lease up
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Newbie
Joined: May 2006
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From: south san francisco
2006 e55
lease up
good day all.
trying to get some advise due to my lease is expiring in may 2009.
i've got a 2006 e55 with 20k miles on it. it was a 39 month lease.
trying to figure out if i should turn it back in or buy it out.
any suggestions would be appreciated.
also if i buy it out, what would a fair price be?
thanks in advance
trying to get some advise due to my lease is expiring in may 2009.
i've got a 2006 e55 with 20k miles on it. it was a 39 month lease.
trying to figure out if i should turn it back in or buy it out.
any suggestions would be appreciated.
also if i buy it out, what would a fair price be?
thanks in advance
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From: South Carolina
2005 E55 ///AMG
You probably should list the options you have on it.
Sounds like a super clean low miles 2006...with decent options I would think 40-45K. 2005s are going in the 30s right now.
Sounds like a super clean low miles 2006...with decent options I would think 40-45K. 2005s are going in the 30s right now.
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From: THE Orange County, California
2024 C8 Z06- 2025 BMW CS- 2022 Porsche 992 GTS
What bank are you with leasewise?
From a residual standpoint- I am sure the buyout price is crazy especially if its MBCC. MBCC has just woken up but in the past they would elevate residuals higher along with their money factors. Im sure you fall into this category if you were with MBCC. Unless they are willing to negotiate, give it back!!!!
From a residual standpoint- I am sure the buyout price is crazy especially if its MBCC. MBCC has just woken up but in the past they would elevate residuals higher along with their money factors. Im sure you fall into this category if you were with MBCC. Unless they are willing to negotiate, give it back!!!!
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From: Ventura County USA
'06 E55, '05 SLK55, a few others
Unless you got the total bend over up front, listen to Vic. My '06 is about up too and the buy out from MBCC is AT LEAST 20K more than it's worth. They're freakin', but they aren't even in the ballpark to get me to consider keeping it. 
Joined: Apr 2006
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From: LHC, Arizona
2024 GLE 63 S Coupe 2020 E 63 S
The only benefit to buying out a leased vehicle in this economy right now is that you know the history behind the car if you got it brand new. Otherwise it is way too expensive, like 15k too expensive.
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From: Ventura County USA
'06 E55, '05 SLK55, a few others
Sounds about like the deal I got when they were blowin' out the '06's. Although it was almost 20K less than an '07 E63, and the payments are about 1K, but the buyout is hideous. Run, don't walk away. Or, wait till they're stuck with mine for a month or 2 and get another '06 with even less miles for $$$ less than your (or my) residual. 
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2024 C8 Z06- 2025 BMW CS- 2022 Porsche 992 GTS
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2015 AMG C63 S
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From: Atlanta
06 E55 Black
MBWorld Fanatic!
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From: Ventura County USA
'06 E55, '05 SLK55, a few others
I'm feeling a CPO Range Rover or Escalade in my future, not a ML63 or GL550.
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From: N.J USA
2010 E550.. Gone but never forgotton - E63 AMG..
No they will not. The only "deal", get this, is to graciously "allow" me to turn it in early and not pay the $250.00 "return fee" and skip the last few payments,,,,,,,,,,,,,,,,,,,,,as long as I lease or buy another NEW MB, not even a CPO car. I'm feeling a CPO Range Rover or Escalade in my future, not a ML63 or GL550.
I'm feeling a CPO Range Rover or Escalade in my future, not a ML63 or GL550.I spoke to my dealer a few weeks ago and he informed me that they will " definitely work that number down " I was told that due to the current economic times
And also due to the fact that the new E class will be out way before Jan of 2010, I will get a much better deal, IF I wanted to keep the car. We'll see.
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From: THE Orange County, California
2024 C8 Z06- 2025 BMW CS- 2022 Porsche 992 GTS
Finish the lease and get a new car. Im doing the same with my M6- while I love the car, the residual at the end of 24 months is a whopping 75k The car is selling at the auction right now for 50k and I still have a few payments left.
The only thing I may do and you will have to press MBCC, is to negotiate the buyout price. But with MBCC you have to buy the car versus BMWFS where I can release the car with the new net cap.
Either way you are good since you dont own your car.
The car is selling at the auction right now for 50k and I still have a few payments left. The only thing I may do and you will have to press MBCC, is to negotiate the buyout price. But with MBCC you have to buy the car versus BMWFS where I can release the car with the new net cap.
Either way you are good since you dont own your car.
