What to do with the E55?
Thread Starter
Out Of Control!!
Joined: Sep 2004
Posts: 13,394
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From: San Diego
2015 S212
What to do with the E55?
Well my lease is coming up in a few months and I'm not quite sure what to do. I'm pretty open to most things, but want to stay with the MB brand.
I've been banging MB finance and even had my finance department at my dealer bother them to get the residual dropped. It looks like I will be able to negotiate, especially since I have a CLK350 coming off at the same time and may buy both out.
Assuming MB doesn't play, what do I do? Get another 55k? I would go for an E63, ML63, or G500. Of those, the G500 is the one that i have no problem putting money into since i would keep it forever.
I had also thought about taking over my wife's C350 and getting her another SUV now that gas prices are lower and she complains about the room. Before, she wanted smaller
. The C350 is cheap and could get me by until I find a car that I really love and can afford.
Help me fellas, what to do? Budget is around $1K/month. Funny thing is that I will want one exactly like I have if I do get another E55.
I've been banging MB finance and even had my finance department at my dealer bother them to get the residual dropped. It looks like I will be able to negotiate, especially since I have a CLK350 coming off at the same time and may buy both out.
Assuming MB doesn't play, what do I do? Get another 55k? I would go for an E63, ML63, or G500. Of those, the G500 is the one that i have no problem putting money into since i would keep it forever.
I had also thought about taking over my wife's C350 and getting her another SUV now that gas prices are lower and she complains about the room. Before, she wanted smaller
. The C350 is cheap and could get me by until I find a car that I really love and can afford.Help me fellas, what to do? Budget is around $1K/month. Funny thing is that I will want one exactly like I have if I do get another E55.
Thread Starter
Out Of Control!!
Joined: Sep 2004
Posts: 13,394
Likes: 6
From: San Diego
2015 S212
Initially, they said no. I took the car into the dealer and asked how much i could get if I traded it in before the turn in date. They looked into it and found a few incentives (MB loyalty, etc.) and are willing to deal. Then, I asked them about selling it to me. They had their finance manager call MB credit and negotiate, saying I am a good customer, wanting to stay MB, reminding them of auction prices, etc. Also, as time winds down, I notice more interest in talking.
For now, MB says that I do not have an opportunity to buy at auctions so they have no need to compete with that price. They are willing to sell it to me at bluebook and we are now negotiating over terms. Honestly, I may would pay $30K just because i love this one, but that is about it.
For now, MB says that I do not have an opportunity to buy at auctions so they have no need to compete with that price. They are willing to sell it to me at bluebook and we are now negotiating over terms. Honestly, I may would pay $30K just because i love this one, but that is about it.
Member
Joined: Nov 2008
Posts: 132
Likes: 1
From: Columbus OH
A4, M3, 996, E55
Initially, they said no. I took the car into the dealer and asked how much i could get if I traded it in before the turn in date. They looked into it and found a few incentives (MB loyalty, etc.) and are willing to deal. Then, I asked them about selling it to me. They had their finance manager call MB credit and negotiate, saying I am a good customer, wanting to stay MB, reminding them of auction prices, etc. Also, as time winds down, I notice more interest in talking.
For now, MB says that I do not have an opportunity to buy at auctions so they have no need to compete with that price. They are willing to sell it to me at bluebook and we are now negotiating over terms. Honestly, I may would pay $30K just because i love this one, but that is about it.
For now, MB says that I do not have an opportunity to buy at auctions so they have no need to compete with that price. They are willing to sell it to me at bluebook and we are now negotiating over terms. Honestly, I may would pay $30K just because i love this one, but that is about it.
Andy
Thread Starter
Out Of Control!!
Joined: Sep 2004
Posts: 13,394
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From: San Diego
2015 S212
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From: Redondo Beach, CA
‘11 SLS, ‘19 GT63 s Edition One
I'm tossing around the idea of what to do with my car as well. Lease is up in June.
So they lower your residual to be blue book value? Wholesale or Retail blue book?
Any more insight on this. Should I go see my Finance guy at the dealership and ask him to make the call, or should I just call?
BTW... Happy New Year
So they lower your residual to be blue book value? Wholesale or Retail blue book?
Any more insight on this. Should I go see my Finance guy at the dealership and ask him to make the call, or should I just call?
BTW... Happy New Year
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Thread Starter
Out Of Control!!
Joined: Sep 2004
Posts: 13,394
Likes: 6
From: San Diego
2015 S212
Happy new year to you, too my brother.
They are currently asking retail BB, but I will continue to push.
I would have the finance department call if you have a good relation with the dealer. I sell quite a few AMGs for mine so they help me when they can. You can call yourself but the response is different.
