MB Financial Lease Assumption Problem
07-11-2013, 04:06 AM
#26
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Join Date: May 2013
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Debbie,
Really don't bother! I tried with MB and it was a nightmare. Not sure if there are any BMWs you like, but they made the process so smooth. Handling all the paper work ahead of schedule and extremely well--Really I can't say enough about the kind of service they delivered at every step in the multi step process.
Really don't bother! I tried with MB and it was a nightmare. Not sure if there are any BMWs you like, but they made the process so smooth. Handling all the paper work ahead of schedule and extremely well--Really I can't say enough about the kind of service they delivered at every step in the multi step process.
08-06-2013, 04:54 PM
#27
Super Member
Join Date: Nov 2005
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'19 G63 Ed 1,'18 M5, '16 G63,'12 458 , '11 E63, Brabus SL55-K8, '10 S63, '94 E500 "Wolf", '91 560SEC
Just went through this crap today as well on a Mercedes lease transfer. Upper 800's scores denied. Applied again with a consignor with upper 800 score as well, they denied it again. Nobody ay MBFS can give an answer.
Oh well off to the BMW dealer to build my '14 M5, they just called saying they have an allocation.
Oh well off to the BMW dealer to build my '14 M5, they just called saying they have an allocation.
01-14-2015, 01:46 PM
#28
Newbie
change?
ok so i have great credit! and I'm on swap lease and just found the perfect car! 15 months left and around 600 a month! so lets see if i dont get approved! i sent this link to the owner of the current lease. I hope MB has changed the auto deny
01-26-2015, 11:24 AM
#29
Member
Result with MBFS??
DRP
04-28-2015, 06:03 PM
#30
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Join Date: Apr 2015
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MB GLK
Class Action Anyone??
I wish I had read this forum before I leased my MB GLK! I had never leased a car before but as I only average about 10K miles a year, I gave it a try.
I am now moving to the UK with 13 months left. I found a friend of a friend who has just been transferred from Hawaii to LA for a year & wants to take over the lease. MBF denied him, no reason. We assumed because he was from the UK & had never financed a car/house in the US might be the challenge although he had established a strong credit card history and has a substantial income... higher than my own. We BOTH have credit scores in the 800's!!!
He then offered cash up front to pay for the remainder of the lease. Nope!
As time is running out, I elected to co-sign for him as I trust our mutual friends judgment. He was STILL denied. I now have to sell my car to Carmax for a $3K hit. MB was going to give me the same as the remainder of my lease at a $6K Hit.
I will NEVER EVER buy/lease/anything MB again and will discourage anyone within ear shot the same. And given this chain started 5 years ago with people STILL being screwed over... I believe we are justifiable in establishing a Class Action suit!!! Did anyone else take a financial hit because of MBF's impossible credit requirements?
I am now moving to the UK with 13 months left. I found a friend of a friend who has just been transferred from Hawaii to LA for a year & wants to take over the lease. MBF denied him, no reason. We assumed because he was from the UK & had never financed a car/house in the US might be the challenge although he had established a strong credit card history and has a substantial income... higher than my own. We BOTH have credit scores in the 800's!!!
He then offered cash up front to pay for the remainder of the lease. Nope!
As time is running out, I elected to co-sign for him as I trust our mutual friends judgment. He was STILL denied. I now have to sell my car to Carmax for a $3K hit. MB was going to give me the same as the remainder of my lease at a $6K Hit.
I will NEVER EVER buy/lease/anything MB again and will discourage anyone within ear shot the same. And given this chain started 5 years ago with people STILL being screwed over... I believe we are justifiable in establishing a Class Action suit!!! Did anyone else take a financial hit because of MBF's impossible credit requirements?
Last edited by vivigirl64; 04-28-2015 at 06:06 PM. Reason: mis spell
05-25-2015, 11:14 AM
#31
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Join Date: Nov 2009
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BMW
I wish I had read this forum before I leased my MB GLK! I had never leased a car before but as I only average about 10K miles a year, I gave it a try.
I am now moving to the UK with 13 months left. I found a friend of a friend who has just been transferred from Hawaii to LA for a year & wants to take over the lease. MBF denied him, no reason. We assumed because he was from the UK & had never financed a car/house in the US might be the challenge although he had established a strong credit card history and has a substantial income... higher than my own. We BOTH have credit scores in the 800's!!!
He then offered cash up front to pay for the remainder of the lease. Nope!
As time is running out, I elected to co-sign for him as I trust our mutual friends judgment. He was STILL denied. I now have to sell my car to Carmax for a $3K hit. MB was going to give me the same as the remainder of my lease at a $6K Hit.
I will NEVER EVER buy/lease/anything MB again and will discourage anyone within ear shot the same. And given this chain started 5 years ago with people STILL being screwed over... I believe we are justifiable in establishing a Class Action suit!!! Did anyone else take a financial hit because of MBF's impossible credit requirements?
I am now moving to the UK with 13 months left. I found a friend of a friend who has just been transferred from Hawaii to LA for a year & wants to take over the lease. MBF denied him, no reason. We assumed because he was from the UK & had never financed a car/house in the US might be the challenge although he had established a strong credit card history and has a substantial income... higher than my own. We BOTH have credit scores in the 800's!!!
He then offered cash up front to pay for the remainder of the lease. Nope!
As time is running out, I elected to co-sign for him as I trust our mutual friends judgment. He was STILL denied. I now have to sell my car to Carmax for a $3K hit. MB was going to give me the same as the remainder of my lease at a $6K Hit.
I will NEVER EVER buy/lease/anything MB again and will discourage anyone within ear shot the same. And given this chain started 5 years ago with people STILL being screwed over... I believe we are justifiable in establishing a Class Action suit!!! Did anyone else take a financial hit because of MBF's impossible credit requirements?
10-08-2017, 09:22 PM
#33
Junior Member
Just to update my post, an applicant for my black series was finally approved but it was insane how many people applied and were declined. Apparently they are only approving people with near perfect credit and unquestionable income. IMO they should be using the same standards for transfer as they use for a new lease unless they stipulate the exact criteria in the contract. I'm sure someone could successfully litigate this issue if they really wanted to.
04-19-2018, 03:19 PM
#35
Member
04-20-2018, 01:17 PM
#36
Senior Member
Just call to MBFS and ask for a pay-off, so you can buy/finance it. Just don't forget when you buy it, you will still need to pay sales tax when you go to register it (depending on the State you live in).
05-31-2018, 11:20 PM
#37
Senior Member
I am looking at applying to assume a lease in the next several months. I was looking at that as an alternative to purchasing something CPO. I have never financed through a captive lender. I've always paid cash and have never had a lease. I have had one auto loan, and it's still open. However, it's a small payment that I don't pay (it's joint). That monthly payment combined with the leases I am looking at would be under 10% of my monthly income. I guess I should not get my hopes up! Probably better to buy the CPO!
