2005E55AMGLOL

so i was at my local lexus dealership waiting for a buddy of mine to get off to go to lunch. anyhow, i ended up test driving an ISF when i waited.

great overall car.
heres the skinny.
the dealership has 7 on the lot and theyre somewhat motivated to move a few. window price is a shade under 61k and they were willing to do 4500 off MSRP if i bought one today.

that comes to about 56,500. they told me invoice (dealership cost) on the car was around 54k. thats what they said anyways.

so i went to look at some numbers with the finance manager whos a buddy of mine. he said, that with a 5k driveoff, my monthly payments would be:

36 months lease
$885.70/MONTH including taxes/title/reg
5k driveoff
10k miles/year
residual 52 percent so $31,720.

just curious as to what you guys think and if thats a good deal? its tempting.
remember i would be getting the car for about 4500 off sticker so around 56,500 before any T/T/R.

not sure if all this transitions into a good money factor. according to edmunds.com the invoice on this car fully optioned out with a 61k sticker is 53k....

EastCoastAMG

The monthly payment seems right. That is what I am seeing in the Boston area. The down payment seems to be about $2k too high. My hunch is that they are getting you on the interest rate, or "money factor" in lease terms. Check with them what it is. They will give you a decimal number, like .00375. Multiply that by 1400. That will give you your interest rate. See if it makes sense. Most people don't understand that you can negotiate that as well. So, you are close, but I think there is room. Lastly, don't forget, you can get into a better car (AMG) for that same money...

whoover

By the way, the invoice price is reduced to the dealer by a rebate they receive on all cars they sell. This holdback means that the dealer can sell the car for invoice and still make a couple of percent on the deal. If the dealer is really hungry, you should be able to get pretty close to invoice.

Mr Kram

seems ok. money factor is probably about .0025 with those numbers.

EastCoastAMG

3.5% ? That seems pretty low for Lexus. Those guys always get you on the financing side. I bet it is over 5%. Hopefully, we will find out...

Mr Kram

i believe .0025 MF equates to 6% interest. (x 2400)

SLK55R

I played with one on the highway and while it sounded nice ... it was SLOW.

2K6E55

You Sir, are correct.

$5K is a bit too much to put down on a lease. I was offered $930 on a 3yrs 12K/yr w/$1800 down but I walked. GL.

jrcart

I don't think they are factoring a sale price of $56,000 with a lease payment that high, here's my reasoning. I Lease a 2008 ML320 CDI, pretty much loaded, MSRP was $62,000. At delivery I cut a check for about $950.00, first month payment, plates and doc. fee. My monthly payment is $822.00 for 36 months with 12,000 miles a year.

See what I am saying...it does not add up. They are not discounting they car as much as they say or they are residualizing the car horribly or something??? I put down nearly $4000.00 less than you, am allowed 2,000 more miles a year on a car that stickered for over $1000.00 more than the one you are looking at. I would go get another price from another dealership. This does not add up. For the record my interest rate was 6.125, I did this deal back in November of 2007.

EastCoastAMG

You are correct. Thank you for pointing that out. I also agree with you that 6% sounds correct. Good catch.

EastCoastAMG

Fully agree. I raced one (it did have 4 people in it) and beat it by 4 car lengths from 55 - 140MPH.

2005E55AMGLOL

i cannot get an AMG car for less money. a new one anyways.
i already have a bmw and one amg. looking for a little diversity. this car does a lot of things very very well. its faster than my m3 (albeit marginally with the mods) and slower than the thirsty E55. good on gas, comfortable, and with a lease i can write off the monthly payments as a business owner.

i buy all my cars fully loaded. a fully loaded optioned out C63 AMG will run you north of 70k. same goes for the M3 wth all the goodies, and even the rs4. this car is very reasonably priced and tempting. not saying im going to get it, but its worth a thought.

good points a bunch of u guys made though.
if i can nego the down payment to about 2500, and keep the monthly along the same lines and get 12k miles i might go for it. if not, ill walk.

they have 7 on the lot. ill check back in a couple weeks. if none of them have sold, they may be more inclined to make a better offer.

2005E55AMGLOL

you must have gotten a big chunk off msrp. im looking at the numbers and that could be thenonly way it would make sense. its possible though. 10-12k off one of those probably isnt too unheard of. either that or you got a really really high residual somewhere in the 56-58 percentile range.

jrcart

Not sure exactly what they did, but those are the numbers through M-B finance. Looking at the paperwork now. I cut a check for $991.75 and payments are $822.75 for 36 months, 12k a year. No security deposit. I have a similar lease on a $58,000 530xi for one of my employees, but those payments are in the low's 7's with less than $1000 out of pocket.

von32897

Residual seems very low in comparison to any 36 or 39 month Infiniti lease. Lexus should have higher residual.

Having ran a finance department, let me clue you in a little bit about the friends and family plan. This is the plan we use, to crack you upside the head and run all the way to the bank. Our biggest grosses we're from the friends and family plan. I'm talking about 5k-12k back end profit! Bling! Bling! Just be careful. Those numbers don't look right to me.

2005E55AMGLOL

ok lets do some quick simple math.

750 a month x 36 months = $27,000
+lets say u put $1000 down. thats 28,000. over 3 years

say the car is worth 58,000 out the door (with tax, title, reg). - 28,000

residual is 30,000/58,000= 51.7 percent.

approximations these are of course. but that would be at 0 percent interest.
i guess its possible. but this would be you getting about 10 percent discount on the car which is about 5800 off window price (to account for tax/title/reg). may be a little less in IL than in CA because of your lower state tax rate.

i mean either way you got a slammin deal on both your Leases.

renesis83

SO you are paying $32k for 3 years
lets say brand new if you buy 56k + 6% tax(3360) plus financing charges = roughly 65k or so
the residual value they are calculating is fairly low and deal is average.

The car by the way is pretty good for a daily driver. I drove one on the track and it felt a little soft but still powerful compared to the RS4.
what else did you consider.

Mr Kram

he already stated that the residual is 52%. that is exactly the same for the E63 under the same terms...

2005E55AMGLOL

honestly, im not really in the market for another car. i mean, i like the isf and it seems like a nice car to lease, that way i can keep the mileage down on my other two cars since i drive A LOT, but i dont know. c63 amg is nice, but more than i want to spend. ive had audi. i have bmw and mercedes. just looking for something a little different. maybe the new cts-v due out in october? who knows.

CynCarvin32

You can get M3's for 4-5k off window right now even more. This economy is terrible and nothing with a big honking V8 is selling well. I bet you can get a C63 for 5k off window.

Santa Monica BMW has 7 M3's (or the did) and they all have red tags in the windows. I get calls every few days begging me to come pick up the white on black M3 sedan. Tempting.

EastCoastAMG

Find me a new C63 for $5k below sticker and I will buy it now and give you a thousand for your time.

KapilBenz

the numbers actually sound really good. basically what ur sayin is your lease is for under 900 and its a 36 month one. that sounds decent to me but i would much rather get a c63 amg any day, or even an '08 M3. I drove an is-f but it kinda seemed like a normal car to me.
go for the c63 plzz
dont make the same mistake a couple of my friends did

2005E55AMGLOL

see. the thing is i dont want a new m3. i dont like the look of it, and its actually slightly slower than the ISF in the 1/4. i already have a BMW. i want some variety. i have an E55 amg. that is my go fast bullet. i dont need a C63 because i already have a MBZ. lexus or a caddy. lexus would be a fun lease. get it. 3 years later. dump it. at least i know my car wont visit the shop like my BMW has over the last 3 years...