[Plato]

Hi Guys,
I have 2001 C320 Sport and thinking of upgrade.
Dealer offered new 2005 E500 bl/charc with Premium package, keyless go, rear seat package and trunk closer for about 61500 before sales tax + 2500 for a new phone system (phone included).

LEASE OPTION $818/mo with $0 down. 39 mo lease. About $35000 purchase price at lease end.
I drive about 10000 mi/yr

BUY OPTION $976/mo @ 6% for 60months $18000 downpayment.

Also I really prefer CLS i even put deposit in summer. Price with premium package and phone is about $74000 before sales tax.

I dont know exactly what it costs to lease but i would imagine about $900 month/39 mo $0 down

BUY OPTION $1076 month for 60 months with $23000 down.

I would appreciate any input on lease/buy which one you would pick and how quickly you think CLS and E500 will depreciate.

I already lost about $9000 in a year on c320 i bought it a year ago for 27000(before tax) and now dealer offers for it 18000. So I'm thinking that get $13000 equity back from c320 and lease E500/CLS with $0 down may be not a bad option.

Thanks a lot,
Plato

 

[Storm]

Regardless of how you plan on paying for it, I would advise you to go for a CLS. W211's are too common and not as fun to the equivelant CLS.

I'd personally go for the buy option.

 

[wirelesscoyote]

I would go for the E500, if you want the space. And the look of the E500 is not as controversal as the CLS. And money wise, E500 is a better choice.

 

[sosh]

In my estimation the only reason to lease over purchase/finance is if the vehicle is a legit business expense and can be written off.

 

[JG in SB]

sosh - 2/1/2005 5:39 PM

In my estimation the only reason to lease over purchase/finance is if the vehicle is a legit business expense and can be written off.

I agree with sosh. Besides the write-off, alot of people lease because that is their only option to "own" a car that they otherwise could not afford. If you are in a position to buy (which is what it sounds like), and you either don't plan on taking a write-off for the lease or can't legitimately qualify to take the write-off, then you should purchase.

I don't know a single person who was happy with the way things turned out at the end of their lease (with the exception of the "write-off" category folks). They all seem to go over the allowed mileage or have something else happen that ends up making the lease option far less attractive than the buy option in hindsight.

Also, at least for me, it would be AGONIZING to have to write out a $35,000.00 check for what is at that point, a three year old car, at the end of the lease that you are talking about.

That's my humble opinion.

 

[SCHUTZEE]

dup

 

[SCHUTZEE]

Plato,

What dealer did you get these quotes from? I live on Long Island and have just ordered a E500S4 with premium, heated seats and power tailgate in platinum blue with ash. MSRP is $67,950 cap cost $59,690 and residual of $35,991. The monthly payment with zero down and tax in is $999 with 15,000 miles a year. Would the extra 5000 miles a year affect the payment that much? Am i getting hosed?

I appreciate any advice. I am glad I found this board. AS a newbie, I hope this is in the correct forum.

 

[spine911]

JG in SB - 2/2/2005 2:44 PM

sosh - 2/1/2005 5:39 PM

In my estimation the only reason to lease over purchase/finance is if the vehicle is a legit business expense and can be written off.

I agree with sosh. Besides the write-off, alot of people lease because that is their only option to "own" a car that they otherwise could not afford. If you are in a position to buy (which is what it sounds like), and you either don't plan on taking a write-off for the lease or can't legitimately qualify to take the write-off, then you should purchase.

I don't know a single person who was happy with the way things turned out at the end of their lease (with the exception of the "write-off" category folks). They all seem to go over the allowed mileage or have something else happen that ends up making the lease option far less attractive than the buy option in hindsight.

Also, at least for me, it would be AGONIZING to have to write out a $35,000.00 check for what is at that point, a three year old car, at the end of the lease that you are talking about.

That's my humble opinion.

I couldnt agree more[]

 

[BillT]

IMO: CLS looks great from the outside, but I didn't like the inside as much as the E. So, I just bought another E. One major difference is the visibility -- CLS is like sitting in a bath tub, similar to the CLK. Doors are very high. Plus it's the same platform and more expensive, while performance is at best the same. Your deal at $61.5k sounds fair lease or buy.

I've bought my last several cars (incl 2 MBs I still have). I last leased in '96 with no real issues, other than a feeble attempt to bill me for non-existent problems on the return, which I ended up winning. I leased this latest E, b/c I didn't want to mess with disposing of it when I'm done with it.