2021 S580 Lease Offer
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Mercedes s580
2021 S580 Lease Offer
I'm currently in a E43 with my current lease ending in May 2022. I do not want to buy out this car at the end of lease. Options are very limited right now, but I'm considering a 2021 S580. Car is being offered for 124k MSRP with 7K dealer COVID markup (down from 10k they were originally requesting). Inventory very limited and they will not budge further on purchase price. I'd rather not finance because I have no plans to keep this car for longer than 3-4 years.
I'm being offered the following lease options from the dealer:
36/12k for $2550. $60K residual
48/12k for $2100. $52K residual
I realize that these lease options aren't great, but how crazy would I be to take them?
I'm being offered the following lease options from the dealer:
36/12k for $2550. $60K residual
48/12k for $2100. $52K residual
I realize that these lease options aren't great, but how crazy would I be to take them?
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Crazy to me also. Bad deals.
So 131K plus taxes is the price, and the residual is less than 50%? Curiously, is there a down payment and do those numbers include taxes/fees?
So 131K plus taxes is the price, and the residual is less than 50%? Curiously, is there a down payment and do those numbers include taxes/fees?
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Mercedes s580
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Still way too much, I wouldn't touch it. You can finance 140K at 4% for 60 mos at about 2500 per month, that alone tells you this is a bad deal. Lease rates today are not as attractive as they once were, especially when you roll the markup into the payment. Tough market for consumers.
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Volvo XC90
Still way too much, I wouldn't touch it. You can finance 140K at 4% for 60 mos at about 2500 per month, that alone tells you this is a bad deal. Lease rates today are not as attractive as they once were, especially when you roll the markup into the payment. Tough market for consumers.
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MBWorld Fanatic!
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From: Maryland
2024 S580
Fing stupid lol. When you consider that my lease on my 2020 is $1,050 a month less than your 36k mile option with the same MSRP...I would wait lol. If thats the best deal I can swing on an S580 when my time comes this will be my first and only S Class...
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Panamera, '63 Impala
44% residual for 48 months and 7.5k. Numbers will probably get better towards the end of the life cycle. From what I remember the residual for 48 months on a W222 in 2018 was nearly 50%.
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Mercedes s580
Thanks. I know these aren't great numbers. Does a 48 or 60-month loan still make sense if I'm planning on getting out of this car once the financing has finished? I'm going to be putting 10-12K miles per year on it with my commute.
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2024 S580
the big killer is the capitalized cost. Mine was $20k off list, when it’s $7-10k OVER list that really makes the payment high.
Do you write a vehicle off as a business expense? That’s the only reason I would lease vs buy with a similar payment. Otherwise yeah buy it and trade it in at the end.
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Volvo XC90
msrp $146k
10% discount
$132k + tax
48 months at 1.72%
$45k down payment
$1960+ tax 48 months
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2024 EQE 500
You'll have the equity in the car at the end of your loan to use towards next purchase/lease. If you simply lease at the above rates for a similar term you end with nothing. If lease rates were still competitive, then that would be the route I'd go but in this case a purchase makes more sense, especially if you can purchase form a dealer without a markup.
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You'll have the equity in the car at the end of your loan to use towards next purchase/lease. If you simply lease at the above rates for a similar term you end with nothing. If lease rates were still competitive, then that would be the route I'd go but in this case a purchase makes more sense, especially if you can purchase form a dealer without a markup.
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Please keep in mind that there is NO reason to get out of an existing (and usually better) lease deal early. Sales people are calling all their customers before year-end to get their commissions up either by doing pull aheads at uncool rates and to convert leases to sales and makes money on CPO & extended warranty sales.
If I were you I would wait it out. ADM on a S-Class should be a no-go unless you are desperate and non-subsidized MF rates will go away sooner rather than later. Definitely in a 7 months time frame... Also strongly discourage anyone from considering a 48months lease. They make no financial sense; you pay $108k into a $130k car you don't own.
If leasing you might also want to consider a lower mileage. Go with 10k miles, pick up the extra point on residual and then pay for miles at lease end if needed. Better yet, make the miles part of the next car negotiation (do not roll them in though). Better yet, go for 7500 if usage permits. Residual has a big impact on monthly payments.
Residual is non-negotiable and S-Classes have always been terrible.
If I were you I would wait it out. ADM on a S-Class should be a no-go unless you are desperate and non-subsidized MF rates will go away sooner rather than later. Definitely in a 7 months time frame... Also strongly discourage anyone from considering a 48months lease. They make no financial sense; you pay $108k into a $130k car you don't own.
If leasing you might also want to consider a lower mileage. Go with 10k miles, pick up the extra point on residual and then pay for miles at lease end if needed. Better yet, make the miles part of the next car negotiation (do not roll them in though). Better yet, go for 7500 if usage permits. Residual has a big impact on monthly payments.
Residual is non-negotiable and S-Classes have always been terrible.
Last edited by Wolfman; Dec 21, 2021 at 05:22 PM.
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2024 S580
I have actually had very good success with 48 month leases on expensive vehicles, trading out of them after 36 months and getting the payoff +.
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Mercedes s580
Please keep in mind that there is NO reason to get out of an existing (and usually better) lease deal early. Sales people are calling all their customers before year-end to get their commissions up either by doing pull aheads at uncool rates and to convert leases to sales and makes money on CPO & extended warranty sales.
If I were you I would wait it out. ADM on a S-Class should be a no-go unless you are desperate and non-subsidized MF rates will go away sooner rather than later. Definitely in a 7 months time frame... Also strongly discourage anyone from considering a 48months lease. They make no financial sense; you pay $108k into a $130k car you don't own.
