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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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#211 of 221 volvoXC70 car lease advice by topcat02 Apr 12, 2008 (9:27 pm)
I was offered the following lease from a dealer in metro NYC(Mt Kisco):supposedly thru a 3rd party bank. I am a current volvo owner. volvo XC 70 36 mos/15K premium/convienence/climate/collision avoidance packages plus BLIS in a nonmetallic exterior color. No navigation system. MSRP 46,755 selling price 36,059 residual value 21,039 money factor 0.00163 adjusted cap cost 36,511 sales tax 1,503 (this is included in the monthly payment) upfront fees 762.50   monthly payment 523.57 (this includes the sales tax) due at signing 1,337.33 Do you think this is a reasonable offer and do you think I can do significantly better. Thanks,   Ron Replies to this message: wrj1 (Apr 13, 2008 7:51 am) cheyjey (Apr 13, 2008 9:03 pm) topcat02 (Apr 14, 2008 4:37 am) wrj1 (Apr 14, 2008 7:09 am)
#212 of 221 Re: volvoXC70 car lease advice [topcat02] by wrj1 Apr 13, 2008 (7:51 am)
Replying to: topcat02 (Apr 12, 2008 9:27 pm) It is my understanding that Volvo's current money factor is .00001 for 24 months, so you would be better off with that rate (2% vs 4%) if a 24 month lease works for you.   Also, are you really planning on driving 15000 miles per year? If you were to use a lower number (10500 or 12000 miles), that would bump up your residual, thereby further reducing your monthly payments. (You pay .20/mile either way, so you can pay upfront or pay for what you actually you and thus reduce your monthly payments.)   Did you make sure you reduced your selling price by getting the $1000 Volvo loyalty bonus?   I was able to get the following on a 2 year lease, and I haven't even started haggling yet: MSRP 44,105 Cash sale Price $39,596.72 Residual $27,786.15 (based on 12000 miles; 29000+ if 10,500 miles) Rate .00001 $888.72 Drive off $478.40 + tax ($517 with tax)   Last month, in the last few hours b4 month end, they offered to waive the drive off to get me to close. Might be worth asking for if you can wait until month end. Replies to this message: cheyjey (Apr 13, 2008 9:03 pm) topcat02 (Apr 14, 2008 4:37 am) wrj1 (Apr 14, 2008 7:09 am)
#213 of 221 Re: volvoXC70 car lease advice [wrj1] by cheyjey Apr 13, 2008 (9:03 pm)
Replying to: wrj1 (Apr 13, 2008 7:51 am) Can anyone out there verify that the above .00001 is the actual lease factor being offered by Volvo right now?
#214 of 221 Re: volvoXC70 car lease advice [wrj1] by topcat02 Apr 14, 2008 (4:37 am)
Replying to: wrj1 (Apr 13, 2008 7:51 am) I will probably drive 39, 000 to 40,000 miles in 3 yrs, so you are right, maybe it would be better to pay the 0.20 /mile at the end of the lease. But I do want the 36mos lease. I don't know if I can do much better on the money factor that I was quoted. Are you sure that that money factor is 0.00100 and do you think that would also apply to a 36 mos lease? Replies to this message: wrj1 (Apr 14, 2008 7:09 am)
#215 of 221 Re: volvoXC70 car lease advice [topcat02] by wrj1 Apr 14, 2008 (7:09 am)
Replying to: topcat02 (Apr 14, 2008 4:37 am) As concerns mileage, perhaps you ought to go with 12,000/year vs 15?   When I questioned the accuracy of the .00001 money factor for a 24 month lease, my Volvo dealer (No. CA) sent me an email confirming it was true. (It was .00027 in March, btw). The folks at Cartelligent also confirmed. They said Volvo tended to have aggressive financing. I doubt, however, that 2% would also apply to a 36 month lease. The money factor is not something you can negotiate; it is what it is, and is dictated by the financial institution doing the financing. You can try to get a better rate than the manufacturer's through a 3d party, as you did. You might wish to inquire as to how Volvo's rate compares to be sure you are getting the best rate.
#216 of 221 Leasing/Maintenance by chalf Apr 15, 2008 (12:12 pm)
I leased my first car so I don't know the deal on regular maintenance. My first was free and the second regular scheduled maintenance cost a bundle. Is there any reason I need to go back to the dealer for maintenance? What do you experienced lessees recommend? Thanks Replies to this message: Car_man (May 30, 2008 2:33 am)
#217 of 221 overseas delivery by wilks3 Apr 17, 2008 (2:06 pm)
has anyone leased through the overseas delivery program? I am getting a great price $ 35,110 for a msrp $ 43,060 XC70 but the lease money factor is based on a 6.9% rate through Volvo Finance. Any way to get a better rate?
#218 of 221 buying your car back from the finance co by topcat02 May 29, 2008 (12:12 pm)
I want to buy back my volvo XC70 (2005) with 37K miles from volvo finance. Does anyone know what book value best approximates what my offer should be? Should I use something close to the "trade in value", :private party value" or the suggested retail price"?
#219 of 221 Re: Leasing/Maintenance [chalf] by Car_man HOST May 30, 2008 (2:33 am)
Replying to: chalf (Apr 15, 2008 12:12 pm) Hi chalf. You definitely do not have to go to a Volvo dealer to have maintenance performed on your leased XC70. I'll take that statement one step further and add that you really don't even have to perform any maintenance on leased vehicles other than change the oil and perhaps rotate the tires to protect them from excess wear. Doing anything above and beyond that is a waste of money. If you decide to go to an independent repair shop, Jiffy Lube, etc... to have your vehicle's oil changed, just make sure to hang on to the receipt just in case.   Car_man Host Prices Paid: Buying & Leasing Experiences Forum
#220 of 221 2 Year Lease Details in Los Angeles by cheyjey Jun 01, 2008 (1:04 pm)
Hi,   After spending some time here and shopping, I just leased an XC70 so I thought I would put the details here for everyone. This does include the 1000.00 Volvo credit for existing Volvo owners: MSRP - 44,325 Agreed Upon Selling Price - 37212 Adjusted Cap Cost - 36518 Term - 24 mos Miles - 12K/yr Drive Offs - 990 Monthly Payment - 420+ tax Residual: 28058.31   I don't have the money factor but I asked and it is very close to 1% when converted to an interest rate. Replies to this message: Car_man (Jun 18, 2008 2:50 am)

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