Another Lease Turn in ?

[Buffalo7]

How does it work when you have leased through someone other than MB Finance? We have an 08 ML 320 w/ 42K due to be turned in Dec. and the residual is in our favor at this point. US Bank (Yes that US Bank) shared that we can take can have the dealer call for the trade off value ? So if we leased through the dealer they have to know the residual and they are going to now know this trade off #. Where does that leave me the customer in the deal if I thought I have some upside here towards a new lease or purchase? Thanks for the advice in advance - this forum always seems to have those in the know.

To remove this ad, register today or login if you already are registered!

[LeaseCompare]

Originally Posted by Buffalo7

How does it work when you have leased through someone other than MB Finance? We have an 08 ML 320 w/ 42K due to be turned in Dec. and the residual is in our favor at this point. US Bank (Yes that US Bank) shared that we can take can have the dealer call for the trade off value ? So if we leased through the dealer they have to know the residual and they are going to now know this trade off #. Where does that leave me the customer in the deal if I thought I have some upside here towards a new lease or purchase? Thanks for the advice in advance - this forum always seems to have those in the know.

As a USB dealer we can also obtain your lease payoff and assist you with either selling it or using it as a trade-in on a new vehicle.

Is you intention to do one of the above?

[Buffalo7]

Yes, so it's a matter of arriving at the selling price or trade-in value. Thank you.

[LeaseCompare]

Originally Posted by Buffalo7

Yes, so it's a matter of arriving at the selling price or trade-in value. Thank you.

Those are independent of your actual payoff. Knowing the final payoff will help determine whether to turn it in, sell it or trade it in.

[Buffalo7]

If the ML 320 is retailing from 36-39K with this type of mileage and our residual or lease in purchase price is 27.9K. We will have all but paid off the remaining payments.
I don't plan to buy the ML, would like trade it towards a new ML. Sales tax on the equity portion? I guess it's called equity or trade in.
Anyway feel for once I'm on the right side of the deal and would like to see a sample of how the transaction would go?
Thank you for the help-

[LeaseCompare]

Originally Posted by Buffalo7

If the ML 320 is retailing from 36-39K with this type of mileage and our residual or lease in purchase price is 27.9K. We will have all but paid off the remaining payments.
I don't plan to buy the ML, would like trade it towards a new ML. Sales tax on the equity portion? I guess it's called equity or trade in.
Anyway feel for once I'm on the right side of the deal and would like to see a sample of how the transaction would go?
Thank you for the help-

Once you determine the vehicle you want to get next (we can help with that) we will then confirm your payoff and finalize details of the deal.