It's Here!
MBWorld Fanatic!
Joined: Jul 2009
Posts: 1,914
Likes: 261
From: Ontario,Canada
...24 GLE53
I'm not the exception to anything, and yes, when I become a big boy I will keep this in mind, thanx old timer, and keep the sage financial advise coming okay???
I am really at a loss here you know?
what's it like at the top man? Lonely??
next time you're making some mashed potatoes, notice how the scum rises to the top?
it's a scientific fact...
Thanx for the comment........
I will try to mature some okay? perhaps my auto will help me
peace
I am really at a loss here you know?
what's it like at the top man? Lonely??
next time you're making some mashed potatoes, notice how the scum rises to the top?
it's a scientific fact...
Thanx for the comment........
I will try to mature some okay? perhaps my auto will help me
peace
Last edited by petee1997; Oct 30, 2010 at 01:05 PM.
Out Of Control!!
Joined: Jun 2008
Posts: 10,557
Likes: 24
From: Earth
Porsche Macan S SportDesign / Ex M-B's: 11 & 10 & 06 E350's, 02 S500
Let's just put it in a way as to not equating it to a particular person here, since the subject came up:
Fact: NEVER give a Dealer ANY cash before a car is ordered, if you can help it. And definitely, do not ever give them LOTS of cash to hold onto, before you're even into your car! Always better to protect yourself.
Money, or who has money, etc., isn't the issue here.
There are guys who are a lot "richer" than me, who refuse to put anything down on a Leased car, because it's bad business. I put down $9K on a Lease, which was a stupid thing to do (aside from saving about $2K in monthly taxes through the duration of my Lease), but hey, I gotta accept that. You live and learn.
Fact: NEVER give a Dealer ANY cash before a car is ordered, if you can help it. And definitely, do not ever give them LOTS of cash to hold onto, before you're even into your car! Always better to protect yourself.
Money, or who has money, etc., isn't the issue here.
There are guys who are a lot "richer" than me, who refuse to put anything down on a Leased car, because it's bad business. I put down $9K on a Lease, which was a stupid thing to do (aside from saving about $2K in monthly taxes through the duration of my Lease), but hey, I gotta accept that. You live and learn.
MBWorld Fanatic!
Joined: Sep 2008
Posts: 4,336
Likes: 8
Porsche 991S, Cayenne S, 1972 BMW 3.0CS E9 Coupe
Let's just put it in a way as to not equating it to a particular person here, since the subject came up:
Fact: NEVER give a Dealer ANY cash before a car is ordered, if you can help it. And definitely, do not ever give them LOTS of cash to hold onto, before you're even into your car! Always better to protect yourself.
Money, or who has money, etc., isn't the issue here.
There are guys who are a lot "richer" than me, who refuse to put anything down on a Leased car, because it's bad business. I put down $9K on a Lease, which was a stupid thing to do (aside from saving about $2K in monthly taxes through the duration of my Lease), but hey, I gotta accept that. You live and learn.
Fact: NEVER give a Dealer ANY cash before a car is ordered, if you can help it. And definitely, do not ever give them LOTS of cash to hold onto, before you're even into your car! Always better to protect yourself.
Money, or who has money, etc., isn't the issue here.
There are guys who are a lot "richer" than me, who refuse to put anything down on a Leased car, because it's bad business. I put down $9K on a Lease, which was a stupid thing to do (aside from saving about $2K in monthly taxes through the duration of my Lease), but hey, I gotta accept that. You live and learn.
As far as cash goes, I already posted about paying for my car. Paying cash was my choice (but I paid only when the car was signed for and in front of me.) However, nobody wants you to pay cash. I had a hard time buying my car in full. The dealer had trunk money from MB Finance and they almost pulled my already agreed upon deal when I started to write a check. It was kind of a nightmare.
I read recently that car manufacturer's profitability comes more from finance than from production margins. It listed the actual percentages, etc.. I'll try to find the article.
MBWorld Fanatic!
Joined: May 2009
Posts: 1,850
Likes: 56
From: New York
2025 Range Rover, 2022 BMW M850 , 2017 MB E400 Coupe
Out Of Control!!
Joined: Jun 2008
Posts: 10,557
Likes: 24
From: Earth
Porsche Macan S SportDesign / Ex M-B's: 11 & 10 & 06 E350's, 02 S500
I'm under 30, and have perfect Credit, but my history is weak, due to my always paying cash, and having absolutely NO balance on anything (I'm the Credit Unions worst nightmare, because I'm responsible
).So, M-B Financial wanted a big Downpayment, even though my Score is great, and even though I payed off my last E-Class (financed) in less than 2 years.... I guess they didn't want to reward me.
Next time, if I Lease, I'm putting the minim amount down. However, with our 10% Tax, I gotta say, putting down that cash saved me some cash in the long run.
Also, I went into the Dealer with no intent to Lease, lol.
Senior Member
Joined: May 2010
Posts: 266
Likes: 5
From: Massachusetts
2010 Mercedes-Benz E350 4matic
K-A, I just hope that during the lease period, you don't wreck/total the car because then the $9K goes poof from what I understand. I have never leased a vehicle so I may not know what I am talking about. Just regurgitating info I have heard.
Out Of Control!!
Joined: Jun 2008
Posts: 10,557
Likes: 24
From: Earth
Porsche Macan S SportDesign / Ex M-B's: 11 & 10 & 06 E350's, 02 S500
).In reality, the only reason it's not smart to put a big down on your Leased car is if you total it. As, with 10% Tax, you save a lot of money by putting a large Downpayment in fact.
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MBWorld Fanatic!
Joined: Jul 2009
Posts: 1,914
Likes: 261
From: Ontario,Canada
...24 GLE53
That would be the case if the car is a total loss. Normally the insurance only pays off the balance owing on the lease. However you can get coverage for the full value of the car for up to three years. In that case the insurance company would pay the replacement value of a new car. In K-A's case that would be the preferred coverage to protect his equity. There is not much difference in the premium. I don't lease but I do have that three year, no depreciation coverage.
Out Of Control!!
Joined: Jun 2008
Posts: 10,557
Likes: 24
From: Earth
Porsche Macan S SportDesign / Ex M-B's: 11 & 10 & 06 E350's, 02 S500
Hmm, I should look into that. What is the specific name of that type of Coverage?
What I don't get is, The "GAP" Insurance pays off the remainder of the Lease, if your car gets totally, correct? Which would mean that we are paying for full coverage insurance for mostly fender-benders and such?
What I don't get is, The "GAP" Insurance pays off the remainder of the Lease, if your car gets totally, correct? Which would mean that we are paying for full coverage insurance for mostly fender-benders and such?
Member
Joined: Sep 2010
Posts: 170
Likes: 4
From: Massachusetts
E350 4matic
Hmm, I should look into that. What is the specific name of that type of Coverage?
What I don't get is, The "GAP" Insurance pays off the remainder of the Lease, if your car gets totally, correct? Which would mean that we are paying for full coverage insurance for mostly fender-benders and such?
What I don't get is, The "GAP" Insurance pays off the remainder of the Lease, if your car gets totally, correct? Which would mean that we are paying for full coverage insurance for mostly fender-benders and such?
