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Go to a Saab dealer and tell them you want to buy your car off lease. They will contact GMAC and THEY will get a far better price than you can. GMAC can't sell YOU the car for less than the lease buyout because they are bound by that lease for tax purposes and because they have residual insurance which means that if the car is sold at auction or to a third party (one of their dealers) for fair market value (the $14,500 or $12,000 or whatever), the insurance company will pay them the difference between the lease buyout price and the fair market price. The insurance won't pay if they sell to you. (The inability to get residual insurance back in late 2008 is what caused GMAC to stop leasing Saabs at that point and killed 75% of the US Saab new car market since then.)
Once you go to the Saab dealer, they will get a lower price from GMAC and you can negotiate with them for a fair market value price. By doing it this way, you can even buy your car as a CPO. Here's the deal we worked on our '07 convertible back in November (a week before the Koenigsegg deal died):
'07 Convertible auto, premium package, 16,000 miles: Lease buyout price $32,300.00. Negotiated with three dealers. Bought the car for $22,500 as a CPO which gives us almost another 4 years of warranty. Probably could have gone down another $500.00 or so, but we were happy enough with the deal. Dealer asking price for similar cars on the lot at time was $25,000 - $26,000.
One of the dealers we negotiated with actually cold called us because he had a list of pending lease returns. He started at $26,800 and went down the next day to $22,800. We ended up making the deal with another dealer that we simply liked better.
Since there are virtually no new Saabs around for the dealers to sell at this point, they are desparate for used car deals. A "flip" of a lease return is a quick way for them to make a little cash. The car doesn't even have to stay in their inventory costing them interest.
If you want your car, you can get it. Just start calling your closest dealers.
posted by 64.12.11...
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