What is a good payment for a 2006 E55? It has 1,100 ticks. It only has navi and sat radio. The OKC stealership wants $1,283 for 39 months and 12K miles per year. This seems to be quite high. I recall a 999 lease deal for a vehicle with a premium package earlier this year. Any help would be greatly appreciated. Thanks,

 

The $999 lease deal had a lot of "fine" print to it.. Mileage was 10k a year, it was for a low optioned car. But it WAS a good deal. And it was done at a time when rates were much lower. There is no way to duplicate that money factor again...

Bottom line, the $1283 payment you were quoted, is about right for a lease payment on this car..

 

That deal is gone. Mine is pretty loaded and my payment is 1000, with $3500 drive off. That deal is long gone, though. Your only bet there is to find one that someone got and assume the lease from them.

You paying anything down with that deal? If not, then that makes it better.

 

Nothing down, just the tag tax and title and first month's payment,

 

A new one would cost you about $7500 (at most). Up to you to save that money or get an '07.

 

What's the residual after 39 months? That's not a bad deal if you dont have to fork out any money down. Good luck!

 

Leasing one of these cars is a no brainer.....You can pick these cars up now for mid to low 50's 2004's and 2005's ....a good rate of about 5.9 apr for 72 months and you got a payment of about $800 tops.... I pay $780 for a 2005 I bought for $51k 28k miles.....84 month financing with a 6.9 apr...no down payment.....just paid tax out of pocket by choice
I will keep it for 2 years and then sell... I will owe low 40's on it... sure to sell it for that or more.....with a lease you are stuck paying more...can't go over a certain amount of miles... and are generally stuck in the deal for 3 or more years.... leasing is a waste....

 

You are forgetting the intangible benefits of leasing. I agree that the overall cost of leasing is more expensive than buying. Under the lease, I can drive the **** out of the car and not be concerned about anything, especially resale or the warranty running out. It's brand new. Additional miles are not that expensive if I need them. I don't own this car and in three years and three months I turn it in and get another. Nothing to sell, no hassles other than the turn in inspection. The vehicle will be under warranty for anything that happens in the interim. It sounds like you probably have 1.5 years left on the warranty, then you will have to face the value decline due to the car out of warranty and any repair cost. This vehicle has two problems, the cost to repair is very high and the car has significant issues requiring repair. You do make valid points...however, and it sounds like you have a good stratgey that was researched. Still, I would rather not face getting rid of the car, especially with uncertain economic events here. The lease provides complete enjoyment without any downside of direct ownership all for one fixed monthly payment. Some intangible benefits of leasing.....

 

another negative of BUY vs. LEASE is that buying in CA you you've to pay 8.5% sales tax on $55k...that's over $4k that's "gone." if leasing, only paying sales tax on the total payments and not on the residual.

 

if you have a business you can also write off the payments

 

As of today Kelly Blue Book trade in value for a 2005 E55 in excellent condition with 25k miles is $60,900. You will most likely be buried in that car in two years when you want to sell it. Also, due to the tax and loss of value it is a MUCH better deal to bargain with a handful of dealers over the purchase price, get the best money factor and highest residual possible and lease a new E55 for two years.

 

This is the best part if you can do it. My business pays my lease with pre-tax dollars, this makes the car roughly half price..

PT

 

If you don't have a business, then hire a proper CPA. Having a huge salary just sit and depreciate while paying taxes isn't the brightest of ideas.