Ordered my 08 in Canada llast week

[Ted in Toronto]

I had a downpayment of $8500 that you need to factor into the calculations.
With the same downpayment on an '08, payments still increase 60%.
I leased the '04 XC70 in Nov. '03 and the lease is up in Nov. '07.
In reponse to an earlier reply, yes in fact you can lease a Mercedes for less money - and that is in fact what I have done. I have a C300 4matic with sport and premium package on order for delivery about the time the Volvo goes back; with a monthly payment of $140 less than the new XC. Obviously not the same size or type of car but we'll use my wife's Odyssey for cargo duty and the Mercedes will suit my daily commute just fine.
PS if anyone in the Toronto area wants a set of XC 70 Gislaved snows in great shape, mounted on Volvo rims c/w Volvo wheel covers, pm me.