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Volvo S40, Sedan
#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.
#682 of 698 Lease Deals 2008 s40?
May 07, 2008 (9:39 am)
Does anyone know the current lease deals or incentives available for 2007 s40? My local Volvo dealership has 9 in stock and I'm sure they are very willing to get rid of them. My ideal lease would be 36 months at 12,000 miles per year. What would be the money factor and residual? Are there any manufacturer incentives available?
#683 of 698 looking at buying a used s40
May 07, 2008 (10:07 pm)
I was looking at buying a used 2000,2001 s40. Can anybody tell me if they are reliable cars. any pro or cons. Thanks for your input.
May 10, 2008 (4:04 pm)
Wife would've bought the S40, but the rear head rests were to high and compromised the rear view out the rear window, so she got the exact same car with the Mazda 3...same body just with a larger engine, different front and rear facia and more safety features for mucho $.
I did recently price one out here in South Florida for me actually and I could get an auto base unit for close to $23k. Still mulling this over but with the ever rising gas prices and the fact that my beloved Civic gets excellent mileage plus that my oldest is in the market for a car, I've put this idea on hold for the forseeable future.
One day perhaps!
#685 of 698 Re: Lease Deals 2008 s40? [jb911]
May 12, 2008 (2:06 pm)
2007? My area's 2007 S40's were gone by August of last year. I'm surprised your dealer has any left, much less 9.
If a 2008, not sure on the money factor and residual but the current manufacturer-to-dealer incentives for both a lease and a buy are $1500. As of 4/1/08, Volvo greatly reduced the $5000 and $6000 lease incentives that it had been offering.
#686 of 698 2008 s40 Lease ?Purchase? numbers?
Jul 04, 2008 (9:11 am)
Hello there Carman and everyone
Any numbers for the S40 in the CT-NY-NJ tri state area for an S40? The S40 seems to be a great compromise from the higher priced S80(an excellent car!) without sacrificing safety.
May lease or buy, depending on the numbers.
Likely 3 yr/36-45 miles very few options,2.4i unless the incentives etc make the AWD model a better deal. No leather, no climate...
Happy 4th of July to all!