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2013 and earlier Volvo XC90 Lease Questions
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Comments
Premium
Versatility
AWD
Climate
Metallic Paint
Not Volvo Finance - some bank the dealer uses...
New 2008 VOLVO XC90 AWD XC90 4dr Wgn 3.2L 7 Pass w/Snrf
MSRP: 45,200
Discounted to: 34,019
Dealer Fees: 599
Trade: 4500
Cost: 30118
Residual: 21,400
Mileage: 36000
Lease Term: 36
Total Payment: 440
No Money Down for this deal - $ zero down. The trade took care of that and then some.
First three (3) payments are made by Dealer.
Bottom line:
The XC90 will cost me $13596 in depreciation over 33 months (First 3 are paid with above deal), and I will have paid an additional $924 in taxes.
$14520
Any thoughts?
Here is what we ended up with.
Financed through 5th third bank........
Versatility, Premium, Climate, Metallic Paint,
15,000 per year for 39 months
$1642.22 Down
$465 per month
Picked it up Wednesday last week.
Most dealers are not signed up with this bank and cannot beat their pricing on the leases.
i had a drive off of 4500, that included cap reduction and first month and other stuff.
the monthly payment is 478 plus tax for a total of 511.
the miles per year are 12000 and it is for 36 months.
12000
36
511 (including tax)
3200 cap plus misc. fees and first month..4500 drive off.
not the best deal, but i thought it was fair, i liked the acurra better, but the local dealer has a lot of negative baggage and the bmw and x5 were too slow or too much more a month. the accurra with tech and rear opening (remote) was same price with same drive off and monthly.
barry
Because that payment is way to low for a Sport.
In June, price was in the mid 600 range for three years same down same mileage. So unless its some special hidden deal those numbers are very low. Or the dealer it trying to dump their stock. When I did the last lease they lowered the selling price from 53000 to something like 43000 and Volvo jacked up the residual. Money factor was something like .0001.
Love to see some numbers!
the lease rate is real. I signed the docs yesterday. finance manager told me it didn't include the gap insurance at 511 with tax, so i said that i would get back to him and hung up and they eventually came down from 695 to 499 to 399 to 250 and then when I still didn't respond, it was included and i took the car, and demanded a set of wheel locks for the insul which they also threw in. I let them leave messages and emails, it drives them nuts. . this is a v8 sport model with everything but the nav system., but it is red (that was the trade off for the lease deal) there just aren't any other sports out there, a dealer in mass. had a few, but his lease was in the mid 600's with tax.
the trick is to make sure they know that you are a real buyer (this is my 4th car purchase in 10 months all different brands) have good credit and that in reality you could live without the car. which is ture.
by the way, the reality is that the xc90 is a gas hog and long overdue for an update, but it is classy, sophisticated and a good safe vehicle. and they now throw in the first service at 7500 miles for free.
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However, given the lease structure, and XC90 incentives the math doesn't add up.
their phone number is 800-651-3788
the internet manager is Brett Maxwell,
i just spoke to them and said that the residual dropped on the 1st. so maybe the deals aren't as good. this was the only sport they had, but they do have a v8 in stock and a bunch of those 6's.
i told them that everyone will say i am a shill for them and that it was all a fake.
I noticed someone said that the math doesn't work, they may be correct, but i got the car for 478 plus tax for a total of 511 a month including gap.
that is 36 months and 12k per year.
also don't forget the free service in the georgia region at 7500 miles.
I gave them a check for $4500 as drive off.
so if the math doesn't work, who cares, like I said, I have the car and will pick it up next week. The bummer is that the state farm insurance is about 150 more per year than the accura, but what the heck. it feels like more car to me.
barry
Good job you.
Lucky break that you got to deal w/ an idiot dealer.
I seriously doubt anyone else will be able to come close. Esp now that the residuals have changed.
How bad did the residuals drop on the 1st compared to last years numbers for the same month?
I signed the lease August 31, 2006 for a 2007 xc90 3.2 with premium, metallic paint, and convenience.
I ended up with a 2 year, 15k/yr lease paying only 1000 out the door and 399/mo INCLUDING TAX.
