I scored a killer deal on this vehicle with the help of this forum. I’ve been paying $464 per month leasing a nearly fully speced out 2020 T5 Inscription XC40. I’ve started to get emails saying that Volvo will buy out the last 5 months if I trade in early (I’m sure this gets netted out in what sale price they’re willing to offer, though). I like the car a lot. One of the most appealing things about leasing was having a car outside of the time it’ll need maintenance and then get a new one, I’m not remotely car savvy. One big negative is that the new XC40s seem to have gotten rid of the self-parking, which makes me wonder if I’d get a new XC40 or look at BMW X2/X1s.
The payoff amount is $30k right now, which seems at or under market value. This is my first ever car lease, so I don’t know what the best way forward is, but also, if I want to buy it out, are there similar tricks the way there were in the lease origination process?
How many miles? Assuming under 30k, your buyout seems like a great deal for you. Try to buy a comparable on the open market for $30k. So, if you like it that much, I say buy it. And you can get an extended factory warranty. Some dealers sell them online, so look around for the best price.
i saw it in the manual PDFs, but those are all from non-US countries, and i’ve seen reports that it was removed in the 2022 and 2023 because it’s now Android-based and the PAP was only in the Sensus for some reason.
a bit less than 15k. i plugged it into carmax/carvana and they offered 34k. i’m not looking to buy and flip or anything like that (tax + annoying factor will make that profit about $0). it’s 1) buyout and keep and the maintenance costs or new features in this sized vehicle (ventilated seats WHEN) eventually will make me want to sell, 2) new XC40, or 3) return it and get an X1 or something that for sure has the parking assist and also is my other fave from the category (that heads up display is amazing).
It seems the big negative is the Parking Assist. I have it on my XC60, and while I used it all the time in the first 6 months, I don’t use it now at all. It’s too slow and I just would rather practice parallel parking myself.
How often do you actually use it? You have an XC40, a relatively small compact, so you should have no issues with parallel parking.
buying out a volvo is probably the worst thing you could ever do. a volvo is a car to lease during the first 2-3 years of its useful life and then you give it back.
it’s gotten me into enough tight spots in DC, particularly in places like Georgetown where the streets are narrower and everything is crammed together more, that i’d miss it a lot.
Yet the OP can buy out his for 20% below market. Will that trend continue? Who knows? But, let’s put it this way, you can lease something else and spend $15k-$20k over 3 years, only to return it, vs buying this XC40 and, in 3 years, (I’ll go out on a limb and say) it will have cost far less than $15k-$20k in depreciation.
As for reliability, that’s what an extended warranty is for.
DC dealers are hungry for deals. You may as well try. Falls Church, Dulles, Bethesda, Lindsay all hungry to make deals. Shopping for a friend and some of the discounts are quite impressive.