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From: Ventura County USA
'06 E55, '05 SLK55, a few others
Yes they will negotiate! My 08 E63 fully loaded except for the P30 is due back on January of 2010. My residual is 61,000 $
I spoke to my dealer a few weeks ago and he informed me that they will " definitely work that number down " I was told that due to the current economic times
And also due to the fact that the new E class will be out way before Jan of 2010, I will get a much better deal, IF I wanted to keep the car. We'll see.
I spoke to my dealer a few weeks ago and he informed me that they will " definitely work that number down " I was told that due to the current economic times
And also due to the fact that the new E class will be out way before Jan of 2010, I will get a much better deal, IF I wanted to keep the car. We'll see.
Maybe it's different on the E63 VS E55, but I was already told no. It might also be because my residual is so high (over 60K), I dunno. For me it really doesn't matter since I wouldn't keep it unless they were practically giving it away. Maybe the repair history is a factor?
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From: THE Orange County, California
2024 C8 Z06- 2025 BMW CS- 2022 Porsche 992 GTS
Maybe it's different on the E63 VS E55, but I was already told no. It might also be because my residual is so high (over 60K), I dunno. For me it really doesn't matter since I wouldn't keep it unless they were practically giving it away. Maybe the repair history is a factor?
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From: Witness Protection
BMW 540i
a friend of mine has an '07 E500 coming off lease soon. The buyout is $42K, and the dealer told him $35-36K should get the deal done
Administrator
Joined: Nov 2001
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From: THE Orange County, California
2024 C8 Z06- 2025 BMW CS- 2022 Porsche 992 GTS
Administrator
Joined: Nov 2001
Posts: 12,263
Likes: 901
From: THE Orange County, California
2024 C8 Z06- 2025 BMW CS- 2022 Porsche 992 GTS
Here are values today:
01/27/09 FAAO Lease $33,250 35,807 Avg CPR BLU 8G A Yes
01/22/09 MANHEIM Regular $27,250 51,437 Avg BLACK 8G A Yes
01/21/09 SEATTLE Lease $33,000 39,126 Avg PEWTR 8G A Yes
01/20/09 FAAO Lease $29,000 38,005 Avg SILVER 8G A Yes
01/20/09 BIG H Regular $29,700 49,905 Avg NONE NON N Yes
01/15/09 RIVRSIDE Lease $39,500 6,011 Above DRK BLUE 8G A Yes
01/15/09 DFW Regular $31,100 38,199 Avg SILVER 8G A Yes
01/14/09 W PALM Lease $32,200 37,477 Avg BLACK 8G A Yes
01/14/09 W PALM Lease $25,200 41,795 Below SILVER 8G A Yes
01/08/09 MANHEIM Lease $34,500 37,661 Avg BLACK 8G P Yes
01/07/09 NASHVILL Lease $33,750 34,509 Avg IRI SIL 8G A Yes
12/30/08 RIVRSIDE Lease $26,000 31,632 Below BLACK 8G A No
MBWorld Fanatic!
Joined: May 2004
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From: orange county, ca
2006 E55
wow....I was hoping to keep the car, but maybe I should walk away. My mileage is low (23K) so I dont know if that makes a huge difference or not. I dont foresee it going over 30K miles by the end of the agreement.
I was told I would get the money I paid for the extended warranty back, so that would be an extra $3875 back in my pocket (I hope).
Thanks Vic. I'll definitely ask again near the end of summer. I just wanted to start thinking about it now and not put it off.
I was told I would get the money I paid for the extended warranty back, so that would be an extra $3875 back in my pocket (I hope).
Thanks Vic. I'll definitely ask again near the end of summer. I just wanted to start thinking about it now and not put it off.
Administrator
Joined: Nov 2001
Posts: 12,263
Likes: 901
From: THE Orange County, California
2024 C8 Z06- 2025 BMW CS- 2022 Porsche 992 GTS
wow....I was hoping to keep the car, but maybe I should walk away. My mileage is low (23K) so I dont know if that makes a huge difference or not. I dont foresee it going over 30K miles by the end of the agreement.
I was told I would get the money I paid for the extended warranty back, so that would be an extra $3875 back in my pocket (I hope).
Thanks Vic. I'll definitely ask again near the end of summer. I just wanted to start thinking about it now and not put it off.
I was told I would get the money I paid for the extended warranty back, so that would be an extra $3875 back in my pocket (I hope).
Thanks Vic. I'll definitely ask again near the end of summer. I just wanted to start thinking about it now and not put it off.
EG: you buy a 5 year warranty for 5k but cancel it at year 3 (exactly after 24 months has elapsed) you would get back 60% of the price minus adminstrative costs (3k minus costs). Also the cancellation is based on time or miles whatever is more so if you your time elapsed was less but the percentage of miles used was more they would use the value that pays you back less.
I am not sure what exact parameters you have with your warranty but these are generalizations.
