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Car_man
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Car_man
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Car_man
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Well, if you have to pay a fee, then its hardly the best deal is it?
There is a simple way, utilize the resources here, go to your local dealer, let them know you are there to buy a car if the numbers are right and get it done.
Or, you can get quotes from the internet or Fleet Dept.
Problem is, when someone knows you are shopping, they can low ball you pretty easily.
There simply is no one best deal, for anyone. There are too many factors to consider. If you spend all your time trying to get to the absolute best price, it can be an unpleasant experience.
CA like AZ has very high registration fees. If the fees in Podunk are $60 and they are $800 in CA, that impacts your lease.
They make less gross profit on each deal. they don't want you to walk especially if your going down the street to do the deal and they know your ready today. I almost backed over a guy once as we were leaving the dealership after the 3rd pencil(deal they were offering)He begged us to come back and said it was crazy anyting could happen his boss really wants to do a deal, why didn't you plead like this with your manager at the 3rd pencil I asked?
We both know you found the same car for a much better deal elswhere($0 due @ driveoff 299mo.) Once you talk to my guy let me know how it goes. If don't get what you want there is more than one Volvo dealer to shop or even more important do business with. Especially if your willing to travel abit the small inconvience now can more than pay for itself down the road.
Well, you're right-no mystery... GREED is a sickness!
Of course, when I ask them to explain the figures, then they never reply!
Just to let you all know how super-cool I am.......
(and I'm not telling you which dealer, salesman name, MF, etc...you can get the financials yourselves)
Ultimate new 2006 S60R Lease:
MSRP: $45,245 + $740 (installed bluetooth + ipod adaptor)
= Total MRSP of $45,985
Options: (metallic paint, Auto Trans, Premium, Convenience, 18" wheels, air quality system, sirius pre-wire).
Only missing Nav, Climate package (heated seats), and sport body kit:
Drumroll please:
15k, 36 mos
$3000 out of pocket
$382 per month including tax.
The figures above account for ALL payments. Just 3k out of pocket to cover down payment and driveoffs. Thats it.
Thank you very much.
Cap Cost (selling price before down payments, etc) =
$27872
If you do your math, thats a discount of: $18113
The conclusion here: I am a leasing WIZARD. I thank god for my Jewishness, which has allowed me to accomplish feats of financing not achievable by mere gentiles.
And yes, this car was brand new, 20 miles on it, it was not a demo, it was in perfect condition, on the showroom floor. Nobody died in it, blemished it, or so much as looked at it the wrong way. And it was a desirable color...as opposed to sonic blue or some other weird color.
06 volvo s60 2.5t
MSRP 36,225
basecap cost 25,750
residual 42%
with additional 1k down, final drive off including 1st month payment 2.6K.
montly payment $360 + $21 in tax comes to $381 per month.
dealer seemed upfront and honest. sounds like a decent deal, thinking of taking it.
suggestions?
Car_man
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A capitalized cost reduction on a lease is essentially a down payment. It is used to reduce the amount that you are financing. I personally always advise community members against making cap cost reductions on leased vehicles. The main reason that I do so is that if your leased vehicle is totaled in an accident or stolen and never recovered during your lease your cap cost reduction essentially disappears. Consumers can and should lease any vehicle that they want without making any sort of cap cost reduction.
All banks that lease vehicles to consumers charge a bank aka acquisition fee. Volvo Finance charges a $595 acquisition fee on every vehicles that it leases. Some other banks charge more and some charge less, but the $940 fee that you were quoted is too high. I suspect that the dealer you are working with may be trying to mark your car's bank fee up to add hidden profit to your deal.
Car_man
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'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
What do you guys think? Good Deal? Also, I have to pay a $300 deposition fee to Chase Bank when I return the car. Is this fee generally included in the contract, or does everyone pay the fee at the end of their lease?
Could I have done any better on this '07 Volvo, 36 mo. 10,000 miles/yr?
The poster didn't ask if he should get an '06, he asked how his deal on the '07 looked. And, like I said, compared to your buddy's deal on the '06, $1400 more for an '07, if you WANT an '07, looks decent.
'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
Yes, you can negotiate the buyout. You have to call whoever you leased through (whether that is volvo finance or a bank). I suggest you find out the true value of the car beforehand so you know where you stand. If the buyout is $15k and the car is truly only worth $13k, then you obviously want to try to negotiate for $13k.
'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
Volvo Finance will no longer do so for instance.
I read the earlier post regarding the attractive lease cash offered by Volvo on the S60R. What are the lease rates (money factor, residual) for the 2006 AND 2007 Volvo S60R for 24 and 36 months (12K and 15K miles per year). Thanks!
