Car Buying Advice - 2017 Volvo S90 Lease - What do you think?

mobaijou

Brand new here (but been following all the advice on here to figure out my leasing!)
Is this a good deal? Car's a new 2017 t6 Momentum with plus, vision & convenience.

Lease at an MD dealership but the car will live in VA.
Background: Almost up with a lease on a 2013 Infiniti g37x. Only have a payment of $124.39 left to make for full maturity on the lease. (plus all the standard end of lease costs).
Currently pushing for the 5000 cash to be inclusive of tax/title/tags etc.
Also looking for thoughts on how I could incorporate pull-ahead discounts given my current lease situation?
Thank you!

kyfdx

mobaijou said:

Brand new here (but been following all the advice on here to figure out my leasing!)
Is this a good deal? Car's a new 2017 t6 Momentum with plus, vision & convenience.

Lease at an MD dealership but the car will live in VA.
Background: Almost up with a lease on a 2013 Infiniti g37x. Only have a payment of $124.39 left to make for full maturity on the lease. (plus all the standard end of lease costs).
Currently pushing for the 5000 cash to be inclusive of tax/title/tags etc.
Also looking for thoughts on how I could incorporate pull-ahead discounts given my current lease situation?
Thank you!

.00028 MF and 51% residual
$7700 of incentives on this model.

Your document is cutoff. What payment did they quote?

I show $586/mo. with the $5000 upfront, but your document doesn't appear to show the $695 acquisition fee, so it makes me wonder if that price on the left is for purchase or lease?

mobaijou

The payment is on the right table in the sheet. It's 487 a month with the 5k upfront. I noticed the missing acquisition fee too and I've asked about it so will add that info when I get it.

kyfdx

mobaijou said:

The payment is on the right table in the sheet. It's 487 a month with the 5k upfront. I noticed the missing acquisition fee too and I've asked about it so will add that info when I get it.

Ahh... duh.

Let me start over. Now, that I've had another cup of coffee.

Let's assume the $5000 covers the first payment and the acquisition fee ($695, but we'll guess they've marked it up to $995).
That leaves $3300 for CAP reduction.

Now, I get $494/mo. Not far off their quote. (maybe they aren't marking up the acquisition fee)

Of course, there is no reason to put $5000 upfront. The finance charges are minimal. With $1000 upfront, the payment would be around $606/mo.

mobaijou

@kyfdx Found out more info from the dealer - acq fee is 995 (seems like that's a trend based on other forums I've read... I was expecting 695 given the doc fee too). That cost was rolled into the monthly calculations and the 5000 doesn't include the first payment. Seems like that makes the deal worse than on first glance right?

kyfdx

mobaijou said:

@kyfdx Found out more info from the dealer - acq fee is 995 (seems like that's a trend based on other forums I've read... I was expecting 695 given the doc fee too). That cost was rolled into the monthly calculations and the 5000 doesn't include the first payment. Seems like that makes the deal worse than on first glance right?

Doesn't matter if the acquisition fee comes out of the $5000, or if it's added into the CAP cost, as the latter would make the CAP cost reduction larger from the $5000.

If it's $5000 upfront, it's $5000 upfront, no matter how they add and subtract.

It's not a bad deal for a $58K MSRP vehicle.. I just wouldn't structure it with all that money upfront.