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Volvo S40 Lease Questions
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After another day of haggling, this is where I currently stand with 36-month, 15,000 miles/year lease quotes from two different dealers (this is for an '07 S40 T5 AWD, Prem Pkg, Audio Pkg, Climate Pkg, Metallic Paint and Sirius Radio @ MSRP $34,375):
Dealer A - cap cost $26,209 - residual value 44% ($15,125) - money factor 0.00250 - total up-front money $1352 - total monthly payment (with 10% use tax) $452.
Dealer B - cap cost $27,462 - residual value 48.64% ($16,719) - money factor: 0.00250 - total up-front money $1357 - total monthly payment $437.
How can two dealers in the same area (Pittsburgh, PA) give me two different residual values for the same car? They both seem low compared to what I have been reading on here. Dealer A claims that Dealer B is clearly using faulty numbers, that they have a history of these kinds of stunts, and will likely pull a bait and switch on me, changing the deal with correct numbers when the time comes.
Dealer A seems to have better service and has a better overall "feel" to me than Dealer B (for example, Dealer B seemed ultra secretive, not allowing me to take a copy of their detailed lease quote with me), but is this worth $15 a month more?
Any and all advice would be greatly appreciated!
I am looking at the S40i with select and climate package at dealers in Pgh and I got $398 with tax 36/15K $1300 at siging with an msrp of $28,335, no negotiation yet just an email quote. This is from Bill Gray, where are your quotes from? I want the awd but wanted a base point for the price with s40i before I asked for the AWD pricing. I have dealt with bill gray in the past and they were all pretty honest people and were pretty no nonsense, I have not dealt with any of the other dealers yet so I will find out their pricing in the next few days.
36 months, 10k miles per year, $1,200 for initial fees (bank, motor vehicle & doc fees) + first month, $0 additional down. The money factor used is .00217 and the residual is $17,573.
For $336/month (incl tax) is this is a good deal?
I put a deposit on a deal with BG on Saturday. I am glad to hear that you have had good experience with them. I will be sure to let you know how mine goes, once I have taken delivery, etc. I think my initial lack of trust was partly due to never dealing with them before and partly due to the tactics their competitor was playing. I am happy with how things have gone so far. Stay tuned...
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I am in the market to get a 2006 or 2007 S40 (any model) for $300 a month or less. The only things I need are automatic and heated seats.
It would seem based on previous posts that Volvo is offering some handsome incentives ($5,500 cash incentive on leases of 2007 S40 T5 AWD models that are leased through any bank other than Volvo Finance) which may make the T5 more affordable that the 2.4i. Few questions.
1) Are there any incentive in ohio (columbus) on a 2006 or 2007 2.4i? Is the incentives on the T5 available in this market?
2) What is the residual I can use (36 month, 12k miles) for both a 2.4i and T5 (again, only automatic and heated seats needed).
3) What is the money factor I can use assuming Volvo finances the car.
Do you think I can achieve my $300 or less goal?
Thanks
I do not know if you can achieve that goal in Columbus, but I know Bill Gray Volvo in Pittsburgh has that very car sitting right on their showroom floor. I also think your goal of $300 a month is attainable under the right conditions.
If I were you I would call Bill Gray Volvo and talk to their most tenured salesman. I cannot give you his name on this site, but he has a Polish last name. He may be able to make it worth the trip!
Volvo4life
Here are the details of the lease that I was able to arrange for the '07 S40 T5 AWD with climate, premium and audio packages and Sirius radio:
MSRP: $34,375
Cap cost: $27,462
Residual: 48.6% ($16,719)
Money factor: 0.00224
Due at signing: $1357
Monthly pmt: $397 + $40 (PA use tax)
You are right, this is not through Volvo Finance, but is through US Bank according to the dealer.
I concur - it would be worth your trip to visit Bill Gray in Pittsburgh (a few hours away from Columbus). I put a deposit on an S40 T5 AWD with them. They have been a pleasure to deal with so far and blew away the best quotes I received from two other dealers. I have gone to Ohio myself to make a car purchase (BMW 3-series) in the past, and it was very worth it. Good luck!
