GMAC Leasing Rigidity

[RubHer Yellow Ducky]

Originally Posted by Kaiser Souza

I have 9 payments left on my H3. My wife has a Volvo XC90. She is turning it in and for fun called the leasing bank and asked if they would discount the residual. They said they would take $8700 off the $24k+ price. It's about 33% off. I said hey, maybe I should call GMAC. Guess how much they would deal with me, zippo.

I then called my dealer and he confirmed this. He said I cannot even return the car and make an offer for it the next day . They will trace the ownership and only let me buy it at the preset price, $18500. He did say he would sell me a new one for $10k off list.

So here I am able to get a Volvo loaded for about $3k less.

Anyone wonder if this company is going to go bankrupt?????????

Do the MATH...

then pretend you own the dealership and have a major stake in GM Stock...

HUMMERS & other Medium to Large SUV's have very little resale value today (compared to original purchase value) and have gone down in worth at a very fast rate where as the Volvo XC90 has not.

Don't know where you are located but here in South Florida there are 10's of thousands of SUV's, Pickup's and the like just sitting on the dealers lot not moving. Many dealers won't even take them in trade at any price...

We feel your pain...