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Volvo XC60 Lease Questions

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Comments

  • 4mercoachrick4mercoachrick Member Posts: 133
    I haven't kept up since trading back in August; but I was told by a Volvo salesperson that the leases were either 10k or 15k with no 12k on the 'menu'.
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Congrats on winning the World Series sfgiant. I'm not a Giants fan, but this year's team was such a likable group that I found myself rooting for them. What they were able to do after losing an MVP candidate mid-year is impressive.

    Anyhow, Volvo is not providing lease support on 2012 models any longer. As a result, if you really went to lease you should go with a 2013 model.

    If you just want the 2012 XC60 and don't really care whether you lease it or not, you can always finance it at 2.49% for 6 years and take advantage of the $2,000 dealer cash that is currently available on it.

    Car_man
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  • trentonltrentonl Member Posts: 2
    $2000 dealer cash is good money. You can get 0.49% for 48 months and 0.99% for 72 months from Pen Fed. Anyone can become a member of that credit union. Deal expires Dec 31.

    https://www.penfed.org/PenFed-Car-Buying-Service/?intcid=ad-ZAG-ProductPages-208- x173
  • lcharlton3lcharlton3 Member Posts: 21
    Hey Carman,

    Could you provide the lease factors for November 12k miles 36 months XC60 platinum T6?

    Thanks in advance,
  • mgarcmgarc Member Posts: 1
    Hello, I'm in South Florida and looking to lease a 2013 XC60 T6. Can anyone please provide the depreciation rate and money factor for top tier credit, 36 month 15k mile lease?

    Thank you!
  • eitzel60eitzel60 Member Posts: 2
    Hey Car_Man,

    Great forums and super helpful info as I am shopping for our first luxury SUV. We were looking at Q5's and your info helped us a bunch, but it turns out we prefer Volvo XC60's.

    I could use your help with some numbers, specifically around December, now that Volvo seems to have moved from USBank to Volvo's own financing.

    I'm looking at: Volvo XC60 3.2 AWD, Platinum Trim, AWD and Climate Package.

    36 MO
    15K m/yr
    MSRP: 45,760 (include $895 destination charge)
    Selling Price: 42,011
    Residual: 48%
    Lease Factor: 0.00025
    NY Sales Tax: $1585
    DMV: $265
    Bank Fee: $795

    Monthly - $572.83 (without taxes)
    Total Due at Delivery - $3305

    There is a sign and drive event going on that should reduce first payment by $500 or so.

    I'm impressed by the lease factor, but the residual value seems low. Perhaps because of the Platinum trim? What can I do better on? Selling Price, Residual Value, remove bank fee? Also, is it preferred to roll in taxes to monthly payment or pay up front?

    Thanks!
  • 4mercoachrick4mercoachrick Member Posts: 133
    I'm not Car Man and I've never played him on TV; but I'll chime in. With 15K miles/year, I wouldn't expect the residual to improve...in fact, that seems a little high since I got that kind of number on a 10K lease :surprise: That's one reason I'm driving an RDX instead of another XC. I'd be very interested in the 'sign and drive' numbers you'll get, since paying up front on a lease defeats some of the advantage of leasing(especially at the current interest rates).

    Also, like any 'down payment', paying the taxes up front is a 'no-no' in my book. May be a requirement where you are, but I would roll taxes into the monthly payment, if possible.

    A sign and drive deal should be just that, IMO(perhaps with first payment due immediately, but not over three grand :( ).

    The Safe and Secure program from Volvo is worth a fair amount(more in the fourth year), so that's something to consider. A cycling acquaintance recently paid over $1500 for her Audi Q brakes(around 30K miles, IIRC).
  • eitzel60eitzel60 Member Posts: 2
    Thanks for the feedback. Safe and Secure is actually a great selling point, though the salesperson said that on leases I will only get 3/36, so if i do a 15k lease i will be at risk for 9k miles...

