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Please evaluate my lease deal Volvo XC90

manub00788manub00788 Member Posts: 11
edited February 2020 in Volvo
Hi All,

This is the first time we are trying to lease any car at all and I would sincerely appreciate if you all can help evaluate the lease deal I got from our dealership.

This is the car I requested dealer to provide me a lease quote:

https://www.edmunds.com/volvo/xc90/2020/vin/YV4A22PLXL1580184/?paymenttype=lease&radius=10

I have attached the quote I got from them, essentially I am looking for 36 months/12K per year term. MF0.00167, RV %58($38,717.90). I would like to do $0 down but for now please look at the $3000 down (which is the min dealer provided).

Couple of questions:
1. How do I know if the RV and MF provided by dealer are good/fair?
2. As per edmunds link above the suggested MSRP is around $60K and dealer mentioned $66K, and later on provided some savings which reduced it to $61K, so should I ask dealer to match edmunds suggested MSRP of $60K and then deduct their discounts to go even further down? Or how should I even approach it.

This is completely new for us, we sincerely looking for guidance/help here.


Comments

  • MichaellMichaell ColoradoModerator Posts: 182,211

    Hi All,

    This is the first time we are trying to lease any car at all and I would sincerely appreciate if you all can help evaluate the lease deal I got from our dealership.

    This is the car I requested dealer to provide me a lease quote:

    https://www.edmunds.com/volvo/xc90/2020/vin/YV4A22PLXL1580184/?paymenttype=lease&radius=10

    I have attached the quote I got from them, essentially I am looking for 36 months/12K per year term. MF0.00167, RV %58($38,717.90). I would like to do $0 down but for now please look at the $3000 down (which is the min dealer provided).

    Couple of questions:
    1. How do I know if the RV and MF provided by dealer are good/fair?
    2. As per edmunds link above the suggested MSRP is around $60K and dealer mentioned $66K, and later on provided some savings which reduced it to $61K, so should I ask dealer to match edmunds suggested MSRP of $60K and then deduct their discounts to go even further down? Or how should I even approach it.

    This is completely new for us, we sincerely looking for guidance/help here.


    What is your ZIP code?

    Edmunds Lease Calculator
    Did you get a good deal? Be sure to come back and let us know! Post a pic of your new purchase or lease!


    MODERATOR

    2015 Subaru Outback 3.6R / 2014 MINI Countryman S ALL4

  • manub00788manub00788 Member Posts: 11
    my zip code is: 95111
  • MichaellMichaell ColoradoModerator Posts: 182,211
    Michaell said:

    Hi All,

    This is the first time we are trying to lease any car at all and I would sincerely appreciate if you all can help evaluate the lease deal I got from our dealership.

    This is the car I requested dealer to provide me a lease quote:

    https://www.edmunds.com/volvo/xc90/2020/vin/YV4A22PLXL1580184/?paymenttype=lease&radius=10

    I have attached the quote I got from them, essentially I am looking for 36 months/12K per year term. MF0.00167, RV %58($38,717.90). I would like to do $0 down but for now please look at the $3000 down (which is the min dealer provided).

    Couple of questions:
    1. How do I know if the RV and MF provided by dealer are good/fair?
    2. As per edmunds link above the suggested MSRP is around $60K and dealer mentioned $66K, and later on provided some savings which reduced it to $61K, so should I ask dealer to match edmunds suggested MSRP of $60K and then deduct their discounts to go even further down? Or how should I even approach it.

    This is completely new for us, we sincerely looking for guidance/help here.


    What is your ZIP code?

    my zip code is: 95111

    .00108 and 59%
    $3000 incentives

    The problem with the paperwork you've provided is that the prices are for purchase, not a lease. CA taxes the monthly payment on a lease, and those numbers don't include the $995 acquisition fee.

    Ask them to provide you with the lease specific worksheet.

