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Volvo S60: Lease Questions

557 messages,  Last post on Dec 15, 2008 at 4:05 AM

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

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#556 of 557 buyout S60 lease? by rss62 Nov 22, 2008 (2:09 pm)
my 3 year lease is up 12/31/08. I will have 26k miles on car at that time and otherwise car is in very good shape. Residual value buyout option is $19k. Edmunds.com values are: $17.85 trade-in, $19.5 private party, $21.1 dealer and $23.4 certified.   Is buyout option a good deal? What are chances I can negotiate a lower buyout price from Volvo Finance?   thx for advice. Replies to this message: Car_man (Dec 15, 2008 4:05 am)
#557 of 557 Re: buyout S60 lease? [rss62] by Car_man HOST Dec 15, 2008 (4:05 am)
Replying to: rss62 (Nov 22, 2008 2:09 pm) Hi rss62. The values of used vehicles have absolutely fallen off of a cliff over the past several months. They are dropping so fast that most on-line price guides can't even keep up with them. Chances are that your S60 is worth less as a trade right now than the value that you mentioned.   It would be a good idea to shop around with a few actual dealers to see how much a similar used vehicle is really going for right now before pulling the trigger on buying your S60 at lease-end. Also, it wouldn't hurt to place a call directly to Volvo Finance, or whichever bank you are leasing your car through, to see if they would be willing to negotiate your car's end-of-term purchase price. More likely than not they won't, but you don't have anything to lose by trying.   Car_man Host Prices Paid: Buying & Leasing Experiences Forum

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