    I'll ask about pulling all the upfront costs into the lease payments, given that the moneyfactor seems to be pretty good.

    Curious what Car_Man's thoughts are still....
  • drdrakeramoredrdrakeramore Member Posts: 49
    Hey Car_Man -

    Curious what the current rates are - we don't need much by way of mileage, so curious as to residual and MF for a 10K/12K '13 XC60 3.2 with AWD. If you have the data handy for the upgraded trims that'd be great too, but my wife is most interested in less options this time around.

    thanks!
  • mdriveromdrivero Member Posts: 29
    Hello Carman
    I would like to know the residuals and money factor for 24, 36 months for 10K and 12K per year.
    I'm in the market for one of this SUV with almost all the options.
    Thank you.

    Regards. Miguel
  • mdriveromdrivero Member Posts: 29
    Hi,

    can someone help me with the numbers for 24, 30, 36 and 39 months MF and residuals?
    10K and 12K miles per year.
    thank you.
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi drdrakeramore. Volvo Finance's January buy rate lease money factor and residual value for a 36-month lease of a 2013 XC60 3.2 AWD with 12,000 miles per year are .00025 and 53% for consumers who qualify for its top credit tier.

    The residual value for a lease with only 10,000 miles per year would be 1% higher.

    the money factors for the Premier and Premier Plus would be the same, but the residual values would be 1% and 2% lower, respectively.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hello Miguel. Volvo Finance's January buy rate lease money factor and residual value for a 24-month lease of a 2013 XC60 T6 with 12,000 miles per year are .00005 an 69% for consumers who qualify for its top credit tier.

    The numbers for an otherwise identical 36-month lease are .00040 and 55%.

    If you were to lease with only 10,000 miles per year, this car's residual value would be 1% higher.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hey mdrivero. Volvo Finance's January buy rate lease money factor and residual value for a 24-month lease of a 2013 XC60 R-Design with 12,000 miles per year are .00005 and 66% for consumers who qualify for its top credit tier.

    The numbers for an otherwise identical 36-month lease are .00040 and 53%.

    The numbers for an otherwise identical 39-month lease are .00040 and 51%.

    The residual values for leases with 10,000 miles per year would be 1% higher.

    Car_man
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  • starsfstarsf Member Posts: 3
    I was given this quote on a lease for a 2013 xc60 (Premier Plus w/ Climate and BLIS). I'm wondering if and/or where there is room to negotiate on this deal:

    10K mi/36 months
    Money Factor: .0041
    Residual Value: 52%
    Cost of Car: $39,898

    This is my first experience leasing so I have no idea if this is a good deal. Any advice would be very much appreciated!
  • starsfstarsf Member Posts: 3
    I forgot to mention, the monthly payment was quoted at $570 per month. No drive off fee and volvo pays first payment as part of their sign and drive promotion, so only $500 for dmv fees etc due before I get the car.
  • starsfstarsf Member Posts: 3
    Does anyone know how I can locate that information? I'm trying to figure out if the money factor I am being offered is good or if it's being marked up.
  • drdrakeramoredrdrakeramore Member Posts: 49
    I'm not car_man, but looking at his responses earlier this week the numbers you have are in the ballpark, if one assumes that the MF you quote (".0041") is actually .00041, that your monthly includes taxes and that it's spread over 35 payments (not 36).

    Residual seems to be right on based on what car_man told me, but I'm not sure how AWD (which I asked for) affects the %.

    Anyway, one thing you can do is work on your price (cap cost) - you were quoted ~4% off MSRP. By my rough math, each % point off MSRP will reduce your monthly by about $12, so the more you reduce that, the better. Make sure you're good with 10K miles too.

    Oh, you can plug your numbers into www.shrewdlease.com and see what you think. Most of the improvement is in the discount.
  • jbariljbaril Member Posts: 43
    Climate, Tailgate, Remote Start. White / Beige. $44244 MSRP
    24-mo. lease/10K $0 out of pocket; 23 payments of $480.14 + tax = $515.95
    Metro Denver area.

