Buying out the lease
10-13-2009, 01:03 PM
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1989 Toyota Tercel Coupé
Buying out the lease
My car is leased through mb financial. Does anyone know how well they would work with me to buy the car out? I don't want to pay the residual as I see manhiems and ebays going for much less
10-13-2009, 03:39 PM
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'15 E63S wagon
In my experience MBZ will move a little to get the car gone, but they won't hesitate to send it to auction either. You're seeing those Manheim prices for a reason...other dealers aren't negotiating enough off residual to sell them before sending to auction.
You have nothing to lose & are in a great position to negotiate. Don't pay residual; if MBZ takes it back and wont' move on the price, track it and you can likely buy it back off auction for the price you wanted in the first place.
You have nothing to lose & are in a great position to negotiate. Don't pay residual; if MBZ takes it back and wont' move on the price, track it and you can likely buy it back off auction for the price you wanted in the first place.
10-13-2009, 06:09 PM
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1989 Toyota Tercel Coupé
In my experience MBZ will move a little to get the car gone, but they won't hesitate to send it to auction either. You're seeing those Manheim prices for a reason...other dealers aren't negotiating enough off residual to sell them before sending to auction.
You have nothing to lose & are in a great position to negotiate. Don't pay residual; if MBZ takes it back and wont' move on the price, track it and you can likely buy it back off auction for the price you wanted in the first place.
You have nothing to lose & are in a great position to negotiate. Don't pay residual; if MBZ takes it back and wont' move on the price, track it and you can likely buy it back off auction for the price you wanted in the first place.
10-13-2009, 09:04 PM
#5
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tried doing this last month and MB financial wont budge as far as waiving the interest to flip to a finance .
Last edited by DAGREEKNYC; 10-13-2009 at 09:05 PM. Reason: 1
10-13-2009, 11:31 PM
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2015 S212
I have become email tag friends with the head of all remarketing (Chris Browne I think). As a previous poster mentioned, they will work with you some, but nothing like a dealer. They are not in the business of selling cars but rather keepng MB loyalists.
Also, the plummet on the cars has leveled some so i do not know if they are still as anxious to get rid of inventory as they were a few months back.
Yes, you can buy it at auction cheaper, if you have access. Also, I am a stickler for an MB warranty.
As again previously posted, there is no way they will eat a current contract (lease) to flip you into a desirable (for you) new loan. They will do it if you pay big. If you honestly want to maximize returns, then go through a dealership. They have their own incentives that they can add on top of MB Finance offers and can get you the best deal. There was a time when a dealership would "buy" your car and sell it to you.
Also, the plummet on the cars has leveled some so i do not know if they are still as anxious to get rid of inventory as they were a few months back.
Yes, you can buy it at auction cheaper, if you have access. Also, I am a stickler for an MB warranty.
As again previously posted, there is no way they will eat a current contract (lease) to flip you into a desirable (for you) new loan. They will do it if you pay big. If you honestly want to maximize returns, then go through a dealership. They have their own incentives that they can add on top of MB Finance offers and can get you the best deal. There was a time when a dealership would "buy" your car and sell it to you.
10-14-2009, 10:04 PM
#7
MBWorld Fanatic!
I have become email tag friends with the head of all remarketing (Chris Browne I think). As a previous poster mentioned, they will work with you some, but nothing like a dealer. They are not in the business of selling cars but rather keepng MB loyalists.
Also, the plummet on the cars has leveled some so i do not know if they are still as anxious to get rid of inventory as they were a few months back.
Yes, you can buy it at auction cheaper, if you have access. Also, I am a stickler for an MB warranty.
As again previously posted, there is no way they will eat a current contract (lease) to flip you into a desirable (for you) new loan. They will do it if you pay big. If you honestly want to maximize returns, then go through a dealership. They have their own incentives that they can add on top of MB Finance offers and can get you the best deal. There was a time when a dealership would "buy" your car and sell it to you.
Also, the plummet on the cars has leveled some so i do not know if they are still as anxious to get rid of inventory as they were a few months back.
Yes, you can buy it at auction cheaper, if you have access. Also, I am a stickler for an MB warranty.
As again previously posted, there is no way they will eat a current contract (lease) to flip you into a desirable (for you) new loan. They will do it if you pay big. If you honestly want to maximize returns, then go through a dealership. They have their own incentives that they can add on top of MB Finance offers and can get you the best deal. There was a time when a dealership would "buy" your car and sell it to you.
Forgetting all that, go buy a brand new 2009 for $30 grand off sticker, that's what I did. Warning you will need to negotiate with three or four stealers to get that price. Also, heard that the 15,000 rebate was shaved to $10,000. Good luck.
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10-14-2009, 10:12 PM
#8
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I agree, wait about two months before your lease ends and MB Financial will lower the residual by about $10,000. Keep your car until the very last day of the lease and take it to the dealer to turn it in. The dealer will CPO the car for you and also buy the car from MB Financial for a further discount. You will then get back in your car with a fresh warranty and a decent price. Going the auction route will save a few thousand but then you get the wear and tear that is surely to happen and no warranty.
Forgetting all that, go buy a brand new 2009 for $30 grand off sticker, that's what I did. Warning you will need to negotiate with three or four stealers to get that price. Also, heard that the 15,000 rebate was shaved to $10,000. Good luck.
Forgetting all that, go buy a brand new 2009 for $30 grand off sticker, that's what I did. Warning you will need to negotiate with three or four stealers to get that price. Also, heard that the 15,000 rebate was shaved to $10,000. Good luck.
10-15-2009, 06:34 AM
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1989 Toyota Tercel Coupé
I agree, wait about two months before your lease ends and MB Financial will lower the residual by about $10,000. Keep your car until the very last day of the lease and take it to the dealer to turn it in. The dealer will CPO the car for you and also buy the car from MB Financial for a further discount. You will then get back in your car with a fresh warranty and a decent price. Going the auction route will save a few thousand but then you get the wear and tear that is surely to happen and no warranty.
Forgetting all that, go buy a brand new 2009 for $30 grand off sticker, that's what I did. Warning you will need to negotiate with three or four stealers to get that price. Also, heard that the 15,000 rebate was shaved to $10,000. Good luck.
Forgetting all that, go buy a brand new 2009 for $30 grand off sticker, that's what I did. Warning you will need to negotiate with three or four stealers to get that price. Also, heard that the 15,000 rebate was shaved to $10,000. Good luck.
