pot_head

Hi. Im a current owner of a black SC430 with 17000km's. It has 20" Lowenhart wheels and is lowered and imo looks very very nice.

My friend came across a very good deal at the local Mercedes dealership the other day. The car wasnt there, but the salesman told him theres a 03 SL500 up for grabs. It has 1500km and has a few options but i forgot what options it has. No AMG sport package and no see thru roof for sure. The price is 125k canadian+17%tax(which is MSRP here). Im thinking of trading my SC430 for it, without the wheels and suspension of course.

I am currently leasing my SC430. I put 57k down and paid 750/month for 5 months which works out to about 60k. Im thinking of trading the SC430 at Mercedes. Does anyone have any idea how much i would loose out? How would this work? Would it be something like, Mercedes would give me 50k or 45k back for my SC430 and put it towards the downpayment or would i loose out even more than that? The salesman told my friend 30k down and 1700$/month.

I would be really happy if i owned a SL500 at MSRP, but if i were to loose out too much then i would rather keep the Lexus. I have a bodykit on order and some other things for the Lexus. I have to admit, the ML system in the Lexus is so awesome and if i do trade it in, that would be the thing i would miss the most.

Any thoughts about my leasing problem? Thanks.

W210

The SL500 is a very desirable car and it's a bargain if you can find one now at MSRP. Unfortunately I'm not a leasing expert.

Kar don

wow that makes no sense, you are leasing the car and put 57K down!!!! Thats insane! Are you sure you don't mean that u financed the car, because with leasing u only own the car for a certain period of time (ie 36 months). A local paper advertises a 48 month lease for the SC430 with about 3k down for 699 a month. So I have no idea what your current financial situation is with that car

karl k

pot_head:

Do us all a favor:

1. Check with your lessor, whether your lease agreement permits you to trade the Lexus for an MB.

2. If ok with your lessor, check with MB what the difference would be.

3. Then provide details and ask on this forum: IS THIS A GOOD OR BAD DEAL?

Otherwise, as AlBoston states, this is an exercise in INSANITY.

pot_head

i traded in my clk430. plus i leased it from a somewhat 'shady' dealership so credit checks were still mandatory, but with a minimal amount of income and a large downpayment, one was able to lease almost any vehicle with no problem. Residual value in 3 years was like 28000$. This dealership can write down the residual value at any amount so i can pay any amount/month i want. they can even write the residual value at 1$ if they wanted. Anyway, i just wanted to know what happens to my downpayment if i were to trade it for a more expensive car at a different dealership. thanks.

btw this is all in canadian funds so minus 33% to get USD.

karl k

Tnx for following my advice.

I think that the price of rice in China fluctuates.

W210

If you can afford it, it may be a better idea to buy the car outright next time; it will give you the freedom to swap to a different car whenever you want and can avoid the credit check hurdles and downpayment issues.

What you are doing does not make any financial sense to me at all, unless you are pushing your financial limit to the max, and you have very bad credit and little income, and would like to lease something you could otherwise not afford. Please enlighten me if otherwise.

I don't have the "luxury" of smoking pot 24 hours a day like yourself and don't claim to be as wealthy but I like to buy my cars with cash. Most of the cars I buy hold their value pretty well and I only lose a maximum of couple of thousand of dollars on each car every year; in some cases (such as in 2000 and 2001), I even made some pocket money after driving some hard to get cars such as the E55, M5, 360, 996TT, M3, etc. With the same strategy, I anticipate my cost of ownership of the SL500 to be relatively low, I'll probablly sell it for the SL55 or W211 E55 in less than a year.

Each to their own I suppose but the leasing, downpayment, lease termination BS is just not a for me. The only exception to the rule is that I like to lease cars for my wife. She periodically gets into accidents, and having a walk-away lease saves me from taking the hit in the decrease in resale value of her cars with all the damages and repairs.

karl k

W210

Excellent points. The wife's history is troubling though. Huge potential liability. Best of luck to you.

ibanez

Karl/W210-this guy has no common sense. He should probably just go out and pay cash for a Toyota Matrix as his grasp of his leasing situation doesn't make sense in the real world (if you are going to put that much cash down on a car then buy it, but hey, that would only be the intelligent thing to do).

Ok, now, Bong head, yes, you are a really smart person and are an incredibly crafty and wise business person. Go ahead and put an obscene amount of money down on a lease (idiot). Don't follow anyone's advice on this board (why are you posting anyway) and do what you think is right (you remind me of someone I once knew that thought if he took acid and believed he was Jimi Hendrix, he could play guitar like Jimi Hendrix).

W210

Thank you Karl - I'm trying my best, in addition to the lease sructure in protecting my interest with the reduction in resale value, she drives really low profile proletariat cars for the proper image. Good thing she treats cars like another form of transportation and doesn't share our obsession.

karl k

I'm sure, there are many additional outstanding attributes that are mutually benefical. Maybe its her darn cellphone that must go...

pot_head

w210, thanks for your thoughts.

W210, your right. I dont have any credit and low income. Thats why i put down 57k on the Lex. Im not a whiz at leasing, but lets see if my reasons make any sense to you guys, if you guys even care.

When i first laid eyes on the Lex i was planning to keep it. Sure, buying it outright is always my first choice for i also hate leasing, but money was tight 6months ago, it was all invested and the Lex had a waiting list, but i was able to get my hands on one if i was quick.

102kCAD with taxes. I had 57k(trade in price of CLK). Of course i had more but theres no way im going to dig into my savings. Cars are toys, spend whatever extra u got right? Now what could a person do? Finance? I dont even have a bank account. Oh wait, i do with like a few hundred bucks in there.

