Quote:
Originally Posted by Rider
It's only going to get worse. The car companies are fucked.
Currently I'm leasing a GMC Acadia. The sticker price on it was $37K and I got it for $34K. The residual at the end of the lease is $23K meaning I'm only paying for $11K of vehicle. My lease is on for another year still and the retail value on a 2007 Acadia is under $20K. By the time my lease is up the car will be worth less than $16K and I won't buy it when the lease is up. GMC is going to lose well over $10K on that deal. In the next 1-2 years there will be all these lease returns flooding the market driving the used car price down even further while keeping the demand for new cars low. The auto makers better hold on cause it's going to be a very bumpy ride for the next several years.
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How long is your lease?
GM is getting hosed on that deal.