Re: More lease return data...re: residual insurance - Saab 9-5 Bulletin Board - Saabnet.com
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Re: More lease return data...re: residual insurance
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Posted by pursang (more from pursang) on Fri, 11 Apr 2003 10:00:03 Share Post by Email
In Reply to: More lease return data...re: residual insurance, JHKC, Thu, 10 Apr 2003 23:50:02
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The lease was predicated on having a $21,000 asset +/- at the end of its term. If the market is only $16,000, someone takes a loss, either the finance company or its insurance company, or the guy who leased the car if he buys it (why buy a $16,000 asset for $21,000?).

A lot of the drop in used car values is due to the 0% financing on new cars, making them the easier choice for most people as the monthly payments are lower. The used car market is more fragmented and financing a used car still reflects the reality of a lender's risk/reward analysis. Used car financing does not enjoy these big 0% financing programs which are designed to keep the factories running. All of the lease returns are just agravating the problem.

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