Looking for a deal check. I’m new to leasing so I’ve done some research but still feel out of my depth. I’d buy outright with cash or finance (if I could find a reasonable rate) but want to take advantage of the $7,500 federal rebate, which I don’t qualify for if I buy. I also have Costco $1,000 incentive but don’t qualify for loyalty or affinity incentives (and I don’t think there’s a current conquest incentive).
2024 Volvo XC60 T8 Recharge Plus with climate, 20" wheels, and stereo packages. Location is MN, with 4.3% tax and relatively high gov’t fees. My credit is very good (800+).
$ 10,700 Total due at signing $ 740/mo. lease payment
36/10,000 lease term/miles
Seems high for that much due at signing. I also see that @Benedetto and @thevolvoguy seem to routinely post better deals than this.
I don’t know the MF, as the dealer has not shown me more than these numbers (likely a red flag, after I’ve asked). I tried using the LH calculator but without knowing the MF, I’m just plugging in guesses to get to the right monthly payment and cash at signing. Dealer says the deal is good through Jan. 2 but after that would need to be renegotiated. Seems like losing the Costco incentive after EOY isn’t that big of a deal if I’m otherwise getting screwed on cash at signing or a bad MSRP discount.
Absolutely terrible deal. I probably wouldn’t even counter with this dealer and would move on. Since you’re new to leasing, you might want to spend the money on using a broker, as they will save you lots of money in the end.
Upon further checking, I was wrong. While the XC90 has a much better RV for 24 month leases the XC60 isn’t that much better over 24 months.
The 24 month lease might still be better cause you are dividing substantial rebates by 24 rather than 36 but it’s a close call. Either way, benedetto will steer you right and get you in the right car at the right price.
Thank you all. Your comments have been super helpful. This is a great community. I hadn’t committed to the dealer, so it wa easy enough to tell them we’re not taking the deal.
I have seen that there seem to be better deals on the XC90 but it’s larger than my wife wants. So this isn’t so much about finding the best deal on anything as it is just trying to get a fair deal on what we want.
Thank you all again. Appreciate any additional thoughts others may have. Apart from potential EOY incentives and dealer deal making, I’m not in a hurry. We don’t technically need the new car for a few months. But I don’t know how much EOY nets better deals versus end of Q1. I assume someone somewhere needs to make sals numbers. But I’ll likely just use a broker to make my life easier.
I had a great, quick conversation with Ben (won’t tag him again so I don’t clog up his inbox). Solid, straight shooting guy. We probably can’t find a deal on what I’m looking for right now. Wish I’d reached out sooner in the month/quarter. But I’ll definitely look forward to working with him in the future. Thank you all again for the great community and education.
