How is everybody paying for their new 2008 C class??? Cash? MB Financing? Lease2own?
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! :y |
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... |
I'm financing mine through MB.
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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 ass 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.
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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.:nix:
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Originally Posted by LaicepsYdobon
(Post 2470128)
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 ass 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.
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 |
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. |
Originally Posted by MBTex
(Post 2471156)
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. |
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.
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Originally Posted by Stiggs
(Post 2471169)
Wow....5.7% is way better than the 6.9% I was quoted by the dealer.
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Originally Posted by marakbai
(Post 2470428)
what? really? never heard of that problem ... just for a regular visit? crazy.
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. |
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 |
Originally Posted by LaicepsYdobon
(Post 2471371)
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:
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. 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. |
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? :nix: |
Originally Posted by oblu
(Post 2472620)
I thought technically you don't own a car when you're financing it regardless of lease or traditional loan? :nix:
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Originally Posted by Jorg
(Post 2471507)
Canadian Banks are not allowed to write automotive leases.
Originally Posted by Jorg
(Post 2471507)
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?
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Originally Posted by STLTH_AMG
(Post 2472546)
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!
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Originally Posted by LaicepsYdobon
(Post 2472926)
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 ?
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Originally Posted by peabers
(Post 2472799)
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.
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Originally Posted by marakbai
(Post 2473558)
I was wondering what private financing rates were ...can you share? Interest rates are the best way to save $ on this car.
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. |
Originally Posted by NO_WUR_E
(Post 2471174)
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.
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 |
Originally Posted by maytag
(Post 2474582)
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
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I financed through a Teacher's CU, at 6.0% for 60 mos. It would be 5.75% for 48 mos.
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<<<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. |
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. :ladysman: |
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