2018 Volvo S60 (3rd Gen) & V60 (2nd Gen)

[Estrangable]

how much did you guys paid for the S60? Two days before the CB starts, the price was $129k for immediate delivery. I managed to nego for my friend to 127K for 3 guaranteed bids and 125K for 6 non-guaranteed. S90 was selling at 159K all in for immediate delivery.   

[Aerogen]

2 hours ago, Estrangable said:

how much did you guys paid for the S60? Two days before the CB starts, the price was $129k for immediate delivery. I managed to nego for my friend to 127K for 3 guaranteed bids and 125K for 6 non-guaranteed. S90 was selling at 159K all in for immediate delivery.   

139k for the T4 R design, 6 bid guaranteed. 

[Calvin8808]

3 hours ago, Estrangable said:

how much did you guys paid for the S60? Two days before the CB starts, the price was $129k for immediate delivery. I managed to nego for my friend to 127K for 3 guaranteed bids and 125K for 6 non-guaranteed. S90 was selling at 159K all in for immediate delivery.   

 

55 minutes ago, Aerogen said:

139k for the T4 R design, 6 bid guaranteed. 

I got it for 129K T4 Momentum, 6 bid Guaranteed

[firefly20]

I booked the S60 M for $127K with 6 bid G during CB ($1K discount as loyalty bonus + service credit redemption).

So far no bids placed yet during the last 2 biddings.

Having just changed the battery (could no longer stand the battery warning light after ignoring it for more than 1 month), I'm actually hoping to only get the new car at the 6th bid. That would really stretch my dollar.

Btw did anyone take a close look at clause 22c of the purchase agreement? 😱

[Spurman]

47 minutes ago, firefly20 said:

I booked the S60 M for $127K with 6 bid G during CB ($1K discount as loyalty bonus + service credit redemption).

So far no bids placed yet during the last 2 biddings.

Having just changed the battery (could no longer stand the battery warning light after ignoring it for more than 1 month), I'm actually hoping to only get the new car at the 6th bid. That would really stretch my dollar.

Btw did anyone take a close look at clause 22c of the purchase agreement? 😱

Wonder would the trade in of your current ride change in price.

[mersaylee]

How come I see quite a number of one month old Volvo Wearnes is offloading at higher asking price?

Edited July 29, 2020 by mersaylee

[firefly20]

35 minutes ago, Spurman said:

Wonder would the trade in of your current ride change in price.

I doubt so as SE called me the other day and advised me to be patient as COE was too high (which I agreed). He didn’t mention anything about revising the trade-in price. 
 

Anyway I doubt Wearnes will resort to this as a seller of mainly luxurious car brands. 

[firefly20]

36 minutes ago, mersaylee said:

How come I see quite a number of one month old Volvo Wearnes is offloading at higher asking price?

Mabbe special promotion during CB. 

The XC40 is selling cheaper than the S60 currently but was $10K more during CB due to S60 promotion. 
 

I would be highly tempted to get the XC40 if it were the same price as the S60 during CB despite its lower OMV. 

[Calvin8808]

11 hours ago, firefly20 said:

I booked the S60 M for $127K with 6 bid G during CB ($1K discount as loyalty bonus + service credit redemption).

So far no bids placed yet during the last 2 biddings.

Having just changed the battery (could no longer stand the battery warning light after ignoring it for more than 1 month), I'm actually hoping to only get the new car at the 6th bid. That would really stretch my dollar.

Btw did anyone take a close look at clause 22c of the purchase agreement? 😱

Yes I saw that clause too, but not when I signed the agreement (as usual, most people always sign without looking at the fine print).

The clause goes "In the event ...purchaser/vendor fails to secure COE after 90 days from the date of this agreement...vendor has right to cancel the agreement...and charge purchaser...$1,000."

Not too sure what it meant too and I did not ask my SE. 

But I did asked her over WhatsApp to confirm that since it's 6 bids guaranteed COE, does it mean even in the unlikely event COE have an significant increase to $50K or even $80K they still need to secure the COE and hand over the car to me by the 6th bid and there's no fine print or clause that allows them to cancel the deal.

