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Volvo S60 Lease Questions

737 messages,  Last post on May 24, 2013 at 7:23 AM

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

Messages Page 39 of 75

#373 of 737 Re: 2007 Volvo S60 T5 Price Opinion [wokscott] by ausdtech

Jun 04, 2007 (11:24 pm)

Replying to: wokscott (Jun 01, 2007 12:04 am)
The numbers are definitely not right on this. Using the data you provided and a lease worksheet I came up with about $340/month including 8.25% tax. They are packing the payment with something.
 
Well, to be precise, the numbers are good but they don't add up right.
 
Using Edmunds simple lease calc:
 
1.Sticker Price of the car plus options $37,725
2.Times the residual value percentage X.41
3.Equals the residual value= $15,467
4.Invoice price of car minus incentives (net capitalized cost) $23,900
5.Minus the residual (From line 3) - $15,467
6.Equals the depreciation over 36 months= $8,433
7.Depreciation divided by term in months÷ 36
8.Equals the monthly depreciation payment=$234.25
9.Net capitalized cost (From line 4) $23,900
10.Plus the residual (From line 3) + $15,467
Equals = $39,367
11.Times the money factor X .00207
12.Equals money factor payment portion= $81.49
 
13.Monthly depreciation payment $234.25
14.Plus money factor payment portion + $81.49
15.Equals bottom monthly lease payment = $315.74
16.Plus tax (using 8.25 as an example) $26.05
17.Total Payment $341.80

#374 of 737 Re: 2007 Volvo S60 T5 Price Opinion [ausdtech] by qbrozen

Jun 05, 2007 (10:05 am)

Replying to: ausdtech (Jun 04, 2007 11:24 pm)
well, doc fees, acquisition fee, and security deposit might tack on another $1200 or so ... but i think that would still only be like $380-$385.

#375 of 737 Lease then payoff? by wingnut6

Jun 05, 2007 (11:11 am)

I am wondering if it makes any sense to lease and then purchase the car after a month or so. Current incentive is $10,000 off msrp w/ lease & $8,000 off msrp w/ purchase.
 
Does it make any sense to do this to save $2,000, or will there be prepayment penalties and will the payoff amount be too inflated to payoff and make it worthwhile?

#376 of 737 Re: Lease then payoff? [wingnut6] by qbrozen

Jun 05, 2007 (11:18 am)

Replying to: wingnut6 (Jun 05, 2007 11:11 am)
I think it absolutely makes sense for this car.
 
However, will you be paying off in cash or with a loan? Reason I ask is I'm not sure how the bank will calculate the interest. If they pack it all in up front, there's actually no point in paying it off because it won't save you any interest. Worse yet, if you are paying it off with a loan, you will be paying interest on the the interest.
 
So unless the bank does not pile it all on up front, I would pay the monthly lease payments and wait to buy it at the end of the lease.

#377 of 737 Re: 2007 Volvo S60 T5 Price Opinion [hts666] by djkronik57

Jun 05, 2007 (1:19 pm)

Replying to: hts666 (Jun 04, 2007 11:18 pm)
Wow, that's a big difference in payments. My payment originally started at $524 a month and I negotiated down to $499. Do you remember what the first offer was they gave you or how much you negotiated it down? I'd prefer a 36 month lease but they insisted it would be much more expensive. I just have no idea of how much they're actually profiting on this, so I have no idea how much to negotiate. Any help would be appreciated!

#378 of 737 Re: 2007 Volvo S60 T5 Price Opinion [djkronik57] by hts666

Jun 05, 2007 (2:39 pm)

Replying to: djkronik57 (Jun 05, 2007 1:19 pm)
Actually that was the first quote I got from the dealership, I didnt do any negotiating and I dealt directly with the fleet manager. I called up a few other dealers and nobody could match it. The closest they came was higher by about $20/month.
 
I asked about the difference between 36 and 48 month leases and 36 months was a bit lower. Also, the difference between 12k and 15k miles was about $15 per month.
 
The dealership is in Los Angeles, so I'm not sure if there would be a price difference in other parts of the country, or if they would have better incentives.
 
Here are the exact terms of the lease.
 
15k/month for 36 months
 
msrp was around 45k
cap cost: $29989.76
drive off: 2k (tax, registration, doc fees, 1st months payment and $250 down payment)
residual: $19304.85
monthly: 438.96 + 36.04(tax), $475.00 total
its through US Bank.
 
Hope this helps.

#379 of 737 Re: 2007 Volvo S60 T5 Price Opinion [hts666] by djkronik57

Jun 06, 2007 (5:43 am)

Replying to: hts666 (Jun 05, 2007 2:39 pm)
Thank you for your help hts666. Was yours an automatic S60R? That's the only thing I can think of that my explain the difference in price, as they said the leases were better on automatics. My cap cost is $35,000 but my residual is $15,000. The residual I understand due to the difference in lease lengths. But the cap cost is $5000 different!

#380 of 737 Re: 2007 Volvo S60 T5 Price Opinion [djkronik57] by hts666

Jun 06, 2007 (12:15 pm)

Replying to: djkronik57 (Jun 06, 2007 5:43 am)
Yes, its an automatic. No manuals to be found in LA unfortunately.
 
Have you contacted other dealerships in your area? Are they offering the same deals? If all other offers are very similar then its probably safe to say that thats the best deal available.
 
Good Luck!

#381 of 737 Good Deal? - need help by mlroberts55

Jun 09, 2007 (7:01 pm)

is this a good deal on a 2007 S60R? if not, please tell me what would be.
 
Term: 48 months, 18K miles
MF: .00320 = 7.68%
MSRP: 48,070
Residual: 33%
Negotiated Price: 35,200.00 (this includes 10K reduction from volvo special
total trade info: $1,0000
I have a $3,000 milage penalty becuase i really need 20K miles a year
sales tax $1,512.50
Adjusted cap: $34,372.30 (I have a car I own I am trading in)
Monthly payment $599.25
Total amount due at signing incld 1st mo. payment 4,000.
The MF and residual is what i was quoted by the dealership using Chase

#382 of 737 Re: Good Deal? - need help [mlroberts55] by realtorken1

Jun 10, 2007 (5:30 am)

Replying to: mlroberts55 (Jun 09, 2007 7:01 pm)
I would have to say no, but wait for the experts.

Messages Page 39 of 75

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