Volvo C40: I know this isn't a good deal, but I need help decoding it :)

Ask the Hackrs
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1

C40: cute new Volvo EV hatchback
Based on my reading of Leasehackr, it seems like the math to calculate what’s a good discount pre-incentives would be

(line 3 + line 5 + line 15 + line 17 + line 18 + line 22) divided by line 1
but when I do that I get a 2% discount, which is either wrong math or a bad deal.

Am I doing the math right? Any levers for a better deal?

here’s the lease sheet:

1. M.S.R.P.: $ 60,540
2. L.E.V. Rt/Amt: 52.00% $31,480,50
3. Mileage Window: CASH PRICE: $ 57,540
4. Cap Reduction: $ 2026.46
5. Ttl Add To Cap (W): $ 1,080.00
6. We Owes (Accessories:
7. ServCont/Maint(W):
8. Trade Window.:
9. Rebate:
10. ADJ Cap Cost: 55,843.54
11. Total Cap Reduction: 2776.46
12. Money Factor: 0.00274
13. Term: 36
14. Security Deposit:
15. License Fee: $ 668.00
16. Doc Tax: 9.5000%
17. CapTax1 Rt/Amt: 9.5000% $263.76
18. Ttl UpFrt Fees (W): $ 38.75
19. Acq Fee Tax: 9.5000%
20. Mnthly Use Tax 9.5000% $ 87.02
21. First Payment Date: 02/15/2
22. DRIVE OFF: $ 4750
23. Customer Cash Down: $ 4000.00
24. Total Working Cash: $ 4750.00

Base Monthly Rental: $ 916.01
Ttl Mnthly Payment: $ 1003.03* incl tax

2

$1150/mo and we are even having a conversation about this?

11 Likes
3

I…can’t even. :cold_sweat:

4

Can you help? This is my first time leasing a car and I’m just beginning the process, I know there’s a learning curve here :slight_smile: .

Also where did the the $1150 come in–factoring in car insurance?

5

You don’t need help if you are even thinking about spending over $1k/month on this car.

1 Like
6

You could get an MY for less than this I believe.

7

Thanks all, if you can point me to lines where I can push back with the dealer and others I would be grateful. I really like the car but at this price it’s not in the ballpark. Maybe given the extremely high money factor buying with financing makes more sense…

8

That and the $7500 ev tax credit that Volvo isn’t passing on on a lease.

There are no levers to make this lease well. If you want a c40, leasing isn’t an option.

3 Likes
9

You can probably get an MX for less than this (well, maybe not quite, but you’re in the ballpark)

10

IDK about that, maybe a private sale one coming off lease with an uninformed seller.

11

Yeah this is nearly 7% interest. I haven’t looked at the programs on this but likely has at least 2pts marked up.

12

After looking… the mx is way more expensive than I thought

13

There was a brief period of time where they were practically being given away in the second hand market.

1 Like
14

Incredibly helpful, thank you! Which line would the EV Tax credit live on? I asked and the dealer said the ‘Cap Reduction’ line 4 has some of it.

15

It doesn’t. Volvo isn’t passing it on. The dealer is probably talking about the $750 CA rebate.

16

.00183 looks to be buyrate

17

Super helpful on the buyrate thank you.
C40s just came out this year, when were they being given out on the secondary market?

18

That was in reference to the model x

1 Like
19

If you absolutely need to have this car, consider buying it so at least you could claim the EV credit. This seems like a disastrous lease for reasons others have noted.

1 Like
20

Gotcha, so what’s in the $2026.46 cap reduction? I thought that was some discount.