    Regarding pricing, you can check here:
    https://www.edmunds.com/new-cars/

    Edmunds Lease Calculator
    Did you get a good deal? Be sure to come back and let us know! Post a pic of your new purchase or lease!


    MODERATOR

    2015 Subaru Outback 3.6R / 2014 MINI Countryman S ALL4

  • manub00788manub00788 Member Posts: 11
    Thank you @Michaell and I have seen this trend with most of the dealer providing numbers over the purchase worksheet. I'll surely ask them for lease specific worksheet. Also incentive is from manufacturer right? Dealer can still provide lower selling price on which I can further deduct $3000?
  • MichaellMichaell ColoradoModerator Posts: 182,211

    Thank you @Michaell and I have seen this trend with most of the dealer providing numbers over the purchase worksheet. I'll surely ask them for lease specific worksheet. Also incentive is from manufacturer right? Dealer can still provide lower selling price on which I can further deduct $3000?

    The incentive is to the dealer, and will be part of any price quote you are given.

    Use the knowledge of it to get your best price.

    Edmunds Lease Calculator
    Did you get a good deal? Be sure to come back and let us know! Post a pic of your new purchase or lease!


    MODERATOR

    2015 Subaru Outback 3.6R / 2014 MINI Countryman S ALL4

  • manub00788manub00788 Member Posts: 11
    Thank you, this has been very informative
  • johnfljohnfl Member Posts: 12
    Hello, would you please provide the MF and residual for an XC90 T6 Momentum 7 passenger with 12k and 36 months. I'm located in 34952. My offer is $540 monthly with 2,600 down.
    THanks
  • MichaellMichaell ColoradoModerator Posts: 182,211
    johnfl said:

    Hello, would you please provide the MF and residual for an XC90 T6 Momentum 7 passenger with 12k and 36 months. I'm located in 34952. My offer is $540 monthly with 2,600 down.
    THanks

    .00159 and 61%
    $3000 incentives

    What is the MSRP, selling price and adjusted cap cost?

    What is the itemization of the $2600 up front?

    Edmunds Lease Calculator
    Did you get a good deal? Be sure to come back and let us know! Post a pic of your new purchase or lease!


    MODERATOR

    2015 Subaru Outback 3.6R / 2014 MINI Countryman S ALL4

  • johnfljohnfl Member Posts: 12
    hi - thanks
    msrp: 59,405
    sale price 52,905 with incentives
    not sure about the adj cap cost or itemization question
    FYI, i added this question to the 2020 xc90 forum too, wasnt sure what i was doing
    Don't want folks to duplicate efforts.
  • MichaellMichaell ColoradoModerator Posts: 182,211
    johnfl said:

    hi - thanks
    msrp: 59,405
    sale price 52,905 with incentives
    not sure about the adj cap cost or itemization question
    FYI, i added this question to the 2020 xc90 forum too, wasnt sure what i was doing
    Don't want folks to duplicate efforts.

    We will keep this thread here.

    With the prices provided, I calculate $605/mo plus tax.

    Your quote looks pretty good.

    Would be good to know what is included in the $2600 up front; ask the dealer for a breakdown.

    Edmunds Lease Calculator
    Did you get a good deal? Be sure to come back and let us know! Post a pic of your new purchase or lease!


    MODERATOR

    2015 Subaru Outback 3.6R / 2014 MINI Countryman S ALL4

  • manub00788manub00788 Member Posts: 11
    @Michaell @kyfdx Hey guys, thank you so much for responding to my post about XC90 lease. I got another quote for XC90 but this time for T6 momentum AWD 7 passenger. Zip code: 95111.

    Could you please evaluate the lease deal for me. Dealership gave me the number for 36 month / 10K per year but I requested for 36 month /12 K. But anyway, maybe using these number you can at least tell me if quote seems reasonable or not. More details:

    1. Acquisition fee not included in Drive-off amount
    2. RV comes out to be 62% (i think)
    3. MF was 0.00179

    In another post @kyfdx mentioned the RV and MF should be 61% and 0.00159 respectively for 36/12, so how do I convince the dealership to correct the money factor?

