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Prices Paid: Buying & Leasing Experiences Pontiac G6 Lease Questions
95 messages, Last post on Jul 16, 2009 at 11:38 AM
You are in the Prices Paid: Buying & Leasing Experiences Forum. Your Hosts are car_man & kyfdx
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Replying to: revord (Jan 22, 2009 3:42 pm) Your best option now would be to get your pay off, then go to a dealer to get your trade in value. Do realize that your Kelly Blue book amount will be a bit higher than what most dealers will give you. Don't be surprised. Try multiple dealers to get your average trade in values. Then go from there. I would not go in too deep with details about your car when trying to trading it in, though I would hate to be someone buying your car off the lot with the apparent problems it has. It will hurt your trade value. Yes, you can get out of a lease, but there are several steps for you to make. People trade all the time, but rolling negative equity into a new deal is not advisable, so if that is the case, I would wait until your lease is over. Being an 06, you have to be close. By the way, mileage will kill any positive equity, I would start investigating all options now. How close are you? If you are close enough, I would start looking to get out, but just be smart in the whole deal, though your car has issues and is over mileage already. Good Luck! |
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Replying to: revord (Jan 22, 2009 3:42 pm) If you would have leased the car for 3 years/36,000 miles, your car would be under warranty and you wouldn't be having all this drama. I'm guessing the trade in value on a G6 is about nothing and you still owe $3,000 plus 15-20 cents per mile that you are over the contractually allowed mileage. In summary, you are between a rock and a harder rock and another rock just smacked you in the skull.
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Replying to: chuck68516 (Jan 28, 2009 8:28 pm) Explore all options.
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Replying to: bvdj84 (Jan 29, 2009 10:41 am)
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Replying to: stoopy (Jan 29, 2009 8:37 pm) Even a new 08-09 G6 has an insane depreciation rate. With falling company values, Its better to buy used rather than new, otherwise you are so upside down, you will not be equal or level until pay off or the end of the lease. Your best bet now, move away from GM. Turn your car in, and look elsewhere. I am just upset now that I am supporting GM. Maybe if people stop buying them, perhaps they'll get the picture. I will not be back to GM after my current 08 G6 lease. I am looking at the new TSX, Accord, Jetta. Deals are to be had. |
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My boyfriend currently has a Smart lease on his G6. He's owned the vehicle for 2 years and has two more to go. He said that with the lease he is required to keep full coverage on his vehicle, but he is tired of paying for it and doesn't see a need to. My question is, can he (legally) just have liability insurance on his vehicle? If not, will Pontiac be able to find out about it? Also, if he wrecks or totals his vehicle and it's his fault, what are the repercussions? Sorry if this sounds like a crazy question; I just suggested he keeps full coverage. 
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Replying to: emilystl04 (Mar 01, 2009 3:32 pm) Yes, if he cancels, the bank will be notified... At that point, they will obtain coverage in his name, and bill him for it (and, that won't be cheap). If he wrecks or totals the vehicle without coverage, then he will have fix it on his own dime.. This might be the worst idea, ever.. 
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Replying to: kyfdx (Mar 02, 2009 4:13 am)
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Carman, What happens to my lease or warranty work that needs to happen on my 2007 Pontiac G6 if Pontiac is cut? I have till Aug 2011 before the lease is up. What would I do if they cut the service and dealership?
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oddly enough, i also have a 2007 G6 with a smart lease that is up in August 2011. weird, huh? but i too am wondering what the heck happens then. will they take my car back? will it be horribly devalued? should i trade it in early or will they offer an early buy-out of the lease? i am really upset as I'm a loyal pontiac owner for many years and my dad and i are loyal GM people our whole lives and now don't know what to do. what about my husband's Vibe that he bought in 08? will that value go down, or will it be seen as collectible? i am freaking out because i can't afford any new cars for a while after losing a job, etc. is there a best course of action here other than wait-and-see?
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