Leasing 2014 S class.... Bad idea? - Mercedes-Benz Forum

 
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post #1 of 9 (permalink) Old 07-15-2013, 08:48 AM Thread Starter
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Leasing 2014 S class.... Bad idea?

I want to get the new 2014 S500 when it hits lots this fall, and I have owned many Mercedes in the past, but this time I want to do something different..... lease it. However, with no real experience with the process and how it works, coupled with the fact that this is a brand new model, I have a feeling the dealer is gonna rape me.....

Bad idea????

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post #2 of 9 (permalink) Old 07-15-2013, 09:33 AM
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I would not call leasing bad idea, I would call it paying high premium for not having to deal with car resale.
I would never consider that, but than I don't have cash for new S-class.
Remember newspaper article about a lady who leased a Subaru and liking the car extended the lease. After few years she paid twice more than the car original price and still did not own it.
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post #3 of 9 (permalink) Old 07-15-2013, 10:37 AM Thread Starter
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Yeah, I'd hate to over pay too much. Just entertained the idea since I don't put many miles on my Mercedes ( 1500 a year), and leasing seemed more ideal since I only drive my S class on Sunday's.

My current 2008 S550 (that I bought new back in 08) only has 7000 miles...

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post #4 of 9 (permalink) Old 07-15-2013, 11:13 AM
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Originally Posted by Kratos-TM View Post
Yeah, I'd hate to over pay too much. Just entertained the idea since I don't put many miles on my Mercedes ( 1500 a year), and leasing seemed more ideal since I only drive my S class on Sunday's.

My current 2008 S550 (that I bought new back in 08) only has 7000 miles...
Actually, I would say it's the other way around - if you put so few miles on a car, then leasing is actually not a good idea. Most leases have a max allowable mileage - usually 12k per year. You can sometimes negotiate or buy extra mileage. But unless you negotiate a lower price in exchange for lower mileage, what ends up happening is you return the car with way fewer miles than what is allowed. The leasing company benefits from a very low mileage pre-leased car which they can then resell at a higher price. But you get nothing in return!
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post #5 of 9 (permalink) Old 07-15-2013, 01:04 PM Thread Starter
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Actually, I would say it's the other way around - if you put so few miles on a car, then leasing is actually not a good idea. Most leases have a max allowable mileage - usually 12k per year. You can sometimes negotiate or buy extra mileage. But unless you negotiate a lower price in exchange for lower mileage, what ends up happening is you return the car with way fewer miles than what is allowed. The leasing company benefits from a very low mileage pre-leased car which they can then resell at a higher price. But you get nothing in return!
So is there no ideal scenario for leasing....is it just a bad idea in every category??...

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post #6 of 9 (permalink) Old 07-15-2013, 01:35 PM
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No, there are many good reasons for leasing. You pay far less monthly than buying but still get to enjoy a new car, you don't have to worry about repair bills, and you get to have a new car every few years (as long as you don't mind perpetual monthly payments). Because of the smaller monthly payments, you can also enjoy a nicer car than you otherwise would. This is especially so with options. A $2000 option package is $2000 out of your pocket but as a lease it's just a few extra dollars per month. Yeah, kind of justification logic but hey, you get to enjoy the cooler stuff!

There is also a peace-of-mind I get that I don't have to worry about getting everything just right. Even if I find I picked the wrong car or wrong options, I will only have to live with it a fixed amount of time. Plus I don't worry about every little ding and scratch like I do if I buy a car brand new. As long as these are smaller than a credit card, they usually do not count against you.

Being covered under warranty also opens up more brands. After some bad experience with VW repairs, I will not buy VWs anymore. But I still like the cars so I might be willing to lease since I will be covered by warranty.

But I would not lease if I drove too few miles, or if I planned to keep the car for more than say 5 or 6 years.
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post #7 of 9 (permalink) Old 07-15-2013, 02:21 PM Thread Starter
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No, there are many good reasons for leasing. You pay far less monthly than buying but still get to enjoy a new car, you don't have to worry about repair bills, and you get to have a new car every few years (as long as you don't mind perpetual monthly payments). Because of the smaller monthly payments, you can also enjoy a nicer car than you otherwise would. This is especially so with options. A $2000 option package is $2000 out of your pocket but as a lease it's just a few extra dollars per month. Yeah, kind of justification logic but hey, you get to enjoy the cooler stuff!

There is also a peace-of-mind I get that I don't have to worry about getting everything just right. Even if I find I picked the wrong car or wrong options, I will only have to live with it a fixed amount of time. Plus I don't worry about every little ding and scratch like I do if I buy a car brand new. As long as these are smaller than a credit card, they usually do not count against you.

Being covered under warranty also opens up more brands. After some bad experience with VW repairs, I will not buy VWs anymore. But I still like the cars so I might be willing to lease since I will be covered by warranty.

But I would not lease if I drove too few miles, or if I planned to keep the car for more than say 5 or 6 years.

Thanks a lot for taking the time out to respond Nick. Means a lot to a newbie to the board. Based on some things you said, I think leasing really may work for me in my situation. My only concern now is..... will the fact that it's the new S class debut season make for some crappy lease deals. I know if I wait till the summer, lease deals will become less consumer raping, but my wife and I really want it in the fall..... hmmm.....

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post #8 of 9 (permalink) Old 07-15-2013, 04:31 PM
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Hard to say whether the new S-class just coming out will result in a crappy lease or not. Depends I guess on how well they sell directly and also how much they estimate the car will hold its value at the end of 36 months (or whatever).

My very rough uneducated unscientific method for leasing has been that for a 36 month lease, I do not want to pay more than a total of about 45% the price I would have paid if I bought it (i.e., not sticker but what I think I could negotiate it down to). The lesser the better of course. YMMV
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post #9 of 9 (permalink) Old 07-16-2013, 07:41 AM Thread Starter
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Hard to say whether the new S-class just coming out will result in a crappy lease or not. Depends I guess on how well they sell directly and also how much they estimate the car will hold its value at the end of 36 months (or whatever).

My very rough uneducated unscientific method for leasing has been that for a 36 month lease, I do not want to pay more than a total of about 45% the price I would have paid if I bought it (i.e., not sticker but what I think I could negotiate it down to). The lesser the better of course. YMMV
Thanks Nick. That's a very good figure/goal to keep in mind...

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