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Volvo XC90 Lease Questions

1257 messages,  Last post on Nov 21, 2008 at 4:14 AM

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What is this discussion about? Volvo XC90, Car Leasing, SUV

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#906 of 1257 Help with lease on XC90 by g_p Dec 08, 2007 (4:16 pm)
We have decided on an 08 XC90 and plan to lease for 24 mo/12K year. I would appreciate anyone who has some feedback on the following offer. I have always purchased and need some experienced voices with my first lease.   We have an offer from Volvo of Charlotte (in NC) on a 3.2L, 5 seater, Metallic paint, premium pkg, climate pkg, navi and the "free" rear seat ent system. The MSRP on the vehicle is 43,220.   Offer (using Costco's services) Invoice = 40,205 Minus incentive of 2500 Minus Cosco saving of 1000 PRICE = 36,705 plus TTL   Quoted a residual of 62% (dealer quoted residual value of 27,827) Quoted a money factor of .0009 I haven't finalized the lease agreement, but the salesman is quoting me a monthly payment of 541 with tax (property and sales) included. That is with a 1000 down (including first month).   My questions: 1) I feel good about the purchase price but want to know if I am leaving any money on the table. 2) How was the residual calculated? I cannot figure how 62% is 27,827 of MSRP or negotiated price. 3) Does the lease payment seem high with the info given? 4) What should I look at closely on the lease agreement when it get presented in a couple days? 5) Is it common for property tax to be included in a lease? I am accustomed to paying County/City prop tax on my vehicles, but didn't know it would be included in the lease. 6) NC sales tax (or "highway use tax" is 3%). In a lease, do I only pay the tax on the depreciation amount or the whole sales price?   I appreciate ANY help/comments I can get. I won't let 5-10 bucks a month keep me from getting my wife her car, but want to do the best I can.   Thanks in advance for any feedback and sorry for the long post. Replies to this message: Car_man (Dec 11, 2007 2:25 am) garrick (Dec 12, 2007 10:41 am)
#907 of 1257 Re: my deal [jimmyjohn215] by Car_man HOST Dec 10, 2007 (2:37 am)
Replying to: jimmyjohn215 (Nov 24, 2007 1:54 am) Hi jimmyjohn215. You never mentioned the selling price or MSRP of the XC90 that you are interested in leasing. These are important numbers for you as a consumer to know for two reasons. First, the selling prices of leased vehicles can be negotiated, just as if you were paying cash for them. Without knowing what this vehicle's selling price is in relation to its MSRP you don't know how much of a discount you are getting on it. The second reason is that one needs the selling price and MSRP, including the destination charge, of a vehicle to calculate its lease payment. I would be more than happy to give you my opinion of this deal if you let me know what these numbers are.   Car_man Host Prices Paid: Buying & Leasing Experiences Forum
#908 of 1257 Re: XC90 3.2 [godfather9] by Car_man HOST Dec 10, 2007 (2:50 am)
Replying to: godfather9 (Nov 24, 2007 8:24 pm) Hi godfather9. The money factor that you were quoted for the XC90 that you are interested in looks slightly high. According to the latest information that I have seen, Volvo Finance's current buy rate for a 24 month lease of a 2008 XC80 3.2 FWD is .00023 for the 5-passenger model and .00036 for the 7-passenger model.   Let's take a look at the selling price that you were quoted. The '08 XC90 that you are interested in probably has a spread of around $3,200 between its full MSRP and its dealer invoice price. Plus, Volvo is providing a $2,000 cash incentive on leases of XC90s that don't have the entertainment system. That gives you a total of $5,200 to play with. The $5,000 discount that you were quoted looks reasonable to me.   Car_man Host Prices Paid: Buying & Leasing Experiences Forum
#909 of 1257 Re: leasing XC90 V8 [xc91] by Car_man HOST Dec 10, 2007 (2:58 am)
Replying to: xc91 (Nov 24, 2007 11:49 pm) Hi xc91. Let me begin by saying that $5,000 is way too much money to pay at lease signing. If your state allows it, you would be better off rolling any taxes that you have to pay into your vehicle's capitalized cost. Also, it really isn't a good idea to make a capitalized cost reduction when leasing. Consumers who make large down payments on leased vehicles risk losing part or all of them if their car or truck is totaled in an accident or stolen and never recovered. It's safer to pay as little as possible at signing, even if it means that your monthly payment will be slightly higher.   As far as this specific deal goes, you never mentioned the selling price or MSRP of the XC90 that you are interested in leasing. These are important numbers for you as a consumer to know for two reasons. First, the selling prices of leased vehicles can be negotiated, just as if you were paying cash for them. Without knowing what this vehicle's selling price is in relation to its MSRP you don't know how much of a discount you are getting on it. The second reason is that one needs the selling price and MSRP, including the destination charge, of a vehicle to calculate its lease payment. I would be more than happy to give you my opinion of this deal if you let me know what these numbers are.   Car_man Host Prices Paid: Buying & Leasing Experiences Forum
