Deals on purchasing a lease return?
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From: Land of 10,000 lakes
AMG GTC Roadster, E63s Ed.1, M8 Comp. Coupe
Huh? I got a nicer car ( S Class ) that had a msrp of $$123,000 that I got for $73,000 and that included a better warranty then a new car comes with.
So, my $50,000 off retail beats your deal hands down. No luck, just know how to find great deals on great cars.
Btw, I've done similar deals on the three CPO 911's I've owned.
So, my $50,000 off retail beats your deal hands down. No luck, just know how to find great deals on great cars.
Btw, I've done similar deals on the three CPO 911's I've owned.
Some people like new, some like used (to minimize depreciation), some like to buy and some like to lease.
Point is that it is a question of preference or budget, not one of smarts. 99% cars are a loosing proposition financially anyway
You assume that you are better off with a CPO but you won't know that until you sell the car. The percentage of depreciation may just be the same.
Also, you didn't really save $50k off retail since it's a used car, not a new one. Last detail; the CPO warranty is quite good but actually inferior to a new car warranty in terms of coverage. There are a lot of material exclusions so I am not sure why you think it's better...
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2014 S550 AMG, 2017 XT5
Yes. As I understand it, whatever was covered before the 4yr/50k ran out is covered for an extra year, so 5yr/unlimited. At time of purchase, we were offered an add'l 2 yrs for $3,500, so ttl 7 yr/unlimited. I would imagine $4k for the 6th and 7th yrs is likely. There are dealers mentioned on this site who will sell you the add'l 2 yrs at hopefully less than you would have paid the selling dealer. Check the Carfax for the in service date as that's is when the clock starts ticking.
http://www.autotrader.com/car-shoppi...es-benz-239524
http://www.autotrader.com/car-shoppi...es-benz-239524
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2014 S550 AMG, 2017 XT5
Couple of thoughts...
Some people like new, some like used (to minimize depreciation), some like to buy and some like to lease.
Point is that it is a question of preference or budget, not one of smarts. 99% cars are a loosing proposition financially anyway
You assume that you are better off with a CPO but you won't know that until you sell the car. The percentage of depreciation may just be the same.
Also, you didn't really save $50k off retail since it's a used car, not a new one. Last detail; the CPO warranty is quite good but actually inferior to a new car warranty in terms of coverage. There are a lot of material exclusions so I am not sure why you think it's better...
Some people like new, some like used (to minimize depreciation), some like to buy and some like to lease.
Point is that it is a question of preference or budget, not one of smarts. 99% cars are a loosing proposition financially anyway
You assume that you are better off with a CPO but you won't know that until you sell the car. The percentage of depreciation may just be the same.
Also, you didn't really save $50k off retail since it's a used car, not a new one. Last detail; the CPO warranty is quite good but actually inferior to a new car warranty in terms of coverage. There are a lot of material exclusions so I am not sure why you think it's better...
The ability to extend the CPO also gives you Unlimited Mileage. This would absolutely be a benefit to those that put-on the mileage...
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2014 S550 AMG, 2017 XT5
Steve,
Your bought a used car. USED. You do not know what the dealership owned the car for, therefore you have zero clue how much you overpaid. When I was a finance manager in the car business all the big gross deals were on used cars. All the heavy hitter salespeople sold used cars. The new cars had no margins. The used cars we made big gross profit on. Your used car might have been bought wholesale for $64,000 for all you know. You just "think" you got a good deal. You will never know. While some record dealer was smoking weed and farting in your used car for two years, I was driving my new car and enjoying it while you were waiting for the record dealer to stop partying and farting in your $60,000 USED car. Which you paid $73,000 for.
Your bought a used car. USED. You do not know what the dealership owned the car for, therefore you have zero clue how much you overpaid. When I was a finance manager in the car business all the big gross deals were on used cars. All the heavy hitter salespeople sold used cars. The new cars had no margins. The used cars we made big gross profit on. Your used car might have been bought wholesale for $64,000 for all you know. You just "think" you got a good deal. You will never know. While some record dealer was smoking weed and farting in your used car for two years, I was driving my new car and enjoying it while you were waiting for the record dealer to stop partying and farting in your $60,000 USED car. Which you paid $73,000 for.
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From: Land of 10,000 lakes
AMG GTC Roadster, E63s Ed.1, M8 Comp. Coupe
Unlimited mileage doesn't make it a better warranty though. Coverage matters. Nobody pays for factory warranty when buying new and the coverage is more complete. New car warranties can be extended just like CPO's of course and all those are the same MB extended warranties...
