Walked away from a C350 Lease last night- Was it smart?
06-25-2008, 12:10 PM
#1
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2009 C300
Walked away from a C350 Lease last night- Was it smart?
Hey.
So I went out to dinner with my wife last night and afterwords wanted to go checkout the MB dealership and look at C300's. I am looking for what is becoming a somewhat standard set-up:
-Arctic White
-MB -Tex
-MM
-P1
-Pano
-AMG 18's
The dealer didn't have any 300's on the lot that fit my needs. But he did have a 350 that matched perfectly and had the Ipod package.
Nevertheless, my "look" tunrned into a full out negotiation. For the "VIP lease" It was going to be my trade in valued @ $2k and $550/month for a 51 month lease. I walked away... good/bad...Am I dumb?
Help please.
So I went out to dinner with my wife last night and afterwords wanted to go checkout the MB dealership and look at C300's. I am looking for what is becoming a somewhat standard set-up:
-Arctic White
-MB -Tex
-MM
-P1
-Pano
-AMG 18's
The dealer didn't have any 300's on the lot that fit my needs. But he did have a 350 that matched perfectly and had the Ipod package.
Nevertheless, my "look" tunrned into a full out negotiation. For the "VIP lease" It was going to be my trade in valued @ $2k and $550/month for a 51 month lease. I walked away... good/bad...Am I dumb?
Help please.
Last edited by Djames007; 06-25-2008 at 12:13 PM.
06-25-2008, 12:13 PM
#2
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2008 Black Out C350 Saks Edition / 87 VW GTI
good, you don't want a 51 month lease you better off purchasing the car, MBUSA has a lease special for $389.00 a month for a C300
06-25-2008, 12:19 PM
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'08 C350 Sport
They also have lease specials on the C350 which is 39 months (3.25 yrs) for $449/mo. What did the dealer offer you if you wanted to purchase it?
06-25-2008, 12:26 PM
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2009 C300
To purchase they offered $41,000.
My lease rate of $550 was based off of the special of $449/month + options. The MM, Pano, Ipod & AMG 18's.
Side note - I was very impressed with the command interface and voice regonicition abilties of the system.
My lease rate of $550 was based off of the special of $449/month + options. The MM, Pano, Ipod & AMG 18's.
Side note - I was very impressed with the command interface and voice regonicition abilties of the system.
06-25-2008, 12:42 PM
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2010 E90 335i, have W204 C350 and W211 E350 in the family
06-25-2008, 02:00 PM
#7
Great deal IMO for the car based on the $41k. I have the exact same car and only managed $43k but then again depends on location and demand.
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06-25-2008, 02:48 PM
#8
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You should have ran. Not just walked. 51 months? No way on a lease.
A deal to go with, is one without your car even calculated into the trade first off. Get the deal done first, then talk about the trade-in. I never talk about trade-in's until a deal is negotiated on the car itself.
On the price for buying, you should be able to get a little knocked off that price.
A deal to go with, is one without your car even calculated into the trade first off. Get the deal done first, then talk about the trade-in. I never talk about trade-in's until a deal is negotiated on the car itself.
On the price for buying, you should be able to get a little knocked off that price.
06-25-2008, 03:33 PM
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A good comparison is that I am financing my C350 that I purchased back in September of 07.
$22,000 down
43,000 final price
390/mo 60mo. with 7% interest. About $40's a month in interest.
And, after I finance it, I can sell the car for the value. Anything 48mo or over lease-wise may be too long in my opinion.
$22,000 down
43,000 final price
390/mo 60mo. with 7% interest. About $40's a month in interest.
And, after I finance it, I can sell the car for the value. Anything 48mo or over lease-wise may be too long in my opinion.
06-26-2008, 08:12 AM
#11
If you have a good idea on resale value of cars and look at the bigger picture that will help more on deciding the best financial decision. For example if you paid the $550 a month for 51 months plus $2k down you will have $30,050 invested in the car not including any other taxes, fees, etc. if they apply.
With a purchase price of $41,000 that leaves a $10,950 difference. Is it better to buy and have the $10,950 rolled into payments(not including interest on loan) and have a car that is now worth $20-22k in 4-5 years if taken care of and average mile.
IMBOOM has a very good scenerio IMO. A good down payment to keep interest and payments minimal and will have a car with some decent equity in 5 years when paid off. Leases the "majority" of the time are good for people that don't have that big down payment and can't swing the big payment of buying along with accumulated interest.
With a purchase price of $41,000 that leaves a $10,950 difference. Is it better to buy and have the $10,950 rolled into payments(not including interest on loan) and have a car that is now worth $20-22k in 4-5 years if taken care of and average mile.
IMBOOM has a very good scenerio IMO. A good down payment to keep interest and payments minimal and will have a car with some decent equity in 5 years when paid off. Leases the "majority" of the time are good for people that don't have that big down payment and can't swing the big payment of buying along with accumulated interest.
06-26-2008, 08:20 AM
#12
Running the numbers again the total invested($30,050) over 51 months on a lease sounds about average if not good for a MB if those are the exact numbers and no additional fees.
Sounds more to me that you were considering a C300 and had a much cheaper sticker price in mind and the cost of a loaded C350 has your head spinning. I say this from experience as I was in the market for a C55 AMG in the $30-32k range as my high end and ended up with a new $44k car.
Sounds more to me that you were considering a C300 and had a much cheaper sticker price in mind and the cost of a loaded C350 has your head spinning. I say this from experience as I was in the market for a C55 AMG in the $30-32k range as my high end and ended up with a new $44k car.
Last edited by racetested; 06-26-2008 at 08:23 AM.
06-26-2008, 10:00 AM
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2002 S430, 2004 Cobra, 2004 Tahoe
I think you did the right thing to walk away from the 51 month lease...I would call your salesperson back and get him to re-run the figures at 39 months and see where your payment come out to...remember, the lease special uses about $4500 out of pocket, plus your taxes and dealer fee's...once all those added in you're looking at over $500/mo depending on which state you live and it's tax rate...good luck with your purchase.