#910 of 1257 Re: Any thoughts re: this lease offer? [drubin] by Car_man HOST Dec 10, 2007 (3:05 am)
Replying to: drubin (Nov 25, 2007 8:02 am) Hello drubin. You never mentioned the selling price or MSRP of the xc90 that you are interested in leasing. These are important numbers for you as a consumer to know for two reasons. First, the selling prices of leased vehicles can be negotiated, just as if you were paying cash for them. Without knowing what this vehicle's selling price is in relation to its MSRP you don't know how much of a discount you are getting on it. The second reason is that one needs the selling price and MSRP, including the destination charge, of a vehicle to calculate its lease payment. I would be more than happy to give you my opinion of this deal if you let me know what these numbers are.   As far as when to lease goes, Volvo's current lease program for the XC90 is scheduled to run through the end of the year. I do not anticipate it making any revisions to it prior to then, but one never knows what will happen for certain. Volvo's January lease program for the XC90 will likely be fairly similar to its current program, but it's difficult to predict exactly what an automaker will do with its future programs with 100% certainty.   Car_man Host Prices Paid: Buying & Leasing Experiences Forum
#911 of 1257 Re: GOOD DEAL???? [moremoremore] by Car_man HOST Dec 10, 2007 (3:13 am)
Replying to: moremoremore (Nov 28, 2007 7:57 pm) Hi moremoremore. The lease payment that you mentioned looks better than many of the payments that I have seen mentioned in this discussion lately, but the best way to tell if you are getting a good deal on a leased vehicle is to look at its selling price. You This is an important number for you as a consumer to know for two reasons. First, the selling prices of leased vehicles can be negotiated, just as if you were paying cash for them. Without knowing the price of the car that you want to lease you don't know how good a price you are getting it for. The second reason is that one needs the selling price of the vehicle that they want to lease is that it is necessary to calculate its lease payment. I would be happy to give you my opinion of this deal if you let me know what the selling price is.   Car_man Host Prices Paid: Buying & Leasing Experiences Forum
#912 of 1257 Re: What's the Catch? [amj05] by Car_man HOST Dec 10, 2007 (3:20 am)
Replying to: amj05 (Dec 01, 2007 12:10 pm) Greetings amj05. Unless Volvo is running an official program that will waive ALL of the remaining payments on your current lease, you would probably be better off waiting until you are closer to its scheduled end to get a new vehicle. These payments are not going to just disappear and rolling them into your new lease is sort of wasteful.   Car_man Host Prices Paid: Buying & Leasing Experiences Forum
#913 of 1257 Current Leasing Factors by slackjaw Dec 10, 2007 (4:03 am)
Car Man -   Can you share what the current MF and residual would be on a 2008 3.2 AWD 5 Passenger? Thanks!   I am currently sitting with a quote of .00078 and 65% for the 24 month with 10,500 annual miles.   What's the best I can expect do you think? Replies to this message: Car_man (Dec 11, 2007 2:28 am)
#914 of 1257 Re: Lease Help for XC90. Please help a troop!!! [jarhead169] by Car_man HOST Dec 10, 2007 (4:03 am)
Replying to: jarhead169 (Dec 02, 2007 6:57 am) Hello jarhead169. Let me start by thanking you for all you are doing for our country. Since you and your wife have never leased before , you definitely should check out the following informative articles that are available here at Edmunds.com prior to visiting any dealers: 10 Steps to Leasing a New Car and Calculate Your Own Lease Payment.   In short, the best way to get a good deal on a leased vehicle is to negotiate as low a selling price as you possibly can on the model that you want and then have the dealer you decide to go with calculate your monthly payment using its buy rate lease money factor. You should be able to get an idea of how much you will have to pay for the XC90 that you want right now by visiting the "Volvo XC90 Prices Paid and Buying Experience" discussion.   Volvo Finance's lease program for the XC90 varies by term level, term, and mileage allowance. For now I will assume that you and your wife are interested in a 24 month lease of a 2008 Volvo XC90 3.2 FWD 7-passenger with 12,000 miles per year. Volvo Finance's buy rate lease money factor and residual value for a lease using those variables are currently .00036 and 63%, respectively.   If you negotiate a low selling price and have the dealer use this money factor you will be in good shape. Let me know if you have any questions.   Car_man Host Prices Paid: Buying & Leasing Experiences Forum
#915 of 1257 Re: My XC90 lease in Ft. Lauderdale [mbeam] by Car_man HOST Dec 10, 2007 (4:06 am)
Replying to: mbeam (Dec 02, 2007 2:16 pm) Congratulations on getting your new XC90, mbeam. Thanks for taking the time to share the details of your lease with everyone. Make sure to stop by the new Dealer Ratings & Reviews section of Edmunds.com to share your thoughts on your recent dealer experience with everyone. Enjoy your new ride .   Car_man Host Prices Paid: Buying & Leasing Experiences Forum

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