heffneil

So the lease is going to end on my S550 in October. It is a 30 month lease and I have a total of 6400 miles on it (Didn't drive it that much). I leased it for 10k miles a year because that was the lowest mileage they had available. I took the car to car max for a buy out price to see if I would have some benefit to selling to to them. Turns out carmax offered me $62k. I then had them call MB Financial and the pay off is $70k! I don't know if that is good or bad. I was hoping I would have some equity with the low mileage but apparently not. I have had success with my Cadillac Escalades. Now I parked the S550 in front of my Tesla and I won't drive anything but the S550 to even Home Depot (why not?)

Thoughts?

LovinMercedes

In the good old days, you used to be able to get some equity built up on these cars, in some limited circumstances.

Today, MB Financial uses the residuals as a financing tool to lower monthly rates. It is very unlikely, in recent years environment, that you will ever be able to build up equity in your car, compared to the residual buyout value.

Rockland

Just turn in the lease and move on.
Let MB slap a CPO sticker on it and sell it to the next guy for $75000.

Wolfman

For the purpose of a lease, that approach seems better than paying more for the rare event of building enough equity in case of a sale/trade.