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Re: So how does this affect used car values? +
Posted by chris74 [Email] (more from chris74) on Wed, 28 May 2003 15:53:55
In Reply to: So how does this affect used car values? +, Noel, Wed, 28 May 2003 13:21:56
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as an example..
we had a 99 Passat GLX whose lease was due up after 3 years.
we fully intended to purchase the car after the lease was up. Twas a wonderful automobile.
But... six months before the lease was up, that model was selling for anywhere (after 2 1/2 years, remember) for around 22K dollars. Our buyout was 17. Seemed like a good deal for a car we knew. Suddenly, all of the 3 year leases on 98 Passats (first year) and some 99's (subsequent year) hit the market. Around 70% of al Passats from 98 and 99 were leases, BTW. Our retail value dropped from 22K to 17K and it no longer seemed like a deal.
hence, we got the 9-5, and later the 9-3SS.
posted by 68.37.19...
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