Deal Check: 2021 Volvo XC60 T5 momentum. NY

Ask the Hackrs
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1

Hi LH, First time leasing, and this is the deal that I decided to take. How is this deal compared to what other’s have seen so far?

2021 Volvo XC60 T5 momentum
MSRP: $46,500
Selling Price: $38,900
Monthly Payment: $412
Drive-Off Amount: $0
Months: 36
Annual Mileage:7.5k
MF: .00089
New MF after MSD: 0.00039
MSDs: 10
Residual: 59%
Incentives: $1250 Costco
Location: NY (purchasing from NJ dealer, through a broker)
Leasehackr Score: 10.6 years
A few hundred for the broker fee.

Leasehackr Calculator Link:

We are driving to the dealer on Saturday to sign the papers and pickup the car. We are considering getting the Lease End protection which I’ve been quoted as it being $795 for up to $5K in coverage. I am still undecided about this, but street parking in NYC is bound to result in some bumps and scrapes over the years.

This ended up being a long drawn out process, because we couldn’t find the right car (color and options) for us, as we wanted to keep it at around $400 for monthly payment with little to no upfront payment. I was indecisive, but the broker was patient with me and answered all my newbie leasing questions.

In the end, the car is missing one option that we really wanted, but we got the color that we like, and we thought that it was around what our budget allows.

I’ve been told that GAP insurance is included with Volvo, so I guess that’s one less thing for us to worry about.

We were hoping to also get the Healthcare worker discount, but apparently it can’t be combined with the deal that I am getting, but still I think it’s a pretty good deal.

Any tips for when we pickup the car? We have to drive an hour or two away to go pickup the car, and I guess we should test drive it before signing the papers. Anything else to ask and verify?

thanks!

2

You need to separate out the rest of the incentives (Volvo allowance/dealer lease cash) from the sales price to properly compare.

If you’re working with one of the NE brokers on here, I’m sure it’s a good deal, but if you really want to dig in to the math to do your due diligence, start with pulling out the rest of the incentives and comparing pre-incentive discount against other deals.

3

How do I separate them out? I don’t have these figures. I can take out the Costco discount, and the Leasehackr Score comes out to 9.7 years.

4

Edmunds Forum is Your address.
I couldn’t find anything for NYC zip codes but i think our region has the same numbers
kyfdx
December 8
C_Sorrr said:
Can I get the MF, RV and incentives for the XC60 AWD T5 & T6 Momentum & Inscription for 36/12 in 06606? Thanks!

T5 INSC: .00048 MF and 56% residual. $1750 lease bonus
T5 MOM: .00067 MF and 55% residual. $2250
T6 INSC: .00043 MF and 54% residual. $2250
T6 MOM: .00081 MF and 56% residual. $2250

5

Thats incorrect. Its $1500 for all.

1 Like
6

That’s not correct.

2 Likes
7

The dealer is correct. An NJ dealer showed me the program sheet this summer. Clearly says the discount must be 5% off or it is a fraudulent incentive claim. Any dealer who gives it to you is taking a massive risk by violating these terms

9

Anyways, I am pretty happy with the deal that I’ve gotten, and we look forward to driving the new car soon, and sell our old Mazda cx-7 (2007) that had a ton of problems over the years.

For the Mazda cx-7, we received offers from CarMax ($1826), then Carvana ($1437), and Vroom ($946), and we are surprised about the differences in the amounts. Let’s see how this goes, and I’ll post separately on the results from this.

Thanks to those in the forum that helped me through this process, and it’s been a much better buying experience than going to the dealership directly. And I think I’ve gotten a better deal than what I would have been able to pull off on my own.

(Although I did have to suffer through negotiations at the dealership a bit after test driving the cars. Each test drive ended up being like 2-3 hour trip each, and that wasn’t fun. Not sure how I’ll get around that for the next lease.)

10

Its 100% correct in the NY area, not my fault you fraudulently short the deal so it looks like an invoice deal. We are above board thank you very much.

1 Like
12

Here’s the Vehicle Lease Agreement.
The thing that I am concerned about is that the (“Total Lease Cost” $14,374) from the calculator is very different than what’s in the Lease Agreement (“Total of Payments” $18,339.95).
Also the Rebates and noncash credits is $2250, but I thought it would be $2750. ($1500 + $1250)
They were able to take my Mazda as a trade in and gave me $1600, which is more than what Carvana offered. So I took it and they credited it towards the MSD. I also opted for the Lease End Protection, which was around $864 ($795 + tax).

I felt a little rushed, and I signed without reading the agreement carefully. We walked out after giving the sales rep, who was really nice and friendly, a check for $3760. I guess for the next time we are leasing, I’ll have to be more thorough. The monthly looks right, and I was assured that $3760, plus the trade in would go towards the MSD. Let me know what you guys think. If I made any mistakes, go easy on me. :slight_smile: I’ll do better next time (3 years from now)!

Vehicle Lease Agreement 1
Vehicle Lease Agreement 11750×2222 892 KB

Vehicle Lease Agreement 2
Vehicle Lease Agreement 21760×1332 500 KB
Vehicle Lease Agreement 3
Vehicle Lease Agreement 31698×1970 517 KB

13

It says $14,852, and does not include your drive offs.

Screenshot
Screenshot625×371 118 KB

1 Like
14

This is a loyalty deal. In the 79 messages we exchanged, you didn’t say you had volvo loyalty. Had you told me it was a loyalty deal, my pricing would have been significantly cheaper than this.

15

Was OP ever able to confirm whether he qualified for loyalty or did the home of the $497 doc fee scam it?

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