Volvo S60 Lease
This is your complete guide to leasing a Volvo S60 including everything from upfront costs to lease-end options.
Written by Sarah Gray
Reviewed by Jessica Barrett
Leasing a new Volvo S60 hybrid or plug-in hybrid can be a more affordable way to green up your garage than purchasing. But all leases have specific conditions that can be confusing if you’ve never leased before. That’s why it’s important to understand the ins and outs of leasing before you sign on the dotted line for your new S60.
Leasing offers drivers the opportunity to get into a new vehicle every few years with a monthly payment that can be a lot cheaper than financing. But leasing isn’t right for everyone, so it’s important to know what you’re looking for and how a lease works before you sign a contract.
Don’t worry,
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comparison app Jerry
has got you covered. We’ve gathered everything you need to know about the leasing process, costs, and what to expect at the end of your Volvo S60 lease.We'll even show you how to save on
Volvo S60 car insurance costs
to make a car loan
payment more manageable.MORE: How to lease a car
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How to lease a Volvo S60
Leasing a vehicle is a deceptively easy process, and that’s why customers sometimes find themselves paying more than they can afford for what they thought would be a more affordable option.
Before you head to your dealer, start with these tips and tricks to make sure a lease is right for you—and that you get the best deal:
- Check your credit score. In general, you need a higher credit score to get approved for a lease than you do for a purchase. The minimum credit score ideal for leasing a vehicle is 700.
- Calculate your budget. Your car is one of the biggest expenses you’ll have, so you need to be sure you can actually afford it. Your monthly car payment should never exceed 15% of your monthly income. That means if you make $5,000 per month, your monthly car payment cannot be higher than $750.
- Calculate your down payment. This is the surprising aspect of leases for most drivers. Almost all leases will require you to put money down at lease signing—much like a deposit on an apartment lease. You should plan to have at least a few thousand dollars available for cash due at signing.
- Consider how much you drive. Most leases limit the amount you can drive to no more than 15,000 miles per year. If you drive more than that, you can check into high-mileage lease options—but that will increase your monthly payment.
Once you have your finances in order, you can begin comparing lease offers at your local
Volvo
dealership. Your monthly payment on your lease will depend on the negotiated sales price—so if you’re just looking to be able to say you drive an S60, consider leasing the B5 Momentum. If you want the plug-in hybrid experience (and your budget can handle it), check out one of the Recharge trims.
Be sure to keep your budget firmly in mind as you shop for your new Volvo. This will keep both you and your salesperson from getting distracted by expensive features and add ons.
The final step: shop for insurance
Most leases don’t include insurance, and one of the conditions of your lease is that you’ll need to carry
full-coverage insurance
. Full coverage is obviously more expensive than minimum liability, but don’t worry, Jerry
can help you get full coverage for a low price within minutes!Jerry is your ultra-talented car insurance broker for life. No need to sit across from him at a desk—Jerry is an app! It takes less than a minute to sign up and you’ll be presented with competitive rates from more than 50 top providers.
The best part? The average Jerry driver saves $887 a year!
MORE: How to calculate a car lease payment
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How much does a Volvo S60 lease cost?
Leasing a Volvo S60 is cheaper than financing, but the exact cost of your lease will depend on several factors, including:
- The model you select
- The selling price
- Your lease term
- Your interest rate
- Add-ons you select
- Your state’s sales tax rate
Depending on manufacturer and dealer specials, you can generally expect your monthly payments for a 36-month lease to be somewhere between $429 for a base model S60 and over $800 for the top-of-the-line T8 Polestar.
Remember that these are just estimates. Plus, you still haven’t factored in your down payment, acquisition fees, and other additional taxes and fees that will determine how much cash you’ll have due at signing.
To give you an idea of how much you might need to put down, let’s look at potential upfront costs associated with leasing a 2022 S60 B5 AWD Momentum. Your monthly payment will be about $465, but your upfront costs will include:
- First month’s payment: $465
- Down payment: $3,765
- Security deposit: $0
- Acquisition fee: $995
That means you’ll have $5,225 due at signing—and that doesn’t include sales tax, add-on features, and other factors that could increase that amount and your monthly payment.
Services included in a Volvo S60 lease
Unlike many manufacturers, Volvo includes complimentary scheduled maintenance for the first 3 years or 36 miles miles. This program covers all the bases for your new vehicle’s 10K-, 20K-, and 30K- mile maintenance, as well as active and passive safety-systems checkups and onboard computing monitoring checkups and maintenance.
Like most leases, a lease on a Volvo s60 does not cover vehicle maintenance. You can choose between two
prepaid maintenance plans
if you want to have more control over the expenses associated with maintenance.Key Takeaway Volvo includes vehicle maintenance for the first 3 years or 36,000 miles you own your car.
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What to do when your Volvo S60 lease is up
When your lease term ends, you’ll have the choice to either return or purchase your vehicle.
How to return a leased Volvo S60
Returning a leased Volvo involves the following steps:
- A technician will contact you to schedule a pre-inspection
- Review your inspection results and make any necessary repairs
- Schedule a turn-in appointment with your local Volvo dealer
- Return your vehicle to your local dealer
- Receive your lease end liability notice in the mail
You will have a $350 disposition fee at the end of your lease, but this fee is waived if you purchase your leased vehicle or buy or lease a new Volvo.
How to purchase a leased Volvo S60
We won’t blame you if you get attached to your S60! If you decide you want to keep your Volvo, you can buy it outright or negotiate financing with
Volvo Car Financial Services
or your own bank or credit union.How to find affordable car insurance for a Volvo S60
Volvo has you covered when it comes to vehicle maintenance, but you’re still on the hook for full coverage insurance. That’s why you need licensed broker and super app
Jerry
to help you find the most affordable insurance to go with your lease.Jerry does all the hard work of finding cheap quotes from the top name-brand insurance companies and finalizing your new car insurance. Jerry will even help you cancel your old policy.
And to ensure you always have the lowest rate, Jerry will send you new quotes every time your policy comes up for renewal, so you’re always getting the coverage you want at the best price. This level of service is why Jerry earned a 4.6/5 rating on the App Store and made it the top insurance app in the country.
“After I bought my new car, the insurance companies tried charging me $315/month.Jerry, on the other hand, found me full coverage for only $220/month. Thank you!” —Mari E.
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Is Volvo S60 leasing worth it?
Whether leasing any vehicle is worth it depends on your finances and your priorities. If you’re looking for long-term options, financing is probably better for you. If you’re more interested in ensuring you can afford the Volvo S60 you want, leasing may be a great option for you.
What’s the cheapest Volvo s60 you can lease?
Your Volvo S60 lease cost will depend on several factors including price, taxes, your credit score, and the amount you have to put down. Generally speaking, the S60 with the cheapest monthly payment and upfront costs is the B5 Momentum.
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