Signed - 2020 XC60 T5 Mom (Loaner) 36/10 - $343/mth, $2789 DAS + $2100 MSDs. Let me know what you think about the deal

Year, Make, Model, and Trim: 2020 Volvo XC60 T5 Momentum, Premium Package, 20" Momentum Wheels
MSRP: $47240
Monthly Payment: $343
Drive-Off Amount: $5846 (1st month payment, tax, title, doc fee, acquisition fee, $2100 Security Deposits, $957.50 equity from trade in)
Months: 36
Annual Mileage: 10
MF: .00067
Residual: $26132
Incentives: $3000 Lease Cash, $1250 Costco, $500 Conquest
Region: AZ
Score: 10.1 ???
Leasehackr Calculator Link:

I would say I knew more than your average person about leasing before finding this website but finding it definitely gave me knowledge that helped tremendously with this deal. I’ve leased before so the terminology, etc, wasn’t new to me but how to find pieces of info and some tips and tricks were new to me.

I only found this site last week, happened to be in the market for a new car, and saw that the Costco deal was expiring at the end of June so I knew I needed to act relatively quickly.

Wasn’t in the market for a Volvo but seeing the deals here put it squarely in my sights. Was looking for a compact or mid-size SUV to replace a vehicle coming off of lease (had made the last payment and had about 10 days before I had to turn it in).

Looked at the local Volvo dealers in Phoenix and as luck would have it, found this loaner and felt that the numbers would work and really liked the idea of a Volvo. Wife’s car and she approved the color, etc.

Reached out to the dealer via email to confirm MF, residual, etc, to show I was informed and serious about purchasing. Received response confirming my numbers. Coincidentally I was driving by the dealer later that day so decided to stop in. I realize that might not have been the best idea as we hadn’t talked about selling price yet but was willing to give it a shot.

Didn’t go that well as I was a little short on time and they wanted to start with a price that already included $3k they had taken off due to it being a loaner. That was the price advertised on their website so I knew I could do better but no matter how I explained things and why I didn’t want to include that $3k to start with, we were really going round in circles. Overall though they were close to what I felt was the right price after all incentives, etc, but wanted to make sure I wasn’t missing anything.

Emailed later that night to explain and apologize for rushing off. Got a response back that they were willing to do $37,440 after all discounts, rebates, etc., with $550 drive off and $511/month. I knew that was close to 10% off of MSRP before rebates and having looked at Edmunds and done as much research I could do in the time I had, I felt it was a decent price. So I replied asking what the $550 was (I knew I wouldn’t end up at $511/month). Couple emails back and forth and couldn’t get a clear answer on the $550 so thought deal was dead as I wasn’t going to move forward at this point.

However, something happened that was really outside of the deal that I felt the GM should know about so I emailed him to let him know. Next day I get a call from one of the sales managers as the GM had asked him to reach out to me. It was the same manager that I talked to when I had stopped by so I didn’t think the call would go anywhere. In the end, call was pleasant enough and he said he would still like to do the deal. I told him to send me the numbers and that I wasn’t paying for dealer addons such as Lifetime Blinker Fluid, etc.

He sent me numbers that were much more in line with what I was looking for so I replied that if he took another $500 off I would do the deal. He agreed so we went in the next day.

Everything else went pretty smoothly except once were in Finance, I did have to remind them that they needed to take off the fluff fees except for $169 window tint which I had already agreed to pay. Payment still came out about $30 dollars higher than I thought it would but I couldn’t unequivocally say that I had put 100% of the numbers in the right place on the calculator, etc, and I was fine with the payment. Then I also said I want to put down some MSD’s. The Finance guy had no idea about them and had to get help to add them into the deal.

I thought I had done just about everything right but wouldn’t you know it, once I got home and looked at the paperwork, there was almost a $1k charge for some fluff stuff. To their credit, when I called the them they said no problem and would take it off and I just needed to come in and resign. I was fine with that. It also meant that I only needed to pay another $100 to change from the original 5 MSD’s to a 6th MSD so I did that with the money.

In retrospect, and after posting a question here about taxes on cap cost reductions inbetween my first and second signing, I shouldn’t have paid the acquisition fee up front. I should have used that money for additional MSD’s.

So in the end I did pay 1st payment, whatever taxes were due up front, title, registration, dealer doc fee, and acquisition fee up front along with $2100 in MSD’s. I also got almost $1000 back for trading in the vehicle where our lease was up. That saved me an additional $400 because I also didn’t need to pay the disposition fee on that. I certainly could have gotten a little more if I had sold privately but I didn’t have the time or energy to mess with that.

I used the equity to reduce my out of pocket for the upfront fees. I was trying to get the payment as low as possible and I realize the risk with paying some money up front but if I understand this correctly, it’s really the $995 acquisition fee that I’m risking which is why I should have used that money for more MSD’s.

I’m just not sure that I’ve put every dollar in the right place in the calculator. Also, I thought the MSD’s were rounded up to the nearest $50, so $350*6=$2100 but the calculator is showing MSD total as $2250, so indicating that each one is $375. I did get the .00067 MF that 6 MSD’s should get me so not sure what’s going on there.

Bottom line is I love the car and am very happy with the deal and am curious what others think of it and/or what else I might have missed.

Oh, and the sales manager did mention as we were leaving that he put it in as a CPO so we’d have 5 years unlimited mileage warranty if we decided to buy at the end of the lease. I just don’t see anything in the paperwork that mentions CPO so not sure how to check if this is really what the manager did.

Pretty good deal. Not sure how many miles were on the car, but you could have gotten more dealer discount past the 10.2% pre-incentive being that it was a loaner.

Never heard of this, as the car would need to have been previously owned/titled and would not have qualified as a leasing as CPO. If this is true, there should be some way to check within the warranty department of a dealer. Did you get this in writing?

There were 3900 miles on it. And no I didn’t get it in writing but I wasn’t counting on getting it as it never crossed my mind. And the manager said it as we were leaving so the deal was already done and really no reason for him to say it unless he truly intended on doing it. If I find anything out about it, I’ll post back.

Great about the CPO. There was probably another $1,500 in the discount (at most).

I did feel there could have been a little more upfront discount but at the end of the day, if I didn’t do this deal, I felt I would have to spend significant more for a similar vehicle or I would have got much less vehicle for the same money. My primary goal was the monthly payment amount being in a certain range and then getting the best vehicle that met my needs at that payment. And the vehicle not being a stripped down, no features, etc, vehicle.

For as entry level as this Volvo is, it still comes very well equipped so I’m happy with the deal and anything I learn from this deal in terms of how or where I could have improved will be used the next time around. Thanks.

Was this courtesy?

Yes it was.

1 Like