2 questions from a leasing newbie

Hello,

I plan on leasing a car (most likely a Volvo XC40 or 60) in the San Francisco area in late June with the help of a broker. This site has been very helpful in learning about the lease process, however there are 2 questions that I was not able to answer where I would greatly appreciate any insights from the community:

  1. Estimating annual mileage - As I’ll be moving to SF with a new job in late June, I don’t have any historical figures I can look back to in order to determine the # of miles I need. Aside from looking at Google maps to find the distance between work and home (~14 mi. on weekdays), how much cushion should I have for the other times I drive? I know the answer is largely on a case-by-case basis, but any advice for an average driver would be helpful.

  2. Key things to research - Even though I’ll be working with a broker, I’d like to want hear any advice on things I should look into myself. For example, some things on my list currently are to make note of the car/trim/options I would like and perhaps check out other forums about the Volvos to ensure there are no major issues and if I should lease a 2020 or 2021 model. Is there anything else?

Thank you in advance for your help. I’m happy to provide any additional context if need be.

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Exactly. You are at ~ 6,720 (14 x 2 x 240) for your commute, and you’re not far from Napa and Bodega Bay. For me, 7500 wouldn’t be enough, I’d want 10 or 12k.

Both the XC40 and 60 are great, probably won’t be any 2020s by the time you shop but I wouldn’t worry about that. Drive them both a couple times and see what you like/don’t like.

Anecdotally from one Internet stranger: I’m about halfway through a lease on an XC60 that I love, it’s my 7th lease (first Volvo), and the first I used a broker on. Especially in this market, I would hire a broker (there are several good ones that do Volvo, and out-of-state who ship). I would pay a deposit with a broker now to get on their schedule, pick out what you want, let them do their thing.

Marketplace, Shared Deals, and Seller Reviews are all good places to explore here as you make your choices. And keep asking questions.

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Test drive, look out for 2021/2022 and sign up for Costco if you don’t already have it. Also, if you’re considering other makes/models, see what qualifies for add’l incentives (e.g. PenFed, car clubs, etc).

Depending on where you’re coming from, you’ll want to see which markets have better deals. Also, do you have a parking spot in SF or will you need to find/pay for one?

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Thank you for all the helpful points and I’m glad you’re enjoying your XC60. I’ll take your advice to talk to a broker sooner than later.

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All great points. Did not think about the add’l incentives you mentioned - Thank you.

No 2020 support for Volvo. Sign up for Volvo Car club of America for aplan (750).

Penfed is a alternative but only 500, but cheaper to get. Costco is good to have for volvos.

:chocolate_bar:

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You have to a member for a year, unless they changed it.

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I think you’re right but I’m not 100% sure, I don’t have a membership so I can’t confirm (no brand loyalty here). PenFed is 60 days, so I’d sign up for that ASAP with a savings account with the minimum deposit.

:chocolate_bar:

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I had it for a year before getting my '19 S60

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  1. If your work commute is 7k and this is your only car (used for pleasure driving) double that number.
    So you will need 12k or 15k

  2. Make sure your broker has been around for a while and doesn’t ask for Fees upfront before a quote. Note: Don’t ask them which dealer they are getting the car from. Just make sure it’s nearby. This is the sign of a customer who’s going to skip them and try to ‘deal it themselves’ and a lot of brokers put up their shields when this question is asked.

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Thank you for your response. A question on your second point before your note - I would’ve thought brokers would want their fee upfront before procuring a quote, to prevent people from circumventing the broker as you’ve mentioned in your note. Maybe I’m misinterpreting your message there.

Some do, some dont. If you pay upfront, then really the broker is working directly FOR YOU to get you the best deal. If they aren’t taking fee, they are being paid by the dealer, which isn’t a bad thing.

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