we have a 27-month lease with gmac expiring in early march on a 2007 h3 lux. either i return it, or ask for a HUGE discount on the residual and buy it. dont have the lease in front of me at the moment so dont recall the residual but its probably in the mid 20k range. it seems to me that GMAC in the trouble its in would rather have me keep the gas guzzler at a huge discount then take the dinosaur back and try to wholesale it. any thoughts? i think its a great vehicle and would buy at a fire sale price, but not what the market was when i leased in december 2006. it'll be interesting to see what happens, especialy since they are knocking thousands off of new ones right now..
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Originally Posted by RubHer Yellow Ducky
Its not a point of holding an old price but how much can you sell below cost before you make a profit...LOL
Among all the things I have done I worked in the wholesale and retail photo industry for a long time ... New York Mail Order which sold a chit lot of photo goods use to offer some UNBELEIVEABLE DEALS that people tried to buy...It seemed like a lot of times the sale (below real cost) somehow got lost/backordered when it was a camera or lens only, at some crazy price but when you ordered the SUPER DUPER 10 Piece Kit with all the hidden no brand name accessories they could ship...
Well the same thing is happening here but at a higher dollar point...they can only lose so much money per sale (for whatever the reason) on discounted returned leases, trades, sales of new HUMMERS...They are caught between a rock and a hard place with sales falling off 40% and more, the cost of money, floor planning cost, interest, employee costs, mortgages etc etc etc etc...They are looking at a future which may not be there...
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