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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: 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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Replying to: s60leaser (Feb 26, 2008 12:15 pm) And I think that is one of the good parts of leasing. At least when it works out like this. You have paid less for the car over this term than you would have had you purchased it. I have 2 leases right now, too. And neither is worth now what the end of the lease buyout is. So, in other words, come the end of the lease, the cars will be worth far less than the buyout amount. Lucky me because I just need to turn them in and walk away, allowing the manufacturer to eat the negative. |
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Replying to: s60leaser (Feb 26, 2008 12:15 pm)
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