Last post on Nov 23, 2013 at 9:48 AM
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Volvo S60, Volvo S60 R, Car Leasing, Sedan
#284 of 789 Re: 2007 S60R lease incentives [bornracer]
Nov 22, 2006 (4:54 am)
You are absolutely right, bornracer. The money factor that you were quoted for this car is absurd. Volvo Finance's current 48 month buy rate lease money factor for the 2007 S60 R is only .00080. If you decide to lease through an independent bank instead of Volvo Finance, this car is eligible for a $5,500 cash incentive. If I was quoted the deal that you mentioned, I personally would shop around with a different dealer.
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#285 of 789 Re: Volvo S60 Lease Deal [briananderson9]
Nov 22, 2006 (4:57 am)
Hey Brian. According to the latest information that I have seen, Volvo Finance's current buy rate lease money factor and residual value for a 36 month lease of a 2007 Volvo S60 2.5T base model with 15,000 miles per year are .00108 and 48%, respectively. I would be happy to give you my opinion of this deal, but in order for me to do so I need you to provide me with this car's MSRP and selling price.
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#286 of 789 2007 S60 lease offer
Nov 25, 2006 (5:31 pm)
Hi Car man,
We've enjoyed reading your helpful posts. Keep up the great work!
Is this a good lease deal:
2007 Volvo S60 2.5T base model(no premium,no sport)
dealer price: 30012
cap cost:27512=( 30012-2500)
residual: 15790( 50%)
money factor: .00155
up front costs= 1124
monthly charge= 445
#287 of 789 2007 S60R lease incentives - new deal
Nov 29, 2006 (11:29 pm)
Aprreciate the feedback on the volvo lease.
Prior to your response, the dealer has informed me of a new lease deal on 2007 S60R going through US Bank.
MSRP: 47290 ($44093 is invoice) Profit=$3197+$389 holdback
Lease incentive from USB: 9500
Cap cost: 36000 (got an extra $1790 off MSRP)
Fees(doc+ govt + inventory tax): 259.31
Sec Dep: 550
initial payment(sec dep+1st pmt): $1086.31
Residual: 17497.30 (37%)
mo. pmt: 536.31
For some reason, I feel like there is something left on the table. I have a beacon of over 800.
Do you know what MF I should be paying from US Bank?
Dealer stated this is a tax "free" lease.
Not sure who covers the 6.25% texas tax based on entire cap cost. volvo, US Bank, or dealer?
If volvo or US Bank are responsible, dealer is making about $1800.
If dealer responsible for tax, then they are not making anything unless US Bank is kicking something back to them such as a funding fee which could be $500-$1000.
1). Do you know who is paying tax?
2). By the way, I do qualify for X-plan ($44241) but dealer stated this does not qualify for tax included deal.
3) Based on your comment before about the $5500. Would this be in addition to the 9500 US bank is throwing in?
4). Does it seem reasonable or doable to get x-plan - US Bank discount - Volvo credit. $44093-$9500-$5500?
thanks in advance.
#288 of 789 Volvo S60 lease
Dec 03, 2006 (10:42 am)
Hello Car Man,
Can I get your opinion on this lease?
Volvo S60 (2007)
Metallic Paint, Luxury Pkg (lthr, heated seats, sunroof...) MSRP of around $35k + change
3 year 36,000 lease. Monthly payment with tax of $350 with $665 out of pocket.
Your feedback is appreciated,
#289 of 789 lease questions
Dec 06, 2006 (5:11 am)
Hello car man,
A.) I have been reading that if you are going to put any money down on a lease, you should add it to the security deposit?
1). What does this do for you(is there any benefit)?
2). if the car is totaled, wrecked, or returned early, do you lose it(are there any negatives)?
B). Can a lease agreement be modified if you do not like the language or you need a more defined statement in writing(not just a scribble on a napkin from the dealer).
For instance, what actually constitutes normal wear and tear?
or who inspects the vehicle upon return? can I have an independent shop give a second opinion?
#290 of 789 Re: lease questions [bornracer]
Dec 06, 2006 (6:34 am)
I am not carman but I just turned in a Volvo off lease so I thought I would share my experience. The car was leased on Volvo paper and it comes with "wearcare" which basically waves the costs to you of the first $1,000 of excess wear and tear. About 2 mos before the lease ended, volvo sent us a detailed brochure and measuring tool so we would know what we potentially could be charged with. I tend to be concerned about wear and tear especially when it is not specifically spelled out at the time the lease is signed but in this case, Volvos parameters were more than reasonable. We had a couple of scratches in the bumper which were considered excess wear and tear but since the cost was well below $1,000, we did not have to pay anything. There were a couple of small doors dings which were considered below the threashold for excess wear and tear.
#291 of 789 Re: lease questions [dmauto]
Dec 06, 2006 (7:52 pm)
thanks dmauto. not sure if the US Bank option has this in their deal. Did the dealership state this or the contract state you have $1000 toward wear and tear? was it something you negotiated?
#292 of 789 Re: lease questions [bornracer]
Dec 08, 2006 (5:19 pm)
the wearcare is something that came with the car i turned in - the car was leased on volvo paper. not sure what us banks guidelines are on this - you could call them to find out.
#293 of 789 Re: lease questions [bornracer]
Dec 09, 2006 (9:00 am)
US Bank does not include wear insurance.