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The lender was USBANK, I actually ended up with an Infiniti M35x, really wanted a 24mo lease, and there were big incentives for me to lease another infiniti.
The dealer quoted me a price of $39,500 for the vehicle, which is as low as it is because it had hail damage that was fixed.
The lease rates I thought were crazy high actually, and they have been reluctant to give me the actual numbers:
36m 15K miles : $766/month
48m 15K miles : $665/month
I'm waiting to hear about the details yet, but those numbers seem very high, especially considering that I and my wife have perfect credit.
What were the terms of your lease:
MOnthly payment?
Amount down?
Money Factor?
Residual?
How long?
How many miles per year?
Through what lender?
Thanks in advance.
What deal did you get in the end and how much for your lease payments?
Regards
I'm looking since our dealer in Rocky Mountains still has this available. Just wanted to know what options did R come with at the $455 payment? Which Volvo dealership did you work the deal with?
Thanks
Can anyone comment on this deal and the additional costs impacted by going to 15000/yr? I called to Volvo dealer and they claimed no knowledge of any support or cash ongoing right now. "there was a 6000 deal last month..."
Car_man
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Car_man
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That's the bummer about the Volvo compared to MB and Audi with the 3rd party RV at 52-54 for those cars.
BTW, we're going for the regular 2.5T with prem and conv packages. We're swapping out the SUV, so 2.5T is plenty of pickup for us right now. We wouldn't know what to do with the T5 let alone the R series except to get into accidents.
spoke with one Internet dealer and he is going: $7000 off MSRP on the S60 2.5T or $8000 off MSRP on the S80 2.5T. Looks like off financing is being offered (like you stated Car_man, but in-house financing still).
I'm wondering if I can push $500 above invoice pricing along with the $7000 off, saving yet another ~$2000.
MSRP: $35,080
Invoice: $32,751
Cap: $24,000
36 mo closed end lease
36k miles
$347.89 + tax
Total due at signing: $841.17 (includes only first payment and fees)
Residual: $15,516.55
Money Factor: 0.00220% (estimated based on assumed credit)
is this a good deal?
Did you use a 3rd party financing? Looks like that they gave the entire cash incentive to you along with invoice pricing. Good job!
'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 take it that is a pretty solid deal? still debating between this and the A4 (which comes with free maintenance so the cost diff in payments is minor)
also i am converned over size of these sedans but a4 and volvo seem pretty comprable on back seat space - do you agree? sport sedan category doesnt provide much sedan like room - the volvo ride also was more sedan like while the audi had a ton more kick and seems more fun to drive - i guess 2 very different cars for a similar lease purchase - pls let me know what you are doing - check out my recent posts on audi lease board to see the pretty good offer i got - the one they said was wrong but will honor till tonight @ 7 pm
cheers
Our chief concern is the reliablilty of the A4 coupled with the servicing distance. Volvo certainly isn't the best servicing record either, but at least it's local for us....much more sedan and safety is unmatched IMHO.
Is this a good lease deal?
2006 S60-AWD-MSRP-$38,335
Net Cap Cost-$26,477
Term-36 months
15K Miles/Year
Money Factor=.00202(4.85%)
Residual-$16,484(43%)
Monthly Lease Payment-$365
Due on Delivery
1st payment-$365
Sales Tax-864
1st years fees-261
Security Deposit-0
Other Upfront costs-777
Total due at Signing-$2,267.
1. Is this a good deal? If not, what would you think the payment should be?
2. If I wait until August 1st, I would think dealers
would have better lease rates since they want to unload
2006 models before 2007's come in. Should rates be better in August?
3. What would you think a lease payment would be on a 2007 S60 AWD($38,000 price) if I can get the 2006 S60 at $365/month for 36 months?
Thanks
2 dealers don't control lease rates. Rates are going up, not down. the lease incentive program is designed to unload 06's this month.
3 who knows? Part of your deal IS the lease incentive $$. No such incentives on an 07.
Are you saying Volvo is still doing the $10k lease incentive in July?
An R for under $400/mo on a 36 month lease with 15k miles/year is a great deal IMO, I was expecting it to be in the $500-600/mo range (on a 60 month lease too).
However, residuals have dropped so payments will go up slightly anyway.
Figure 36 mos @ 41% for 15k/yr
48 mos @ 33%
get the xc90.
personally, i think the lexus suv is quite unattractive.
'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
2006 s60 2.5t
msrp 35,675
48 months
12k per year
$320 per month
$999 down
I ended up leasing an '06 S60 R yesterday with manual transmission.
MSRP: 45,020
Cap Cost: Just under $33k (not including LoJack or PermaPlate which were added during discussion with finance manager)
Term: 48 months
Mileage: 15k miles per year
Residual: 33%
Money Factor: .00265
Payment: $557/mo
$2k total due at signing, $1k went to cap cost reduction
MSRP: $43,810
Cap cost: $31,616
Term: 36 months
Mileage: 15k
Residual; 41%
Money factor: .00236
Payment: $558.77/mo.
