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Prices Paid: Buying & Leasing Experiences Mercedes-Benz R-Class Lease Questions
740 messages, Last post on Aug 11, 2009 at 1:52 AM
You are in the Prices Paid: Buying & Leasing Experiences Forum. Your Hosts are car_man & kyfdx
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Replying to: zorogris (Jan 16, 2009 4:41 pm)
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Replying to: irishrogue1 (Jan 16, 2009 4:51 pm) |
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My car's lease will expire on 2/3/09. Is there a 5 day grace period after the expiration? |
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Greetings, dear friends. I need help. Not sure what to do. My residual is nearly $39k. Just spoke with them, and they offered to take $13,388 off, bringing the buy-off to $25,587. This offer is most likely based on the mileage I told them on the phone (6,000 less than my allowance). I could have misrepresented the number, but that is not me. I like the car, but it seems they are not being fair in their asking price. According to KBB, the trade-in values are: $22,775 (Excellent condition) ... $21,625 (Good) ... $19,675 (Fair) Edmunds: $21,351 (Trade-in - "Clean") ... $23,234 (Private party) ... $24,736 (Dealer retail) It seems I could give this one back, and re-purchase a similar car from a dealer auction for $19-22k. My biggest concerns: (a) Paying for maintenance after the warranty runs out. OR purchasing extended warranty; (b) Its resale if I decide to change it after 2 years. It will likely come down to $13-15k. (Does anyone [dis]agree with this?) They seemed firm on their offer. Is there a point if I ask to speak with a manager? What is my leverage? I need advise. Thanks.
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Replying to: nm_socal (Feb 02, 2009 12:19 pm) Definitely you can get similar car from auction at about 19K-21K. But if you can ask them to let your CA be CPO which will have another one more year warrant, then I still think that 25K is reasonable. For new one with MSRP $55000, now you can get it for about $44000. after three years, 25K is about 55% of $44000. |
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Replying to: nm_socal (Feb 02, 2009 12:19 pm) I just got my 2006 R350, I have been looking for a long time. You will never find one with Panoramic roof, memory seats, front fog lights, parktronic for less than $25K, that is if you find it at all (mainly R500 have all of these features). I paid $25.5K with cpo Panoramic roof, air suspention, rear DVD, memory heated front seats, parktronic, headlight cleanning, wood steering, power lift gate, folding mirrors, Bi-xenon and navigation. I had to have all of these features, but it was very hard to get them all in an R 350. I was lucky that I got a good color (silver on black). However, i had to sacrifice the 18" wheels, rear heated seat and accept a 42K Mi on the car. What features do you have on your current car?
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Replying to: tarikmay (Feb 05, 2009 6:57 pm) My car has dual sunroofs (this is called panaromic, right?), navigation, power liftgate, parktronic, navigation, 6-CD changer plus one, and heated front seats. It does not have headlight cleaning, or wood steering or DVD or folding mirrors or Bi-xenon. So, I would say it has fewer features than your car. The slight edge I have is a lower odometer reading. I am in Southern California. Where are you? Does it matter? My car is not a CPO ... but I guess that's pointless since I am the first owner. Right? I feel I should not be asked to pay the retail price for this car. They have not invested in this car, have not had to market it, and are getting a buyer on a platter. They should not have this take-it-or-hit-the-road attitude - specially in this economy. At $22k, I would get it in a heartbeat. At $25k + TTL, I am not sure. Any comments??? Thanks again.
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Replying to: nm_socal (Feb 05, 2009 9:13 pm) Any comments??? Thanks again. I understand your feelings... but, if MB Finance probably figures that if they have to let the car go for true wholesale, why not sell it to one of their own dealers, who can then sell it for retail? After all, MB Finance doesn't have to market the car or find a buyer... At the wholesale price, the dealer either keeps it, or they send it to auction. They gain nothing by giving it to you for that price. I think this applies to just about every captive finance arm. They will face reality and drop the residual amount... but, if the price has to be one that a dealer will pay (auction/wholesale), then they'll just sell it to their dealer. regards, kyfdx
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Replying to: nm_socal (Feb 05, 2009 9:13 pm) I too, am concerned about maintenance costs, but LOVE the car. It might just be less of a hassle to me to consider another CPO (not R class) since I think the depreciation still has a way to go. My friend paid 20K for her R350 at an off-lease dealership. She did not have all the options I have, and had 40K miles on the odometer. Still I would like to pay less than 25K, considering the auction prices. Thanks for all the great feedback kyfdx.
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Replying to: pinerivergal (Feb 06, 2009 7:35 am) I just wanted to send a quick update. No new development. No contact, and no followup from MB Financing. The dealership called, trying to sell me a new car. They haven't come back as yet with the options regarding the end-of-lease options. My biggest concern with purchasing this car would be its post-warranty maintenance, and resale value in 2-3 years. So, unless they offer some more discount off of the residual, I am preparing to walk away. Thanks, again. Will send another update soon.
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