SAAB does not allow lease transfers?

[dmg]

To the mods - if you could please keep it in this larger forum please...thanks.

I'm interesting in taking over a lease from the myriad of lease transfer sites, and I was told by an owner that as of Jan 1st of this year, that GMAC/SAAB doesn't allow lease transfers anymore; so essentially SAAB lease owners are stuck w/ the car, and would have to sell the car outright.

I tried calling some numbers; most people were clueless. Also, tried talking to some other lease owners and they are to be getting back with me on this.

What's the 411 on this? I know auto companies don't make money on transfers and someone like me would be analyzed more strictly; but that seems ridiculous.

[Sirhc]

Leasing in general might be a thing of the past. Several large companies no longer offer leases due to the negitive equality cars can have when turned back in from lease. If you interesed in finding out the answer you might want to call swapalease and ask or another leasing trading company.

[Krieg]

Can you provide some more detail? This applies to '08 models leased after 1/1/08?

That's an interesting development, if true.

Maybe the success of swapalease is such that the pain in the arseness of the swaps became too great?

[dmg]

Originally Posted by Krieg

Can you provide some more detail? This applies to '08 models leased after 1/1/08?

That's an interesting development, if true.

Maybe the success of swapalease is such that the pain in the arseness of the swaps became too great?

No. The cars I was interested in were 2006 9-3's. So, I'm assuming that its for every year SAAB in general. Ok, after calling swapalease, they said it depends on the ind. lease contract upon signing. I wonder why people don't know their contract before posting the car up. lol

[Krieg]

Well, I'm skeptical. I've seen quite a few late model 9-3's move on swapalease recently.

I could see how they could make this change to new leases, but not retroactively.

[JonV]

Sirhc said "Several large companies no longer offer leases...."

May I ask who they are?

[Krieg]

Chrysler. Dodge. Jeep.

Okay, same company

[JonV]

Originally Posted by Krieg

Chrysler. Dodge. Jeep.

Okay, same company

Looks like Jeep still leases to me?

http://www.jeep.com/hostc/bmo/models...&zipCode=07663

and Chrsyler:
http://www.chrysler.com/dma/501/inde...=300&zip=07663

and Dodge:

http://www.dodge.com/dma/501/index.h...rger&zip=07663

all sites have lease offers. Where did you come up with that urban legend?

[SMHarman]

Originally Posted by JonV

Looks like Jeep still leases to me?

http://www.jeep.com/hostc/bmo/models...&zipCode=07663

and Chrsyler:
http://www.chrysler.com/dma/501/inde...=300&zip=07663

and Dodge:

http://www.dodge.com/dma/501/index.h...rger&zip=07663

all sites have lease offers. Where did you come up with that urban legend?

Dunno - maybe the quality financial papers.
http://www.ft.com/cms/s/0/a11952b6-5...077b07658.html
Chrysler pulls out of vehicle lease business

By Bernard Simon in Toronto and Nicole Bullock in New,York

Published: July 26 2008 03:00 | Last updated: July 26 2008 03:00

Chrysler's financing arm is pulling out of the vehicle-leasing business, underlining growing strains in the US car finance market caused by a dramatic slide in used-vehicle values and tightening credit conditions.

Jim Press, vice-chairman of the number-three Detroit carmaker, said yesterday that "the economic environment that made leasing attractive 15 or 20 years ago has changed. We think the overall value proposition for buying is so much better right now."

Mr Press pointed to a recent plunge in residual values on off-lease vehicles as well as a more difficult climate in securitisation markets.

The slumping pick-up and SUV market has forced financing companies to sell off-lease vehicles at prices well below contracted residual values.

Leases make up about 20 per cent of Chrysler Financial's business. Chrysler said that its dealers would continue to offer leases financed by other financial institutions, and that its withdrawal from this business would enable it to offer more attractive vehicle-purchase incentives.

[JonV]

"Chrysler said that its dealers would continue to offer leases financed by other financial institutions"

So basically they still offer leases, but they are no longer the Bankers. That is quite different from the original statement, "Several large companies no longer offer leases....", which indicates you could no longer lease those vehicles.

[Krieg]

Yeah, I wouldn't go for a lease that wasn't being heavily subsidized by the manufacturer. If Chrysler Financial isn't doing the lease, in my mind Chrysler isn't doing leases anymore, because nobody is going to get one from them. The numbers just won't work.

Just look at swapalease, and the differences between the manufacturer leases and the bank leases. Huge difference in monthly payments.