Leasing and mods????
Thread Starter
Junior Member
Joined: Oct 2002
Posts: 35
Likes: 0
From: So. Cal
2005 CLK 320
Leasing and mods????
Greetings everyone, I'm a new to this forum and am looking to lease a '03 CLK 320. Sorry for the long post but I'd like to get some answers.
Now I know the contract says that you cannot modify a leased car whatsoever. But what if you plan on buying the vehicle after the lease is over and don't want to wait until then to start modifying the car. I'd like to put some wheels and body kit. Can it be done? Remember, I am for sure going to purchase the vehicle when the lease ends and for those wondering why I'm planning to lease in the first place is simply because I don't want to put up that much cash as a down payment. In other words, I don't want to put all my eggs in one basket. Also, what's the process of buying a vehicle after the lease ends? Do you have to take the vehicle to the dealer for inspection or do you just have to finance it again over the phone, dealership, etc. without them ever seeing the car again. In other words, what I mean to say is that if everyone that posts says "NO" to modifying a leased car, how will the dealer really know that I did modify the car (assuming that is the case) at the end of the lease when I decide to purchase it? May sound like a stupid question and I'm sure it's been answered before but how would they know and why would you be penalized for doing such mods even though you're going to purchase it. I understand the logic behind "No" as an answer if you planned on returning the vehicle, but remeber I'm going to purchase it, no questions asked. Any replies would be welcomed, especially dealers. Thank you.
Now I know the contract says that you cannot modify a leased car whatsoever. But what if you plan on buying the vehicle after the lease is over and don't want to wait until then to start modifying the car. I'd like to put some wheels and body kit. Can it be done? Remember, I am for sure going to purchase the vehicle when the lease ends and for those wondering why I'm planning to lease in the first place is simply because I don't want to put up that much cash as a down payment. In other words, I don't want to put all my eggs in one basket. Also, what's the process of buying a vehicle after the lease ends? Do you have to take the vehicle to the dealer for inspection or do you just have to finance it again over the phone, dealership, etc. without them ever seeing the car again. In other words, what I mean to say is that if everyone that posts says "NO" to modifying a leased car, how will the dealer really know that I did modify the car (assuming that is the case) at the end of the lease when I decide to purchase it? May sound like a stupid question and I'm sure it's been answered before but how would they know and why would you be penalized for doing such mods even though you're going to purchase it. I understand the logic behind "No" as an answer if you planned on returning the vehicle, but remeber I'm going to purchase it, no questions asked. Any replies would be welcomed, especially dealers. Thank you.
MBWorld Fanatic!
Joined: May 2002
Posts: 3,216
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From: Hong Kong / Jakarta
CLS350
A friend of mine leased his W210 E320 and modified the hell out of it. New wheels, eibach springs, Auto Couture body kit, exhaust etc. As long as you return the car in its ORIGINAL condition, i think there shouldn't be a problem.
Almost a Member!
Joined: Mar 2002
Posts: 31
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From: New Jersey
1999 CLK 430
Leasing and mods
I currently lease an 02 430, the only minor mods I made were capping the emblem and replacing the colored turning lights. I too plan on buying it after the lease ends. I should have bought it from the beginning but I wanted to drive the CLK 500, because I thought I may like to get that next. Unfortunately not, so I want to buy my 430.
I leased a 99 430 from UBV and made the same minor mods and put everything back when I turned the car in. A few tips, with 6 months left in the lease UBV contacted me and asked me if I wanted to buy it. If I said yes they offered financing and they removed the monthly service charge so it was about $950 less than if i waited until the lease expired to buy it. I was also offered the option to sell it to someone else and I would have gotten a check from UBV for $750 for doing so. I could go online to see the buyout or call and speak with someone. Never use the financing offered, you can get much lower rates elsewhere, just research all your options.
My current lease is with citigroup and I already know my buyout price and they say i can buy it in the last year without the service charge. So i am happy about that.
Honestly, no matter what you situation is, it is much better to buy the car instead of leasing to buy it. Usually the finance rate is better than the leasing service charge. Do it both ways and add up the total cost and see which way is better. also look into home equity or credit union financing.
If you know you are going to buy it i think you can do anything you want, however, you may void out certain BENZ warranties.
Good Luck.
CM
I leased a 99 430 from UBV and made the same minor mods and put everything back when I turned the car in. A few tips, with 6 months left in the lease UBV contacted me and asked me if I wanted to buy it. If I said yes they offered financing and they removed the monthly service charge so it was about $950 less than if i waited until the lease expired to buy it. I was also offered the option to sell it to someone else and I would have gotten a check from UBV for $750 for doing so. I could go online to see the buyout or call and speak with someone. Never use the financing offered, you can get much lower rates elsewhere, just research all your options.
My current lease is with citigroup and I already know my buyout price and they say i can buy it in the last year without the service charge. So i am happy about that.
Honestly, no matter what you situation is, it is much better to buy the car instead of leasing to buy it. Usually the finance rate is better than the leasing service charge. Do it both ways and add up the total cost and see which way is better. also look into home equity or credit union financing.
If you know you are going to buy it i think you can do anything you want, however, you may void out certain BENZ warranties.
Good Luck.
CM
Thread Starter
Junior Member
Joined: Oct 2002
Posts: 35
Likes: 0
From: So. Cal
2005 CLK 320
clkfrk,
Even though your going to purchase the vehicle you still have to undo all the mods? So, what you're saying is that when the lease is up, the dealer or whoever still has to inspect the vehicle one last time?
Even though your going to purchase the vehicle you still have to undo all the mods? So, what you're saying is that when the lease is up, the dealer or whoever still has to inspect the vehicle one last time?
Member
Joined: Feb 2002
Posts: 137
Likes: 0
From: Southern California
2003 CLK430 Cabriolet
No you don't have to undo you mods. I don't believe you need an inspection if you are purchasing the vehicle. Just contact the bank a couple of months before the lease and let them know you want to buy the vehicle to take care of the paperwork. But really it doesn't matter if they are going to inspect it or not if you are buying the car cause they can't charge you more than the agreed residual amount anyway regardless of mileage or modification. You just have to pay or finance the residual amount.
Last edited by KevinV; Oct 26, 2002 at 12:00 AM.
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MBWorld Fanatic!
Joined: May 2002
Posts: 3,216
Likes: 0
From: Hong Kong / Jakarta
CLS350
Call me weird but i feel that if i want to mod my car, i better lease it. The dealer will charge you big time for having modifying the car, this way you will HAVE to bring the car back to stock and sell your used parts to get some money back from your modding adventures. When i modded my SLK, i ended up selling my old parts for not much at all, and buying new rims, tires, springs, steering wheel, etc. When i wanted to sell my vehicle i got no extra for the mods, so i lost big time. Of course all this might make sense if you are intersted in simple modifications like wheels, springs exhaust, even body kits, but no engine stuff......this is just a suggestion not to be taken too seriously.
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