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Prices Paid: Buying & Leasing Experiences Volvo S60 Lease Questions
552 messages, Last post on Feb 28, 2008 at 9:20 AM
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Replying to: sparty411 (Jan 16, 2008 6:29 pm) The monthly payment for this car came to $366.87 before state tax. Actual MSRP - $35,625 But he used what he called CRV of $38,100 to caluclate residual Adj. Grs Cap cost - $26,895 ( after all his rebate money available off the $35,625) Residual - .43% (x $38,100) = $16,383 Total Depreciation - $10,512 ( $26,895 - $16,383) Monthly Dep - $292.00 Mo. lease chg. $ 74.87 Total due at signing - $1394.96 (1st mo+tax385.21+ $39.75 tax + $970 GAP ins./ Acq Fee / lic & registration fees) I did this deal in Massachusetts.
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Replying to: slesser (Jan 17, 2008 10:18 am) Based on what you listed above. You can write a check for $1,394.96 for a car with a $35,625 msrp and then pay $385.21 per month. These numbers even include the 5% sales tax. I am not shocked so much by the payment as I have been able to lease an S60 in the past for $399 per month tax included. What surprises me is the residual of $16,383. If you took this deal and paid the $1394.96 and then 35 payments of $385.21, that totals $14,877.31. Now at the end of the lease, you buy it for $16,383 + 5% sales tax, which is $17,202.15. You now own the car and have a total of $32,079.49 invested. Compare this with a purchase. The invoice on this car is $33,395 and Edmunds shows a $2500 dealer cash incentive. If you could get the car at invoice and get the entire $2500 incentive, that puts you at a price of $30,895. Add the 5% sales tax gets you up to $32,439.75. So, if you had the money in your hand to buy the car at this price. It actually saves you $360 to take the lease and that assumes that you did absolutely nothing with the $32,000 to earn interest over the next three years. I have seen some deals where the lease was almost equal to a purchase but nothing where it was actually cheaper. There most be a lot of incentive money available that is not published. Anyway, thanks again for posting and I would say very sweet deal.
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Replying to: snaproll (Jan 19, 2008 4:39 pm) |
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thinking of leasing s60 2008 demo 7-8k miles. here is the pricing..... MSRP: 35150 Invoice: 32987 Sellling based on:23955.39 43 % resi. 36 month warranties are good for 36 months. miles start at 0 premium/climate/AWD Black/Black $349mth-taxes included $ 741 down If anyone can tell me what they think greatly appreciate it!
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Replying to: bestbuy08 (Jan 22, 2008 6:50 pm) |
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Replying to: bestbuy08 (Jan 22, 2008 6:50 pm) This is what I found. MF .00173 Fees 349/1st payment 7.50 tires 125 doc fee 359 reg I look forward to your response.
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Replying to: bestbuy08 (Jan 23, 2008 9:42 am) That is a GREAT deal, from what I can see. You've got a good money factor on top of a deep rebate, and no unreasonable fees. I plugged all your numbers into Edmunds lease calculator and came up with ~$351. So it sounds like the $349 payment you were quoted is right on. And I must say, a damned nice car for $350/mo. congrats!
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Replying to: qbrozen (Jan 23, 2008 10:12 am) I came up with 335.09? I'm not great at this. Tell me if you would where I went wrong. MSRP: 35150 Resi: 43% -------- Resi$: 15114.50 Selling Pr: 23955.39 Res: 15114.50 -------------- Used: 8840.89 /36 mths -------------- 245.58 Selling Pr. 23955.39 Res $: 15114.50 -------------- 39069.89 MF .00173 ----------------- Interst 67.59 Payment 245.58 ---------------- Mth/Int 313.17 Tax .07 ---------------- 21.92/mth Mth/Int 313.17 ------------- 335.09 They quoted me $349 plus 741 down. According to my calc. I think they should come down another 10/mth to be fair? |
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Replying to: snaproll (Jan 19, 2008 4:39 pm) She currently has a 2002 Mazda Tribute with only 36,000mi, all paid for. So in 3 more years this should have about 55K, it will easily go another 3 years. With no car payments for another 3 years. |
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Replying to: bestbuy08 (Jan 23, 2008 10:28 am) So, there is prob an acquisition fee rolled into the lease. Unless the bank is M&I. Your dealer quote makes sense w/ an acq fee.
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