Leasing Question

Oct 10, 2005 | 08:50 PM

luxury1

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Joined: May 2004

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From: Pittsburgh, PA

Leasing Question

Do dealerships typically rape you for "excessive damage" when you turn in a lease car? If so, how much might an average car damage total at the time of turn in?

Oct 10, 2005 | 10:48 PM

xraymd

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Joined: Jun 2004

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From: NW Ohio

2008 335 vert, 2004 MDX

Remember, you're not leasing from the dealership. When I leased my 540 from BMW, they gave very strict guidelines up front of what was "excessive" damage including a long diatribe on dent vs. ding. Make sure you get these expectations up front. And as far as leasing is concerned, remember to shop around. The manufacturer usually doesn't have the best deal. My current lease is with my bank. I shopped around for a low rate, and then my bank matched it.

Oct 10, 2005 | 11:01 PM

ima55r2

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From: Treasure Coast

2018 Mclaren 720s, 2021 Aston Martin DBX

The dealer will look at the car like a trade in. If it is all screwed up, you are asking for it.

Excessive damage due to accidents or vandalism should be fixed by your insurance. Excessive damage due to wear, like torn seats, will lower the value.

Clean up the car the best you can and take it in before the lease termination. Get it appraised "as is" and if the damage was fixed. Then you’ll know if it’s worth it for you to repair the car or just take the lower appraisal and pay up.

Oct 11, 2005 | 11:32 AM

Alan l.

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From: New York

06 E350 4Matic

Is it true that when your leasing a vehicle, you're not allowed to smoke in it?

Oct 11, 2005 | 06:44 PM

luxury1

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From: Pittsburgh, PA

It is so hard to keep a car perfect. With these potential charges, is leasing crazy? I like the lower payments, ability to flip cars, etc.

Oct 11, 2005 | 07:40 PM

MBZFAN55

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Joined: Dec 2004

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From: DFW

BMW M850i Gran Coupe

Quote:

Originally Posted by luxury1

It is so hard to keep a car perfect. With these potential charges, is leasing crazy? I like the lower payments, ability to flip cars, etc.

I have been leasing from MB Credit for the past 10 years and I like the ease of dealing directly with Mercedes Benz. That's not to say that they are perfect in every area, but after doing some comparative shopping, they are certainly "in the ballpark".

Some areas that they really shine in are:
1. Extremely customer friendly "turn in" program that goes out of it's way to be clear, easy and fair.
2. Reasonably good residual values that can be many times even better when MBUSA is looking to sell certain models.
3. Occasional flexibility in residual value price, depending upon market conditions works well for me as I usually buy the "off lease" vehicle.
4. Seamless transfer/sale to a 3rd party when I want to "sell" to a friend at the end of the lease.
5. When there IS a problem at the end of your MB Credit lease, if you are leasing ANOTHER Mercedes, the dealer seems to have the ability to "help".

I personally enjoy the tax benefits of deducting a substantial part of the lease payment as a business expense, and subsequently I view the leasing deal as a reverse purchase where I buy the car at the END of the transaction.

Oct 13, 2005 | 04:40 AM

hokimon25

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Joined: Sep 2005

Posts: 3

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From: Los Angeles

06' E350

I didnt know that you were able to shop around with other banks, just thought you have to go with usually mbcredit when u lease??? also - whats a good lease rate for A+ credit?

Last edited by hokimon25; Oct 13, 2005 at 04:42 AM.