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It seems to me like you are correct, with the buyout being a bit higher than worthwhile. On the other hand, the $1800 in mileage is an ouch, but depending on what allaowance for mileage you negotiated, it still might be cheaper to take the hit. If you are buying it out for the $21.5K w/o the $1800 mileage hit, here are the black book numbers:
Condition Trade-In Value Retail Value
Extra Clean N/A $21,125
Clean $16,900 $19,850
Average $15,500 $17,775
Rough $11,245 $14,275
Depending on how clean / condition / history of your car, and the mileage payment, it might be worth keeping. These numbers don't add in the costs of registration, sales taxes, excise taxes, etc., but they do give you a ballpark. Keep in mind that these costs add up, and it may be worth something to have the history of the car. If you want something else, then just run!
However, the higher buyout $$ made for lower lease payments along the way. Personally, given that you don't have a strong attachment to the car, and that the depreciation loss now belongs to Saab & their insurance, I'd probably bail and get into something more for your money. You probably didn't overpay too much the first time, either.
When does your lease expire? If you are already over on miles, it might be worthwhile to flip it sooner than later to avoid accruing more miles. You might be able to negotiate some forgiveness in that way, too.
I'm curious as the the "idle" dollars comment. So what useful purpose have these dollars been put to instead? Because my cash flows can vary tremendously, I'm one of those anal types that puts the idle dollars into something designated and short term that I can pull out for the payoff when due. Never felt these "reserves" to be idle; just peace of mind.
posted by 151.199.16...
, Mon, 11 Aug 2003 12:21:18, Mon, 11 Aug 2003 12:30:58
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