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Date: Sat, 11 Sep 1999 08:49:19 -0400
From: "Norman L. Kleinberg" <nlkleinbergnopsamhlink.net>
Subject: Re: 1999 9-3 Lease question


Hi Ken and others in this thread; First, I should have said in my post that I may have screwed up Bill Glassgall's comments, so any errors are my fault<g>. Now, as to residual value: I am no lease expert, and only know the little I've read so far: however, my info clearly states that in open-end leases it is possible that the contract specifies a residual value. If the car can't be sold for that residual value then the less(ee?);i.e. the gal who leases the car, is responsible for the difference. There is the caveat, however, that a Federal law prohibits this liability from exceeding the total of three lease payments. Of course, if the gal who leases decides to buy the car for the residual value, that's OK. But sort of defeats the purpose, no?<g>. Again, thanks to all in the group for helping me out as well. =NLK= Kenneth H. Yoon wrote in message ... >I don't understand. If the actual market value of the car at lease-end >doesn't equal or exceed the vehicle's residual value, then the lessee needs >to make up the difference? > >This doesn't seem to make any sense, except as a good way for GM/SAAB to get >itself sued in a huge class-action. > > >>>snip > > >

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