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Saturn Aura Prices Paid and Buying Experience

71 messages,  Last post on Sep 03, 2008 at 7:57 PM

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What is this discussion about? Saturn Aura, Car Leasing, Car Buying

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#11 of 71 Re: lease rates [ricardohead] by trauppius Nov 13, 2006 (4:52 am)
Replying to: ricardohead (Nov 07, 2006 2:52 pm) I just leased a new Aura XR for 24 months 12K/year. I liked the car quite a bit and was considering buying it outright at the 4.9% GMAC subsidized interest rate. The problem with this scheme is the (to date) higher than Accord, Camry, Nissan depreciation that Saturns are burdened with. I was afraid that 2-3 years into my purchase I might get bored and want to trade it in for a newer make/model. That relatively higher Saturn depreciation would then have left me at a disadvantage in trade-in time.   But lo and behold, GM and GMAC came to the rescue! In order to help launch the new Aura GM is foregoing (on Auras) the upcoming January price increase and also offering some attractive lease terms. The 24 months/12K lease is being offered with a residual of 0.68 (Camry/Accord are typically 0.68 to 0.72), and with "lease or money factor" that is equivalent to 5.25% APR. They high residual means the monthly depreciation, which you retire with your lease payments, is much, much better than the 0.50-0.55 that commercial leasing companies are offering on the Aura. The nice part of this for me is that I can walk away unencumbered in 24 months, and without having to worry about Saturn depreciation trends. Love the car, but don't like the Saturn depreciation track record. I hope this will improve over time as Saturn turns out more desirable and better products.   P.S. The new 100K miles warranty should also help. Replies to this message: haskell1 (Nov 13, 2006 9:44 am) trauppius (Nov 13, 2006 11:27 am)
#12 of 71 Re: lease rates [trauppius] by haskell1 Nov 13, 2006 (9:44 am)
Replying to: trauppius (Nov 13, 2006 4:52 am) so how did your monthly payment shake out? I'm trying to compare apples to apples, as my quote was for zero down. i would prefer a 24 or 27 month lease.. Replies to this message: trauppius (Nov 13, 2006 11:27 am)
#13 of 71 Re: lease rates [haskell1] by trauppius Nov 13, 2006 (11:27 am)
Replying to: haskell1 (Nov 13, 2006 9:44 am) I don't have the paperwork in front of me but I recall the MSRP being $27,019 less supplier discount yielding ~$25,700. Then add a $595 lease acquisition fee plus registration/plates fees to the capitalized costs. In my case it was $23.50 down/cap cost reduction (don't ask me to explain) that yielded a payment of approximately $353 covering monthly depreciation and the leasing fee. In Pennsylvania they also collect 6% for sales tax on the amount depreciated plus a 3% tax on car leases. The lease residual in slightly over $18,000; good luck to GM on reselling a two year old Saturn for this high an amount, but hey, that's their problem not mine.
#14 of 71 Re: lease rates by looking4lease Nov 14, 2006 (5:33 pm)
Hi. Can you tell me where you found this new 24 mo.lease deal? I would not get the supplier discount on the price but still would like to lease this car (XR). When I go to Saturn.com or to GMAC, all I see is the 39 month lease which is not a good value. Other cars I am looking at are: Ford Fusion/Milan; Mazda 6; Suburu Legacy; I prefer 24month leasing so I can stay in warranty. Let me know how you got this lease. Thanks, Replies to this message: trauppius (Nov 15, 2006 4:32 am) trauppius (Nov 15, 2006 6:25 am)
#15 of 71 Re: lease rates [looking4lease] by trauppius Nov 15, 2006 (4:32 am)
