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2023 Volvo XC40 Recharge
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2024 Volvo Deals Just Announced

Volvo has just dropped the first deals of the 2024 model year, and all their models are getting some sort of savings, whether you choose to lease or purchase. You can take advantage of these fresh deals and get in on the ground floor of a 2024 Volvo.

Right now, no matter the model, all 2024 Volvo vehicles are eligible for up to $500 off of a lease, or $1,000 off a purchase for current Volvo owners and lessees. This is a pretty decent deal since we don't often see big discounts from Volvo. Leases from Volvo are expensive, and we don't typically recommend taking this route, and though $500 is a nice incentive, it doesn't make any Volvo a better deal when you lease. Unless you're looking at an EV that is.

Your biggest saving comes when you lease a new plug-in hybrid or battery electric vehicle, where you could qualify for a full $7,500 lease credit.

You can combine this with the $500 credit for a total saving of $8,000 when you lease a 2024 S60 Recharge, S90 Recharge, XC 40 Recharge, XC60 Recharge, or XC90 Recharge model and finance through Volvo Car Financial Services (VCFS). This is a good introductory deal on an EV or hybrid lease, though the prices start a little high for our taste. MSRPs for the base S60 Recharge start at $53,045 and run to $73,095 for a base model XC90 Recharge. Since this deal is only available on leasing, it's a good idea to check the fine print and make sure there is a lease buyout option if you plan to keep the car. Some automakers are moving away from allowing buyouts for EVs so that they have more control over residual EV inventory.

2023 Volvo S90 Recharge

Make no mistake, though, the electric and hybrid Volvos don't come cheap. Leasing a hybrid S60 Recharge starts at $629 a month for 36 months with $3,929 due at signing. With an effective monthly cost of $738, this is not a good deal relative to its MSRP. The fully electric XC40 Recharge doesn't currently have a lease deal for the 2024 model, but the 2023 model is currently leasing for $629 a month with $4,129 due at signing. This deal is expensive, and we expect the 2024 model to begin leasing at a slightly higher cost.

Volvos never make reliably good lease deals, so you may be better off purchasing your new model. Volvo has a reputation for quality and making cars that last. There aren't currently any advertised APR specials on the 2024 Volvo lineup, though $1,000 off any model is a good deal for this early in the model year if you're looking to get into a newer model. The current 2023 Volvo XC models are starting with an APR of 4.99 for up to 72 months. This is a competitive deal in today's market. We expect the 2024 models to get an APR deal soon, and for it to be a little higher than the rate we're seeing currently.

You can start shopping for your next 2024 Volvo today, as we expect to see the new models on the ground soon.

Pictured: 2023 Volvo XC40 Recharge (Top), 2023 Volvo S90 Recharge (Middle)

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Meghan Carbary has been writing professionally for nearly 20 years. A published journalist in three states, Meghan honed her skills as a feature writer and sports editor. She has now expanded her skill-set into the automotive industry as a content writer for Auto Credit Express, where she contributes to several automotive and auto finance blogs.

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