Re: 9-3SS Lease Question (long) - Saab NG900 & OG9-3 Bulletin Board - Saabnet.com
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Re: 9-3SS Lease Question (long)
Posted by Ron H [Email] (more from Ron H) on Thu, 31 Oct 2002 00:43:36
In Reply to: 9-3SS Lease Question (long), Patrick, Wed, 30 Oct 2002 20:20:38
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IMO, never put down a large cap cost reduction on a lease-that's just money lost. If-for example, you wreck the car and insurance pays out-you're out of that $6500-7000 you wanted to put down on top of what you paid for your monthly note, and to top it off, have no car to show for it (as it is a lease, you don't own it). What you want to do is put as little down as possible on a lease.
If you want to put down that much money, you might as well buy-as that is about 25% down. At least you own the car and have something to show for that hefty sum for a downpayment.
Balloon is the way to go, if you can do it in your state. I had a balloon on my wife's '99 Accord EX, which we sold to get our '01 9-5 wagon (which is leased). The car is in your name, and there are some tax advantages (paying the tax upfront, for example).
I would have got a balloon on it but it is unavailable in my state (through SAAB Financial).
Big downpayment on a lease? Don't do it! My $0.02.
'01 9-5 LPT wagon w/15.2k miles
'94 900SET w/134.3k miles
posted by 68.11.3...
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