Saab leases ARE more difficult to get out of - Saab NG900 & OG9-3 Bulletin Board - Saabnet.com
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Saab leases ARE more difficult to get out of
Posted by John N. (more from John N.) on Mon, 8 Jul 2002 16:19:14
In Reply to: Not just Saab--all leases after only 1 year. nm, pmr, Sun, 7 Jul 2002 08:25:25
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Saab leases are difficult to get out of early for two big reasons - poor resale value and pumped-up residual values in the lease contract. With 5 months to go I am still upside down. A friend of mine in the business told me that with some other makes (BMW for example) I could likely get out now. However, with a Saab, forget it.
Last time I checked, my pay-off on my 2000 9-2 SE was around $19,500 with 5 months to go on the lease. If I were to trade it, I would get around $16,000. The best thing to do in my case would be to pay Saab financial the remaining payments. The early termination is actually somewhat less than my payment x 5 months. This is because you save some money on interest and taxes.
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