Key to key program?
12-20-2018, 08:33 PM
#1
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GLC300
Key to key program?
Hey guys,
I own a 2017 GLC 300, which I am financing from MB Canada. I just got a call from MB Canada about “key to key” program, where they said I could exchange my car for a newer version with the same or “equal” payment. Does this sound legit or do they do this often? Maybe my car’s value is higher than what i am paying for?
It sounds too good to be true... especially considering that they wouldn’t do anything that is of profit for them.
Any advice would be great!
I own a 2017 GLC 300, which I am financing from MB Canada. I just got a call from MB Canada about “key to key” program, where they said I could exchange my car for a newer version with the same or “equal” payment. Does this sound legit or do they do this often? Maybe my car’s value is higher than what i am paying for?
It sounds too good to be true... especially considering that they wouldn’t do anything that is of profit for them.
Any advice would be great!
12-20-2018, 09:56 PM
#2
You would have to run it through a spreadsheet.
A: estimate the trade-in value, B: estimate the market value , C: find out what the payment is for the new car if you just buy it
- A: Depreciate your car (rule of thumb method) to find the current residual value. (rough estimate you have lost 15K if list was 40K or 18K if list was 50K)
- B: go to auto trader or cars and find out @ what a GLC of your MY your specs go for
-C: Use spread sheet to find out what the payment plan is for new car if you just buy it
Armed with the above numbers, you should be able to evaluate their offer.
A: estimate the trade-in value, B: estimate the market value , C: find out what the payment is for the new car if you just buy it
- A: Depreciate your car (rule of thumb method) to find the current residual value. (rough estimate you have lost 15K if list was 40K or 18K if list was 50K)
- B: go to auto trader or cars and find out @ what a GLC of your MY your specs go for
-C: Use spread sheet to find out what the payment plan is for new car if you just buy it
Armed with the above numbers, you should be able to evaluate their offer.
12-21-2018, 12:13 PM
#3
Junior Member
Hey guys,
I own a 2017 GLC 300, which I am financing from MB Canada. I just got a call from MB Canada about “key to key” program, where they said I could exchange my car for a newer version with the same or “equal” payment. Does this sound legit or do they do this often? Maybe my car’s value is higher than what i am paying for?
It sounds too good to be true... especially considering that they wouldn’t do anything that is of profit for them.
Any advice would be great!
I own a 2017 GLC 300, which I am financing from MB Canada. I just got a call from MB Canada about “key to key” program, where they said I could exchange my car for a newer version with the same or “equal” payment. Does this sound legit or do they do this often? Maybe my car’s value is higher than what i am paying for?
It sounds too good to be true... especially considering that they wouldn’t do anything that is of profit for them.
Any advice would be great!
12-21-2018, 04:55 PM
#5
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2018 GLC 43 & 2014 SLK 350, gone 2016 E63 Wagon
The key to key program is MB's way to entice you into a new vehicle - particularly if you have financed. They contacted us for my wife's SLK350 when the mileage was relatively low (and presumably the trade-in value would be "high") - we said no. As we got close to the end of the finance period they called again to see if we wanted to 'upgrade' to a new vehicle (nope). I had the same experience with my 2016 E63 wagon but this time I decided to take them up on the deal - the terms worked for me. It is a legit program that MB offers to keep you in new vehicles.
12-21-2018, 06:42 PM
#6
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GLC300
The key to key program is MB's way to entice you into a new vehicle - particularly if you have financed. They contacted us for my wife's SLK350 when the mileage was relatively low (and presumably the trade-in value would be "high") - we said no. As we got close to the end of the finance period they called again to see if we wanted to 'upgrade' to a new vehicle (nope). I had the same experience with my 2016 E63 wagon but this time I decided to take them up on the deal - the terms worked for me. It is a legit program that MB offers to keep you in new vehicles.
12-21-2018, 10:24 PM
#7
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Join Date: Feb 2015
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2018 GLC 43 & 2014 SLK 350, gone 2016 E63 Wagon
It really depends on the replacement vehicle, the amount that you have already paid off on the financing, the value of your current vehicle, etc.. Going from the E63 represented a reduction in my monthly payment but remember that you are basically starting again regarding the financing term (i.e., 3, 4, 5, years). In the end you basically keep the same/similar payment for longer.
