chi63

Hey everyone, happy new years to all and good luck with all the new year resolutions My resolution this year is to be economical and with that..

I just wanted to give my mbworld folks a heads up and let you know I am going to be putting my 2009 black c63 AMG up for a lease takeover by the end of the month (Jan 2010). Figured, I'd rather give it to an enthusiast like ourselves before putting it up to the rest of the public..

Here are the details:

Car was leased through Daimler Trust from Napleton Autowerks in Rockford, IL in July 2009 with 5,530 miles. The current reading on the odometer is just under 8,000 miles. I have a work car, since this was a weekend car, so the miles are very low and with the cold winters here in Chicago, the car is rarely driven, always kept in a heated garage, never seen snow...

The car comes with all stock AMG features as well as a few additions:
-New Toyo T1R tires placed on all four 18" AMG wheels
-Set of additional 4 rims w/4 blizzak winter tires (never used them)
-AMG Leather Package (AMG embossed on headrests)
-Aluminum trim package (not dark wood as I have seen in others)
-Nicely tinted windows (not too dark but not too light, never had a problem)
-DVD bypass from Midwest City Engineering in Chicago, IL
(allows you to drive while using navi, ability to play movies, videos, etc)
-ipod/iphone cable hookup with AV inputs for sound/video
(allows you to play videos/music off iphone/ipod)
-451 hp

There are 30 months left on the lease with a monthly payment of $1,076.05. Total mileage allowed on vehicle is 40,038. If my math works out correctly, that works out to about 1,068 miles to be averaged per month over the 30 remaining months.

I have babied this car like none other and am very particular about reading up on mbworld.com and ensuring that this car receive the best care. I honestly don't NEED to get rid of it but it would really help me out with a new business endeavor I will be starting later this year. I am an honest individual simply looking for someone to take over a good deal on a great car. Serious inquiries only and I am more than happy to accomodate and work with anyone interested. Fee free to email at asimdds@gmail.com or call 312-480-8720. If anyone is interested, you are more than welcome to come inspect the vehicle.

Thanks for your time guys

Don't worry guys, pictures to follow...

rory breaker

Looks like a good deal with the add'l allowed mileage - good luck!

chi63

Thanks rory!!

Here are a few pics that I have..feel free to email me for more and any additional photos you would like..

chi63

Crap. Okay if anyone wants LARGER pictures, just email me at asimdds@gmail.com

mbe3504matic

Sorry NO one in their right mind would take over a lease unless you threw money in to sweeten the deal. Especially at almost $1,100 per month. You can go and buy a new one with that kinda payment and some money down.

rory breaker

How much money down then, in your estimation, to get that payment? That would result in a savings benefit since you dont have to pay that. The fact that you wont own this depreciating asset that will be worth $28k in 30 months is another benefit versus buying one used.

Like everything else, has to be the right buyer. Someone who wants a badass car without the financial anchor that comes with it.

efivefiveamg

Disagree. ANYONE in the market for a C63 should consider deals like this. I don't know how good of a montly payment this is, but not having to put $5k down is a huge benefit. Although, in this market most lease takeovers are coming with attractive cash incentives.

chi63

Thanks efive and rory for your kind support. I agree w/you guys 110%. Saving money without having to place a down payment of ($5k-10k) and additionally getting into a lease without a 48 month constraint def. has its advantages..

mb33504matic-Thanks for taking the time to look and read my post but please, I'm just offering my car for re-lease, nothing else. I'm not asking for an opinion, I should have mentioned that as a disclaimer in the first post

E55AMGGG04

The way I look at it. $1k/month for 30 months is over $30 grand plus whatever original put into it will = out to making no sense to return at lease end. car should be almost paid off. What kind of buyout option is there on this car ?

chi63

E55AMG-Thanks for your concern and although people may have different thoughts on the deal, it is what it is

chi63

Seriously guys, this thread is simply about a car lease available which I thought I'd bring up to us fellow amg enthusiasts. It's a great car, in excellent condition and I just wanted you guys to have the first shot at it.

If you have comments about leasing vs. buying, etc, there are other threads for that.

Thanks again guys!

chi63

Some pics with the winter rims/tires and interior..

mbe3504matic

Great go and take over the lease since you think it is such a great deal.

efivefiveamg

You must have scored off the charts in reading comp.

