Lease or Buy?
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12/2012 Build 911 (991) C2S; 2011 Acura ZDX
Lease or Buy?
What is a good average lease price for a CLS55 w/o 030 - $1300 per month? $1400 w/ 030?
Since no one really knows on the resale value, would it make sense to lease?
Since no one really knows on the resale value, would it make sense to lease?
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From: Wellington, FL
something fast
Originally Posted by Mperor
What is a good average lease price for a CLS55 w/o 030 - $1300 per month? $1400 w/ 030?
Since no one really knows on the resale value, would it make sense to lease?
Since no one really knows on the resale value, would it make sense to lease?
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From: Montclair,N.J.
06 CLS55
$1000 off MSRP is nothing. You can do better than that. Heres how I got 12%off inv. Find what lease special is going on. In your office or friends or family get a couple of cars together. Every dealer get whats called a control #. Its for family of an employee(12%). Get a couple of car deals and get a control#. 91,000 cls55 0 down just inseptions $1150.00 15k@39mths
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From: Southern California
2017 W205 C43 AMG
Try to avoid putting money down on a Lease. This is because, unlike a purchase, the down payment does not build any "equity" (although cars are a depreciating assets and frequently build negative equity).
Down payment on a Lease (aka Cap Cost Reduction) is simply multiple lease payments made up front.
Down payment on a Lease (aka Cap Cost Reduction) is simply multiple lease payments made up front.
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From: NJ
2009 SL63 AMG
Don't lease, your only throwing away your money. The motor is a handbuilt AMG, so reliability should not be an issue. You can finance the car, pay a monthly amount in range of what it would cost to lease, and in the end, you get to keep the car.
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AlabasterWhiteSL ObsidianBlackML
....if you're looking to keep the car till it dies, see if you can get a reasonable residual from the dealer...making your payments not so bad...and figure by the end of the lease the car will be worth a few K less than what they say...and see how much you'd be paying compared to an outright purchase....thats the reason I leased my SL and just intend to buy it at end of the lease...comes out to be $6,000 cheaper than financing from the beginning.
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Originally Posted by HLG600
Don't lease, your only throwing away your money. The motor is a handbuilt AMG, so reliability should not be an issue. You can finance the car, pay a monthly amount in range of what it would cost to lease, and in the end, you get to keep the car.
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From: Sugar Land, TX
CLS55
leasing is brilliant if you know how to use it to your financial advantage. unless you like to keep your cars, its def better to lease. these high value cars depreciate too fast to buy outright and sell in 2-3 years.
you should be able to get into a loaded cls55 for about $1550/month for 36 months. good luck.
you should be able to get into a loaded cls55 for about $1550/month for 36 months. good luck.
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From: Houston, TX
2019 AMG CLS53
Originally Posted by vrracr
leasing is brilliant if you know how to use it to your financial advantage. unless you like to keep your cars, its def better to lease. these high value cars depreciate too fast to buy outright and sell in 2-3 years.
you should be able to get into a loaded cls55 for about $1550/month for 36 months. good luck.
you should be able to get into a loaded cls55 for about $1550/month for 36 months. good luck.
How are you liking the CLS55? I remember you bought the CLS500 and missed the power of your M3. I am thinking of getting the CLS63 to replace my CLS500...
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From: Sugar Land, TX
CLS55
good memory.
you will be very happy with a cls55 or 63. it is a great car. however, it is no BMW. it rocks as long as you are on a straight road, which is the case 99% of your time driving, but i actually think that even my friend's 7 series feels better on high speed curves and turns.
but coming out of a cls500, the 55 is a dream. made me not totally regret switching to MB.
safeer
you will be very happy with a cls55 or 63. it is a great car. however, it is no BMW. it rocks as long as you are on a straight road, which is the case 99% of your time driving, but i actually think that even my friend's 7 series feels better on high speed curves and turns.
but coming out of a cls500, the 55 is a dream. made me not totally regret switching to MB.
safeer
Originally Posted by cda
How are you liking the CLS55? I remember you bought the CLS500 and missed the power of your M3. I am thinking of getting the CLS63 to replace my CLS500...
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From: Sugar Land, TX
CLS55
that's a good point. also, a 3 year lease doesn't mean you have to keep the car for 3 years either. most banks don't have prepayment penalties so you can sell the car at anytime and break the lease. if that is not an option with the bank, you can use a service like Auto Lease Trackers.
Originally Posted by clos
just becuase you lease at the beginning doesn't mean you can't exercise your option to buy.
IMO leasing is the way to go.
clos
IMO leasing is the way to go.
clos
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From: Scottsdale, Arizona
2020 S63 Coupe, 2006 Hummer H1 Alpha, 2018 McLaren 720S, 2022 Porsche 911 TurboS, 2022 Tesla Model X
There can be a tax advantage to leasing too.
If you buy you sales tax (about 8% here in Arizona, on the full value of the vehicle) is added to the purchase price. If you finance it becomes part of your loan and thus you'll be paying interest on it from the beginning.
