DOWNPAYMENT $1,500.00
MONTHLY $445.00
DUE AT SIGN $1,945.00
MSDs $4,500.00
EFFECTIVE $529
SCORE 11.1
South Florida
I had traded in my S60 for a 2023 S60 end of June. The deal was not extraordinary but I just loved the S60 and I just couldn’t like the XC90 enough. Then the 2024 XC90 deals came up. I negotiated one for my girlfriend ( SIGNED: 2024 Volvo XC90 B5 Plus | MSRP $62,695 | 24/7.5K | $485/mo tax inc | DAS $485 + $5,000 MSDs ) and started to like the XC90 a lot, especially for such a deal. Then I got inspired by this post ( SIGNED - 2024 XC90 B6 Ultimate | MSRP $70,595 | $363 per month | $1865 DAS + $4000 MSD | 24/7.5k ) and how dealerships would buy the current lease before it would even qualify for pull ahead. I wondered if they would buy my brand-new S60. A couple of months ahead of the pull-ahead eligibility is one thing, but less than a month out of the dealership?
I called my contact and asked if they could take my car with just 27 days into the lease, and they said yes. I tried to replicate the same deal but the only B5 left didn’t have HK so I went for the B6.
My contact complained was losing too much with the early buyout and the discounts so I decided to sink $1,500 for downpayment to help them close.
Worth noting that I loved the S60 and wasn’t sure about returning it. I also don’t “need” a large SUV. But hey, a deal is a deal, and the Vapour Gray (Primer Paint Grey as I like to call it) is kinda cool. Picked it up on Saturday.
Mind sending me the dealer you used? I know Costco is over - but am in the market for a luxury SUV - actually looked at the XC60 but the leases were atrocious. Didn’t even think to look at the XC90’s since the MSRP’s were so high. Thanks
It’s a great question and I don’t know the real answer. Perhaps other experienced hackers can provide insights. From what I know, penalties in terms of fees, it seems there are none. But I understand the negative equity part. I actually asked another dealership if they could buy the current lease and easily refused alleging too much negative equity. I asked the question here in the forum (after I had done the deal, just to learn) about estimating the real equity in my lease and they said, well, I should stop wasting people’s time.
As I was signing, the manager was showing me how much they were losing on this deal between my buyout and the deal itself, so I had to ask “then why are you doing this?”. The convoluted answer was mainly 1.- it’s always good to sell new cars, and 2.- I was buying two cars (returning for the second just a couple days after the first). They also ran out of their B5 and B6 Plus over the weekend, so I don’t think they were having issues selling.
I’m not sure what to believe. Definitely very thankful that they went above and beyond.