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From: Marina Del Rey, CA
2015 MBZ S 550
My 3 x CPO 911's and my CPO S Class were horrible purchases. I'll never do that again!!!
Thank you, thank you, thank you!!!
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Volvo XC90
You've convinced me! Next car I buy I will buy a brand new off the lot and have you negotiate on my behalf. Cuz god knows, no one ever messes with a brand new car on test drives. No farting, speeding or car dings from car dealership valets moving them around.
My 3 x CPO 911's and my CPO S Class were horrible purchases. I'll never do that again!!!
Thank you, thank you, thank you!!!
My 3 x CPO 911's and my CPO S Class were horrible purchases. I'll never do that again!!!
Thank you, thank you, thank you!!!
Last edited by Rockland; Jul 2, 2017 at 06:08 PM.
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From: Venice Florida
2018 S560
I just traded my 2012 AMG for a 2015 S550, seemed like a pretty good deal. Got the S550 for 64K and they gave me 42K for the AMG, so 22K plus taxes tag and title. The sticker on the S550 was 107K, it just has Distronic, nappa leather and surround view. It's Pallidium with beige and brown interior, nice car. 33K miles on it. Probably not the worlds greatest deal but I kinda wanted to be driving a S for the next few years. Got a 2.5 year certified warrantee.
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From: Land of 10,000 lakes
AMG GTC Roadster, E63s Ed.1, M8 Comp. Coupe
Just guys should take it easy...
I know plenty of guys buying used that could buy whatever new car they want. No reason to label. Used cars are fine and great deals can be had.
Socialsteve is happy with his car and that is what counts
I know plenty of guys buying used that could buy whatever new car they want. No reason to label. Used cars are fine and great deals can be had.
Socialsteve is happy with his car and that is what counts
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From: Venice Florida
2018 S560
One thing I wonder is if the service history of the previous owner could effect the buyer of a CPO car? Say the previous owner never did a brake flush and something happened with the braking system after the new buyer bought the car. Could Mercedes deny warrantee coverage because the brake fluid was not flushed as per mercedes maintenance schedule and there was no documentation to prove it? Anyone had any issues with this and a CPO car? Just me worrying about something I should probably not even be thinking about as the car does have 2.5 years of warranty left. I'm a fairly detail orientated person. I'd think because the dealer certified the car that past service history would have no bearing on the warrantee? Not sure if the car I'm getting was serviced regularly because nothing shows up on the carfax under service. For all I know there may be receipts with the car in the owners manual, but I still have not seen the car yet, they are getting it out of another dealer. I figured I'd be safe because there is 500 mile 7 day drive provision when you buy a Benz CPO car, if you don't like the car within this time you can return it and exchange it for a equal or greater value car.
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From: Marina Del Rey, CA
2015 MBZ S 550
One thing I wonder is if the service history of the previous owner could effect the buyer of a CPO car? Say the previous owner never did a brake flush and something happened with the braking system after the new buyer bought the car. Could Mercedes deny warrantee coverage because the brake fluid was not flushed as per mercedes maintenance schedule and there was no documentation to prove it? Anyone had any issues with this and a CPO car? Just me worrying about something I should probably not even be thinking about as the car does have 2.5 years of warranty left. I'm a fairly detail orientated person. I'd think because the dealer certified the car that past service history would have no bearing on the warrantee? Not sure if the car I'm getting was serviced regularly because nothing shows up on the carfax under service. For all I know there may be receipts with the car in the owners manual, but I still have not seen the car yet, they are getting it out of another dealer. I figured I'd be safe because there is 500 mile 7 day drive provision when you buy a Benz CPO car, if you don't like the car within this time you can return it and exchange it for a equal or greater value car.
In essence, it's like buying a new car at a used price with a longer warranty. My 2015 CPO S Class needed front brakes, so it got front brakes. One of my CPO 911's needed 4 new tires, so it got 4 new tires.
I wouldn't worry. Once it's been CPO'ed, MBZ will honor all warranty issues. My car just got back from its 3rd servicing and I mentioned the trackpad didn't work well when the car got hot, they replaced the whole unit. I also mentioned that the smell thingy wasn't working, they replaced the whole system.
The receipts for servicing follows the VIN, I am sure if you asked for them, they would be happy to email them or print them out for you.
Enjoy your new ( to you ) car!!!
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From: Marina Del Rey, CA
2015 MBZ S 550
It's all about priorities...
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S, GL
The dealership would probably not give it a CPO warranty if there were service records missing. And, the concept is that after it goes through its CPO inspection process, anything that needs fixing, changing, repairing, etc will get done before it goes for sale. I am sure if it had been in any kind of an accident beyond a body panel being repainted it would get rejected.
