What is everyone leasing for?
Thread Starter
Junior Member
Joined: Jun 2007
Posts: 64
Likes: 0
What is everyone leasing for?
Looking to lease a new 2010 S 550 4matic loaded with AMG package. My recent quote was 36 months, $4k down and $1600/month. It is a 15k miles/year lease.
What are the best deals on 2010 leases right now?
Thanks for the help!
Kyle
What are the best deals on 2010 leases right now?
Thanks for the help!
Kyle
Member
Joined: May 2010
Posts: 184
Likes: 0
From: New Orleans
2008 S550 AMG
There is absolutely no reason to lease ever. I just got burned for turning my lease in. I went over the miles, and even though my car was Perfect, I still got a couple thousand dollars in physical damages before I was hit with the mileage. I even bought new tires and replaced a cell phone sized crack in the windshield.
My grand total was $6900 to give it back. WTF
I lost and I will never lease again.
My grand total was $6900 to give it back. WTF
I lost and I will never lease again.
Member
Joined: Nov 2004
Posts: 153
Likes: 0
I agree about leasing - though to be fair to "brownbomber" that was not the question he asked.
Since I don't lease, I can't answer the question.
But I can say that leasing is like buying the "new half" of the car and giving back the "old half" to the dealer. No matter what you are paying per month, don't expect to get that new half at a bargain.
Since I don't lease, I can't answer the question.
But I can say that leasing is like buying the "new half" of the car and giving back the "old half" to the dealer. No matter what you are paying per month, don't expect to get that new half at a bargain.
Member
Joined: Jul 2010
Posts: 95
Likes: 0
2007 S550
I've glanced at lease takeover scenarios before which are good since you nearly completely cut out the down payment, and based on the numbers I saw, that lease seems like a good deal.
Especially considering its loaded.
Especially considering its loaded.
MBWorld Fanatic!
Joined: Jun 2007
Posts: 1,936
Likes: 350
From: Huntington NY
S560
I don't know what the current lease numbers are, but if you check leasetrader you should be able to see what some people are paying.
Leasing is not always a bad idea. It depends on the numbers. If you are a person who holds a car for ten years or puts on a lot of miles then yes leasing is bad. But if you get a new car every few years then the math might make sense. It depends on how aggressively priced the lease is. In a high tax state like NY or CA leasing does get the added benefit of paying tax on only the lease payment and not the residual. I have leased a dozen vehicles and never had them come back to me with one issue (even though some had visible damage). I own all of my vehicles now, but I will certainly lease again...
Leasing is not always a bad idea. It depends on the numbers. If you are a person who holds a car for ten years or puts on a lot of miles then yes leasing is bad. But if you get a new car every few years then the math might make sense. It depends on how aggressively priced the lease is. In a high tax state like NY or CA leasing does get the added benefit of paying tax on only the lease payment and not the residual. I have leased a dozen vehicles and never had them come back to me with one issue (even though some had visible damage). I own all of my vehicles now, but I will certainly lease again...
Super Member
Joined: Jan 2008
Posts: 650
Likes: 24
From: Texas
2015 White/brown Nappa S550, '13 S550 4 matic, 11 S550 sold, '10 S550 Sports BLACK 08 S550 P3 sport
long story short. I think its a good deal. enjoy the car man.
Junior Member
Joined: Feb 2008
Posts: 46
Likes: 0
From: Fairfield County, CT
2005 SL500; 2008 S550
I have a 2008 4MATIC with AMG that I pay $1700/mo for. Nothing down and 15K/year (which I have exceeded). I will probably buy the car when it comes off lease (so I should have bought it from the beginning.)
