Only other vehicle we have is a Model 3. No way that is going to work out. lol
Approach this from a different angle. With a model 3 and and the ability to pay 1k a month for a new vehicle your clearly financially stable enough to just sell the xc40 and cover the deficit. Do not combine the bad decision with a a new decision. Start the new lease out free and clear of debt. I know far to many people that roll the ball down the hill until eventually they have a mortgage payment for a car.
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How many kids or passengers do you plan to transport in the new car? Have you looked at other SUVs that might lease better than the Volvo? Or are you and your wife dead set on either the XC60 or XC90?
^^^ this is solid advice.
This is wrong
Donât listen to him.
Question this is asking is if you do REALLY need another car. If yes, then pay off the negative separately, large sums of negative is usually a bad idea.
Last I checked it was not.
Do this. Also find the edmunds forum for lease deals, ask for the respective MY money factor and incentives.
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They can inflate your trade value because the deal on the new vehicle sucks. Like everyone here has said contact as many dealerships you can and negotiate a deal without mentioning your trade. After that if they want to offer you more that carvana, vroom etc then great. If not you sell it to another party and eat the difference.
Thatâs some wonky math.
Letâs clear the Fed EV rebate up. They give it to who ever is on the title, so for a lease thatâs Volvo financial and they arenât giving that back at the moment (same story with the BMW X5 45e). Iâm pretty sure the T8 incentives are actually lower than the T6 so theyâre really screwing people over. So if you want that rebate you have to buy it, or wait and hope they add the incentive at some point. Going for the T8 at this time via a lease is a terrible financial choice especially with the negative equity.
The dealership has no say in what incentives Volvo set, they just choose how to apply them.
What possible motivation would they have to do that?
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How on earth do you owe 46K on an XC40? Did you get it last week?
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Two months ago. The wife bought it when I was out of town.
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The plot thickens. So after 2 months, you guys are sure the XC60/XC90 is the ârightâ car for your growing family?
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So, your family started growing within past 2 months? Then you have at least 7 months to wait, and even then XC40 is big enough.
Or your family was growing before XC40 but your wife didnât realize that? 
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What does any of my tattoos have anything to do with this? I suggest you take your comments elsewhere.
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My father-in-law has COPD and is terminal. My mother-in-law and him are going to move in with us so we can take care of them. Between adding them to our family plus my some other personal details, which are private, the XC40 no longer meets our needs.
Keep in mind that the space difference between the xc40 and the xc60 is not that significant, especially considering the thousands and thousands of dollars youâre talking about undertaking here to gain a few inches.
Have you considered keeping the xc40 and purchasing a used minivan for the times you need the extra space? Iâd bet you could turn around and sell it when the xc40 is in a better place financially and lose next to no money compared to the fat stacks of cash that are about to be lit on fire.
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Iâm looking at both the XC90 and XC60. I think I mentioned that in the first post. The quote above is for the XC90.
Thatâs fine, but be aware that if space is your motivator here, the xc60 isnât giving you much for your dollar.
Out of curiosity, why the t8? The programs right now donât seem to be there to make it a strong value proposition and on a lease, youâre unlikely to every realize the gas savings roi.
We see a lot of people come through here trying to lease hybrids for the gas savings, not realizing theyâre spending a dollar to save a dime.
Both both myself and the wife will have to share the vehicle at times she doesnât want to drive a minivan. I also dont want to pay insurance and such for two vehicles. Yes, thatâs an option, and a very logical one but I am not the only person making the decision here.
Maybe it makes sense to ditch the Tesla and just hang on to the XC40⌠Good luck convincing her to do that though. LOL
XC60 is only a size up from the XC40. I know this isnât a personal finance forum, but I really think you need to forget the XC60 entirely.
Time to have a come to Jesus with the wife, too.
A little disclosure: we have a 2018 S90. Beautiful car. We also have a paid off sienna with over 100k on it. Thatâs our hauler. Nobody loves driving it. Itâs a boat. But weâre a big boy and girl and donât feel insecure driving this unbelievably functional vehicle around that costs me nothing per month but gas and the occasional break job. Stop buying new cars.
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There is a lot of solid advice and fresh perspective already in this thread. While itâs seasoned with the usual snark, you seem defensive to almost all of it. The invitation would be to try taking it in and see if there is anything helpful for you.
Youâre chasing a mistake, donât rush to make another one. Situations change, blame isnât going to be constructive at this point, but whatever you do next can cost you a little or a lot. Reacting will just make it more painful.
Free advice from an Internet stranger:
- You have a few specific requirements, and you are conflating wants that over-complicate possible solutions. The hole doesnât need gold-plating, compromise and be willing to think outside the box
- You arenât going to solve the Volvo with another Volvo of any size or shape (says the guy driving an XC60). There isnât enough trunk money to bury the negative. Move on.
- Others suggested a third car, which honestly is a great one. A used Honda/Toyo minivan will hold itâs value and cost very little upkeep. Any transaction you do (eg upgrade Testa/XC40) incurs another round of taxes/registration that could go to a third vehicle.
- If you are set on two cars: the solution is most likely in the Tesla, and ends with a Highlander/Pilot/Forester or something exponentially more uncool
You should really get clear on whatâs non-negotiable and what you can live with for 3 years, so you can decide how many commas you are really up against.
Or like many people, you can sign the problem away - the fast track to bankruptcy.
Good luck 
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What they said.
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