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Lease Takeover: 2013 C63 Sedan
Thread Starter
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pocket rocket
Lease Takeover: 2013 C63 Sedan
Polar White
Black Napa Leather Package
Carbon Fiber Trim
KEYLESS-GO
Lighting Package
Multimedia Package
Lane Tracking Package
36 months lease, 35 months left, 650 miles on the odo, 12k miles allowed a year. Leased through MB Financial. Residual 59%, MF 0.00205. All the standard fees have already been absorbed by me.
Monthly: $708 + tax. Top Tier credit required.
One time payment to me: $7000. I put in a lot more than $7000 - you can crunch the numbers yourself. My loss, your gain.
If you have a different offer, PM it to me and I'll consider it. 0 down offers won't be entertained because there's a trade-in offer on the table for more than that.
Car will be available until the end of July.
Black Napa Leather Package
Carbon Fiber Trim
KEYLESS-GO
Lighting Package
Multimedia Package
Lane Tracking Package
36 months lease, 35 months left, 650 miles on the odo, 12k miles allowed a year. Leased through MB Financial. Residual 59%, MF 0.00205. All the standard fees have already been absorbed by me.
Monthly: $708 + tax. Top Tier credit required.
One time payment to me: $7000. I put in a lot more than $7000 - you can crunch the numbers yourself. My loss, your gain.
If you have a different offer, PM it to me and I'll consider it. 0 down offers won't be entertained because there's a trade-in offer on the table for more than that.
Car will be available until the end of July.
MBWorld Fanatic!
Joined: Dec 2008
Posts: 2,169
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From: San Diego
Hyperion's Candy-Coated 4 x 4
Who in God's name advised you to put more than $7k down on a lease and pay nearly 6% (MF x 2400) a year in interest? I can see why you are getting rid of the car after only 1 month.
Thread Starter
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pocket rocket
For the MF I researched both edmunds and ridewithg and 0.002 was the lowest MF for the C63 back in May. AFAIK C350 is going for 0.00225 this month, so I don't know what you're talking about?
The down payment factored into the low monthly. The numbers don't lie.
MBWorld Fanatic!
Joined: Dec 2008
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From: San Diego
Hyperion's Candy-Coated 4 x 4
You're right, your deal is so good that your car has sat here since June. And just because that may have been the best money factor back in May doesn't mean you should be foolish enough to take that deal. AND YOU SAID YOU PUT A LOT MORE DOWN THAN $7k!!!
Look forward to seeing this car on here 6 months from now. By the way, wasn't it supposed to be gone by the end of July?
Last edited by Pertplus; Oct 2, 2013 at 10:00 AM.
Thread Starter
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Joined: Aug 2011
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pocket rocket
You're right, your deal is so good that your car has sat here since June. And just because that may have been the best money factor back in May doesn't mean you should be foolish enough to take that deal. AND YOU SAID YOU PUT A LOT MORE DOWN THAN $7k!!!
Look forward to seeing this car on here 6 months from now. By the way, wasn't it supposed to be gone by the end of July?
Look forward to seeing this car on here 6 months from now. By the way, wasn't it supposed to be gone by the end of July?
July didn't happen partly because I wasn't motivated to sell it because I liked the car more the more I drove it, so it became kind of a dilemma which car I wanted to keep in the garage. Then I flew out for work for a month, so now I'm starting back at the beginning again.
I'm just another enthusiast who swapped cars a lot, but I did the same research most people have done. A quick glance through Google tells me that most C63s leased for 1k a month and above with less miles annually.
Thread Starter
Newbie
Joined: Aug 2011
Posts: 6
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pocket rocket
You're right, your deal is so good that your car has sat here since June. And just because that may have been the best money factor back in May doesn't mean you should be foolish enough to take that deal. AND YOU SAID YOU PUT A LOT MORE DOWN THAN $7k!!!
Look forward to seeing this car on here 6 months from now. By the way, wasn't it supposed to be gone by the end of July?
Look forward to seeing this car on here 6 months from now. By the way, wasn't it supposed to be gone by the end of July?
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MBWorld Fanatic!
Joined: Dec 2008
Posts: 2,169
Likes: 75
From: San Diego
Hyperion's Candy-Coated 4 x 4
If my numbers are super off, let me know where exactly it's super off so I can learn something. I did all the calculations beforehand and nothing appears out of the ordinary. MF is fixed, that wasn't something I can change, and it doesn't look like the MF is changing a lot right now.
