2021s take over:
The carryover 2021 XC60 is now in good supply at dealers nationwide. In fact, the XC60 is the most-stocked crossover in the Volvo lineup.
The T8 eAWD plug-in hybrid receives a price cut and a new name, T8 Recharge. Volvo says the regular XC60 will adopt mild hybrid technology at some point. Factory incentives are already robust.
The T8 Recharge qualifies for a federal tax credit up to $5,419. However, it's not eligible for the California Clean Vehicle Rebate due to new minimum range requirements.
Current factory offers vary by region and will remain in effect through November 30, 2020 unless otherwise noted. Examples shown here are for California and other western states. There's a chance Volvo will enhance incentives for Black Friday weekend.
Up to $5,250 off:
Volvo is offering a $2,000 rebate on the 2021 XC60 T5 and T6 trims. The amount increases to $3,000 on the T8.
In addition, Costco members will receive a $1,250 bonus on any trim, and current Volvo customers are eligible for a $1,000 loyalty bonus (also good on leases).
Add it all up, and your potential savings on a new XC60 comes out to $5,250.
What's up with leases:
The 2021 XC60 T5 Momentum now starts at $415 for 36 months (10,000 miles a year) with $4,165 due at signing. The effective monthly cost is $531, which falls just short of a good value in our analysis.
At the top of the 2021 XC60 lineup, the Recharge Inscription Expression starts $499 a month with $4,249 at signing. We consider this a very good value for a vehicle priced just shy of $55,000.
0% APR + cash:
In place of the full rebate on a 2021 XC60, you can get 0% financing for 60 months. The deal comes with $2,000 bonus cash on the T8, and $1,000 on the other trims.
You remain eligible for both the $1,000 loyalty bonus and the $1,250 Costco bonus.