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Saab 9-3 Lease Questions
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Comments
My initial research suggests that the dealers in S. Florida have very limited quantities of the 2008 Aero 4-door sedan.
Thanks, in advance.
A local dealer on LI has 2 Turbo X models in stock, one in auto, 1 manual, both with Cold Weather and Touring packages. I opted for the 6-speed and requested an internet quote. I didn't get back complete info such as the buy price the lease is based on, money factor or residual, but what I did get back was enough to make me head for the door, so to speak. Here it is:
$619 per month X 39 @ 12K miles per year and $4,141 up-front
27 month lease would run $672 per month with $3,725 up-front
Paying that kind of money for any Saab, even a limited edition model, strikes me as being just about nuts. I am working to get the rest of the info that led to that pricing, but I would definitely not move on this car with those numbers.
Chime in and let me know what you think - would anybody take a Turbo-X with those kind of lease numbers?
is this fair?
39 mo. 12k / yr.
$495.00 /mo.
$34,615 MSRP
$33,309.84 Selling Price
$1500 cash + $502 GM card = $2002 + $495(first month) drive off.
so $2497 due at signing
Car_man
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You can look up exactly how much of a spread there is between this car's full MSRP and its dealer invoice price by visiting the New Vehicle Pricing section of Edmunds.com.
Car_man
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Any help that you can give me would be greatly appreciated. I am ready to pull the trigger but need to know that I'm getting a good deal.
I'm back. Could you update the lease information for an 08 93 2.0T sedan? I am looking at the 27 month lease with 10,000 miles per year.
Thanks much!!
Do you have the latest lease info for the 2008 Saab 9-3 Sport Combi Aero? I'm looking at an XWD version, but I understand that this is still just considered an Aero version option and doesn't change the lease variables.
So what is the current money factor and residual for a 27 month lease with 15K miles per year? Also, is Saab providing any lease cash for this model currently? I already can qualify for the $1000 Loyalty Lease Cash.
Thanks!
Lease Formula/Calculator
Car_man
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The best way to assure that you are getting a good deal on the 9-3 that you want is to shop around for the lowest possible selling price and then have the dealer that you decide to go with calculate your car's monthly payment using its base lease rate...which in this case is 4.95%.
Car_man
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Car_man
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Prices Paid: Buying & Leasing Experiences Forum
Car_man
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I am looking at a Hyundai Sonata gls 4dr 4cyl and the dealer really has me confused,
I have tried to research but the formula he is using doesn’t make sense.
Rebate 2,000.00
Msrp 20,135.00
Lev% 63%
Lease end value 12,685.05
Term 24
Money fact sell rate 0.00140
Total sales tax 474.04
--------------------------------
Initial cap cost 18201.00
Total add cap costs 845.00
Cash cap reduction 1,995.00
Adjusted cap cost 15,051.00
Base monthly rental 137.41
Total annual fees 45.00
Total initial fees 20.00
Cap tax 6.5% 259.68
Amount due at start 2,671.45
Question is on leasing do you get the rebate Hyundai is offering and the money factor is 0.00140 what does it mean.
And is this a good lease I have a good credit score.
Car_man
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Car_man
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Trying to decide buy vs. lease...I can get $3000 customer cash/loyalty for buy vs. $500 with lease.
Car_man
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Thanks
I really like the car, even with the reliability issues and potential GM bankrupcy(any thoughts on this, will/how it effect us the owners?).
GM doesn't offer leases anymore, so how is the situation with independent banks - pluses and minuses?
Local dealers use US Bank , any idea/feedback?
Should I be "scared" of third party lease ?
Dealers are offering 10-12k off MSRP and I am allegeable for $2000 "lease to buy", so we are looking at $290-300 per month(+TTL=$1700) for a car with $31-35,000 sticker .
You are correct, General Motors no longer offers supported leases on its products. As you mentioned, this means that if you want to lease one you will have to do so through an independent bank. What are the terms of the lease that you mentioned in your post, i.e. length, mileage allowance, MSRP, etc... $300 per month seems very reasonable for a 9-3.
Car_man
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Thanks for responding to my post, I thought you forgot about us(Saab forums).
Here is my 2008 Saab93-Lease experience.
The $290-$300(with tax) payment was for a 36months/12k miles lease through an independent bank(US Bank) no matter what I do . I know this sound strange, but that was the payment for Saabs with MSRP $30,xxx(brand new sedan) to $35,xxx(combi demo), depending on dealership , sedan or combi, trim levels, new or demo ... and etc.I am interested in the cheapest possible lease.
It was/is very, very difficult to compare these leases apple to apple due to the uniqueness of the lease program.
I was quoted MF 0.00215, 0.00229, 0.00235, .... 0.0033 and MF=APR %16 !!! (that was offer from a dealer using GMAC which equated to payment of $5xx a month), selling price from $8,xxx to $14,000 off MSRP, bank fee $595, $645, $795, $895, $995 and etc.
And .... here is the Real Deal I agreed, Real Surprise :mad:
There is a dealership (the only one around) offers leases through a local credit union.
2008 Saab9-3 Sedan demo(2500 miles), 24 months (yes, 2 years), 12K miles/year.
MSRP $31,xxx , "Sold" for $19,3xx, MF 0.00229, Bank fee $645.
