Popular and in stock:
The carryover 2021 XC40 continues flowing into dealers nationwide, and the 2020 XC40 remains in decent supply. Interest is still high, so no model stays in stock very long. Dealer discounting is minimal, but factory incentives are available.
The XC40 is available with two gasoline engines. An electric version is in the works, but there's no word yet on a release date.
Current factory offers vary by region and will expire November 2, 2020. Examples shown here are for California and other western states.
Up to $2,950 off:
Volvo continues to offer a $750 rebate on all 2020 XC40 trims. This could increase later in the year, but not by much. The XC40 has never needed the help of rebates to find buyers.
In addition, current Costco members will receives a $1,250 bonus.
The rebate on the 2021 XC40 stands at $500, and the Costco bonus is available.
On top of everything else, current Volvo customers are eligible for a $2,000 loyalty bonus toward any 2020 XC40 when buying, or $1,000 toward a lease. The loyalty bonus on the 2021 XC40 is $1,000/$500.
What's up with leases:
Once again, the 2020 XC40 T4 Momentum starts at $329 for 36 months (10,000 miles a year) with $3,829 due at signing. The effective monthly cost is $435, which is better than some earlier offers.
Even so, the XC40 still doesn't rank as a good lease value in our analysis. Perhaps later this fall there will be a deal we can recommend.
The latest lease offer on the 2021 XC40 Momentum is $335 a month with $3,835 due at signing. The effective monthly cost is just $7 higher, so upgrading to a 2021 model makes sense.
APR at 0%:
In place of the standard rebate, Volvo continues to offer 0% financing for 60 months on all versions of the 2020 XC40.
The same promotional rate is now available on the 2021 XC40, along with $1,000 bonus cash.
With either offer, you remain eligible for the loyalty bonus and Costco bonus.