Replying to: looking4lease (Nov 14, 2006 5:33 pm) Pleased to help. Just go the GMACFS.com website and select the personal finance, automobile, leasing, and then payment calculator tool. Enter your zip code, select the year, make, model and trim and the calculator will first respond with the default capitalized cost and 36 month/15K lease term. You can then modify these to the price your have in mind, and a various lease durations and miles per year.   In any event your dealer can work this out with in a few minutes with their online connection to GMAC. Also keep in mind that although the MSRP for Saturn's are fixed (excepting employee/supplier discounts, of course) the dealers ARE FLEXIBLE in adding supplemental inducements to by the car at their dealership. These perquisites are exempt from GM pricing rules; in my case I got the following thrown into the deal: 1) annual state safety and emission inspections for as long as own the car, 2) free standard maintenance for 3/yr 36/K miles, and 3) and a full tank of gas. GM already includes 3 months of paid XM radio and 1 year paid OnStar service + 130 calling minutes good for one year for just $18 bucks.   Here is the GMAC link: link title
#16 of 71 Re: lease rates [looking4lease] by trauppius Nov 15, 2006 (6:25 am)
Replying to: looking4lease (Nov 14, 2006 5:33 pm) One more thing I forgot in my prior reply. The lease quote I got from sitting down with the Saturn dealer finance guy was about $60/month lower than what the GMACFS online calculator shows. He explained this as a consequence of regional differences in what is/can be included in the capitalized costs and up-to-the-minute changes in the residuals and cost of money. I was pleasantly surprised to find my actual lease was less expensive that what the planner indicated.
#17 of 71 Re: lease rates by looking4lease Nov 15, 2006 (7:17 am)
Thanks for the info. This explains why the GMAC calculator gave me a higher rate. When I worked up the lease I wanted similar to yours, it came up at over 550.00 per month. Whoa. So, I will take this to Saturn and see what they can offer. I have gone to the local Saturn dealer here in Jacksonville FL and they were not what I recalled from my experience years ago. I will try it. Thank you
#18 of 71 Re: lease rates by looking4lease Nov 15, 2006 (5:39 pm)
Hello trauppius. Thanks for the data. One thing, I did not ask you about and that was what money down you had on this deal. I heard back from my local Saturn dealer and they are quoting me the following: MSRP $26,195.; fee of 159.50; tax 31.53; 641.51 down, and a montly payment of 481.98. How does this look to you? I can put more down as most other leases I am looking at(such as Mazda 6 and Subaru Legacy) require approx. 2500. down. What do you think? Car man, feel free to add your comments as well. Anyone for that matter. Thank you all. Replies to this message: trauppius (Nov 16, 2006 4:27 am)
#19 of 71 Re: lease rates by looking4lease Nov 15, 2006 (5:40 pm)
Oh, just to confirm, this is a 24 month lease 12,500 miles/yr. I will most likely add miles but I can account for that difference.
#20 of 71 Re: lease rates [looking4lease] by trauppius Nov 16, 2006 (4:27 am)
Replying to: looking4lease (Nov 15, 2006 5:39 pm) This does not seem like as good a deal as I got. I paid out $615 when I picked the car up and the breakdown was $404 for the 1st month lease payment (which includes the 9% Pennsylvania sales and lease taxes), plus $110 for DMV fees and title registration, plus a few dealership back-office fees related to registration and title conveyance. Just the remaining $23.50 of my $615 was applied as a down payment (i.e. capitalized cost reduction). No security deposit and a lease acquisition fee of $595 that was rolled-up into the capitalized cost.   I have tier one credit and qualify for the most favorable terms, this ia potential area of difference. Also, I was never quite able to figure how they arrived at a 24/12K residual $18,322 that seems to work out(18322/(595+25700) to 0.70 (70%) rather than the .68 (which is still good) in the GMAC online estimator.   Bottom line is that my total cap cost (25700+595), with just $23.50 down, has yielded an all up monthly lease of $404, including taxes. It always seems like it is hard to shop and compare leases, but based on your info I would keep asking questions and probing for a better financing package; or at the very least a complete disclosure.   Good luck and keep in mind that it is a very nice car.

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