manku

A got a mailer recently from a dealer saying they would pay 2K over KBB for any trade in...I had leased my 09 E350 in the summer of 2009 when they were selling them for under 40K, so my buyout is a mere 32K, or 3K under KBB.

They are offering a new E350 (about 55K sticker) for $615 month including CA tax (9.75%), with zero drive off (no first payment, just 32 for 33 month, 10K year lease)...included are all fees/registration etc...

Seems like a no brainer for me, two questions:

1. Can I do better?
2. What about a bluetec? I'm tired of 17mpg here in LA! How are those leasing...any comments about upkeep/maintenance etc...

Thanks...hope to be driving a new E350 tomorrow.

Will post photo

pudding1978

Looks like a fair deal to me. As I see it, you'll have 5k in your hand. You can pay that towards the lease to lower the payment, or you can use it as a down payment and buy the new car. I'd do it.

newyorktoLA

is the letter from keyes european?

park423

How many months do u have left on your lease? are u buying the car and selling back to the dealer?

JohnyBenz

Down here in NY e350 $1600 out of pocket $505 a month.

My 11' E350 was 1600 out of pocket, $405/month only reason that cheap because my father has worked for MBUSA for 41 years hehe.

but i think your around ball park on that price.

K-A

Looks like the Used Market is just THAT lucrative right now (best in history), and Manufacturers are pushing out Sales incentives like never before, to keep fleets moving.

I just got an '11 that MSRP'd at several hundred over my now-ex 2010, for $50 decrease a month in payments, and maybe $300 or so out of pocket drive-off.

manku

I think I have 13 or 14 months left on the lease...actually, I prefer my body style and interior to the new one, however it is black/black which I don't really love (only model left after 2009 purge) and, as I said before, I hate the mileage...especially since I just got a Prius too!

It's not Keyes, FYI

park423

If they are taking the car off your hands 13-14 months early with no penalty and you really want the new design W212, then sounds like a pretty good deal, what is your current payment?

luckytruck

do it!!!!

i did the same to my 08 and can't be happier.

andy

wmoor004

SO I take many on here Lease rather than buy? But it sounds like a good deal!

MCF

Lease if you can't afford the car you want to drive. Buy if you aren't a poser.

RJC

You're joking right?

amdeutsch

A 10k mile lease in CA is nothing from what I've read on MBW. Most drive more than that unless they have multiple cars and can keep it down. Plus OP has a full year plus left left on his lease => not a $32k payoff. On top of that OP doesn't state how many miles on his car.

manku

10K is plenty, if you have multiple cars which we do...also, we have no commutes (except schools, work out of home) and rarely go on freeway...my last car had 9600 miles on it when I turned it in after three years - talk about money down the drain!

I have 22K miles on my MB, with about 14 months and 36K total miles available...so I'm within mileage. Also, since I just got a Prius, am driving that a lot more in town and reducing MB mileage.

FWIW, the dealer totally flaked on the deal, making it about $740/month for a 55K car. Another bait and switch by a car dealer...shocking, I tell you

While a new car would have been nice, it's not that much different from my current car...same crappy NAV, and why did they change the AC from dials to levers...is there any easier way to set the temperature than a dial?

We'll see if any other dealer feels like moving a car by the end of the month...

golfster

I only leased one car in my life, and ended up paying it off (buying it) 9 months into the lease. I, like the OP, don't put many miles on a single car per year, and it just felt like I was throwing money away renting a car that was parked in my garage most of the time instead of making use of the mileage allowance. Of course, depreciation on a paid for low mileage car is essentially the same, you take a hit either way.

