Last post on May 15, 2013 at 11:36 AM
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Volvo S60, Volvo S60 R, Car Leasing, Sedan
#189 of 734 Sell owned S40 lease S60
Aug 20, 2006 (9:32 am)
I have a fully paid for 2003 S40 with 28,000 miles that I want to sell and lease a 2007 S60 Does anybody know how it would work if I wanted to trade in the car. Put the minimum down on the lease and make monthly payments. Would Volvo cut me a check for the difference say 12-13K.
Whats my best option I really dont want to go through the hassle of selling it myself but may if they dont give me enough.
#190 of 734 Re: Sell owned S40 lease S60 [nybroker]
by kyfdx HOST
Aug 20, 2006 (2:01 pm)
It is basically two separate transactions... They buy your car from you.. then, you lease their car..
They will cut you a check for the full amount of trade-in allowance, or deduct your start-up costs and cut a check for the difference, whatever you prefer..
If they won't give you what you think it's worth, then your only other option is to sell it to someone else.
#191 of 734 Re: Found great lease deal in NJ for '07 S60 2.5T [carforevan]
Aug 20, 2006 (7:20 pm)
Not sure what the figures are for the AWD. The program thru Aug. 31st is for the 2.5T ASR FWD. If you're waiting for the AWD then who knows maybe next month will be your turn to get a deal (last month the deal was for the S40). Turning in an Acura 3.2 TL-S next week (got a great deal on that too--took an '03 when the newly designed '04s were coming in). Had the inspection--no problem at all and Acura is a real class act--give you $1,500 for excess wear/tear (as long as the damage per "incident" does not exceed $500) and no BS dispo. fee. Very generous indeed (they also sent me a $100 gift card to try to lure me back--used it instead to buy Acura swag for my dad and I--hats, coffee mugs, travel bag and some wiper fluid to boot). Too bad the lease programs for the TL are so bad. All I had was a $200 cracked fog light cover--I joked with the inspector that I should knock the car around a bit more to get my money's worth. My dings and dents (and there were several) were all within the limit. Also recently had my wife's Saab inspected (same guy did both cars--I think the company is SGS). We had no problems then either (but Saab was not generous at all--I think they gave you no free excess wear/tear and they also stuck you with a $350 dispo. fee). The Odyssey replaced the Saab (got the Touring edition--I have to admit that I it really is a nice ride). However, I don't know what US Bank provides on excess wear/tear (I do know there's a dispo. fee--waived if you re-up on another vehicle). So, you may have nothing to fear after all. Best of luck though!!!
#192 of 734 Re: Found great lease deal in NJ for '07 S60 2.5T [biggerdaddynj]
Aug 21, 2006 (3:55 am)
I'm going out today to make a deal on an '07 S-60 AWD (hopefully). I'll let you know how I do. By phone we're down to 15k miles for 36 mos MSRP 37,575 and sellng price of 28K. Payments are around $390. Will try to move it a bit in person, but it's already a good deal I would think with that price. No cap money down of course.
I'll post again tonight after I buy.
Oh, also, when you say Saab wasn't good about the excess wear and tear...you mean you had to pay some $$$? How much if you don't mind saying...
#193 of 734 Re: Found great lease deal in NJ for '07 S60 2.5T [carforevan]
Aug 21, 2006 (7:30 pm)
My point about Saab was that as I recall I don't believe they provided you with a "credit" for excess wear/tear whereas Acura gave you a $1,500 credit. However, we still didn't have to pay for any excess wear/tear (and they car did have the inevitable dents and scratches--almost had to pay for a tire but I convinced the inspector to check another part of the tread!!!). In the end, we only had to pay the dispo. fee but I hated having to do that. Seems like you've done a great job getting that price down on '07 S60 AWD. Now you just need to get the best lease program out there!!! Good luck. Let us know what happens.
#194 of 734 Volvo S60 2007 Lease Using Ford A-Plan
Aug 21, 2006 (9:06 pm)
I hope to lease my first Volvo S60 this week. I have Ford A-Plan available. (1)How well does A-Plan help me on a 2007 Volvo lease? (2)If I need 20K miles/year and would like an S60 2.5T or T5 with leather, no NAV, what mo. payment should I expect with $2,000-$2,500 down? (3)Do I really need to negotiate if I use Ford's A-Plan on the deal?
#195 of 734 Re: Found great lease deal in NJ for '07 S60 2.5T [biggerdaddynj]
Aug 22, 2006 (4:14 am)
Picked up the car last night. I did a little better in person and ended up at $380/month. It was funny, I had talked to one area dealership and the salesaman was such a jerk...telling me "you're not getting leather for that price".. etc. I insisted I was, and his reply was "well, go buy the car then!". I said I WILL!
Car handles great and I'm really happy with my purchase. The onething I can't figure out: I hear from everyone "just don't buy the car at the end of the lease". My purchase price at the end of three years is $17,500. I don't see how that wouldn't be an offer not to refuse as I could never buy a three year old car at that price. But this is my first lease so, I could be missing something. If anyone has any info on that point, I'd be interested in hearing it......
#196 of 734 Re: Volvo S60 2007 Lease Using Ford A-Plan [severancehall]
Aug 22, 2006 (4:26 am)
Can I ask why you want to put money down on a lease??
As for price of the lease, incentives that I know about (car man...correct me if I'm wrong, also not sure when these expire) are about $7K. So this comes off of MSRP as a minimum. Then you can comparison shop around your area and see who will give you the best price. If you're in the NY area, let me know and I'll pass along more details on my deal and where you can find it. Be sure to get at least 12K or 15K miles per year. These "offers" for 10.5K are a joke. 12K/year is the insurance standard. I know of someone who actually bought and insured a second car because it was cheaper than paying the excess mileage charges he was headed for. Those kinds of deals give leasing a bad name.
I don't know about the A-plan and all that means, although I heard them say that's the plan they used for my lease. Hopefully someone else can shed some light on that. Good luck with everything!!
#197 of 734 Re: Found great lease deal in NJ for '07 S60 2.5T [biggerdaddynj]
Aug 22, 2006 (9:17 am)
I spoke to the Bridgewater Volvo people this morning, and told
them I wanted this exact same deal (metallic color, $289 a
month with no cap cost reduction upfront). The sales guy
told me that he had the deal, but among the other upfront
costs, mentioned a "dealer fee" of about $500, which brought
the total drive-off cost (including taxes) to about $2500.
This "dealer fee" is not the acquisition fee, right? This is something
I should negotiate down?
#198 of 734 Re: Found great lease deal in NJ for '07 S60 2.5T [carforevan]
Aug 22, 2006 (10:31 am)
The onething I can't figure out: I hear from everyone "just don't buy the car at the end of the lease". My purchase price at the end of three years is $17,500. I don't see how that wouldn't be an offer not to refuse as I could never buy a three year old car at that price.
Well... depends on what the apprehension is. Many people think that an advantage to leasing is never having a car out of warranty. Buying the car at the end of the lease means you will have a car out of warranty.
The other issue, for this particular instance, is that volvos depreciate harshly. $17,500 is just an OK price. Compare to an '04 with 36k miles, leather, heated seats, moonroof, etc. and edmunds says trade-in is $16,500. Edmunds is typically high, so I think it would be more like $15k-$15,500. SOOO... at $17,500, you'd be paying near retail for the car. Its not that you shouldn't do it, since that's not a bad price (although this is based on today's numbers. the car could be worth more or less at the actual end of your lease depending on the market at that moment.), but it definitely wouldn't be a deal you couldn't refuse.