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Prices Paid: Buying & Leasing Experiences Saab 9-3 Lease Questions
546 messages, Last post on Sep 15, 2009 at 10:35 AM
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Hi, I was hoping I could ask you some questions about a deal that I’m about to make on a new 2008 Saab 9-3 2.0T sedan. Thanks in advance for your help! Here are the details: -39 month lease -10,000 miles per year -Jet Black Metallic Paint -Automatic Transmission -Premium Package -Moonroof -Cold Weather Package Dealer quoted MSRP: 33,730 (verified on Edmunds.com). Residual value of $20,238 (60% of 33,730) Negotiated Price: $31,674 (includes $500 customer-cash rebate) Question #1: The Dealer is telling me that he’s giving me this car for $400 less than invoice. I don’t believe this is true, since the Invoice on Edmunds.com is $31,839 w/o the $500 customer-cash rebate, $31,339 with it. Which of these is the true Invoice Price? On the one hand, I don’t believe I’m necessarily getting hosed, but on the other hand, I don’t think I’m getting this great deal either—II believe I’m getting the car for about what it’s worth. Question #2: When I look at the invoice that the Dealer faxed me, it appears that he’s giving me the invoice price for each option. However, the price of $31,674 also includes a $745 Destination Charge (verified on Edmunds.com), $329.85 Dealer Contribution, and $329.85 Group Contribution. Are these latter two charges excessive? Should I ask to have them removed, hence lowering my Cap Cost? Question #3: I’m putting $2912 down. This includes the first monthly payment of $388 + 695 Bank Fee,+ $400 Security Deposit + $12.50 NY State tire recycling fee + $1311 NY State Sales Tax (at a rate of 8.375%) + $45 “Dealer’s Optional Fee For Processing Application For Registration And/Or Certificate of Title, And For Securing Special Or Distinctive Plates if Applicable” + $10 NY State Inspection + $50 Fuel. The Dealer indicated that the $400 Security Deposit is refunded at the conclusion of the lease and couldn’t be waived because I’m a new Saab Customer, and that the $695 Bank Fee could not be waived. Do any of these other charges seem excessive or qualify as unnecessary dealer’s fees? Question #4: I left a $500 deposit, so I’ll be giving the Dealer the $2412 balance on Saturday. He informed me that I needed to give him a Bank or Certified Check. Is this typical? Question #5: The Dealer indicated that I would have to also pay $140 for new license plates for 2 years. Doesn’t this seem a bit high? Question #6: I noticed on Edmunds.com that there is $2500 Manufacturer Cash to Dealer Marketing Support. It says that Dealer Participation may vary. I asked the Dealer if there were additional incentives beyond the $500 Customer-Cash, such as marketing support, and he said that there weren’t. Again, is there something he’s not telling me? Should I push back on this? Question #7: Overall, what do you think of this deal? Thanks so much!!! |
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1)edmunds.com is accurate only up to a point regarding invoices(see answer 2) 2)the dealer ad group charges are a part of the price of the car ...the dealer does not recoup them."Removing them" is no different than him lowering his selling price by $659.00. 3)The dealer charging you $50.00 for putting fuel in the car is total B.S.! A full tank of fuel at delivery is a Saab dedicated delivery procedure requirement and the dealer is reimbursed  a market value per /gallon amount.The bank fee is accurate and is charged by G.M.A.C.,and is not waiveable by the dealer.Bank Fees are charged by ALL Saabs competitors.At $695.00 the fee is one of the lowest(check BMW'S and M-B'S lease ads for example). The rest of the charges are set or capped by N.Y. State and out of the dealers control. 4)How funds are collected is just a matter of policy.Your questions regarding validity of most charges and the legitmacy of the invoice may have him concerned about accepting a personal check for the balance. 5)Another charge set by your state. 6)The $2,500 is for a cash transaction or a conventional finance package in lieu of a promotional interest rate.It's one from column A,or B,or C.No "combo platters" allowed. 7)Do you only go to see movies after you read the reviews?
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Replying to: chazbug (Dec 14, 2007 4:08 am)
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Replying to: saablcp (Dec 14, 2007 9:06 am) |
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Replying to: bluebird23 (Dec 14, 2007 10:41 am) |
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Replying to: drfnw (Dec 10, 2007 3:38 am) |
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Replying to: chazbug (Dec 14, 2007 4:08 am) MSRP: 33730 Sales Price: 31764 Residual : 60% Money Factor: .0018125 Effective APR: 4.35% Term: 39 Residual: 20238 Depreciation: 11526 Monthly Depreciation: 295.54 Monthly Finance Fee: 94.25 Total Monthly Payment: 389.79 Now here is what you need to do to improve this deal 1) Saab's lease acquisition fee is $595. They are marking it up $100 on you. Tell them you know it's $595, and that is what you expect to pay. 2) The security deposit is BS. I believe this buys the interest rate down, but the rate is 4.35 without the deposit, so they are making more money because of this. I would negotiate this out. 3) Like the other poster stated, the gas fee is BS. The $45 dollar dealer fee also sounds like BS. It's called added dealer profit, and I would negotiate it out. So you should be able to negotiate a down payment of $2316 = $388 + 595 Bank Fee,+$12.50 NY State tire recycling fee + $1311 NY State Sales Tax (at a rate of 8.375%) + $10 NY State Inspection They probably will balk at this, but if you threaten to walk, or tell them you got a better deal elsewhere, they will likely come around. Good luck. I just leased one myself. It was a painwith all the games they tried to play. I had to walk out of the finance office twice when signing the papers because they tried to sneak extra fee's in there. So keep on your toes. p.s. That sucks that NY makes you pay the tax up front. One of the big advantages of leasing for me is you only pay tax on the monthly payment, so your only paying on the depreciation, not the full value of the car.
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Replying to: bluebird23 (Dec 14, 2007 3:26 pm) charges.It's only within the last two years or so that you are again able to lease a car in those states.Liability issues being worked out in the judicial system completely eliminated closed end leasing in those states for a couple of years,you could only do a Balloon note.So forget the idea that it's a dealer mark-up and a negotiable item. The rate is currently based at 4.35% and you have to have Saab lease loyalty or owner loyalty eligibility for an automatic waiver of security deposit otherwise the rate DOES have to be marked up .50%. You honestly think this guy should make an issue over a $45.00 fee paperwork processing fee?How long did it take you to work out the paperwork and fees on your home mortgage!!??...Good Grief!
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Replying to: saablcp (Dec 15, 2007 7:48 am) Also in NY I don't think they charge sales tax on the doc fee so that helps too. |
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Thanks to all who provided such great information in December. I am looking to lease a 9-3 2.0T with the Premium Pkg + Moonroof, AT, etc. Dealer quoted $423 per month for 27 months at 12,000 per year. based on earlier discussion of Residual Value for 27 months at 69% and MF at 4.35%, this lease amount seems high. Does anyone have recent experience to share. Thanks
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