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Don’t mind at all! Although I don’t know how helpful my answer will be because of the unique acquisition circumstances. This car used to belong to a family member. They ended up getting a new Audi A3, and as a result, they were planning on selling this car back to the dealer. I was scrambling to find a new car, so I offered to kick in some cash, in addition to taking over the lease payments. I really lucked out. Planning on keeping this for 12-14 months while I wait for the market to calm down a bit. Just had the interior detailed, so the car feels a little closer to “new” now . . .
I guess I meant "what it cost you" more like how much money. I have never been a fan of leasing, no matter how many times I've done the math, but I do understand the concept. I think the numbers would be helpful, even with your unique circumstances, given the volatility of the current market. Sounds like you paid (1) a lump sum and now have (2) a monthly payment for (3) a fixed term. Those numbers would tell a story, albeit a different one than the $59,000 I will pay to own a 2022 for as long as I want, but that's the math that I do every now and then.
I've typically bought my cars pre-owned and paid cash, keeping them till they're seven years old or so. When the W205 came out I bought it new, trading in a E350 and my wife has been driving it happily for 7+ years since. I've had to twist her arm to buy the GLC so I want to have the option to get seven + years out of it too.
I guess I meant "what it cost you" more like how much money. I have never been a fan of leasing, no matter how many times I've done the math, but I do understand the concept. I think the numbers would be helpful, even with your unique circumstances, given the volotility of the current market. Sounds like you paid (1) a lump sum and now have (2) a monthly payment for (3) a fixed term. Those numbers would tell a story, albeit a different one than the $59,000 I will pay to own a 2022 for as long as I want, but that's the math that I do every now and then.
I've typically bought my cars pre-owned and paid cash, keeping them till they're seven years old or so. When the W205 came out I bought it new, trading in a E350 and my wife has been driving it happily for 7+ years since. I've had to twist her arm to buy the GLC so I want to have the option to get seven + years out of it too.
Yep, I figured. I just thought you were after a used price, as my situation was certainly unique.
This car was leased in February of 2020 and the payments will be $601/mo.
I exclusively lease, because cars are depreciating assets. Especially these cars (i.e., German luxury cars) haha!
I only drive about 10k miles/yr (tops). I’d rather have a lower monthly payment, a car covered under the warranty for the duration of ownership, no worries about resale value, and the ability to get a new car every 36-48 months.
If I drove 15k+ miles a year, or owned my cars for 7+ years, i would probably buy (depreciation hit is not going to really matter in the circumstances where the car racks up a long ownership period or high mileage total).
This car was leased in February of 2020 and the payments will be $601/mo. [Planning on keeping this for 12-14 months while I wait for the market to calm down a bit.] I exclusively lease, because cars are depreciating assets. Especially these cars (i.e., German luxury cars) haha!
I would think that the current used car climate could allow you to retail the car for more than the lease buy-out, no? I imagine you might recoup the $7200-$8400 in lease payments (you didn't say how much other cash you put in the deal)
Originally Posted by zibby43
I only drive about 10k miles/yr (tops). I’d rather have a lower monthly payment, a car covered under the warranty for the duration of ownership, no worries about resale value, and the ability to get a new car every 36-48 months. If I drove 15k+ miles a year, or owned my cars for 7+ years, i would probably buy (depreciation hit is not going to really matter in the circumstances where the car racks up a long ownership period or high mileage total).
10k miles/yr is about max for any of our cars too. When I bought used I always aimed to get a car with about a year/10,000 miles of warranty remaining, just in case, but when I bought the W205 new and they pitched an extended warranty for like $3000, I told them I hadn't spent $3000 on repairs that would have been covered on all six previous MBs combined! As far as the depreciation bit, that was also part of my calculus buying 3 year old, 40,000 mile cars. On average they were about 50% less than original sticker, and they were all former lease cars which had lease payments that totalled more than the other 50% (my SL400 was not a former lease, and at almost 4 years old was over 60% off sticker). One way I've looked at the C300 cost is it was $38,000, less $10,000 for the E350 trade. By the time I sell it in March or so I will have had it for just about 7 years, so $4000/year. Or, if I get over $20,000 for it, which seems plausible based on cars.com prices, I could calculate another way.
I would think that the current used car climate could allow you to retail the car for more than the lease buy-out, no? I imagine you might recoup the $7200-$8400 in lease payments (you didn't say how much other cash you put in the deal)
10k miles/yr is about max for any of our cars too. When I bought used I always aimed to get a car with about a year/10,000 miles of warranty remaining, just in case, but when I bought the W205 new and they pitched an extended warranty for like $3000, I told them I hadn't spent $3000 on repairs that would have been covered on all six previous MBs combined! As far as the depreciation bit, that was also part of my calculus buying 3 year old, 40,000 mile cars. On average they were about 50% less than original sticker, and they were all former lease cars which had lease payments that totalled more than the other 50% (my SL400 was not a former lease, and at almost 4 years old was over 60% off sticker). One way I've looked at the C300 cost is it was $38,000, less $10,000 for the E350 trade. By the time I sell it in March or so I will have had it for just about 7 years, so $4000/year. Or, if I get over $20,000 for it, which seems plausible based on cars.com prices, I could calculate another way.
