Re: buying the car after the lease - Saab NG900 & OG9-3 Bulletin Board - Saabnet.com
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Re: buying the car after the lease
Posted by dgordon [Email] (more from dgordon) on Fri, 26 Oct 2001 00:19:13
In Reply to: Re: buying the car after the lease, enrique, Thu, 25 Oct 2001 23:06:40
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I've known 2 people who had leased BMW's thru BMW's credit arm. They both negotiated buy-outs below the residual at the end of their leases. In at least one case, I think the rep from BMW Credit suggested that my friend make an offer. I had a BMW on a 5 year lease that ended in 1994 - the lessor was a large bank. About a month before the end of the lease, I was easily able to negotiate a buyout that equated to the low ("wholesale") Kelly Blue Book - which was about $1,600 under the residual on the lease. Kelly Blue Book is, I think, on the high side of what the market is for used cars. I think a number of commercial banks have pulled back from auto leasing - and I suspect one factor is the difficulty of managing the appropriate residual and still having a competitive payment.
posted by 66.27.1...
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