Last post on Nov 20, 2008 at 10:27 PM
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Volvo V70, Volvo V70 R, Car Leasing, Wagon
Feb 05, 2008 (2:48 am)
Hey qbrozen. Volvo Finance's current buy rate lease money factor and residual value for a 24 month lease of a 2008 Volvo V70 with 15,000 miles per year are .00103 and 60%, respectively. The numbers for an otherwise identical 36 month lease are .00112 and 47%. Its 12,000 mile per year residual values would be 2% higher and its 10k resids would be 3% higher. Volvo is currently providing a $500 cash incentive on leases of the V70 through Volvo Finance. There also is $1,000 owner loyalty cash on it.
Prices Paid: Buying & Leasing Experiences Forum
#13 of 30 Need larger car badly
Mar 01, 2008 (11:53 am)
We have currently a 2006 V70 2.5t. We leased it for 36 months and we will hit 2 year mark in July 2008. We have now have three young boys who require car seats and it is next to impossible to get 3 car seat in the back seat. We are considering moving up to a xc90 with a third row but obviously don't want to pay a major penalty. Our car only has 14,000 miles on it and it's residual is $19,500 at the end of the lease.
Is trading it in now even a possiblity?
#14 of 30 Re: Need larger car badly [murphy4]
Mar 03, 2008 (8:52 am)
Ok, first thing is that you need to know what the current buyout is, not the buyout another year from now. Then find out what the true trade in value of the vehicle is. This is the difference you need to worry about. (as I believe you will find it cheaper this way than paying all the remaining payments right now)
Second, you may want to reconsider the vehicle. If you believe you will have a carseat in the 3rd row of an SUV and live with it, I think you may be mistaken. Every time you go to put one child in the back, you will have to remove a carseat from the 2nd row so you can fold the seat to get to the 3rd row. Then put seat back and reinstall carseat. Not a process I would want to go through everytime I get in the car, personally.
#15 of 30 I don't get it on lease options for V70
Mar 07, 2008 (2:41 pm)
What is it about this model Volvo that the car maker is afraid of...I have been into 3 New York area dealers and I can barely get them to talk to me about the car and they show it only relunctantly. They keep pushing their suv or cx model. I repeated that I came in to see the V70 and they still won't budge. One dealership (in Riverhead New York) would not even talk to me and I left after waiting 30 minutes. They keep saying people do not want to lease this car and once you can get them to give you a quote you see why. The CX costs more but leases for far less. I love the V70 but Volvo seems to run in the other direction when you try to purchase this model. Can anyone explain to me what's up with the V70?
#16 of 30 Re: Need larger car badly [murphy4]
Mar 19, 2008 (1:27 am)
Hi murphy4. I am sorry to say that it is usually fairly expensive to get out of leases well before their scheduled end dates. In order to do so, you need to purchase the vehicle that you are currently leasing from the bank that you are leasing it through. It often turns out that it costs more to do so than your vehicle is worth on the open market. Furthermore, many banks expect consumers who end their leases early to still make all, or at least the depreciation portion of their remaining lease payments. As you can see, this can get very expensive.
You can determine approximately how much it will cost you to get out of your current lease by comparing its purchase price to its value on the open market at this time. You should place a call to the bank that you are leasing your vehicle through to find out its exact price. Once you know exactly how much money it is going to cost you to buy your leased vehicle you need to compare it to its current value on the open market. You can find out approximately what your vehicle is worth by looking up its Edmunds.com True Market Value in the Used Vehicle Pricing section of this site. You also may want to stop by the following discussion: "Real-World Trade-In Values". Don't forget to check to see if you are still on the hook for your remaining lease payments. The difference between your leased vehicle's current value and how much it will cost you to buy it plus any remaining lease payments that you are obligated to pay will equal the cost of getting out of your lease right now. You may find that you are better off waiting until you are closer to the scheduled end of your lease to get another new vehicle.
