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How is everybody paying for their new 2008 C class??? Cash? MB Financing? Lease2own?

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How is everybody paying for their new 2008 C class??? Cash? MB Financing? Lease2own?

 
Old 11-12-2007, 04:27 PM
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2008 - S550 4Matic, 2010 - E350 4Matic, 2010 - C350 4Matic
Hi peabers:

Yes you can get any type of loan at a Canadian bank, but not car LEASE financing. Canadian Banks are prohibited from auto leasing.

The export clause is on a standard MB purchase agreement. Maybe if you buy from an independent dealership it is not.

It comes from the time when you could make a quick buck selling your car in the good USA. Not at this time, at least.

I have no intentions to sell my cars in the USA, so it didn't bother me to sign. If I did get a better deal in the USA, I would be able to do it anyway, after 12 months.

Jorg
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Old 11-12-2007, 04:30 PM
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If you're buying an SL either you've got the income to cover the payment. Or you're paying cash outright.

I know two people with monstrous 100k+ cars that lease and have a mortgage sized lease payment. But don't care because they're young stupid and single.

The only other person I've known, who was an acquaintance through a friend, that's had a 100k+ car was a Ferrari guy. He bought his on what he called "luxury loan", which was an extremely long loan term. Like 15yrs. I don't know what the real term for this is but he said the interest was a bit higher than normal loans, but not outrageous.

Anyway, I guess the demand for Ferraris is so high, that he buys one, drives it for 5-6k miles and then the local dealer will call him up every time somebody comes in and doesn't want to be on the waiting list. Then he'll sell it for about the same as what he bought it for and wait for his turn on the waiting list again. He claimed that he'd done it off an on since the early 90's and each time he buys one he fully expects that he'll keep that one forever. But then the dealer calls with some really rich impatient buyer that makes it worth his while.
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Old 11-12-2007, 04:51 PM
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I bet the leasing issue on diriving out of country is more of a CYA thing for them. I mean, I haven't read my auto insurance policy, but it might not cover trips outside of the country as roads are different, laws are different, etc. They may not hae access to other countries law enforcement databases and customs information that we would here, thus they risk exportation of a car out of a port that they can't monitor, and they're simply stuck with a paper title. Yeah, canada is likely as good or better with that then the USA, but for every Vermonter going to Montreal is another Californian going down to Cabo or TJ. And the finance companies assume certain risks in the USA that may be out of whack you consider the risks associated with Tiajuana.

I dunno, likely just stuffy red tape, and borne from some overzealous lawyer's writing of policy, but nevertheless is likely grounded in some basis somewhere.
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Old 11-12-2007, 05:08 PM
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Financed through my CU at 5.25%. Debated on leasing, too, but I really couldn't pass up the rate.
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Old 11-13-2007, 01:00 AM
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(C350 4 Matic + P-package + quick park) Pay CASH CAD $64000 discounted ($2000) on the road.

if leasing , i feel this vehicle is not my own , like rental someone's vehicle to drive !!! (that's my feeling)


hv a nice day MB friend^^
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Old 11-13-2007, 01:58 AM
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Originally Posted by LaicepsYdobon View Post
I like to lease. New car every 3 years. If I own a car I like to sell it before it turns 5 anyway. Leasing seams to be cheaper and also less hassle. My only complaint about MB Financial is it's a pain in the *** taking the car out of the country for a trip. My brother lives in Canada and I like to drive up there but I need to get permission from MB to take the car out of the country.
How they check that you got car out of the country?

Another question, so you can't lease if you do ED, because you pickup a car and Germany and can drive it in many countries.

Last edited by Dema; 11-13-2007 at 02:02 AM.
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Old 11-20-2007, 12:45 PM
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Originally Posted by MBTex View Post
Buying mine...4.9% interest rate through my credit union. The regular rate is 5.7% but I'm putting 20% down on the car so they gave me the better rate..

I used to lease cars when I owned my own business and it was great then because of the tax advantages. Now I prefer to build equity in the car and don't want to be limited to mileage requirements (I have a 30 mile daily commute) so I buy...even though I plan on buying another MB in a few years.
GOOD rate, I got 5.25% X 60 months
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Old 11-20-2007, 02:41 PM
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Originally Posted by tanktube67 View Post
GOOD rate, I got 5.25% X 60 months
Yeah well mine settled at 5.25 as well. The car took so long to get here the rates went up. I wonder if I should send MB a bill every month for the extra $20?
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