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Volvo S40 Prices Paid and Buying Experience
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So, I think I have a deal on my hands that I should do, regardless of whether or not my wife really wants the car - a 2005 S40 2.4i, base model, no options but "replica" 2.5T wheels...black, 37,000 miles (60,000kms) for $13K Cdn (about the same in USD right now).
It's a friend's lease buyout - they take immaculate care of their cars, but want a benz now.
Anyone concur?
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Listed at $21250, I offered $18500, got worn out and
Closed Deal at $19900 (Total 21518)
MAJOR OMISSIONS: Trip Computer (I am hoping to have this installed, I found the parts for 100, but wonder what Volvo will charge to program the computer)
Minor Omission: Power Seats
Anyone have thoughts?
I'm looking to lease a car and i'm thinking about leasing a 2008 volvo s40 T5. I was wondering if anyone knows the current incentives/rebates that Volvo is offering. Also does anyone know what the current residual rate/money factor would be for a 24 month lease at 12,000 miles? The MSRP on the model i want is $33,900. Edmunds.com says i should pay around $31, 052 for that. Does that include any rebates volvo will offer, or is that the number i should aim to get them down to prior to including any rebates on top?
Thanks to anyone who can help.
You should get them to sell/lease you the car at the invoice price minus the incentives, give or take a couple of hundred. I just negotiated an "invoice minus incentives" lease deal on a T5 - the dealer readily agreed. My T5 had no options and the capitalized cost was less than $22k after incentives.
Use Edmunds's invoice number for the specific model and options you want. Then subtract the current incentives of $1500 if you're buying it or $6000 if you're leasing it ($7,000 if its an AWD version). The incentives are given to the dealer but should be passed along to you. These specific incentives were from the program in effect a couple of weeks ago - the program is expiring soon (if it hasn't already) but it undoubtedly will be renewed or go up a little bit. Ask your dealer to tell you the current numbers - it shouldn't be a secret.
The Edmunds true market value price is just a general guide as to what some people are paying - I'm not sure whether it's an average including people who blindly pay sticker price or not, but in any event it usually is overstated except on cars that are in very high demand. Use invoice price as your guide, and then subtract the incentives.
MSRP- 33,014 x .43= 14196
25995 - 14196= 11, 798
11, 798/36= 327.95
25995 + 14196= 40191 x .00202= 81
327 + 81= 408
408 x .05 = 20 in tax a month
408 + 20= 429 a month with tax with $0 money down
this seems like a decent deal to me, any opinions?
Why do you think the outside lender screwed you on the residual value and money factor? I never asked about Volvo's residual/money factor compared to outside banks - do you know what the Volvo numbers were?
Your deal is similar to mine. I would have insisted on an invoice deal but the extra couple of hundred bucks is minimal. My cap cost was less b/c I took less options ($21958). My money factor was .00168 and residual was .44 on a 36 month lease with 12K miles a year, so I guess the money factor was the only real semi-significant difference.
I'm paying $305/mo with payment of bank fees and state sales tax upfront in my state.
Thanks,
Jeff
I did recently price one out here in South Florida for me actually and I could get an auto base unit for close to $23k. Still mulling this over but with the ever rising gas prices and the fact that my beloved Civic gets excellent mileage plus that my oldest is in the market for a car, I've put this idea on hold for the forseeable future.
One day perhaps!
The Sandman
2007? My area's 2007 S40's were gone by August of last year. I'm surprised your dealer has any left, much less 9.
If a 2008, not sure on the money factor and residual but the current manufacturer-to-dealer incentives for both a lease and a buy are $1500. As of 4/1/08, Volvo greatly reduced the $5000 and $6000 lease incentives that it had been offering.
Any numbers for the S40 in the CT-NY-NJ tri state area for an S40? The S40 seems to be a great compromise from the higher priced S80(an excellent car!) without sacrificing safety.
May lease or buy, depending on the numbers.
Likely 3 yr/36-45 miles very few options,2.4i unless the incentives etc make the AWD model a better deal. No leather, no climate...
Happy 4th of July to all!
I am currently shopping for a car (no rush). I am pretty set into a certified pre-owned car to avoid the initial depreciation hit. I have looked at Acura, BMW and Audi. Recently I took the chance to look into Volvo S40 and I was surprised to see that my closest dealer has a few certified pre-owned 2006 models in the 30000 mile range that they are mark as 20000 $ give or take. This prices look relatively cheap to me so I was wondering if 2006 was a bad year or there is any advice you could give to someone like me that it is not that versed in cars.
Thanks!
All the models you are considering will cost more than average for service and repairs IMO.
Good luck and don't forget to compare your actual cost with a 2008 similar model with a full warantee.
Charlie
Try posting a description here: Real-World Trade-In Values
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http://www.nadaguides.com/
Unless you have a like new late model consider your car at the low end of values, subtract from the wholesale value of the car you're considering, check on incentives (hold back is almost always off the table), decide what "profit" you'll pay which must consider the current demand for your new purchase and the current market conditions. Remember the dealer must make a profit to stay in business.
Three percent over invoice is my goal.
Good luck.
Also, anyone know when the 2010s come out?