36 mos/12K mile lease--$279/mos (white or red) and $289 ("metallic colors"). NO CAP COST REDUCTION--I picked up a metallic color (titanium) and paid $2061 out of pocket--1st mos, taxes (you pay up front so you don't have to pay each mos---about $760 in total), acquisition fee, motor vehicle/doc/bank fees. No sec. dep. $289/mos--less than an Accord EX V6 or a Maxima, a lot less than a G35 or Acura TL. If you take into consideration that you're paying the taxes up front rather than per month you're only paying $1300 for inception fees. Pretty good, huh? Apparently, Volvo is giving a lease incentive of $9,000--taken off the invoice you're leasing this car for $24K (I still can't believe it). I got mine at Bridgewater Volvo (they also own Volvo of Princeton and Volvo of Edison). Hope this posting helps someone else out!!! Good luck!!!
Also, $9K off the invoice is $26,345, but you quote a selling price of $24K....so it was $11K off invoice then?
Congrats on your new car by the way!
The car is FWD not AWD (however, it has last year's Dynamic Stability and Traction Control as a standard option so I feel pretty good--also has the turn signals on the side mirrors--I think that's pretty neat). Also, I must apologize because I'm really not too sure what the actual invoice was on my vehicle because I was only concerned about the bottom line numbers (however, when I just ran it on Edmunds the invoice was about just about $33K--the salesman told me the lease price was $24K and that it was $9K off invoice so I guess he was right there). When I read the ad in the paper today I was really shocked because I recalled last month's special which I think was $369/mos (w/o tax--not sure if it was AWD or the FWD). The deal is also good because I think they're using US Bank which the salesman told me had the lowest money factor and a good residual (there is one program out there that is better than the rest). Regardless, the Volvo was not my first choice but I found a deal I just couldn't pass up (leasing a $35K MSRP car for $289/mos--or $309 when you factor in the tax I paid up front). In fact, today was the first time I'd even test drove one. I was a little leery about the 5 cylinder but with the turbo the S60 really did have good pick up. I'm going to pick up the car on Saturday (my old lease expires next Monday). If you're in the market for an S60 and don't mind foregoing the AWD (in light of the DSTC) this deal seems to be great (the S40 is leasing for more, I think $329, that's how good this seems to be!!!). Ends Aug. 31st. I just wanted to pass this on to everyone because the Edmunds forum was really instrumental in my getting a great deal on an Odyssey (my wife actually mocked me when I spent time writing my original post). Best of luck to you all. Maybe I'll check in later to see if people jump in on this deal. Good luck to you all!!!!
I think you got a great deal because the ad was $289/mo with 10.5K miles and $995 down for the S-60 '07. You got $289 with 12k miles and no cap money down. I'm wondering what your deal would equate to with an AWD and 15K miles. The MSRP on the '07 AWD is 37,575 in silver with Premium and Climate Control. I'm thinking 100 more per month would be about right.
Yeah, it's funny, the lease incentives Volvo is offering are only if you go with a non-Volvo lease! Go figure!!
Oh one more thing...did they give you a hard time about any excess wear and tear on the car you're turning in? Is it the Odyssey? Just wondering how to avoid those arguments, as I've heard some horror stories lately.
Thanks for your post and tell your wife we're all car freaks at some time in our life.
Whats my best option I really dont want to go through the hassle of selling it myself but may if they dont give me enough.
They will cut you a check for the full amount of trade-in allowance, or deduct your start-up costs and cut a check for the difference, whatever you prefer..
If they won't give you what you think it's worth, then your only other option is to sell it to someone else.
regards,
kyfdx
Edmunds Price Checker
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Did you get a good deal? Be sure to come back and share!
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Not sure what the figures are for the AWD. The program thru Aug. 31st is for the 2.5T ASR FWD. If you're waiting for the AWD then who knows maybe next month will be your turn to get a deal (last month the deal was for the S40). Turning in an Acura 3.2 TL-S next week (got a great deal on that too--took an '03 when the newly designed '04s were coming in). Had the inspection--no problem at all and Acura is a real class act--give you $1,500 for excess wear/tear (as long as the damage per "incident" does not exceed $500) and no BS dispo. fee. Very generous indeed (they also sent me a $100 gift card to try to lure me back--used it instead to buy Acura swag for my dad and I--hats, coffee mugs, travel bag and some wiper fluid to boot). Too bad the lease programs for the TL are so bad. All I had was a $200 cracked fog light cover--I joked with the inspector that I should knock the car around a bit more to get my money's worth. My dings and dents (and there were several) were all within the limit. Also recently had my wife's Saab inspected (same guy did both cars--I think the company is SGS). We had no problems then either (but Saab was not generous at all--I think they gave you no free excess wear/tear and they also stuck you with a $350 dispo. fee). The Odyssey replaced the Saab (got the Touring edition--I have to admit that I it really is a nice ride). However, I don't know what US Bank provides on excess wear/tear (I do know there's a dispo. fee--waived if you re-up on another vehicle). So, you may have nothing to fear after all. Best of luck though!!!
