My 2010 performance pack C63 lease is ending soon. What to do?? My buyout is $42k. I am 26k km over my allowance. ($8k penalty if i return it) I recently replaced brakes, rotors and pads ($5k) and bought the extended warranty for 3 years ($6k).

I love the car. But has over 88k km and getting up in age. The power and sound makes me smile EVERY day. I need useable back seats for the kids.

Was thinking about keeping it and buy a second hand car/SUV for a DD. or replace with an M5 or X5M or something else. On one hand, thinking time for something new. But I know I will miss the torque!!

What to do?????

 

have you talked with your MB dealer about it? sometimes if you lease another car from them, they go easy on you... although 26k over is quite a bit. worth a try if you havent i guess

 

I tired a couple of months ago and they wanted me to eat $8k!

I could probably walk away from the car if i sell retail. But considering the $10k I recently paid. And if I still have to eat the $8k. I am pretty much getting my car for $34k. The problem is if I don't act fast, I won't be able to recover the $7kish in HST I need to pay.

 

If you trade it in at a non-mercedes dealer, they will give you the $42k on a trade

 

Exactly!! Which is my delema. Which non MB dealer. Was looking at BMW. But nothing there is jumping out at me. Don't really like the look of M3 sedan. M5 is very big. By trading in I can walk away from the 63 and not have to pay taxes twice.

The other problem is how can you enjoy anything else after a c63? It ruins you for all other cars?

I have 5 weeks to make a call. The clock is ticking.

I have had a need for an SUV. So as mentioned, maybe trade in on a X5 and pick up something sporty later? Or maybe a escalade hybrid?

 

If we are talking the F10 M5 then I would do that if it is in the price range... Because that thing is pure secks. I assume you have a coupe saying that the m5 is big? Yes?

 

I have a 2010 sedan. And yes talking M5 2012/3 with the V8

 

Oh my, quite a difficult decision my friend. I just have a hard time following how you need more room and just the way you go about it? Like the need for an SUV? Sounds to me like a growing family.

If a C63 isn't big enough for your needs an M5 wont be much better.

I'd test drive the M5 and an X5M if there is one in your area and go from there. If it was me, I'd avoid penalties and just buy the C63.

 

btw which dealer did you go to? as you are in richmond hill, i am thinking maybe markham? try a non corporate store to see if you have better luck with negotiating something

 

I know what I should do. Which is keep my beast and take her off DD Duties. And then get some beater kid and kid crap and trailer towing (for bikes - track bike, street bike and push bikes) Acura MDX or something. (Single dad. 2 kids under 10.) had the car and SUV setup when married. Lost the wife and SUV in the divorce.

The only reason I am considering options is because I am at a crossroads. Do I pay the $7k in taxes and keep my car, or use this opportunity to trade up or sideways. (I was told I can't trade down)

I did try and be practical once. Sold my ISF and moved to a Camry! Died after 3 months and sold the Camry and bought my C63.

 

Yes agreed, I think you should just finance it out at a lower and longer rate to keep payments low....save your 8k and buy an used SUV.

 

I deal with many. Bought cars from Thornhill, midtown and Victoria star. Service at Thornhill and Mississauga.

I tried to deal with Victoria star before, but they can't see past the mileage.

 

I came to you guys because you understand what it means to own a C63 and how hard it is to stop owning one. There are very few cars out there I rather have.

 

I would get a '13 ML63, then weistec tune/exhaust....

 

I test drove the Ml63. And frankly I don't see the point. So much power but so big and rolly Polly. I don't get it. I like cornering and agile cars. Granted, the 63 is big, but still quite nimble.

Plus the ML in Canada don't have the heated cup holders! Seriously! What's up with that?

 

How about a used or a new E63? Especially the bi-turbo ones.

 

Your lease situation sounds like a nasty divorce. It's cheaper to keep her. There's nothing out there quite like the C63.

