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To davec about lease buyouts
Posted by phred (more from phred) on Mon, 16 Sep 2002 13:34:48
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Sorry, just getting caught up from the weekend. Yes definitely, the buyout price is NOT set in stone, your leasor just wants you to think it is. With all the cars coming off lease these days, most residuals are just too high because frankly they were a semi-educated guess made three or four years ago. Recent articles in USA Today and WSJ suggest that you are really blowing it if you don't see how low they will go.
I went through this recently with Chase at the end of my Audi lease and I had barely started my pitch when they dropped the price $2K and gave me a preferred interest rate on a loan. I'm sure there was another $1 or 2K of negotiating room left, plus I could have wrangled an extended warranty. Instead of taking advantage of Chase, however, I took advantage of Saab USA!
If you think you want to keep your car, work on them. Just get a warranty! And be sure to cross-shop a new '02 or '03, I think when you run the monthly numbers you'll find that you're way ahead with the new car.
posted by 216.205.22...
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