did my homework and wasn't going to be satisfied until I got my price.
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I am interested in a 36-month, 10K/yr lease on an S40 2.4i automatic with the select package. The MSRP for this setup is $27,465. What money factor and residual should I be using? I live in the Philadelphia area. Thanks.
Thanks!
I am going to Lease a 2007 Volvo S40 here in Atlanta (6% tax).
Here are the numbers I got. Are they good or bad?
Here you go:
Option 1: S40 (Auto, Leather, Pwr Driver Seat, metallic silver) sticker around $27,600:
$0 Down, $380 a month (tax included), 36 month lease/ 12,000 miles OR
$1,000 Down, $350 a month (tax included), 36 month lease/12,000 miles
Option 2: S40 (Auto, T-Tec, sunrf) Sticker around $29,000
$1500 Down, $379 a month (tax included), 36 month lease/ 12,000 miles
$1000 Down, $395 a month (tax included), 36 month lease/ 12,000 miles
JUST GOT OFFERED:
S40 (Auto, sunroof, Silver w/ tan leather)
$0 Down, $399 a month (tax included), 36 month lease/ 12,000 miles
From what I can tell, this is a fantastic price. What do you think?
Volvo s40 2.4i with value package including leather seats
$359 + tax/month for 36 months 12K miles
Thoughts?
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According to the latest information that I have seen, Volvo Finance's buy rate lease money factor and residual value for a 36 month lease of an '07 S40 2.4i with 15,000 miles per year are .00147 and 49%, respectively. The numbers for an otherwise identical lease of an '07 S60 2.5T are .00017 and 42%. When negotiating your lease on these cars, make sure to take the $500 lease cash that Volvo is currently providing on the '07 S40 and $3,500 lease cash that it is providing on the S60 into account.
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Do you know how the residual changes if I go to a 12k/year or 10k/year lease? Also do you happen to know the rates for a 39 and 48 month term? Thanks for all your help.
Volvo Finance's 39 month, 15k numbers for the '07 S60 2.5T are .00172 and an unbelievably low 37%. Its 48 month numbers are .00172 and 35%.
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MSRP: $34.5K
Lease Incentive: $5K (the nos. below are after the incentive)
Down pymt: $7K
Residual: 24mos = $19K or 36mos = $15.5K
Money Factor: 24mos = .00488 or 36mos = $.00315
Pymt: 24mos = $410/mo. or 36mos = $350/mo
Taxes: No tax state
Many thanks for your input.
Also...what is the selling price of the car? That is very important to calculating the lease. And post the sell price before and after any incentives
Lease = $34.5 minus the $5K lease incentive
S40 not recommended by Consumers Reports ... surprising .. as consumers seem to like the car.
Many thanks for your time / input.
Let's see... $34.5k msrp, right? Now, I'm not going to look it up, but I'm going to assume a $32k invoice. You should be getting the incentive off invoice or near it. So let's say you are generous and go with $500 over invoice. That's $32,500. Knock off the $5k incentive and that leaves $27,500.
You put down $7k and have a $19k residual ... that only leaves $1500 to pay off over 24 months. So how in the heck does that equate to a $410 payment???
The money factors quoted to you are absolutely ridiculous, but they still wouldn't bump the payment THAT much! Heck, even if you paid full MSRP, we're still talking only $3500. Add in fees and overcharges or whatever and round it up to $5k and that's STILL just a bit over $200/mo. So I don't get it.
Are you sure someone isn't mistaking that $7k for $2k???
'11 GMC Sierra 1500; '98 Alfa 156 2.0TS; '08 Maser QP; '67 Coronet R/T; '13 Fiat 500c; '20 S90 T6; '22 MB Sprinter 2500 4x4 diesel; '97 Suzuki R Wagon; '96 Opel Astra; '11 Mini Cooper S
Dealer said for lease: you take the MSPR minus the $5K to get the baseline (so essentially $34.5K - $5K = $29.5K and work from that point). Then for buy outright or finance it was MSRP minus $2K or $32.5K...
