I’m super naïve on leasing a car (or buying for that matter) and hoping someone may be able to help. I haven’t owned a car in many years after living in a city but I’ve done the suburban sprawl and need to get a car.
I’m considering leasing an XC90 and I’ve tried to read up on leasehackr and edmunds but I’m still having a bit of trouble interpreting a couple of the lease offers I’ve received back from dealerships.
I’m interested in leasing a 2021 Volvo XC90 T5 Momentum in zip code 02145. From Edmunds forum, I got the info of: .00145 MF, 58% residual, $2000 lease bonus. However, I’m not fully sure how to utilize that info. Here is the “best” offer I received.
Selling Price: $50,684
Gov’t Fee: $135
Doc Fee: $539
Total Due at Signing: $3,000
Residual Value: $32,118
I’ve tried to run this through the calculation but I come out with a payment of $582. Would someone be willing to help me understand what the difference is and where am I going wrong? Perhaps the dealership is just hosing me. Any help is much appreciated!!