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Prices Paid: Buying & Leasing Experiences Volvo S40 Lease Questions
299 messages, Last post on Nov 17, 2009 at 4:49 AM
You are in the Prices Paid: Buying & Leasing Experiences Forum. Your Hosts are car_man & kyfdx
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Replying to: paulsaz (Sep 17, 2008 11:39 am) Car_man Host Prices Paid: Buying & Leasing Experiences Forum |
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Asked for general numbers on a 2009 S40 2.4i with leather and climate and was told $389/mo, $2500 upfront for 36 mo, 12k/yr. I know I need to get a sales price, money factor and residual numbers but does this sound like a reasonable start? I got spoiled by my 2007 A4 lease which was 0 down and $410/mo but it's up in December and I've started looking around at other options. Thanks |
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| Just to give people an idea on some numbers... On a non metallic paint 09 S40 with leather 48/12 with 2,000 out of pocket 299+tax is a "big loser" for a dealer and a very good deal for a customer. Costco and Loyalty do not apply to neither S40 nor C30. | |
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spoke to a local dealer....crummy offer imho: starting price: $5250 under invoice term: 36 mos residual: 40% (with 12k mileage) money factor: .00240 (tier 1 credit) i didn't push them as i'm also working on a purchase of a certified pre-owned but this didn't seem attractive at all |
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Hi Car_Man, I'm shopping entry-level luxury sedans and don't see any recent info on the Volvo S40 Lease Rates. Do you have that info? I see they're running a special on the website for 299/mo, 36 mos, 10.5K mi/yr with 2K down. I'm hesitant to put anything down because I am one of those unlucky people that this forum discusses in theory who had their leased car totaled after driving it for less than 5 months! Ultimately I lost about $650, but still...lesson learned. Is it realistic to think I could negotiate with Volvo to keep the monthly payment below $300 with only first payment down? Thanks for your help!
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Replying to: shop4cars1 (Feb 24, 2009 4:36 pm) Ya know, I never quite understood this. The same thing would happen if putting money down on a financed car, so what is the difference?
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Replying to: qbrozen (Feb 25, 2009 9:38 am) A lease offers you the opportunity to avoid that with included GAP insurance (for most makes).. For most auto loans, this is an extra-cost item... So, why take the risk on a lease, if you don't have to?
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Replying to: kyfdx (Feb 25, 2009 9:40 am) The only reason that makes sense to me is to take advantage of super low money factor. But the same applies to special financing rates. In either of these cases, I'm all for borrowing as much as is allowed. |
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Replying to: qbrozen (Feb 25, 2009 9:38 am) When you put money down on a lease, that's money directly out of your pocket that won't be rolled in to the value owed on the car if it were to get totaled. So, when my car was deemed a total loss a few weeks ago I automatically stopped paying the payments on my car and owed nothing more, but everything I had already spent on the car (down payment + all 5 monthly payments) will not be reimbursed by the insurance company. GAP insurance does not cover what you have already spent. Instead, gap insurance is to cover the difference between the pay-off value of the car (what you would have had to pay the the finance company to buy the car the day of the crash, which is essentially what your insurance agency does) and the current market value of the car (deemed by your insurance agency through their own research). Many times, lease holders end up being upside-down on their leases (meaning the current market value is less than what the finance company is owed for the pay off). This is why Gap Insurance is definitely a good idea. I was lucky enough to have had it in my lease and to have actually had a slightly higher current value than pay-off value so I didn't have to use it:) If you finance or own a car, then all the money that you put toward it is taken away from your total selling price and whatever money you get back from the insurance company is your's to keep and put toward another car. On the car I totaled, I put about $650 down...which I thought was not a lot of money and I thought it would eventually be amortized through the course of four years. However, since my car was totaled in less than 5 months of driving it, I basically am out an extra $650 (or, for those of you who see cars through monthly payments, that breaks down to the fact that over the short period of time I had my car I was paying about $500/month rather than $350/month I negotiated). On another slightly related note, unless you are always putting the same amount down, it's hard to compare the rates you are getting on each car. At least, in my opinion. Sorry for the lengthy explanation, hopefully that makes more sense!
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Replying to: shop4cars1 (Feb 24, 2009 4:36 pm) I know we could do better. |
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