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Re: roll into another lease...or not?
Posted by John N. (more from John N.) on Fri, 1 Jun 2001 22:15:22
In Reply to: roll into another lease...or not?, eric, Fri, 1 Jun 2001 16:26:37
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I don't know where you live, but I'd bet money your several grand in the hole if you try and trade your 9-3. I am halfway through the lease on my 2000 9-3SE (auto with 17K miles). I went to a DC area Saab dealership to look at the 9-5. The most they would give me for my car is $20,500. My payoff is $22,700. With $1900 down, the payment on the 9-5 (4-cyl, auto) is $547/month (36month lease, 12k/year). (This includes the 10% D.C. use tax.)
They can make the $2,000 negative equity look transparent. They just don't discount the new 9-5 as much.
I'm not crazy about my 9-3, but I'm not sure I want to eat $2,000.
I recommend you check around and see what your car is worth in trade. You could also go to CarMax and get it appraised. That's probably my next step.
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