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Well I did it. After waiting more than 6 months since my first Aero test drive, watching "limited time offers" get better and better, setting aside cash, weighing a lot of considerations and almost scrapping the whole idea and going for a certified pre-owned '98 BMW 528i, I today have a tentative agreement for a 2001 9-5 Aero.
Thanks to 2Slow for some essential information. I talked to his dealer in Michigan and was offered a very attractive deal under the GM employee discount program and the current lease incentive was heaped on top of that. Prior to hearing about 2Slow's deal, my dealer (B&B Saab in Santa Clara, CA) never mentioned any lease incentives applicable to an Aero. So I have agreed, over the phone, to lease a 9-5 Aero with silver metallic paint and heated seats for a total of $2,000 down and $479 per month. Seems like too sweet a deal to pass up for the finesse, refinement and power of an Aero. I still feel the BMW handles much better at high speeds but then I can count about 20 5 series BMWs out here in CA on any given day. Saab 9-5s don't pop up much. Besides, I can always go for a six speed manual 540i someday down the line if I make partner!
Anyway they have it set up based on a residual value of $20,897.50. Is this reasonable? I hope they didn't claim to give me a lease incentive of $3,000 but instead just raise the residual by nearly that amount. I put a grand down to have a particular car shipped up from southern California but if I want to be sure the offer is as sweet as it seems before signing the deal. What sort of residuals have others agreed upon for Aero leases?
Given that the car retails for over $41,000 and I got $7,000 off that price (ostensibly) with all of the discounts, I feel like I am making out well here. Before I asked about lease incentives the best offer I got from the same dealership was $4,800 down and $500 per month, even under the GM employee/affiliate program. If anyone feels I may have overlooked something that would cast a shadow over all of this I'd love to hear about it.
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