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Discussion Starter #1
Anyone heard anything?

I am looking to lease my Sky as I have done with my 06' Vue.

Thanks in advance for any help.
 

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leasing

no rates or residuals are out for the sky as of yet...other optional banks may have some programs, but with the newness of the car they might not also...hope this helps, your friendly saturn salesguy.
 

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Discussion Starter #3
Will Saturn be offering any lease plans on the Sky?

I'm not looking to get the rate anytime soon I am just wondering if the Sky will even be available to lease.
 

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I'm sure someone will come up with a lease plan. It's too lucrative a deal for them to pass up. Leases provide sooooo many more ways to screw the buyer and increase dealer profits.
 

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UFC1 said:
Anyone heard anything?

I am looking to lease my Sky as I have done with my 06' Vue.

Thanks in advance for any help.
As of right now there are NO Smart Buy or Smart Lease options for the Sky... :nono: :banghead: :brentil: :mad: I'm hoping that we will get some soon but there is no telling... :thumbs:

Regards,

:willy: S.D. :willy:
 

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With a car they have pretty much sold out the first year production run before they had even one in a showroom, and you really expect to be able to lease one?:confused: :lol:
 

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Discussion Starter #7
Of course, dealer is guaranteed in 4 years to have the customer come back to the dealer and most likely lease another vehicle. Also the dealer makes more money on a lease. Saturn's website also stated that the Sky would be avaialble for lease. I was just trying to find out if anyone has actually heard about lease options.
 

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ggccg said:
I'm sure someone will come up with a lease plan. It's too lucrative a deal for them to pass up. Leases provide sooooo many more ways to screw the buyer and increase dealer profits.
How does leasing screw the buyer??? Please explain that to me because I don't think you have a firm grip of vehicle financing.

To answer the question though I was told by the DSM that the residual on the Sky will be very high as they feel it will hold its value very well...the good news is that it means the lease payment will be very low.

I am excited to lease mine and write off the payment.
 

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Discussion Starter #9
That's what I like to hear. I'm already paying $280 on a Vue lease.

If I hear anything I will post. I have about 10 people who have promised to update me.
 

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CdnSkyGuy said:
How does leasing screw the buyer??? Please explain that to me because I don't think you have a firm grip of vehicle financing.
Rather than type my fingers to the bone here, I will refer you to several websites that detail the ways in which dealers can and often do take advantage of buyers on automobile leases.

Even though you may have lower monthly payments with a lease, that is not the same as being a "good deal." You can still pay way too much. What you need to understand is that leasing a car is nothing more than renting. You have absolutely no equity stake in the vehicle, but lots of downside opportunities if it doesn't hold its value as well as anticipated by the lease. One way or another, you pay for the car. There are no free rides.

Unscrupulous Finance Managers can manipulate the Cap Price on the contract and conceal other important information from buyers and often DOUBLE the profit to the dealer on a lease compared to a sale. Groups of dealers in various areas of the country have been forced to return millions of dollars of overcharges to people who leased cars thinking they were getting great deals.

For the best deal on a car, you have to keep the number of financial variables to a minimum. Leases add a number of new financial variables that the typical buyer does not understand but the dealer does, oh so well.

See:

http://www.consumeraffairs.com/automotive/auto_leasing.html
http://www.carinfo.com/autoleasing.html
http://www.leaseguide.com/lease12.htm
http://www.neighborhoodlaw.org/page/78&cat_id=81
 

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We leased Saturn #3. It was killed by a Giant Oak Tree. We were out previously paid $$$ as the lessor got the insurance payout.
 

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MOMDRAE said:
We leased Saturn #3. It was killed by a Giant Oak Tree. We were out previously paid $$$ as the lessor got the insurance payout.
Yep... your "down payment" is nothing but rent paid in advance. You probably also got caught in the "gap" between the lease cap and the depreciation that occured when you drove the car off the lot. Dealers will sell you Gap Insurance to cover this unhappy event, but that's yet another dealer profit center.
 

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Discussion Starter #13
I put 4K down on a Scion xB. I'm selling it as soon as the Sky comes in and I will most likely be able to pay off what I owe on the finance. So I paid 4K down on a 17K car, and I get 0 back. This is my reason for leasing the Sky.
 

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UFC1 said:
I put 4K down on a Scion xB. I'm selling it as soon as the Sky comes in and I will most likely be able to pay off what I owe on the finance. So I paid 4K down on a 17K car, and I get 0 back. This is my reason for leasing the Sky.
Good luck. Terminating a lease early is generally not a good thing.
 

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Discussion Starter #15
Nah this was a finance. Even with a 4% interest over 5 years, I owe about 8 I think I may get 9 if Im lucky but thats a stretch.
 

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UFC1 said:
Nah this was a finance. Even with a 4% interest over 5 years, I owe about 8 I think I may get 9 if Im lucky but thats a stretch.
ahhhh... now you may see the benefit of equity in a vehicle. :)
 

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ggccg said:
Yep... your "down payment" is nothing but rent paid in advance. You probably also got caught in the "gap" between the lease cap and the depreciation that occured when you drove the car off the lot. Dealers will sell you Gap Insurance to cover this unhappy event, but that's yet another dealer profit center.

Gap insurance is free through GMAC. If you put a large down payment on a lease then you should buy replacement cost insurance.

Sure there are bad finance managers out there but they can screw people over on a finance contract as well. The great thing about Saturn is that that should never ever happen. For people who change vehicles regularly then a lease is a great thing. There is very seldom a situation where a person financing a new vehicle has any equity. It would take you 2 years to pay down the amount it depreciated when you drove it off the lot.
 

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ggccg said:
ahhhh... now you may see the benefit of equity in a vehicle. :)
He is saying that he has ZERO equity...he'll just get what he owes on a trade in value...and that was with $4000 down payment!!!
 

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Discussion Starter #19
Thanks for clarrifying CdnSkyGuy, that's exactly what I was saying. Granted the car didn't hold value to well, and I only made payments for 2 years, but come on I put 4K down on a 17,000 car, thats nearly 25%.
 

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my dealer thinks they will be about the same as the solstice. 6 to 6.5 percent and a 40 percent residual. only a guess.(this is in canada, may difer in the u.s.)
 
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