hey i'm new to the site....my lease is up in 2 months and im looking around for a new car i was thinking about the gs350 but recently found out that the residual is horrible and the lease prices are out of control....do u guys think i can get a e350 thats goes for around 45 to 50 with 2 grand total down in the 5 to 600 range....24 or 36 months whatever is more reasonable doesnt matter to me...any input would be helpfull thanx guys!!

 

They had some really good 27 month promotional offers on that model last month. I think 599 with a few grand down just might be possible.

 

I agree with SLK, go check out the promotion they have now for 27 month lease for $579mo. I think you have to put down around 4K or so. Good Luck

 

depending where you are, I have an E500 for lease around the same numbers... for a slightly shorter term of lease remaining...

 

If you're gonna lease for 27 months, then you would be paying that 2nd registration fees and have the car only for 3 more months. Why not just lease for 36 mos since you already paid for the full year registration. The monthly pymt will be less too.

 

I leased an E350 last Friday, 3000 down due to a RX330 trade in and 675/mo with tax for 51 months 12K Miles a year.

I thought it was good deal since the RX330 needed 4 new tires (1K at least) 30K service, dents and other repair items.

I'm a little concerned that I might go over the 12K Miles a year. I might have to do a trade in right before the lease expires.

I purchased my E350 at MB San Francisco, I negotiated hard with Barry. Absolutely love the car!

A

 

jschade,

How did you do with the miles / yr limit, will you be paying for excess mileage?

I'm a little worried if I go over the alloted miles.

A

 

Congrats on your car Alex. Seems like im just around the corner from where you are. I'm in the process getting the E320 Bluetech in San Jose. I have to see how it goes.

 

thanx guys ....im gonna try my best to get it for those numbers .....anything under 600 a month i'll b pretty happy....i know this is a mercedes forum so u guys are def partial to them....but do u guys def think i should go benz and not bimmer!!

 

Im sure you can find an E-Class under $600mo, depending on how much down $$. It's your personal preference on what you want. Mercedes and BMW are both different vehicle but great cars. Just ask yourself, are you looking for? Performance, comfort ride, space, looks, luxury. It's hard to come to a conclusion but whatever your decision is hope you enjoy your new vehicle

Good Luck

 

If you had to take one car over the other for the same price/same equipment level, would you feel bad?

If not, you made the right decision.

 

No, I'm spot on with mileage. It's important to know how many miles/year you will drive before you enter a lease. Between my wife and I, we do 30k per year. I lease two cars, 15k/yr each, and I have never been over, nor significantly under when I turn in. And I when it looks like I'm running a little high on miles, I know it's time to take a 10 day vacation and park the cars. And yes, I'm off to the Bahamas Saturday morning!

JS

 

I just leased a car with a m.s.r.p of $57,495 for 27 months, 27k total miles with $1500 down inc 1'st payment and my payments are $700 inc tax.

 

OMG!! You're RENTING that car for $25 PER DAY!!!

Jesus!! For not much more than that, I BOUGHT the E-500 ($1070/month). Why would you pay that much to *rent* someone else's car when you can buy it instead?

It's like paying $1000/month in rent when you could own a house for a payment of $1300/month.

I just don't get it. If you can't afford it, you can't afford it. There's no shame in that, go get a nice Accord instead.

EDJ

 

With a house its not the monthly payment that keeps people out. Its saving up the down payment & closing costs while paying all the everyday living expenses, that keep people out. Also bear in mind that there is a limit to how much someone can stretch a budget. He may be stretched to the max with his lease payment, and even though its "only" $300 more to buy rather than lease, the funds just arent there.

Many people might do it differently, But... that's what makes horseracing...

 

Hence why I suggested that perhaps he would be better off in a Honda. One should never *stretch* for a car, especially one that is considered a luxury.

But you're right, everyone's milage may vary.

EDJ

 

Well, I don't think it's that simple. For the record, my wife and I happen to own all the cars we have currently.

But we have leased some cars in the past when the deal was right and we will definitely lease other cars in the future if the terms are right. We would have leased the 221 last week if the terms had been better.

But it's not as simple as "driving someone else's car" and not all leases are about stretching to a car you can't afford. Some points to consider:

1.) $300/month extra is $3600/year. Over a 5 year loan, that's $18,000 plus the opportunity cost of not putting that $300/month into something productive. How much do you think a 5 year old 211 will be worth a couple of years after the next e-class is out?

2.) You cannot possibly compare this to a house. Most houses tend to go up in value. Most cars tend to go down. Especially luxury cars.

3.) For some people, there is a tax advantage to leasing.

4.) If you get in an accident in a leased car, you get it fixed and the diminished value is someone else's problem. This is a basically no hassle insurance against diminished value.

5.) If you compare "Sally" leasing two cars in consecutive 27-month leases versus Sue taking a 48 or 60 month loan, you have to consider that 28 months into it Sally is driving a brand new car. Sue isn't. Sure Sue could trade her car in after 27 months, but what's the likelihood she has negative equity at that point? (Unless of course Sue put down a large down payment, in which case the math in point #1 gets even more bleak for her.)

6.) The reason I replied to this is because I was taken aback by your smug attitude towards leasers not being able to afford a Mercedes. Well, given the current unsubsidized interest rate of 5% - 5.5% on new car loans (for models that aren't specifically subsidized), it was cheaper for us to not finance the new S. That does mean I can say to people who finance (i.e. rent other people's money to buy a car) that maybe they should drive something they can afford on their own???

 

FWIW, I lease my vehicle because I have the option to return it after several years and not be stuck with costly maintenance and repairs or I can choose to buy it when the lease expires. Hassle-free.

A previous vehicle was in and out of the shop after 3 years for many unforeseen reasons and it was stressful wondering if it was going to dump me in the middle of nowhere...

PacIslander had the same vehicle and she didn't have any problems! Hooch!

 

No no, sorry for being so vague. I wasn't slamming him for leasing, there are cases when it makes a lot of sense. I would probably lease were it not for my excessive mileage accruals.

I apologize if my post was not clear and if you felt I was being 'smug' or elitist. That was not my intent.

Sorry,

EDJ

 

No problem, man. Sorry I misunderstood you.

 

Those are all great points!
Also, one must consider the depreciation of the vehicle over the amount of time he'll be driving it.
I know of a few instances in which people have gotten great lease deals which essentially equated to the amount that the car would have depreciated. This way, you skip the hassle of having to sell the car.

 

And should anyone decide to sue you...the car stays very far from all that!

 

Good point, Atiqa.

Eldiablo, when you trade your car in you'll take the depreciation "hit" which when amortized adds to your current monthly payment.

I am convinced that leasing is the way to go. I bought a 1998 S320 nine years ago for $55,000 (cash). When I tried to trade it in recently I was offered $9,000. This is a beautifully maintained car driven less than 9,000 miles per year. So, the depreciation was over $5,000 per year, over $400 per month. If I'd traded it at three years the depreciation per year would have been even greater.

In ten years' time my $55,000 could have doubled.

 

why would i wan't to buy when the body is going to change in a few years. my old body style will be worth crap at the dealership and i will end up being upside down on my trade in. so not only did i pay more every month to "OWN" but when i trade it in im upside down so it just doesn't make sence if i trade in my cars every 2 years.

 

I believe the 27 mo. deal is 5200 down.

jimm