"sonicvato" (sonicvato)
03/30/2015 at 18:50 • Filed to: Volvo, T5, CPO, car buying, advice
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"sonicvato" (sonicvato)
03/30/2015 at 18:50 • Filed to: Volvo, T5, CPO, car buying, advice | 0
| 9 |
May be replacing the wife's leased 2013 Kia Forte Sedan EX ECO (fuel saver package) as her lease ends in December. We started shopping/looking early and came accross Volvo's nice cars and great Certified Pre-owned Warranty (CPO) which is 7 yrs/100K miles from new.
We found this car which we quite like: !!!error: Indecipherable SUB-paragraph formatting!!!
We are upside down about 4K on the Kia (WTF?), but we ran some initial numbers for this 2012 Volvo S60 T5 FWD and trading in the Kia, came up with $350/month, 72 months with 2K down. Questions are:
This seems high-ish to me, but i am no expert. Any input from a similar scenario from anyone here
The warranty would take us through Feb. 2019, or 100K miles - car has just under 20K now. How do these things hold up mechanically overall? Any experience with this model Volvo?
Should we just ride the Kia out until December and go from there? We are in no real huge rush, just that the Volvo caught our eye...
Input and help is appreciated. I am in southern California in case that matters...
Sam
> sonicvato
03/30/2015 at 18:58 |
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They're reliable. I just walked through the shop and we only have one in service at the moment. I like them, as they're an unassuming luxury brand. I'd say additionally, with the CPO warranty, you shouldn't have much to worry about anyways.
bob and john
> sonicvato
03/30/2015 at 19:11 |
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what sam said, and I will add this:
volvos have THE best seats of ANY car maker on this planet. ANY of them. Audi, Merc, BMW, Porsche, McLearn, Lambo, Chevy, anyone you care to name. Volvos seats are better.
Price seems okay.
m-b-w loves his SUBAROO
> sonicvato
03/30/2015 at 19:15 |
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I would ride out that lease, and let Kia take the financial hit.
Steve in Manhattan
> sonicvato
03/30/2015 at 19:47 |
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Sounds good - you live in an area where you don't need the added weight and complication of AWD, and this car doesn't have it.
Aaron Paul: Oppo's Resident Fake British Actor
> sonicvato
03/30/2015 at 20:03 |
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DO IT DO IT DO IT DO IT
Those Volvo seats are really damn comfortable.
Textured Soy Protein
> sonicvato
03/30/2015 at 20:16 |
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How can you be upside down on a lease? Did you roll over negative equity from whatever you traded in for the Kia? I would just ride the Kia til the end of the lease, and sort out that negative equity. Plus, you don't want to take out a 72 month loan, that's forever.
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sonicvato
> Textured Soy Protein
03/30/2015 at 23:04 |
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No, we didn't roll negative equity from before, just payoff is currently at $14.5K when estimated trade in value is about $11K.
And yeah, 72 months is a loooong payment. We are just going to wait it out...
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sonicvato
> Aaron Paul: Oppo's Resident Fake British Actor
03/30/2015 at 23:06 |
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I was thinking why i liked the car so much - power was okay but not great, overall ride and smoothness was good but not great, steering was good, overall solid feeling - but realized it's a REALLY GOOD SEAT AND SEATING POSITION! That made the difference!
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Textured Soy Protein
> sonicvato
03/30/2015 at 23:31 |
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That $14.5k payoff seems weird to me when you only have what, 9 payments left? But I guess those numbers might be kinda different when you're talking about trying to trade in a leased car.
Honestly, I wouldn't go anywhere near trying to trade in a leased car. You're going to get hosed no matter what. Leases, by their nature, are not designed to create trade value. That's why the payments are lower.
Keep the car through to the end of the lease, turn it in, then worry about your next move when it's getting closer to the end of the lease.