Ideas on new lease or buyout Volvo xc60

Ask the Hackrs
1

My lease for 2019 Volvo XC60 polestar fully loaded (65K msrp) is coming to end in August. Have only 800 miles left on the 45k allocation so might be pulling the trigger earlier. We like the car but I am not sure if I want to deal with a supercharger and turbocharged engine and the problems that can come with it if I purchase it. They had to replace the ECU last year. Would have cost a fortune out of warranty. My current lease was 0 down 475/month. I know deals are hard to come by but are there any lease deals on a vehicle with ~300 hp with semi-auto (lane keep and smart cruise similar to Volvo’s pilot assist) and preferably 2 rows? Open to sedan or suv.
If I have to purchase at full price, might as well purchase the Model 3 long-range or maybe buy the Volvo out . I was surprised that Carvana/carmax purchase price on the Volvo is about 3K less than what I owe on the lease.

Thanks in advance!

2

Wrangler 4xe with the safety and advanced safety sounds like best bang for your buck in the current market

1 Like
3

The nearest car is the Alfa Stelvio but that is $600/month. So either buy or extend, but you can’t extend without having another Volvo on order. Volvo FS is extremely strict on Lease rules compared to all other Banks.

4

Sorry. Not sure what extend means. Can they add months/miles for the same monthlies?

5

Yes, SOMETIMES (it really depends on many factors) they will allow you to extend the lease payments past your agreed 36 or 39 or 24. This may not affect the RV at the end btw. You have to call, it’s not automatic

6

Confirm for yourself, but when I spoke to VCFS a week-ish ago, any extension required a copy of paperwork showing you ordered another Volvo.

7

Extension is a very short term solution. Like others have stated, VCFS is not willy nilly handing out extensions.

Even if you got a max 2 month extension, the market is not changing much in that period and you will be back to ground zero.

8

Money Factors will likely be higher though

9

You can buy out the lease and CPO if for ~1300 and then you have unlimited mile warranty for next 2 years. You’re not gonna be able to get a car of that level for that payment at this point in time. Just bought out the XC90 with 43k on it and it’s loaded with air and everything too. It’s never had a problem.

1 Like
10

I have been thinking about that but the residual is so inflated that the buyout is about 39k and carvana/carmax are 33-35k so makes me pause.

11

CPO gives 1 extra year and he will be out of the regular 4 years/48k miles warranty in 4k miles.

12

CPO gives you 5 years unlimited miles from date of inservice, so yes an additional year. I should have phrased better before. He can get the car CPOd even after crossing the 50k mile mark. I helped my family member with that on his V90 RD buyout.

You can see on cars.com under user cars that there are SPA cars with high miles now and the ones built after 2016, especially 2019+ when the processor for sensus was updated, are pretty solid cars

My 2019 XC90 is going towards 50k and I know I need pads and rotors but besides for that the car has been solid and overall a great car with minimal maintenance. My neighbor is closing in on 100k on her 18 XC60 and it’s been trouble free too. Servicing at a local Volvo mechanic is also very reasonable

1 Like
13

All I’m saying is the CPO won’t cover him for 2 years due to his high current mileage.

14

That only protects him from most repair bill possibilities, but the depreciation (Buyout + TTL less future resale value) will kill him.

He’ll be at 80-90k miles and the resale value of a Volvo that old is painful.

15

Your thinking is correct. When a car isn’t worth its RV in the most inflated used car market in history, don’t buy it.

2 Likes
16

I disagree with you. He can buy the car out. CPO it from the dealership. It will cover him for 2 years and unlimited miles. Just cause he has 43k miles doesn’t mean anything. He can put on 143,000 as long as it’s in that 5 year period it’s covered under Volvos warranty. It obviously won’t cover brakes, tires, etc…

My neighbors XC60 which is CPOd has 80k and she is still under warranty for another 20 months or so with no mileage restriction.

But yes I agree with you all the residual will be crap but for us the XC90 will go 150k+ miles and residual value won’t matter. Volvo itself is known as a “waspy” brand where a lot of owners will drive their cars till the very end and when they’re finally dead they will order a new one. Other owners are those who lease like majority of us. Overall I wouldn’t be concerned buying out a leased XC60

17
  1. He buys the car today and gets CPO.
  2. He hits 48k miles in 3 months (example) - the original warranty ends and CPO starts for the next 12 months.
  3. His total coverage with CPO: 15 months and not 2 years as you said.
    Hope this is clear now.
3 Likes
18

I now have to call Volvo corp today cause this is not how I understood it or how even their ads with terms and conditions. Their sites all state the same of 5 years unlimited miles and it’s 4 years 50k miles for Volvos standard warranty

19

You’re in NJ? Then it’s a no-brainer to get an EV for the sales tax exemption and fuel savings.

Also: ignore sunk costs and past irrelevancies while you evaluate your future choices. What you leased in the past or paid is irrelevant.

If you had 2 choices today for the same future usage (drive another 40-50k miles in the next 2.5 -3 years, you’d look at the TCO (depreciation including TTL when applicable, fuel, maintenance, insurance, etc):

(A) buy a brand new 3LR for 56k OTD or
(B) buy a 2019 XC60 for $39K + TTL

There’s just no evidence at all to support B. Depreciation, fuel, and maintenance are in favor of A.

2 Likes
20

Best part of this forum is the awesome discussion. Thanks, everyone! I think the XC60 is going back. Will get dinged over the slight rim scrape and the back child seat hook cover which my son broke off. I am going to miss the incredible B&W sound and the buttery engine. Won’t miss the initial hesitation when you floor the gas.

The ~100 miles advantage and the supercharger network that Tesla has over all other EV’s is so hard to ignore.

2 Likes