2020 Volvo S60 T5 FWD - Good Deal?

Just got back from the test drive and after some initial back and forth I got the following numbers. Seems like a decent deal. Looking for opinions. Thanks in advance! Volvo has $4500 in rebates/incentives but they just gave me a Selling price of $31,696. Looks slightly higher than the calculator.

2020 Volvo S60 T5 Momentum FWD
MSRP: $40,805
Gross Cap Cost: $33,687.45
Selling Price: $31,696
Monthly Payment: $428.98
Drive-Off Amount: $0
Months: 36
Annual Mileage: 12k
MF: .00083
Residual: 54%
Incentives: $0 (I think they just rolled them into a lower sales price)
Region: PA
Government Fees: $178.47
Proc/Doc Fee: $389.00
Leasehackr Score: 8.9 years
Leasehackr Calculator Link:

  1. Know all the incentives/ rebates you qualify for.
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Did you sign?

What does edmunds say rv/mf/incentives are?

I do. I qualify for $4500 in incentives. They just said that was already taken off the Sale price of $31,696.00 instead of saying the sale price is $36,196 and you also get $4500 in incentives.

Not yet. Was going to possibly test drive a BMW 330 X drive tomorrow and see what numbers I can get, but wanted to gauge this lease option as it stands.

They gave me what I have it listed in the post:

$4500 incentives (they just already factored in the incentives towards the bottom line sale price. Not sure if there is a difference)
54% residual
.00083 MF

Just sent them a msg. Thanks.

The difference is that it allows you to compare pre-incentive discounts against other deals to get a better idea of the quality of the deal.

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It’s 11% off with $4,500 incentives. Good discount, but the deal still doesn’t look good.

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Please share the numbers you get tomorrow for the 330 xDrive. My 320 lease matures in March and I’m looking closely at the 330 xDrive to replace it. I too need zero drive offs and 12k miles/yr. and I’m in Ohio so it will be an interesting comparison.

Are you saying that the deal doesn’t look good because it is only 11% off not including the incentives and I should push to try and get more off MSRP before incentives? Thanks again for your input.

No. I’m saying that even with a strong 11% discount it is still doesn’t look good.

I am not trying to be ignorant but what would make it look good. Better percentage on MSRP? What is would be a factor. Fees didn’t seem high. Basically if you were me what would be your next step. Thanks again your time its appreciated.

You most likely will not get higher discount, so there is nothing you can do. I’d look at 2019 T6 R or Inscrption. There is $15k incentives on it in NE (thanks @Bostoncarconcierge) and you may get higher discount that will give you a better deal on a $10k higher MSRP car.

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Thanks for sending this…its not even close to the same deal though. 2019 vs 2020. I am putting $0 down out of pocket where these are putting upwards of $7000 down and its 10,000 miles vs 12,000.

I think you missed the point.

There’s no difference in 2020 vs 2019 as far as the car goes. The current incentives being offered by Volvo on the 2019s in some markets would allow you to have a much higher spec car for the same price you’re paying here.

Not sure where you’re seeing people putting $7k down.

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I was able to get them down to $414/mo. Thanks again for the info and advice everyone.

It is not your down but dealer’s discount. $7,000 = 16% off - $1,000 mileage penalty for assumed 5k miles for a loaner. For a new car just enter 11-13% of MSRP in Downpayment box.

I’ve just got an offer and not sure how I should get the deal down further:
MSRP: $40,940
Sale Price: $38,125
Lease Bonus: $2500
Volvo Allowance: $2000
Acquisition Fee: $995
Money Factor: .00129
Residual: 55% (12,000 miles)
Pre-Tax Monthly: $390
DAS: $2046