Re: Lease Residual Negotiation - Saab NG900 & OG9-3 Bulletin Board - Saabnet.com
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Re: Lease Residual Negotiation
Posted by dgordon [Email] (more from dgordon) on Sat, 9 Nov 2002 11:19:52
In Reply to: Lease Residual Negotiation, Joey T, Sat, 9 Nov 2002 00:14:32
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There has been previous mention that Saab Finacial had obtained insurance as to the residuals on the leases. It apparently is not effective if they sell the car to a private party, such as the lessee. They must apparently sell the vehicle to a dealer (not sure whether that would be any auto dealer or just a Saab dealer) to have an insured loss that they can claim under the policy.
I still have trouble comprehending how and why any insurance company would write such insurance, especially on Saabs (with their notorious reputation for rapid depreciation). The only rationale that I can think is that (1) they would require that the insurance be on all leases written and (2) they were relying on low rate of leases running to their full term. (A former leasing company client of mine told me 8 years ago that only about 25% of leases go the full term - so, lessors only have to confront the residual value vs. market in those cases).
posted by 66.27.139...
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