rb23lb

How is everybody paying for their new 2008 C class??? Cash? MB Financing? Lease to own?

I have the money to do any of the options to pay but am wondering which way will most likely get me the cheapest price OTD... The dealer told me if I waited and ordered, it would be "VERY" possible that I could get my target price of $4685 off MSRP...

I am planning on owning this car since I don't own a business to write off the lease...

My car arrived today at the dealer and he said they are detailing it and it should be ready Friday for pickup...

Also, so I have to pay, tax, tags, the advertising fee... any other fees out there that might come up on the invoice at the end??? I am trying to become as educated as I can so I don't get tricked by a dealer throwing on some BS fee...

Thanks in advance for your answers!

Kieffer

I'm leasing mine. I get new car fever every 2-3 years, so it's cheaper for me to lease.

I'm probably going to use leasecompare.com unless I can use their quote to get an equally good deal out of Mercedes financial. For my local area, there were two banks that quoted lease rates that were significantly cheaper that MB's rates. I'm a bit nervous about going through a service like this, but it seems to have received some good reviews from people who have used it before. We'll see...

Metric AW550

I'm financing mine through MB.

LaicepsYdobon

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.

Stiggs

The rates through MB suck right now. My Fiance was quoted around 6.9% for 5 years. I think we are going to try through her credit union. Not sure if it will be any cheaper.

marakbai

what? really? never heard of that problem ... just for a regular visit? crazy.

I'm leasing btw ...though I do alot of K's I get the new car itch every 4 years, so buying is not an option

MBTex

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.

Stiggs

Wow....5.7% is way better than the 6.9% I was quoted by the dealer.

NO_WUR_E

If you're going to finance, you might want to consider a Credit Union since they usually have a fairly good rate. My credit union here in California is 5.6% on a new auto loan.

MBTex

Yeah the MB Financial rates are pretty high right now. I got a good rate because of my past history with the credit union, the cash I have on deposit there, and because I'm putting 10K in case down on the car.

LaicepsYdobon

Yeah its a little insane with them. This past summer I drove up to Montreal for the F1 race and I had to submit the following:

• Days leaving and re-entering the US
• Proof of insurance coverage while up in Canada
• Name, address and phone number of hotel where staying

All of this was pretty reasonable I thought so I didn't make a big deal out of it; after-all technically its not my car. Then a few month later I've put in another request for going back up there but this time they wanted all of the above plus 3 letters of recommendation telling them that I was trust worthy for taking the car out of the country and bringing it back. I responded that by me paying the monthy lease price should be enough to demonstrate my trustworthiness but according to them it isn't.
The funny thing is that at the border they never ask who's car it is and they never ask for proof of ownership nor a letter of permission from MB financial.
And one more thing; you can only take your car out of the US for no more then 5 or 7 days (I forgot which). If you want to go one a two-week driving trip with your car to Europe they will tell you to fly and rent a car there.

Jorg

It is amazing to read the differences between the USA and Canada. If "snow birds" were not allowed, to take their leased vehicles, for more than 7 days, to the USA, most would have to hitch hike to Florida.

Canadian Banks are not allowed to write automotive leases.

We have to sign a note, in our sales contract that we purchase the car, but agree not to export the car. I have a problem with that. After I pay for the car, it is mine and I should be able to do with it what I like. If I want to sell my car in the USA, why should I be prohibited from doing so?

Jorg

STLTH_AMG

I never knew that! I always travel to Canada and never ever did I ask permission from MB financial. They never ask at the border so why bother!! How would MB know anyways!
I think unless ur exporting to a foreign country outside of the US and Canada, you will not get hassled about the car papers.

oblu

That's hilarious. I go up to Vancouver all the time and would've never even considered it ... not that I'm going to bother with it in the future.

I thought technically you don't own a car when you're financing it regardless of lease or traditional loan?

MBTex

That depends on the local law depending on what country (or US State) you are in. Some US States are "Lien Theory" States where you have title, but it is subject to the lender's lien.

peabers

Not true, actually... I have arranged for financing from BMO Bank of Montreal. Got a variable rate loan at posted rate. Better than I could get from MB Credit.

I didn't have to do that. And why would they suspect that you would sell it to the US? You're going to lose at least $9K. I can see MBUSA making all buyers in the US sign those agreements to stop the flow of cars to Canada.

LaicepsYdobon

Yeah it's pretty silly. There were occasions where they didn't even send me a letter permitting me to take the car out of the country and I wasn't about to cancel my trip because of it. You are right though; A) they would never know and B) nobody ever asks at the border. I guess the only way MB would know is if you get into an accident up in Canada. I wonder what the consequenes, if any, would be ?

marakbai

this is all so crazy ... that's why you have insurance ... I can't believe MBFinancial would care about that stuff ... who knew

marakbai

I was wondering what private financing rates were ...can you share? Interest rates are the best way to save $ on this car.

peabers

Posted rate is 6.25%. That's public knowledge (on the web-site). I don't think they would go below that for loans. Mortgages, maybe 1.5% below posted.

Or you can try a Credit Union which usually offers lower rates.

Canoe Money maintains a list of non-manufacturer Car Loan providers in Canada.

maytag

Mind if I ask who is your CU, we're only getting 6.5% from Tech CU also located in the Bay Area and pretty sure our credit is flawless. -thanks

peabers

maytag -- arranged my financing from the Bank of Montreal here in Toronto. They're offering me 6.25%.

The Benz

I financed through a Teacher's CU, at 6.0% for 60 mos. It would be 5.75% for 48 mos.

MBTex

<<<this is all so crazy ... that's why you have insurance ... I can't believe MBFinancial would care about that stuff ... who knew>>>

It isn't about insurance or accidents...it's about them not wanting to search the globe for your car if you default on your loan.

Krytech

Great thread. I was wondering how people were financing these cars. I got 5.85% for 60mo at a CU we use for auto loans. I've leased before in the past, but not a good option for me anymore.

The real question is, how do people buy a SL65 AMG?! Since money is cheap to borrow, do they really put a significant amount down? I can't imagine a $4000/mo car payment... but I can dream about being able to 'afford' one.