Maybe you guys can help me. I have a 2013 S550 (w221 of course), and I have $14k left on the finance payments then it’s finally all mine. Unfortunately, even at 90k miles I am already thinking of how much this is going to hold up. I don’t worry about the engine at all, but in the past 18 months I’ve had two major suspension issues, a leak, a rod issue, and a few other things. All were covered by my extended warranty which just ran out this past summer.

My trusted (non-MB affiliated) mechanic suggested that I drive this car until the warranty runs out, then upgrade. Surely he would fare much better if I kept the current car. This is why he’s trusted.

Anyway, I’m thinking about taking his advice because the MB dealership where all my cars are leased or financed from (past: E350. Current: S550 and new GLE350) has a ruby black metallic S560 in stock with literally every option and specification I want. It seems like fate, if you know what I mean.

So first of all, would you cut your losses with a beloved 2013 S550 with 90k miles, or hang onto it.... for what, I don’t know. Those new S class renderings look ugly af.

Next, and most important questions: if I do go for the 2019 S560 ($121k) I have already unlocked $900+ in dealer discount so I have a guaranteed price of $111k. That’s not counting any fees, etc. I would lease this one, not buy. My current S550 would definitely cover the $14k I have left , but how much would my trade in value be after that? $8k ? A grand? (Car is in excellent shape currently, having been recently serviced) Basically, I don’t want to do it if I end up with a $1800 monthly payment or something like that. Frankly, I don’t want to do this if it’s more than $1,400/month ALL SAID AND DONE.

With the figured i provided, is this possible? I’ve only financed an S class before, never leased. Give me some things to look out for, and above all tell me if I can get that monthly I want. Thanks.

 

If you don't mind saying - what were the terms of your finance? Assuming you took delivery in the end of 2012 (for a 2013 model) S Classs - That would be 7 years of payments plus you still have $14k still yet to pay - I was wondering how long MB let you finance it for. I know back then - interest rates were pretty much near zero so it made sense to finance for a long period of time since it was almost free to borrow.

 

So, in effect, you are willing to pay upwards of $100K (over time) in order not to have an out-of-pocket expense in the $10K range ?!?

It seams to me that if you kept the current vehicle, and took the money you would be spending on the new vehicle and put it in your own "personal warranty bank account", such that if nothing happens to the car in the next two months, you will be money far ahead from then on in.

Then after a few years, if anything does sour your interest in this current car, you may even have enough to buy the next S-class out-of-pocket without any financing whatsoever.

Then, while driving the non-financed vehicle, you will find that you never need vehicle financing again, and you won't be paying somebody for driving <purportedly> "your" own car.

 

All I can say is don't ever put money down on a lease.

 

It seems like you keep your cars for a while, if so why not look at a 2016 or 2017? You can pick up a nice 2017 with under 20K miles for about half the cost of new. These cars have a massive depreciation hit in the first two years. Leases are great if you have to have a new car every 2-3 years but if you have a trusted mechanic and are OK driving the same car for a while I would seriously look at a lightly used example. These are pretty reliable cars at this point and with sub 20K miles you are in essence getting a new car.

 

I agree. Lease new or buy CPO.

 

Previous issues don't seem out of ordinary...I would hold on to it and just get a another warranty, powertrain at least.

 

Right but how long do I hold onto it for? With the recent wave of repairs (standard as they may be) I would be lying if I said I felt confident about the vehicle like I used to. In fact, if my family and I go on any road trips we take the new GLE, not the 2013 S class.

I remember once driving from PA back to NY and the transmission fluid started leaking (closer to PA than NY!!) and we had a harrowing drive. Another time more recently when the suspension went, I nearly couldn’t get off a main road and the car was rocking and shuddering.

I absolutely adore the car, but I ask myself: do I want to drive a car that I can’t totally count on? And it brings up the larger question: Is it even worth financing cars as I did with the S550 when I could lease instead (like the GLE) ?

 

Yeah it is worth financing cars because you will OWN them. Trade in the 2013 for a low mileage W222.

 

But why am I feeling like ownership doesn’t matter now that I *almost* own the 2013 S550? Yes, there will be some equity in the vehicle, but what good is it if I’m just applying it towards the next vehicle because I can’t confidently drive my current car anymore?

 

Not sure why you financed a 100K car over 7 years unless you had a super low APR. People typically lease for a variety of reasons but it is typically because they get bored with a car fast and want to drive a new one every few years, or they cannot afford to just buy the car, or they can write off the lease payment as a business expense. As I said before, if you keep your cars for a while, you are financially almost always better off buying a slightly used example when it comes to luxury cars.

 

I am in the UK and back in March this year I bought a Mercedes approved used 2015 S500 AMG line.
It was a one private owner car in very very good condition, it had 40000 miles on the clock,and it had a very comprehensive Mercedes warranty , which I can renew each year up until the car is 9 years old I think.
The retail price when new on the job build sheet I got with it was £99800, I actually paid just £32800 for it.
It absolutely drives as new, a wonderful car.
Take a look at approved used cars from your local ( and not so local ) Mercedes dealers.

 

Assuming your 2013 was around $115,000 and you financed it at 75 months, your payment has probably been around $1700 /month. A lease payment is likely to be at least that much if not higher.