| Author |
Message |
John Bicsak (Funshipone)
Junior Member
Username: Funshipone
Post Number: 170
Registered: 1-2002
| | Posted on Thursday, January 16, 2003 - 7:37 pm: | |
Hello Rick I spoke with the salesman at Jack Cauley and this is suppose to be a good deal.
A 2 year lease 10,000 miles per year $3600.00 down of which $1800.00 for first month payment and second $1800.00 is securty deposit that could be returned if car is ok at end of lease.
Remaining 23 payments at $1800.00 if interested email me. |
The Ferrari King (Theferrariking)
New member
Username: Theferrariking
Post Number: 42
Registered: 1-2003
| | Posted on Thursday, January 16, 2003 - 4:43 pm: | |
Premier may be able to find you a low mileage/low price one as well as they write mucho paper on exotics and know everyone who is anyone.
King |
The Ferrari King (Theferrariking)
New member
Username: Theferrariking
Post Number: 41
Registered: 1-2003
| | Posted on Thursday, January 16, 2003 - 4:41 pm: | |
With no idea as to the depreciation of a new model I would say that a 50% residual is being conservative and good business on their part. A three year residual on a secondary market 360 Spider is about 70% with a cost of money of about 6% and change. Regardless of the high (good) residual in the 360's case (that is high btw, Bentleys are written at 50% over five years) the payments will be staggering - you are floating a big chunk of cash there, eating depreciation and paying interest on all of it. Just find a lease calc on line and run the numbers yourself. Or give Katz a call at Premier. He is probably as % competitive as anyone.
King |
TomD (Tifosi)
Intermediate Member
Username: Tifosi
Post Number: 2336
Registered: 9-2001
| | Posted on Thursday, January 16, 2003 - 3:58 pm: | |
sounds bad - first - I heard that they are discounting cars under sticker (don't know if this is true?) second you are paying 56k over two years to drive a car worth 80k and you have nothing after two years. Genrally short leases (24 months) are bad becuase the majority of depreciation occurs in the first year or two and they are forced to recover it from you. I would say try a 36 month lease with 8k down and you should get close to 1k to 1100 per month. That is what you will get on a 36 month lease of an 84k MB S500. This way you have a car for 3year and pay 48k total. |
Gene Agatep (Gagatep)
Junior Member
Username: Gagatep
Post Number: 168
Registered: 8-2002
| | Posted on Thursday, January 16, 2003 - 3:32 pm: | |
Rick,
actually it doesn't sound that crazy....
the $8000 down is for tax and licensing (10%)
so you practically receive the car for free.
the monthly $2K for 24 months is the depreciation
value of the car and the time cost of money - ($48K total).
declare it into a company car and earn some tax deductions - then you may justify the expense even more (BTW - disclaimer - i'm no tax accountant) |
Mitchell L. Davidson (Jussumfastgi)
Member
Username: Jussumfastgi
Post Number: 362
Registered: 4-2002
| | Posted on Thursday, January 16, 2003 - 2:11 pm: | |
It's simple. They know that their cars will be worth nothing used, so they give you low residuals. They have to... |
ELI (Titanium360)
Member
Username: Titanium360
Post Number: 261
Registered: 4-2002
| | Posted on Thursday, January 16, 2003 - 1:07 pm: | |
Rick:
i remember seeing someone posting a 36 month lease of $1200 per month. Look at the last Maserati post |
RICK ROMERO (Tr90)
Junior Member
Username: Tr90
Post Number: 149
Registered: 4-2001
| | Posted on Thursday, January 16, 2003 - 1:03 pm: | |
I just got off the phone with my dealer and he gave me these figures:
$84,000 sticker
24 month lease
$2000 per month
$8,000 down
Am i missing something or are they crazy? |
TomD (Tifosi)
Intermediate Member
Username: Tifosi
Post Number: 2334
Registered: 9-2001
| | Posted on Thursday, January 16, 2003 - 12:01 pm: | |
hard to say since they are not advertised in the paper - as discussed before - leasing is not diff than buying - nego the best price for the car (don't tell them lease), then find out the money factor and residual for a lease. You want a money factor that translates into a reasonable interest rate - most IR prob about 8%, though manufactures (prob not maser) will "subvent" this rate to bring it down sometimes to 0. Then get a reasonalbel residual - ie after 2 years the car is worth XX of its orginal price - say 80%. then you are done. You are better going and getting the terms and letting people opine on it then |
Howie/ExoticAutoBrokers.com (Brokerofexotics)
Member
Username: Brokerofexotics
Post Number: 344
Registered: 11-2001
| | Posted on Thursday, January 16, 2003 - 11:55 am: | |
Since the car is new, your best source for leasing would probably be the dealer. |
RICK ROMERO (Tr90)
Junior Member
Username: Tr90
Post Number: 148
Registered: 4-2001
| | Posted on Thursday, January 16, 2003 - 9:34 am: | |
Yes it isa new car and the credit is not an issue. |
Howie/ExoticAutoBrokers.com (Brokerofexotics)
Member
Username: Brokerofexotics
Post Number: 343
Registered: 11-2001
| | Posted on Thursday, January 16, 2003 - 9:29 am: | |
Rick,
Is the car new? Amount of payment will vary depending your credit history. |
RICK ROMERO (Tr90)
Junior Member
Username: Tr90
Post Number: 147
Registered: 4-2001
| | Posted on Thursday, January 16, 2003 - 8:02 am: | |
Does anyone know what is the best deal around on a 02 coupe for a 24 month lease no money down? |