Streamliner

So disappointed. I leased a new 2013 S550 in late 2012. It is a 24 month lease. I have a new ML coming next month. Not being made of money, I figured that I would just extend the lease on my S550 for another year or two, until it was more comfortable to spring for a new S. Called MB Financial today and got the bad news. I can extend the lease ONLY up to six months. Then, my ONLY two options are to return the car or buy it. I won't buy it, as a used S550 is not a good investment. So, I guess I'll just give it back to MB and we'll be a three car family, not a four. Whomever came up with this policy should be taken out back and, well, "convinced" that he or she REALLY SCREWED UP! If a customer wants to keep a two year old car for another year or two and pay the SAME MONTHLY PAYMENT as they paid for a brand new car, wouldn't you think that MB would accommodate them? Yet another example of how MB sometimes goes out of their way to make your life miserable. Ultimate luxury is all about giving the customer more choices and options. Oh, please, Mercedes-Benz, please ALLOW me to give you my hard earned money and to continue driving your two year old car. NO! VEE CANNOT ALLOW DIS! VHERE ARE YOUR PAPERS? VEE MUST HAVE YOUR PAPERS--AND ZEE CAR! TAKE HIM! TAKE HIM!!

Mike5215

The residual on an S on a 24 month lease is so much higher than on a 36 or 48 that even though you were covering a shorter term, your payments would have been higher on a longer lease. MB wants the car back before the big depreciation hits, or they'd rather you buy it.

WEBSRFR

So why not just do another 24 month lease? You can likely have a similar lease payment for a newer car? Your loss would be the taxes and fees paid upfront but you can enjoy the new toys of the W222.

Streamliner

My lease payment is $1469.00, for 15K miles a year. A lease on a 2015 would, more than likely, be well over $2,000.00, not to mention the down payment.

amdeutsch

I have to ask now why you would expect MB to carry you under the same terms while extending - no or not enough details on your counter offer to them.

How does that make you any different from them? They are making an offer and you want more but are not saying what you are willing to give.

I guess to use your description of this whole ordeal I can see **** on the other side as well.

It seems to me that a lot of society has come to this: me first and damn the rest (business) - unless me and business are one and the same.

$0.02

WEBSRFR

Why not just buy or finance a 2010/2011 CPO? Their depreciation is now around $1,000 a month. Assuming you then sell it after 1-2 years you still end up paying less than if you continued your $1,500 lease.

You can't really fault Mercedes on this one. They don't want an open ended lease and they want to get what they know they can for the car now as that's how they calculated your lease payment. Mercedes owns the car and you are only borrowing it from them so Mercedes has the right to set their terms for use of the property they own.

Given a budget of around $1,500 a month I see no reason why you can't be in an S class but perhaps not the exact car you are currently leasing.

Mike5215

I was in that same boat. I wanted to lease a 2013 S550 hoping to capitalize on a close out. I wanted to be at around $1100 a month in payment but I couldn't get enough movement on the MSRP. (They'd come $20k off retail on a purchase, but MBF wouldn't allow that $20k as a cap cost reduction against a lease.)

Instead I bought a 2010 with 3 years of CPO and came in under $1100. Financing through MB was 1.9%. The plan is to keep it for three years and then trade it for a W222 CPO.

Quadcammer

lol thread backfire. Can't expect them to extend the lease at the same terms.