I’m located in SoCal and interested in leasing either the Volvo V60 or XC60. I’m not sure if Volvos generally “lease well” and would appreciate some numbers and thoughts. This includes opinions on which model offers the better lease opportunities, what sale price I should be aiming for, etc.
I’ll need 12k / year. Either 24 or 36 month terms work. Both base models are fine and have all my “must haves” but im open to any particular trim or option that may offer a good bang for the buck. I would also love to hear from others here who have leased either of these vehicles in the past and what type of lease they managed to get.
I got a quote for a 30 month lease with 10k/year on an s60 (MSRP is $38,985). With a 2k down payment + 1k conquest incentive, for $320 (+taxes ) monthly.
Im trying to figure out the numbers using the calculator but it’s not really adding up (though the price doesn’t seem bad). Does anyone know what the residual and MF are? Also, any thoughts what type of sale price I should be aiming for?
Your target sale price should be ~$1,000 under invoice (or at least invoice) minus $6,900 (all incentives) .
S60 T5 DRIVE-E FWD PREMIER
Lease for $365 mo. 24 mos.
$1,740 cash due at signing. Additional $1,000 Conquest Bonus and up to $500 19" wheel credit
No security deposit required. Monthly payment of $365, based on $38,800 MSRP of 2016 S60 T5 Drive-E FWD Premier with Heated Seats and Metallic Paint, includes destination charge and application of $1,500 Volvo Allowance and $4,400 Lease Bonus.
Yesterday I got the following quote on a 2016 V60 T5 AWD Platinum with premium paint, BLIS package, Climate package, and sport seats for 36 months at 10,000 miles per year. I’m in Columbus, OH.
MSRP 47,725
Invoice 45,418
Manufacturer incentives -4,000
Sale Price 41,000
Gross cap cost 43,017 (inc. $795 acquisition fee and $1,222 OH sales tax)
M.F. 0.00001
Residual 54%
Monthly payment $479.74 with $823 due upfront (first month payment + $250 document fee + $60 license fee + $33 I can’t account for)
I’m wondering if there is more room to squeeze this deal down.
Also, the S60 T5 AWD Platinum’s numbers are M.F. 0.00013 and residual 50%.
Again on the s60 w/ premium pkg ($39k msrp): With zero out of pocket, I’m now getting $360/ month with a 36 month / 10k term.
The sales guy is buying secretive about actual numbers though I know theres quite a few incentives and I’m probably getting roughly 900 under msrp before incentives.
What do you guys think about the lease? While it seems to fit the 1% rule, I really do think I could get a much better deal if I get the sale price closer to truecar’s estimate.
You can do much better than Truecar, IMO. It’s a good starting point to get ballpark prices, though. They get referral fee from the dealers, so right off the bat you can save $300-$500 off Truecar pricing and probably more if you negotiate. Truecar was an awesome resource when they started. They showed all dealer’s invoice prices, incentives, hold-backs, etc. Then, as far as I remember, dealers forced them to remove all that info and now Truecar is just another referral service that works with dealers.
Lease and financing incentives are usually different. Truecar lists financing based prices and current Volvo lease incentives are higher. That probably explains the difference. Another reason to question their prices for leases.
I got a 2016 V60 with a 41k MSRP for a negotiated price around 34k at the end of March. $299 + tax a month with 995 drive off, 24 months 10k/year in CA.
Volvo’s lease differently across the country. Some regions are good and some are terrible. VFS’s MF is mostly low, but the residuals are not that impressive. Try to shoot for invoice minus incentives to reduce the capcost. You should try to stay close to the $300 monthly mark with down payment closer to $1000. Regardless of the trim, that would be a decent deal.
That’s a pretty good deal for any region in the country. You can ask the MF, Residual and the selling price they are using and play a little more on the selling price. But i doubt they will budge further.
Wow, that seems like a great deal. I’m figuring with zero down the monthly would go up to around 270 which is much better than I was able to find. Let me know if you do lease with them and what price/terms you finalize.
With $0 down it would go up to around $260. Don’t forget that tax is not included there and this lease is for 30/10K when yours is for 36/12K (1% and possibly lower residual for you due to 30 vs 36 month). But still a great deal, as yours also.
New to the forum, so thanks for all of the great tidbits that I’ve already picked up! Figured I’d revive this since the last post was in 2016.
I’m looking at a new 2018 S60 Dynamic, fully-loaded with BLIS, Nav, Heated Seats, AWD, keyless entry, and backup cam. The lease deal I was quoted is:
MSRP $40,595
$375/mo
Zero down
45% residual, $18,225 residual value (if I want to buy the car at the end of the lease)
36 months
10k miles per year
Is that a good deal? The purchase price they offered was $34.5k including incentives etc. I’m agnostic to leasing vs. purchasing, since I’d likely purchase the car at the end of the lease. So the lease deal results in total outlay of around $31,725 (plus tax 6.25% on the residual), which seems like a better way to go than the purchase of $34.5k plus tax plus financing costs.
If this is not a good lease deal, what should I be asking for next?
Do you have acces to a-plan pricing? Because of the lease incentives, even if you want to buy the s60 new, you are better off leasing it, then buying it immediately, because your purchase price will be lower. Of course the money factor is so low, the interest on the lease is almost 0.
Things to consider, an inscription will lease better than a dynamic because the incentive levels are higher. What is the selling price before incentives, that will tell you if deal is good. My challenge with the s60, was even with 15% off, on a stripped down model, and the a plan incentive, I wasn’t able to get it much below 300/month in a low tax state. For 375/month consider an s90 which will drive itself for you.
