Last post on May 19, 2013 at 9:03 AM
You are in the Prices Paid - Buying & Leasing Experiences
What is this discussion about?
Volvo S60, Volvo S60 R, Car Leasing, Sedan
#665 of 735 Re: Help! 1st Time Leasing - 2012 S60 [enjoyablegabi]
Apr 21, 2012 (10:05 am)
What's the sale price? Did you get $1,000 loyalty cash which is available to you as a Volvo owner? Acquisition fee is $695-995 if financed through US Bank (Volvo finance bank). I can only tell you how much it should be if I at least know answers to my questions. You should read about leasing first to understand how it works. It should be somewhere on edmunds.com or just google it.
#666 of 735 Re: Help! 1st Time Leasing - 2012 S60 [enjoyablegabi]
Apr 21, 2012 (4:53 pm)
BTW. You should consider buying it instead of leasing. It's a straight forward deal for you, unlike leasing. Volvo currently offers 1.9% for 72 months. If you get the car with MSRP 35,820 at invoice and get $1K loyalty your payments will be around $465/month with $1.5K down and paying sales tax (I believe it's 9.25% in the Chicago area) and all other fees upfront with the remainder of your trade-in ($3.5K). Or you can roll you sales tax into the monthly payments and increase down payment. You can play with numbers on online car payment calculator.
#667 of 735 Just Leased S60 T5 - did I get a good deal?
Apr 21, 2012 (8:27 pm)
I traded in my 2007 S40 2.4i (with 52K miles) of which payoff was $11k.
I leased the S60 T5 with Climate Package, and Premium Package and 12Kmiles/year for 36 mths
I got Net Cap Cost $31,802.
Base Payment $349 with $1094 down and they are paying off my S40.
Good deal or not?
#668 of 735 First Lease - So many questions
Apr 24, 2012 (6:22 pm)
I currently finance my 2009 VW Jetta SE 24700 mi on it and am looking into leasing a Volvo S60 T5, MSRP $35,070. I am 3 years into my loan and currently owe about $15,900 on it. Considering I'd have to "rollover" my current loan to go to a lease now, what is the price range I should be looking in to consider it a good deal. I'd put a max of $1000 down initially to cover fees and first months payment. Many thanks!
#669 of 735 Re: First Lease - So many questions [huny409]
Apr 25, 2012 (6:54 am)
How in the world, after 3 years, do you still owe $16k on a Jetta SE?? The original MSRP was only $20k.
You either financed for an absurdly long time or you already rolled a great deal of negative equity into it.
If you are lucky, they will give you $12k for your car, which means you are still $4k in the hole. I STRONGLY suggest you don't roll that into a lease. PLEASE, keep your Jetta until you are right-side up and stop digging this hole.
#670 of 735 Re: First Lease - So many questions [qbrozen]
Apr 25, 2012 (9:26 am)
Hi gbrozen - You're right, I did roll over some inequity when I got this car. The loan also included an extended warranty that I purchased (which I know I can get a prorated refund - not much, but I know some). And since I keep rolling over inequity, I felt that leasing was a better way to go (along with low mileage, want for a new car every few years, etc).
My question is, how is it any different to pay the difference in what I owe until I'm right side up, vs. putting a down payment on a lease (which I'm aware, they say not to do it - besides the obvious of paying towards something that I will own)?
#671 of 735 Re: First Lease - So many questions [huny409]
Apr 25, 2012 (10:09 am)
First off, let me say I've been there MANY times myself and you will always find a way to rationalize the next car. So I'm just trying to help someone avoid my same mistakes.
The difference is you will be paying more for the lease than you would if you had zero negative equity, of course. And, if you continue paying your current loan, your car need will be fulfilled longer for similar money.
Let's break it down this way.
Keep current car for another year:
$300/mo for 12 months = $3600
lease after that at $350/mo for 36 mos = $12,600
total cost = $16,200 for 48 mos of use
Trade now on a lease:
$470/mo for 36 mos (every $1000 you roll into a 36 mo lease is approximately $30 on the lease payment) = $16920 for 36 mos of use
$350/mo for 12 mos on the next lease = $4200
total cost = $21,120 for 48 mos of use
#672 of 735 Re: First Lease - So many questions [qbrozen]
Apr 25, 2012 (7:39 pm)
Thank you SO much for that breakdown! It was exactly what I needed for it to make sense!
#673 of 735 Re: First Lease - So many questions [huny409]
Apr 26, 2012 (7:27 am)
glad to help.
#674 of 735 Re: April MF/residual Volvo S60 T5 FWD [ortega]
by Car_man HOST
Apr 29, 2012 (11:12 am)
Sure ortega. US Bank's April buy rate lease money factor and residual value for a 36-month lease of a 2012 S60 T5 FWD with 15,000 miles per year are .00017 and 54%, respectively for consumers who qualify for its top credit tier.
The numbers for an otherwise identical 48-month lease are .00086 and 45%.
I believe that 15,000 miles per year is the highest mileage allowance that US Bank publishes residual values for. If you need to drive more than that, you may have to purchase additional miles on a per-mile basis. It is less expensive to do so at lease signing than it is to wait until lease-end and have to pay an excess mileage penalty.
Prices Paid: Buying & Leasing Experiences Forum