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Sedans Volvo S60 Volvo S60: Lease Questions
557 messages, Last post on Dec 15, 2008 at 4:05 AM
You are in the Volvo S60 Forum. Your Hosts are pat & karens
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Hi everyone. Please use the following discussion to post any questions that you have about leasing a Volvo S60. Thanks. Car_man Host Smart Shopper / Prices Paid Forums |
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Posted in the wrong area. Here's my deal: 2005 S60R MSRP: $42,165 selling price: $35,005 $1000 Acquisition fee Money factor (I think) is .0021 Residual is: $19,395 (.46)? 12K/year 36 month lease  $488/month Money down is: $3607(Acquisition fee of $1000, first payment of $488, $2000 cash, and about $120 in fees.) What do you think- I like the selling price, but the "deal" has me a bit confused. My credit score is about 750- I think that the acquisition fee of $1000 is absurd!
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Hi urnuts. Your lease must be through a bank other than Volvo Finance because to the best of my knowledge, it is no longer leasing 2005 models. Volvo is currently providing $4,500 dealer cash on the 2005 S60 R. Judging by the prices that you mentioned in your post, you are getting all of this dealer cash and are getting this car for pretty close to dealer invoice. This sounds like a fair deal for this car to me. I cannot comment on the other parameters of your lease because I am not familiar with the programs that is being offered on this car through independent banks right now, other than to say that the money factor and residual value that you were quoted for this car look reasonable to me. You're right about the $1,000 acquisition fee though. I'd say that it is around $400 to $500 too high. Also, you mentioned that you are considering making a $2,000 capitalized cost reduction on your lease. I always advise consumers against making any sort of down payment when leasing. I do so for two main reasons. The first is if your vehicle is totaled in an accident or stolen during your lease, your insurance company pays off the bank that you were leasing it through and your down payment essentially disappears. The second main reason is that down payments on leased vehicles do nothing to reduce their lease-end purchase prices. So your lease-end purchase option price for your S60 would be exactly the same, regardless of whether you had put $2,000 down, or had made absolutely no down payment at all. Car_man Host Smart Shopper / Prices Paid Forums
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Replying to: Car_man (Oct 13, 2005 2:53 am) (Volvo Financial charges $575) The "deal", from the selling price standpoint, seems fair; from $42K down to $35K. I've just never leased before, and inherently don't like the idea but, I do understand the pros & cons, and think I might try it on this car. Thanks so much for your help!! |
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Volvo Financial currently has a lease offer on the S60 2.5T that I plan on looking into. The car I'm interested in is priced as follows: MSRP $30,270 Black N/C Premium Package $2,995 Climate Package $675 Satellite Radio Preparation - Sirius $75 Destination Fee $695 Total $34,710 The current advertised lease offer is $299/mo. for 36 mos.; 30,000 mi.; $4,069 due at lease inception ($2850 cap reduction, $595 acq. fee, $325 sec. deposit, and $299 1st payment); on a vehicle with a gross cap cost of $30,191. Buy out is at $16,871 with $395 disp. fee. I plan to try to work out a 36 mo. deal that would require a lower or no cap reduction and a 12,000 mile per year allowance. Given the current Vovlo lease incentives, could you give me an idea of what a fair deal might look like on the $34,710 car I'm looking at? Thanks in advance for any guidance you can provide. |
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You're welcome urnuts. Let me know if you have any other questions. Car_man Host Smart Shopper / Prices Paid Forums |
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Hi mycle. After taking the down payment into account, it appears as though the advertised lease that you mentioned is based upon a selling price that is just over $1,600 under full MSRP. This is a reasonable selling price, so let's use it to estimate the revised lease payment that you are interested in. According to my calculations, if you were to lease a 2006 Volvo S60 2.5T with an MSRP of $34,710 and a selling price of $33,041 through Volvo Finance right now for 36 months with 12,000 miles per year, its zero down pre-tax monthly payment should be around $411. Car_man Host Smart Shopper / Prices Paid Forums |
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Trying to tie-down the November MF & Residuals for a 2006 S60 2.5T. Can't seem to find any info on MF. Residuals for would be for the following terms: 24/12k 24/15k 36/12k 36/15k I need to close a lease prior to month end as my current car is due back on Nov 29. Your assistance would be appreciated. Lastly if a 'host' is responding, could you check my similar post in the Saab 9.3 forum as those are the two cars in the running. Thanks, Michael
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Replying to: rugby_s2k (Nov 24, 2005 4:08 am) Car_man Host Smart Shopper / Prices Paid Forums |
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Replying to: urnuts (Oct 05, 2005 6:04 pm) |
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