SIGNED: 2025 Volvo XC90 T8 Plus - 4 Day Journey to a Leasing "Expert"

Signed Deals & Tips
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TLDR; In 4 days, went from having never leased a car (and thought it would never make sense for me to lease) to a ~$450/month lease on a 2025 XC90 plug-in hybrid with no money down other than the security deposit

(Deal at the bottom of the post)

Signed last week. I’ve never leased before and thought I never would because we typically keep our cars for 10+ years. We were considering some other SUVs but I hopped on leasehackr before moving forward. I saw the deals/incentives on the XC90 Hybrid and decided it was worth some research.

My timeline:

Day 0: I have zero understanding of how a vehicle lease works; 100% planned to purchase/finance a new car

Day 1: struggle to spell “leasehackr” correctly; saw the great deals on XC90 hybrids, searched through a bunch of brokers’ “deal sheets” but eventually found this forum and realized it likely made more sense for me to do this without a broker

Day 2a: Built my own lease calculator in excel so I couldn’t be fooled by any dealer that I spoke with and so I could track deals based on my conversations (I built a summary table so I could compare deals)

Day 2b: Started reaching out to dealers that I thought were least likely to negotiate so I could get some practice and get some questions answered; ended up calling about 10 dealers explaining I was aiming for 11-12% (actual goal was >8%); I got some laughs, some “lose my number”, some were receptive and followed up with decent deals, ended with a 5-6% off MSRP deal in-hand

Day 3a: Realized that there were better Volvo incentives in a different state so I called about 7 or 8 dealers explaining I was looking for 10% off MSRP; narrowed down to 3-4 dealers and started letting them compete

Day 3b: Came to an agreement on a deal that I felt was fair (~7.5% off MSRP) with “Dealership A” and made arrangements to pickup next day; received 25th hour call from “Dealership B” (after Dealership A had closed) that I thought had ‘dropped out’ asking about the best deal I had received and they agreed to beat it by about $1K more off MSRP; we agreed to the deal

Day 4a: Called “Dealership A” to inform them of our decision, “Dealership A” tried to negotiate to about $10 less per month but at this point we were exhausted and stuck with Dealership B (other context being that "B"s car was $800 more expensive so “B” was still a better deal)

Day 4b: Picked up new car!

Details:
2025 Volvo XC90 Plug-in Hybrid

MSRP: $75,965
Purchase Price: $69,800
Rebates: $15,728 (EV-$7500, Costco-$2000, ABA-$2000, Cash Allowance-$3750, Sign/Drive 1st Month Payment-$478.08)
Fees: $1,317 (includes tags/title)
Acquisition Fee: $995

Residual Value: $53,175.50
Money Factor: .00259 (.00309-.0005 MSDs)

Monthly Lease Less Tax: $417.44
Monthly Tax: $37.57

Total Monthly Payment: $455.01

(I think these numbers are slightly incorrect +/-$3 due to Volvo paying the 1st month but they should be pretty close)

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Congratulations on your new car

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Well done. Congratulations! Post pics in the Trophy Garage

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thank you!

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Congrats! But why did you tag “EV”? lol

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$7500 EV cash is worth the tag :dollar:

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Exactly! Even the 40 milers still count!

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Thanks! So which state has better rebates?

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This is fantastic and a hell of a lot better than what most new members do:

Day 0- I have zero understanding of how a vehicle lease works; 100% planned to purchase/finance a new car

Day 1- Ask for dealer info

Day 2- Ask for dealer info

Day 3- Ask for dealer info

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day 4: post “can u tell me dealer” in 100 signed threads

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thanks, i’m happy how things turned out. couldn’t have done it without leasehackr. happy to share more details if others are interested

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Thanks for sharing and well done!

How do you know which incentives stack?
All dealers have the $7500 incentive on their website, some have ~$2500 to $3750 lease incentives on the website as well. These stack as far I understand.
And then, there are some with an additional “cash incentive” on the website (neither has conditions such as loyalty or Costco/ABA).
As an example, I saw $7500 lease incentive, $2500 lease incentive, and $4000 cash incentive.

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send me a DM with your email. I need to clean it up a little and remove my specific information.

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To be honest, I don’t have all of the answers but for my situation, here’s the breakdown:

EV Credit: $7500 - This is not specific to Volvo, this used to be a write-off for purchasing an EV but the Fed revised guidelines in 2024 to allow buyers to allocate the credit to a dealer who will receive the credit and can reduce the price at the time of sale
Volvo Cash Allowance: $3750 - This is geography specific. In my case, my state had a $2500 cash allowance incentive from Volvo but I saw that another state was $3750 so I bought in that state. This is not dependent on any other discounts and can change month to month. I think I saw that the state that I bought my car in now has a cash allowance of $3,000
Costco: $2000 - Definitely verify the requirements for this, for example, if you are the Costco member but the car is going in your partner’s name, you’ll need to be named on the car in order to receive the discount. This discount does stack with others
ABA/AMA/ADA: $2000 - This one stacks with Costco so I didn’t have any issues. Take a look at what others have posted regarding this discount to ensure you’ll qualify. From what I read, people figured out you could be come an ABA member for $200 which then got you $2K discount. Volvo then added restrictions to something like “needs to have been a member for more than 90 days” or something like that. My advice would be to really push your dealer on this one to make sure they confirm you’ll qualify. It’s in their best interests to ensure that if you believe you qualify for this (and any) discount that you do in fact qualify for it (i.e., they don’t want you coming in expecting to pay $500 per month and then find out that you don’t qualify and now you’re paying closer to $600 monthly).

Regarding all of the other discounts, I’m fairly certain that some of the other discounts can stack on top of the ones that I used because I saw some others mention larger discounts. My strong advice would be to really push a dealer to verify what can or cannot stack. Make sure they sound confident because these incentives change monthly and are different across cars so they can be hard to track. One example I dealt with was I had a dealer that swore up and down that not a single Volvo had a 70% residual rate for the 2 year lease. I had spoken to a dozen or so dealers at this point and I was 99% certain he was wrong. It turned out that on whatever reference sheet he had it said 67% and then there was some additional 3% that Volvo had added.

Hope this is helpful.

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Congrats on the deal.

Just one point of contention.

Looks to me like they beat it by ~$468, not $1k.

MSRP: $75,965
75965 x .925 =70,267.625

Purchase Price: $69,800

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Welcome back. Been discussed if you search

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What more info do you need that’s not in the first post? OP even posted his contract in signed. I assume you are referring to the dealer info…use the data and info to make offers as they apply to you, OP even wrote out the process he went through going from knowing nothing about leasing to signing the deal.

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I called many dealers, no one is getting close

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What discount off MSRP are you being offered? What rebates do you qualify for? What mileage terms and what is your tax rate? If you live in a state like California or Connecticut, where incentives are taxed, it makes a big difference.

EDIT: With nearly everyone on this site looking to hack a deal on this car, it has created an inflated demand. Hence, some dealers don’t feel the need to blow them out this month compared to a month ago.

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Tell me about it, seems impossible to get anyone to play ball.