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Volvo XC70 Lease Questions

221 messages,  Last post on Jun 18, 2008 at 2:50 AM

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What is this discussion about? Volvo XC70, Car Leasing, Wagon

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#181 of 221 Re: Lease quote [Car_man] by crestonave Nov 30, 2007 (10:36 am)
Replying to: Car_man (Nov 13, 2007 4:37 am) I'm not familiar with the $1175 lease cash which you mention in your reply to javafan1. Is this available in all regions? (I'm in New York). Does this mean that Volvo is giving me $1175 which I can apply vs the downpayment?   For the past couple of weeks Volvo has been advertising a 24 month lease for $399 a month with 10,500 mi/yr on a 2008 XC70 with premium, climate, metallic paint and dual dvd rear seat entertainment package. They show MSRP as 43575. Cash due at signing is $3443. They call the dvd entertainment package "complimentary".   When the car first came out the lease payment was advertised higher and there was no "complimentary" dvd system, so I am guessing the XC70 is not moving that well in NY.   Also do you have any thoughts on what the money factor and residual would be on this vehicle currently?   Thanks for any help you can provide! Replies to this message: Car_man (Dec 10, 2007 3:26 am) crestonave (Dec 10, 2007 3:59 am)
#182 of 221 XC Lease End: Buy or Turn in? by tenmiler Dec 03, 2007 (12:57 am)
I probably sound a lot more scatterbrained than I am, but I found out on Friday that my 04 XC70 lease ended 12/1, and I have to make a decision.   It's with Wells Fargo, and I am able to do one of three things: I can extend my lease for a fee of $100 (then pay the monthly again). I had thought about doing this until the V50 I want comes in, but that's February and I won't certainly be getting any price breaks on a car that is a unicorn in the US. I can buy the vehicle: I asked if they'd give me a better price and without hesitation, dropped the buyout from $23K to $19K plus tax, which LOOKS to be below market. I can drop it off this week.   My mileage on the car is 32500 and I paid for 45000. The car is in fantastic shape with a crack in the rear plastic bumper that will have to be fixed, but the car has been great. I have an extra set of tires, the volvo bike racks, cargo and rubber floor mats, premium audio and xenon/leather/cold weather pkg. So I'm curious if I could sell it above my buyout and retain some $. (no, this isn't an ad!)   I don't really like the 08's but there seem to be some good deals on them but the gas mileage and emissions output on them are reported to be really poor... I see the current customer incentive is $1K and now they are running ads for $369/month for 10K/year on an 08...   Just thought I'd pose the question out there if carman or anyone has any good viewpoint on what the best option is.   Thanks!! Replies to this message: Car_man (Dec 10, 2007 3:31 am) tenmiler (Jan 01, 2008 10:48 pm)
#183 of 221 Re: Lease quote [javafan1] by Car_man HOST Dec 10, 2007 (3:21 am)
Replying to: javafan1 (Nov 14, 2007 4:53 am) Thanks for the additional information, javafan1. OK, so the XC70 that you are interested in has an MSRP of $47,520 and a selling price of $44,890. This selling price represents a discount of $2,600. This car probably has a spread of around $3,500 between its full MSRP and dealer invoice price plus Volvo is providing a $1,175 cash incentive on leases of '08 XC70 models without the entertainment system and $1,600 on models with it. This gives you $4,600 to work with if the XC70 that you are interested in doesn't have the entertainment system and $5,100 if it does. I personally would want a larger discount than the $2,600 that you are being given.   Car_man Host Prices Paid: Buying & Leasing Experiences Forum Replies to this message: luisja2000 (Dec 16, 2007 2:27 pm)
#184 of 221 Re: Lease quote [crestonave] by Car_man HOST Dec 10, 2007 (3:26 am)
Replying to: crestonave (Nov 30, 2007 10:36 am) Hi crestonave. Yes, Volvo is providing $1,175 lease cash on 2008 XC70 models without the entertainment system nationally. Starting in mid-November, Volvo introduced a free entertainments system promotion on the '08 XC70 that provides $1,600 dealer cash instead of the lease cash on models that have this option. You can use these cash incentives to reduce the capitalized costs of the vehicle that you are interested in.   Volvo's lease program for the XC70 varies by term and mileage allowance. For now I will assume that you are interested in a 36 month lease with 15,000 miles per year. Let me know if you want something else. Volvo Finance's current buy rate lease money factor and residual value for a 36 month lease of a 2008 XC70 with 15,000 miles per year are .00105 and 53%, respectively.   Car_man Host Prices Paid: Buying & Leasing Experiences Forum Replies to this message: crestonave (Dec 10, 2007 3:59 am)
