Last post on Dec 06, 2013 at 9:06 AM
You are in the Prices Paid - Buying & Leasing Experiences
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Volvo XC90, Car Leasing, SUV
#1529 of 1659 Re: Need advice to get this car at a decent lease price [mmgoodkitty]
Nov 29, 2009 (7:15 am)
Well you would be paying about 5.52 percent and the residual for me would be a deal breaker. True the discount offsets some of that but still payments are way too high for a 42K car. Unfortunately Volvo can't afford to subsidize or inflate residuals because they got burned on some the leases in 2006-2008 that had overinflated residuals and near zero financing.
Went through the same thing a year ago. Was paying on a TWO year V8 XC90 lease about 400 per month with 3K down. YES it was 400 including tax - Volvo MF of .00002 and a residual of 72 percent! Think I paid about 50 cents a month in interest. Tried to lease another V8 and the payments were in the 700 - 800 dollar range. Money factor at the time was pretty decent about 2% but the residual was the deal breaker and drove the payments up about 125 compared to other cars.
Ended up leasing a BMW X5 3.0 which had an invoice of 52K and my lease payments ended up being about 549+tax. with 3k down. HATE the car (noisy, seats really uncomfortable, rough ride) and in January will put it up on LeaseTrader/Swapalease and see what happens. Due to the lower monthly payment it should go. Would love to go back to an XC90 again but leasing it would cost way too much and buying would also be a mistake unless I was keeping it for 10 years - resale value are too low on the XC90 - 3 to 5 years out = = Huge money looser.
#1530 of 1659 Re: Need advice to get this car at a decent lease price [mmgoodkitty]
Nov 30, 2009 (6:30 am)
The finance guy at my Volvo dealer in Illinois told me to wait until after Dec 3rd because volvo just signed a national deal w/US bank that should make leasing a lot more attractive..he seemed to think the lease incentive could be better as well as the monthly payments...
#1531 of 1659 Re: Need advice to get this car at a decent lease price [burnsfam10]
Nov 30, 2009 (7:19 am)
This is correct, US bank is becoming the captive finance company for Volvo Cars North America, The residuals and money factors should be available to the dealers by tommorrow, being that the offers that are on the table right now end tonight, they will be much more attractive lease numbers not earth shattering but better.
#1532 of 1659 Re: Need advice to get this car at a decent lease price [hollywood53]
Nov 30, 2009 (7:55 am)
That's good news. Certainly worth waiting for. Those 39% residuals just don't cut it. As things stand now, you can lease a comparable Mercedes or an Acura at a much better rate. Of course, one has to factor in the cost of scheduled maintenance into those deals as well. Best to just wait and see what develops this week.
#1533 of 1659 Re: Need advice to get this car at a decent lease price [crestonave]
Nov 30, 2009 (4:05 pm)
Dont hold your breath I seen the residuals today and was disappointed and although they are higher, Volvo is not contributing as much cash towards the buydown rate which would have resulted in a lower number. Thats the bad news, the good news is that you will have a stronger residual towards a 48 month program combined with the 5 year 60,000 mile wear and tear maintenance program.
If you are a person doing 15,000 miles per year ( like myself) this is probably a better way to go than lets say a mercedes or bmw which you would be limited to a 36 month term and would be out of warranty in under 3 years due to mileage.
The maintence program at this time is only guaranteed thru December 2009, NO decision has been made by corporate going forward past that, If I find out about it later on in December if it is coming to an end or it will continue I will post it.
#1534 of 1659 Re: Need advice to get this car at a decent lease price [hollywood53]
Nov 30, 2009 (10:47 pm)
hollywood53. Do you have the numbers for the 48 month program? mf and residual please. Sucks that my expectations were up high when you mentioned about higher residuals.
#1535 of 1659 Re: Need advice to get this car at a decent lease price [zamo]
Dec 01, 2009 (8:06 am)
I would wait a day or 2 there is already a tremendous amount of flack from the dealer body, keep in mind that I saw these prior to the dealers, they were only being released today. I can not post them yet, due to the fact that west coast dealers are not even open yet. The original plan was to increase the residuals and maintain the same cash contribution towards the money factor to lower the price points by 20-25 per month per vehicle. I was surprised as were many of the dealers this AM that yes the residuals went up but the contribution went down making NO difference in the price points. I can only hope that the dealer body may exert enough pressure to have a few changes in the next few days.Although my feelings is that Ford is not going to give them any more money especially with the sale pending to (Geely Cars of China) <---My personal interpertation as to who is buying them
#1536 of 1659 Re: Need advice to get this car at a decent lease price [hollywood53]
Dec 01, 2009 (8:30 am)
Lets hope! I have an R-Design on order due to be delivered by the first week of January. I am able to lock the rate in December once the VIN# is available. But considering the current "suggested" lease program from Volvo, seems that the plan will be scratched and I will need to extend my current lease:
So let's see how Volvo works this out.
#1537 of 1659 New numbers are very disappointing
Dec 01, 2009 (2:57 pm)
Just got back from the dealer. Don't know why they bothered changing anything.
With an msrp of 43375, here's the comparison between the old and new offers, 36mo, 10k, no money down, 8.625% NYS tax included in mo payment, Costco:
cost 35200 38900
res 38% 45%
mf .00270 .00155
resulting in a new payment of 732/mo vs 750/mo on the old deal. On a 48 mo lease, the mo payment would be 662/mo. According to the dealer, there are no more 42 mo or 60 mo programs. I haven't worked these numbers or verified them.
I may go check with a different dealer, but if these numbers hold up, there's no Volvo in my future.
#1538 of 1659 Re: New numbers are very disappointing [crestonave]
Dec 02, 2009 (6:08 am)
Would you mind sharing the residual and money factor for 48 months?