Loaner Volvo XC60 Momentum T5 AWD MSRP $50510. $459/month 36/10k. Good?

Ask the Hackrs
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1

Hi guys,

I need a feedback on this lease offer.
Loaner Volvo XC60 Momentum T5 AWD 36/10k w climate and premium package

MSRP $50510
Monthly Payment $459 tax included(NJ)
MSDs $5K
Drive-off amount: First payment + 5k MSDs

Costco credit $1250

Thanks in advance

2

It is practically impossible for us to tell you what a “good” monthly payment is for your specific lease as lease programs are highly dependent on region, personal qualifications, tax rates, etc.

We always recommend the following method before you ever contact a dealership. If you do all of the work up front, you’ll have a stress free dealer experience and set yourself for success.

  1. Read Leasing 101 (Blog | LEASEHACKR) to understand how to calculate a lease payment and the variables. Monthly payment is an output, not an input!!
  2. Pick a specific vehicle that you want to target
  3. Gather the current MF, RV and incentives from Edmunds forums for your zip code
  4. Research the LH marketplace and other deals that have been made recently on your vehicle - what was their pre-incentive discount? How did their lease terms differ?
  5. Plug your numbers into the LH calculator (CALCULATOR | LEASEHACKR), and use a pre-incentive discount similar to what you have seen
  6. Create a target deal, this is what you’re trying to negotiate to. You can try different terms, selling price discount, etc. and see how your monthly payment is affected. It is also possible that different trims of your vehicle may have different MF and RV (i.e. this is very common with GM), so make sure that you look into that. Come up with a set of inputs that give you the output that you want - your desired monthly payment.

With a target price determined, you now have a deal to pursue and compare dealer offers against. More importantly, you have a solid foundation to work from.

3

For a loaner you can go down 10-15 dollars more

4

What are you basing that statement on?

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5

Based on my current lease. I’m paying 460 on a mart closer to 53,000. Cars from NJ as well

6

I see loaner vehicles in the new car inventory and used car inventory.

In the used car inventory, it’s certified by volvo, carfax says 1 owner(corporate fleet).

while in the new car inventory, it doesn’t have all these.

Is there difference between loaner vehicle in the new car inventory vs used car inventory when leasing?

7

Keep it in one thread.

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8

Used cars don’t get all the incentives that a new car gets for leasing.

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9

I’m not sure if my question makes sense but my question is, can loaner vehicle consider a new car? or is it always a used car?

10

It’s basically a new car but in reality it is a used car. I do think that loaner cars are never registered and you would be the first person to register it

11

In this market, I’d say this is a fairly solid deal…

Depends on the state from what I can tell. TX and AZ dealers seem to slap dealer plates on the loaner (probably not registered) but VA, CT, NJ dealerships seem to register their cars and have proper tags and registration for the car. NJ based Volvo loaner my parents leased was registered previously. VA dealers seem to be required to register their loaners as “rental” whereas other states, I’ve seemed them mainly registered as “Commercial”

12

Was your lease from this month? Did you qualify for the same incentives? Did yours have the actual miles on it? What was your pre-incentive discount?

There is insufficient information in the original post to determine what this should be leasing for.

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13

Based on my current lease, I’m paying $436/mo (with $4k in taxes and fees capped) for a $62K XC90. Does it mean anything today?

14

In a non lease hacker way, this is a decent deal. Definitely not terrible.

Take it if you like the car and don’t want any hassle associated with negotiation and checking with multiple dealers or brokers.

But if you want optimum number, follow advice from experts in the forum.

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15

Can you substantiate that? What pre-incentive discount is being given in this deal?

I suppose if you define “non lease hacker way” as not actually evaluating the deal, you may be right.

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16

Exactly. There is a systematic, lease hacker way (technically correct).

Then there is a hand wavy way. $200/mo civic, 1% rule, etc.

The quote op receives certainly won’t make it to ‘worse deals I’ve seen’ thread. And it’s prob good enough (even seem excellent) to those who have never seen unicorn lease deals.

17

Ah yes, the pull random numbers out of thin air because you don’t want to actually get the answer approach.

18

Apply to most people I know and many on this thread (I meant forum). Not being sarcastic. You and I may want the best LH deal, but many just want ‘something’ good with the least amount of work/learning. If the deal is trash, we will let them know to run away from that dealer.

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19

I agree that if someone doesn’t want to do any work and doesn’t care if a deal is any good, that the lowest resistance path is to take the deal in front of them.

I don’t know why anyone would want to encourage that level of ineptitude in a community where people come to learn how to be at least somewhat informed consumers though.

20

I see good advice from you already. I’m sure op saw it. No need to reiterate.

I rechecked the numbers just now. Is there a trade in or down payment? Doesn’t look terrible.