Monthly $272(with tax) + TTL $1364 (Doc.$299, Bank $645, $272 1st.month, DMV ....) in my opinion this is awesome deal.
Did I get the car ?
No......., unfortunately NO , I was denied by the credit union for whatever reson .
I am so mad , I went home and checked my credit reports , ALL looked good , my crdit score is 800(Transunion), 769(Equifax), 781(Experian) still can't believe. :mad:
P.S.Buyers beware: official recession, GM possible bankrupcy , credit crisis.
Car_man
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My lease is up in October and GMAC is asking 18K for my car (9-3 sportcombi 2.0T automatic with 39K on it). The buy price is 18K and when I checked edmunds web site they suggest that 12K is a more realistic price (I've seen '07's with less mileage for 17K).
I called up GMAC and they said they don't renegotiate the end of lease price. Has anyone had any success in doing so? If not, what sort of leases have people got in the DC for a base sportcombi?
Paul
Thanks,
Paul
GMAC's current base lease rate and residual value for a 36 month lease of a 2010 9-3 2.0T Sport Sedan 2WD with 10,000 miles per year are 0.5% and 47% respectively.
The numbers for an otherwise identical 48 month lease are 0.5% and 39%.
When negotiating your deal on this car, make sure to take advantage of the $2,000 cash incentive that is currently available on leases of it.
Car_man
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I can do cash buyout if I can negotiate down....my stubborn/cheap side will not overbuy! Live in Northeast US, love the car and have had no Issues.
Any help would be great...thanks.
disc 4320
rebate 3500
Volvo owners 1000
Saab club 500
plus 289 advertising
130 prep
825 delivery
total
21649
What would be the lease rates on a 36 10,0000 miles and 12,0000 miles
same for a 48 month lease?
Thanks
I don't know whether GMAC (I suppose it's Ally now) will be willing to negotiate your car's end-of-term purchase option price or not, but you don't have anything to lose by placing a call directly to them and seeing what they say. More likely then not they won't lower your car's selling price, but you don't have anything to lose by trying.
Car_man
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The $3,500 cash incentive that you mentioned is not compatible with Saab's special lease program, but there is a $2,000 cash incentive available on the 9-3 Sedan that is.
According to my calculations, if you were to lease a base 2010 Saab 9-3 Sedan that has an MSRP of $29,725 and a selling price of 23,149 through Ally right now for 36 months with 10,000 miles per year, your zero down, pre-tax monthly payment would be around $300. Raising the mileage allowance to 12k would increase this car's payment to around $308.
The numbers for a 48 month, 10k lease would be around $283.
The numbers for a 48 month, 12k lease would be around $289.
Car_man
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One of the cars was a Saturn Aura, which is now an 'orphan' and the reslae values have plummeted. The other car was actually a 2007 Saab 9-3 Aero Sedan, whose resale value had also suffered due the brand's uncertain future at the time (this was last December, when Saab was expected to be going out of business also). I ended up getting the purchase price for the Saab down to about $2000 lower than the KBB Trade-In Value at the time...which was $8,200 lower than the purchase price listed in the lease contract!
I know that Saab's uncertain future at the time helped me negotiate a better price than might be possible now. But it is illogical for a bank/leasing company to refuse to adjust the lease-end purchase price of a car if that price is higher than the actual current value. It is in their best interest for the lessee to buy the car instead of turning it in. If it is turned in, the car becomes a liability. They have to pay to detail and/or recondition the car, spend money on marketing/advertisement and it costs them every day they carry the car in inventory until they find a buyer OR they cut their losses and sell it at an auction.
If you are seriously interested in negotiating with them to buy your car, make sure you know how much it's really worth! Check Edmunds and KBB values, but also search on AutoTrader for other 9-3 Convertibles that are the same year and have similar mileage and features to yours. I just did a quick search here in the Atlanta area and a lot of 2007/2008 Saab 9-3 convertibles are selling for $2k-$3k less than the value lisited in either price guide. If you find a simliar pattern in your area, print those out to use as support for the price you're trying to negotiate. And if they won't sell it for a fair price, there are a lot of others out there for sale!
Is that correct and how many dealers seem willing to do so?
After I insisted on seeing some logical explanation for the charge, they showed my a list of frequently asked questions from ALLY to the dealers. It showed that the $2,500 is simply additional profit, that ALLY gets $2,000 of it, and the dealer gets $500.
I told them that I thought the whole thing was very disturbing and unethical, and that I wanted to research the issue further before doing any deal. I took the title to my 2001 9-3SE and left the dealership.
My questions are: 1: is this now a common practice in leasing, or is it just a GM thing? 2: The whole experience left a bad taste in my mouth, and makes me leery to enter into a GM lease. Now that GM really has no interest in promoting Saab customer loyalty, I could see them pushing me to the wall at lease end if I didn't buy the car, with all kinds of charges for wear and tear. It seems to me that if I am going to lease a car, I should do it with a car company that owns its own leasing business (like VW or Toyota) so that the leasing arm will be flexible at lease end in order to help get me into another car.
2) It makes absolutely no sense at all.... and, I think that's why a lot of GM dealers are now using USBank for some of their leases..
I'm not sure I'd want to sign a lease that restricts my options at lease end... I don't blame you for thinking twice. That said, I don't have any great advice for you, either.
regards,
kyfdx
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