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Prices Paid: Buying & Leasing Experiences Volvo XC60 Lease Questions
77 messages, Last post on Nov 01, 2009 at 5:12 PM
You are in the Prices Paid: Buying & Leasing Experiences Forum. Your Hosts are car_man & kyfdx
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Replying to: mkny83 (Mar 22, 2009 4:40 pm) |
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Replying to: mkny83 (Mar 22, 2009 4:40 pm) If you choose to lease your XC60 through a bank other than Vvolvo Finance, it is eligible for a $5,000 cash incentive. Car_man Host Prices Paid: Buying & Leasing Experiences Forum |
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Replying to: mkny83 (Mar 22, 2009 4:40 pm) If you choose to lease your XC60 through a bank other than Volvo Finance, it is eligible for a $5,000 cash incentive. Car_man Host Prices Paid: Buying & Leasing Experiences Forum |
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Replying to: Car_man (Mar 24, 2009 2:18 am) What's the story behind the $5k deal, is this a Volvo incentive and is it on most any Volvo? Chip |
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Replying to: Car_man (Mar 24, 2009 2:18 am) I am awaiting an XC60, and probably I will lease it when it arrives. I'm hoping the terms will actually improve somewhat by mid-May, but the current quote I have for a non-base model involves the $5k Volvo incentive, money factor of 0.0025 (6%), and residual calculated at 47% for a 36 month, 12000 miles/yr lease. Note this residual rate is somewhere between the 52% that the XC90 and its competitors rate, and the 41% that all other Volvos (and most relevant competitors) rate (based on LeaseGuide.com data). There seem to be many fewer lenders participating in auto lease financing these days, the economy and car market are in turmoil, and the XC60 is so new that no "accepted" residual rate has been established. So I guess that one cannot really argue with these terms, and of course they play around with all these things to shape the deal a certain way. However, it is disappointing because the XC60's direct competitors rate at 52%. If they had used the 52% number and everything else stayed the same, it would reduce the lease payment by about $50-$65 per month depending on how loaded the car is. If you were really confident that you could sell or trade in a 3-year old XC60 for 52% of the MSRP, and you have the cash to put up, then it looks like you could buy it outright and the depreciation cost would come out less than the financed lease payments, even with the $5k lease incentive. The lease basically protects you from uncertainty in that case. |
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Does anyone know if the MSRP on a xc60 lease can be reduced by 1) the AXZ Ford employee/friend discount AND 2) the $5k Volvo discount? Some dealers around NYC are quoting $489 month on $39,550 MSRP with 48% residual, 12K miles for 36 month lease with $2500 down. They arrive at the price by applying the $5K discount to the MSRP I'm told. As a native Detroiter, I'm used to dealers welcoming A Plan purchasers knowing their comish is paid by Ford. Around here in NYC, dealers don't even know what A Plan and are rather hostile to me telling them.
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Replying to: rosedale (Mar 31, 2009 6:47 am) > ...Around here in NYC, dealers don't even know what A Plan and are > rather hostile to me telling them. I never understand when I go shopping in NYC, why hostility seems to be the default sales approach. Is it really successful? Does this apply at car dealers as well? "If I let you see dis vehicle, you gonna buy it or what?" Oh yes I'll take two sir! |
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Replying to: rosedale (Mar 31, 2009 6:47 am) I went to the Volvo dealership in Cary, NC to inquire about the Volvo XC60 and Ford X Plan pricing. You can indeed take advantage of the $5K incentive by using an outside lender on top of X Plan pricing. Rumor in Detroit right now is that GM is going to role out some hefty incentives for April so it will be interesting to see if Ford follows suit. On the XC60 you almost have to get AZ plan pricing in order to make the overpriced XC60 affordable. I am going to revisit in a couple months once dealer inventories ramp up to see if I can squeeze an additional $1K off the price. |
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Replying to: Car_man (Mar 24, 2009 2:18 am) 1) Is the $5K cash incentive regional or nationwide? 2) Then how does the $5K cash incentive work? 3)I am looking at a 48 mth lease (33% residual) to keep the payments down but with the residual value would I be better off with a 36 mth lease? 4) How can I calculate the payments if I don't know the actual residual values?
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Replying to: steelerj (Apr 02, 2009 10:56 am) 2. At least in the NY area, there are no true base models. All models include the moonroof (which is supposed to free), the climate package ($1000) and most include metalic paint ($550 or so). That means the cheapest model on the lot is probably $39,500 after the delivery fee is included. The cap cost (ie the price from which the lease is calculated) is then reduced to $34,500. So they give you a $5k discount on a car that includes about $1500 to $2000 in options. 3. Can't answer that. 4. Leaseguide.com Best of luck.
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