That’s what you get for a almost 50k vehicle with a residual under 50% with no incentives 
are you in OC?
The deal was done in Central NJ, our EVs are sales tax free
I went to talk to the local Volvo dealer today and they gave me a quote for a new XC40 Recharge; 36/7500Miles lease for $771 a month with 3k down (not including tax).
This includes 8k in incentives (7.5k for the federal rebate and $500 for loyalty).
61,985k MSRP.
the included fees are:
$499 protective package/Nitro (not sure if they will be willing to remove it)
$799 dealer admin fee
$56 title
$54 license
$995 acquisition fee
$900ish/mo for an XC40 is insanity
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better than the Ioniq 5 that is even more expensive and has an MSRP of 49k. 
I don’t know that I’d consider the xc40 recharge worth a $12k higher msrp, but it’s really a moot point. None of these are good lease contenders.
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100% agree. This is not a good time to buy or lease a car.
On some cars, leasing just isn’t the right choice, even during good times.
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What is your payoff on it?
I found a dealer that has an XC40 Recharge 2021 demo car with 4,400 miles that offered me the following:
$3k down + 10 x MSD ($6,000) + 1st payment = $574.32 per month
This is for 36 months / 7.5k miles.
The deal includes the following discount:
- $7.5k for the federal rebate,
- $500 for loyalty
- $2k because it’s a demo.
He is also willing to pay to ship the car to me ($500 value)
Original Money Factor = 0.00113
MF after 10 MSD = 0.00063
Residual = 53% = $31,453.85
This is the best I found so far. other dealers I talk to wanted a $730-$785 per month for a new 2022 model with 3k down and the same 8k incentives.
here is the full lease info:
What do you think?
i run the numbers on the calculator: CALCULATOR | LEASEHACKR
but it’s not exactly the same. can someone double check me?
Ok so what? Why would anyone pay that much for a XC40 Re demo
Because inventory is none exist for EV right now. Buying a new XC40 Recharge costs even more money, and there is not much else on the market you can currently purchase and get in a week or two.
I looked at tesla, Mach-E, ID4; all are 6-8 month wait times.
The only other option is Polstar 2, but it’s not an SUV, and Ioniq 5 that lease terribly.
Not sure how much you drive daily but 7.5k/year is not a lot.
How is the internal size of an XC40? I finally got to sit in an ID4 and another Mach-E and I think the ID4 has the slight edge. The ID4 seems more like an upright seat (like the I5) whereas the Model Y and Mach-E are more like laid back seating.
Surprised by how much room is in the backseat of both but the ID4 seems to have more shoulder room.
The lease for the XC40 seems good comparatively except for the mileage but that may not matter if you sell it before lease end. And you are right, it’s very hard to find anything that is EV or PHEV.
Everyone is under miles on their lease, especially after the twelve months between March 2020-March 2021.
My guess is there will be some ugly lease overages in a couple years…expect plenty of posts!
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The XC40 is smaller than the Model Y, ID4, and Mach-E, but that is what makes it a great car for daily driving around town. it’s also more upright and give you more of a commanding seating position vs most EV SUV that lower the roof line to make them more aero dynamic.
I think that if I was looking for a bigger EV i would go for the Ioniq 5. it’s very roomy inside and can easily seat 5 adults. It also rides really nice.
The interior is a classy Volvo Scandinavian design that I personally like and is a very high quality, much better finish and materials than the 3 other EV’s listed above in my humble opinion.
My current EV only has 12k and it’s over 2.5 years old, so getting 7,500 miles per year on the new lease is more than enough.
There’s always the Niro EV, even getting the EX-P which is so much more would still be at least $100 cheaper than this XC40. Niro also has a longer range than the XC40. I loved the drive of the XC40 but for the value ehh, especially when you’ll be getting sub 200 mile range in cold weather conditions.
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