Her reply was "Never happens before on a Authorized Dealership. The sales agreement is legal binding both ways. Any increase in COE price no effect on purchase price and COE have to be made available within 6 bids, 3 months" 

11 hours ago, Spurman said:

Wonder would the trade in of your current ride change in price.

 

10 hours ago, firefly20 said:

I doubt so as SE called me the other day and advised me to be patient as COE was too high (which I agreed). He didn’t mention anything about revising the trade-in price. 
 

Anyway I doubt Wearnes will resort to this as a seller of mainly luxurious car brands. 

For the trade-in price I guess it's a case to case basis? For mine, the trade in price was affected. I signed the agreement in early April and the estimated delivery was end May. So they calculated the trade in price of my car on the assumption that I hand over my old car to them in May as well. When I handed over my car to them in early July, they re-calculate the trade-i price based on my hand-over date in July.

But maybe it's not applicable to all customers, I think it's case to case and depends on what car you trading in. Cos my car is due to scrap end July. So they only taking in the car on paper value (PARF + COE rebate + Body). So when I hand over the car in July, the COE rebate is affected and thus the re-calculation. 

As for the new car, I did told her to let management know that my case is not urgent, if possible collect at the 6th bid even better. But as usual we know it's out of our (customers) hands as the company will decide when to secure the COE based on price, and also meeting sales quota. So whether you urgent not urgent also depend if it meet the company's priorities which I think is normal.  

[mersaylee]

11 hours ago, firefly20 said:

Mabbe special promotion during CB. 

The XC40 is selling cheaper than the S60 currently but was $10K more during CB due to S60 promotion. 
 

I would be highly tempted to get the XC40 if it were the same price as the S60 during CB despite its lower OMV. 

But already registered and selling at higher price than those during the CB despite being a month lesser in terms of coe tenure... 

[Calvin8808]

12 hours ago, mersaylee said:

How come I see quite a number of one month old Volvo Wearnes is offloading at higher asking price?

 

5 minutes ago, mersaylee said:

But already registered and selling at higher price than those during the CB despite being a month lesser in terms of coe tenure... 

These cars are actually either management units, or display/test drive units. Selling at higher price because the CB promotion is over. For example the S60 T4 Momentum was on promo for $129K at the start of the CB, and I think then the price increase by $5K to $134K in June. And after the CB the last I checked after the 1st COE bidding the price increased to $160K with $13K over trade, effective nett price of $147K. 

Currently I see them selling the S60 T4 Momentum management car at $145K (listed price)

In short the CB promotion over and you can't get it at that price for now. 

[Sdf4786k]

13 hours ago, mersaylee said:

How come I see quite a number of one month old Volvo Wearnes is offloading at higher asking price?

buyers need to be persuaded with huge discount to buy the car even if its an illusion.

Edited July 30, 2020 by Sdf4786k

[theory_87]

Wow. I got mine for $142k 6 bid guaranteed for T4M the 1st weekend after CB. I don't have car to trade in so can't nego for lower price

[boonco]

2 minutes ago, theory_87 said:

Wow. I got mine for $142k 6 bid guaranteed for T4M the 1st weekend after CB. I don't have car to trade in so can't nego for lower price

I bet you will get your car very quickly. Basic cost for T4M $127k @ 35k COE, so that's still a good margin. 

[theory_87]

35 minutes ago, boonco said:

I bet you will get your car very quickly. Basic cost for T4M $127k @ 35k COE, so that's still a good margin. 

But Wearnes is only willing to bid $30k for the last round. So I got a feeling they are trying to use those who bought at a higher to cover those who bought pre-CB. Let see how it goes. there are 4 more bidding for them to play with. Hoping the reduction in Cat B quota will force them to deliver earlier to all of us in view of possible COE price rise.

[boonco]

4 minutes ago, theory_87 said:

But Wearnes is only willing to bid $30k for the last round. So I got a feeling they are trying to use those who bought at a higher to cover those who bought pre-CB. Let see how it goes. there are 4 more bidding for them to play with. Hoping the reduction in Cat B quota will force them to deliver earlier to all of us in view of possible COE price rise.

