- #156 of 653
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Re: 9-3 linear lease [kyfdx]
by roadrunner6
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Jul 04, 2005 (10:49 am)
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Replying to: kyfdx (Jul 04, 2005 8:40 am)
MSRP ; $29,770 (inlcudes $885 transport and prep fee). Is there any way to check what the residual set by the bank is? is the residual negotiable? Reading through this board, residuals seem to be different, even though lease terms etc. are the same. Thx-
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- #157 of 653
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Re: 9-3 linear lease [roadrunner6]
by kyfdx HOST
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Jul 04, 2005 (6:47 pm)
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Replying to: roadrunner6 (Jul 04, 2005 10:49 am)
I get about the same numbers that you do... If all of your numbers are correct.. You'll have first payment, security deposit, acquisition fee and title/license fees due at signing... Figure on $1600-$1700...
That is a pretty good deal for a $30K car.... I doubt you can lease anything else with that high of an MSRP for the same or less....
regards,
kyfdx
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- #158 of 653
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Zero down on lease?
by emtben
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Jul 07, 2005 (4:57 am)
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Replying to: kyfdx (Jul 04, 2005 6:47 pm)
I'm only a year into the ownership on my 2004 Jetta.... but looking at the discounts on the Saabs, it seems silly to not jump on the chance to own another Saab, for the same amount per month that I'm paying for a VW! I'm going to look at them today.
My question is, with the employee discount, can you bury negative equity into it? I'm only upside down by $900, and I'd really prefer to not put any cash into the deal. The $1600 or so upfront cash involved... can that be put into the payments?
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- #159 of 653
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Re: Zero down on lease? [emtben]
by kyfdx HOST
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Jul 07, 2005 (6:24 am)
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Replying to: emtben (Jul 07, 2005 4:57 am)
If you are really only $900 upside down, then sure... you can put that in the lease with no problem...
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- #160 of 653
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Re: Zero down on lease? [kyfdx]
by emtben
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Jul 07, 2005 (6:27 am)
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Replying to: kyfdx (Jul 07, 2005 6:24 am)
Including the upfront $? I know the amount due at signing includes the first payment, security deposit, etc.... can all of that be put into the lease, or do I have to pony it all up? I don't mind swinging the first payment, but the rest I'd rather not.
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- #161 of 653
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Re: Zero down on lease? [emtben]
by kyfdx HOST
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Jul 07, 2005 (6:41 am)
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Replying to: emtben (Jul 07, 2005 6:27 am)
They can put the acquisition fee into the cap cost, along with the $900 negative equity... They can waive the security deposit for a higher money factor, but that is a bad deal in the long run...
If your credit is good, rolling all of that into the cap cost won't be a problem, because the cap cost will still be well below the MSRP..
The key is going to be... will you really only be $900 upside down? Unless you made a big downpayment on your last lease, I'd be really surprised if that was the case..
But, you are looking at the car, and I'm not.... Good luck!
regards,
kyfdx
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- #162 of 653
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Re: Zero down on lease? [kyfdx]
by emtben
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Jul 07, 2005 (6:46 am)
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Replying to: kyfdx (Jul 07, 2005 6:41 am)
Yep, the last car was a purchase, with a low rate. I called and got my pay-info, and it was about $950 more than kbb.com booked the car out at trade-in value. The car is mint, zero wrong with it, since it's still so new. I feel weird getting rid of the Jetta so soon, since there's nothing wrong with it (other than it's underpowered, the 2.0, not a turbo or the V6).... Come on guys and gals, sell me on leasing the new Saab, money aside!!!
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- #163 of 653
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selling the lease
by dhanley
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Jul 07, 2005 (8:25 am)
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Well, you said it right there--it'll be a much nicer car than a 2.0 jetta. But i think kyfdx is right--you need to get a solid quote on what it will cost you to get out of the jetta. KBB trade-in won't tell you the whole story. However, what if you sell the jetta in a private sale, and use the proceeds to pay it off? What if you swap the lease?
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- #164 of 653
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Re: Made a deal today [fijaicairo]
by ktrue
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Jul 07, 2005 (12:43 pm)
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Replying to: fijaicairo (Jun 30, 2005 6:36 pm)
I was at a dealership in Southfield MI a few days ago and was trying to lease a 93 Linear. I asked the girl next to me, who had just leased a 93 Linear with manual trans w/ heated seats and metalic paint, how much her payment was going to be. She said $308 a month. That is the cheapest I have heard....and I have been to MANY dealerships. What I have noticed is that no matter how many incentives they give you, they are always quoting me around the same price....$340 - and up! It seems that they just increase the interest rates and lower the residual. I don't understand this. They say the bank is the one in control of these numbers. B/c when I ask them why the residual seems to be extremely low $13,000 for a 3 yr lease they tell me they can't change that number. Due to my research, this car should be worth at least $16-17,000 at the end of a 3 yr lease. Which means if you lease a $24,000 Linear I should only paying off around $8-9,000 over 3 yrs. Which should make the payment under $300 a month even with tax and intrest. It seems that they will always find a way to scam us! Plus with the new Ford and Chrysler discount....seems like they should want to give an ever better deal...especially since you can get a brand new Trail Blazer or Explorer for about $300 or less a month!
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- #165 of 653
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Re: Made a deal today [ktrue]
by kyfdx HOST
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Jul 07, 2005 (12:58 pm)
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Replying to: ktrue (Jul 07, 2005 12:43 pm)
1) The value they use for the residual is the wholesale value.. That is what they will get when they send that car off for auction at the end of three years... $13K sounds about right for a fairly stripped Linear..
2) Residuals drop every month.. The next model year is that much closer to coming out, and that affects the value of used cars... Remember, the residual value is a guess at what the used car will be worth at the end of the lease.. An '02 9-3 is worth less this month, than it was in March...
3) When you discount a new car by a large amount, it will naturally affect what it will be worth in three years.. If they are knocking 25% off the MSRP, then you can't expect a high residual percentage..
4) Cars that don't get discounted a lot have higher residuals (see BMW/Honda).. Cars with big discounts generally have low residuals (See Saab/Kia/Hyundai..any domestic brand).
In a nutshell... you are overestimating what the car will be worth in three years.. Saabs have terrible resale values.. And you can't go by the person next to you.. she might have put $2500 or more down on the lease...
regards,
kyfdx
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