    I was pleased; I spent a month having three dealers fight. Looking forward to trying out the remote start early tomorrow morning.

    John
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi starsf. Volvo Finance's February buy rate lease money factor for a 36-month lease of a 2013 XC60 is .00001 on the 3.2 FWD, .00025 on the 3.2 AWD and .00040 for the T6 for consumers who qualify for its top credit tier.

    Car_man
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  • cpoeclasscpoeclass Member Posts: 11
    Carman -

    Can you confirm what the associated residuals are for the MF rates that you provided in message # 328. Interested in the 3.2 AWD and T6.

    Thanks.
  • nkf2008nkf2008 Member Posts: 88
    I got several quotes from volvo in nyc area; Do these numbers add up to the current money factor / residuals or are there better deals to be had ? Thanks

    1) xc60 AWD T6 Base Model MSRP 41,500
    1700 drive off fees, which include first month, bank fee, dmv fee, Taxes NYS included in payments
    $430.00

    2) xc60 AWD T6 with Power Tail gate Package MSRP 42,800
    1750 drive off fees, which include first month, bank fee, dmv fee, Taxes NYS included in payments
    $460.00

    3) xc60 AWD T6 with Premier Package MSRP 43,500
    1750 drive off fees, which include first month, bank fee, dmv fee, Taxes NYS included in payments
    $495.00
  • jbariljbaril Member Posts: 43
    You're missing some vital information if you want your question answered: what is the term of the lease and how many miles per annum.
  • nkf2008nkf2008 Member Posts: 88
    sorry I forgot to include those; 10k annual 24 months lease
  • tonysi21tonysi21 Member Posts: 3
    Seem to be good quotes. Do you mind posting the dealers/salemen who gave you those quotes? thx
  • liquid00liquid00 Member Posts: 3
    Just got a lease quote for XC60 AWD T6 with a MSRP of $43500.

    24month lease, 10k miles/yr and a monthly payment of $476. With all fees and taxes rolled up into the monthly payment its $546. Is this a good deal?

    Was told residual value was 70% and Money Factor was .00005
  • drdrakeramoredrdrakeramore Member Posts: 49
    Doesn't look like much of a discount off of MSRP - what is the cap cost? By my guess it's around 41,750 which is 4% off. Seems like perhaps you could do better in terms of sales price?

    I haven't seen much info on here lately (i.e. in 2013) for what people are paying but it seems a bit close to retail for my taste.
  • liquid00liquid00 Member Posts: 3
    Cap cost was $41,500. Already did the deal, but your right I probably could have gotten the cap cost down under $40k. I hate dealing with these guys and probably gave in too easily.

    I'll get my next shot at them in 24 months.
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hello cpoeclass. Volvo Finance's February buy rate lease money factor and residual value for a 36-month lease of a 2013 XC60 3.2 AWD with 15,000 miles per year are .00025 and 51% for consumers who qualify for its top credit tier.

    The numbers for an otherwise identical lease of a T6 are .00040 and 53%.

    Volvo is waiving the first month's payment on leases of this vehicle right now.

    Car_man
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  • rebolrebol Member Posts: 2
    Hi carman,

    What is the money factor and residual for 36month with 12,000 miles. Premier plus with climate package?

    Also, if possible what would be approximate difference in the msrp vs. invoice?

    Thank you,
  • xc60_polestarxc60_polestar Member Posts: 1
    Hi,

    I'm working a deal on a XC60 T6 AWD R-design (Prem. Plus, BLIS, Climate) 10K miles 24 mo. - I'm being quoted a money factor of .00101, is that right for the March Volvo programs? This seems high compared to what I've seen for Jan. and Feb. but can't find it quoted anywhere online.