You are 100% correct regarding selling the car for more than the payoff amount! One offer I've seen is about $4k beyond the payoff. But, I would then be back in the same position of dealing with limited new inventory (very hard to find the *right* spec in this market). Plus, if I were able to find a similarly equipped GLC, the lease payment would probably be higher, and I'd use up all of the equity on either trying to unsuccessfully lower the payment or dispatching of the markups that are going on right now for "on the lot" inventory.
This solution has allowed me a pre-shortage lease payment, a great car, and a solid block of time to perhaps negotiate/order my next car. I think there's still a chance I could make some money on it at lease end if I involve a third party. The amount of cash I paid up front was nominal (perks of dealing with a family member . . . who was very aware of market conditions and basically did me a huge favor).
And that is very interesting! Given your similarly limited mileage, is there a particular reason you have chosen to buy, rather than lease?
Given your similarly limited mileage, is there a particular reason you have chosen to buy, rather than lease?
Back when I would finance a car, new or used, I saw the period of driving the paid-off car as a way of building wealth, and it truly was. At that stage of my life everything fit into a budget, and once that, say, $300/month car payment was done, that was $300/month into savings. Eventually that worked out to be pre-payments for the next car. When I first started thinking about a GLC, I inquired as to the lease price. I think it was about $750 or so a month for 4 years the way I wanted it equipped. Then I asked how much of a down payment to buy it for $750/month and it was, I think, $25000 or $30000. Whatever it was it was less than the likely buy-out price at lease end. Knowing that my wife is very likely to be happy with the car for 6+ years I decided to buy, and I plan to pay cash, and to make "payments" of $750/month back into the account I take the $59,000 from.
Last edited by eddieo45; Dec 31, 2021 at 07:41 AM.
Back when I would finance a car, new or used, I saw the period of driving the paid-off car as a way of building wealth, and it truly was. At that stage of my life everything fit into a budget, and once that, say, $300/month car payment was done, that was $300/month into savings. Eventually that worked out to be pre-payments for the next car. When I first started thinking about a GLC, I inquired as to the lease price. I think it was about $750 or so a month for 4 years the way I wanted it equipped. Then I asked how much of a down payment to buy it for $750/month and it was, I think, $25000 or $30000. Whatever it was it was less than the likely buy-out price at lease end. Knowing that my wife is very likely to be happy with the car for 6+ years I decided to buy, and I plan to pay cash, and to make "payments" of $750/month back into the account I take the $59,000 from.
Thanks for sharing! I can see and appreciate the savings value in the lease option as well, as every car I have leased has had a lower payment compared to financing the same vehicle, which let me put that additional money "to work" immediately. I also use my car for work/business, and leasing allows me to write off expenses that I otherwise could not with a loan.
How many additional costs do you plan to incur from owning the vehicle out of the warranty period (including purchasing additional warranty, if you choose that option past 4 years/50k miles)?
How many additional costs do you plan to incur from owning the vehicle out of the warranty period (including purchasing additional warranty, if you choose that option past 4 years/50k miles)?
I've only had one car, the 2006 CLK350, that required a repair that would've been covered by a warranty: transmission work that was $1800, IIRC. I gave MBUSA a less than stellar review and they gave me a $500 service credit. I may have replaced an alternator another time. Everthing else has been brakes, tires and wheels, and oil changes. I did buy an extended warranty for the SL, mostly because a neighbor jinxed me, saying the retractable roof alone made the warranty a smart buy. Paid $3795 for coverage through September 2022 from Jeff Jackson at MB Louisville, a good $1500 less than other dealers quoted.
I've only had one car, the 2006 CLK350, that required a repair that would've been covered by a warranty: transmission work that was $1800, IIRC. I gave MBUSA a less than stellar review and they gave me a $500 service credit. I may have replaced an alternator another time. Everthing else has been brakes, tires and wheels, and oil changes. I did buy an extended warranty for the SL, mostly because a neighbor jinxed me, saying the retractable roof alone made the warranty a smart buy. Paid $3795 for coverage through September 2022 from Jeff Jackson at MB Louisville, a good $1500 less than other dealers quoted.
That's not too bad, overall. Sounds like mostly consumables. I almost bought my first car when my W204 C63 came out of lease. I had that car for 60 months, and I only had 15k miles or so on it. Extended warranty price was crazy, and I didn't want to take the risk on paying for anything engine or transmission-related out-of-pocket. Car had been bulletproof up to that point, too.
Got a mobile tech to install it. Came to my house and did it for $125. Took 45min.
wow, that's terrific. I really expected my body shop to charge $100 (and was secretly hoping they'd say "no charge" and I'd bring them a case of beer; I had recently added about $800 of out of pocket work to $0 deductible rear end damage repair). They gave me an estimate of $245 and said I have to get the laser "recalibrated" at an estimated additional $300. I told them to not worry about lasers, and that I hoped they would find it so easy they'd charge me $100. They ended up taking 3 days, charging $200 and putting the camera in upside down!
