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Prices Paid: Buying & Leasing Experiences Volvo XC90 Lease Questions
1173 messages, Last post on Sep 07, 2008 at 2:38 PM
You are in the Prices Paid: Buying & Leasing Experiences Forum. Your Hosts are car_man & kyfdx
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Replying to: ferky (Mar 21, 2008 1:48 pm) |
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Replying to: Car_man (Mar 20, 2008 3:41 am) Xc90 3.2 AWD 7 passenger nav premium package climate pkg versatility pkg bi-xenon lights silver sticker: 47, 942 sale price 37,450 36 months/15k $574 per month with tax $1850 due at signing (includes 1st month pmt) |
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Is this a good lease deal in CT? Xc90 3.2 AWD 7 passenger nav premium package climate pkg versatility pkg bi-xenon lights silver sticker: 47, 942 sale price 37,450 36 months/15k $574 per month includes tax $1850 due at signing (includes 1st month pmt) |
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This is the car I'm looking at: 2008 XC90 3.2L AWD 7 Passenger Climate Pkg (bum warmers) Premium Pkg(oooo leather) Versatility Pkg (3rd row for short people) metallic paint NO DVD, NO NAV, NO BIXENON $249 a month, $4989 due at signing 4 Yr Warrantee, or 50,000 miles (standard) The residual is 63%, which equals $18500. So that means after 2 year lease, I will have paid $10965 (not including tax), and if I add the residual to buy the car outright, it's $29465... Here are other calcs on this SUV: The Cap Cost is $29408 The MSRP is $44725 The Invoice is $41908 The math: What I pay after 2 years - CAP Cost = 29465 - 29408 =... $57??? Does this mean I am not paying any interest? I believe the bank underwriting this is JP Morgan, or at least that is what I think I saw on the screen. So my first question is, is the 24 month deal that is going on a crazy deal? Some things that factored into my deal, as some of you may say that my numbers are not what match the advertisements. There are currently two offers in the NY Tri state area: 1) Garmin GPS for $750 2) $500 Trade in incentive I was able to get credit for both as I did not want the Garmin. This may be in the tri state only. So... if you factor that I got the extra $1250 to make my monthly payments $249 instead of $299, am I basically leasing a car at no interest? Also, am I doing something horrible by putting so much down? Since I'm doing a trade in, I just figured I would use that money to reduce my monthly.. not that I have a problem holding onto money, but still, I like the idea of just paying $250 a month... Anyway, this was a LONG post, but I would love some feedback, as I will decide on this by Monday. Is there something wrong with this deal that I don't get? I am willing to pay down so much because I'm doing a trade in. thanks, and this forum is awesome. (One comment I've learned from the forum, that there are risks in paying so much in down payment if you get into an accident that totals the car. Is this true?)
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Replying to: bomb27 (Mar 22, 2008 8:56 pm) You're saying that you were quoted a lease sale price of $29,400 on a car with an MSRP of $46,700???? $12,500 UNDER invoice? Even adding back in the $5,000 due at signing, your price is still more than $7,000 under invoice. I just don't see how that's possible. Plus, residual is based on MSRP, so a 63% residual (10.5k miles a year?) would put you at just over $28,000, only $1,400 under the sale price?? Consider me confused and extremely doubtful. I think you are missing something here. I'm about to post the lease deal that I just made. Not saying that it's the best, but it's waaaay off from yours. One of us is going to be wrong; if it's me, then I guess I made a crappy deal. See my post in prices paid and buying experience. Also, I understand how easy it can be to put lots of money down when you are getting the cash anyway from the trade-in, but you would actually be better off putting that cash in the bank, having it earn interest, and pay a higher monthly. If the car is stolen or in a bad accident, that money is gone -- even if it's 3 days after leaving the dealer. . . .
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Replying to: ferky (Mar 24, 2008 12:53 pm) ADD these two numbers together, and yes, it's $39,500 for a $45,200 car. But 45,200 is the MSRP--the invoice on this car is more like 41908. Which means I'm getting $2408 off the invoice, and $5700 off the MSRP. Does that seem more in line? This is the deal I'm getting for sure.
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Replying to: bomb27 (Mar 24, 2008 6:38 pm) |
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Replying to: bomb27 (Mar 24, 2008 6:40 pm) Good luck and keep us informed. If anyone else has additional light to shed on this deal, I've love to hear it. 
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Replying to: ferky (Mar 24, 2008 6:57 pm) Again, I think I stumbled upon a combo that is really unique and YMMV, your mile may vary... Find a dealership doing the tri state area $299 for a 7 pass AWD 3.2L, with $4989 down, who is ALSO doing both the GPS deal AND the $500 trade in deal. And then get them to make all of these subtract against the lease. I'll tell you guys what comes out of tomorrows transaction and post all the final details. |
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MSRP $47695 Residual of 63% $30048 2 year lease with 10500 miles $400 * 24 months + $2800 down = 12400 (there is also 1840 in tax, title, dock, 1st payment which I will not include) Lease cost(12400) + Residual(30048) = 42448 Savings off or MSRP MSRP (47695) - (Lease + Residual) = $5247 off MSRP Invoice (44018) - (Lease + Residual) = $1570 off Invoice After taxes, 1438.95 (removed the $400 1st payment) I pay $140 off invoice. Not the most impressive price for a straight up purchase, but for a 2 year lease, it's not bad I think. bo |
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