How is everybody paying for their new 2008 C class??? Cash? MB Financing? Lease2own?
Member
Joined: Sep 2007
Posts: 184
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From: Ontario, Canada
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
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
Super Member
Joined: Jul 2007
Posts: 616
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From: Kirkland, WA
c300
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.
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.
Member
Joined: Oct 2007
Posts: 184
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From: Northern NJ
C3004Matic Sport, Blk on Blk, Pano, P1, MMC, Ipod
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.
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.
Member
Joined: Oct 2007
Posts: 118
Likes: 0
From: Toronto CANADA
08 C350 4Matic -Premium- Comand NAV-Keyless-GO-Panoramic-Rear Win Sunshade-Memory seat-Quickpark-AMG
(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^^
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^^
MBWorld Fanatic!
Joined: Jul 2002
Posts: 2,677
Likes: 3
From: California
i535
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.
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; Nov 13, 2007 at 02:02 AM.
MBWorld Fanatic!
Joined: Nov 2007
Posts: 4,433
Likes: 5
From: SFV CA
2008 Black Out C350 Saks Edition / 87 VW GTI
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.
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.
MBWorld Fanatic!
Joined: Jul 2007
Posts: 1,104
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From: San Antonio
2008 C350
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