This is going to make someone's day...

Sep 15, 2009 | 07:47 PM

BlackHammer

Thread Starter

Super Member

Joined: Jul 2006

Posts: 789

Likes: 36

2006 E55

This is going to make someone's day...

Too good to be true?

2005 CL65
Lease Takeover for $1,059/month
20 Months Left
1,600 miles a month
Full Warantee to 100K

I live in MN or I would jump on it - CA Residents Only

WOW (if it is real)! I think a CL500 would lease for more...

Check swapalease if the link does not work.

http://swapalease.com/VehicleSearch/...hicleID=521879

Sep 16, 2009 | 12:02 AM

retardedmunk

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Joined: Nov 2006

Posts: 590

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1987 Buick GNX,SL65 Black, 1987 Buick Turbo Limited, 2010 GT500

why?

you can buy one for $45k with extended warranty and then put as many miles as u want on ....then sell in 2 years for more then u owe.....and your payment will be $300 lower....

Sep 16, 2009 | 02:20 PM

CL55AMGRON

Member

Joined: Aug 2009

Posts: 108

Likes: 1

From: Newark De

2005 CL 55 AMG

too much

ran the #s by my credit union. 5 yr loan 6.35% --- 877 mo. with nothing down.I never had a lease are there advanges to it. I like owning my car at the end. It still is one very bad ___ car. Hope the best for the owner. How much to buy out the lease?,and can you do that?

Sep 16, 2009 | 04:54 PM

TMC M5

MBWorld Fanatic!

Joined: Nov 2002

Posts: 2,895

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From: Maryland

'14 E63S & '14 Audi SQ5

Quote:

Originally Posted by retardedmunk

you can buy one for $45k with extended warranty and then put as many miles as u want on ....then sell in 2 years for more then u owe.....and your payment will be $300 lower....

Actually, it isn't too bad of a deal for people who want to hedge against the price of the CL65 dropping even further. I would tend to agree with you that in two years the car is not going to experience as a huge of a drop like it has every year for the past 4 years. If you were able to get a 72mo loan for $45K at 6%, the monthly payment would be $746. The payoff balance at 20 months would be about $34K.

But if you purchase it, you have an accumulated $6K+ of cash saved every month over the lease. So from a straight cash outlay standpoint (not taking the present value of money into account) you would break even if you could sell the car at $28K after 20 months of ownership.

What will the price of that CL65 with an additional 32K miles (assuming 1,600 miles per month) be at that time.. who knows...

Tom

Sep 16, 2009 | 10:36 PM

BlackHammer

Thread Starter

Super Member

Joined: Jul 2006

Posts: 789

Likes: 36

2006 E55

Interesting points from some of you. I guess it depends on what you are looking to do with the car. Personally, I think it is a good gig for I would drive all 1,600+ miles a month. The car has 65K miles on it so at the end of the lease it would have 97K+ miles on it. When cars get these kinds of rounds on them they tend to drop in value big time. If you bought (versus lease) a CL65 and drove it to nearly 100K miles I think you would have a tough time selling it (in this case a 6-7 year old car with nearly 100K miles) for the mid-$20K range.

Buy one (not sure if I would finance a car this old for 72 months) and drive it on occasion one should not see depreciation as bad as when new.

Different strokes for different folks I guess. To me, for what I would want it for (driving it), it would be a good gig and I would likely not spend a lot on maintenance (unless the buyout was super cheap). Lots of things to consider...

T

Sep 17, 2009 | 12:57 AM

retardedmunk

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Joined: Nov 2006

Posts: 590

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1987 Buick GNX,SL65 Black, 1987 Buick Turbo Limited, 2010 GT500

wow

now u didnt mention the 60k plus miles.....For that coin u can buy a really nice cl65 if u find one that is for under $40k...even saving more on that monthly nut.....no way a $1000 plus for that car....lol

Sep 17, 2009 | 12:59 AM

retardedmunk

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Joined: Nov 2006

Posts: 590

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1987 Buick GNX,SL65 Black, 1987 Buick Turbo Limited, 2010 GT500

recent auction sale

a black on black no keyless go 104k mile CL65 just went for $29k at auction last week.....this car had a low rating and engine issues...so u can see the car will have a following for future value and wont be a $20k car for sometime as the cl600 has become......

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Oct 1, 2009 | 08:09 AM

sound 8

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Joined: Apr 2008

Posts: 2,838

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From: U.K.

SL 63 W/B AMG , S600,C220

Quote:

Originally Posted by TMC M5

At a certain point all the used parts of the CL65 are going to be some multiple of the whole car as a whole. I figure that parting the car out piece-by-piece is always a last ditch option.

Tom

Sounds like a Johnny Cash record