End of Car Lease - Mercedes-Benz Forum

 
LinkBack Thread Tools Display Modes
post #1 of 7 (permalink) Old 01-13-2010, 01:13 PM Thread Starter
BenzWorld Newbie
 
Date registered: Jan 2010
Posts: 4
Mentioned: 0 Post(s)
Quoted: 0 Post(s)
(Thread Starter)
End of Car Lease

Any have information on end of lease?

Last edited by ethertrader; 01-13-2010 at 01:25 PM.
ethertrader is offline  
Sponsored Links
Advertisement
 
post #2 of 7 (permalink) Old 01-13-2010, 05:02 PM
BenzWorld Elite
 
Date registered: Aug 2008
Vehicle: 2008 E320 Bluetec, 1988 560SL totalled unto death). 1997 Dodge Ram 1500, 1983 300CD
Location: Greater Metropolitan Beaverdam, Virginia
Posts: 1,245
Mentioned: 3 Post(s)
Quoted: 159 Post(s)
Garage
lease end game

It's been a while but unless things have changed you are offered three choices.

1. Say thank you very much and walk away. Your deposit should be returned after a satisfactory inspection by the Leasor. Inspection consists of pre-agreed mileage and condition consistent of "normal wear and tear". Watch this one.

2. Lease a new car using your old lease as buy-in. Inspection as above applies and you can negotiate residual value, probably unsuccessfully.

3. Buy your car for the pre-agreed residual value. If you have bonded with the car and are not sweaty palmed about driving a brand new car every couple of years this may be the best deal. I did this with a Saab turbo and drove it for 8 years without being sorry.
rocky raccoon is offline  
post #3 of 7 (permalink) Old 01-14-2010, 06:54 AM Thread Starter
BenzWorld Newbie
 
Date registered: Jan 2010
Posts: 4
Mentioned: 0 Post(s)
Quoted: 0 Post(s)
(Thread Starter)
thank you. I am leaning to option 3 because I under used the car and love it very much.
ethertrader is offline  
post #4 of 7 (permalink) Old 01-14-2010, 09:28 AM
BenzWorld Elite
 
Kajtek1's Avatar
 
Date registered: Dec 2005
Vehicle: W211 E320 Bluetec R129 SL500 - $1300 car ........ Ford F350 6l
Location: CA Bay Area
Posts: 31,754
Mentioned: 9 Post(s)
Quoted: 1120 Post(s)
In last years the values of used cars dropped drastically, meaning the estimated residual value was way above the market value.
I heard about members offering the dealer much lower price for buy and they succeeded
Kajtek1 is offline  
post #5 of 7 (permalink) Old 01-14-2010, 09:34 AM Thread Starter
BenzWorld Newbie
 
Date registered: Jan 2010
Posts: 4
Mentioned: 0 Post(s)
Quoted: 0 Post(s)
(Thread Starter)
end of car lease

I have been trying to work with the dealership & MBF. It seems they are not willing to budge on the price. Being that times are a little tight and I am asking my wife and kids to save and spend less, I might have to give up my car now.

If they can not give it to me near the Kelly Blue Book Value.

Does anyone know what value to use when using Kelly or NADA when seeking a residual value? There are 3 or 4 numbers.


Thank you all for your help as I make this very tough decision. As you can tell I feel attached to my car.
ethertrader is offline  
post #6 of 7 (permalink) Old 01-14-2010, 10:46 AM
BenzWorld Elite
 
Kajtek1's Avatar
 
Date registered: Dec 2005
Vehicle: W211 E320 Bluetec R129 SL500 - $1300 car ........ Ford F350 6l
Location: CA Bay Area
Posts: 31,754
Mentioned: 9 Post(s)
Quoted: 1120 Post(s)
I never dealt with lease, but kbb is way overestimated in last year comparing to market value.
I observe RE values on Zillow if you are familiar with it and the house zestimated at $529k just sold for $350k.
That is just small sample how unsettle times we are having.
First advice in negotiation is not to be emotional. If you show the love for the car you will pay. Find what the cars sell for and make even lower offer. The dealer will not only have to inspect the car but he will get way less if he puts it for auction.
If they don't agree on your price -walk away. You have very good chance they will call you just few hours later.
Kajtek1 is offline  
post #7 of 7 (permalink) Old 01-14-2010, 05:43 PM
~BANNED~
 
Date registered: Sep 2007
Vehicle: 99 Merc S420 (80k Mi) 07 Lexus LS460 (21k Miles)
Location: FL
Posts: 4,583
Mentioned: 0 Post(s)
Quoted: 0 Post(s)
Make it clear that you are only interested in buying your car and not leasing or buying another one. You will walk away and go into another dealer and get another car if you can't get your car. Normally, MB/dealer will start talking on price at that point. They know the residuals are way over the true market value. If they won't talk, then walk. You can try and fallow your car after the turn in. If its got low mileage and is good shape, the dealer may end up buying it. It will turn up on their lot within a few days and you can walk in and buy it for less then your residual value. If it beat up and has lots of miles, then it will go to auction. I would let it go at that point.
mr.xpowerseller is offline  
Sponsored Links
Advertisement
 
Reply

  Mercedes-Benz Forum > General Mercedes-Benz Forums > General Mercedes-Benz

Quick Reply
Message:
Options

Register Now



In order to be able to post messages on the Mercedes-Benz Forum forums, you must first register.
Please enter your desired user name, your email address and other required details in the form below.

User Name:
Password
Please enter a password for your user account. Note that passwords are case-sensitive.

Password:


Confirm Password:
Email Address
Please enter a valid email address for yourself.

Email Address:
OR

Log-in











  • Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
     
    Thread Tools
    Show Printable Version Show Printable Version
    Email this Page Email this Page
    Display Modes
    Linear Mode Linear Mode



    Similar Threads
    Topic Author Forum Replies Last Post
    Lease End Discount everettpa1 W211 E-Class 10 10-03-2008 12:04 PM
    question about end of lease buyout fwellers General Mercedes-Benz 8 10-17-2006 05:48 PM
    End of lease purchase sam_ml500 W163 M-Class 7 10-10-2005 09:16 AM
    end of lease negotiations rtpuelicher R170 SLK-Class 2 11-17-2004 04:18 PM
    Lease end inspection tomorrow panzerfaust W163 M-Class 1 03-21-2003 05:38 AM

    Posting Rules  
    You may post new threads
    You may post replies
    You may not post attachments
    You may not edit your posts

    BB code is On
    Smilies are On
    [IMG] code is On
    HTML code is Off
    Trackbacks are On
    Pingbacks are On
    Refbacks are On

     

    Title goes here

    close
    video goes here
    description goes here. Read Full Story
    For the best viewing experience please update your browser to Google Chrome