Yes, it’s a former rental blow out. There was a load of them sold in auction when those firms liquidated a huge chunk of their fleet due to covid.
It has clean carfax (fwiw) including a service at a Volvo dealership before the fleet auction sale (where a different dealer bought it and CPO’d it).
I guess here’s the pros/cons as I see it:
+ve: using law of averages, historical Ave sales price for 2/3/4yr old XC90s etc I should come out financially a fair bit ahead of a lease on cost of ownership…
-ve: …but I wear the downside risk if residual values fall a lot
-> Reliability / warranty
-ve: unknown risk of how it was driven before as a former rental and I wear that risk
+ve: 4.5 yr warranty (3.5 yrs left on original + 1 year additional CPO) should cover major issues, and supposedly the later model XC90s have smoothed out the early model kinks?