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Volvo S60 Lease Questions

735 messages,  Last post on May 19, 2013 at 9:03 AM

You are in the Prices Paid - Buying & Leasing Experiences Forum.

What is this discussion about? Volvo S60, Volvo S60 R, Car Leasing, Sedan

Messages Page 32 of 75

#303 of 735 Re: Lease Deal Analysis [mskrin99] by Car_man HOST

Dec 21, 2006 (12:13 pm)

Replying to: mskrin99 (Dec 16, 2006 5:53 pm)
Welcome mskrin99. Since you are new to the world of leasing, you definitely should check out the following informative articles that are available here at Edmunds.com prior to visiting any dealers: 10 Steps to Leasing a New Car and Calculate Your Own Lease Payment.
 
The car that you described has a spread of around $2,500 between its full MSRP and dealer invoice price. You were quoted a whopping $11,675 discount on this car. It appears as though you are leasing this car through an independent bank. Volvo is currently providing a $3,500 cash incentive on leases of 2007 S60 2.5T AWD models through banks other than Volvo Finance. This gives you a total of $6,000 to work with. I'm not sure where the other $5,000 and change discount is coming from here, but to give you a point of reference, I will calculate how much it would cost to lease this car through Volvo Finance right now. Let's say that you were able to lease it through Volvo Finance with a $2,000 discount, which would be right around $500 over invoice. According to my calculations, if you were to lease a 2007 Volvo S60 2.5T AWD with an MSRP of $38,675 and a selling price of $33,675 (a $2,000 discount minus $3,000 lease cash) through Volvo Finance right now for 36 months with 15,000 miles per year, your zero down, pre-tax monthly payment should be around $449. With a $1,300 down payment like you mentioned in your post, this payment would drop to around $412.
 
You're right about the bank fee being too high. I don't know exactly what sort of acquisition fee the independent bank that you are leasing through charges, but Volvo Finance only charges a $595 acquisition fee on leases.
 
Car_man
Host
Prices Paid Forum

#304 of 735 Re: 2007 S60R lease incentives - new deal [bornracer] by Car_man HOST

Dec 22, 2006 (9:54 am)

Replying to: bornracer (Dec 19, 2006 7:49 am)
Hi Bornracer. I still think that it is strange that US Bank would offer any sort of cash incentive on a lease of a vehicle. Manufacturers' captive finance companies' have an incentive to provide cash on vehicles because they help their parent companies sell vehicles, but independent banks do not. Anyhow, Volvo Finance's current buy rate lease money factor and residual value for a 48 month lease of a 2007 Volvo S60 R with 12,000 miles per year are .00080 and 42%, respectively. The money factor that you were quoted for US Bank, .00232, isn't terrible. It's equivalent to an interest rate of around 5.568%.
 
Car_man
Host
Prices Paid Forum

#305 of 735 Re: 2007 S60R lease incentives - new deal [volvomax] by Car_man HOST

Dec 22, 2006 (10:30 am)

Replying to: volvomax (Dec 19, 2006 9:23 am)
Volvo Finance definitely is providing special lease money factors on the 2007 S60 R in many parts of the country. Having said this, one may indeed be better off taking advantage of the cash incentives and leasing through an independent bank.
 
Car_man
Host
Prices Paid Forum

#306 of 735 Re: 2007 S60R lease incentives - new deal [Car_man] by volvomax

Dec 22, 2006 (10:40 am)

Replying to: Car_man (Dec 22, 2006 10:30 am)
Umm, they are providing special lease rates on the V70R.
The program we have is good in all markets except NY.

#307 of 735 Re: 2007 S60R lease incentives - new deal [volvomax] by iaswede

Dec 25, 2006 (2:53 pm)

Replying to: volvomax (Dec 22, 2006 10:40 am)
volvomax,
 
would you be willing to share the basics info on those lease rates? The volvo website never seems to have any information on leases, perhaps designed so you need to visit the dealer.

#308 of 735 Re: 2007 S60R lease incentives - new deal [iaswede] by volvomax

Dec 26, 2006 (9:27 am)

Replying to: iaswede (Dec 25, 2006 2:53 pm)
Nothing to share. Volvo doesn't have a special lease program for the S60 R, period.
Maybe in NY state they do, but no where else.

#309 of 735 Need answer ASAP --- Downpayment question by bornracer

Dec 27, 2006 (9:05 am)

A friend is looking at leasing volvo also through US Bank and he wanted to reduce the monthly by putting a downpayment as a cap cost reduction.
 
As everyone has posted, I warned him that if in a total or theft incidence, he would lose that money. He should rather put it against the security dep to lower the MF.
 
He asked the dealer and they stated US Bank does not take extra security deposits. The dealership further stated that the lease includes GAP insurance, so he would not lose any of his cap cost reduction(downpayment) if he put money down.
 
Please advise if this is true?

#310 of 735 New to Volvo by campbellkeet

Feb 02, 2007 (5:17 pm)

I am considering leasing a 2007 S60 2.5T. Are there any incentives currently. I am not in a big hurry and can wait until summer if that is the better time to lease.
Also, what is required to maintain the car for the first 3 years assuming 15,000 miles per year. How do insurance rates on Volvo's compare to other cars. THANKS. I have learned a lot already from this forum and look forward to your comments and suggestions.

#311 of 735 Re: Need answer ASAP --- Downpayment question [bornracer] by volvomax

Feb 02, 2007 (5:25 pm)

Replying to: bornracer (Dec 27, 2006 9:05 am)
downpayment money on a lease is always gone.
GAP insurance doesn't mean he would get the money back.
GAP only means that IF the cars value was less than the lease payoff amount the policy would cover that difference.

#312 of 735 Re: New to Volvo [campbellkeet] by volvomax

Feb 02, 2007 (5:26 pm)

Replying to: campbellkeet (Feb 02, 2007 5:17 pm)
while there may be more incentive money at the end of the model year, the residuals will be lower and the selection won't be as good.
Chances are you won't save much at all by waiting.

Messages Page 32 of 75

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