They are currently asking retail BB, but I will continue to push.
I would have the finance department call if you have a good relation with the dealer. I sell quite a few AMGs for mine so they help me when they can. You can call yourself but the response is different.
MBWorld Fanatic!
Joined: Nov 2007
Posts: 1,517
Likes: 9
From: Daytona, Florida
SL600
Well my lease is coming up in a few months and I'm not quite sure what to do. I'm pretty open to most things, but want to stay with the MB brand.
I've been banging MB finance and even had my finance department at my dealer bother them to get the residual dropped. It looks like I will be able to negotiate, especially since I have a CLK350 coming off at the same time and may buy both out.
Assuming MB doesn't play, what do I do? Get another 55k? I would go for an E63, ML63, or G500. Of those, the G500 is the one that i have no problem putting money into since i would keep it forever.
I had also thought about taking over my wife's C350 and getting her another SUV now that gas prices are lower and she complains about the room. Before, she wanted smaller. The C350 is cheap and could get me by until I find a car that I really love and can afford.
Help me fellas, what to do? Budget is around $1K/month. Funny thing is that I will want one exactly like I have if I do get another E55.
I've been banging MB finance and even had my finance department at my dealer bother them to get the residual dropped. It looks like I will be able to negotiate, especially since I have a CLK350 coming off at the same time and may buy both out.
Assuming MB doesn't play, what do I do? Get another 55k? I would go for an E63, ML63, or G500. Of those, the G500 is the one that i have no problem putting money into since i would keep it forever.
I had also thought about taking over my wife's C350 and getting her another SUV now that gas prices are lower and she complains about the room. Before, she wanted smaller
. The C350 is cheap and could get me by until I find a car that I really love and can afford.Help me fellas, what to do? Budget is around $1K/month. Funny thing is that I will want one exactly like I have if I do get another E55.
That way you're back under factory warranty again, and your payment will be less than $1k/mo. 2006's are going for way <$40k now...
MBWorld Fanatic!
Joined: Nov 2006
Posts: 9,137
Likes: 4
From: California, USA
E63 P30, CL500 Sport
Initially, they said no. I took the car into the dealer and asked how much i could get if I traded it in before the turn in date. They looked into it and found a few incentives (MB loyalty, etc.) and are willing to deal. Then, I asked them about selling it to me. They had their finance manager call MB credit and negotiate, saying I am a good customer, wanting to stay MB, reminding them of auction prices, etc. Also, as time winds down, I notice more interest in talking.
For now, MB says that I do not have an opportunity to buy at auctions so they have no need to compete with that price. They are willing to sell it to me at bluebook and we are now negotiating over terms. Honestly, I may would pay $30K just because i love this one, but that is about it.
For now, MB says that I do not have an opportunity to buy at auctions so they have no need to compete with that price. They are willing to sell it to me at bluebook and we are now negotiating over terms. Honestly, I may would pay $30K just because i love this one, but that is about it.
When a leased car is turned back to the dealer, the dealer has the option of giving it back to MB Financial or buying it at current auction price. If you let the dealer purchase it, you should be able to then buy it back from the dealer (alienating MB Financial entirely from the deal). And even if they refuse to give it to the dealer at auction price, you can let them have it, and actually go buy it yourself from Manheim at less than auction price. Every Mercedes dealer gets a list of which cars (specifically Mercedes vehicles) are going to get auctioned at which auctions and when
It's a win-win scenario to you because both routes ultimately lead to what you want. In this current economy, the buyer has a significant advantage..... and those companies that don't adapt, end up taking significant hits
Last edited by MB_Forever; Mar 18, 2009 at 12:44 PM.
MBWorld Fanatic!
Joined: Dec 2007
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From: Denver, CO
Formula Mazda, Beast Junior...400HP 135i
The only logical choice after the E55 is the SL65. 
That aside, the G500 and G55 are great machines but they tend to grate on you as daily drivers as they drive like trucks.
That aside, the G500 and G55 are great machines but they tend to grate on you as daily drivers as they drive like trucks.
Thread Starter
Out Of Control!!
Joined: Sep 2004
Posts: 13,394
Likes: 6
From: San Diego
2015 S212
Hey, it has been washed 3 times and has 2 coats of wax on it from 2006.
It isn't like I'd have to sell it if they don't discount. Trust me, nobody else wants my car but me. MB is a fool to not sell me mine cheap. It would go through the auction line 8 times before anyone figured out it was even an E55
It isn't like I'd have to sell it if they don't discount. Trust me, nobody else wants my car but me. MB is a fool to not sell me mine cheap. It would go through the auction line 8 times before anyone figured out it was even an E55
Thread Starter
Out Of Control!!
