I currently drive a 2020 S60 T6M which is due back on 6/1. I got a great deal on it through a dealer on LH ($384 DAS $384/month for 12k 36m) and that seems impossible to even get close to. I spoke to about five dealers, including the one I got my car from, and all of them are ~$600 for an S60 with a similar MSRP ($48K-$51k). I love the car and really wanted to lease another one but it seems like I am getting priced out. What other vehicles should I be looking at? I like the performance and style of European cars over other manufacturers but am completely open to suggestions. Thanks in advance!
You won’t find much under $400 for a similar vehicle. Have you considered buying out your S60?
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What’s your current vehicle worth vs the buy out? Maybe a few bucks of equity you can roll into the new one to help a little.
I have considered buying it out, the amount is $27,600. The interest rates aren’t great though.
I haven’t gotten an appraisal from a local dealer yet but plan to next week. If they can squeak out a few thousand in equity that would be helpful for sure.
I’m willing to spend up to $500/month for something similar (sedan, sporty, luxury, awd). Every dealer is pushing me on the XC40 but I don’t love it.
It’s not there.
If you can do an EV, the BMW i4 could be a good option, when you take into account the gas savings your net cost should be similar.
If you’re looking for a gas powered, compact luxury sedan, that not a realistic target.
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The same goes for a new lease/purchase…
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Depending on where you live and your use, take a look at the model 3
That’s what we ultimately replaced our V60 with.
The closest competition as a cheap commuter was an Altima
Really nothing in this price range right now.
Get yourself a bridge car to hold you over. Look at Nissans for 18 months. An Altima SL will prob be similar to this S60 in size/performance/specs and in that price range .
Yeah it feels like I am hitting a dead end. I would be open to an EV as well.
Keep in mind: in NY you paid the sales tax upfront, and your Volvo should be under warranty for another year (4y/48k). And IIRC NY gives a sales tax credit for trade-ins.
Be sure to factor the taxes into your calculations…
Buy it, get it CPO and keep it.
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I too leased a 2020 Volvo (T5 R-design) back in April 2020. Got a great deal too. $399 +fees/title/tag stuff down / $399 per month tax included. It was due this week but I ended up getting a 2023 S60 Recharge at the end of December. Volvo ate the rest of the lease and the fees associated with the turn in. I bought because the prices of the lease were ridiculous, even with loyalty.
Now, since someone mentioned an Altima… I bought my daughter a 2021 Altima new back in May of 2021. My wife also bought a new one at the same time. So I can tell you from driving both, the Altima does not compare to the Volvo obviously. However, the Altima really is a solid, safe and fuel efficient car. It averages 32 mpg (mostly highway driving) and has some good features in the SR models. If it had the adaptive cruise control and a few more creature comforts, I’d rate it a bit higher. We paid just under $25k each for them.
Good solid new car. Only issue they’ve both had is with the backup sensors saying they have an issue. Dealer could not find an issue. Beyond that they both have over 20k miles and all is good!
Good luck with whatever you decide!
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The new Altima does have the adaptive cruise and lane keeping, at least at the SR trim. I have a 2023 and also had several recent Volvo cars. They are not in the same ballpark.
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Maybe I just had a sh*tty rental, but I don’t think the rental Altima I had several mos ago even compared to the rental Camry I had recently…
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My daughter went from a pretty solid used Corolla to a new Altima. For the $25k price with what it offers, it’s a pretty good car. The SR trim felt a little more solid than the base model. Well at least the interior was nicer!
For comparison I had a 2017 Maxima for 18 months (got rear ended and totaled out) and it was way better - night and day - when compared to the Altima. Felt about equal to a well equipped Camry/Avalon. It was pretty quick too with the V6 it had. Not sure they still offer that engine.
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Most people renting Altimas get the base, stripped down S models and occasionally get a base SV model. Those are drastically optioned down from the higher trims.
I have a 2023 Altima SL AWD and also have a 2020 BMW 530xi in the family household.
Not that I’m comparing an Altima to a 5 series, but the Altima has everything the 5 series has, If not more . Real leather , safety features including 360 camera, ACC, parking sensors, lane departure warning, 12” radio screen with Bose system and consistently gets 35mpg highway.
With Nissans strong 18 month program, it’s an option for OP to get into a similar specd sedan to bridge himself for 18 months while sedans in those other classes get better.
We don’t want him going out and leasing a C300 for $800pm for 54 months.
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Agreed. With the Nissan programs added to the Altima SL being a pretty good value for the money this would be a good move.
I don’t know. I did the same thing (cheap Altima lease as a bridge) and I regret it. It’s a good car for all the reasons you state, but it’s just not “unique” enough for me. Some folks view cars as appliances, and don’t care about the experience as much as the value proposition. I discovered that I’m not one of those people. YMMV, but I suspect OP has a similar preference (given his pointed appreciation of his Volvo).
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