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Prices Paid: Buying & Leasing Experiences Volvo S40 Lease Questions
260 messages, Last post on Jul 16, 2008 at 3:16 AM
You are in the Prices Paid: Buying & Leasing Experiences Forum. Your Hosts are car_man & kyfdx
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Replying to: yllib569 (Dec 05, 2007 1:31 pm) But, you're right, I haven't seen any deals like that since then. You would think that any remaining '07's that it would be possible to deal on 'em, but apparently not on the '08's. At least not yet, anyway. -Brian |
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Replying to: yllib569 (Dec 05, 2007 1:31 pm) You don't have to get pre-approved to lease this car through an independent bank on your own, the dealer will take care of that for you. If leasing through a bank other than Volvo finance so that you can take advantage of the additional cash incentive will result in the lowest monthly payment, the dealer will likely steer you in this direction. If I was going to lease this car through an independent bank, I personally would want the dealer to subtract the entire cash incentive from you car's selling price. Car_man Host Prices Paid: Buying & Leasing Experiences Forum |
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Replying to: Car_man (Dec 07, 2007 4:53 am) Just a couple of quick techincal follow up questions if I may: (I'm a mortgage banker, so it's all about the numbers for me. 1) Usin the aforementioned money factor of .00152, do I simply multiply this value by the selling price to produce what my payment should be? I must be missing something, for when I do so, the numbers don't foot. Let's use a selling price of $26000 as our baseline and please walk me through the calculation. 2) How can I calculate my tcost of money as a true interest rate using the money factor? Thanks again, you've been a big help. Billy
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Replying to: yllib569 (Dec 07, 2007 11:52 am) regards, kyfdx |
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Replying to: Car_man (Dec 07, 2007 4:53 am) With Kyfdx's gracious assistance and direction to a handy formula I computed that the following $33,392 - MSRP of the S40 T5 with Premium pkg, dynaaudio, climate, & met. paint $31,138 - Invoice (5750) I subtracted the full $5,750 for using an outside lender (750) I know I'm being optimistic, but I subtracted the full cash to dealer current incentive, leaving me a cap cost of $24,638. I then used the formula, and came out with the following: Cap cost of $24638 x residual of 51% = $12,565 Depreciation is $12,073 (cap cost - residual/36 months = $335.36 Money factor of .00142 x (24368+ 12,750) = $52.71 I then added $335.36 + $52.71, which gives me a pretax payment of $488.07. Does that look right? My take away from performing this excercise is that regardless of how low I can get my cap cost, a lousy money factor will really jack the payments, right? You have mentioned in previous posts that Volvo's current lease plan/money factor is not so good. Given my exemplary credit, what range of money factor should I expect to be able to find w/an independent bank on my own? Thank you again, Billy C
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Replying to: yllib569 (Dec 07, 2007 7:04 pm) Obviously, you meant $388.07. just clarifying for other readers. But you did make a fatal mistake. Cap cost of $24638 x residual of 51% = $12,565 Residual is from the MSRP. So its $33,392 x .51 = 17,029.92. Leaving you about $7600 to pay off. However, you are forgetting several fees that add to the cap cost, such as inception, bank, doc fees, and MVC. My take away from performing this excercise is that regardless of how low I can get my cap cost, a lousy money factor will really jack the payments, right? yup. But I think a lousy residual hurts more. Your calculated MF seems awfully low, however. Last I checked, rates were in the mid .002 range. You can check out leasecompare.com to get an idea. |
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My 2005 S40 2.4i lease is expiring in April. Carman do you know what the current deals are from Volvo on a new S40? On my last lease Volvo was offering $1000 loyalty cash. I want to try to get in with zero money down and under $300 per month for 3 years. I do have access to the Ford X plan. I will be purchasing in Scottsdale Arizona.
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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.
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Replying to: fogarty19 (Feb 17, 2008 3:24 pm) I am a sales consultant for Volvo and own a S40 T5 myself. I leased my car last july I believe, and since I do work for Volvo I am very satisfied with the deal I was able to give myself. Let me share with you what I got b/c it doesnt seem like much b/c Volvo doesnt offer very much incentives for the T5. So don't be turned off if your dealer isn't very flexible (they're not given much room). My car is the 2007 S40 T5 FWD at msrp of $33,005 and cap cost was $30,000. 36 months 15,000 miles per year I pay $472.00/month including tax with $500 down. So I guess what I'm saying to you is if you can beat this deal or match it, you've done very well for yourself. I know my dealership's gross profit on this car was NEGATIVE NEGATIVE! I love my car to death and wouldnt drive anything else and is definitly worth the money. I hopes this gives you a good idea where to start with negotiating. Good luck!
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Replying to: volgirl (Feb 17, 2008 6:46 pm)
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