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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

What is this discussion about? Volvo S60, Volvo S60 R, Car Leasing, Sedan


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#528 of 557
Re: S60 Volvo Demo lease [bestbuy08] by qbrozen
Jan 23, 2008 (8:22 am)
Reply

Replying to: bestbuy08 (Jan 22, 2008 5:50 pm)

The selling price is pretty good, I think. But I'm not sure about the money factor. Your depreciation cost alone is only ~245.50, so you are paying over $100/mo for interest and taxes. Off the top of my head, it seems like alot. But I need more details to decide, like the MF, fees, etc.
#529 of 557
Re: S60 Volvo Demo lease [bestbuy08] by bestbuy08
Jan 23, 2008 (8:42 am)
Reply

Replying to: bestbuy08 (Jan 22, 2008 5:50 pm)

Thank you for your response.
 
This is what I found.
 
MF .00173
Fees 349/1st payment
         7.50 tires
         125 doc fee
         359 reg
 
I look forward to your response.
#530 of 557
Re: S60 Volvo Demo lease [bestbuy08] by qbrozen
Jan 23, 2008 (9:12 am)
Reply

Replying to: bestbuy08 (Jan 23, 2008 8:42 am)

I stand corrected.
That is a GREAT deal, from what I can see.
You've got a good money factor on top of a deep rebate, and no unreasonable fees.
I plugged all your numbers into Edmunds lease calculator and came up with ~$351. So it sounds like the $349 payment you were quoted is right on.
 
And I must say, a damned nice car for $350/mo. congrats!
#531 of 557
Re: S60 Volvo Demo lease [qbrozen] by bestbuy08
Jan 23, 2008 (9:28 am)
Reply

Replying to: qbrozen (Jan 23, 2008 9:12 am)

I did the Edmunds math on paper.
I came up with 335.09? I'm not great at this.
Tell me if you would where I went wrong.
 
MSRP: 35150
Resi: 43%
            --------
Resi$: 15114.50
 
Selling Pr: 23955.39
Res: 15114.50
                 --------------
Used: 8840.89
                 /36 mths
                --------------
                245.58
 
Selling Pr. 23955.39
Res $: 15114.50
                --------------
               39069.89
MF .00173
              -----------------
Interst 67.59
Payment 245.58
               ----------------
Mth/Int 313.17
Tax .07
              ----------------
              21.92/mth
Mth/Int 313.17
              -------------
              335.09
 
They quoted me $349 plus 741 down. According to my calc. I think they should come down another 10/mth to be fair?
#532 of 557
Re: S60 Lease Programs [snaproll] by slesser
Jan 23, 2008 (9:33 am)
Reply

Replying to: snaproll (Jan 19, 2008 3:39 pm)

Snaproll, that is exactly what I plan to do. Best part is that the lease is a company lease. They are paying for the first 3 years. In 3 years I'll buy the car for $16,383 and give it to my wife. It will still be under warranty and only have 36,000 miles. She can drive it another 3 years until I have another car for her to buy.
 
She currently has a 2002 Mazda Tribute with only 36,000mi, all paid for. So in 3 more years this should have about 55K, it will easily go another 3 years. With no car payments for another 3 years.
#533 of 557
Re: S60 Volvo Demo lease [bestbuy08] by volvomax
Jan 23, 2008 (9:50 am)
Reply

Replying to: bestbuy08 (Jan 23, 2008 9:28 am)

Obviously, its a bank lease.
So, there is prob an acquisition fee rolled into the lease.
Unless the bank is M&I.
 
Your dealer quote makes sense w/ an acq fee.
#534 of 557
Re: S60 Volvo Demo lease [bestbuy08] by qbrozen
Jan 23, 2008 (9:56 am)
Reply

Replying to: bestbuy08 (Jan 23, 2008 9:28 am)

I assumed exactly what volvomax said ... there is probably a standard security deposit or bank fee. When you use the edmunds calculator, it adds that for you automatically, which is how I came up with the $350 number.
#535 of 557
Re: S60 Volvo Demo lease [volvomax] by bestbuy08
Jan 23, 2008 (9:58 am)
Reply

Replying to: volvomax (Jan 23, 2008 9:50 am)

Correct. It is a 3rd party bank. Not Volvo/Ford.
Is this bad?
#536 of 557
Re: S60 Volvo Demo lease [bestbuy08] by volvomax
Jan 23, 2008 (10:03 am)
Reply

Replying to: bestbuy08 (Jan 23, 2008 9:58 am)

Correct. It is a 3rd party bank. Not Volvo/Ford.
Is this bad?

 
No, not at all.
You just don't have all the numbers,which is why the payment you come up w/ is off.
#537 of 557
2008 S60 Lease - New England by adfreak
Feb 19, 2008 (7:28 pm)
Reply
So far the best lease offer I have received on a 2008 S60 2.5 w/ Premium and Climate Pkg (NOT AWD) is...
 
36 months at 12k miles/year
 
$1000 total cash due at signing (have not recieved the breakout yet)
 
$393 total monthly payment (includes 7% sale tax)
 
Question: Given that I do not have the particulars from dealer (MF, residual, cap, etc.), does this look like a good deal on the surface? Or, do you think I can hold out for the same terms on a AWD model or a better deal on the FWD?
  
Any thoughts?

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