New to this Forum. I have a question about a lease (Deal or No deal)
#1
05-20-2007, 08:25 PM
New to this Forum. I have a question about a lease (Deal or No deal)
Ok well I found a lease to take over for about 6-7 months. Now the thing is GMAC told me it is a Smartbuy. I am guessing some of you guys know about this type of lease? Anyways I am trying to see if this is a deal for me. Now I am told that after the lease is up I have the option to buy it pretty much itll be around $17,000. I am also told that you keep making the same payments your making on the lease payments when you buy it out right. So is this a good deal? 2005 Cadillac CTS Black/Black garage kept with 26,000 miles.
Only thing that I do while taking over the lease is pay state taxes which will be able $1100 plus I make first payment (monthly payments are $340) but I would probably just make the first 2-3 months so I have no payments in the summer. Any thoughts? I am in a PICKLE!
Only thing that I do while taking over the lease is pay state taxes which will be able $1100 plus I make first payment (monthly payments are $340) but I would probably just make the first 2-3 months so I have no payments in the summer. Any thoughts? I am in a PICKLE!
#2
05-20-2007, 08:33 PM
RE: New to this Forum. I have a question about a lease (Deal or No deal)
may i suggest that you look up the low KBB value for the car,
and calculate what the difference would be if you were buying today,
with payments for the same duration as the lease + buy period?
let me know what the difference is ?
ORIGINAL: loOp
Ok well I found a lease to take over for about 6-7 months. Now the thing is GMAC told me it is a Smartbuy. I am guessing some of you guys know about this type of lease? Anyways I am trying to see if this is a deal for me. Now I am told that after the lease is up I have the option to buy it pretty much itll be around $17,000. I am also told that you keep making the same payments your making on the lease payments when you buy it out right. So is this a good deal? 2005 Cadillac CTS Black/Black garage kept with 26,000 miles.
Only thing that I do while taking over the lease is pay state taxes which will be able $1100 plus I make first payment (monthly payments are $340) but I would probably just make the first 2-3 months so I have no payments in the summer. Any thoughts? I am in a PICKLE!
Ok well I found a lease to take over for about 6-7 months. Now the thing is GMAC told me it is a Smartbuy. I am guessing some of you guys know about this type of lease? Anyways I am trying to see if this is a deal for me. Now I am told that after the lease is up I have the option to buy it pretty much itll be around $17,000. I am also told that you keep making the same payments your making on the lease payments when you buy it out right. So is this a good deal? 2005 Cadillac CTS Black/Black garage kept with 26,000 miles.
Only thing that I do while taking over the lease is pay state taxes which will be able $1100 plus I make first payment (monthly payments are $340) but I would probably just make the first 2-3 months so I have no payments in the summer. Any thoughts? I am in a PICKLE!
#3
05-20-2007, 08:38 PM
RE: New to this Forum. I have a question about a lease (Deal or No deal)
Well Excellent condition is about $25,000 and loan payments would be around $560 a month with 6 something %.
The question is for me that if I did take this lease over then decide to continue to make the payments as in keeping it, I could possibly sell it early next year maybe break even or even make a little money.. I am just not how sure Cadillacs hold there value, especially with the 08 coming out with a slightly different change to there look. I have owned Audis, and Acuras mostly so Cadillac is a tad change for me. But I am kind of concerned how the value is for Cadillacs if I go to sell it around January/February
The question is for me that if I did take this lease over then decide to continue to make the payments as in keeping it, I could possibly sell it early next year maybe break even or even make a little money.. I am just not how sure Cadillacs hold there value, especially with the 08 coming out with a slightly different change to there look. I have owned Audis, and Acuras mostly so Cadillac is a tad change for me. But I am kind of concerned how the value is for Cadillacs if I go to sell it around January/February
#4
05-20-2007, 08:40 PM
RE: New to this Forum. I have a question about a lease (Deal or No deal)
The lease is only for 7 months pretty much. But GMAC offers that BLOOM price at the end which is the cars main price to buy it for. Which could be good on in the end because I would hope Cadillacs wouldn't drop down $6000-7000 within 9 months total.
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