Newbie - Deal Help - Volvo XC90 T5 Momentum

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1

Hello,

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.

Offer:
MSRP: $55,375
Selling Price: $50,684
Gov’t Fee: $135
Doc Fee: $539
Total Due at Signing: $3,000
Residual Value: $32,118
Payment: $696.65

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!!

2

Check out @Bostoncarconcierge offers, if you don’t mind paying broker’s fee.
$2K Volvo cash may be included in the selling price, so you need to separate it and find out if it is. If it is included then you need another 5% off. Your deal probably looks like this

1 Like
3

You’re putting the cart before the horse here. It’s in your best interest to work out what a good deal is, how leases work, etc before reaching out to a dealer.

Talking to dealers is for finding someone to do your deal, not for finding out what a car should lease for.

4

Thanks for the feedback and very helpful. I think I’m realizing this all post-reaching out to dealerships. Should have done some more research up front!

5

Thanks for the feedback! I’ll check out Boston Car Concierge.

6

No reason you can’t take a step back now and do your research before moving forward