Benefits of Leasing a Volvo

The Volvo brand is one of the most exclusively luxurious automotive manufacturers in the world. Coupled with its impeccable commitment to in-vehicle safety, there is no better luxury brand to purchase a new vehicle from than the Swedish car maker. Volvo Cars has a long history of providing high-quality vehicles to luxury car shoppers, but what about buyers who aren’t as easily able to afford these Swedish sticker prices? Volvo has made strides in this area, offering more economically-priced models in its lineup than they have in the past, but despite this fact – many American car buyers still can’t afford the high monthly payments that new Volvo models demand. If you find yourself dreaming of owning one of the safest luxury automobiles on the market, but dismiss your desires due to budgetary restrictions, then it may be time to consider how a Volvo lease might help.

Can’t Afford to Buy a Volvo? Consider Leasing One Instead.

As great as it would be to purchase a brand new Volvo outright, the reality is that this isn’t a possibility for the majority of American car shoppers. Rather than let this get you down, consider how leasing a Volvo may be able to give you the best of both worlds. Drive home in one of the safest luxury cars in the world, without busting your budget or taking out a second mortgage on your house.

When you lease a new Volvo, you aren’t paying for the entirety of the car like you would if you were purchasing it from the dealership. Instead, you are making payments on the average depreciation of the car for the amount of time you plan to lease it. Therefore, the monthly lease payments are substantially less than they would be if you were to buy the car through traditional financing. As the lessee, you are able to choose the amount of time you would like to drive the car for, and therefore, have a say in how much your monthly payments would amount to.

Take a look at some of the other reasons why leasing a Volvo is the less expensive option over buying one outright.

• No Down Payment: When you lease a new Volvo model, you are not obligated to put down money in the form of a down payment. Because you are essentially borrowing the car for an agreed-upon amount of time, a down payment is not necessary with a lease agreement. Not having to put money down at the time of signing can be a major benefit to drivers, especially those on a tighter budget. If you do end up putting some cash down when you lease your new Volvo, your monthly payments will likely be slightly less than they would be otherwise.

• Lower Monthly Payments: As we briefly mentioned earlier, leasing a new Volvo model will result in lower monthly payments than financing the exact same car would require. For example, the 2017 Volvo S60 sedan is the lowest priced model in the lineup, with a starting MSRP of just under $34,000. If you wanted to purchase that car outright, at an interest rate of 3% for 36 months and with no money down, your monthly payments could be as high as $980. This number is not only outrageous, but likely impossible for many drivers. The monthly payment amount is slightly less when you opt for a five year loan, but is still high at right around $600 per month. If you were to lease the exact same 2017 Volvo S60 for three years with no money down, your monthly payment would be right around $350 per month. For nearly half as much as it would be to finance the same car for five years, you can lease and drive a brand new Volvo S60 of your very own. These lower monthly payments are definitely a tempting and convincing reason to lease a new luxury car, rather than buy it in full.

• No Maintenance Costs: Because most new Volvo lease agreements span three years at a time, you will never have to spend money on costly maintenance needs. Volvo’s warranty program more than covers the basics, as well as the unexpected, leaving you with the freedom to enjoy your luxury car and not worry about having to pour money into it down the road. On the other hand, most car buyers plan to keep their vehicles for as long as possible, which means well after the manufacturer warranty expires. While this is likely a practical option for people who want to own their own vehicles, it leaves them responsible for repair and maintenance bills associated with older car models.

• Get More for Less: As we outlined above by using the 2017 Volvo S60 as an example, drivers who lease will end up paying less each month for their cars, compared to those who choose to finance. Not only will your monthly payments be less taxing on your personal finances when you lease, you will also end up with a much better car in the process. The same 2017 S60 sedan that costs around $350 per month to lease, is actually not the base model at all, but the higher-end T5 Inscription model. With leather seating surfaces, a power glass moonroof, city safety technology, heated seats, and more – this version of the S60 sedan packs so many more features and amenities than the base model that costs nearly double the amount to finance.

As you can easily see, leasing a new Volvo is the far more affordable option over buying it through traditional financing. You are able to enjoy all of the spoils that the luxury car brand has to offer, without the ridiculously high monthly payments. To learn more about whether a new Volvo lease fits into your financial budget, be sure to visit Smythe Volvo in Summit, New Jersey today. The award winning team will expertly guide you through the leasing process, and help you better understand how it works, as well as the incentives that Volvo leases have to offer. With so much to gain, and nothing to lose, come visit Smythe Volvo and find out how affordable luxury leasing can actually be.