Volvo XC90 Lease, California, Inscription

Ask the Hackrs
1

My family isn’t awesome at this kind of thing. Here’s what our lease is, we have 3 days to return if the deal sucks. I’m not looking for the best deal in the world, just a fair deal on both sides. I like the people at the dealership.

We haven’t leased before, and historically have kept cars for a long time. I like the idea of leasing though and will hopefully turn this one in at 3 years.

Summary

  • 2018 XC 90
  • Inscription
  • 36 months
  • 10K miles

MSRP: 68535

Lease terms

  • Monthly payments: $1022
  • Depreciation & Amortization: 26755
  • Rent Charge: 6942
  • Residual: 36323
  • Amount due at signing: 1660
  • Total of all payments: 37802

Gross capitalized cost: 63079

  • Agreed upon value of vehicle: 61189
  • Wear & Tear waiver: $895 (we have kids, live in an urban area where cars get dinged, seemed to make sense)
  • Acquisition fee: $995

What do you think? I appreciate your time & help!

2

1022 your into Range Rover territory. Return and higher a broker if you aren’t good at this stuff.

3

Can you be more specific on the pricing?

Happy to hire a broker — suggestions?

4

The max many folks around here try to abide by is not exceeding 1% of the vehicle’s MSRP on your monthly lease payment AND ideally putting nothing down (or as little as possible). That said, it’s not always possible on all vehicles given how the manufacturer structures their leases, but from the looks of it this is a terrible deal. You should definitely return it if you can.

1 Like
5

Thanks for this feedback. In the Bay Area I expect pricing isn’t great, so I understand paying a little more. But this seems like a lot more.

If anyone can consult for a fee please let me know. Prefer if you know the California market.

6

I’m not super up to date on incentives on the xc90, you can check on autobytel.com. Also look at the Edmunds lease forum for the xc90 for residuals and base money factor. Do a search on multiple security deposits or msd and see how those can save you money as well.

If your looking for someone to do the leg work I️ reccomend hiring @Benedetto or @nyclife (he only does SoCal i think)

7

So you already got the car, and they allow you to return it within 3 days? Hmm sounds too good to be true, CA has no cooling off period

8

I think some dealers offer that, but I’m sure there must a lot of fine print. And probably if you don’t like the car, not the contract.

9

Nope, they’ll take it back for any reason. 3 days. Great dealership, like I said.

10

Thanks Rizza – the problem is I don’t really understand how residuals and MF work. But I’ll try contacting your suggestions to see if they can help me. Happy to pay someone for assistance

11

Don’t wait 3 days take it back tomorrow.

The best course of action if you don’t understand everything is to pay a broker like @Benedetto or @nyclife
They both seem to have the Volvo game on :lock:

12

Thanks for the Edmunds tips. I’m asking for guidance over there, if you want to follow along. It looks like the deal might be a fair one, although I’m not sure I’m interpreting everything correctly just yet.

13

Not to knock the edmunds guys (without them getting RVs and MFs would be a pain) but they say deals are fair that would get murdered over on this forum.

3 Likes
14

Agree. They are great source of MF/RV, but nothing else. They don’t track prices, as they say so themselves.

15

Thanks! So does anyone know what this price would be elsewhere in CA?

16

They must have marked up the MF or something.

Did a 68k Xc90 (Mom+) for 2800 back of invoice, in Socal.

Was a $700ish payment on a 39/15k.

Did you return it?

17

@ NewRobert:

I’m new to this as well, so I feel your pain. I just hacked, as in poorly hacked, my way to a B or B+ deal, after considerable pain.

But I agree that you should not let this stand. I like the notion of win-win, and so on, but there’s a ton left on the table for them.

Use the so cal broker, fly down, and you could be A TON ahead.

In fact, with the savings, you could do a one pay on a new Bolt, outright.

18

PS. I’m Bay Area too.

19

There are different residuals for the momentum vs inscription. I think its a 4% hit. Either way the OP is better off going for the Momentum, the inscription is a ripoff.

1 Like
20

Yeah that’s why I mentioned the mom+

You’re right on the $ too - inscription is a joke of a trim