    Sincerely appreciate your help guys!
  • kyfdxkyfdx Moderator Posts: 187,316

    @Michaell @kyfdx Hey guys, thank you so much for responding to my post about XC90 lease. I got another quote for XC90 but this time for T6 momentum AWD 7 passenger. Zip code: 95111.

    Could you please evaluate the lease deal for me. Dealership gave me the number for 36 month / 10K per year but I requested for 36 month /12 K. But anyway, maybe using these number you can at least tell me if quote seems reasonable or not. More details:

    1. Acquisition fee not included in Drive-off amount
    2. RV comes out to be 62% (i think)
    3. MF was 0.00179

    In another post @kyfdx mentioned the RV and MF should be 61% and 0.00159 respectively for 36/12, so how do I convince the dealership to correct the money factor?

    Sincerely appreciate your help guys!

    .00159 MF and 62% residual is correct.
    $2000 Volvo Allowance

    No info on your quote about selling price or adjusted CAP cost.

    The dealership is allowed to markup the rate. Tell them you want the base rate.

    Edmunds Lease Calculator
    Did you get a good deal? Be sure to come back and share!

    Edmunds Moderator

  • manub00788manub00788 Member Posts: 11
    edited February 2020
    @kyd
    kyfdx said:

    @Michaell @kyfdx Hey guys, thank you so much for responding to my post about XC90 lease. I got another quote for XC90 but this time for T6 momentum AWD 7 passenger. Zip code: 95111.

    Could you please evaluate the lease deal for me. Dealership gave me the number for 36 month / 10K per year but I requested for 36 month /12 K. But anyway, maybe using these number you can at least tell me if quote seems reasonable or not. More details:

    1. Acquisition fee not included in Drive-off amount
    2. RV comes out to be 62% (i think)
    3. MF was 0.00179

    In another post @kyfdx mentioned the RV and MF should be 61% and 0.00159 respectively for 36/12, so how do I convince the dealership to correct the money factor?

    Sincerely appreciate your help guys!

    .00159 MF and 62% residual is correct.
    $2000 Volvo Allowance

    No info on your quote about selling price or adjusted CAP cost.

    The dealership is allowed to markup the rate. Tell them you want the base rate.
    So sorry, dealer gave me number all over the place, here's more detail:
    1. Acquisition fee not included in Drive-off amount
    2. RV comes out to be 62% (i think)
    3. MF was 0.00179
    4. Selling Price: $53,538
    5. MSRP: $60,155
    6. Dealer gave me A plan pricing based on my employer
  • MichaellMichaell ColoradoModerator Posts: 182,211

    @kyd

    kyfdx said:

    @Michaell @kyfdx Hey guys, thank you so much for responding to my post about XC90 lease. I got another quote for XC90 but this time for T6 momentum AWD 7 passenger. Zip code: 95111.

    Could you please evaluate the lease deal for me. Dealership gave me the number for 36 month / 10K per year but I requested for 36 month /12 K. But anyway, maybe using these number you can at least tell me if quote seems reasonable or not. More details:

    1. Acquisition fee not included in Drive-off amount
    2. RV comes out to be 62% (i think)
    3. MF was 0.00179

    In another post @kyfdx mentioned the RV and MF should be 61% and 0.00159 respectively for 36/12, so how do I convince the dealership to correct the money factor?

    Sincerely appreciate your help guys!

    .00159 MF and 62% residual is correct.
    $2000 Volvo Allowance

    No info on your quote about selling price or adjusted CAP cost.

    The dealership is allowed to markup the rate. Tell them you want the base rate.
    So sorry, dealer gave me number all over the place, here's more detail:
    1. Acquisition fee not included in Drive-off amount
    2. RV comes out to be 62% (i think)
    3. MF was 0.00179
    4. Selling Price: $53,538
    5. MSRP: $60,155
    6. Dealer gave me A plan pricing based on my employer
    I'd still push for the base MF; tell them you want the base MF, or you'll find another dealer.

