Mr.PS

Local Dealer offerd me a 2005 E500 Sport every avalible option except panaramic sunroof, Was black on black with birdseye maple and birdseye maple wood wheel. 39 Month 15k a year lease for $867 a month with $0 down.

Do you think this is a good deal. ? What do others pay for lease or purchase a month.

I test drove the new Audi A6 4.2 it was impressive but the interior was pretty small and felt a little cramped. The BMW 545i was nice I loved its feel but unfortunetly the interior was not up to par with the benz and the ride was a little harsher (But I expected that). The E500 was the best of 3 by far.

What do you think ? Im supposed to go back monday and make a deal. The guy dropped $120 off the lease a month because of a special promotion for X-mas from MB. (might be a sales trick)

Goodfella69

Just to give you an idea. My brother got a fully loaded e500 with the amg sport package except for keyless go and he put 3k down and he pays 900 a month on a 36 month lease with 12k miles a year.... that was 2 and a half months ago. but dont forget you have to pay for the 1st payment and a few other things when you get the car so it should be about 2k out of pocket regardless.. but it still sounds like a good deal..

Mr.PS

Thanks, I think im going to get it depends on credit when they check it , besides that I loved the E500..

Goodfella69

yea and my brother also has the best credit, which is called tier 1, pretty sure thats how u spell it.... yea the e500 is definitly a beautiful car, he has alabaster white/ charcoal interior i love the combo..

Mr.PS

Yeah I will see once I go back monday if my credit will allow the same rates. The E500 is very nice, I didnt like the panorama sunroof option to much tho. makes the car look different from the front and sides. The ride was very very nice.

I need to jump in a E55 see how much different the E55 is then the 500.

jago1244

whats the neg price? 64-65? whats the buy back price? 50%-55% resid?, or $33k to $35k or so? i could be high on the price figs..

i think youre in the ballyard for a decent deal. esp if you use all those 15k miles a year.
good luck , j.

MB SF

Don't ever fall in to the game of only being quoted a payment on a purchase or a lease!

Here let me help. You need some more specifics and lease terminology.

Cap Cost, think of this as Purchase Price if you were buying and not leasing). Cap cost is negotiable just like the sales price is in a purchase transaction.

Cap Cost reduction, this is the money paid upfront (ie, cash or trade in of your old car. The Cap Cost Reduction when trading in a car would be the net worth (ie, equity) in the car.

Residual Value. This is the predetermined value of the car at the END of the lease term. If you are given a high residual value then the lease payment will be lower but you will probably not want to purchase the car at the end of the lease as the residual value will be higher than fair market value. On the other hand a low residual value will result in a higher lease payment but you may want to purchase the car after the end of the lease and then you could resell it to realize a profit.

A friend of mine had a low residual value and bought the car at lease end and resold it. He made over $3,000.

I do not know a lot about leases as I always pay cash for cars. If you beleive that a lease is right for you and your financial goals then go for it. Just read the fine print.

Mr.PS

Thanks for the heads up, I previously had a 2002 Lincoln Navigator on lease it was a breeze. Came in found my color $0 down $815 a month did a credit check handed over keys and gave me navigation cds and drove off the lot. Lease just ended Monday this week returned it the same way I picked it up, Pulled up gave keys they said thanks and if im interstead in another lincoln to look around.

p.s How do you like the 355. ?

MB SF

I love it. The only problem is I don't drive it enough. Per the Ferrari "Authorities" whoever they are, the acceptable annaul mileage is 2,000 miles per year. I have had the car 2 years and I have put on exactly 3,200 miles total.

Still worth every moment as the "Smiles Per Mile" gauge is pegged of the scale.


Cheers.

Mr.PS

Yeah, No other car really gives you what Ferrari does the feeling you get when behind the wheel is so much different then any other sports car. The new F430 looks very promising.

Is your 355 F1 or 6 Speed. ?

MB SF

My 355 is a 6 speed. I love it it! The 355 F-1 tranny is total different than the new 360 and 430.

The F-1 tranny uses the same clutch disc, pressure plate, and throw out bearing as the manual. On the down shift it evens blips the throttle to match the revs.

All in all, I need to shift to feel connected to my car.

In the newer F-Cars it is harder and harder to get a manual trans..Mostly F-1

Mr.PS

The F430's F1 looks promising not to many people really liked the 355 and early 360 modena F1 trannys the 360CS uses different software and is notcibly better they say.

Are you a member of Ferrarichat.com ?

MB SF

I am. I have been posting ther for about 2 years. Not too often lately as I am learning as much as I can about my new E-500.

The other problem the 360 had was when people backed up going up hill it slipped the clutch and could bun it up in less than 2K miles. Ouch!