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Early termination, Saab leases still great!..... Posted by Mike Lynch [Email] (#81) [Profile/Gallery] (more from Mike Lynch) on Sun, 8 Dec 2002 20:58:44 In Reply to: Lease Buyout Prices, Ted Marshall, Sun, 8 Dec 2002 15:50:14 Members do not see ads below this line. - Help Keep This Site Online - Signup |
During the last 12 months of the lease, Saab Financial, I believe, will quote an early termination. That number will be somewhat less than the total of the remaining payments as there will be an interest savings. This assumes you are withing your original total mileage allotment as is independant of any excess wear and tear. This early termination charge is USUALLY significantly less than the difference between the total payoff and the actual trade in value. In the past Saab has offered an "early out" program, but that only forgave the last 3 payments. There is no such program currently.
Up front costs on a Saab lease are purely optional. Lately Saab is quoting all their leases with $3,500 down, but that's only to make a price/payment point. With the cheap moneyfactors that's somewhat counter productive. Why buy down a payment when the rates are so cheap, typically 1-2%?
Generally the dealer has nothing to do with a lease after it is booked or paid by the lease company. Ford is an exception. Ford tries to retain your business by referring all lease termination quotes to the original dealer. But in 2001 you are probably with Saab Financial, structured along GMAC guidlines, but with unique Saab rates and residuals. Bargaining with SFSC at the end of the lease for the purchase of your car depends on whether or not SFSC purchased the residual insurance in which case they won't bargain, or the market value of the cars vs the residuals at the time of termination, get out your crystal ball.
And Saab still offers great leases. $399 with $3,500 down on a $41,095 convertible, that's fabulous mathematically.
posted by 207.158.49...
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