Bump for a sexy beast, gluck with the sale.

chi63

Thanks efive!

what do you guys think about me, trading the lease in at a dealer for another, more economical lease? I've read about payoff quote, car value, etc. but what do you guys think? I'm sure the lease on my next car may not be the best rate but as long as its more economical, I can live with that..

efivefiveamg

assuming that by economical you mean cheaper mthly payment...it almost never makes sense to trade down on a lease this early on in the lease term. i still think you should sit down and crunch the numbers with MB, but I just don't think it will work out for you. if you're really in a tough spot, your best bet may be to offer an attractive incentive to entice someone to take over your lease. but even then, you will have to factor in the costs of getting into something else (which I assume is a neccessity for you).

chi63

efive, thanks for the quick reply..

and yes, i was referring to cheaper monthly payments

The payoff quote is about 20k higher than the trade-in value, round about..
So, if my understanding is correct, the dealer would roll 20k into a new car, but say I financed it? Would that help?

Either way, I know I'm going to take a hit, I'm just trying to take the least amount of hit, even if that means paying more in the longrun.

taylorcoleman

I thought I read that you have a car for work -- does this mean that it's a car that your company leases and you drive? If this is so, and you can drive it outside of work-related travel, the most economical thing to do I think is to offer a very attractive incentive for someone to take over your lease and NOT get a replacement.

Setting aside the "value" you get from driving a cool car, you're essentially burning about $1K/mo on your C63. Let's assume the real value of driving this car is 0 (and I realize that one could argue it's something greater than 0). Therefore you are committed to about $30K in wasted expense.

Then make an assumption of how long it will take you to transfer your lease to someone else without an incentive. Obviously this is impossible to do with certainty, but you'll need to consider that if the lease itself that you have is not inherently attractive (independent of the car) it could take quite a while.

I'd say it could take you 6 months or more to find someone to take over your lease without an incentive. I say this because my non-professional experience is that people are more attracted to leases on higher-end cars with 24 months or fewer. Essentially, the reasoning is that they pay the same rate as a much longer lease term, but for a shorter timeframe commitment.

So, you may assume you're out at least $6K, maybe more. So why not offer perhaps a $3K - $4K incentive for the lease transfer? Assuming this incentive allows you to transfer the lease before your next payment, you will save $2-$3K -- assuming it would otherwise take 6 months.

You can then run a similar methodology if it takes longer for you to transfer the lease, as your incentive would change as the months may ensue.

rory breaker

Thats good advice. Every month that passes you are another $1100 into it with nothing to show at the end. May as well put a $3k incentive out there for anyone willing to take over the payments before April.

chi63

You guys are right!! Taylor, thanks for taking the time to post your reply and it makes total perfect sense! So, what kind of monthly lease rate would make this transfer more appealing you think?

mbe3504matic

At least 10k incentive or else you will eat this car till lease end. You got raped on the lease price and the out of pocket cash when you picked up the car in the heat of the moment.

taylorcoleman

First, don't listen to mbe3504matic. For some reason he's a hater and I'm not sure what is motivating his unfounded and useless posts to your thread.

I'm not sure what you mean by, "montlhy lease rate"? I've not checked the money factor on a C63 lease from MBF for a long while. If I were to guess, I'd say it's probably similar to what it was about a year ago (~.0040 or apx. 9.5%). That's very expensive money. If the money factor is about the same today, I still think you're in a fair position for someone to take over your lease with a $3K - $4K incentive. If you don't get any takers, you'll have a greater chance of having someone take over your lease as you reach the 24 month and below timeframe. Then your incentive paid will be less (but then you're out the $6K or so getting to that point).

I'm sure you've posted your car on swapalease and leasetrader...

chi63

mbe350-I don't know what your deal is but you said your part. I'd appreciate you keeping your opinions to yourself from now on.

taylor-leasetrader,swapalease...here I come!!

X2Board

Just try to sell it outright. You may even get a fair offer from a dealer to buy it back.

chi63

X2-That's def. an option I'll check out. But it seems if my payoff is higher than what the dealer will give me (most probable if not for sure) I will be responsible for the difference no? I"m thinking I may just use that add'l money that I owe and put it forward to a cheaper car like an accord or tsx and it'll probably be a bad deal (right?) but atleast I can manage my finances better until then?