KyleE

Trying to find a lease on an S550 (loaded) white/black that fit my needs.

I need 3 years, with 25k miles per year. Don't want to buy cause of the hassle of trying to sell a car with 75k + miles in 3 years.

Anyone know what numbers I should be looking at when going to the MB dealer?

Any help would be great!


Thanks!

deniska

I dont think MB financial does leases over 15k miles per year..

hdtv22

The problem with the structure of this lease is that you are going to drive the ***** out of it within 3 years. In 3 years that car is going to be selling for $10K less than a similarly equipped variant, and it will be terribly difficult to move because for a 3 year old car, 25K miles is a lot of driving. That being said, I'd advise you to buy a used 2007 S550. The residual on a new one would be really low because of the mileage, making the payments probably around $1650/mo. If your keeping it for 36 months, thats $59,400, and in that price range you can get a well equipped S550 from 2007 with low mileage. When you have put 100k miles on it, you can sell it and recoup some of your costs, while driving a car with freedom, and more importantly, getting a car because MB Financial does not do 25K miles a year.

KyleE

I spoke to my local dealer yesterday and they will lease me a car with 25k/year...but it'll cost me. I showed him on MBUSA.com that the current offer is 1200-1300/month for an S550. So I know the payments will be higher because of the miles, and hdtv hit it right on the head. He said the payments would be around 1800/month for something like that. Fully loaded also.

Thats wayyyy more than I want to spend for a daily driver. If I can get an S550 for 1200-1300 with 25k/year i'd be thrilled, but as of right now, I don't see it happening. I am supposed to talk to a friends dealer this morning in regards to VIP leases (not sure what the story is with them, but hopefully we can work something out)

BMWFanboyy

The problem with the deals on the MBUSA website is that they require a lot of money down, like $6000-$7000, which is always a bad idea on a lease. I'm also looking into an S550 and the money factor on 36 and 48 month leases went down big time this month from last month so that's a good thing. I'm trying to nail down what kind of prices people are getting relative to invoice on 2009s and/or any trunk money but unfortunately this seems difficult to find.

619brick

Let me know what kind of deals you guys end up with. I too am looing at leasing a S550 in the next 3 months.

KyleE

I just went to the dealer by my office and he offered me "ambassador" lease on an fully loaded 09 S550 with a 109k sticker. I need 25k miles/year so it was like $1950/month. Way more than I am looking to spend. I have a call into another dealer that says he may be able to do it for $1300/month. Any ideas why the difference? I could've sworn this dealer told me 1800/month same terms BEFORE ambassador pricing. What is the difference between a normal lease and ambassador lease?

BMWFanboyy

There's no way he can get you down to $1300/month unless he asks you to put like $10,000 down or something. I don't negotiate payments, I negotiate the sale price of the car just as if I were buying with cash and make sure they don't markup the money factor. If we can figure out how much people are paying relative to invoice then we can figure out the payments from there.

WSH

Negotiate the price of car as one would any car being bought

Should get a >5% discount in current economy and w/factory incentives....IIRC, MB has heavy inventories of unsold, new '09 S550s...and facelifted '10 S550 is <6mos away from US arrival

Know money factor and residual value of $0 down, 3yr, 15K mi/yr lease, based upon one's negotiated price; IIRC, dealers have a bit of profit in MF they offer; residuals are largely set by MBF every mth

Determine cost of additional miles, beyond 45K total (cash penalty paid at end of lease) as per MBF lease contract...IIRC, penalty for excess mis is fairly cheap...and consider that sometimes near-end-of-lease factory-sponsored arrgmts are available to encourage one to trade-in sooner (before lease end) to lease another new S-Class, making the excess miles penalty an academic calc

KyleE

The biggest thing holding me back is the miles. I need 25k a year and it raises the payments 300-400/month! How do I get around this?!

hdtv22

Buy an 07 S550, drive the heck out of it, and then sell it for $10-12K. Comes to around $1222 a month.

KyleE

That is also a good idea and I am currently looking into that as well. However it looks like the warrenty won't last very long. What is the deal with warrenties on CPO cars?

Also, any idea of how soon before lease end they may let me trade it in? I'd need to make the swap after 2 years on a 3 year lease, or after 3 years if I did a 4 year lease.

Since mileage will be so high after 3 years, why can't they offer me a 2 year lease or something? I'd be happy to keep leasing MB cars if they did that. Right now, my best option looks like a CPO purchase.

CY

Dude get a starmarked 2007 with the 7 year 100,000 mile warranty it is a way better deal and will suit your needs much better as well.

KyleE

I've been looking all morning at 07's so far. This is a good idea.

Are there any changes between 07 and 09 cars? Most seem to be in the 60's with low miles. When is the new bodystyle coming out? This will probably cause them to drop real fast. Are all CPO cars 7 year 100,000 mile, or is this something additional I'd need to purchase?

Blk04cobra1

CPO cars come with the 5year/100k mile warranty with your purchase price. That means, 5 years from the "in-service" date or 100k miles, whichever comes first. You can purchase up to 24 months of additional warranty, bringing it to 7 years or 100k miles. You are right, most '07 S550s are falling in the high 50's to low 60's. Right now the pre-owned market is in such high demand, so you should be able to find one easily.

hdtv22

One thing to consider is that buying a car with financing is pretty tough, considering the car may be $56K but you are paying nowhere near that after interest.

In your case, can you buy cash? That would be your best solution.