Was basically a very quick, near impulse buy (but not by I). {As you can see I am not in the picture (quite literally)).
Good deal. We are HAPPY. I AM HAPPY {& that is somewhat important}.
So far very pleased & impressed with dealership. Hope it continues as such. Nice folks. {Not as fancy & health-conscious as a ‘Volvo’ dealership, but nice enough.}
Now the SECOND Chevy in the fleet. Nothing wrong with that. I have owned a LOT of GM/Chevys. I am glad.
Will keep you posted.
Yes, still 4 leased cars: 2 Chevys, Volvo XC60 & Mazda CX-30. {The latter, 18-months into its lease still doesn’t have 2,500 miles!}
Click to ENLARGE. The agreement they were TRYING to get me to sign, yesterday.
I am NOT going to say anything, just present you the proof (above) & facts.
They, from what I gather, are sanctioned by ‘Generac‘ though only a few of the Generac dealers have embraced them as yet.
WOW!
Yes, yes, yes … they tell you that this includes maintenance & that after 10 years I will get another Generac BUT I got to carry on paying the $257.25. WOW. They are generosity personified. What a deal. So, over the 10 years I could pay for 2 generators & still have $4,850 left over. Quite the DEAL, but I don’t think it is for I.
Notice that they don’t quote an interest rate, anywhere, in the agreement. WOW.
NO, I did NOT take it. I was actually quite upset & annoyed.
Sales tactics were borderline unethical & I talk as sales ‘closer’ myself.
Who was I dealing with. A Generac ‘super’ dealer in New Hampshire. SMILE.
Click to ENLARGE. Today, 139 days after I leased it I finally clocked 1,000 miles.
Click to access this post from the day I leased it last year.
Click to ENLARGE. Yep, 7 days of not getting into a vehicle though I spent at least 3 hours, each of those days, outside, in the cold. That is my life.
Yes, it is true that this is my 2nd ‘car’ (or to be precise SUV). But, I don’t drive the other, i.e., my accursed 2021 ‘Volvo XC60‘ that much either. The Volvo is my long-distance car — for 600 — 900 mile trips. In a normal week I will use it probably once. 15 months after I leased that I have 10,000 miles on that — & that was mainly from long trips to the ‘Bold Coast‘.
Bottom line is that I just do not drive that much. People just don’t get that. No, I am NOT housebound. I go out AMBLING everyday even in the bitter cold. SMILE. Just don’t drive very much NOW. I think I am compensating for all the driving I have done in my lifetime. There was a time in my life, in the UK, when I was driving 1,000 a week, every week. So, I don’t miss driving.
I have a 10,000 mile/year lease on the Mazda. I doubt whether I will exceed the 30,000 miles at the end of the 3-year lease. I might end up buying the lease & then selling it.
Have a 15,000 mile/year lease on the Volvo. I doubt whether I will go over. But, depending on the trips I make I will certainly get past 30,000 miles.
Click to ENLARGE. Just an example.Click to ENLARGE. An actual lease proposal, albeit for a ‘Subaru’.
There was a time, 12-years ago (or so), when Hyundai & Kia (which are sister companies) did NOT offer leases. There was a good reason for that. Hyundai & Kia knew that the leases wouldn’t make economic sense. WHY? Because their cars depreciate more than other cars. Yes, it has all to do with depreciation. To put it another way a 3-year old Hyundai or Kia would be worth less than say a Toyota, Nissan or Subaru. I think most people know this. Hyundai & Kia do NOT hold their value.
That is why leasing a Hyundai & Kia does NOT make sense.
When you are leasing there are TWO (& only two) key numbers. The total purchase price (inc. handling, paperwork etc.) & THE RESIDUAL VALUE. The residual price is what the car is worth after x-years, say 3-years. It is the car’s value on the used car market.
With a lease you are PAYING for the difference between these two numbers, i.e., total purchase price less residual value. You are paying for the DIFFERENCE. So, with a lease you have to worry about BOTH numbers.
Here is an example. Let’s say a Toyota costs $27,000. After 3-years (with 36K miles) its value as a used car (i.e., RESIDUAL value) is calculated to be $17,000. So, the difference is $10,000. That is what you are leasing, $10,000. You are paying for $10,000 + INTEREST over 3-years.
Now, let’s say a similar (e.g., compact SUV) Kia costs $25,000. That sounds like a better deal, already, than the Toyota. And it could be IF you do NOT LEASE! But, let’s say the Kia’s residual value after 3-years (& 36K miles) is going to be $13,000. Now the difference is $12,000. Your leasing $12,000 rather than $10,000 in the case of the Toyota. So, the lease will cost you $2,000 more than the Toyota DESPITE the Kia being cheaper!
Hyundai or Kia dealers are UNLIKELY to tell you the residual values. But, when you look at their lease prices you can work them out. Their residual prices are LOWER. Hence, the problem. Hope this helps.
Yes, I am in the process of trying to lease another SUV — in addition to my 2022 Volvo XC60. It is while doing the sums I worked out this Hyundai/Kia drawback. I wanted to share that with YOU.
I was looking for a new car earlier this year. I was steered towards Volvo because we needed a car to haul our Newfie. A couple of days after I started looking at Volvo’s online — thanks to the magic on online shopping tracking — I got a post on my Facebook timeline telling me about Volvo’s ‘Volvo CARE’ Subscription Program. It intrigued I. I liked the 4-month OPT-OUT option & how they handled the insurance.
I was going to get a new car in April. The 4-month was near perfect. 5-month was Goldilocks. My birthday is in September. So, my car registrations in New Hampshire lapse on September 30. So, if I got a 5-month lease in April I could just register it till September.
WELL ALL THAT WORKED OUT LIKE CLOCKWORK!
I picked up the Volvo XC60 on April 14, 2021.
I paid 5-months of lease payments. The 6th month’s lease payment was due September 14, 2021. I returned the XC60 to ‘Volvo Cars of Exeter‘ (painlessly) on September 13, 2021. I had done just under 5,000-miles. I was permitted 6,250 per the 1,250 miles/month provision. So, it was a GOOD DEAL for Volvo.
I will be brutally honest. Dealing with ‘Volvo USA’ was not as easy as it should have been.
Though they had, way back in March, assured me in writing that I can return the XC60 after 4-months, they were SKETCHY, to say the least, during the whole period I had the XC60. Those that know me (& there aren’t that many) know that I have contingency plans for my contingency plans. I try to leave very little to luck or chance. So, I sent a few ‘e-mails’ & got their responses in writing.
Volvo Cars of Exeter, in marked contrast, were OUTSTANDING. They were helpful & supportive throughout the process.
Well, it worked.
I was a bit tentative, maybe even nervous, for a few days until I got the letter. I had visions of them trying to CLAW more money from I. Not so. It worked.
Earlier today I logged into my Volvo account. The XC60 is GONE!
Bottom Line: Volvo’s short-term leases with CARE works.
P.S., I just noticed that Volvo no longer offers 4-months! They have extended it to 5-months. They probably thought IF 5-months was what worked for that brown guy then 5-months must be the magic number.