Trending Topics
Member
Joined: Mar 2010
Posts: 82
Likes: 0
From: Westchester County New York
2011 E5504, 2008 MB S5504 (gone), 2010 BMW x6 50i, 2011 ML350 (wife) 2008 BMW 535xi (gone);
It is easy to calculate what you should be paying. you need to know the residual and money factor, which set each month by MB financial in the first week of each month. It changes based upon what corporate wants to push for a given month....The
goal is the lease from the best agreed capitalized cost (just like purchasing... if the car is 100k try to lease from an agreed price of 92 etc..). When you lease you are paying the depreciation (calculated by residual) plus the moneyfactor, which is interest. S classes do not lease well. MB financial always sets residuals low and MF (interest rate) high.....BMWs lease much better as they do not depreciate as quickly and they generally have more favorable money factors. BMW also gives you options with excess mileage which MB does not offer....If you know how to use a lease calculator you can find out exactly what you should be paying.
goal is the lease from the best agreed capitalized cost (just like purchasing... if the car is 100k try to lease from an agreed price of 92 etc..). When you lease you are paying the depreciation (calculated by residual) plus the moneyfactor, which is interest. S classes do not lease well. MB financial always sets residuals low and MF (interest rate) high.....BMWs lease much better as they do not depreciate as quickly and they generally have more favorable money factors. BMW also gives you options with excess mileage which MB does not offer....If you know how to use a lease calculator you can find out exactly what you should be paying.
MB World Stories
The Best of Mercedes & AMG
8 Oddball Mercedes Ideas That Actually Made it to Production
Verdad Gallardo
Dubai Tuner Gives the Mercedes G-Class An Entirely New Look
Verdad Gallardo
Six Gift Ideas Your AMG Loving Dad or Grad Will Cherish
7 Craziest Things AMG Gas Ever Built
Verdad Gallardo
New Electric Mercedes-AMG GT 4-Door Coupe Unveiled: 10 Things You Need to Know
Verdad Gallardo
6 Mercedes Models That Did NOT Age Well (But Are Somehow Still Cool)
Verdad Gallardo
Manual Mercedes? 6 Times Sindelfingen Let Drivers Have All The Fun
Verdad Gallardo
Mercedes SLR McLaren 722 S Is Extremely Rare Example Modified by McLaren
Verdad Gallardo
8 Classic Boxy Mercedes Designs That Have Aged Like Fine Wine
Verdad Gallardo
Member
Joined: Mar 2008
Posts: 81
Likes: 0
From: Iowa
'08 S550 4MATIC SPORT,DODGE VIPER GTS,ML350 BLK/BLK
I lease a new S Class every 3-4 years and run it through one of my compaies.No headaches,just order a new one,turn in the old one and start the whole process over.It works for me.
MBWorld Fanatic!
Joined: Jun 2007
Posts: 1,936
Likes: 350
From: Huntington NY
S560
Out Of Control!!
Joined: Jun 2008
Posts: 10,557
Likes: 24
From: Earth
Porsche Macan S SportDesign / Ex M-B's: 11 & 10 & 06 E350's, 02 S500
I guess I can chalk that amount up to the "Luxury" of having the option to just turn in my car at the end of the Lease if I don't want it anymore. I do like the idea of knowing I babied the car, and it's a product of my care, so it'll be better than buying any other Used E-Class.
I Leased because I didn't want to tie up $60K of money into a car. But in retrospect, is it better to keep it in the Bank? I guess it's a piece of mind thing.
Still, I crunched the numbers, and I know, if I would have just bought the car outright, even if it sells for less than it should in 3 years, I probably would still make out with a lower "Monthly Payment" if I split the depreciation cost by month, than I am now. And I worked a pretty good Lease Deal to boot.
Sorry for O/T.
MBWorld Fanatic!
Joined: Sep 2007
Posts: 3,008
Likes: 58
From: Poconos, Pennsylvania
Protecting the Earth from the Scum of the Universe
I'm a fan of leasing also but everything depends on numbers, not too difficult to figure out the real costs of owning the vehicle for that time.
Although I must say that I was "forced" to buy my CL, the numbers they quoted me on the lease at that time were insane.