July didn't happen partly because I wasn't motivated to sell it because I liked the car more the more I drove it, so it became kind of a dilemma which car I wanted to keep in the garage. Then I flew out for work for a month, so now I'm starting back at the beginning again.
I'm just another enthusiast who swapped cars a lot, but I did the same research most people have done. A quick glance through Google tells me that most C63s leased for 1k a month and above with less miles annually.
July didn't happen partly because I wasn't motivated to sell it because I liked the car more the more I drove it, so it became kind of a dilemma which car I wanted to keep in the garage. Then I flew out for work for a month, so now I'm starting back at the beginning again.
I'm just another enthusiast who swapped cars a lot, but I did the same research most people have done. A quick glance through Google tells me that most C63s leased for 1k a month and above with less miles annually.
I am not saying your calculations necessarily are off, what I am saying is, the deal you got blows and why would you ever put $7k or more down on a lease? You never see that money again (as you now well know). And it doesnt really benefit any future buyer if you are asking for that money from them. Why? Because when you put down money on a lease, you arent getting a better deal, you are just paying more money up front. So this "great deal" at $700 ish a month is because you put down a grip of money for a lease. The interest rate conversion from the money factor you have blows. If someone has sterling credit, they can just go to any MB dealership and get the top tier MF for about .00127 I believe (which is what I got in 2012 for my CLS63).
Why would they lease a used C63 and pay money down, when they could do better by not putting money down and getting a brand new one? What would your monthly lease have been had you not put $7k+ down for the lease? $1200? $1300? $1100? So how is your deal any better? You just paid money up front what others decided not to -- and probably at a worse "interest rate". Don't forget you paid sales tax on your downpayment also.
Last edited by Pertplus; Oct 2, 2013 at 04:53 PM.
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Thread Starter
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Joined: Aug 2011
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pocket rocket
MF is not not "fixed"...as the Money Factor depends on your credit worthiness and the level of risk you pose in the eye of the dealership. So yes, the MF you get depends on how good your credit score is, so maybe the MF you could get was .00205 but that doesn't mean that there were not better money factors out there.
I am not saying your calculations necessary are off, what I am saying is, why would you ever put $7k or more down on a lease? You never see that money again. And it doesnt really benefit any future buyer if you are asking for that money from them. Why? Because when you put down money on a lease, you arent getting a better deal, you are just paying more money up front. So this "great deal" at $700 ish a month is because you put down a grip of money for a lease. The interest rate conversion from the money factor you have blows. If someone has sterling credit, they can just go to any MB dealership and get the top tier MF for about .00127 I believe.
Why would they lease a used C63 and pay money down, when they could do better by not putting money down and getting a brand new one? What would your monthly lease have been had you not put $7k+ down for the lease? $1200? $1300? $1100? So how is your deal any better? You just paid money up front what others decided not to -- and probably at a worse "interest rate". Don't forget you paid sales tax on your downpayment also.
I am not saying your calculations necessary are off, what I am saying is, why would you ever put $7k or more down on a lease? You never see that money again. And it doesnt really benefit any future buyer if you are asking for that money from them. Why? Because when you put down money on a lease, you arent getting a better deal, you are just paying more money up front. So this "great deal" at $700 ish a month is because you put down a grip of money for a lease. The interest rate conversion from the money factor you have blows. If someone has sterling credit, they can just go to any MB dealership and get the top tier MF for about .00127 I believe.
Why would they lease a used C63 and pay money down, when they could do better by not putting money down and getting a brand new one? What would your monthly lease have been had you not put $7k+ down for the lease? $1200? $1300? $1100? So how is your deal any better? You just paid money up front what others decided not to -- and probably at a worse "interest rate". Don't forget you paid sales tax on your downpayment also.
I don't disagree with anything else you said about paying down payments on leases in general. It's the rule I usually follow except for this case because there was a lot of equity that I just applied. Except that the monthly is still very low compared to what the leases normally run, a $500 saving per month pre-tax is still $6000 a year. So unless the next guy is also a serial swapper like me, the savings is not lost.
Thanks for the info though. I understand where you are coming from.
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Joined: Dec 2008
Posts: 2,169
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From: San Diego
Hyperion's Candy-Coated 4 x 4