On the other hand, if you lease you pay sales tax as you go; it is generally summed to the monthly lease payment. At the lease end, if you return the car you have only paid a fraction of the sales tax compared to purchase. Or if it makes sense to buy the car at the end of the lease, you can avoid sales tax on the residual by obtaining a third party buyout.
Point is you will end up paying much less sales tax on a lease versus purchase.
If you buy you sales tax (about 8% here in Arizona, on the full value of the vehicle) is added to the purchase price. If you finance it becomes part of your loan and thus you'll be paying interest on it from the beginning.
On the other hand, if you lease you pay sales tax as you go; it is generally summed to the monthly lease payment. At the lease end, if you return the car you have only paid a fraction of the sales tax compared to purchase. Or if it makes sense to buy the car at the end of the lease, you can avoid sales tax on the residual by obtaining a third party buyout.
Point is you will end up paying much less sales tax on a lease versus purchase.
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From: Southern California
2017 W205 C43 AMG
Leasing a depreciating asset is a good strategy. Leases are:
1) Less of a hit TAX wise than a purchase
2) Possible Tax deduction
3) Never facing NEGATIVE EQUITY.
For me, Negative equity is the worst. Nothing worse than OWING $35,000 on a car that is now WORTH $29,000.
That means that if you want to get out of the current car and into a new one, the owner would have to come up with $6,000 CASH, plus a Down payment for the next car. Or, roll the $6,000 N.E. into the new car. So if you are buying/leasing a $60,000 car, it now becomes a $66,000 Car!
Leasing avoids this scenario.
1) Less of a hit TAX wise than a purchase
2) Possible Tax deduction
3) Never facing NEGATIVE EQUITY.
For me, Negative equity is the worst. Nothing worse than OWING $35,000 on a car that is now WORTH $29,000.
That means that if you want to get out of the current car and into a new one, the owner would have to come up with $6,000 CASH, plus a Down payment for the next car. Or, roll the $6,000 N.E. into the new car. So if you are buying/leasing a $60,000 car, it now becomes a $66,000 Car!
Leasing avoids this scenario.
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Leasing maybe good for some but I just don't feel like making car payment until I die. I keep each of my car at least 6 years and I do enjoy not making any payment after the 4 year term expire. Granted my cars are getting old and out of style, but it is still better than most of the cars on the road. For me nothing is worst than paying $1500/month, lease after lease and burn a hole in your wallet. Of course this is my humble opinion. And in 2008 the 2002 E55 will be traded or sold for the CLK63, on my wife's order.
John
John
Last edited by JohnAMG; Mar 5, 2006 at 07:03 PM.
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If you keep your car long term (>48 months) then purchasing is probably a better choice. Many of us, including myself, do not keep cars for more than 2 years if that. Imagine paying taxes upfront on the FULL VALUE and then depreciation on top of that when you know it's going to be a short term thing. 
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Originally Posted by sdsilverm3
If you keep your car long term (>48 months) then purchasing is probably a better choice. Many of us, including myself, do not keep cars for more than 2 years if that. Imagine paying taxes upfront on the FULL VALUE and then depreciation on top of that when you know it's going to be a short term thing.
Well said. If you intend to keep your car for a long time (6+ years), then purchasing is a wise option. The payments will someday (typically 5-6 years) come to an end, and you own your car outright. Period.
However, keep in mind that it will be out of warranty period, and you will "own" its problems, leaks, breakdowns and possible engine failures too.
And unlike a home or oil stock, a car (for the most part) is a depreciating asset. You are "owning" an asset on your balance sheet that will someday cost more to maintain than it is worth!
Like I siad before, there is nothing wrong with leasing a "depreciating asset."
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From: Miami
06 CLS55
I read some where that the average person keeps their car for 3 years. This was some time ago before the warranties got better. Now with that said if you plan on purchasing a car and keeping it till it can't run any more than I would still consider leasing it first, than buying it, it will save you money just on interest and taxes.
So either way it still pays to lease the car first.
Clos
P.S I have a feeling this thread will turn in to a huge discussion on leasing or buying.
So either way it still pays to lease the car first.
Clos
P.S I have a feeling this thread will turn in to a huge discussion on leasing or buying.
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If a Mercedes falls apart in 6 years then we are all buying the wrong car. Plus the money it takes to repair any future mechanical problems is still significantly less than the lease payment. I did lease a 2001 ML320 under my business. And after the lease expired I was glad it was over and I decided to buy instead. In my business it didn't make a significant difference in deduction. Maybe I am old fashion, but I just don't feel like making car payment for life. No offense to anyone, this is just my opinion.
John
John
Last edited by JohnAMG; Mar 5, 2006 at 07:29 PM.
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Originally Posted by JohnAMG
If a Mercedes falls apart in 6 years then we are all buying the wrong car. Plus the money it takes to repair any future mechanical problems is still significantly less than the lease payment. I did lease a 2001 ML320 under my business. And after the lease expired I was glad it was over and I decided to buy instead. In my business it didn't make a significant difference in deduction. Maybe I am old fashion, but I just don't feel like making car payment for life. No offense to anyone, this is just my opinion.
John
John