    Thanks for the help!
  • sectorninesectornine Member Posts: 1
    Carman,

    Looking for info on a 2013 XC60 AWD Premier with Climate Package. Was quoted MSRP of $41,160, selling price of $39,637 for a total monthly payment of $577.79, including taxes and fees. This also factored in $500 sign and drive and $500 Loyalty; first month paid waived.
  • ilikeleasing60ilikeleasing60 Member Posts: 4
    Car_man,

    I am not interested in the XC-60. Could you provide the April money factor and residual for the following XC-60 trims at 15k miles per year for 24 and 36 months.

    XC-60 T-6 Premier Plus
    XC-60 T-6 R-design Premier Plus
    XC-60 3.2 AWD Premier Plus

    Thanks.
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hello rebol. Volvo Finance's April buy rate lease money factor and residual value for a 36-month lease of a 2013 XC60 T6 Premier Plus with 12,000 miles per year are .00047 and 53% for consumers who qualify for its top credit tier.

    You can find the MSRP and dealer invoice price of the exact model that you want over in the New Vehicle Pricing section of Edmunds.com.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi xc60_polestar. That money factor that you were quoted is a little high. Volvo Finance's April buy rate lease money factor for a 24-month lease of a 2013 XC60 T6 R-Design is .00018. Make sure that the dealer uses that factor to calculate your monthly payment.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi ilikeleasing60. "I am not interested in the XC-60." You're not? Then why are you asking about it :P .

    Volvo Finance's April buy rate lease money factor and residual value for a 24-month lease of a 2013 XC60 T6 Premier Plus with 15,000 miles per year are .00018 and 64% for consumers who qualify for its top credit tier. The numbers for an otherwise identical 36-month lease are .00047 and 51%.

    The numbers for the T6 R-Design Premier Plus are .00018 / 62% and .00047 / 49%.

    The numbers for the T6 3.2 AWD Premier Plus are .00120 / 65% and .00120 / 53%.

    When negotiating your deal on this truck, make sure to take advantage of the $1,500 dealer cash that is currently available on it.

    Car_man
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  • jfd3jfd3 Member Posts: 6
    I am looking to lease a XC60 I just got off the phone with the salesperson I think I can better my deal but I need advice as when I pointed out he was quoting me on a MSRP and he had room - he told me to make an offer based on $$ down and monthly payment.

    I want a black stone xc60 T6 Premium with climate and a tailgate package (backup camera and auto tailgate). 12k miles/year

    ALL in tag title tax and $3600 down was $400/month. I think the MSRP on this car is around $42k. Which means I should be able to get it for $39k which even with the residual just increasing 2 points this month still gives me $40/month to play with.

    I want to put $2600 and pay $400 month. Do you think this is attainable? If so I would welcome a recommendation re: strategy.
  • ljcdclakerfanljcdclakerfan Member Posts: 7
    Considering a XC60 3.2T Platinum--dealer has told me that on a 24-mo. lease with 12k/mi per year they can offer a 64% residual with a money factor of .00071. That money factor seems a tad high to me based on the March/April numbers. Can anyone shed some light on this? Also, are there any drive-off/first month lease payment promotions that Volvo Financial Services is currently running?
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi ljcdclakerfan. The money factor that you were quoted is indeed high. Volvo Finance's May buy rate lease money factor for a 24-month lease of this car is only .00001.

    Volvo is currently offering a $500 cash incentive for loyal customers and select owners of competitive models on leases of the 2013 XC60.

    Car_man
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  • golexagolexa Member Posts: 2
    Hi all I'm looking a 24 month / 10k miles per year lease on a 2013 Volvo XC 60 T6 Premier Plus AWD with Climate Pkg, Tailgate Pkg, and BLS.

    I was quoted a MSRP of $44,445 with a discounted selling price of: $41,095 and $1,000 rebate making the final price $40,095 (excluding taxes + fees). The lease is $455.47/ month.

