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You are in the Prices Paid - Buying & Leasing Experiences
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Volvo S60, Volvo S60 R, Car Leasing, Sedan
Feb 02, 2007 (4:17 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 789 Re: Need answer ASAP --- Downpayment question [bornracer]
Feb 02, 2007 (4:25 pm)
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 789 Re: New to Volvo [campbellkeet]
Feb 02, 2007 (4:26 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.
#313 of 789 Lease deal on S60 2.5T base
Feb 17, 2007 (11:29 pm)
I am new to lease. I went to the local Volvo dealer today to check out the lease deal on S60 that without any options.
Here is what I got.
12000 miles/year for 3 years
Tax: $2131.65 (IL, 6.75% on MSRP)
Plate: $ 143
1st payment: $ 299
Out of pocket $2573.65
I have the option to buy the car at the end of lease for $13579.40 or pay $350 to return to dealer.
Does above figure sound right?
#314 of 789 Re: Lease deal on S60 2.5T base [rriul]
Feb 19, 2007 (3:33 am)
Hi rriul. The 2007 Volvo S60 2.5T Base model appears to be the only S60 trim level that there is a special lease on through Volvo Finance right now. Volvo Finance's current buy rate lease money factor and residual value for a 36 month lease of one through Volvo Finance with 15,000 miles per year are an amazingly low .00001 and 46%, respectively. When negotiating your lease on this car, make sure to take the $2,000 lease cash that is currently available on it into account. This cash will help you to negotiate an attractive capitalized cost for your lease.
I'd be happy to give you my opinion on the specific lease that you were quoted, but you never mentioned this car's MSRP or selling price. Let me know what they are and I'll tell you what I think.
Prices Paid Forum
#315 of 789 Re: Lease deal on S60 2.5T base [rriul]
Feb 21, 2007 (9:54 am)
based on carman's numbers, i can't come anywhere NEAR $299/mo. So it sounds like you are getting a screaming deal.
Using the .00001 MF and 46% residual, and a selling price of invoice minus $2k rebate on a no-options 2.5T, I come up with a payment of $326 BEFORE tax. Almost $350 after tax. And that's with an even $3k down. You are putting less down and getting a payment $50 under that. Of course, you are talking 12k miles instead of 15k, but that usually only makes a difference of around 2% on the residual, which makes a difference of ~$18/mo. So, assuming carman's numbers are correct, I think you should jump on it. By my calculations, you are getting the vehicle for about $700-$800 UNDER invoice PLUS the extra $2k off.
I'm hoping to find that deal for my brother-in-law, but I'm seriously doubting I could.
#316 of 789 Re: Lease deal on S60 2.5T base [qbrozen]
Feb 21, 2007 (5:13 pm)
Thanks for the info.
The dealer uses MSRP $31580 (including destination charge) as the purchase price.
#317 of 789 Re: Lease deal on S60 2.5T base [rriul]
Feb 21, 2007 (6:38 pm)
I forgot to mention that dealer has $7500 cash back (something around there) on the lease.
#318 of 789 Re: Lease deal on S60 2.5T base [rriul]
Feb 22, 2007 (6:15 am)
OHHHH!!! Interesting. So they aren't using volvo finance, then, if I understand everything correctly. Do you know what money factor and residual you are getting?
#319 of 789 Re: Lease deal on S60 2.5T base [qbrozen]
Feb 22, 2007 (11:25 am)
After 3 years, the residual is $13579.40 which I assume is the price to buy if I am going to purchase the car at the end of lease. I did not ask for the money factor.