Dealer made me a lease offer on a 2002, what you guys think?
08-29-2002, 11:22 AM
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Dealer made me a lease offer on a 2002, what you guys think?
Hey everybody,
I'm on the brink of leasing a 2002 C230k and I would like your opinion on this "deal" that a dealer offered.
2002 C230k
Orion
Oyster Leather
Auto
C2
C7
MSRP 30,700
Will Let it go for 28,500
Lease, with 3k down, including taxes, ect...
48months-$360
What do ya think?
It seems pretty reasonable to me.
Thanks guys!!!!
I'm on the brink of leasing a 2002 C230k and I would like your opinion on this "deal" that a dealer offered.
2002 C230k
Orion
Oyster Leather
Auto
C2
C7
MSRP 30,700
Will Let it go for 28,500
Lease, with 3k down, including taxes, ect...
48months-$360
What do ya think?
It seems pretty reasonable to me.
Thanks guys!!!!
08-29-2002, 11:27 AM
#2
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Location: Houston,TX-moving to The Woodlands,TX SOON!!!
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Toyota Tacoma & Lexus IS250
seems good to me...what about the residual value...?
can they give you a purchase price at the end of the lease ? just in case ya wanna buy it.
can they give you a purchase price at the end of the lease ? just in case ya wanna buy it.
08-29-2002, 07:54 PM
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Word of caution, salesmen are not your friends, they are out to make a buck! We cannot tell you a good deal because we do not have all the specifics, money factor, term length, residual, transaction costs, open-ended, etc... Go and look up lease education sites, like http://beatthecarsalesman.com/ and learn about all the factors that go into lease purchases! It is long but will save you money and you would be surprised how easy it is to learn how to calculate leases and the factors that go into them!
08-30-2002, 02:35 AM
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2000 300m, 2003 C-Coupe
Leasing can be tricky. The price of the car is good, here are some things to consider...
At 360/mo for 48 month = 17280 in lease payments add 3000 down payment = 20280 total 'rental' fee.
Assume residual is 55% at 48 months = $16,885 residual. To buy the car you pay 16885, total investment to own is 37165. If you finance assume maybe 1500 more, used car rates.
Next, assume the car hold a high resale, at least higher than the residual value (typical with MB, depending on your area market). You could sell it near the end of the lease and make some cash for a down on a 2006.
Buying the car at 28500 - 3000 = 25500 or about $510/mo
Total $30,600 over 60 months at 510/mo and she is yours. Total cost to own 33,600.
All numbers are estimates and will vary base on interst rates and such. I think in the scenario where you would buy out the lease at the end of term, you will spend more money than a simple loan. Leasing makes most sense if you can write off the car for business, if you trade in 2 or 3 year cycles, or if you like to rent your cars. It's convenient to have lower payments, but you may lose in the long run.
At 360/mo for 48 month = 17280 in lease payments add 3000 down payment = 20280 total 'rental' fee.
Assume residual is 55% at 48 months = $16,885 residual. To buy the car you pay 16885, total investment to own is 37165. If you finance assume maybe 1500 more, used car rates.
Next, assume the car hold a high resale, at least higher than the residual value (typical with MB, depending on your area market). You could sell it near the end of the lease and make some cash for a down on a 2006.
Buying the car at 28500 - 3000 = 25500 or about $510/mo
Total $30,600 over 60 months at 510/mo and she is yours. Total cost to own 33,600.
All numbers are estimates and will vary base on interst rates and such. I think in the scenario where you would buy out the lease at the end of term, you will spend more money than a simple loan. Leasing makes most sense if you can write off the car for business, if you trade in 2 or 3 year cycles, or if you like to rent your cars. It's convenient to have lower payments, but you may lose in the long run.
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08-30-2002, 11:43 AM
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No LEASE for YOU
Totally Agree with grn300m.
Leasing makes no economical advantage in your case. You pay nearly as much as buyng and still have no car. Beside i am sure you will be nickel and dime at lease end. add another 750 to you real cost
Leasing makes no economical advantage in your case. You pay nearly as much as buyng and still have no car. Beside i am sure you will be nickel and dime at lease end. add another 750 to you real cost
