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More explanation (archive)

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Posted by Trev P on September 25, 1998 at 08:48:32:

In Reply to: Owner loyality posted by Keith on September 25, 1998 at 08:42:40:

OK, maybe I should explain a bit more about my situation.
First, I'm 13 months into a 2 year lease. The car is certainly worth MORE than my buyout, even on a trade. At this time my dealer is only wishing to give me my buyout less $1000. What about any equity still in the car? In my mind I should be getting around 2-3K not a $1000 defecit.
Maybe I don't understand leasing 100% but you can't tell me a BMW depreciates more than a standard 20% in the first year? My calculation shows a depreciation of 33%!!
Something is not right here.

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