Date: 5 Dec 1997 18:14:32 GMT From: bentleynopsamss5.digex.net (Bentley) Subject: Re: residual value...?
Raja Abusharr wrote: : > I am thinking about a '97 900 SE Turbo 5spd and wonder if anyone knows : > what typical 36-month lease residual value percentages come out to be. : > Best-selling and reselling Honda Accords and Toyota Camrys are in the : > mid to low 60% RV for 36 mo. leasing. : > I suspect the Saab 900 is way below that but I wonder if anyone has had : > any actual experience leasing. I leased my 96 900S. Couple of pointers: The residual "Bible" for all cars is the ALG, a little booklet published every month that is used by virtually all banks and credit unions. You can buy a copy directly from the publisher for $12 or so, or, more efficiently, buy the latest Kipplinger's magazine, with the automotive guide in it. It quotes 24 and 36-month residuals for just about every car sold in the US (but not 36 mo, unfortunately). You can get a few residuals per month at http://www.leasesource.com/, but since you're interested in a specific model, this might be the way to go. (I just looked it up -- hey I'm a helpful kind of guy -- it's .50 for 36 months, .59 for 24 mo, and .43 for 48 mo. That's about average). Now, all this being said, it's unlikely that you'll lease through your bank. A Lexus or an SUV or some other vehicle with an insanely high residual, maybe, but not a Saab. Most carmakers boost the residual of a model to make it more attactive. This is known as "subventing." For instance, the ALG said my 96 900S would be worth 50% of MSRP after three years, but Chase, the financial partner Saab USA was using at the time, bumped it up to 58% (from memory, don't have the paperwork in front of me). They also sweetened the pot with a very low money factor, which is pretty much the APR on which your depreciation will be calculated. In this case, it was about 1.9%, which is VERY low. This all assumes that there is a national program for Saabs right now. So... a quick look at www.intellichoice.com, unfortunately, doesn't show one. When I decided to lease, I narrowed my choices down to a few cars, and waited until a killer lease deal arose from the contenders. The Saab happened to be the first one that did (I see on Intellichoice that Volvo has a deal going right now). Anyway, good luck, read up on the background information, wait for a good deal, and don't let the salesman snow you. Walk in informed, with knowledge of a national program, and they generally drop the BS and start treting you like a person. -- > B E N T L E Y < bentleynopsamss.digex.netnopsamrpromo.com [remove nopsamrpromo.com for correspondence]
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