I have not seen anyone touch this deal and am wondering if now that I am an existing volvo customer, can I get this deal again? I'd like to add some more options like BLIS and Xenon lights... I'd add NAV but it seems like the xc90 has the lowest tech junky non-integrated Nav system of ANY suv on the market. Worth it?
Can I get a similar deal again? (a bit more clearly due to options but similar nonetheless)
You are one of the FEW people who received a better deal than me - I thought mine was fair and yours was better! Your lease was one month before mine. Here is my deal:
Sept. 30, 2006 - 2 yr Lease
15k/year mileage allowed
72% residual
MF = 0.00077
Options: 3.2 AWD, Premium, Versatility, Convenience, Metallic, Bi-Xenon, Wood Inlays, Tint.
I test drove several other comparable SUVs and the Volvo Nav was the worst. I really thought I wanted Nav but after the demo I dropped that idea. I had thought about getting another XC90, but it doesn't handle very good and higher mpg would be nice ... so I'm looking at mid-size sedans or wagons (A6 or A4/6 Avant). German cars are just flat-out are more fun to drive. I didn't use the 3rd row much so I'm willing to compromise the space at this point. As the family grows I may change my mind.
1. Volvo no longer provides lease deals with 24-month term. Just 36 months and the best payments with 48 month.
2. MSRPs are up.
3. MFs are up
4. Residuals are way down (partly due to the euro-dollar difference)
I was gonna wait until This month as my lease was also expiring. But I locked into a deal back on Feb, having my remaining lease payments taken care of.
Ask the local dealer. See what they have.
BTW. That deal you had back in 2006, was terrific.
Drove the Audi Q - for me a love hate relationship. I prefer the higher seating of the Volvo and I prefer the SUV like ride - very cushy and the handling on mine is fine. I have a sports car and don't need a "sports" SUV. The fit and electronics of the Audi is better than the Volvo which feels dated. Would like at least the radio station or track on the speedo like most of the cars built today. Have the rear seat AC which can only be adjusted from the rear and resets itself when you turn off the car - not really smart as I use it to cool the car down. Picky stuff but when you look at a Lexus GX470, Audi or BMW it is a wish item.
Cannot complain about the mileage on long trips - average at 22. at speeds of 80mph. Has to have premium - use regular and the MPG's drop in to the 17-18 range. Tested this a few times - premium does make a difference. Highway travel is quiet and smooth - nearly Lexus GX which I do like - just no deals available and the gas MPG's are pretty dismal.
Audi has more rear seat room but not room in the third row. In the Volvo I can put my 73 year old father back there and he doesn't complain! No way in the Audi or BMW X series. I drove one of those and you feel every stone and expansion joint - very stiff. Don't even try to negociate a lease - negociation and low APR is nonexistant.
For two or three more years will stick with the Volvo if I can get a decent deal but in today's market its going to be tough. Manufacturer's can't afford to really give out the incentives even though the cars are really NOT moving off the lots. The Mercedes, Volvo, BMW and Audi lots are full or 08's and I've seen a few 07's as well. Tough times!
xc90 3.2
premium
versitility
climate
metalic paint
$1395 up front (ist month, bank fee, NY registration fees)
36 months
12k $487 or 15K $499 including Tax (7.625%)
Coming off 2006 xc90 lease ($548 24 month $1800 up front which included security deposit)
Sound like a fair deal?
thanks
From my calculation with a residual of .56/36 months you are paying about .72 percent (estimated) and a Net Cap of 38000 which is a decent discount from list if we were back in September but not that great considering that the 09's are around the corner - like the end of this month. Remember the car has depreciated a calendar year so they should realistically take more off the list price since the car depreciates the most in the first year. AND they want to get rid of it.
Total List - approx = 43350 - 38800 = 4550 discount = which could be more and you can reduce your payments a lot more than the price quoted. Did you negociate from list or just ask for a lease?
ANY info would help as I'm probably going in this weekend. They have a few V8's on the lot including one thats been sitting since probably January - white pearl, premium leather, - loaded except for nav and DVD headrests.
