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Volvo S40, Sedan
#672 of 698 2006 S40 purchased used
Jan 04, 2008 (12:51 pm)
I just picked up a 2006 S40 for my daughter, silver (metallic paint), automatic and leather with 30000 miles on it for $17500+++
There were four in town with about the same miles and specs, ie no roof, no premium etc. Two dealers would not take this deal and two would. We took the silver one. Asking prices ranged from $19000 to $20000. Nice car. Not an especially good deal, but fair, considering the car has over two years factory warrantee left and is absolutely spotless. I spent far too much time over the past month shopping for it. Almost went with a Saab 93, but glad I went for this one instead. I drove a few pretty loose 2-year old Saabs, but all of the Volvos were solid and drove about the same.
#673 of 698 Sounds like a deal I can't pass up
Jan 05, 2008 (12:06 am)
So, I think I have a deal on my hands that I should do, regardless of whether or not my wife really wants the car - a 2005 S40 2.4i, base model, no options but "replica" 2.5T wheels...black, 37,000 miles (60,000kms) for $13K Cdn (about the same in USD right now).
It's a friend's lease buyout - they take immaculate care of their cars, but want a benz now.
#674 of 698 Re: Sounds like a deal I can't pass up [macdian]
by kyfdx@Edmunds HOST
Jan 05, 2008 (7:51 am)
If your wife doesn't want the car, it won't be a good deal, even if they give it to you...
#675 of 698 Re: Sounds like a deal I can't pass up [kyfdx]
Jan 05, 2008 (5:09 pm)
That's so true...ironically, she wants a Mazda3...which of course shares the same platform. I'm pretty sure I can wear her down...if not, we'll just sell it, likely for more than we paid
#676 of 698 Bought an S40 today
Feb 11, 2008 (1:54 am)
April 07 S40 2.4i, 8100 Miles. Base Model with these upgrades: 17" Alloy Wheels, Moon Roof, Premium Audio. Metalic Silver with Black Tec interior. Was their Loaner last year. MSRP $27630
Listed at $21250, I offered $18500, got worn out and
Closed Deal at $19900 (Total 21518)
MAJOR OMISSIONS: Trip Computer (I am hoping to have this installed, I found the parts for 100, but wonder what Volvo will charge to program the computer)
Minor Omission: Power Seats
Anyone have thoughts?
#677 of 698 2008 Vovlo S40 T5
Feb 17, 2008 (2:16 pm)
Carman, or whoever may be able to help,
I'm looking to lease a car and i'm thinking about leasing a 2008 volvo s40 T5. I was wondering if anyone knows the current incentives/rebates that Volvo is offering. Also does anyone know what the current residual rate/money factor would be for a 24 month lease at 12,000 miles? The MSRP on the model i want is $33,900. Edmunds.com says i should pay around $31, 052 for that. Does that include any rebates volvo will offer, or is that the number i should aim to get them down to prior to including any rebates on top?
Thanks to anyone who can help.
#678 of 698 Re: 2008 Vovlo S40 T5 [fogarty19]
Feb 19, 2008 (10:11 am)
You should get them to sell/lease you the car at the invoice price minus the incentives, give or take a couple of hundred. I just negotiated an "invoice minus incentives" lease deal on a T5 - the dealer readily agreed. My T5 had no options and the capitalized cost was less than $22k after incentives.
Use Edmunds's invoice number for the specific model and options you want. Then subtract the current incentives of $1500 if you're buying it or $6000 if you're leasing it ($7,000 if its an AWD version). The incentives are given to the dealer but should be passed along to you. These specific incentives were from the program in effect a couple of weeks ago - the program is expiring soon (if it hasn't already) but it undoubtedly will be renewed or go up a little bit. Ask your dealer to tell you the current numbers - it shouldn't be a secret.
The Edmunds true market value price is just a general guide as to what some people are paying - I'm not sure whether it's an average including people who blindly pay sticker price or not, but in any event it usually is overstated except on cars that are in very high demand. Use invoice price as your guide, and then subtract the incentives.
#679 of 698 Re: 2008 Vovlo S40 T5 [jim99000]
Feb 20, 2008 (9:54 am)
thanks for the advice. I talked with the dealer and got him down a little. The MSRP is 33,000. They dropped it to 31,000 (invoice is 30,800). Then they took off the $6000 incentive so it comes down to 25,000 (but you have to have $995 in volvo/bank fees so the Net Cap is 25995). As for a net cap i think that is a very good deal. However, to get the $6000 off i have to go through volvo's outside lender who screws me with the residual and the money factor. the residual rate is 43% and the money factor is .00202 (or 4.92%). when you calculate it out, at $0 down, it comes to about $408 a month pre-tax and 429 with 5% sales tax (MA) for a 36 month lease at 12,000 miles.
MSRP- 33,014 x .43= 14196
25995 - 14196= 11, 798
11, 798/36= 327.95
25995 + 14196= 40191 x .00202= 81
327 + 81= 408
408 x .05 = 20 in tax a month
408 + 20= 429 a month with tax with $0 money down
this seems like a decent deal to me, any opinions?
#680 of 698 Re: 2008 Vovlo S40 T5 [fogarty19]
Feb 23, 2008 (8:21 am)
Why do you think the outside lender screwed you on the residual value and money factor? I never asked about Volvo's residual/money factor compared to outside banks - do you know what the Volvo numbers were?
Your deal is similar to mine. I would have insisted on an invoice deal but the extra couple of hundred bucks is minimal. My cap cost was less b/c I took less options ($21958). My money factor was .00168 and residual was .44 on a 36 month lease with 12K miles a year, so I guess the money factor was the only real semi-significant difference.
I'm paying $305/mo with payment of bank fees and state sales tax upfront in my state.
#681 of 698 Re: 2008 Vovlo S40 T5 [jim99000]
Feb 23, 2008 (9:02 am)
according to the guy who runs this forum (car man ) volvo Finance's current lease money factor for a 36 month lease of a 2008 S40 T5 AWD with 12,000 miles per year are .00099 and 52%. That's why i was saying they screwed me on the residual, but if you go through Volvo finance then you dont get the $6,000 off. so in the end it pretty much comes out the same either way.