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Contract provisions unalterable....... Posted by Mike Lynch [Email] (#81) [Profile/Gallery] (more from Mike Lynch) on Thu, 9 Jun 2005 19:11:56 In Reply to: Anyone ever negotiate terms of their lease?, Allan, Wed, 8 Jun 2005 12:09:43 Members do not see ads below this line. - Help Keep This Site Online - Signup |
You won't get Saab financial to allow alterations to their standard lease contract. You can fiddle with the terms until as much as you want.
As I understand it you want the residual to be the stated percentage for a lower payment, but you don't want to agree to that value for a purchase price at end of term. Nothing wrong with negotiating favorable terms, but you can't have it both ways. If you want it pre-ordained that the buy out should be less than the residual if that's the fair market value, but don't want to assume the liability for that, you can't do both. If the residual/buyout is not fixed it becomes an open ended lease instead of a closed one and tax regulations don't allow the sales tax treatment by the month for open ended leases.
If you don't think the residual is right, you can always go lower, that is you can lower the residual/buy out. Lowering the residual or buy out will also give you more miles and raise your payment.
Residaul/buy outs are good faith estimates, but nobody has a crystal ball. True market value is an ambiguous term, which market, wholesale or retail? I've never seen a residual buyout that wasn't a fair retail value. Some are indeed somewhat higher than wholesale, but always fair by retail standards. If you don't feel that way when it comes along you have the option not to purchase. That's one of the good things about a lease.
If you negotiate your buyout more than 60 days/two payments in advance of termination there seems to be a window that has access to a fund for much lower buyouts, but as it gets withing 60 days of termination, that window closes. Dunno' why, just a pattern I've recognized. Folks call 90 days out and get a steal on the car and then that offer is withdrawn at about the 60 day mark.
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