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2013 and earlier Volvo XC90 Lease Questions

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Comments

  • An m.f. of .00252 is absolutely NOT competitive. I leased my XC90 this time of year when the '07's were released and received a .00077 m.f. for a new model. That is what swung my decision in favor of hte Volvo over the Mercedes, Audi, BMW, and Acura.
  • Wow, that is an amazing m.f. for the Highlander. Probably better mileage, too. I do like the Volvo's safety though.

    Okay, call me dense but I cannot figure out the part about Hoboken and an Odyssey? It's also 3am so that might be an issue too ;)

    Anyone know if Volvo changed their tune this month with m.f. or anything else to motivate us?

    Cheers!
  • jk764jk764 Posts: 17
    Yeah - it doesn't make much sense ... basically don't want to be seen by the 20 something year olds driving away in a minivan. minivans just aren't "cool." yes that is stupid and vain but apparently my wife came to the same conclusion.

    I'll let you know Saturday whether I get the Highlander or Volvo. Right now, Highlander deal is no money down 36 mths, 12k/yr zero down $640/mth. I hope to get it down under 600 for a fully loaded limited 7psgr awd.

    Current volvo deal i am getting is same as another post: 39mths / 39k miles 1950 down and $555 / mth. For a V8 w/ climate and blis. Going to try to get dvd thrown in to mix.

    All depends on which car my wife likes better.
  • let us know what you end up with! i'd be very curious if they throw in the dvd - i tried, but to no avail.

    i still think you could potentially go lower? which dealership is giving you that deal?

    good luck. as to the minivan issue, i totally understand. but i think we are just delaying the inevitable, eh? ;)
  • Thanks guys... I totally agree with you on the minivan thing. I'm vain too and pretty much that's why I am still on the fence and visiting the Highlander and Volvo boards! They are not cool at all but I do have twin toddlers and dang it if that sliding door would be handy during a downpour and/or when trying to wrangle them into the car from a busy parking lot. But still... I have yet to pull the trigger. The 3 yr lease is optimal so that I'm only stuck driving the land yacht for not terribly long (depending on who you talk to!).

    What's with the Volvos? Their deals don't seem too fabulous. My guy said they'd get better later this year with m.f. and certainly then residuals but I'm not sure he even knows - just a guess.

    jk - what does the volvo lease do w/zero down? Is it comparable to the Highlander? My money's on your wife liking the Volvo for the status and because the Highlander looks more truck-ish. Just my 2 cents ;)

    Let us know what you do and good luck!

    Marinite
    ps - I have no help here because my husband would drive his old Tercel (!) if he still had it. Sigh.
  • jk764jk764 Posts: 17
    Well -- after a looong day, we drove home with the Volvo. Experience at Toyota was awful from the moment we stepped into the dealership - from waiting around to the salesman -- despite making an appt for a test drive of a limited of which they had none of on the lot!!! And neither of us liked the Highlander - either the drive or the look. The inside of the Highlander is very plastic and bulky looking (best I can describe it - you are totally right marinite). Volvo is much more enjoyable to drive and inside has a great feel.

    No one was willing to do the 39mth/39k lease for $1950 down and $555/mth. At 36 months/36k lease was coming out at $3800 and $555 / mth for the 2008 XC90 V8 w/ climate and blis. Dealer supposedly losing $500 with those numbers but willing to do the deal to move the car. So after negotiating this is what we got:

    2008 XC90 V8 with climate / blis / rear ent. system (at dealer cost - $1547) / cross rails ($175) for 48 months - $3600 down (includes all costs & first payment) and $559/month. Residual is around $14,000 (35%). Cost of the car was $37,050 (w/ taxes etc). MSRP is $52k.

    Not a great deal but in the end I'm ok with it. I was willing to leave and go to another dealer but my wife - who is 5 mths pregnant was just like "oh let's take it." I was like "you're killing me here." In retrospect I should have gotten the cost of the car down to $35k. Damn it.

    What kills is that there is no residual on the rear ent. system. So basically, I am going to remove the head rests when I turn it in 4 years because they will be mine. Or I'll just buy the car.