    Does anyone know Volvo Finance's May buy rate lease money factor for a 24-month lease on this car?
  • golexagolexa Member Posts: 2
    Forgot one important detail, it's $455.47/mo with $2,500 down
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi golexa. Volvo Finance's May buy rate lease money factor and residual value for a 24-month lease of a 2013 XC60 T6 Premier Plus AWD with 10,000 miles per year are .00001 and 65% for consumers who qualify for its top credit tier.

    Car_man
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  • volvobuyer3volvobuyer3 Member Posts: 1
    Could you provide the money factor and residual for the XC-60 3.2 Premier Plus at 12,000 and 15,000 miles per year for 39 month lease?
  • kal_makal_ma Member Posts: 15
    Hi,
    I am looking to lease a XC60 T6 Premier AWD w/ climate (integrated booster seat in back) and BLIS. I want to do a 24 mo lease. I am looking for the MF/RV for 12K and 15K mile per year.

    Can you give me the May numbers and the June ones if they are out?

    Any word on what incentives will be offered in June/July?
  • tiflorinskytiflorinsky Member Posts: 15
    Hi Car_man,

    I am interested in a 36 months lease with 10K/Y and $0 down for the following XC60:
    - 3.2 Premier Plus
    - Tech Package
    - Tailgate Package
    - AWD
    - BLIS
    - Remote Start
    - Ice White Exterior
    - Sandstone Beige Leather Interior

    I reside in the NY area and i am currently shopping around.
    What would be a reasonable MF/RV/Cap for June?
    Would it make any sense to go for the T6? I don't need the large engine but it may make financial sense.
    Many thanks in advance.
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi kal_ma. Volvo Finance's June buy rate lease money factor and residual value for a 24-month lease of a 2013 XC60 T6 AWD with 15,000 miles per year are .00001 and 65% for consumers who qualify for its top credit tier.

    I believe that Volvo Finance's low mileage adder for 12,000 mile per year leases is 2%, but I'm checking on that.

    The only cash incentives that I am aware of on leases of the '13 XC60 are $500 owner loyalty and $500 conquest cash for current owners of competitive models.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi tiflorinsky. Volvo Finance's June buy rate lease money factor and residual value for a 36-month lease of a 2013 XC60 3.2 Premier Plus AWD with 15,000 miles per year are .00033 and 48% for consumers who qualify for its top credit tier.

    I believe that the low mileage adder for 10,000 mile per year leases is 3%, but I'm checking on that.

    The residual values for the T6 models are a little better than they are for the 3.2, but not enough to make up for the price difference.

    I'm not intimately familiar with what the market is like for the XC60 right now, but if I was in the market for one I personally would shoot for a selling price of around $500 over invoice minus the available $500 loyalty / conquest cash if you're eligible for it.

    Car_man
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  • sgtzhsgtzh Member Posts: 1
    Hi Car_man,

    I'm looking to lease a 2013 XC60 T6 Premier Plus, 24 month or 36 month, 12k miles per year. The quote I got was 0.00130 for both 24mo and 36mo, and 67% for 24 month and 57% for 36 month. I think the money factor is very high.

    Could you tell us the July buy rate lease money factor and residual value? Thanks.
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Your intuition is correct sgtzh. That money factor is way out of whack for Volvo Finance if your credit is in good shape, but the residual value seem high as well. Perhaps the dealer is running your lease through a different bank.

    Volvo Finance's current buy rate lease money factor and residual value for a 24-month lease of a 2013 XC60 T6 Premier Plus with 12,000 miles per year are .00005 and 64%.

    The numbers for an otherwise identical 36-month lease are .00070 and 53%.

    Volvo is providing $1,000 dealer cash on the 2013 XC60 right now. Make sure to take it into account during your negotiations.

    Car_man
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  • car_enthuzedcar_enthuzed Member Posts: 15
    Hi Car_man,

    Could you please post the current money factor and residual for a 2013 XC60 FWD Premiere model for 24 month lease @ 10k miles/year?

    Additionally, anyone have any experience with the Costco Volvo promotion or know what "dealer pricing" means?

    Thank you!
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