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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
You are in the Prices Paid: Buying & Leasing Experiences Forum. Your Hosts are car_man & kyfdx
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Replying to: conran (Feb 20, 2008 10:32 pm) Of course you really aren't saving that money... But, on the plus side, it looks like they use the higher number ($36,300), to calculate the residual (43% of $36,300), so that is why the payment is nice and low... It's a decent lease deal... if you can live with a 4-year lease.. (I can't..lol) regards, kyfdx |
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Replying to: conran (Feb 20, 2008 10:32 pm) Bank residuals are gonna drop in March. Plus, Volvo is not committed to lease incentives for the S60 much past March anyway. So, I doubt you will see any increase in factory support, and you will have a lower residual to boot. |
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Replying to: eights38 (Feb 19, 2008 8:40 pm) 
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Hi Car Man, My 2 Volvo leases are up in June. I am happy to buy them out OR lease new ones-My main concern is COST. Here are the #s S-80-2.5Tawd,leather,40K miles(by June) 1)My Cost to buy out lease:$24,000 plus 5% interest rate /5 year loan on $ I would use to buy,or $481/Mo,total Interest paid over life of loan=$3,200. 2) My cost to turn in car, $2kmileage,$2Krepairs- $1K allowance=$3,000 3)Kelly Blue Book Value=Trade-$16.2,PrivParty-$18.8,Retail-$22.7 4) My cost to lease a new s80, which is what I would do, for a similarly equipped car and 36 m,15K lease I estimate at $450/mo, but have done very little research. S60 2.5Tawd,leather,30kmiles (by June) 1) My cost to buy out lease=$20,400 plus 5% interest rate /5 year loan on $ I would use to buy, or $384/mo.Total Interest paid over loan=$2700 2) My cost to turn in car= $3K repairs less $1K repair allowance=$2,000 3) Kelly BBValue=Trade-$15.8,privPrty-$18.2,Retail-$22.1 4) My cost to lease a new s-60, similarly equipped, 36M, 15K, which I would do, is approx. $350-$400/mo, but I have done very little research. So,do I start shopping or buy the cars-or just one of them-when the lease is up in June? I am trying to reduce my expenses- and I have 3 teenage drivers in the family(that explains all the repair costs...) Any help is much appreciated.
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Replying to: s60leaser (Feb 24, 2008 10:18 am) I'm making that assumption since you say the S80 with 40k miles will cost you $2k in mileage fees (10k miles x 20 cents?). And, if that is the case, you probably shouldn't lease another one at 15k/yr since you will go over by 15k total miles over the 3 years.
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Replying to: qbrozen (Feb 25, 2008 5:28 am) Yes they are both 2005, both are 10K miles/year, so I could go with 15K and be OK. THe s80 is currently at 36K but I assume 40K by lease end.The s60 is fine with miles, but needs Cosmetics  2K Does that help? Do you think the RV is negotiable on these?
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Replying to: s60leaser (Feb 25, 2008 8:02 am) You also may want to think twice about financing them for 5 years if you do buy them out. I mean, you gotta do what you want, but just think that they will be 8 years old before you are done paying for them.
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Replying to: qbrozen (Feb 25, 2008 3:09 pm) Even if I have to pay $ for mileage and cosmetic/repair to turn in? Thanks so much for the input. I hadn't considered the "8 yrs old" point..
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Replying to: s60leaser (Feb 25, 2008 4:21 pm) Of course, that is $5k over trade-in value, which is different than retail value. Retail value would be $1500-$2k over trade-in. So, even at $17k retail, you'd be paying $3k more than that. (if I'm recalling the S60 number correctly, which was about $15k, correct?) I think the S80 was even worse, was it not? |
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Replying to: qbrozen (Feb 26, 2008 9:13 am)
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