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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: 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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Replying to: rosedale (Apr 02, 2009 1:35 pm) |
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Carman: Do you think this $5,000 wil be around in May? A rep at the NY autoshow also told me that in addition to the 5K, they offer an ADDITIONAL $1,000 conquest cash for owners of Audi, BMW, Mercedes. I am trying to lease a XC60 with an MSRP of 44,000, cold weather, nav, etc. 15,000 miles a year 36 months. What type of discount can I expect off teh MSRP, before the incentives? What should the monthy payment be, assuming I can get the car for 42500 minus the $6,000, so a selling price of 36500? Thanks!!!! |
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Replying to: dpeck1 (Apr 13, 2009 4:15 pm) 2- Conquest money is $1,000 if a person in the same household owns a Mercedes, BMW, Audi, Acura or Lexus. For instance, your wife is driving a Mercedes, then yes you do get the conquest money. 3- Panoromic sunroof is free of charge until further notice. Most if not all the cars in South Florida have panaromic roof. 4- Dpeck1, more than likely they will keep the $5,000. Without any additional money on the car lease would have been thru the roof. 5- Keep in mind that usually when a new car launches the residuals are set high. Volvo will introduce the 3.2 FWD version of the car though there is no specific date yet.
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Replying to: serdarfl (Apr 14, 2009 1:27 pm) 2. I was told last week that the dealerships should find out on 4//15when Volvo updates their incentives if it includes a loyal customer incentive of $1000 since so many people have been upset that there wasn't one. 3. Also, we could only get them to drop the MSRP by $1000 off our fully loaded model and they only did that after we said we were going to look at Lexus again. So we'll get $6000 off the MSRP. 4. We also found out that US Bank has a maximum they are willing to residual of $43,400, so while that actually lowers the residual value of the car, it doesn't affect the actual incentive amount they take off the MSRP. So, in the end if we decide to buy it, then we'd get it for a lower amount than if the full MSRP had been residualized. 5. My car just came in on the truck this afternoon. Picking it up Saturday! It's a real beauty! I bought a black sapphire body with black on black interior (which looks dark gray) with the stainless interior. Looks a LOT sharper than the blond wood and mixed color seats.
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