Lease Payoff Question
07-01-2011, 08:05 PM
#1
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Lease Payoff Question
I have a 2010 E63 that I leased last year. I was thinking of selling it, and called Mercedes Financial to ask for a payoff. The number they gave me included all sales taxes. I was under the impression if I sold it to a dealer, the payoff would be less the tax.
The person on the phone said he couldn't give that information, I would have to speak with my dealer. Of course, they aren't quick to call me back.
I did this a few years ago with a Porsche and my payoff was 7% higher than the dealer's. So I sold it through the dealer. If i could do this again, I would sell it for the payoff which is just a bit higher than Manhiem's wholesale average. Someone would get a great deal.
Anyone know?
The person on the phone said he couldn't give that information, I would have to speak with my dealer. Of course, they aren't quick to call me back.
I did this a few years ago with a Porsche and my payoff was 7% higher than the dealer's. So I sold it through the dealer. If i could do this again, I would sell it for the payoff which is just a bit higher than Manhiem's wholesale average. Someone would get a great deal.
Anyone know?
07-02-2011, 12:17 PM
#2
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2020 Audi R8 V10, 2016 AMG GTS, 2018 E63S Edition 1, 2018 Porsche GTS Cab, 2012 C63 BS
I have a 2010 E63 that I leased last year. I was thinking of selling it, and called Mercedes Financial to ask for a payoff. The number they gave me included all sales taxes. I was under the impression if I sold it to a dealer, the payoff would be less the tax.
The person on the phone said he couldn't give that information, I would have to speak with my dealer. Of course, they aren't quick to call me back.
I did this a few years ago with a Porsche and my payoff was 7% higher than the dealer's. So I sold it through the dealer. If i could do this again, I would sell it for the payoff which is just a bit higher than Manhiem's wholesale average. Someone would get a great deal.
Anyone know?
The person on the phone said he couldn't give that information, I would have to speak with my dealer. Of course, they aren't quick to call me back.
I did this a few years ago with a Porsche and my payoff was 7% higher than the dealer's. So I sold it through the dealer. If i could do this again, I would sell it for the payoff which is just a bit higher than Manhiem's wholesale average. Someone would get a great deal.
Anyone know?
When you personally call MBCC for payoff they will, as you said, roll taxes in. But if you were trading it in, the dealer would get a quote without taxes since they have the resale license.
I dont think MBCC is adjusting payoff quotes for Manheim values during your term.
08-14-2011, 12:30 AM
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You don't have to pay the sales tax (assuming you live in CA), if you sell your vehicle within 10 days after you pay it off (that's when MB transfers the title to you). You can tell MB that you are selling the vehicle right after you pay it off. Check the rules on the 'Board of Equalization' site (State of California). Include the EOB regulation in your payoff documentation so that you don't have to include the sales tax. Of course, you have to arrange a buyer in advance. I did it last year and it worked.