    Also re: minivan - friends just bought a 2008 Odyssey Touring (all bells & whistles). I drove that and definitely didn't like the way it handled.

    If anyone is in NJ, I found out after had leaseed from a different Volvo dealer that Montclair Volvo is going out of business and that they are having a fire sale. So go there first.

    Cheers.
  • jk764jk764 Posts: 17
    Oh yeah - and MF = .00180
  • kudos. sounds like a good deal and more importantly you sound happy with your choice. i just hope you were able to drive it home safely in all this rain!
  • Congrats jk on your purchase - it is one of the safest on the market and with a baby on the way, it's a good choice safety-wise and ergonomically speaking, too. I have a Volvo sedan and Subaru Outback and they're both too low to get the babies in the car without killing my back. With the XC90, putting the baby in the car will be a lateral move - sounds silly but try doing this several times a day and you'll appreciate that about the car!

    Yep, I suspected that about the Highlander. Plus, I can't recall what the iihs safety ratings on it were but I do know that while the Sienna says it's top-rated, what they don't say is that is has the worst rear crash rating! Wouldn't be surprised if Highlander did too. And yes, all minivans tend to drive like that - land yachts really - another ugh factor.

    Thanks for sharing your numbers and mf, too. That's a decent deal for a $52k car!

    Enjoy :)

    Marinite
  • jk764jk764 Posts: 17
    Thanks!

    funny ... we returned our '05 outback for the xc90. similar taste in cars i suppose. definitely agree that it is tough to get a kid in and out of that car.

    good luck w/ your choice. our 2 year old is obsessed w/ the volvo. when we drove to grandma's she ran out and was like "my car!" she calls it a bus b/c of the rear 2 seats. can't seem to get her out of it - esp. when the middle seat is down and she can roam from front to back (when parked of course). must be the new car smell or leather seats ...
  • Wow, that is funny about the Outback/Volvo/Highlander similarity. Yep, try getting twins out - every single time I drive it, I get annoyed. Time for something new!

    Love that the 2y.o. is obsessed. Mine are 2 too and would likely do the same - especially if we got the dvd! ? for you since I haven't looked at the xc90 for a few months in person... when the middle seat goes down, is it to the floor? That was my biggest complaint about the 3rd row - with 2 giant Britax carseats in the middle, there's no utilizing the 3rd row w/out removing a carseat - so not functional. Maybe I'm wrong?

    Cheers!
  • jk764jk764 Posts: 17
    Good ? -- unfortunately the middle seat doesn't fold down to the floor - so it is difficult to get back there. However, we have a pretty big car seat (some kind of Graco) and the middle seat folds down w/out a problem when the car seat is in place.

    If you are looking to use the 3rd row a lot for passengers, minivan is probably best bet as it is at least 10 inches longer than the xc90 and easy to access even if you have 2 car seats in the middle row. good luck.
  • Car Man -

    Can you please tell me the MF and Residual #'s for a 2008 Volvo 3.2 7-Passenger AWD XC-90 on a 36-month, 15K lease?
  • Thanks jk! Good to know you can at least access the back even by hurdling. That didn't seem to be an option when I first saw them.

    Enjoy your new ride and the relative calm before the new baby arrives!
    Marinite
  • peetertpeetert Posts: 124
    --Montclair Volvo is going out of business-- :confuse:

    Really? We've been been repeat customers there until just last month. We were looking for a used XC90 but all the ones they had were a bit overpriced and they would not come down enough in price. I had offered what I felt was a fair price based on information gathered here, but they would not budge. We ended up buying a CPO MDX from the DCH Acura store down the road. Ironically, I just looked at the website and still saw the exact XC90 we were haggling over listed for almost what I had offered them originally.

    We still have our S70 that is my daily driver, but it'll still be a few years before we are ready to replace that. I guess then I'll have to look elsewhere.