Leasing was my other option. After calculating it out with my 'special' dealership which also does my financing for me, after 6months, which is next month when im going to buy out the car, i would've paid a total of 108,000 including monthly payments and any extras i might have to pay. So 102k-57k=45k(30kUSD).

I pay 6k(4kUSD) extra in 6 months.

One way to look at this is a lease, well it is, and a bad one.
Another way to look at this is i borrowed 30k USD for 6 months and paid 4k in intrest with NO CREDIT AND NOTHING IN MY BANK ACCOUNT AND LOW INCOME(if any). To me, thats not bad, but too bad i can only do this for vehicles.

Sure, when i traded in the clk, a normal person wouldve put down as little as possible and got some money back. But since i knew that i was going to keep this car from the beginning and i was going to buy it out in 6 months, there is no point transfering money back and forth.

But if in the beginning, if i knew how the SL500 looked like, i wouldve gotten that instead.

I can go to a 'certain' Mercedes dealership with a couple friends, put down 20kUSD and lease the SL500 with my credit. My credit is...I can barely pass for a credit card. Since the salesman is trying to rip me off on the SC, i think i'll get both. I'll see you guys in a couple weeks with a pic of both cars, that is if the SL is still up for grabs. A SL500 at retail and no wait? deals not going to last for long....

How many of the ppl on this board acutally have the SL500 and not 'on the waiting list'. My 16 yr old brother who just got his license can also go on the waiting list with a couple grand...

And how many of u are under 25?

ibanez

You don't have a bank account and have a very low income, yet all of your money is "invested". Invested in what, crack?

No, we don't care and No, you shouldn't be driving an SL. You remind me of the idiot that bought my 99 CLK430. He was 31, had four kids and was dumping every cent into the 430 and aftermarket wheels. How about food for your kids? How about school supplies for your kids? If you can't afford it, don't drive it.

You borrowed $30k for 6 months and paid $4k in interest. That is a 26.67 interest rate. Do you realize how stupid it is to pay that high an interest rate? That is higher than credit cards (oops, I forgot, you can't get one). Get a clue and a life and spend your money wisely and don't bother us with your Jerry Springer lifestyle. Lets save this board for people with at least half a brain (dope head obviously doesn't qualify).

pot_head

wow ibanez do u have a d1ck stuck up your *** or something? temper temper, but i like pissing u off cuz u amuse me, and theres more to come. you can be there to amuse me. when im bored i'll just private msg you or something and say ,"sl500 is overpriced" and you'll be popping a vien.



and no i dont think paying 25% intrest is too high. i can afford to pay intrest like that. cant you? oh i forgot, you dont have a sl. you only have a clk. me? i'll just get my sl in the next week or 2. i cant afford it? ummmm.....ok......there......

in fact, im gonna take pictures of both cars and post it up right here in this forum. ya i know, alot of ppl will say the sc is ugly bla bla bla, i know you will for sure. but i just want to see what else you'll have to say when i can afford a sl. will you be saying,"your stupid to pay such high intrest rates?" maybe you be saying,"damn, i wish i had that." or maybe "damn, i wish i could get this d1ck outta my ***."

oh and about my username, i think your getting old. your eyes are getting pretty bad and you need some glasses. my name is pot_head, not dope head or anything like that. try the ones with the big black frame cuz i think those will suit you pretty well. oh ya, now i know why you bought a clk. they have those big *** buttons for ppl like you who cant see properly. you know, those ones on the center console. mercedes made those buttons so big cuz its for blind folks like you.

if you dont care, then why are you replying? your defending something that you dont have, and especially when im not even saying anything bad about it. im saying the sound system sucks. ok sorry, it doesnt suck, just not as good as some other cars that are cheaper.(your mom sucks for cheap). i said the sl is a very sexy car. do u have a problem with that? how come i dont see you agreeing with me? and the only thing you do is rip my head off and diss me? did you see that i said the sl's interior could be better? so do you think the sl's interior is perfect and its impossible to make the sl's interior better?

you said i remind you of someone you once knew who played the guitar.obviously hes not around cuz you said you 'once knew him'. you also said i remind you of the idiot who bought your clk. i can bet you have no friends with an attitude like yours. am i correct? i feel sorry for you man. friends are one of the best things a person can have. better than a sl500. i think if you took that d1ck out of your *** you wouldnt be blowing up and getting migrain headaches over such little things like, "i think the sl500 is overpriced."

Benzo

I have never laughed so hard in my life. I have tears rolling down my face. As a matter of fact I have 3 people in my office reading this post. I am not touching this w/ a ten foot pole. Ugghhhh, I can't resisit. pot_head, ARE YOU KIDDING ME?

ibanez

I know its hilarious. Its like watching a bad episode of Jerry Springer. Wait, let me try now...

Ya' know' be'atch, if I want to be fronting with a drop ride that be slick and all, it don't be mattering if I be gotting to spend all my coin on 'da ride as long as it be fresh yo. Check it, I be the man and you be nuttin' but she'at. Bring yo *** over here and I be bi'itch slapping you wit' my tool cuz I be da man they call Crack Head and I be owning da freshest Lexi around.

karl k

...quiet, he is in session with Ms. Chleo...

ibanez

I refute, I mean refuse to be answering any more verbages directed towards da lexi as it may incriminate me (oh no, I see dead people now, Quick, hide da Lexi keys).

pot_head

LOL LOL

Hey not bad for a poor *** cracker like yourself........
Spend all my coin? No, now its you thats jealous. Jealous you dont have the hookups like me to get the SL without a long *** wait? Thats ok. After you learn how to make some friends maybe someone will like you and hook you up. I bet your closest friends are the ones on this msg board lol and imo thats lame *** she'at, like how you like to say it.

ibanez

Hey ice head-have you ever thought about therapy, it might help with some of those inferiority issues you seem to have.