Lease end buy out
Thread Starter
Member
Joined: Nov 2003
Posts: 126
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From: San Antonio, TX
none
Lease end buy out
Right now I'm in Iraq and don't have the means to effectively communicate with MB Financial, so I wanted to ask your guys' opinions.
Currently I have an 06 CLK-350. The lease ends in March. By lease end I will just a little shy of getting all of my allowed miles on the car (about 33K, I think). The buy out price, from what I recall is about $27K, while similar vehicles can be found on the "Bay" for $20-22.
So, from your experience, whould it be possible to negotiate/change the buy out price price with MB Financial? Do they ever budge that much from the contract? Does the current state of economy have any effect on this? The way I see it, MB will end up putting the car on auction, where some "Bay" wholesaler will end up getting it for $18-19K and will sell it later for $22-23. I figure that if I can't buy it from MB for cheap, then I'll go used AMG from the "Bay".
What are your thoughts?
Currently I have an 06 CLK-350. The lease ends in March. By lease end I will just a little shy of getting all of my allowed miles on the car (about 33K, I think). The buy out price, from what I recall is about $27K, while similar vehicles can be found on the "Bay" for $20-22.
So, from your experience, whould it be possible to negotiate/change the buy out price price with MB Financial? Do they ever budge that much from the contract? Does the current state of economy have any effect on this? The way I see it, MB will end up putting the car on auction, where some "Bay" wholesaler will end up getting it for $18-19K and will sell it later for $22-23. I figure that if I can't buy it from MB for cheap, then I'll go used AMG from the "Bay".
What are your thoughts?
Super Member
Joined: Apr 2008
Posts: 635
Likes: 2
From: Cali
2011 GL450
I could be wrong, but I was told that the buy out price is negotiable. Like you said, the car will be sent to auction so they would rather deal on a price and have you keep it (although, they really want to get you into a new one) if they know you are going to walk away and not lease a new one I bet they negotiate the price of your buy out for you. GL! And be safe in Iraq!
MBWorld Fanatic!
Joined: Jan 2008
Posts: 1,321
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C300 Sport/Palladium Silver on Black/P2
I have heard a lot of people say they won't move on the price, but I have heard others say that MBF straight-up offered to take a couple thousand off the price. I would certainly ask, if it is something you would like to consider.
However, I would not get my hopes up.
However, I would not get my hopes up.
Newbie
Joined: Dec 2008
Posts: 6
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CLK 350 Cabriolet
I was in almost the exact same situation as you: similar car, same year, etc. End of story is that they did in fact negotiate on the residual and I bought my car for less than Blue Book. This happened just last week. See my original thread for details . . .
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Former Vendor of MBWorld
Joined: Jan 2005
Posts: 583
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From: Cincinnati, OH
There is a limit on how far they will go. The best strategy is to let them call you and act disinterested in buying it. The more they know you want to buy it, the less they will tend to negotiate.
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Junior Member
Joined: Apr 2007
Posts: 23
Likes: 0
From: Boston
They have told me that the reps on the phone dont have the authority to negotiate, but that the man in the windowless room sets buyout prices at least monthly based on the wholesale auctions.
My R-500 with a 40,500 residual was offered to me at $26.5k 3 months before lease end. I kept calling back, and it kept dropping - now down about $3k from that price. The amount is in the system, and they just offer it up.
My R-500 with a 40,500 residual was offered to me at $26.5k 3 months before lease end. I kept calling back, and it kept dropping - now down about $3k from that price. The amount is in the system, and they just offer it up.