Guess it just depends on where the Dealer starts the baseline. Yes the money factor looks like 2x what I have seen ... crazy. Maybe I will try another Volvo dealer in town to compare.
I'll ask about the $7K vs $2K ... amazing they are that far off ...
Many thanks for your time and input.
2.4i
Auto
Select
Sirius
lojack (not included in MSRP)
MSRP $28455
Selling price $21323
$595 Bank Fee
Gross Cap cost $21918
Residual 12235.65 (43%)
MF - .0024
36mo. / 15k miles
Monthly payment 350.94
Tax 28.95
Total $379.89/mo.
Total due at signing $639.35 (includes 1st, reg, and doc fee)
How does that sound...to me it looks pretty good since it's so far under invoice with the leasing incentives. And the residual is low enough to consider buying at the end of the lease.
We can get a pretty decent 7 year loan for like 6.25%, but it seems to me that to lease it for 3 years and then potentially buy it out on a new 3-4 year loan would still be cheaper. And in case the car isn't worth keeping, we get out of it in 3 years. Thoughts?
what you have now is pretty much in line with what leasecompare is showing, so it looks good.
by the way, financing a car for 7 years is nuts. Granted, 6.25% on a 7-year note is pretty darn good, but would you really want to be making payments on a car after 6 years and 90k miles? I've come to the realization that if I can't pay off a car in 5 years, then I can't afford it.
In any case, thanks to the lease incentives on volvos, it is far better to lease, then buy it out.
'11 GMC Sierra 1500; '98 Alfa 156 2.0TS; '08 Maser QP; '67 Coronet R/T; '13 Fiat 500c; '20 S90 T6; '22 MB Sprinter 2500 4x4 diesel; '97 Suzuki R Wagon; '96 Opel Astra; '11 Mini Cooper S
'11 GMC Sierra 1500; '98 Alfa 156 2.0TS; '08 Maser QP; '67 Coronet R/T; '13 Fiat 500c; '20 S90 T6; '22 MB Sprinter 2500 4x4 diesel; '97 Suzuki R Wagon; '96 Opel Astra; '11 Mini Cooper S
'11 GMC Sierra 1500; '98 Alfa 156 2.0TS; '08 Maser QP; '67 Coronet R/T; '13 Fiat 500c; '20 S90 T6; '22 MB Sprinter 2500 4x4 diesel; '97 Suzuki R Wagon; '96 Opel Astra; '11 Mini Cooper S
I thought that I had already received a really good quote for a 2.4 w/ Auto, Select, Sirius, and Lojack from another dealer, but all things being equal, if I can get the T5 with auto and premium for a bit less and have to lose lojack and sirius, it seems worth it right?
T5 Black/Black
w/ Premium
MSRP 31435
Selling price 21533
bank fee 595
adjusted Cap Cost: 22128
residual $13202
36/15k
tax 8.25%
Monthly Payment incl. tax 353/mo.
Upfront cost $615 (1st month, upfront tax, doc fee, registration)
The other T5 deal is for one with a metalic paint job, but the monthly payment is within a couple bucks.
I'm heading to the dealer to look at the black one tonight and hopefully they will just come down a bit to account for the 475 difference in the two cars. Seems like a decent price for this car.
My the lease on my 2004 S40 ends this month and I'm in the market for a new car. I've really had to push to get the sales person to give me the money factor and and he is either great at pretending to not understand financing, or he really doesn't, but either way his wishy washy attitude on giving me all the numbers in 1 clear concise conversation leaves me feeling unsure of if I am getting a good deal or not with him. How do the following quotes seem to you? Is there room for a better deal here?
I've been given quotes for leasing an S40 2.4i with the select package for 3 years:
MSRP: $29,535
Residual: $13291
Money factor: .00237
12k miles a year
$950 due at signing includes 1st month payment, tax, tag, and title
S60 2.5T with premium package 48 month lease $359 a month
MSRP: $36,830
Residual: $24,000
Money Factor: .00215
12k miles a year
$1,000 due at signing includes 1st month payment, tax, tag, and title
Thanks for your advice!