 

Porsche has a great incentive program on a lease 2013 Carrera, S, or 4S models. 2 years lease for a Carrera S, msrp at $95,000 is only $1,100 including tax with $2,000 down. If you trade in a car, they will give you up to $4,000 incentives. Maybe you can ask them to help you out on $8k.

 

I was in the same boat last year. I had twins on the way and already had a 5 year old son so I needed more space.

I traded in my C63 for a new QX56 and Infiniti actually gave more way more than the buyback because the owner of the dealership always wanted one (he is driving it still today). I picked up the QX56 because it had all the options of the new GL550 but at half the price. The Escalade interior was donkey and X5 was too tight with the 3rd row

I miss the C63 everyday and will definitely get another AMG as soon as my lease is up

Have you thought about trying the new Audi S7. Payments would be same or lower than the C63 and the power is insane with the dual clutch tranny. You should definitely test drive one.

 

I'd KILL to be able to afford an S7. My buddies a7 is one of the most gorgeous cars, the interior is just perfection, love that thing. and it's actually quicker than i thought it would be, an s7 would be a lot of fun.

 

The S7 is beautiful, but not for me.

 

Those would be awesome!! But those numbers don't exist in Canada. I have been eyeing a panamera.

 

i've heard the x6m pulls like crazy, so that may be an option if you need an SUV?

I picked up my lease on my 2010 last year and haven't looked back. I'm still in love with this car haha.

 

I used to be the world's biggest BMW fan, and my wife has an X6 that she loves. But I've actually lost most of my interest in BMWs, even including the X5M and M5 (both of which I've checked out again very recently).

I've thought about getting rid of my Range Rover and C63 and replacing it with an X5M as a single, "do it all" vehicle, but the X5 gives up a lot of practicality in certain specific areas (ie, it's useless off-road, and towing capacity is shiite).

And I don't think the X5M would be as much fun to drive on a day to day basis as the C63 is. Which could be good or bad...I drive my RR a lot more sanely than I do my C63. And one of these days I'll get myself into hot-water over it.

Anyhow, back to the original topic. With a $42K buyout and already 88K km on the car, I'm not sure you're going to get a huge trade-in no matter where you go (MB or otherwise). And you're on the hook for those $7K in taxes no matter what (you either buy-out the lease, or you pay the full taxes on a lease trade-in elsewhere). So I wouldn't sweat the taxes much.

But the $8K is a bugger for being over mileage. Dealers will often overlook the mileage charges IF you pick up another lease from them, but that's a big chunk. And even if you knock it down, they'll probably just add it to whatever you replace it with.

Based on the type of mileage you're doing, I'd say that leasing isn't a viable option for you in the future.

Personally, I'd buy out the car for the $42K, eat the $7K in taxes (which you can "get back" whenever you trade in for something else), and then take your time to decide what you want.

Your walkaway costs are $8K and you have nothing to show for it. The alternative is to pay roughly $49K for the car you're already driving (including taxes), but at least you have something to show for it. And you should be able to get at least $40K on a trade-in at almost any dealership if you're looking to trade up (ie, M5, X5M, Panamera (ugh), S7 et al).

So the net "cost" of buying out your car is probably ~$4K, or half of what you'd get if you paid MB to terminate your lease at term.

I'd shop the car around to a couple of dealers first to get a better idea of what they'd give you based on mileage / year / condition. If the local Audi / BMW guys will give you better than $40K for your car on trade-in, then you should be in okay shape.

If they're offering in the high $20s or low $30s, then you might not be any further ahead, money-wise.



Patrick

 

Good points. Ya, I realize the tax is there always. My only issue was I pay the taxes. And if I sell shortly, I have to pay taxes again. But yes, some of that will be recovered on the trade in.

I think I am good now. Probably going to keep my USED car. An look for a second beater SUV to carry kids and crap.

Thanks all for the feedback and thought processes.

I love my c63!