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2016 S60 Lease: Please Weigh In

newleaser7newleaser7 Member Posts: 6
edited October 2016 in Volvo
Hi,
I'm new to leasing and would like your input on the following 2016 T5 FWD offers with 10,000 miles/year:

1. T5 Platinum MSRP $45,725 with $696 down, $566/month, and first three months waived
After all taxes, etc. the total cost for 24 months is quoted at $13,148 (see attached
)

2. T5 Premium MSRP $42,225 with $640 down, $472/month, and first three months waived
After all taxes, etc. the total cost for a 24 month lease is quoted at $11,023 (see attached
).

Thank you kindly.
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Answers

  • MichaellMichaell Moderator Posts: 241,042
    newleaser7 said:

    Hi,
    I'm new to leasing and would like your input on the following 2016 T5 FWD offers with 10,000 miles/year:

    1. T5 Platinum MSRP $45,725 with $696 down, $566/month, and first three months waived
    After all taxes, etc. the total cost for 24 months is quoted at $13,148 (see attached
    )

    2. T5 Premium MSRP $42,225 with $640 down, $472/month, and first three months waived
    After all taxes, etc. the total cost for a 24 month lease is quoted at $11,023 (see attached
    ).

    Thank you kindly.

    1. T5 Platinum 24/10 - .00001 and 52%, With your prices, I get $484/mo plus tax
    2. T5 Premier 24/10 - .00001 and 53%. With your prices, I get $402/mo plus tax

    Confirm the adjusted cap cost and MF used for both quotes.

    What state and tax rate is this?

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  • newleaser7newleaser7 Member Posts: 6
    Thanks, Michaell. The rates are for NV. I'm unsure of the tax rate and don't live in NV (but it's the closest Volvo dealership).
  • MichaellMichaell Moderator Posts: 241,042
    newleaser7 said:

    Thanks, Michaell. The rates are for NV. I'm unsure of the tax rate and don't live in NV (but it's the closest Volvo dealership).

    Nevada taxes the monthly payment and the tax rate is something like 8%.

    What state do you live in - I'll guess Utah, if LV is the closest dealer.

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  • newleaser7newleaser7 Member Posts: 6
    Appreciate your expertise. Does it appear to be a competitive lease/s?
  • MichaellMichaell Moderator Posts: 241,042
    newleaser7 said:

    Appreciate your expertise. Does it appear to be a competitive lease/s?

    My calculations are much lower than what the dealer is quoting you. You need to find out why.

    The math is the math.

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  • newleaser7newleaser7 Member Posts: 6
    Will do. Thanks for the advice.
  • kyfdxkyfdx Moderator Posts: 236,830
    newleaser7 said:

    Will do. Thanks for the advice.

    Also, you pay tax where you live, not where you buy.

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  • newleaser7newleaser7 Member Posts: 6
    Thank you, kyfdx. Some of this may seem obvious, but I didn't know. Thanks.
  • ashleigh919ashleigh919 Member Posts: 79
    Actually, just an FYI -- I looked it up to confirm, since this is what I do for a living, non-business vehicles leased in Utah are exempt from sales tax.

    Nevada is 6.85%, but certain counties have additional supplemental taxes.

    Either way, those payments seem really high. That was what happened to me with a 2016. You might want to look into a 2017. I ended up with a payment that was $200 less than what I was quoted on a 2016. However, I was looking for an AWD, and the stock was low on those, compared to a glut of FWD 2016s, and I know they want to be rid of those.
  • newleaser7newleaser7 Member Posts: 6
    Thanks, ashleigh919. I too think the payments are really high even with the low down payment and first three payments waived. We'll see if they negoiate more with a 2017. Appreciate you telling me non-business vehicles leased in UT are exempt from sales tax.
  • ashleigh919ashleigh919 Member Posts: 79
    edited October 2016
    newleaser7 said:
    Thanks, ashleigh919. I too think the payments are really high even with the low down payment and first three payments waived. We'll see if they negoiate more with a 2017. Appreciate you telling me non-business vehicles leased in UT are exempt from sales tax.
    No problem! Even though the numbers are different, and you may want your vehicle equipped differently, check out the deal I got on my 2017 in the 2017 thread.  It is AWD, but just use it for comparison! My tax rate is 8.375%, too, which is about $33 a month of my payment.

    Sorry, the lighting in my garage is horrible. 



    And since it was dark and pouring when I picked it up, here it is the day I looked at it (
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