    Peeter
  • Last Friday I returned our Leased '07 XC90 3.2 AWD. I was happy with the Sales guys I worked with and the Dealer (Powell Volvo - Scottsdale) was fine overall. We were discussing the current state of SUV sales, pricing, MF, etc. and their current MF was very competitive at something like 0.0001 but the Residuals were Horrendous at 49% for 24 months!!! Why would anyone want to a new ~ $50k vehicle when it's value drops in half in 2 years? Much better to just buy a slightly used one, which is which we did - we bought an X3 with 20k miles and still have a full year of warranty. It's not as big as the XC90 but we didn't need the extra room as we only have 1 kid. My wife loved the XC90 styling since she laid eyes on it but after driving the X3 for the first time she is can't believe the difference, it truly is night and day. Not sure what we'll do when we need a bigger vehicle but for now the X3 will work out perfect for her. I was never a fan of the X3 styling but it really drives great - the steering, handling and engine are very good.
  • stimstim Posts: 36
    Did he actually quote a .0001 MF with a 49% residual? Actually thats not bad considering that I recently got a quote of 46% residual with a .0202 MF on a V8 - 2008 version. Walked away because the rate was so high. Was this a Volvo Finance deal?
  • He opened up his book of current deals and when we looked at the MF we thought "wait a minute ... that's pretty good" but then the residual was 49% and it made sense on why the payments wouldn't match what I had 2 yrs ago.

    Yes, it was Volvo Financial, I think he made a comment that they were the only ones willing to write leases on the XC90's right now because everyone is losing money on them. I was told my return is going straight to Volvo Financial because they can't sell it for a profit on their lot. If you have the time, contact their internet departement. That's who I went through when I negotiated my deal and was very happy dealing with them because they were straight shooters.
  • ... BTW, I'm on their mailing list and just recieved one stating that all 2008 Volvos are going for Invoice minus Volvo incentives. Sounds like they REALLY want them gone!
  • Just leased a 2008 XC90 3.2 with 7 passenger / blis / 48 months/48k miles - $2000 down (includes all costs & first payment) and $441/month. Residual is $12,948 MSRP was $45k. I hope I got a good deal.....especially because after driving a 2004 Cadillac SRX for three years, I really dont like my new volvo AT ALL! Seats seem hard and uncomfortable, car seems sluggish compared to the caddy, and I miss many of the little features my cadillac had. Who ever heard of a $45000 car that doesnt "beep" when you lock the doors with the remote? Guess it's a bad decision I will have to live with for the next 47 months!! :(
  • zamozamo Posts: 122
    You are going to get used to it and gonna love it. I hate that beep from other cars. Need to be low profile. Volvo is safety, nuff said.
  • It has a lot of nice little cubby holes in front & rear that is convenient; my wife liked the "user-friendliness" of the design but like you - she did not like the seats!
  • stimstim Posts: 36
    You will love the seats on a long drive - driven 10 or 11 hours straight with no fatigue whatsoever. Wish they were a little more supportive on the sides and the cushion could be a little firmer on the seat as you tend to sink a little bit too much. Try driving a Mercedes for the same time and distance and you'll really know what uncomfortable really is. Seats are really way too firm and the leather doesn't give.

    What was the cap cost on your volvo and what was the money factor?
  • The cap cost was 30k and the money factor .00190. Financing through US Bank.

    Only had the car two days, so I am hopeful that I will get used to it!! :)
  • Cap cost was really $30k?? Wow.

    I'd love to know what the $2000 down/fees were. That seems high but only in comparison to Honda - which really, is no comparison.

    Congrats and I hope you like it - if not, I might be interested in assuming your lease - that's a good deal.

    Cheers,
    Marinite
  • We've never leased a vehicle before so this was new to us. Are you saying you think we got a good or bad deal, Marinite?? Here's the numbers as I recall them
    MSRP 45350
    Cost after incentives, discounts, etc. 30000 (This is the cap cost right?)
    Residual 12698
    mf .00190
    Payment $441
    The $2000 included title, regist, dealer fee and first months payment.
    This was $100 less per month than the local dealer. We ended up traveling 35 minutes noroth to get this deal. The local dealer said he couldn't/wouldn't match the price, which often seems to be the case Naples!!