Sorry to hear the dealer flaked, but there will be other (better?) deals from other dealers as the model year progresses. Good luck with the search!!

luckytruck

YIKES, did you really say this?

my company pays for my leased MB because it is 100% expensed/rental.

i guess i can't afford what i drive. I'm glad the company i work for can and thinks i am worth it..

andy

hyperion667

LOL, I hope that dude bought his car and isn't posing

amdeutsch

No money, except for gas maybe, out of your pocket. Yup, I agree. You're worth a tax deduction to your company. Anything else you want to mention?

park423

Assuming you are buying a car for a 7-8 year run or leasing 2-3 cars during this time, you will end up spending about the same amount of money and each method has it's equilavent pros and cons, I just don't get this buying is better or more authentic (i.e. not a poseur) than leasing argument?? You can buy a 2003 CL500 for 15K now, maybe even less, talk about depreciation, you can spend the same amount of money during time leasing 2-3 CL500/550's all the while getting new cars with warranty/worry-free driving and as most leasers do, tax-deduct a portion of the car's payment.

The notion that buying is better than leasing is an uneducated argument.

RJC

Agreed. My CPA says leasing a car through one of my companies is/has been the best choice for me providing the lease deal is good. We also must separate buying for cash vs financing. Buying a new car for cash makes the least amount of sense (except say certain new F cars) as there is huge depreciation the minute you drive it off the lot, certainly not the best way to use one's money. Another factor is how well is one's money working for them compared to the lease/finance rates. Something else MCF may not realize, you generally need better credit to lease and a higher income for the same car vs financing.

Arrie

What if you drive 30000 miles/year? Does it make sense to lease a car then?

K-A

Indeed, and this is the leading reason that I Leased (not a big fan of Leasing), as to not tie up so much capital into a car. I have my "Buy the car outright" money sitting in Stocks right now, "working for me", yes working well, I'm down just $3K.

Ahh, man. They'll go back up.

park423

Yes, negotiate a good deal for a high mileage lease. At 30K miles a year, you will be out of warranty in less than 2 years. Out of an extended warranty in 3.5 years. If you're paying the car over 5 years and keeping it for at least 7-8 to make it worth buying a 75K-100K car, you will have 210K to 240K miles by then and the car will be worth nothing and who knows how much in repair/service costs you will have beyond 100K miles.

As RJC stated, you need good to excellent credit to get a good lease deal, hardly for poseurs and plunking down $20K-$30K on an immediately depreciating asset with absolutely no chance of appreciating is not the wisest option or use of that money.

Don't get me wrong, I currently have both bought and leased cars and said there are benefits to both depending on one's situation like a high mileage one, just saying calling leasers as poseurs sounds ignorant on the leasing concept.

K-A

O/T, but does anyone know of the best way to get more mileage on the Lease? I assume to all MB Financial, but I've heard that you can get the added miles at anytime (meaning, no rush)? However, is there a certain "window" where you can get them guaranteed at a lower price?

manku

Just came back from another dealer....

They wanted $649 including ca tax (9.75%) + drive off of about 1350 (first month + 693 dmv...yikes!) for a 55.4K E350 luxury (i like the all tan interior and wood wheel...also tired of scraping up my front spoiler)...also included prepaid maintenance.

Ultimately, I passed:

1. I really hate getting 17 mpg or worse of premium gas...I wanted the bluetec, but they wouldn't get do it (even though the car has the same msrp and a much better residual...I believe the money factor of .0021 is also the same).

2. If I'm going to get the gas, I'm waiting till 2012 for the 300+ hp remodel & better mileage (or so they say)...I realize the deals won't be as good, but then the deals on the remaining 2011's should be killer if I cave in and go that route.

3. Finally, and most of all, is I'm tired of paying so much for transportation. I can't ever really enjoy the car the way it's supposed to be driven (live on westside of LA), and paying all that money to sit at the intersection of wilshire/santa monica no longer appeals to me. As crazy as it sounds, an E class has virtually no cachet here in LA - so I don't even get to impress my neighbors Unless a really crazy deal comes down the pike, I'll probably let my benz lease mature - and get something half the price like a VW GTI or VW Jettawagon TDI.

4. What's with the $1095 aquisition fee? Makes resort charges at hotels seem reasonable