There is another plus to lease. In case you total the car or the vehicle is stolen (no recovery), you walk away clean, GAP insurance covers the difference. No loss to you, unless you were foolish enough to put any downpayment
Although I must say that I was "forced" to buy my CL, the numbers they quoted me on the lease at that time were insane.
There is another plus to lease. In case you total the car or the vehicle is stolen (no recovery), you walk away clean, GAP insurance covers the difference. No loss to you, unless you were foolish enough to put any downpayment
MBWorld Fanatic!
Joined: Jun 2007
Posts: 1,936
Likes: 350
From: Huntington NY
S560
Out Of Control!!
Joined: Jun 2008
Posts: 10,557
Likes: 24
From: Earth
Porsche Macan S SportDesign / Ex M-B's: 11 & 10 & 06 E350's, 02 S500
Seriously? That's insane. The Finance Manager told me otherwise (of course) when I did my Lease. And said that it "wouldn't just disappear", i.e would get flipped into the new deal or something.
I've heard some people pay their entire Leases up front, that's quite a risk if that's the case.
I put a decent chunk down on my Lease, because I have this mentality of hating to see a high Payment in front of my face every month, yet when the money is spent, I don't really think of it anymore.
Also, with CA's insane Taxes, lowering the payment does save in the long run pretty considerably.
I've heard some people pay their entire Leases up front, that's quite a risk if that's the case.
I put a decent chunk down on my Lease, because I have this mentality of hating to see a high Payment in front of my face every month, yet when the money is spent, I don't really think of it anymore.
Also, with CA's insane Taxes, lowering the payment does save in the long run pretty considerably.
MBWorld Fanatic!
Joined: Jun 2007
Posts: 1,936
Likes: 350
From: Huntington NY
S560
Out Of Control!!
Joined: Jun 2008
Posts: 10,557
Likes: 24
From: Earth
Porsche Macan S SportDesign / Ex M-B's: 11 & 10 & 06 E350's, 02 S500
Yeah. I don't know how they split it, but I know that they Tax you on your actual monthly payment (9.75) here.
For example, for every $3K you'd put on a Lease (at least when I was running numbers on my car), it knocks the *total* money owed on the Lease itself down $600 or so.
Well, I'm just gonna hope I don't total my car.
For example, for every $3K you'd put on a Lease (at least when I was running numbers on my car), it knocks the *total* money owed on the Lease itself down $600 or so.
Well, I'm just gonna hope I don't total my car.
Member
Joined: May 2003
Posts: 92
Likes: 0
From: Lawng Island NY
2015 BMW 640ix GC (Ruby Black)
There is absolutely no reason to lease ever. I just got burned for turning my lease in. I went over the miles, and even though my car was Perfect, I still got a couple thousand dollars in physical damages before I was hit with the mileage. I even bought new tires and replaced a cell phone sized crack in the windshield.
My grand total was $6900 to give it back. WTF
I lost and I will never lease again.
My grand total was $6900 to give it back. WTF
I lost and I will never lease again.
I leased through US Bank and found they had a reputation for really piling on the extra charges at lease turn-in. I had many sleepless nights as my lease came to an end and it made me regret not buying or at least going with MB Finance.
As it turned out I paid nothing because I was told by a rep that, in effect, US Bank doesn't pull those tricks in NY, NJ and a couple of other states. Might have something to do with the NYS law that is supposed to protect consumers against frivolous excess wear charges, don't know.
While I don't like selling cars the biggest reason I leased my E63 was the risk of diminished value in case I got into an accident. If you lease, just get the thing fixed by an authorized body shop and you're good to go.
Newbie
Joined: Sep 2010
Posts: 1
Likes: 0
c350
I've found leasing to be worth it, especially if you're able to write the payments off thru a business. I always end up getting more money for the buck in terms of options, etc., with leasing compared to a purchase.
http://www.TakeMyPayments.com has listings for leases available for transfer.
http://www.TakeMyPayments.com has listings for leases available for transfer.
