Getting a Volvo S40- Opinions

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Doing some research, it looks like I can pull off an 06 Volvo S40 to lease for under 300 a month (Ford Discount). I just wanted to know what people think of the car and Volvo's in general. Its the base engine, I took it for a test drive and liked it a lot. Just wanted to know about Volvo's reliability, problems, etc. as I have never dealt with Volvo's in my life. Any info you can give will be much appreciated.

Thanks

posted by  OttawaSensky

Reliability is generally good on Volvo's. Is it a petrol or diesel you're thinking of getting?

posted by  Cliffy

Any reason why you are leasing it? Leasing vehicles is just like throwing money down the toilet.

I like the S40, but I'd much rather have other vehicles in its segment.

posted by  thunderbird1100

We only get petrol Volvos over here cliffy :mrgreen:

posted by  thunderbird1100

Oh yeah....I forgot that VW's seem to be the only Diesels you guys get lol.

As far as leasing goes, it can work out cheaper in the long run. I mean, you get tyres and Servicing paid for throughout the term of the contract, and if after the lease expires you want to buy the car, you can, at a cut down price!

posted by  Cliffy

Well, here is why I lease. I dont put on that many miles, so I really dont need that much. The entire length of the term of the lease my car will be under warranty, so if anything happens I dont pay for it, and its also a lower monthly payment than if I bought. I honestly see no real reason given my driving characteristics why I need to purchase a car. Plus I get a new car every 3 years if I want to. Also, like you said, If i really love the car, I can just purchase it at the end.

A question to the other poster, in its price range, what cars do you like better? Id still like to look at other vehicles, so any suggestions you can give would be great.

posted by  OttawaSensky

Accord V6
TSX (if you're willing to go up to about $27k)
6s
Altima V6
Impreza WRX (Saab 9-2X)

To name a few.

I still think buying a car is a much better idea than leasing, you still are losing more money buy not purchasing the vehicle (and the fact you never really "own" a vehicle, just "renting" it from the dealer). If you decide to buy the vehicle at the end of the lease you're really wasting a lot of money, you get it for a discounted price, but you still pay thousands more than what you would of paid for it if you just bought it up front. Plus, it's good just to own a great car for years and years (like my 1990 Accord which was purchased new in feb. of 1990 by my dad, 229,200 trouble free miles). While you had a car payment for the past 12 years, he didnt as he paid off the Accord in 4 years. You dont need a new vehicle every 3 years.

posted by  thunderbird1100

Fair point, but look at it from another point of view. He may spend a few thousand on it for the three years, than buy it at a bargain price. This price usually reflects the fact that he's paid alot of money for it over the years. So really, he pays only what the car is worth and doesn't need to worry about maintenence! :thumbs:

posted by  Cliffy

That's not true. There is a reason financial people always put down leasing, because if you do end up buying the vehicle in the end, you end up paying WAY MORE than someone who bought the vehicle when it was brand new. Otherwise, people would be leasing vehicles left and right...which obviously most people do not do.

Plus look at this in the long run. If you lease 4 vehicles over 12 years (3 years a pop), you constantly have a car payment, basically a 12 year variable car payment. Say you pay on average only $300 a month for your lease, but you pay that over 12 years constantly. That ends up being $43,200 you spent on RENTING cars, cars you never own. While "the other guy" bought a car that was $20,000 (the same kind of vehicle you were leasing) and paid it off in 4 years with a $3200 down payment. His monthly payment was $350. So, after only 4 years, he wasnt paying a thing as far as a car payment goes while the guy leasing is still paying his $300 every month, for the rest of the 12 years (8 years). In the end you save a ton of money. Plus you have so many constrants when leasing a vehicle (such as you can only drive X amount of miles, and if you go over that, they make you pay, big time).

posted by  thunderbird1100

But surely that would defeat the object of leasing a vehicle? afterall, alot of companies who own numerous vehicles use a contract plan!

posted by  Cliffy

People lease vehicles because of mostly one thing, the lower monthly payment.

posted by  thunderbird1100

That is really a main reason for it, a lower monthly payment, the chances of me buying the vehicle are very slim. I enjoy it because I can get a pretty nice vehicle with a lower payment. The WRX payment in a purchase was around $430 a month (out of my budget).

I am going to look into the TSX, perhaps because im turning the car in theyll give me a deal, but i have a feeling it going to be too much. I really didnt make it into a lease v. buy debate, because if im getting a new car, its going to be a lease, if i cant find anything, i may just have to purchase a used junker or something.

When I get a better job, I do plan on purchasing a vehicle, its just something where I hate driving crappy vehicles, im usually good at saving money, but cars are just something nice I like to have.

posted by  OttawaSensky

If you're "smart" you'll forget the Volvo and get yourself and Audi A4. You get a far better performance and its German:wink2: Maybe a used BMW. If you prefer safety and reliability then go with the Volvo, they're the best. Try looking around the internet, maybe you find a more suitable car for you. As for the payments, find a used car. You can find a used Audi A4 for as low as 15k US$.

posted by  Mike007

I am always a little skeptical about buying a used car, especially if its european. (If you end up getting a car with a ton of problems, the price to repair all of that will be tremendous) Audi's are probably one of, if not my favourite type of car. The difference here is, I would be getting a NEW Volvo S40, which I like, compared to a used Audi. I will look into a used vehicle, as I have no idea how much ill have to pay for something along the lines of 14-15K used.

posted by  OttawaSensky

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