Our 06 subsidized deals were great but when I picked the car up in July of 06 I commented to my dad that they had to jack up the residual to 75% with a finance MF of .000012 to get my pre tax rate of 350 for two years. Since the XC90 is nearing the end of the line a high residual is crazy but if they want to move these things they have to seriously lower the money factor. Big money looser all way around but they just can't leave they sit - they'll bankrupt their dealers.
My theory is with the financial losses these banks and manufacture finance co. are getting hit with lately - repos - they seem to be recouping their losses on those who they know can make consistent payments so they'll squeeze every drop at least on interest.
Been to a Lexus dealer this last week and looked at a GX470. Not bad but a little too truck like. Lexus MF was .00112 and they discounted pretty decently without any haggling. Payments are in the 5's low.
Thanks for your help and comments
now the deal was i said, 4500 drive off, 428 plus tax for 36 and 36000 miles, with overage miles at 12 cents if you can believe that.
one guy said the dealer lost 1500 on the deal, so i sat with the sales manager who is a real nice guy, and he said that with the xplan price, and the incentives which are not that bad, and the fact that I took a left over 2008, IN RED!! when no one was buying, in truth he lost about 500 dollars after hold back of 1335..now get this, he sold it to me on the last day of june, so he also saved paying the interest for that car for the month, which at say 1/2 % of invoice might be 375..so he basically broke even and i brought him a present of special brownies he asked about.
Now that I actually have the car, the deal wasfor real.
no one had v8 sports at anything less that 699 a month, call boston volvo they have 5 in stock and wanted 651 with (130 more per month) for the same car.
Yes, i had to drive it back and it cost with plane ticket and one night at the hotel and the gas and food about $300, but it was great to drive the car without the family around and get to know it..
I don't think there are too many v8's around, but if you want a 6, call these guys, they are real aggressive and seem to have a bunch of 6's on the lot, with lots of those demo service loaners too.
the salesman name is brett maxwell, and the number is 678-684-4207
see what they can do to beat the new zero drive off deals on the xc90's that volvo came out today with. that is 499 a month with nothing, including all drive off fees.
Huh. Interesting. Does that mean current japanese cars can't compete with '90s japanese car? Because my '06 Accord is absolutely no competition for our '05 XC90s sound system. It can't even compete with my '98 S70 (I think our XC90 is slightly below that probably because it has so much more space to fill with sound), which was by far the best stock sound system I've ever had in any car (and I've had alot of cars from alot of different manufacturers).
'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
Those payments have to be made anyway.
the internet guy is brett maxwell, check my earlier posts on this page and the prior page for the contact information. they seem really motivated, and you would get a newer car with a warranty from volvo and a good transmission.
barry
The 24 month MF for the deal is .00041 or .984% which is excellent
Residuals for 24 month lease at 10500 per year is 56%
Was willing to drop price 5000 without any negociating.
The fixed numbers are OK but how much lower should he go. 09's on incoming VERY SOON so when they hit the US you also have to depreciate even more.
Right now the sweatener is the MF which is pretty low for a two year lease.
My local dealer this weekend said there is 8500 total incentives on the XC90 V8 and I'm not sure if he is blowing smoke.
Figuring current depreciation which has to be taken into account since it is at the end of the model year plus incentives I should get the list down from 55K to about 45 or less.
Is is reasonable?
I thought they no longer had the 24-month lease programs.
'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
Local inventory in St Louis is pretty slim - would love to deal locally but the color/option combos are pretty slim. Few Willow Greens, a Silver and thats about it - more V6's. Don't want black interior and there is one black/black but pretty stripped.
If I wait a few weeks maybe the price will drop but the finance rate may go up. Really have to negociate pretty hard I think for this one but I'm in no rush - have a lease extension that I can terminate any time up to six months, since it has almost a zero percent finance rate its pretty much a no brainer.
The only thing you have to do is get your car registered and get the state inspection/emissions and pay for registration.
Thanks.
2008 XC-90 3.2 V6 AWD. Premium, Versatility, RES, BLIS, Climate
36 month lease, 12K miles/year
MSRP $47,695
Adj Cap Cost $34,276.86
Residual Value $21,016.25
Total out of pocket $1500
Base payment $471.75
Monthly Payment $495.34 (including MA sales tax)
How did I do?