If I lease a new Volvo car, am I getting a better deal than purchasing?
Sometimes this seems to be the case, but essentially, it depends on your finance situation. Sometimes drivers get a better deal by purchasing, other times leasing works out in their favor. To know for sure, we recommend visiting with one of our Volvo finance consultants to discuss your options.
What is an APR?
APR stands for annual percentage rate, which is the amount of interest you pay on a car loan.
Can you explain residual values?
A residual value is the estimated amount a car will be worth at the end of the lease. The residual value determines your monthly payment, as well.
How is sales tax applied to a lease?
The sales tax is applied to the amount the car is worth as you drive it, not the entire price of the vehicle.
How should I determine what mileage to include in the lease?
Generally, we recommend 10,000 to 12,000 miles annually. If you drive frequently and think you might need more miles, you can always contact the Ira Volvo Cars South Shore Finance Department to add more miles.
What is the shortest car lease available?
The typical Volvo car lease is 36 months, but we do offer 24-month leases occasionally.
What if I need to end my lease early?
If, for any reason, you need to end your lease contract early, there is a penalty to do so. Please contact our team if you're considering this option.
What happens at the end of my lease?
After we inspect your leased vehicle for wear and tear, you can either purchase the vehicle or start a new lease.