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Re: End of Lease Advise
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Posted by EJH (more from EJH) on Fri, 6 Jan 2006 09:28:27 Share Post by Email
In Reply to: End of Lease Advise, jerry, Thu, 5 Jan 2006 14:01:24
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Call the bank or leaseor 1-2 months before the lease is up, ask for a suoperviser. tell him/her that you have less than the stated amount of mileage you are allowed per the lease agreement. You have not made up your mind yet to turn it in or to keep it. Also inform them that there are several cases of used saabs in simular conditions and mileage that you have seen for $9500 to 11,000. Ask if they're flexible on the buy out- if the answer is no- say thats too bad because I would have financed the buy out through your bank-your forcing me to turn in the car to you , and for you to sell the car at less than I'm willing to pay for it. And you will lose my loan business. Wait for silence on the other end of the phone..... Repeat in greater detail -used car price you have seen, bank auctioning it off at a loss, willing to finance your loan thru them etc etc. still no- ask for the supervisors boss and repeat Don't back down.

My lease came up on my 9-3, I was 40000 over the milage (36K) allowable- they did not know this, nor did I state the truth on this. I had signed for a 16,200 buyout at the begining. I eventually bought the car for 10,200 and financed it thru them a 2.5% for another 3 years. I had a previous 0% financing deal for 39 MONTHS. It had since been paid off. Banks don't like tangibles like cars- they like property as in land and real estate & Cash. They hate cars- expecially ones like saabs- We're not talking a honda minivan or a toyota avalon. We're taking a querky car with somewhat limited appeal and sharp depreciation. Everything can be bargained today.

By the way I really liked my car, if you don't really like yours ignore what I just wrote and proceed with Mike Lynch's advice.
Good luck.

posted by 24.198.182...

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