I am considering an R 350 with a sticker of $60,900. My dealer is discounting the car down to $53,750 because I have had MAJOR problems with my 03 ML 500. I have negative equity of $3k in the ML which my dealer takes care of. Drive off is also $3k, so my lease payment incl. taxes will be $732 for 39 months. Is this a good deal? Any help would be appreciated.
You did not say whether or not it's an open end or closed end lease. What are the mileage restrictions, i.e. 12,000 per year?
My math says that your total payments will be $31,548. they are saying that your residual value in 3 years, 3 months will be around $24,000, if you don't go over your mileage, that is.
I personally don't like leases. they have the depreciation built into the vehicle and you take the beating, giving back the car afterwards. They are also too restrictive. You never know if you're going to need it more than you thought. I actually knew someone who parked their truck for over 3 months while making lease payments on it because they were over miles.[:0]
You make some good points and I thought about them. This is an open end lease, 15,000 miles and actually the numbers changed 4 days ago when I bought the car from another dealer: it was a $64k car and my payment is now $721/month for 39 months with getting me out of my old problem ML. I have my own business and can write off the whole thing. The problem is that I just don't keep cars long enough to purchase them. I love new cars too much :)
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