    I'll give the car a fair chance, but if I cant find a comforatble setting for the seat and steering wheel, I may take you up on your offer to assume the lease!! :)
  • We took a few 5-6 hour trips and one long 10-12 hr trip. I didn't have a problem with the seats except for the headrests which are not adjustable. They angle uncomfortably forward - which is purely a safety design - which I wish was adjustable.
  • Good deal, I personally think!

    I was just curious about the $2000 which sounded high but not when I see what it covers. I think the only difference between the Honda Odyssey cost/fee is the dealer fee - any idea how much that charge was? Not that the van compares AT ALL to the Volvo! The van is not.cool.whatsoever. ...but we have twins and it's super easy for loading them.

    Yes, let me know if you still can't stand the seats - they are something to get used to. I have a Volvo sedan now myself. I find that putting the seat bottom flat and getting lots of lumbar support is key - also I put the steering wheel close to my leg so my arms aren't reaching too high. Also helps so you don't notice the headrests which are huge if you really look at them. Part of the big safety package. Hope any of these ideas help.

    Marinite
    ps - I'm in NoCal but hey, could meet you in Texas ;) if you really, really need an assumption and I haven't used some of your numbers to score an amazing lease deal, too!
  • HI ellisn03. It is difficult for me to tell how good a deal this is without knowing either this truck's MSRP or its dealer invoice price. These numbers will show me how much of a discount or how much over invoice you are paying for this vehicle. Plus it will enable me to use Volvo Finance's current lease program to work up a monthly payment to compare to the one that you mentioned. Let me know what this number is and I'll tell you what I think. You can look up the MSRP and invoice price for this model right here at Edmunds.com by visiting the New Vehicle Pricing section of this site.

    Car_man
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  • Hi dt78. The size of the discount that you will be able to negotiate on the XC90 that you are interested in will depend upon whether you are leasing it through Volvo Finance or through an independent bank. If you lease is through a bank other than Volvo Finance then you probably will be able to come close to the sort of massive discount that you mentioned because Volvo is currently providing a $6,750 cash incentive on leases of base'08 XC90 models through independent banks.

    If you opt to go with Volvo Finance's lease program, which has much better money factors and residuals than independent banks would, then the cash incentive is reduced to $2,000.

    Car_man
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  • stimstim Posts: 36
    What are the current incentives on 2008 V8's? How are the residuals (know they are bad just how bad) and MF's either through VF or independents?
  • Hi jk764. I'm sorry to hear about your rough Toyota experience, but at least everything worked out well and you got a new Volvo from a decent dealer. If you'd like, you can share your recent dealer experiences with everyone by hopping on over to the Dealer Ratings & Reviews section of Edmunds.com. Thanks and enjoy your new XC90 :shades: .

    Car_man
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  • Just curious Car_man.....will my experience turning the car in at the end of the lease be different leasing with a bank vs Volvo finance? By that, I mean , will Volvo finance be less "picky" about nickel and diming us for wear and tear on the vehicle? The Finance Manager tried to scare me into adding insurance of $16 per month to my payment to cover "normal wear and tear". He said that the bank would scrutinize the car and that I could end up owing thousands at the end. Having never leased before, I was concerend, but said no in the end. :confuse:
  • Here's the information that you're looking for, dannyfreed. Volvo Finance's current buy rate lease money factor and residual value for a 36 month lease of a 2008 Volvo XC90 3.2 7-Passenger AWD with 15,000 miles per year are .00041 and 42%, respectively. When negotiating your lease on this vehicle, make sure to take the $2,000 cash incentive that Volvo is currently providing on leases of it through Volvo Finance into account.

    Car_man
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  • Good morning stim. Volvo Finance's lease program 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 2008 XC90 V8 with 15,000 miles per year are an amazingly low .00001 and 43%, respectively. Volvo is currently providing a $2,000 cash incentive on '08 XC90s that are leased through Volvo Finance.

    I don't know what the money factors and residual values for this truck would be for leases through independent banks, but if you lease through a bank other than Volvo Finance, Volvo is providing an unbelievable $10,000 cash incentive on this model right now.

