What to do with the E55?
03-18-2009, 03:36 PM
#26
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2015 S212
MB did not provide any strong incentives for me. My buyout was $57K and they proposed $54K. Here is the gig, MB takes out insurance policies through 3rd party companies to close the gap on losses. With that said, when the car sells at auction for well under the residual MB gets to file a "claim" with the underwriting company for the "loss". In my case, my guess was that MB had $3K "exposure" on my car; hence the $3K "incentive".
So, they have no motivation to sell you the car at a discounted price.
I think someone mentioned they could find the car for you at auction. Go after it (and for way, way, way less than your residual or "offer" from MB).
I hope this makes sense. Let us know if MB "plays".
TK
So, they have no motivation to sell you the car at a discounted price.
I think someone mentioned they could find the car for you at auction. Go after it (and for way, way, way less than your residual or "offer" from MB).
I hope this makes sense. Let us know if MB "plays".
TK
03-18-2009, 03:46 PM
#28
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Join Date: Nov 2006
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E63 P30, CL500 Sport
MB did not provide any strong incentives for me. My buyout was $57K and they proposed $54K. Here is the gig, MB takes out insurance policies through 3rd party companies to close the gap on losses. With that said, when the car sells at auction for well under the residual MB gets to file a "claim" with the underwriting company for the "loss". In my case, my guess was that MB had $3K "exposure" on my car; hence the $3K "incentive".
So, they have no motivation to sell you the car at a discounted price.
I think someone mentioned they could find the car for you at auction. Go after it (and for way, way, way less than your residual or "offer" from MB).
I hope this makes sense. Let us know if MB "plays".
TK
So, they have no motivation to sell you the car at a discounted price.
I think someone mentioned they could find the car for you at auction. Go after it (and for way, way, way less than your residual or "offer" from MB).
I hope this makes sense. Let us know if MB "plays".
TK
Do they do that with all their leased cars? I would assume they have a deductible on each claim + the cost for the insurance. So technically, selling their car in the auction at auction price is still a loss unless they can add the insurance cost. Either way, seems like a great deal for the buyer.
03-18-2009, 04:09 PM
#29
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i hope you are able to keep your 55 or at least get into another one since u have had all that work already done to it! it would be a shame to see it go.
but if u ever do part out, ill probably buy some of those parts!
but if u ever do part out, ill probably buy some of those parts!
03-18-2009, 04:32 PM
#30
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I guess worst case I buy a used one and hope for the best...
03-18-2009, 04:49 PM
#31
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Jangy, I will tell you the same thing I told Juicee a week ago, although under vastly different circumstances, you are holding all the cards in this negotiation with MB Financing, MB is floodded with lease turn-ins and repos right now, the last they want is another car they have to auction off.
Here are a few things you need to consider however. You must take into account the cost to remove all of your mods (and possibly re-installing them) should you turn in the car. How are you on mileage, stock tires, other damages, they have become royal pains in the azzes over the past 6 months on turn in inspections, they are taking a bath on residuals and they are trying to make it up on hitting people hard on turn in inspection damage, you are at the mercy of the person inspecting the car and I here they are getting paid bonuses or commisions on what they can hit people with.
I say try to negotiate a better price with MB and hold on to your car, you know it's history and it is already modded the way you want it. It's going to cost you $20K-$30k (min) to mod an E63 the way you will want it.
Worst case you turn it in and turn around and go right back out and buy a CPO 55 for probably less than your current buy price and you get a warranty and your aftermarket stuff should bolt right back up.
Here are a few things you need to consider however. You must take into account the cost to remove all of your mods (and possibly re-installing them) should you turn in the car. How are you on mileage, stock tires, other damages, they have become royal pains in the azzes over the past 6 months on turn in inspections, they are taking a bath on residuals and they are trying to make it up on hitting people hard on turn in inspection damage, you are at the mercy of the person inspecting the car and I here they are getting paid bonuses or commisions on what they can hit people with.
I say try to negotiate a better price with MB and hold on to your car, you know it's history and it is already modded the way you want it. It's going to cost you $20K-$30k (min) to mod an E63 the way you will want it.
Worst case you turn it in and turn around and go right back out and buy a CPO 55 for probably less than your current buy price and you get a warranty and your aftermarket stuff should bolt right back up.
03-18-2009, 07:06 PM
#32
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2015 S212
Most of my mods are bolt ons so I don't see much cost in removing and reinstalling, if need be. Also, I am friendly with the local inspector and I have all of my OEM parts (mostly).
Actually, right now I am leaning towards trying to buy mine. It has a 100k warranty as is. If MB gets rough, I can just trade it in before the turn in date and get a CPO? I just never liked used eventhough any used one has likely been bashed less than mine. We've been through lots together, my beast and I. I'm the loyal type so I wanna keep it but no huge deal if it doesn't happen.
Actually, right now I am leaning towards trying to buy mine. It has a 100k warranty as is. If MB gets rough, I can just trade it in before the turn in date and get a CPO? I just never liked used eventhough any used one has likely been bashed less than mine. We've been through lots together, my beast and I. I'm the loyal type so I wanna keep it but no huge deal if it doesn't happen.
