scmguru

I can lease this car for $775 (tax included) - 39 months w/ 5k drive off..

Will I be taking a bath over the next couple of years?

mc

bcapp

If you're talking about a brand new car, I think it's a good deal!

What are the options and what is the sticker?

In my neck of the woods, the dealer is still looking for mid 60's on a new '02 that stickers for about $73K.

scmguru

vanilla e55.. no options.. wish it had nav tho..

E55 KEV

If this helps in negotiating.

This used 2002 sold for $52,500 on Ebay:

http://cgi.ebay.com/ebaymotors/ws/eB...869817883&rd=1

Here are some 2002 E55 currently listed on Ebay:

http://cgi.ebay.com/ebaymotors/ws/eB...875069780&rd=1

http://cgi.ebay.com/ebaymotors/ws/eB...874642948&rd=1

http://cgi.ebay.com/ebaymotors/ws/eB...874626823&rd=1

If the car is brand new - $62k is a pretty good deal. Of course try to get it lower.

JamE55

I think that's a pretty good deal.

alz

I pay much more than that for mine -- MUCH MORE and I have tier one credit

Davide22

scmguru please check the Private Message I sent you!

richard brown

I think thats a great price/lease, I just payed $66K for a no option car 2 months ago in San Francisco CA (notoriously high area). My local dealer(50 miles north of SFO) has a 2002 Silver E55 stickered @$74K which they will "let go" for $72K !!!!!!

scmguru

Just spoke w/ the same dealer again.. looks like we may be able to put together a deal for around $675 a month for 39 months w/ 5k drive off.. I know there is a new one coming out but this seems so cheap!!

JamE55

Wow! You're right! That's pretty damn cheap! And this is a lease right? Just curious how much more is it if you buy it?

Vic55

Based on the numbers alone, that is an OK deal but there are some factors to consider. Your final price is about 5k under invoice but is part of your down reducing the sales price to 62k or is that the price you are starting out with?
Here is what I would look at though: The car is essentially one year old already as new models come out in Sept. I know that there is no new E55 yet but its been announced and tested and will be here in the upcoming year. I also look at the generation (body style) change- you are taking a hit there too. The 5 grand drive off is probably attributing to the 62 k cost of the car so you really are paying in the high 65's would be my guess (after taxes, license, first pmt, security, etc). Let me know if the 62k is the agreed on price before the cap reduction has been applied. If you are in actuality paying 65 for the car, the deal is not good. This is my opinion and of course you have all the facts. I work in the car industry finance arm and if I am looking at any new 2002 units I deduct 10% to get an actual/real value.

TBMpilot

Vic-

If you took 10% off most of the E55s out there, wouldn't that put you around 65K? Yet, you seem to indicate that is still too much to pay.

JamE55

I agree! If you're paying $65k that's too much. Check around with other dealers who has them in stock and pretty sure you can get a better deal than $65k.

schvetkaaks

62k for an E55 seems to be a spectacular deal to me - the W211 E500's nicely optioned are going for that price!!!

amg55

I think of a 'spectacular deal' as one in which you get more than you paid for...more car than the market dictates you should have gotten for that price.

A year ago $62k would have been better than spectacular.
But timing is the main issue here.
The 210 is now gone, the 211E55 is almost here, and as such the market for 210's has changed a great deal in 12 months.

A great deal would be one in which, after buying the 210E55, you could theoretically change your mind and turn around and sell it to someone else without taking too much of a beating.

On the other hand, another way to look at things, if your plan were to keep this car for 6 or more years, it really wouldn't matter whether you got a good, great, or slightly subpar deal. By the time you've held it that long you've absorbed most of the car's value, resale isn't too much of an issue (in a relative sense).
But most people here don't seem to keep their cars that long.

TBMpilot

I agree.

Price seems to be most important before the purchase and then quickly becomes moot and/or forgotten.

Vic55

I think the 10% off discount is misleading because the car is dropping in value every two months as per Kelley Blue Book. You will not be able to pay down the loan amount this much every two months so the depreciation will definitely pass up the discount. Of course this is true for all cars (except maybe Ferrari's) but 10% of 70k is alot more than 10% of a 20k Camry. The Kelley guide is used by most west coast banks to determine value on a used unit. Like amg55 said, the deal you were offered was great a year ago while there were still E55's in production but not anymore. This car is worth much less than 67k once you drive it off the lot- there is no demand. And as more people get them used for so cheap like on Ebay your new car value will suffer even more. Yesterday I was actually thinking of getting a daily driver E55 for around 48k (2000 unit)- what a bargain!!!!

mikE55

Hey Vic, I thought the S4 was your daily driver? What's your current car line up? Missing the ol' E55 already?

Vic55

Once you have had an E55 you can never forget it- even if they build better ones. I just made that quote because I am shocked at how the value of this once 20k over sticker car has dropped. I honestly could go out and lease a used E55 for cheaper than I could lease a new S4 based on the price I would pay and the residuals associated with it. Thank the lord I don't buy cars just for transportation and the assumption that their value will only diminish minutely because if I did then I would buy a Honda Accord and just put gas and oil in it for 10 years.

bcapp

So what's the answer then guys.............

There's still a 2002 E 55 at my dealer that they haven't been able to move.

If you were in the market, what's the right number given the fact that the '04 is going to be out shortly.......62K? (no Nav or dd seats etc. just your basic W210E55).

amg55

$62K is certainly the right territory.
For me, the smaller issues would make the deal or break the deal in that range.

E55 KEV

$62k is a great price! Does it have the CD Changer? If not ask them to throw it in.

This used 2002 with Comand & 9k miles is in PA for $59,900, www.raycoeuro.com :