I began my first lease yesterday on a beautiful s90 with much thanks to this forum.
I ended up getting the excess wear and tear, but have always been leery of warranties, but the way that it was explained to me, it seemed like a no-brainer, but I wonder if I was misled.
The F + I guy said that the coverage would cover excess wear over 1000, but most importantly would be refunded if I bought the car outright at the end (50/50 chance) or if I DID NOT utilize the coverage. I was wondering why Volvo would do this and he said it would still be profitable from Volvos perspective to fix the repairs themselves or something along those lines. Plus I guess they get to earn interest on the money. But I know the mark-up with warranties is usually huge (the 500% mark up on bestbuy warranties I sold 15 years ago as a high school student is nauseating).
I had gotten a very good deal otherwise and there is a reasonably likelihood that I will have more scratches/ wear and tear over the lease than allowed with two small children and a tight garage.
If what I told about getting it returned if I buy outright or getting at least a portion of this back if unused is false, do I have any recourse? Can I get Volvo/ the dealership to remove it. It’s not the end of the world if I got taken advantage of on my first lease since the experience was otherwise very good, but I will certainly file this away.
You don’t want to buy a Volvo, trust me. Unless you don’t care about resale value, of course.
Not sure about current coverage, but Volvo used to cover first $1K in wear/tear free of charge.
Yes, agree with above. I leased a S90 as well, will not buy at the end. Afraid of all the electronics going down + twin charged engine makes me nervous.
I recently leased a XC90 and went ahead and purchased the excess wear & use protection. It is typically $995, but I got it for less.
It covers excess wear and use up to a max of $3500 without any deductible for any single event damage valued at $1000 or less
I never buy extended warranties for anything…ever…but I went ahead with this one as a test to see if Volvo stands up to what they say. Also, I was told that the tires are priced at a replacement cost of $250 per tire if returned with less than 4/32" thread, so 4 tires would be $1000 and covered under this protection plan. I don’t see anything about tires in their exclusions, so hopefully this is true. I have 20" wheels/tires, I know tires are more than $250 each new, but apparently Volvo prices their replacement cost at $250.
There is a 60 day free cancellation period for the policy as well.
Anyone with experience using this policy would be appreciated if they can share their success or anger story.
Does excess wear and use cover tires as well? When I leased my S90 I think they offered me 2 separate packages, 1 for vehicle wear, door dings, cigarette burns in fabric, etc. and then another for tire and wheel. I declined both - might consider if it was going to be a vehicle where the kids would spill crap.
$1000 for $3500 in coverage seems a lot to me, specially when the first $1000 is already covered by volvo. I don’t see how kids would chop up the leather in a car. I have a 5 year old and the only thing she can do is highlight the car with cheetos, throw up last meal which she actually did 2 weeks after i had leased my MDX or leak a diaper All of these are easily fixable.
I think buying excess coverage due to having kids is not a good reason and I have seen F & I guys at various dealers ask the same question whether you have kids and then lead the conversation to pushing that package. heck one volvo dealer asked my friend if he had a dog, and then tried selling him a replacement key plan for 20 bucks a month on a 36 month lease !
Regardless I never take it and end up getting the car detailed a month before its due for return, and just put used tires from a local shop which advertise used tires for a lease return special.
I agree its certainly not worth it at 1000. Could be worth it at a discounted price if it will buy you a new set of runflats or you are susceptible to door dings and it would pay to fix those. Like you, I’ve never bought an extended warranty or maintenance package.
All of these are easily fixable.