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UPDATE: Saab still not leasing Saabs

Date: 10 July 2009   |   Author: Tristan Young

Masterlease will also no longer provide contract hire and leasing quotations on Saab vehicles

Despite the recent agreement by Swedish sportscar maker koenigsegg to buy ailing Saab, the maker's leasing division in the UK is still not writing any new business on Saab cars.

Saab Contract Hire part of Masterlease, owned by GMAC the finance arm of GM which is selling Saab, earlier this year stopped leasing Saabs in the UK.

At the time, Saab Contract Hire said: "This is due to the recent announcement by Saab AB (Sweden) to file for reorganisation, which is an alternative to an outright bankruptcy filing."

The promise of a new owner and upcoming new models including a replacement for the aging 9-5, Saab Contract hire and Masterlease are still not leasing Saabs.

"Earlier this year Masterlease reviewed its policy concerning the writing of new business with Saab linked to the challenging business environment faced by the manufacturer. At this time no further decision has been made to change this position but Masterlease continues to monitor the developing situation regarding the sale of Saab AB."