2021 Volvo S60 Recharge R-Design Expression

There haven’t been many non-brokered Volvo S60 Recharge deals posted recently, so I thought I’d share mine that I signed today.

The downside is that they discovered a dent and scratch on the roof while cleaning the car for pick-up, which supposedly happened when the car was parked in the storage lot, so I have to wait a few days to get the car back from their body shop. Meanwhile, I’m in a loaner.

Hope this helps someone who’s looking, especially with all the recent supply shortages!

Year, Make, Model, and Trim: 2021 Volvo S60 Recharge R-Design Expression
MSRP: $55,590
Selling Price: $51,138 (8.0% pre-incentive discount)
Monthly Payment: $492.80 including tax
Drive-Off Amount: $5,492.80 ($5,000 of MSDs plus first month’s payment)
Months: 36
Annual Mileage: 12,000
MF: 0.00155 (bought down to .00105 with 10 MSDs)
Residual: 54%
Incentives: $7,000 lease bonus, $1,000 loyalty, $1,133 CCFR, $500 affinity
Region: Southern California
Leasehackr Score: 10.5
Leasehackr Calculator Link:

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How did you come up with $1380 in taxed incentives and all the rest untaxed?

A lot of Volvo incentives are straight to the dealership (and why dealerships include them in the discount), and they end up not being taxable. I forget how CA treats them, but even NY doesn’t tax incentives paid directly to the dealership.

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I know, but $1380 is awfully odd and doesn’t add up from anything the OP listed that I can see. And is the $7k “lease bonus” a dealer or customer incentive? The wording makes me think customer incentive. I’m trying to pin down the payment discrepancy and taxes would be the first place I’d look, assuming it was not a demo and therefore had an RV adjustment.

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It’s messed up in his calculator.

At least that math adds up. Still $10 cheaper than OP’s payment.

OP, are you sure about the MF they charged you? You could always post your contract with personal info blocked so maybe we could figure it out.

I know, just used his 8.9% discount. MF is correct, it’s in the calculator, remember? But you trust Edmunds more than your own LH :slightly_smiling_face:
Edit: I know what you meant, maybe you are correct about MF

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You have $2133 in taxed incentives. The rest are untaxed as they’re rolled into your selling price.

$7500 in untaxed incentives would put your selling price at $51137.50

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The calculator I posted is off by $1. Probably due to taxation on some fees or something

8% pre-incentive at buy rate isn’t bad given the current Volvo market.

Don’t forget the $500 post sale rebate from bonus drive if it’s still available

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It is! Just got mine approved by BonusDrive and now waiting for Volvo to approve.

@justlooking12345 if you do zero DAS, the amounts DAS like registration and inception are still on the paperwork but then rolled back into the sales price so you pay them over the lease price. That might cause the discrepancy.

Here’s the BonusDrive link for another $500 assuming you qualify (traded in a non Volvo OR have a non Volvo registered to your address). Ignore the expiration date the offer is definitely still valid in 2021.

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So, $500 affinity is not taxed? Good to know, but I thought direct to customer rebates are always taxed.

I would have expected it to be, but it’s not on the contract, so it was either left out or rolled into the selling price.

I think I figured out the discrepancy, which is pretty simple, like you suggested. The selling price, net of the $7,000 lease bonus and $500 affinity (both untaxed, apparently), was not 8.5% but rather 8.0%. Case closed!

Yep, $500 rolled in most likely. Or he didn’t get it.

I corrected everything in the OP. Thanks for the sleuth-work!

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Thanks for posting this - I had no idea this program existed when I bought my V60 last month. My endless hours browsing LH for no good reason have finally paid off :slight_smile:

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