Most leases have the option to buy.... - Saab NG900 & OG9-3 Bulletin Board - Saabnet.com
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Most leases have the option to buy....
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Posted by Richard P. (more from Richard P.) on Tue, 26 Jun 2001 09:21:04 Share Post by Email
In Reply to: lease w/option to buy, zpc, Mon, 25 Jun 2001 16:46:58
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at the end of the lease. Closed-end lease means when you sign the lease contract there is a set residual price that you can choose to purchase the vehicle at the end of the lease. Most of the time though, that residual is more than the car is worth. So at the end of the lease you have several options. 1) you can turn the car in and walk away. 2) you can pay the residual amount and buy the car (worst option, unless the residual is lower than the value of the car) 3) you can negotiate the buyout price of the lease and get the car at a decent price (especially if the residual is higher than the value of the car). In some cases, like when the lease has incentives and a low low money factor, it is cheaper to lease the car for several years and then negotiate the buyout and finance the remainder.

All of this assumes that you stay within the mileage limits of the lease to avoid penalties at the lease end...which won't matter if you buy or trade in the car at or near the end of the lease.

Richard P. '99 9-3SE HOT

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