    Edmunds Lease Calculator
    Did you get a good deal? Be sure to come back and let us know! Post a pic of your new purchase or lease!


    MODERATOR

    2015 Subaru Outback 3.6R / 2014 MINI Countryman S ALL4

  • manub00788manub00788 Member Posts: 11
    Michaell said:

    @kyd

    kyfdx said:

    @Michaell @kyfdx Hey guys, thank you so much for responding to my post about XC90 lease. I got another quote for XC90 but this time for T6 momentum AWD 7 passenger. Zip code: 95111.

    Could you please evaluate the lease deal for me. Dealership gave me the number for 36 month / 10K per year but I requested for 36 month /12 K. But anyway, maybe using these number you can at least tell me if quote seems reasonable or not. More details:

    1. Acquisition fee not included in Drive-off amount
    2. RV comes out to be 62% (i think)
    3. MF was 0.00179

    In another post @kyfdx mentioned the RV and MF should be 61% and 0.00159 respectively for 36/12, so how do I convince the dealership to correct the money factor?

    Sincerely appreciate your help guys!

    .00159 MF and 62% residual is correct.
    $2000 Volvo Allowance

    No info on your quote about selling price or adjusted CAP cost.

    The dealership is allowed to markup the rate. Tell them you want the base rate.
    So sorry, dealer gave me number all over the place, here's more detail:
    1. Acquisition fee not included in Drive-off amount
    2. RV comes out to be 62% (i think)
    3. MF was 0.00179
    4. Selling Price: $53,538
    5. MSRP: $60,155
    6. Dealer gave me A plan pricing based on my employer
    I'd still push for the base MF; tell them you want the base MF, or you'll find another dealer.
    Yes i'll surely push them for that, but do you think there's any more scope in reduction of selling price, does the current quote looks good though?
  • MichaellMichaell ColoradoModerator Posts: 182,211

    Michaell said:

    @kyd

    kyfdx said:

    @Michaell @kyfdx Hey guys, thank you so much for responding to my post about XC90 lease. I got another quote for XC90 but this time for T6 momentum AWD 7 passenger. Zip code: 95111.

    Could you please evaluate the lease deal for me. Dealership gave me the number for 36 month / 10K per year but I requested for 36 month /12 K. But anyway, maybe using these number you can at least tell me if quote seems reasonable or not. More details:

    1. Acquisition fee not included in Drive-off amount
    2. RV comes out to be 62% (i think)
    3. MF was 0.00179

    In another post @kyfdx mentioned the RV and MF should be 61% and 0.00159 respectively for 36/12, so how do I convince the dealership to correct the money factor?

    Sincerely appreciate your help guys!

    .00159 MF and 62% residual is correct.
    $2000 Volvo Allowance

    No info on your quote about selling price or adjusted CAP cost.

    The dealership is allowed to markup the rate. Tell them you want the base rate.
    So sorry, dealer gave me number all over the place, here's more detail:
    1. Acquisition fee not included in Drive-off amount
    2. RV comes out to be 62% (i think)
    3. MF was 0.00179
    4. Selling Price: $53,538
    5. MSRP: $60,155
    6. Dealer gave me A plan pricing based on my employer
    I'd still push for the base MF; tell them you want the base MF, or you'll find another dealer.
    Yes i'll surely push them for that, but do you think there's any more scope in reduction of selling price, does the current quote looks good though?
    We don't track pricing; you can look here to help:
    https://www.edmunds.com/new-cars/

    Edmunds Lease Calculator
    Did you get a good deal? Be sure to come back and let us know! Post a pic of your new purchase or lease!


    MODERATOR

    2015 Subaru Outback 3.6R / 2014 MINI Countryman S ALL4

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