#185 of 221 Re: XC Lease End: Buy or Turn in? [tenmiler] by Car_man HOST Dec 10, 2007 (3:31 am)
Replying to: tenmiler (Dec 03, 2007 12:57 am) Hi tenmiler. It certainly sounds like your XC70 is in good shape. If your purchase option price is less than or equal to what it is currently worth on the open market, I don't see anything wrong with purchasing it at the end of your lease. Even the dealer told you what your vehicle's purchase option price is, you should place a call to the bank that you are leasing it through just to make sure that you have the correct figure. When you do so, it never hurts to try to haggle with them. Some banks will negotiate the lease-end purchase prices of vehicles. If your initial contact at your bank is not willing to lower your vehicle's purchase price, you may have better luck if you work your way up the ladder to a manager. There is a good chance that they will not lower your vehicle's price, more often than not they will not, but you don't have anything to lose by asking.   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".   Car_man Host Prices Paid: Buying & Leasing Experiences Forum Replies to this message: tenmiler (Jan 01, 2008 10:48 pm)
#186 of 221 Re: Lease quote by crestonave Dec 10, 2007 (3:59 am)
Replying to: Car_man (Dec 10, 2007 3:26 am) Thanks much for your help, Car man.   I'm interested in a 24 month lease on the XC70. I won't need more than 12k miles per year.
#187 of 221 Re: Lease quote [Car_man] by luisja2000 Dec 16, 2007 (2:27 pm)
Replying to: Car_man (Dec 10, 2007 3:21 am) I would like to get some information in order to negotiate a price below invoice price in a XC70. Could somebody give me some tips? I see that Darrin got that deal. Any suggestions? Thanks! Luis
#188 of 221 Re: 2008 XC 70 Lease Question [nirradus] by luisja2000 Dec 16, 2007 (2:33 pm)
Replying to: nirradus (Nov 13, 2007 9:34 pm) Hi Darrin, Any tips on how to get the deal you got. I am planning to go to the dealer this week and start negotiating. Where did you get your car? Any help would be appreciated. Thanks, Luis
#189 of 221 Good Lease Rate? by eef0117 Dec 17, 2007 (3:23 pm)
I have been working for a month to get the best lease I can on an 2008 XC70. The MSRP on the one I found is around $42,700. The lease is for 48 months, 15,000 miles/yr, adding "Free" DVD, $580 due at signing, and $580 per month. Is this good? I honestly have no idea, but it is much lower than any other dealerships. I need to make a decision in the next couple of days so any help is appreciated. Also we are in the Cincinnati area.   Thank you!
#190 of 221 Re: XC Lease End: Buy or Turn in? [Car_man] by tenmiler Jan 01, 2008 (10:48 pm)
Replying to: Car_man (Dec 10, 2007 3:31 am) Carman, I really appreciate your reply; tons of info. I did post over at the real trade ins, and have decided that I still want to explore a new lease.   So I'm down to the 08 XC (even though I don't love the engine) and an 07 328xi wagon. And that has to happen tomorrow.   I'm very torn. Thanks for your info on post 183 regarding the DVD system, it sounds like there is some room there to play with the system, and the dealer told me that it was actually "not" free, that it was a dealer rebate, so that makes sense what you said.   Here's what I've been given. Honestly I have to make this purchase tomorrow as the deals all go away, but I'm attracted by 24 month lease of the XC because I could probably live with a less-than-ideal engine/gas mileage for that long:   08XC Options: Premium, Climate, Metallic, Convenience, PCC, Dynaudio   MSRP: 45755 (Edmunds Invoice $41957), Edmunds MSRP: 45205 (guessing they are adding on here their own prep charges, etc) Dealer's Selling Price: 42049 Residual: 69% MF: .00105 Term 24 Months 12K miles/yr Lease: $526 plus tax   I believe the dealer is applying the $1k owner loyalty cash to cap reduction. I also asked about a bluetooth installation, they want $300 for installation. Wondering if a) the deal above sounds like a good one or if there is more room and b) if it's a decent strategy to work deals on accessory installation like bluetooth. seems there is about a 15% difference btwn msrp and invoice on factory options--is that the same with accessories you buy at a dealer typically?   Thanks much (and I'll be buggin ya over at the 3 series forum too).

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