Ok so I have a 2012 Volvo s 60 that I really like. At 62,000 miles, Volvo dropped a brand new 2015 engine in the car because it was consuming tons of oil. New engine started to do the same thing in Sept at 64,000 miles. I have a lifetime warranty on the replacement engine so Volvo is dealing with it.
Car has roughly 126000 miles on the two engines. Ridiculous!
Anyway… here are my options
Volvo will replace the engine at no charge to me at all. I should add, we have done all major things to this car!
They have offered us $5000 which the person at our dealership says could be upped a bit. This can be used on any Volvo for sale…new or certified pre owned or just used. There is a previously leased 2021 s 60 I’m looking at for $33000. 23000 miles. I don’t intend to own this car for more than 3-4 years because I was planning to get a hybrid or EV next.
So…wwyd? The book value of my car is under $5000. I’ll never get that much for it even with a new 2015 engine.
Seems like you should just get the new engine in your current car for no cost to you. Especially since you plan on buying a different car in 3-4 years.
You can use this car in the meantime and keep saving up for your next car.
Used car prices are still inflated and it’s not a great time to buy unless you really need to.
Third vote for option #1, especially if the car is in good shape otherwise. The dealer is asking you to shell out over $30k for a car you don’t plan on keeping very long. Not that enticing.
I also concur with @ChoatieMom that now isn’t a stellar time to be shopping in the used car market.
No question have them put the engine in. Those cars last… Usually… Or have them make you a fantastic offer that you can’t refuse on a new car. But as stated, keep the car and by the time you get more years out of it the current technology should be a lot better then it is right now. Then you can sell the car to a student and make them the deal of a lifetime.
I’m thinking I could trade in a newer car in the future…but not my 2012…ever.
And we are looking for the best possible deal.
We also will be asking for their best offer…and a few extras that we always ask for…nice winter floor mats, and in this case an extended warranty from Volvo. Let’s just say…with two bad engines, I don’t have a lot of faith in them right now…
If they give us a few thousand more instead of replacing the engine…IF.
How much will it cost to replace this engine…? I’m guessing more than $5000!
Have you considered option 3, get an EV or hybrid now?
Otherwise I’d drop the new engine in this car as the depreciation curve is pretty flat at this point.
It doesn’t make much financial sense to get a car you know you’ll replace in a few years. You’ll lose quite a bit in depreciation in those first few years, even with a used car in the 25-30k range.
So I’d consider looking at the current EVs/hybrids. XC40, C40, etc. Or ideally you’d get cash you could use on other brands.
Contrary to what others have said, I think this is actually a pretty good time to buy a car as long as you’re not financing. It is very different now than 15-16 months ago.
$33k for a used S60 does not seem like much of a deal when a new EX30 (since you want an EV) is $36k. Unfortunately, it will not start delivery until next summer.
If you just need a car for a few years until you can buy a car you really want, getting the free replacement engine should be a cheaper way to do it than buying a $33k car. A $33k car will probably depreciate more than $5k over a few years.
As I see it, if you don’t just let them put a new (to you) engine in now, they (Volvo) are the only ones that “win” - they “give” you ~ $5k, and you buy another car for ~ $33k - that $5k cost them nothing, it’s their markup on the used car you’ll buy. They win. Put the engine in. Hold it for the 3-4 years and get your new EV.
No. I only get the money from Volvo to buy another Volvo. Their EV selection is all SUV models, and also Uber expensive. The C30 is the only one I even come close to liking and it’s $60,000. So…hard no.
And Volvo doesn’t really make a hybrid. Their hybrids are mild hybrids…and frankly those are poor excuses for a hybrid.
And really…I have driven this Volvo sedan for 12 years…I could easily drive another for 10 plus years. Honestly I dont really drive all that much.
I’ve driven the C40 and it felt sedan-like to me. Remember with EVs the battery lowers center of gravity.
Also, be sure to look at price after EV rebates. I believe with Volvos you’d need to look into leasing and then buy it out. Iirc they are one that passes the federal credit through the lease. But that’s 7500 off plus whatever state incentives you have available. Turns a 60k vehicle into low 50k.p, maybe better after state incentives.
Or ask for cash and go buy a polestar (same lease hack required to get the federal credit I believe).
Just a thought. If you’re going to eat depreciation on a 30k gas guzzler you might as well go for a new EV that you might end up keeping for many years.
If Volvo would give me cash, this would not be a problem. There are plenty of other cars I would look at…but this offer of $5000 or maybe more is for purchasing another Volvo only. That’s the one reason why I might just have them drop another engine in my 12 year old car.
And adding…I don’t drive a lot…because I’m retired. I don’t exactly use a ton of gas.
And I also think the EV market is going to change substantially.
I will ask if I can apply this $5000 or more to a lease down payment…because that might work. With all the changes to EVs that are coming, I am not sure the EV I might buy now would be one I would want in the future anyway.
But…I do not want an SUV model car. At.All.
So…suggesting that just isn’t going to work for me.
I understand. But the C40 isn’t a full sized SUV. I think they call it a crossover. It’s only 2 inches taller than the EX30. Same platform as Polestar 2. That’s why I thought it might be worth considering.
I’m not sure what changes you expect in EVs in the next few years so can’t really comment on that. (Not saying that sarcastically, just not sure if you have range, ai, etc in mind).
But do check out incentives in your state to get a sense of the real out of pocket numbers.