    Car_man
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  • Hi floridamom1. It very well could be. Some independent banks are good, while others not so much. I have heard terrible things about Hahn Financial but I suspect that Chase probably isn't too bad.

    If you are worried about absurd excess wear and tear charges, Volvo Finance is probably the safest way to lease because it is in its best interest to keep you as a happy customer. Nickeling and diming lessees to death would be pretty foolish for them because it would anger lessees and possibly cost its parent company future business.

    Car_man
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  • stimstim Posts: 36
    Not too bad on the V8 - much better this month. Would prefer a 24 month 10.5 per year lease if its more advantageous on payments. Whats the difference on the 09's. Thanks numbers aren't that bad considering - just have to find one - stock is very thin.
  • Hey stim. Volvo Finance's numbers for a 24 month, 10,500 mile per year lease of an '08 XC90 V8 are .00001 and 52%, respectively. Volvo does not appear to be providing any lease support on the '09 XC90 V8. The only 2009 XC90 that has a special Volvo Finance program available on it is the base V6 model.

    Car_man
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  • You're in an XC90 for $441/mo? That's not bad at all. Esp if you managed to get your total cost to $30,000. That's incredible. I don't know where they were getting the money from honestly. If your MSRP was $45,350 that means somehow they ended up giving you $15,350 off the price. Was there a trade in used to get to that number? (I haven't read the whole thread) Either way it looks like you got a great deal. I would recommend fiddling with the steering wheel (for some reason the height/distance from the steering wheel can make the seats more or less comfy) and the seat at the same time to get comfortable in it. They're quirky sometimes to sit in, but once you get it to that right position, you'll love it. Enjoy!
  • No, fadetobloackii, no trade was involved, but we did put $2000 down at signing, which included title, registration, bank fees, dealer fees (which I think was around $1000) and first month's payment.

    I have finally found a comfortable position for the seat and steering wheel! I think that I had the steering wheel too high and I felt like I was driving a bus!!! I dont know if I will ever get used to the headrest, but it makes it a little more tolerable knowing we got a pretty good deal. :D
  • I was confused by the last statement you made in the below post regarding a $10k cash incentive on the xc90??? Is this something that can be used for financing vs leasing? I got a quote on an '08 XC90 3.2 7 Passenger AWD w/versatility, climate & premium of $37.8 Sticker at $45.2 - I am actually in the market to purchase 2 (same car - one may have navigation) and was hoping the dealer could go lower considering the '09's are out now. What are your thoughts? Any help would be appreciated! Thanks!

    Replying to: stim (Sep 19, 2008 4:25 am)
    Good morning stim. Volvo Finance's lease program 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 2008 XC90 V8 with 15,000 miles per year are an amazingly low .00001 and 43%, respectively. Volvo is currently providing a $2,000 cash incentive on '08 XC90s that are leased through Volvo Finance.

    I don't know what the money factors and residual values for this truck would be for leases through independent banks, but if you lease through a bank other than Volvo Finance, Volvo is providing an unbelievable $10,000 cash incentive on this model right now.

    Car_man
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    * Replies to this message: stim (Sep 19, 2008 4:52 am)
    o Car_man (Sep 19, 2008 5:02 am)
  • stimstim Posts: 36
    Through Volvo Finance - you can't take the incentive dollars they basically use that incentive to subsidize the lease with a higher residual and lower interest rate. You get the 10K or more as an incentive which takes into account some depreciation, BUT and its a pretty big BUT the residuals through anyone other than VC are ridiculously or realistically (depending on how you look at it) low. For the 08's they are in the mid thirties for a 08 V8 and only 48% for a 09. The MF is about .00202 which translates to 4.8%. Seems ok until you calculate the lease.

    Last weekend looked at Lexus, Mercedes and Volvos. No V8's on two of the local dealer's lots and I'm only interested in a V8. Lexus rates are VERY high something like 750 for a three year lease on a RX330 and about 725 for a 08 GX470 - two grand down.

    Mercedes offered the best deal so for. ML with Premium 1 and heated front seats the total price is about 595 monthly with 2K down for 36 months. MB seems to be subing some of the lease as the car lists for 52K.

