Lease Return or Buyout?
Thread Starter
Junior Member
Joined: Dec 2005
Posts: 23
Likes: 0
From: The OC
2004 E55
Lease Return or Buyout?
Need some advice. It's time for me to return our 06 ML350. I had the car built and has all the features I wanted. Had to wait 6 months for it so I'm a little sad about giving it up. SO I was thinking about buying it out. My residue value on contract is $32,145 but they just offered me $29,500 today. Car is coming of a 39 month lease with 39k miles on it. Car is optioned out. What do you guys think?
Senior Member
Joined: Jul 2007
Posts: 314
Likes: 1
From: Ft. Lauderdale, FL
1972 280SE 4.5
Your truck sells for about $22,000 at auction, which is all your finance company can expect to get for it. If they sell it to you, they would be making a nice SEVEN THOUSAND DOLLAR PROFIT!
By the way, options mean nothing at auction. Unfortunately, in there a car's a car's a car.
Go to Kelly Blue Book (kbb.com) find the used car value of your car, and do the numbers.
Hope this helps.
By the way, options mean nothing at auction. Unfortunately, in there a car's a car's a car.
Go to Kelly Blue Book (kbb.com) find the used car value of your car, and do the numbers.
Hope this helps.
MBWorld Fanatic!
Joined: Apr 2008
Posts: 1,853
Likes: 9
From: Ottawa, Ontario, Canada
SLS Irridium silver,2014 GL350 BT Irridium, 2015 White Dodge RAM Hemi Quad
Return it, not worth buying anything right now, the cars are depreciating way to fast, get into a MY2009 which will have full waranty....Warren Buffet once said "NEVER buy a depreciating asset", unless of course you plan on keeping it for 10 years.
MBWorld Fanatic!
Joined: Nov 2001
Posts: 4,260
Likes: 6
From: Philadelphia area
2010 ML550, 2010 E350 4M, 1966 Corvette Convt C2
I recently had the same experience with my 05 E320 4M. MB finance has become very rigid and inflexable to the point of being really dumb if you use common sense and the numbers they quote. Unless you are in a bind for a vehicle and totally in love with your ML return it and lease a new one.I do not think that being in love with any vehicle that is easilly replaced is worth 7 grand.
MBWorld Fanatic!
Joined: Jun 2005
Posts: 2,358
Likes: 2
AlabasterWhiteSL ObsidianBlackML
I ran into a guy at the bank today and he mentioned that a dealer locally had offered him an 08 with 11k miles for $39k...i think 29.5k is TOO much for an 06 with 39k miles, you can do MUCH better 
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Senior Member
Joined: Nov 2005
Posts: 429
Likes: 0
From: South Florida
2006 ML500
The best price I got for my ML500 (loaded!) with 24k miles was $31,000 and that was a year ago before everything really started to take a dive.
My lease is up on my Infiniti G35 in a year, and I'm sure with a little research it would be much cheaper for me to by a used one outright than buy the one I've leased.
The only downside is I know all the history of my leased car since I'm the only owner. I've been burned before buying used!
My lease is up on my Infiniti G35 in a year, and I'm sure with a little research it would be much cheaper for me to by a used one outright than buy the one I've leased.
The only downside is I know all the history of my leased car since I'm the only owner. I've been burned before buying used!