Joined: Sep 2004
Posts: 13,394
Likes: 6
From: San Diego
2015 S212
Thread Starter
Out Of Control!!
Joined: Sep 2004
Posts: 13,394
Likes: 6
From: San Diego
2015 S212
Actually, there is another way to get around this (assuming you're well-connected with the dealer, which I assume you are)....
Yes I am, so i will go in and see.
When a lease car is turned back to the dealer, the dealer has the option of giving it back to MB Financial or buying it at current auction price. If you let the dealer purchase it, you should be able to then buy it back from the dealer (alienating MB Financial entirely from the deal). And even if they refuse to give it to the dealer at auction price, you can let them have it, and actually go buy it yourself from Manheim at less than auction price. Every Mercedes dealer gets a list of which cars (specifically Mercedes vehicles) are going to get auctioned at which auctions and when
It's a win-win scenario to you because both routes ultimately lead to what you want. In this current economy, the buyer has a significant advantage..... and those companies that don't adapt, end up taking significant hits
Yes I am, so i will go in and see.
When a lease car is turned back to the dealer, the dealer has the option of giving it back to MB Financial or buying it at current auction price. If you let the dealer purchase it, you should be able to then buy it back from the dealer (alienating MB Financial entirely from the deal). And even if they refuse to give it to the dealer at auction price, you can let them have it, and actually go buy it yourself from Manheim at less than auction price. Every Mercedes dealer gets a list of which cars (specifically Mercedes vehicles) are going to get auctioned at which auctions and when
It's a win-win scenario to you because both routes ultimately lead to what you want. In this current economy, the buyer has a significant advantage..... and those companies that don't adapt, end up taking significant hits
Thread Starter
Out Of Control!!
Joined: Sep 2004
Posts: 13,394
Likes: 6
From: San Diego
2015 S212
I love trucks. I have always had a car and a truck, just the truck was usually a Jeep. I have been patient to get a G500. The G55 isn't off road worthy for me and the G500 is easier to setup for off road...
MBWorld Fanatic!
Joined: Nov 2006
Posts: 9,137
Likes: 4
From: California, USA
E63 P30, CL500 Sport
I did not realize that the dealership where you turn in your car has the option to pick it up at auction price and re-sell. That would be perfect. The problem with letting it go to auction and getting it back is that I have no way to buy at auctions. I guess dealer cooperation is my best hope.
He can locate that car wherever it goes.....
Thread Starter
Out Of Control!!
Joined: Sep 2004
Posts: 13,394
Likes: 6
From: San Diego
2015 S212
Thread Starter
Out Of Control!!
Joined: Sep 2004
Posts: 13,394
Likes: 6
From: San Diego
2015 S212
Super Member
Joined: Jul 2006
Posts: 789
Likes: 36
2006 E55
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
MBWorld Fanatic!
Joined: Nov 2007
Posts: 1,517
Likes: 9
From: Daytona, Florida
SL600
If they played the "Screw off...we're going to go collect from the insurance company" thing with me, I'd find out what insurance company writes those policies, and then send them a letter saying
"Dear Sir or Madam,
I recently offered $XXXXX.XX to purchase my leased vehicle, VIN# 12345.... The car's KBB market value is $XXXXX.XX, so my offer reflected a fair price.
However, MBCC declined my offer and instead sold the car for $XXXXX.XX at auction, which is $XXXXX.XX LESS than what I would have paid, choosing instead to create a fraudulent loss in order to claim reimbursement from your company.
I have no iron in this fire, and just wanted to let you know about this situation, as I'm aware that Mercedes has a duty to mitigate losses under the contract, and that they have intentionally refused to do so.
Yours,
CWW"
I don't **** around with corporate B.S. That letter should get the ole' ball rolling at the insurance company's risk mitigation dept. Won't get you a good deal on your car, but it will cause all sorts of problems for MBCC.
"Dear Sir or Madam,
I recently offered $XXXXX.XX to purchase my leased vehicle, VIN# 12345.... The car's KBB market value is $XXXXX.XX, so my offer reflected a fair price.
However, MBCC declined my offer and instead sold the car for $XXXXX.XX at auction, which is $XXXXX.XX LESS than what I would have paid, choosing instead to create a fraudulent loss in order to claim reimbursement from your company.
I have no iron in this fire, and just wanted to let you know about this situation, as I'm aware that Mercedes has a duty to mitigate losses under the contract, and that they have intentionally refused to do so.
Yours,
CWW"
I don't **** around with corporate B.S. That letter should get the ole' ball rolling at the insurance company's risk mitigation dept. Won't get you a good deal on your car, but it will cause all sorts of problems for MBCC.
