Last post on Jan 21, 2010 at 4:12 AM
You are in the Saturn Outlook
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Saturn Outlook, Car Leasing, Car Buying, SUV
#175 of 176 Buy out on an Outlook Lease
Dec 30, 2009 (9:39 am)
I have a leased Outlook that ends in 10/2010. Can or will the buy-out value change in light of what has happened to Saturn? I have gone over my mileage and always expected to buy the car at the end of the lease but in light of recent developments, I would not do that unless the price was right. Any predictions on what may happen? Thanks in advance for your help!
#176 of 176 Re: Buy out on an Outlook Lease [westendgirl1]
by Car_man HOST
Jan 21, 2010 (4:12 am)
Hi westendgirl1. It is very likely that the real-world value of your Outlook today is no where near its official end-of-term purchase option price. It's difficult to say whether the bank that you are leasing your Saturn through, likely GMAC, will be willing to work with you on its price. The best way to find out is to give them a call directly. Some banks will negotiate the lease-end purchase prices of vehicles. If your initial contact at your bank is not willing to lower your vehicle's purchase price, you may have better luck if you work your way up the ladder to a manager. There is a good chance that they will not lower your vehicle's price, more often than not they will not, but you don't have anything to lose by asking.
Once you know exactly how much money it is going to cost you to buy your leased vehicle you need to compare it to its current value on the open market. You can find out approximately what your vehicle is worth by looking up its Edmunds.com True Market Value in the Used Vehicle Pricing section of this site. You also may want to stop by the following discussion: sysop, "Real-World Trade-In Values" #, 14 Dec 2000 10:07 pm.
If your vehicle's purchase price is less than or similar to its current value on the open market then you may want to consider buying it. If not, walk away.
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