Leasing newbie here. I’ve done tons of research and I’m still finding this overwhelming.
Would anyone be willing to offer feedback on this offer?
LEASE OFFER - VOVLO XC90 HYBRID PLUG-IN
It’s hard for folks to evaluate without a bit more info. Do you have the actual offer sheet from the dealer?
Do you qualify for any rebates? (Loyalty, Costco, affinity). Can you provide info on the trade?
What year and trim is this? I ask because 66% RV seems a bit low.
Are you willing to put down security deposits?
Apologies I’m new to this. Thanks for the prompt.
I don’t qualify for any rebates.
YEAR: 2025
TRIM: T8 Core 7-seater
TRADE-IN: 2020 Honda CRV with 45,000 miles. They are offering $17k ($16 left on the note)
Yes, I’m willing to put down security deposits.
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Seems like a pretty terrible deal. This car gets $10k in rebates without you qualifying for anything. So they are giving you 0 discount off MSRP. MA can be a bit tough (I’ve canvassed all dealers for a specific model combo I was looking for), but you should be able to get at least 6% off MSRP, and 8-9% if dealership is motivated. They also seem to be massively jacking up the money factor on you. Here’s my best guess at your calculator with incentives and fees in the right places and residual updated to 70%: CALCULATOR | LEASEHACKR
And here’s a calculator with a 6% discount and buy-rate on the money factor: CALCULATOR | LEASEHACKR
Still not great, but payment is $300/month lower. You sure you don’t have a Costco membership, friend with ABA/AMA/ADA that could sponsor a pin for you, some other type of affinity through you or your spouses work, etc?
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Thank you. I was proud of myself for not letting them pressure me and I am visiting two other dealerships today. There is a Costco membership in my family but it’s not in my name. I might have a friend with one of those affinities but while I’m interested in the best deal I can get, I’m also willing to forego those affinity benefits and just focus on negotiating.
I asked about the Money Factor and he cited 0.00359. I have an 815 FICO (which I think is supposed to help?
I did not know the car qualified for $10k in rebates, so I appreciate your contextualizing that! Thanks for all the other data. I feel no pressure to do this if the deal isn’t right. I was just trying to be opportunistic about year-end deals because I would really like a new car, but have the willingness to wait for the right deal. Appreciate your willingness to share your knowledge with me.
No need to visit any dealerships unless you are test driving a vehicle. You should be making offers online or via email. You can search this forum on how to go about this.
You shouldn’t really be asking for all those details. A dealer can mark up the MF in lieu of a bigger dealer discount. At the end of the day, as long as they hit your target monthly payment, it doesn’t matter what the MF is, IMO.
If this is too much work for you, reach out to Mike @Bostoncarconcierge. He is a MA broker and works with Volvo dealers in the area.
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Have you thought of reaching out to a broker? A quick email to @Bostoncarconcierge would save you a lot of time and get you the right deal!
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Thanks for the feedback. I need to determine my monthly payment number. I was unclear about that ahead of time but have a firmer sense now after more research. Really appreciate it!
I would still need to take the trade-in to the dealership to get an estimate for it, correct?
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I just sent you my leasing basics sheet, which will help you.
Don’t use your current car as a trade-in. Do that deal separately and get quotes from CsrMax, CarGurus, etc.
As someone else mentioned, talk to Mike at @Bostoncarconcierge and see what he can do for you.
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Great advice. Really appreciate it. Will be in touch with Mike.
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Yes. You can also take your current CRV to a CARMAX to have it appraised or input it into Carvana, KBB, or a few other sites to get an appraisal.
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Makes sense - as others have said, doesn’t really matter if they are marking up the MF if they give enough of a discount to make it worthwhile. Agree with others that it makes more sense to sell/trade your car to CarMax or others separately (or at least know what it is worth) to maximize your value.
If you put $2500 down (removing any trade from the equation, as you would do that separately) I would target around $660/month as a good deal in MA without any incentives. You could lower that more with MSDs, but MSDs will be expensive at that payment level. I would definitely see if you have a friend with AMA/ADA/ABA that could sponsor you now though (start canvasing contacts to see if anyone does). That alone would save you $100/month without any additional negotiating. Costco would have to be in your name though, so sounds like you can’t do that (would be another $100/month). And if you or your spouses work qualified for an A-plan or affinity pin or loyalty (healthcare workers, lot of large corporates, etc.) that would be another ~$25/month without any additional negotiating.
Here is what I would target in MA for this car without any incentives (you can add $2000 to the untaxed incentives if you find ABA/AMA/ADA sponsorship, and $500 to untaxed incentives if you have a-plan/affinity through jobs): CALCULATOR | LEASEHACKR
Also, one other thought. At $76k MSRP, I would much prefer an XC90 Plus vs. Core. Lot of extra nice to have features and the MSRPs on most Pluses are $76-77k so no different than what you are paying for a Core now
Without Costco and/or AMA-ADA-ABA I don’t think this will ever be a good deal.
Most people who got XC90s here stacked both and you have neither—what other vehicles are you open to?
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Is this costco membership within your immediate family & address (e.g. spouse)? IIRC, you can just change the name / add additional family member to existing account, as long as its within your registered address.
Also: as others have stated, prob better looking at the plus. Without any rebates, you may have a chance at a decent lease if you’re open to loaners with some miles on it.
Thanks for the referral. He was great.
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You are welcome. I’ve leased a Tacoma and 2 Wrangler 4xes from him! He’s a gem.
You probably did not notice that Leasehackr has a pre-negotiated deal for the XC90 - check out here:
https://pnd.leasehackr.com/d/241227-1733356605/reserve
As for the Costco membership - just get one for the year, it is $100 and will save that much every month - no brainer.
In any event still contact the broker they should be able to give you a quote before you decide to enter into a purchasing contract. If their number is t the absolutely lowest - including the brokerage fees - just walk.