Leasing a 2005 Mustang 'vert.

Discussion in 'After Hours Lounge (Off Topic)' started by Mark Leiter, Apr 3, 2005.

  1. Mark Leiter

    Mark Leiter Second Unit

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    I am really liking this car. And I have pretty much decided I'd like to lease one. So I went down to the dealership to check them out. What I found out was a little dissapointing but to a certin extent understandable. Basicly all the dealers are marking them up by about $5k over sticker. Long story short the only way to lease one right not would be to put down $2K and make payments of about $640 a month four 36 months.

    I am hoping that after about 6 months or so the hoopla will die down and I may be about to get one at a decent price.

    My question is once there are about 10 billion of these things driving around what can I expect to be able to get as a lease program? Is $300 a month for 30 months and a 15k miles allowance in the ballpark??

    Thanks
     
  2. Steve Schaffer

    Steve Schaffer Producer

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    $300 a month is about what you pay on a high-resale value $20k midsize sedan like a Camry or Accord. I think msrp on the Mustang GT is closer to 30k which would probably mean payments in the nieghborhood of $400-500, depending on downpayment and residual value, probably on a 36 month rather than 30 month lease.

    I think lease payments are also higher on high performance cars than on suvs or sedans at similar msrp, more risk of damage or the car being abused.
     
  3. Shane Martin

    Shane Martin Producer

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    Looks like he mentioned a Convertible which means its more like $35,000.
     
  4. Seth--L

    Seth--L Screenwriter

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    The GT Convertible Premium has a base MSRP of $31,175.00.
     
  5. DonRoeber

    DonRoeber Screenwriter

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    I like the car too, but I can't see paying the dealer premium for a car that I don't desperately need. When I leased a 2000 Mustang 'Vert, I paid $350/month for 36 months. My price was based on the invoice price from the dealer.

    Hold out 6 months or a year, and the price will be much more reasonable. I plan on getting mine then too [​IMG]
     
  6. Mark Leiter

    Mark Leiter Second Unit

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    Yeah, I really have no interest in getting the V8. The convert with the V6 stickers for around $28k. So I hope in about 6-9 months they will be a little more reasonable in there price demands. with a little luck this car will be a hit with the rental agencies. I hear that will bring the residual value up a bit.
     
  7. Seth--L

    Seth--L Screenwriter

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    Are we talking about specialty rental agencies? I doubt a company like Enterprise is going to stock a Mustang seeing that most the cars they offer are POS Chevy's. Their "premium" cars are Buicks and Crown Victorias (probably because they got a good deal from the auto makers since nobody under 65 buys them).
     
  8. todbnla

    todbnla Screenwriter

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    I like these cars too but already see a ton of the hardtops all around, market saturation already!
     
  9. Mark Leiter

    Mark Leiter Second Unit

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    Well in my neiborhood this hasen't happened yet. As of about a week ago my local Ford dealer is putting a $5K "market value adjustment" on every Mustang in stock. Coupe or vert.

    It shouldnt be long till they get there though. Historicaly Ford loves to unload tons of these cars when they are rpecived to be a "hot" car. I wouldn't doubt that in 6 months they'll be begging for people to buy these cars.

    As far as leasing goes. Right now I can get a '05 Caddy SRV for 0 down and 399 a month/36 months. This car stickers for about $45K.

    Given that I dont think that $300 a month is that far out of line for a $30K mustang.
     
  10. Tim Markley

    Tim Markley Screenwriter

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    Actually, Mustang convertibles with the V6 are very popular among rental companies. Try to rent a convertible and it's usually either a Mustang or a Sebring.
     
  11. Shane Martin

    Shane Martin Producer

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    Tim,
    You are reading my mind. Given my wife is in that industry we keep an eye on those things.
     
  12. Kirk Gunn

    Kirk Gunn Screenwriter

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    For 300.00 a month I'd certainly drive one of these.....


    Oh Baby !!!!!
     
  13. Micah Cohen

    Micah Cohen Screenwriter

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    I just read a very good book about Henry Ford ("Wheels For The World" by Douglas Brinkley), and it made me loathe the man. Arrogant, ignorant, and not the super-genius the American Myth Machine has made him out to be. (Vowing never ever to drive a Ford, I then found out that my cheese arse Mazda is, you guessed it, a Ford...)

    Be that as it may, I am seriously in love with this new Mustang. That is one powerful looking car! I feel like Steve McQueen just LOOKING at it!

    After the strong, sharklike Impala SS, in my opinion, this new Mustang is just superb.

    MC
     

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