Due at signing: $898.52
We mentioned the incentives that I read about here and they were really up front about what they are getting. They even showed us the dealer sheet showing over $11k in incentives right now on the S60R. they have about $10k on the S60 T5 special ed. but we are in love with the R now that we drove it. We really wanted a payment that was around $500-$525 with one payment drive-off. Do you think this is possible?
Without I calculate it to be ~$494.
41% of $43810 is $17692.10
$31616 - $17692 = $13624 / 36 = $378
$31616 + $17692 = $49308 x .00236 = $116
Or total about $494.
So if they are telling you $558 is the payment without taxes there is something missing or they are wrong. If you want to reduce the payment you'd want to put some money down as a cap cost reduction, or negotiate the cap cost lower.
Looks like residual went from 43% to 42%; money factor went up to .00207, cap cost went down by $230 and a $500 rebate went away.
2006 S60-AWD-MSRP-$38,335
Net Cap Cost-$26,247
Term-36 months
15K Miles/Year
Money Factor=.00207(4.97%)
Residual-$16,100(42%)
Monthly Lease Payment-$370
Due on Delivery
1st payment-$370
Sales Tax-845
1st years fees-261
Security Deposit-0
Other Upfront costs-777 (Money down)
Total due at Signing-$2,253
This lease is via US Bank.
1. The price for the New 2007 S60 was quoted at $417 for 36 months(15K miles/year). So for $47 more per month, I can get a brand new 2007. Is this a decent deal?
2. What is new in the 2007 S60 versus the 2006 S60?
3. I received something from Volvo(since I lease an XC90 now) that references a $2,000 loyalty bonus on year end 2006 S60's from 7/6 to 7/31. This is only available if you lease with Volvo finance. Does anyone know about this?
4. I was told that the payment on either lease can be reduced by $10 per month if I go with 12K versus 15 K miles per year. I usually trade in my leased vehicles about 6 months prior to maturity at mileage below the allowed and they usually pick up the remaining payments and any overmileage if I lease a new vehicle from them.
Does it make sense to pay the extra $10 for miles if I know I am going to lease another Volvo from them?
5. Is the Volvo Navigation System available on the 2006 S60? It looks like it pops out of the dashboard which is pretty cool. I like this setup versus the portables that stick to you windshield. However, it looks like a $2K option. Any others you would recommend?
Thanks
2 07 S60 has a new front bumper and tire pressure monitoring is standard.
3 the 06 lease w/ VFNA is horrible. Even w/ the $2k.
4 Don't bet that you will be able to get out of your lease early. Esp if it is a bank lease. All that will happen is that your dealer will take the payments and mileage out of the discount on a new car. Take the miles you need and the term you can live with. It will save you money in the long run.
5 Nav is available on the 06 but very, very rare.
IVA-W200:
http://www.alpine-usa.com/en/products/product.php?model=IVA-W200
Read about one user's experience with it here:
http://forums.swedespeed.com/zerothread?id=60574
Having the scrren on top of the dash minimizes this.
Some other auto makers are following suit.
The Volvo system can be controlled either by the steering wheel or by a remote control.
The R has the most.
The incentives only work in conjunction w/ non VFNA leases.
s60 2.5TAWD
List price: 37,330 (has premium package and some other things)
Real price: $35,077
I would put $1154 down, which includes first month/0 security/0 cap cost reduction and $795 acquisition fee)
For 12k miles (which I plan to ask to boost to 15k) and 36 months, payments before tax: $359
But based on the numbers in this forum, the car's residual will beless than what I would have to pay at the end of the lease to acquire the car (about $1000 less, if I did the figures right). is this a problem? Does the deal look good? Is there anything I can do to reduce the monthly payments (negotiate further the price of the car? I don't want the premium package etc, but that's all the dealer has left).
--only thing is, the dealer said it includes the registration fee, although I am wondering if he is mistaken....another Volvo dealer who came up with a down payment of $1600 for a similar car with similar monhtly (although not AWD/but the initial payment includes registration fee) said he could not figure out how the first dealer got the initial payment so low unless he was also paying registration fee.
I'm also looking at the Infiniti G35, which has about $389/mo for 24 months, but requires $2k down. but it's not AWD.
thanks
I'm going with the second (seemingly more pricey) dealer: the first called me back today and suddenly changed the original offer. In the end, he came the same as the second dealer, and for an AWD, but I was so displeased with the dishonesty (he claimed the initial dealer who spoke with me was new...too bad he was not actually new and was conferring with his manager the whole time }
So now, with the second, at least honest dealer, the deal is 1700 out of pocket, which includes first month's payment of $380 (which includes state tax of 7 percent in the monthly payment) for 36 months with 15,000 miles a year. This is for 2WD, plus premium package and climate control. The money rate is 00.207 and the residual, I can't recall, but it totals $14,989. I am pleased with the deal, just unsure whether instead to buy a 2004 Volvo S60 with low low mileage quite cheap!