My Take: Obviously no point leasing through Volvo here. Just look at the money factor! 12.648% APR! Are you kidding me? Here’s a quick compare and contrast between what payments would be through Volvo and what they would be through on of LeaseCompare’s partner banks.
Through Volvo
MSRP – $40,595
Sale – $32,690
MF – .00527
RES – 46%
Monthly – $660 plus tax
Through LeaseCompare
MSRP – 40,595
Sale – 32,690
MF – .00264
RES – 40% (approx)
Monthly – $583 plus tax
As you can see, independent banks are much more realistic with their residual values than captive banks. This is not always a bad thing since lower residuals make your payoff at lease end lower. Should you choose to buy your vehicle in the end, it would cheaper. If I had to pick between paying a lower residual or a high money factor, I would pick the former. Now is the C70 convertible a good deal this month, whether you lease through Volvo or a 3rd party bank? No, it’s a horrible deal, I’d rather have a MB CLK instead.
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09 Volvo C70 Convertible
2009 Volvo C70 Convertible
24-month | 15k miles | residual 56% | .00596 base money factor
36-month | 15k miles | residual 46% | .00527 base money factor
48-month | 15k miles | residual 36% | .00522 base money factor