I'm looking to lease a 2007 Volvo S40 4D Sedan T5 Leather/sunroof, automatic. I live in Portland, Oregon. This is the deal I got from a dealer. Original MSRP: $25,385.00, Customer Cash Rebate: $2,500, Residual Value (49%) $12,438.65, 10,500 miles/yr, adjusted residual value: $12,692.50. It is for 36 months and with payment of $298.73/month. I believe it's a USB - Lease Program Tier 1 - Bureau Score 700+ - Zero Sec. Dep.
Please advise me if it's a good deal for me to enter. Thank you very much for your assistance.
Bamboo4
I am in the process of leasing the volvo S40 2.4i. I need an automatic with just the basic features. Also, I need 20,000 miles each year. One dealer quoted me $412.00 each month with nothing down for a 36 month lease. Is this a fair offer?
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MSRP $34,662
Price $28,927 (this included the $4500 incentive)
Proc Fee $1,095
Lic/Title $246.50
Acq Fee $49.50
Net Cap Cost $31,258.30
Residual 49%
Money Factor .00214
Payment $499.72
Obviously this payment is alot higher than I expected to get. I need some help here. Did I get quoted a decent price for the car? What about that $1,095 processing fee?
The residual also seemed a little low to me.
If Car_man or anyone else can help, I'd appreciate it. Thanks!
Chris
I am interested in a Volvo in Minneapolis. There is a 2006 S40 T5 2WD for sale at a dealer in the area for $27,500. It is new (not a program return or anything), so I am hoping to work out a nice lease for around/under $300/mo. Is this unreasonable given that there aren't incentives or lease support for 2006s now? Or has there been a change? How should I proceed? What should I expect from a bank financed lease (loans for cars in MN are typically a percentage or so higher than the national average, guessing lease money factors are, too?)? The model I am interested in has manual transmission, climate pkg, premium pkg, audio pkg, and traction control. Would it be smarter for me to look at 2007 T5 AWDs? Prices on 2007s at the same dealer are $33,260 and $34,925 for models similarly equipped to the 2006 I like. My credit isn't the greatest (less than 700, over 650). Can I do it?
Electric Silver Metalic, Automatic, T-Tec,Sunroof, Select Package, Climate Package.
MSRP - $29,605 - Their Offer $24.995
Net Cap Cost - $25,590
Lease Term - 36 Months / 15,000 Miles Per Year
Money Factor - .00223
Residual - $14,507 + Lender sets a nominal purchase or disposition fee.
Monthly Payment - $396+ Tax (Approx 7.5% depending on residence zip code)
No Down Payment
Due at Lease Signing - $476 (1st pymt. + $50 License)
I feel that this is a relatively good deal especially with no down payment. I am wondering if there is any room for me to negotiate a better purchase price. Is there any information that anyone can provide me to possibly negotiate the price down about a $1,000 to $23,995 and get the payments under $400 per month with no money down. Any help would be greatly appreciated.
The payment that you were quoted is probably within a few dollars of what it would cost to lease this car through Volvo Finance right now without the $4,500. While I wouldn't say that this is a "good" deal in the sense that I would never pay $500 a month to lease Volvo S40, this isn't a terrible deal for this model once the questionable "proc fee" is backed out.
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There are a lot of really nice cars out there that one can lease for nearly $500 a month. I personally wouldn't pay this much for a Volvo S40 2.4i, but this is probably as cheap as this car is going to be to lease right now.
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S40 T5 AWD Automatic Titanium Gray Audio/Sirius/Premium/Climate
3 year and 15K miles/yr
MSRP $35,625
Invoice $33,262
Agreed Price $26,692 (after incentives + dealer discount)
Gross and adjusted Cap Cost $27,487 (no cap reduction, Price+acquisition fees)
Residual Value $16,387.50
Drive off= 1st month + Fees = 729.19
Payment $400.46 + CA Tax = 433.50
I hope this is a good deal!
