Re: Lease spreadsheet update - Saab 9-5 Bulletin Board - Saabnet.com
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Re: Lease spreadsheet update
Posted by Marc (more from Marc) on Sun, 3 Jun 2001 11:50:42
In Reply to: Re: Lease spreadsheet update, David G. Mills, Sun, 3 Jun 2001 09:47:42
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Now I see what you're saying. You're correct -- in comparing the total cost of leasing-then-buying to the total cost of just buying, the spreadsheet assumes payment in full (cash; no financing) both at lease end (on residual value) and up front in the case of an outright purchase. These were the scenarios I wanted to compare when I created the spreadsheet in the first place (when I was deciding whether to lease or buy).
As for whether you can, at lease end, negotiate a purchase price that's lower than residual value, I have also heard success stories. Let us know how you do!
I think gap insurance is different from what the salesman described. My understanding is that kicks in only if the car is stolen (and not recovered) or totaled. Then, if the lessor thinks the car was worth, say, $25k, and your insurance company pays only $23k (probably because that's all they think it was worth), gap insurance means you won't get hit with a bill for that $2k difference.
Posts in this Thread:
- Lease spreadsheet update, Marc, Sat, 2 Jun 2001 18:55:59
- Re: Lease spreadsheet update, cork , Mon, 4 Jun 2001 10:16:05
- Re: Lease spreadsheet update, bigskypa, Mon, 4 Jun 2001 08:07:11
- Re: Lease spreadsheet update, james, Sat, 2 Jun 2001 21:38:12
- Re: Lease spreadsheet update, JerryC, Sat, 2 Jun 2001 21:20:38
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