Did you see whether your installer had to looosen/remove the bumper? Your model is similar to my daughter's and if the grill goes in without bumper removal I may DIY it.
Did you see whether your installer had to looosen/emove the bumper? Your model is similar to my daughter's and if the grill goes in without bumper removal I may DIY it.
does not require bumper removal at all. in fact, he could've done the swap in <20 min if we didn't run into concerns with the 360 camera mount. in the end, the issue was not actually an issue, so no problems.
during the procurement process for an installer and he said he watched it. the hard part is the air scoops (you can read this throughout the forums). so here's the trick he told me that's not in the video. if you remove two bolts holding the bumper cover, you can flex that bumper piece enough to easily release the tabs and remove the air scoops. other than the air scoops, everything should be easy. here's a pic of the bolts im talking about—circled in red.
does not require bumper removal at all. in fact, he could've done the swap in <20 min if we didn't run into concerns with the 360 camera mount. in the end, the issue was not actually an issue, so no problems.
i sent him this video during the procurement process for an installer and he said he watched it. the hard part is the air scoops (you can read this throughout the forums). so here's the trick he told me that's not in the video. if you remove two bolts holding the bumper cover, you can flex that bumper piece enough to easily release the tabs and remove the air scoops. other than the air scoops, everything should be easy. here's a pic of the bolts im talking about—circled in red.
That is very helpful, thanks! I like how the guy in the video pointed out his difficulties and even the mistakes! I believe that tip about removing those bolts amounts to "loosening" the bumper, which is far less daunting than trying to figure out how to "remove" the bumper, which I assume my body shop did with my wife's 2022. Because the guy in the video couldn't get the left air scoop out he seemed to remove the old grille but pushing the left side in and the right side out; I assume yours came straight out. I also assume his tip about pre-installing the air scoops on the new grille is a bad one, as he seemed to walk it back afterwards. Lastly, I like how you and I stopped short of installing an AMG badge in our aftermarket grilles; just because we're modders doesn't make us posers, lol. I did debadge my wife's, so many people have no clue what model it is (including my wife, lol).
I'm not sure my daughter's 2017 even has a front-facing camera, but I'll be careful if if it does. As I said above, my body guy first put it in upside-down, and oddly enough when I picked it up I was telling him how one of the challenges I had read on the forums was getting the camera aligned properly and he scoffed "alligned?? it only goes in one way!!" Evidently, it can go in two ways!
Lastly, I like how you and I stopped short of installing an AMG badge in our aftermarket grilles; just because we're modders doesn't make us posers, lol. I did debadge my wife's, so many people have no clue what model it is (including my wife, lol).
i'm going for a blend of aggressive and luxury. i kept the chrome on the windows to accent the car alongside the grill, handles, roof rails, and exhaust. not sure if i want to debadge...
i have the glc43 rear fender flares coming in next week. but your lovely coupe already has 'em
and yeah, i would never put an AMG badge on my car
Originally Posted by eddieo45
I'm not sure my daughter's 2017 even has a front-facing camera, but I'll be careful if if it does. As I said above, my body guy first put it in upside-down, and oddly enough when I picked it up I was telling him how one of the challenges I had read on the forums was getting the camera aligned properly and he scoffed "alligned?? it only goes in one way!!" Evidently, it can go in two ways!
Sounds like your guys over complicated it. classic overthinking.
if you do it for your daughter and she has the camera, it really is no worries.
Sounds like your guys over complicated it. classic overthinking. if you do it for your daughter and she has the camera, it really is no worries.
Oh, I'll freely admit to that! After writing a check for $60,000+ I was really hesitant to get under the hood of my wife's pristine, perfect new car with my toolbox. My daughter's 5-year old model, lovely as it is, has enough wear and tear that I'm confident I won't make it any worse.
Does anyone know what these little black push-connectors are called? I removed her fron plate this weekend and holes left in the bumper leave a larger dimple/depression than the ones in my SL did. Those little connectors might fill the holes well, and they'll resemble distronic sensors I think.
I removed her fron plate this weekend and holes left in the bumper leave a larger dimple/depression than the ones in my SL did.
how did you remove the front plate bracket without removing the bumper? I wanted to do this but found no way without removing the bumper or destroying the bracket since the squeeze pins are inaccessible.
I have the standard North American front plate bracket from the dealer.
btw the holes can be filled with bumper plugs. Google/Amazon it for off the shelf products. Some have made their own smaller plugs using Home Depot plugs and touch up paint.
Mercedes SLR McLaren 722 S Is Extremely Rare Example Modified by McLaren
Slideshow: A one-of-one U.S.-spec Mercedes-Benz SLR McLaren Roadster became even rarer after a factory-backed transformation at McLaren's headquarters.
