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Prices Paid: Buying & Leasing Experiences Mercedes-Benz C-Class Lease Questions
601 messages, Last post on Dec 07, 2009 at 7:06 AM
You are in the Prices Paid: Buying & Leasing Experiences Forum. Your Hosts are car_man & kyfdx
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Hi EOL9. While most banks do provide a discount in the amount that they charge lessees for excess miles purchased at lease signing over the price that they charge at lease-end, I suspect that you are too late to get any sort of discount on additional mileage for your car. If you know the full MSRP of your car, how much you paid for it, and what its lease-end purchase price (aka residual value) is, you should be able to use the formula that is outlined in the following article to back into your car's approximate lease money factor if you really want to: Calculate Your Own Lease Payment. What's done is done though and there's nothing that you can do about to change your car's money factor at this point so it really doesn't matter. In order to determine whether you should purchase your vehicle at the end of your lease, you need to compare its purchase price to its value on the open market at this time. Even though it states your car's purchase option price on your lease contract, you should place a call to the bank that you are leasing it through just to make sure that you have the correct figure. When you do so, it never hurts to try to haggle with them. Some banks will negotiate the lease-end purchase prices of vehicles. If your initial contact at your bank is not willing to lower your vehicle's purchase price, you may have better luck if you work your way up the ladder to a manager. There is a good chance that they will not lower your vehicle's price, more often than not they will not, but you don't have anything to lose by asking. As I said earlier, once you know exactly how much money it is going to cost you to buy your leased vehicle you need to compare it to its current value on the open market. You can find out approximately what your vehicle is worth by looking up its Edmunds.com True Market Value in the Used Vehicle Pricing section of this site. You also may want to stop by the following discussion: "Real-World Trade-In Values". One of our most knowledgeable community members, Terry, frequents that discussion and he is often kind enough to give community members who give him an accurate description of their vehicles with his opinion on their value. Once you know what your car is worth on the open market versus what it will cost to buy it, you can make an educated decision about whether to purchase it at lease-end or not. If your car is worth more than or around the same as irs purchase price, you can buy it and trade it in (most dealers will facilitate this sort of transaction) or you can buy it and continue to drive it. A bonus to purchasing your vehicle at the end of your lease is that consumers who buy their leased vehicles do not have to pay any sort of penalty for excess mileage or excess wear and tear. Car_man Host Smart Shopper / Prices Paid Forums |
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Carman- What are the current residual and MF for a c280 4-matic? I was told by a dealer that their "deal" is good through Nov. 30th, but of course it makes sense to figure out on my own what I want to spend before jumping at their deals. Looking at 39 month and either 12 or 15k miles. Thanks. |
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You're in luck, gold233790. I just had an opportunity to take a look at Mercedes- all new November lease program for this car. If you were to lease a 2006 Mercedes-Benz C280 4Matic through Mercedes-Benz Credit in November for 39 months with 15,000 miles per year, its buy rate lease money factor and residual value should be .00205 and 59%, respectively assuming that you pay a security deposit, acquisition fee, and qualify for its top credit tier. Its 12,000 miles per year residual value would be 2% higher. Car_man Host Smart Shopper / Prices Paid Forums |
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Are the residual and MF for the regular C-280 much different from those you posted above for the 4-matic? Also, I'm in Texas where it appears that when leasing a car, the lessee has to pay sales tax on the full value of the car, not just on the portion leased. Are you familiar with this practice and does it make leasing a car in Texas not a good idea financially?? Thanks - Blease
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Carman, Can you please advise me of the December MB lease rates on a 2006 C280 4matic, 15,000/Yr 39month lease in NY. Thanks HSC
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Replying to: blease (Nov 25, 2005 12:51 pm) Unfortunately, I am aware of the annoying way that Texas calculates sales tax on leased vehicles. Many Texas residents get around the high sales tax that is charged on leases by getting balloon notes instead. Balloon notes are very similar to leases, but sales tax is calculated differently on them in your state. Car_man Host Smart Shopper / Prices Paid Forums |
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Replying to: hcagan (Dec 02, 2005 7:59 pm) Car_man Host Smart Shopper / Prices Paid Forums |
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Replying to: Car_man (Dec 06, 2005 2:55 am) Please provide me with current MF and Residual for a 2006 C230 Automatic Sedan for a 2yr, 15000mi/yr lease and a 3yr, 15000mi/yr lease. The dealer I am working with is offering to pay my first two lease payments for me. Have you ever heard of that before? Thanks in advance.
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Replying to: sofakingcool (Dec 21, 2005 10:25 am) Car_man Host Smart Shopper / Prices Paid Forums |
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Replying to: sofakingcool (Dec 21, 2005 10:25 am) i was in and out in 1 hour. houston, tx.
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