SmartBuy Vs SmartLease - Saab General Bulletin Board - Saabnet.com
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SmartBuy Vs SmartLease
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Posted by JamesD [Email] (more from JamesD) on Fri, 7 Jan 2005 14:11:06 Share Post by Email
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I guess my 1st question is: are these programs even available for Saabs. I assume yes.

I may not be mechanically inclined, but I am pretty saavy in the finance dept. I have read (and reread) the blurb on GM.com about these two programs and honestly, I can't tell the difference between the SmartBuy and a regular Lease.

When compared to traditional financing:
Both have lower downpayments
Both have lower monthly payments
Both have a purchase option at the end of the contract
Both can be returned to the dealer for a fee at the end of the contract

SmartBuy appears to be a balloon loan. However, they aren't clear about how you would exit a SmartBuy contract. Would you sell your car and just pay off your loan balance, or do you have to "buyout" the contract as you do with most Leases?

I see a tremendous risk in the being "upside down" on the SmartBuy if you terminiate early. Under regular financing terms you already run a huge risk of being upside down, especially on a quickly depreciating Saab. I can only imagine what you must look like about 20 months into your SmartBuy contract. Car worth: $18,000 and you owe: $22,000.

Thanks in advance for your responses...

posted by 68.163.177...

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