I'm going out today to make a deal on an '07 S-60 AWD (hopefully). I'll let you know how I do. By phone we're down to 15k miles for 36 mos MSRP 37,575 and sellng price of 28K. Payments are around $390. Will try to move it a bit in person, but it's already a good deal I would think with that price. No cap money down of course.
I'll post again tonight after I buy.
Oh, also, when you say Saab wasn't good about the excess wear and tear...you mean you had to pay some $$$? How much if you don't mind saying...
thanks!
My point about Saab was that as I recall I don't believe they provided you with a "credit" for excess wear/tear whereas Acura gave you a $1,500 credit. However, we still didn't have to pay for any excess wear/tear (and they car did have the inevitable dents and scratches--almost had to pay for a tire but I convinced the inspector to check another part of the tread!!!). In the end, we only had to pay the dispo. fee but I hated having to do that. Seems like you've done a great job getting that price down on '07 S60 AWD. Now you just need to get the best lease program out there!!! Good luck. Let us know what happens.
Picked up the car last night. I did a little better in person and ended up at $380/month. It was funny, I had talked to one area dealership and the salesaman was such a jerk...telling me "you're not getting leather for that price".. etc. I insisted I was, and his reply was "well, go buy the car then!". I said I WILL!
Car handles great and I'm really happy with my purchase. The onething I can't figure out: I hear from everyone "just don't buy the car at the end of the lease". My purchase price at the end of three years is $17,500. I don't see how that wouldn't be an offer not to refuse as I could never buy a three year old car at that price. But this is my first lease so, I could be missing something. If anyone has any info on that point, I'd be interested in hearing it......
Thanks!
As for price of the lease, incentives that I know about (car man...correct me if I'm wrong, also not sure when these expire) are about $7K. So this comes off of MSRP as a minimum. Then you can comparison shop around your area and see who will give you the best price. If you're in the NY area, let me know and I'll pass along more details on my deal and where you can find it. Be sure to get at least 12K or 15K miles per year. These "offers" for 10.5K are a joke. 12K/year is the insurance standard. I know of someone who actually bought and insured a second car because it was cheaper than paying the excess mileage charges he was headed for. Those kinds of deals give leasing a bad name.
I don't know about the A-plan and all that means, although I heard them say that's the plan they used for my lease. Hopefully someone else can shed some light on that. Good luck with everything!!
I spoke to the Bridgewater Volvo people this morning, and told
them I wanted this exact same deal (metallic color, $289 a
month with no cap cost reduction upfront). The sales guy
told me that he had the deal, but among the other upfront
costs, mentioned a "dealer fee" of about $500, which brought
the total drive-off cost (including taxes) to about $2500.
This "dealer fee" is not the acquisition fee, right? This is something
I should negotiate down?
Thanks!
Well... depends on what the apprehension is. Many people think that an advantage to leasing is never having a car out of warranty. Buying the car at the end of the lease means you will have a car out of warranty.
The other issue, for this particular instance, is that volvos depreciate harshly. $17,500 is just an OK price. Compare to an '04 with 36k miles, leather, heated seats, moonroof, etc. and edmunds says trade-in is $16,500. Edmunds is typically high, so I think it would be more like $15k-$15,500. SOOO... at $17,500, you'd be paying near retail for the car. Its not that you shouldn't do it, since that's not a bad price (although this is based on today's numbers. the car could be worth more or less at the actual end of your lease depending on the market at that moment.), but it definitely wouldn't be a deal you couldn't refuse.
'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
'04s are going for $24 - 25K. Show me where I can buy one for $15K and I'll take all you can find!
A friend at work just bought an '04 too and he got it for around $25.
KBB has the '04s with 36K miles at $25K too.
maybe edmunds is wrong, i don't know. i don't work for them, either.
HOWEVER, I can tell you that, back in '04, I was offered a leftover brand new 2.5T with premium and sport for $25,500. So buying a used one now for that price seems WAY off.
Also, just looking at carsdirect now, I see they are offering '06 2.5Ts with premium for $27k. So I'm pretty sure your buddy with the newly purchased '04 got taken.
'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
Bottom line is I can't imagine being able to buy a three year old S-60 w/premium for less than $17.5 k, but we'll see. Who knows if I'll even want to buy it at that point.
Sort of wishing I'd looked at picking up one of those '06s though....
Are you an S-60 owner, and if so, how do you like yours?
'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