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I loved subvented leasing
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Posted by Benji (more from Benji) on Sun, 23 Nov 2008 20:55:45 Share Post by Email
In Reply to: Re: Why suspend leasing?, Dan [Profile/Gallery] , Sun, 23 Nov 2008 20:20:34
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and took advantage of it many times. Why? Because they cooked the books to make the numbers palatable to me, the consumer, at the expense of having to deal with it 2 or 3 or 4 years down the line. But it was important to sell cars NOW and who cared about resale?

Well, all those 24, 27 and 36 month leases came home to roost in the last year or so, and suddenly the leasing companies had cars that they had to auction off because the residuals they made up weren't even close to reality. And foolishly, they wouldn't swallow their mistake and let the person who had leased the car buy it at the honest used car price - they insisted on asking for the artificially high residual, and of course no one bit.

If you look at the new corporate leases in the paper, all the down payments have doubled (at least) and now include security deposits. If you can find a newspaper from even 5 or 6 months ago, you will see drastically different lease terms. I was lucky to jump onto the Acura subvented bandwagon in August, which was a month too late for great lease terms, but still had very good terms. Everything went to hell around Labor Day.

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