End of Lease
Thread Starter
Member
Joined: Dec 2006
Posts: 161
Likes: 1
From: Endicott NY
2014 ML350 Bluetec, 2016 GLC 300, 2023 Corvette, Z51 Stingray
End of Lease
Has any one done a buyout after their lease expired, and if so do you regret it? The lease on my 2009 ML350 will expire next May 2013. The buyout is 23K. I special orderd the car and took delivery in May 2009. It has just about every option excluding air matic suspension. To date I have had no major issues. Two that were covered under warranty, pin hole leak in lower radiator hose after only 1,500 miles and the drivers side mirror turn signal indicator wires broke. Passenger side developed same issue and getting fixed and under warrenty. I guess I fold in my mirrors too often.
Other than routine maintenance, all performed buy a local independent MB shop, and tires, the vehicle has treated my wife and I very well. I also had the 3M clear paint protection installed. Even though I leased it it has been well worth having it on the vehicle.
Just curious as to others experience and thoughts.
Thanks in advance for your feedback.
Mark
Other than routine maintenance, all performed buy a local independent MB shop, and tires, the vehicle has treated my wife and I very well. I also had the 3M clear paint protection installed. Even though I leased it it has been well worth having it on the vehicle.
Just curious as to others experience and thoughts.
Thanks in advance for your feedback.
Mark
Last edited by MAmendola; Mar 10, 2012 at 08:24 AM. Reason: spelling
MBWorld Fanatic!
Joined: Nov 2001
Posts: 4,260
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From: Philadelphia area
2010 ML550, 2010 E350 4M, 1966 Corvette Convt C2
Although I have never purchased a leased car there is nothing wrong with doing so. Just keep in mind that you can negotiate the price with MB Financial. Their offers keep getting better towards the end of the lease.
Member
Joined: Sep 2011
Posts: 131
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From: Lake Tahoe
w164 (ml 500)
Just as an example: We leased a BMW M6 that was to have at then end of it's lease a residual of $76k when turned in, it was sold for $55k. Bought by a friend of the family.
Why didn't we buy it? We had lived with it and well it was not the car we wanted to keep. On the other hand we did keep a Range Rover for almost 10 years after buying off our lease back in 1995.
If you can live with the lease programs that are out there now and have a budget that covers the cost, leasing is a great way to update technology for your every day driver.
On the other hand if you have bonded with this vehicle, Buy it and drive it till it dies, you will come out money a head.
Mark
Why didn't we buy it? We had lived with it and well it was not the car we wanted to keep. On the other hand we did keep a Range Rover for almost 10 years after buying off our lease back in 1995.
If you can live with the lease programs that are out there now and have a budget that covers the cost, leasing is a great way to update technology for your every day driver.
On the other hand if you have bonded with this vehicle, Buy it and drive it till it dies, you will come out money a head.
Mark
Newbie
Joined: Nov 2005
Posts: 1
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From: chicago, IL
2001 c240
We purchased a certified per owned ML350 that was previously leased and turned in at 29K miles. Well treated by 1st owner evidently. My wife and I really like the car and purchased it for more than 23K in 2011, only one week after it was turned in from the lease.
If you can keep it for 23k or under I would.... Personal call
If you can keep it for 23k or under I would.... Personal call
Member
Joined: Mar 2010
Posts: 95
Likes: 1
2009 ML550
Not exactly applicable, but I did buy my 2003 FX45 after the lease expired because I loved the car! Ended up keeping it for a total of 8 years. Have not regretted it whatsoever! Probably not the best financial arrangement, but in the long run...who cares. I loved it, I kept it, plus I knew I had serviced it appropriately.
Having said that, I always had warranty on it - official, factory warranty.
Having said that, I always had warranty on it - official, factory warranty.
Thread Starter
Member
Joined: Dec 2006
Posts: 161
Likes: 1
From: Endicott NY
2014 ML350 Bluetec, 2016 GLC 300, 2023 Corvette, Z51 Stingray
Thanks for the responses. Thus far My intention is to buy out the lease. I am fairly certain I can get it for under 23k. As I mentioned the lease is up in May 2013. I love driving it and so far no issues. My independent MB mechanic is fairly certain I will continue to experience lots of care free miles.