    Overall, the leasing situation is pretty bad considering numbers from two years ago and even last year were significantly better. No real incentives and no padded residuals. You think taking 10K of list is a good deal - not really since the car as of the 15th has now become a 1 year old car as the 09's are on the lots and stacking up at the port - so the 10K is really depreciation off list. From an accounting standpoint they still are making money on the car - just writing the depreciation off the books for the year. Not providing that in a Volvo Finance lease deal and working off the list on a 08 isn't giving you anything.
  • Car Man,
    If I purchase a 2008 Volvo XC90 8cyl. Sport, can I still get the $10,000 factory rebate, or is it only available on a lease? If so, is this deal only available through 9/30/08? What are the best deals on purchases that are available now? Can I purchase the car for at or below dealer invoice, plus the $10,000 rebate? Thanks for your help.
  • volvomaxvolvomax Posts: 5,274
    That incentive is lease only.
  • For the group, I've done major research on the XC90 v8 Sport deals, although I presume that some of these terms would apply to other XC90s as well. Lease rebate from Volvo is at $12,000 and purchase rebate from Volvo is at $4,250. Dealers seem willing to quickly sell for $2,000 over invoice, although I suppose there is still some room for negotiation. The best available money factor on this car is through US Bank (assuming you take the $12,000 rebate, which is only available with 3rd party leasing companies), which is at .00253. The residual is very low (36% of MSRP), so that even though a car with $55,000 MSRP can be bought with a cap cost of around $40,000, with the MF and low residual, the monthly payment is in the mid 700s without tax. Some dealers are offering lease deals in the high 600s, but those are only for cars on their lots. At the end of the day, the rebates don't save too much, as they get you back on the lease terms. It's just an expensive car, but it sure does drive great. Hope this helps.
  • stimstim Posts: 36
    Second coopcar's research. Have been looking since the end of July. The supplies of V8's are almost nonexistent in the Midwest. The lease deals are terrible. Leasing is dying a slow death - for Suv's - you can still get deals on S80's but the manufacturers and banks are very nervous about writing leases where end lease values are uncertain. The only reasonable deal, if you want one is on Pathfinder, Acura MDX and the Infiniti QX56 (lots of inventory). On the QX56 they were willing to discount below 50 with a 60% residual and near 0% MF.

    Looked at Lexus and quickly walked away. MF was about 4.5% and they were only taking off 4K on a 08 GX. Payment in the 7's.

    I'm paying 349 for a two year V8 (52500$) Volvo XC90 - would have to double that to get the same car and terms today. Love it but the numbers are way too high. My dealer hinted that Nov/December will show the best deals but V8 are going to be almost nonexistent this year. May have to do a purchase with the rebates and keep the car for a period of time 5 years or more to get the most out of it. But with Volvo phasing out the XC90 in 2010 it may be a really bad financial decision if I want to sell it.
  • volvomaxvolvomax Posts: 5,274
    XC90 is not being phased out.The new XC90 will arrive in 2012.
    The XC60 is being introduced for the 2010 model yr.
  • qbrozenqbrozen Posts: 26,405
    But with Volvo phasing out the XC90 in 2010 it may be a really bad financial decision if I want to sell it.

    Phase out their best selling vehicle and biggest hit they've had in ... well forever? Who started that rumor?

    '10 Equinox LS; '08 Charger R/T Daytona; '67 Coronet R/T; '14 Town&Country Limited; '18 BMW X2. 49-car history and counting!

  • stimstim Posts: 36
    Found this, but I think it may be retracted on the cancellation:

    http://www.autoblog.com/2007/12/17/report-volvo-xc90-replacement-cancelled/2
  • qbrozenqbrozen Posts: 26,405
    I think they worded it poorly.
    If parts of the article were true, I believe it would only mean the replacement is put on hold, but they would continue building and selling the current XC90. Pretty much the same thing Ford has done with the F150.

    '10 Equinox LS; '08 Charger R/T Daytona; '67 Coronet R/T; '14 Town&Country Limited; '18 BMW X2. 49-car history and counting!

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