Yeah I think perhaps anyone who booked since CB is covering for the less margins from the CB deals. But given that they're putting the management cars on the market before fulfilling the CB deals (clearly, they did get COEs), leads me to think your deal could take higher priority (and this is within their right to do so).

Quote

Hoping the reduction in Cat B quota will force them to deliver earlier to all of us in view of possible COE price rise.

Interesting perspective. Everyone in the COE thread in general forum seems to think it's on the downward trend from here once the high margin backlogs are filled, so who knows if it'll go up or down.

I do hope they won't reneg on the CB deal but these are extraordinary times.

[Calvin8808]

25 minutes ago, theory_87 said:

But Wearnes is only willing to bid $30k for the last round. So I got a feeling they are trying to use those who bought at a higher to cover those who bought pre-CB. Let see how it goes. there are 4 more bidding for them to play with. Hoping the reduction in Cat B quota will force them to deliver earlier to all of us in view of possible COE price rise.

 

14 minutes ago, boonco said:

Yeah I think perhaps anyone who booked since CB is covering for the less margins from the CB deals. But given that they're putting the management cars on the market before fulfilling the CB deals (clearly, they did get COEs), leads me to think your deal could take higher priority (and this is within their right to do so).

Interesting perspective. Everyone in the COE thread in general forum seems to think it's on the downward trend from here once the high margin backlogs are filled, so who knows if it'll go up or down.

I do hope they won't reneg on the CB deal but these are extraordinary times.

Well I suppose both you are quite right on this. After the first round of COE bidding, I checked with my SE if any of her customers manage to secure their COE...I was told none except for a buyer who bought XC90 post CB. So that sort of tell the story. And as rightly pointed out by "boonco", it's within their right and rightly so. When the margin is higher you have a higher threshold/budget to spend on the COE. So "theory_87" should get the car before those who bought during the CB. I' guessing you should be able to secure your COE the next round as I expect the COE to be around $32K. As for those who bought during CB at around $129K or thereabout, the earliest we can get our car would probably be 2nd bid of August onward. I also believe that it will be a downward trend but significant maybe around the $28K to $32K mark till end Sep. 

Initially like most car buyers, I'm just like a little kid at the candy shop and want to quickly have the candy. So was hoping to secure the COE in the 1st bidding of July. But before the 2nd bidding I sort of come to terms that the earliest I can get it will be end August. And also I was thinking since currently WFH, I don't need the car during weekdays and during weekends I can use my brother-in-law car, it's actually better to collect at end Sep since collecting the car early means incurring expense earlier as well. I can use the money save on the expense to replace the stock rims. 

I don't mind collecting at the 6th bid, but am also concern that they will renege on the deal. Unlikely but not impossible.

 

[firefly20]

10 hours ago, Calvin8808 said:

For the trade-in price I guess it's a case to case basis? For mine, the trade in price was affected. I signed the agreement in early April and the estimated delivery was end May. So they calculated the trade in price of my car on the assumption that I hand over my old car to them in May as well. When I handed over my car to them in early July, they re-calculate the trade-i price based on my hand-over date in July.

But maybe it's not applicable to all customers, I think it's case to case and depends on what car you trading in. Cos my car is due to scrap end July. So they only taking in the car on paper value (PARF + COE rebate + Body). So when I hand over the car in July, the COE rebate is affected and thus the re-calculation. 

As for the new car, I did told her to let management know that my case is not urgent, if possible collect at the 6th bid even better. But as usual we know it's out of our (customers) hands as the company will decide when to secure the COE based on price, and also meeting sales quota. So whether you urgent not urgent also depend if it meet the company's priorities which I think is normal.  

I'm really surpised to read this. I mean the depreciation of most trade-in cars should be roughly around $1K per mth so to nego the trade-in price due to delays in successful COE biddings (which is beyond customers' control anyway) seems a bit petty for an AD. I mean if it's a small PI, I still can understand but I certainly won't expect a major AD such as that for Merc or Toyota to do this.

From your last para, I think you're the type of customers that AD likes. Haha.