vsamak

I have a 2002 ML 500 which has been a pleasure to drive. I got quotes from MBCredit for extending the lease and financing (4.9% 60mos!!) which were all good numbers that I'm considering. I'd happily keep the car, but for the MCS.

The MCS is my biggest pet peeve in this car. It's like the 11th hour solution that was done by the janitors at Mercedes cuz the engineers didn't know what a navigation is.

If I do buy the car, what option have you guys considered to make the NAV better? Also, what's available to plug in an external MP3 player like an iPod or something else? I currently plug in my ipod through the tape adapter, which is fine but not ideal since I have 2 cords hanging around the console.

I'm very interested to hear what vendors, options and prices you have seen...

Also, any end-of-lease negotiation tips would be great, for here in Philly or on the west coast which is where I'm going.

Thanks!

sosh

Last August my 02 ML500 lease was due to expire. I wished to extend for a year and MBCC quoted me the same price I had been paying and this was unacceptable as the vehicle was worth less than new. I ended up having the GM of my dealership intervene with his relationship manager and the price was suddenly reduced to a reasonable amount. Also on the 01 E320 I had I had extended a year at a reduced reasonable rate without needing to go to the dealer. That vehicle was replaced several months ago for a new 05 E320 4M and I have a W164 on order to replace my ML in August.

55fanatic

well because you have the MCS with Navi you could replace it and add an aftermarket Navigation system. I replaced the factory MCS unit with an Avic N1 by pioneer... it shows the route in 3D if you choose. Has aux in option for adding an MP3 player or pretty much anything for that matter... not a bad way to go, Ill post some pics for ya soon, I havent had a chance to pick up an MB pocket though as my truck has been in the shop for the last month

vsamak

hey that sounds pretty good...pictures would be great...how does this affect the TeleAid? Can you still use it or did you give up on it? I think it would pretty useful in case of emergency or for vehicle theft, tough I've hardly used that thing...

vsamak

Sosh,
the lease quote is actually lower than my current payment, by about $33. Not much, but given the residual and the low money rate, that's not so bad. By how much did your 1 year extension monthly lease decline?

I'd imagine vehicles don't loose value as fast in the 3-5 year period as they do in the 1-3 year period, so maybe the residuals should be higher. My benefit now is that I only have 22k miles on the ML 500. But the financing rates for purchase are extremely good, considering you can't find 4.9% 4 or 5 year financing anywhere.

55fanatic

I got 2.9% for 6 years a couple years ago in August of 03 when I purchased my ML... if you can get in to some small credit unions you can find better loan rates.

As far as the Tele Aid goes, never used it and dont know what it is... I figure a cell phone will work just as good as tele aid... and if the car was to get stolen, it would be by a proffessional and they would know how to disable tele aid as a tracking device

sosh

My lease decreased about $125.00 per month after the renewal. Remember if you do not need additional miles fight for a no mile renewal as you have already paid for the ones that are unused. Also, if you do extend the lease do not mod the MCS as they will hammer you at the end when the car is returned.

vsamak

I went back and forth on this with MBCredit, but the lease numbers stay. They lowered my payment only slightly to include no additional miles (18k left on lease) for 12 months, and very low money factor. THe kicker is the residual after 12 months is 22% below the value of the car now and that's because they have the new ML coming up so they are rapidly discounting these cars. I don't know if new models make such steep depreciation in cars, but this is really crappy.

Which makes the purchase more attractive from the monthly financing standpoint, at 4.9% for 60 months, plus no prepayment penalty, which means I can sell it again next year if I don't like it anymore. Lease isn't much flexible.

I don't know, I don't see myself leasing/financing a new ML cuz I want to buy a house and will need another car, plus I'm not seeing any great deals on equivalent vehicle already. They told me the financing offer stands thorughout April cuz they anticipate rate increases.

Any other out there negotiating with MB Credit? What are they offering on leases/financing for new MLs?