Deal Check: Volvo XC40 Recharge Ultimate ($487/mo, $9500 DAS)

Ask the Hackrs
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Car: 2023 NEW Volvo XC40 Recharged Full Electric, Ultimate trim
MSRP: $62K
Pre-incentive Price: $58K ($3800 off MSRP)
Incentives: $14K
Lease terms: 36mo/7500, Max MSDs
Residual: 49%
MF: 0.00195 (0.00145 post-MSDs)
Payment: $487
DAS: $9500 ($5K MSDs, $620 DMV, First payment, $300 sales tax, $995 Acq fee, $85 doc fee, $2K down for CVRP rebate)
LeaseHackr Score: 10.4

This is the 4th dealer I’ve approached and it beat the past 3. Was planning to outright buy the car, but looks like buying out the lease to cash in on the lease incentives is the way to go. Sign or nah?

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What is the Residual % on that?

I just received a quote from a so cal dealer quoting 48% on 10k miles for 36 months… seems way too low. Your quote seems more in line to what I was expecting.

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Added to OP. Residual was 49%

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Your DAS numbers look off. If I add up all of the components you listed it’s about $2000 short. So I assume that means you’re putting $2000 down (cap cost reduction). Also, $3800 of msrp is only about 6%. Seems like you could do closer to 10%. Maybe ping one of the west coast Volvo brokers on here.

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I had to round the numbers instead of putting everything in 1:1. Had bad experiences in the past with people trying to torpedo a deal in progress. Between the dealer quote, my calculator, and the leasehackr calculator everything matches down to the cent. But here is the example calculator based on my OP. Correct that I’m putting $2K down for the CVRP rebate, added that too to my OP. Sorry.

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This is a subcompact with like 220 miles of range. Why would anyone pay an effective $600+ for that?

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I think autocompanion can do better than that by a bit.

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No it isn’t. Do not buy this car…

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9

For this payment, why not get an Ioniq or Ev6? XC40 range is quite low, but ignore if your needs don’t require a higher range.

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ID.4 might be in the mix too.

Or of course a Model 3/Y

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There are at least 3 SoCal brokers that post C40 deals here. At least have them run the numbers before you sign.

I personally love the shape of the C40. There are a lot of EVs at this monthly price range, and I personally would have chosen the C40 just because of it’s styling. However, with loyalty incentive, I ended up with an Ioniq 5. But as others have mentioned, I don’t think the C40 is worth $62k, so I don’t think it’s going to hold it’s value.

EDIT: My bad. This is the XC40. I think the offer is on par with the broker deals.

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Isn’t 49% too low of residual on a 36/7500 lease?

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I’m seeing 54% for 36/10 and 55% for 36/7.5 in CA - 2023 Volvo C40 Lease Deals and Prices - Page 5 — Car Forums at Edmunds.com

My bad, this is the XC40 - the residual is horrible - 49% is right - 2023 Volvo XC40 Lease Deals and Prices - Page 6 — Car Forums at Edmunds.com

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Never mind…

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I doubt anyone is knocking down doors to steal this deal from you

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Have you checked with some of the SoCal brokers here?

If you’re planning to buy out the lease (does Volvo allow that?), RV/MF isn’t really as important as the dealer discount and the incentives.

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any value in getting one of these for 20k off with rebates and discounts and trading it in for something else?

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Another dealer quoted a better deal following my OP’s deal structure. A much better selling price, but slightly soured by $700 worth of dealer addons. About $9K DAS and $500 effective monthly cost. Also reached out to a local broker on this board and they couldnt beat this offer.

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Updated quote with some things fixed. Leasehackr score 11.3.

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Signed!

1 Like