I am thinking about leasing an S40 T5 AWD. What is the money factor and residual for 36 months and 10K miles per year. Also it seems like there is more incentive money available then the $500.00 listed on this web site. I live in the Chicago Area where there is an extra tax hit on leasing. Thanks
You can determine approximately how much it will cost you to get out of your current lease by comparing its purchase price to its value on the open market at this time. You should place a call to the bank that you are leasing your vehicle through to find out its exact price. Once you know exactly how much money it is going to cost you to buy your leased vehicle you need to compare it to its current value on the open market. You can find out approximately what your vehicle is worth by looking up its Edmunds.com True Market Value in the Used Vehicle Pricing section of this site. You also may want to stop by the following discussion: "Real-World Trade-In Values". Some of our most knowledgeable community members frequent that discussion and they are often kind enough to give others their opinions of vehicles' value. Don't forget to check to see if you are still on the hook for your remaining lease payments. The difference between your leased vehicle's current value and how much it will cost you to buy it plus any remaining lease payments that you are obligated to pay will equal the cost of getting out of your lease right now. You may find that you are better off waiting until you are closer to the scheduled end of your lease to get another new vehicle.
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is there any cash on other S40 models? and, if so, how much?
thanks.
'11 GMC Sierra 1500; '08 Charger R/T Daytona; '67 Coronet R/T; '13 Fiat 500c; '20 S90 T6; '22 MB Sprinter 2500 4x4 diesel; '97 Suzuki R Wagon; '96 Opel Astra; '08 Maser QP; '11 Mini Cooper S
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Are those numbers still good for March?
'11 GMC Sierra 1500; '08 Charger R/T Daytona; '67 Coronet R/T; '13 Fiat 500c; '20 S90 T6; '22 MB Sprinter 2500 4x4 diesel; '97 Suzuki R Wagon; '96 Opel Astra; '08 Maser QP; '11 Mini Cooper S
I'm looking at leasing an S40 2.4i with the select package and leather interior for 48 months with 15K miles/year.
The dealer isn't budging on the MSRP (29, 655) although they were up front about the $3500 in incentives available. They quoted a monthly pmt of $370, including tax. They didn't give me the money factor they used and quoted a residual of 11,063. With, $2,000 out of pocket, I can't get the numbers to jive with any lease calculator I've tried. The monthly payment seems like a decent deal, regardless. Thoughts???
'11 GMC Sierra 1500; '08 Charger R/T Daytona; '67 Coronet R/T; '13 Fiat 500c; '20 S90 T6; '22 MB Sprinter 2500 4x4 diesel; '97 Suzuki R Wagon; '96 Opel Astra; '08 Maser QP; '11 Mini Cooper S
Thanks much.
jpierotti
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As far as this car's lease program goes, Volvo Finance's March buy rate lease money factor and residual value for a 48 month lease lease of a a 2007 Volvo S40 2.4i with 15,000 miles per year are .00227 and 42%, respectively.
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2007 S40 2.4i with Select, Climate, Auto and Metallic paint (MSRP of $29,310)
To purchase - final price - $24,602
To lease for 36 months, 18k/year:
Cap Cost - $22,852
Cost Out of Pocket - ~$1600 (includes Acquisition fee, document fee, various NJ state fees [those suck], 1st month)
Money factor - 0.00207 (or ~4.9%)
Residual - 47%
Final lease price - $383.33/mo (Note - this includes NJ tax of 7%)
I plan on completing by the end of the week - they are motivated by the end of the month and end of the quarter.
Anyone have any thoughts how we could drive down further?
By the way, Princeton is the ONLY volvo dealer I have found I like in Jersey.
'11 GMC Sierra 1500; '08 Charger R/T Daytona; '67 Coronet R/T; '13 Fiat 500c; '20 S90 T6; '22 MB Sprinter 2500 4x4 diesel; '97 Suzuki R Wagon; '96 Opel Astra; '08 Maser QP; '11 Mini Cooper S