In essence, it's like buying a new car at a used price with a longer warranty. My 2015 CPO S Class needed front brakes, so it got front brakes. One of my CPO 911's needed 4 new tires, so it got 4 new tires.
I wouldn't worry. Once it's been CPO'ed, MBZ will honor all warranty issues. My car just got back from its 3rd servicing and I mentioned the trackpad didn't work well when the car got hot, they replaced the whole unit. I also mentioned that the smell thingy wasn't working, they replaced the whole system.
The receipts for servicing follows the VIN, I am sure if you asked for them, they would be happy to email them or print them out for you.
Enjoy your new ( to you ) car!!!
In essence, it's like buying a new car at a used price with a longer warranty. My 2015 CPO S Class needed front brakes, so it got front brakes. One of my CPO 911's needed 4 new tires, so it got 4 new tires.
I wouldn't worry. Once it's been CPO'ed, MBZ will honor all warranty issues. My car just got back from its 3rd servicing and I mentioned the trackpad didn't work well when the car got hot, they replaced the whole unit. I also mentioned that the smell thingy wasn't working, they replaced the whole system.
The receipts for servicing follows the VIN, I am sure if you asked for them, they would be happy to email them or print them out for you.
Enjoy your new ( to you ) car!!!
It is still a car dealer, so the formula still dictates = greatest profit for least amount of work
I've seen CPOs that have been in accidents, fake rims, unauthorized modifications, etc
The "certification " is only as good as the $10/hour tech doing said certification
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From: Marina Del Rey, CA
2015 MBZ S 550
There is nothing wrong with CPO, but you are so gloriously wrong about the "quality" or stringent standards of a CPO
It is still a car dealer, so the formula still dictates = greatest profit for least amount of work
I've seen CPOs that have been in accidents, fake rims, unauthorized modifications, etc
The "certification " is only as good as the $10/hour tech doing said certification
It is still a car dealer, so the formula still dictates = greatest profit for least amount of work
I've seen CPOs that have been in accidents, fake rims, unauthorized modifications, etc
The "certification " is only as good as the $10/hour tech doing said certification
My Mercedes fell a bit short of this. No software updates were done, but the car was completely serviced, with almost brand new tires and new brakes on the front axle.
Oh, btw, gloriously wrong is a great term!!!
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2010 E350 4Matic
My son just told me about his new to him 2016 Scott Spark Ultimate which had an MSRP of $12.5K. Ironically he told me what a good deal he got by buying it used. He didn't say how much
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From: Marina Del Rey, CA
2015 MBZ S 550
My last purchase was a hand made modern steel road bike with custom paint. Cost the original owner $4,800.00 for the frame and for alone in 2014. I paid $1,500.00 for it. Except for a couple of small marks in the paint, you cannot tell from new...
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Volvo XC90
As if depreciation plays favorites. And people actually pay MSRP. Lol. Smh.
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For all I know , CPO is the biggest scam invented . I have a dealer friend and he admitted to me that dealer s CPO ANY car because that's what public wants to buy and think they are getting a reliable, throughly tested and checked out car . Nothing could be farther from truth.. CPO is just another used car minus the obvious blemishes that would raise red flags .. mechanically , they are as good or worse as any other car at the same year and mileage ..:
Senior Member
Joined: Jan 2017
Posts: 485
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From: Marina Del Rey, CA
2015 MBZ S 550
For all I know , CPO is the biggest scam invented . I have a dealer friend and he admitted to me that dealer s CPO ANY car because that's what public wants to buy and think they are getting a reliable, throughly tested and checked out car . Nothing could be farther from truth.. CPO is just another used car minus the obvious blemishes that would raise red flags .. mechanically , they are as good or worse as any other car at the same year and mileage ..:
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From: Venice Florida
2018 S560
I get the feeling Benz has fairly high Standards on CPO, Oh well I guess I will find out when I see the car I bought sight unseen later this week. I know if I don't like it I'm not obligated, Benz has a 1 week 500 mile return Policy on their CPO cars, that gives the buy another edge.
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From: SoCal
2016 E350 wagon
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Joined: Jul 2013
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From: Venice Florida
2018 S560
I looked at quite a few CPO S550's and most are lease returns and I'd say they were not taken care of as well as a car that was owned outright, but these cars are tough and as long as you can have the dealer take care of the cosmetic stuff like dirty carpets and blemishes dents and dings your getting a fair deal with that extra 1 year unlimited mileage warrantee tagged on.
