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NG900 & OG93 Bulletin Board
1994-2002 [Subscribe to Daily Digest]
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Purchase price at end of lease (Long)
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Posted by PaulD [Email] (more from PaulD) on Tue, 5 Mar 2002 12:57:44 Share Post by Email
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I just got one of those letters from Saab reminding me that my lease was up in July of this year on my 1999 9-3 SE.

I called them to see what type of price they had in mind for me to purchase the car. My buyout is just over $18,000, which I explained to them was much higher than I would pay for the car. After all I could go to a dealer and buy a used 1999 one off the lot for less, or I could buy one from the Saab Classified here on the board.

The first thing I was informed of is that Saab is no longer providing financing on the purchase of their cars coming off lease and that I would need to get a loan myself. I’m assuming that would be in the 8-8.5 % range. If you run the numbers on a three-year loan at 8.5% and if you want your payments to be about $350 you would pay no more than 11,000 for the car. I informed them their own web site was offering a $269/mo lease with money down and if you put no money down that price would be around 350.00.

Now I know I’m comparing leasing to buying but to me it is all about cash flow and in my estimation at the end of another three years a 1999 9-3 is not going to be worth much.

So I asked Saab’s rep why would I pay $350/month for a car that was soon to be out of warranty, would need new tires by the end of the year and was soon to become an old model once the new 9-3 (or 9-4, whatever they are calling it) came out. I said that I really was not ready to make a decision anyway until I saw the new model but even with the new model aside that a new 02 sounded like a much better deal, but I might be willing to consider something in the $11,000 range.

The rep said they could not get close to $11,000 and indicated something in the $15,000 range. Run the 15K at 8.5% over 3 years and you get $473/mo. Now at those types of payments you could BUY a new 02.

So I told the rep that I was going to wait until the new model came out and see what happened to the prices of the 99’s. I mentioned the fact that they certainly were not going to be going up in price and that when the flood of 99’s coming off lease hit the market that wouldn’t help either. I was waiting for him to come off the $15,000 but he didn’t.

Sorry to be so long with this but my point is that the car, as much as I like it, is a commodity in my eyes and with the current deals out there it makes no sense to pay too much for a three year old car.

Regards,

PaulD

2002 9-5 Aero
1999 9-3 SE until July :-)


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