Prices Paid: Buying & Leasing Experiences Forum
#17 of 30 Re: I don't get it on lease options for V70 [bill165]
May 08, 2008 (6:54 pm)
Hi Bill165, I just wanted you to know, you are not crazy. I too live on Long Island and have had exactly the same experience. Not only at Riverhead, but every other Volvo dealership as well. I currently lease a 2006 v70. I actually have a manual 5 speed ! The car has been excellent . I get great gas milage (because of the manual transmission and 5 cylinders) and your brakes last and last. The bad news is my lease is soon up, the 2008 V70's are no longer available in a manual and Volvo has increased the size of the engine to 6 cylinders. Probably one of the all time stupidest moves in the history of cars, but that's another whole email. Anyway back to trying to get some one to show you a 2008 V70 is practically useless. I don't get it. They only want to show you the gas guzzeling 4wheel drive 6 cylinder xc70 with two stupid metal gullies going down the back of the ramp. What the heck are those anyway ? And they don,t want to hear anything. They don't care if you are a repeat customer, they don't want to deal, I guess they are doing so well, that they must not need our business. Yesterday, I went to Volvoville, and looked at a certified car that has been on their lot for 2 monthes. ( I know because I looked at it then ).They offered me the same deal they offered me the first time, $400. off the sticker price and would not budge. I said I'll buy this car if you give me a better deal. They said no. I said you'd rather have the car sitting there than sell it ? The sales person answered, " it's not costing us anything ". ......... That just cost them a customer.
#18 of 30 2008 V70 & XC70 Lease Figures
May 13, 2008 (5:29 am)
My significant other is finally ready to pull the trigger on either a new '08 V70 or XC70 lease. In advance of the visit to the showroom, I'd like to get updated figures (residuals & money factors) on 36 month / 10k mile leases for both the '08 V70 and XC70. The lease will be completed in May.
Thanks again! As always, very helpful!
#19 of 30 Re: 2008 V70 & XC70 Lease Figures [ctorrey]
May 13, 2008 (7:31 am)
Here is a quote I recently got. This is after a few negotiations...
2008 V70 3.2
Seashell metallic with anthracite black leather
Personal Car Communicator
17" alloy wheels
Silver roof rails
Your price (lease): $31,650.00
36 month lease with 12,000 miles/year = *$476.99 + tax/month with minimum drive-off of $793.71
36 month lease with 15,000 miles/year = *$487.69 + tax/month with minimum drive-off of $805.24
Hope this helps. I do have a quote on the XC70 as well..
2008 XC70 3.2 AWD
Ice white with sandstone beige leather
Your price (lease): $31,450
36 month lease with 15,000 miles/yr = *$471.15 + tax/month with minimum drive-off of $786.41
#20 of 30 Re: I don't get it on lease options for V70 [westend2]
May 13, 2008 (10:41 am)
Probably one of the all time stupidest moves in the history of cars, but that's another whole email. Anyway back to trying to get some one to show you a 2008 V70 is practically useless. I don't get it. They only want to show you the gas guzzeling 4wheel drive 6 cylinder xc70
Hear! Hear! I just went through all this and when the dust settled, ended up with a Saab 9-5 Sportcombi. The V70 was actually going to cost me more than the XC70 - but I didn't want an XC70. I don't get it.
#21 of 30 Re: I don't get it on lease options for V70 [stmss]
May 13, 2008 (7:44 pm)
Hi stmss- Lots of luck on your new Saab. It's a gorgeous car ! I too wound up buying another "brand" wagon. There are some of us out there who just want or need a plain old station wagon and since I'm not using it to climb up a mountain or anything I don't need the 4-wheel drive. Yes , the Volvo wagons are great cars, but they are also the largest station wagon in production at this time. They have no competition to their size. Perhaps this can account for the arrogance at the dealerships . ... perhaps they don't have to try so hard to sell them. I went to 5 Long Island dealerships and 1 in New Jersey over a two month period. In all that time, only one salesman showed me an actual V70 . He didn't even unlock the doors.!!! Also there is no reason for a V70 lease to cost more than an XC70. Ya think they're trying push the XC ?!! I don't get it ! .......I guess I'll never get it as I drive off into the sunset in my DIFFERENT BRAND wagon.