If leasing you might also want to consider a lower mileage. Go with 10k miles, pick up the extra point on residual and then pay for miles at lease end if needed. Better yet, make the miles part of the next car negotiation (do not roll them in though). Better yet, go for 7500 if usage permits. Residual has a big impact on monthly payments.
Residual is non-negotiable and S-Classes have always been terrible.
If I were you I would wait it out. ADM on a S-Class should be a no-go unless you are desperate and non-subsidized MF rates will go away sooner rather than later. Definitely in a 7 months time frame... Also strongly discourage anyone from considering a 48months lease. They make no financial sense; you pay $108k into a $130k car you don't own.
If leasing you might also want to consider a lower mileage. Go with 10k miles, pick up the extra point on residual and then pay for miles at lease end if needed. Better yet, make the miles part of the next car negotiation (do not roll them in though). Better yet, go for 7500 if usage permits. Residual has a big impact on monthly payments.
Residual is non-negotiable and S-Classes have always been terrible.
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Mercedes s580
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Mercedes S550
Did you try other dealerships in your state? What’s your price to buy your E at lease end? It may be a steal in today’s market. You could buy it and resell it for a profit, or keep it another year.
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Mercedes s580
I’ve cast a fairy wide net looking. Not a lot out there in my area.
I don’t think I can extend my lease without another car on order. E43 can be bought for 50 at end of lease.
In normal times, how much below MSRP could I get to for the s-class?
I don’t think I can extend my lease without another car on order. E43 can be bought for 50 at end of lease.
In normal times, how much below MSRP could I get to for the s-class?
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1991 964 Turbo, 2002 Black E55, 2002 Black E55 " The Beast"- 2014 E63s
I'm currently in a E43 with my current lease ending in May 2022. I do not want to buy out this car at the end of lease. Options are very limited right now, but I'm considering a 2021 S580. Car is being offered for 124k MSRP with 7K dealer COVID markup (down from 10k they were originally requesting). Inventory very limited and they will not budge further on purchase price. I'd rather not finance because I have no plans to keep this car for longer than 3-4 years.
I'm being offered the following lease options from the dealer:
36/12k for $2550. $60K residual
48/12k for $2100. $52K residual
I realize that these lease options aren't great, but how crazy would I be to take them?
I'm being offered the following lease options from the dealer:
36/12k for $2550. $60K residual
48/12k for $2100. $52K residual
I realize that these lease options aren't great, but how crazy would I be to take them?
Lease:
48 monthly payments at $2100- ----------$100,800/48 months---------$2100 / month
You didn't pay anything and you walked away from it at the end of the 48 months
Can you deduct all the lease amount?
Finance:
$130,000 MSRP:
Down payment $10,000
Amount financed : $120,000
Penfed: 1.99 - 48 months - $2603/month
Interest $4939
Tax/Title $6500 (5%)
Total cost: Upfront: $16000 ( Down payment + T&T)
Total cost of the car at the end of 48 months: $141.500 ( $ MSRP + Interest + T&T)
If sold privately at 48 months: Would you say $60,000
Total out of pocket at 48 months: $81.500
Lease:
Pros: Lower monthly-------No down payment-------No hassle with loan application---Payment $500 / month lower
Cons: $20,000 extra ----
Finance:
Pros: savings of $20,000 / 48 Months -----$5000/year------$416/month extra-
Cons: A trip to DMV-wait time--payment $500 more per month---$16,000 down payment---Hassle of either selling privately ( you got time) or losing bit more trading in.
So what do you think...
Hope that helps.
Last edited by C2 Turbo; Dec 21, 2021 at 06:35 PM.
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From: Long Island, NY
2019 E 450, 2016 E350 4matic (retired), 2018 Ford Edge Sport, 2008 Porsche Boxster
Here is what the dealer is doing: Not only is he marking up the car, he is marking up the MF.
FYI: Here is what I was quoted on a 2022 E450 lease 3 years 10K miles per year: MF is .0018 (4.32%) and residual is 58%.
I am presently leasing a 2019 E450, 36 months, 10K miles per year. Monthly payment including lease acquisition fee and NY State sales tax is $896. I am being quoted $1250 a month for an identical 2022 with a MSRP $600 less than the MSRP on my 2019.
Here is what I have decided to do.
My lease ends on December 30. I have extended the lease until the end of February. The interest, not the MF, is .0025%. Each month, $895.87 of the $896 goes to reducing the residual. In February I will place an order for a 2022 E450. It will take 5 - 7 months for delivery. Until the arrival of the 2022 MBFS will continue to extend my lease. Between January and August when the 2022 arrives, I will have reduced the residual by $7,168. (7 payments of $896) This will give me substantial equity in my car - about $7,000 to $10,000. Depending on what the dealer is willing to lease me the 2022 E450, putting my equity into the lease, I will then either lease the 2022 or just buy my car. My car has only 22,000 miles and warranty does not end until December, 2022.
As everyone has posted, this is not the time to either buy or lease a new car. When equilibrium between supply and demand returns, cars will be once again be selling at MSRP with a discount.
Last edited by JTK44; Dec 21, 2021 at 07:21 PM.
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2024 S580
Exactly
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s550, gl450
It is not only the monthly payment to consider but the ability to write off - best to ask accountant and availability of said car now vs future - unknown.
Lease you get to walk. away - my last lease left me with over 10k in value that you can roll into new lease or get a check. The gamble with ownership is an accident, which could wipe out considerable equity in a purchase when trying to trade or sell a car with a bad car fax etc. And selling a car at the end of its warranty life will also affect value.
Just my two cents
Lease you get to walk. away - my last lease left me with over 10k in value that you can roll into new lease or get a check. The gamble with ownership is an accident, which could wipe out considerable equity in a purchase when trying to trade or sell a car with a bad car fax etc. And selling a car at the end of its warranty life will also affect value.
Just my two cents
