Would like to have your opinion!!

TiktikTiktik Member Posts: 6
edited September 20 in Mercedes-Benz

Hello, this is the first post for me here and thank you for your time!!

Currently, I have a lease 2018 GLE 43 coupe and the lease ends this month. The buy out is 39k. A few dealerships offered me 60k for this.

Now, I am looking for a new lease GLE 52 coupe but all dealership said that they have 10-15k mark up on top of the mrsp…due to the shortage of inventory and high demand. I got a few lease quotes from few dealerships but the payment is like crazy. (I’m from South Bay, CA by the way)

I thought that maybe I could sell my current GLE, get the 21k (39k goes to MF), and use that for the down payment for the next lease but I am not sure if this is the best option.

Since I am not expert on this, I wanted to have your idea what you would do. (Maybe financing a new car or wait for this trend ends after buying out the current lease, or just extend the current lease…?)

Much appreciate your time!!!

Answers

  • kyfdxkyfdx Moderator Posts: 201,024
    Tiktik said:

    Hello, this is the first post for me here and thank you for your time!!

    Currently, I have a lease 2018 GLE 43 coupe and the lease ends this month. The buy out is 39k. A few dealerships offered me 60k for this.

    Now, I am looking for a new lease GLE 52 coupe but all dealership said that they have 10-15k mark up on top of the mrsp…due to the shortage of inventory and high demand. I got a few lease quotes from few dealerships but the payment is like crazy. (I’m from South Bay, CA by the way)

    I thought that maybe I could sell my current GLE, get the 21k (39k goes to MF), and use that for the down payment for the next lease but I am not sure if this is the best option.

    Since I am not expert on this, I wanted to have your idea what you would do. (Maybe financing a new car or wait for this trend ends after buying out the current lease, or just extend the current lease…?)

    Much appreciate your time!!!

    Get quotes from Carvana, Vroom and Carmax. They can buy your car directly from MBFS, and you won't have to do anything but provide them your registration and lease statement. But, if you are in the last month of your lease, there may be restrictions on who you can sell it to.

    But, assuming you clear a big chunk of money, you'll have to make a decision independent of what you do, next. No point in overpaying, just because you've realized a windfall.

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    Did you get a good deal? Be sure to come back and share!

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  • TiktikTiktik Member Posts: 6
    edited September 20
    kyfdx

    Thank you for your response.
    One of the dealerships just gave me this break down for the new lease and I am wondering if this is a good deal or any spot to negotiate.

    2021 GLE 53 Coupe
    MSRP: $90945
    Selling Price: $105945 (They marked 15k)
    Residual: 54%
    Down Payment: 15k
    MF: 0.00200
    Cap Reduction: $9976,16
    Sales Tax: 1059.84
    License/Reg Fee: $1041
    Up Front Luxury Tax: “In PYMT”
    Acq Fee: $1095
    Dealer Document Fee: $85
    36 months/10000 miles per year
    Monthly Payment (Inc Los Angeles Tax): 1743.01

    They said they used Tier 1 for this.

    I know that the mark up is ridiculous because of all the dealerships around LA are doing the same.

    If you can advice me on this deal, that would be great.
    I have not asked about MSD yet.

    Thank you!
  • TiktikTiktik Member Posts: 6
    kyfdx said:

    Tiktik said:

    Hello, this is the first post for me here and thank you for your time!!

    Currently, I have a lease 2018 GLE 43 coupe and the lease ends this month. The buy out is 39k. A few dealerships offered me 60k for this.

    Now, I am looking for a new lease GLE 52 coupe but all dealership said that they have 10-15k mark up on top of the mrsp…due to the shortage of inventory and high demand. I got a few lease quotes from few dealerships but the payment is like crazy. (I’m from South Bay, CA by the way)

    I thought that maybe I could sell my current GLE, get the 21k (39k goes to MF), and use that for the down payment for the next lease but I am not sure if this is the best option.

    Since I am not expert on this, I wanted to have your idea what you would do. (Maybe financing a new car or wait for this trend ends after buying out the current lease, or just extend the current lease…?)

    Much appreciate your time!!!

    Get quotes from Carvana, Vroom and Carmax. They can buy your car directly from MBFS, and you won't have to do anything but provide them your registration and lease statement. But, if you are in the last month of your lease, there may be restrictions on who you can sell it to.

    But, assuming you clear a big chunk of money, you'll have to make a decision independent of what you do, next. No point in overpaying, just because you've realized a windfall.

    @kyfdx

    Thank you for your response.
    One of the dealerships just gave me this break down for the new lease and I am wondering if this is a good deal or any spot to negotiate.

    2021 GLE 53 Coupe
    MSRP: $90945
    Selling Price: $105945 (They marked 15k)
    Residual: 54%
    Down Payment: 15k
    MF: 0.00200
    Cap Reduction: $9976,16
    Sales Tax: 1059.84
    License/Reg Fee: $1041
    Up Front Luxury Tax: “In PYMT”
    Acq Fee: $1095
    Dealer Document Fee: $85
    36 months/10000 miles per year
    Monthly Payment (Inc Los Angeles Tax): 1743.01

    They said they used Tier 1 for this.

    I know that the mark up is ridiculous because of all the dealerships around LA are doing the same.

    If you can advice me on this deal, that would be great.
    I have not asked about MSD yet.

    Thank you!
  • MichaellMichaell ColoradoModerator Posts: 196,681
    Tiktik said:

    kyfdx said:

    Tiktik said:

    Hello, this is the first post for me here and thank you for your time!!

    Currently, I have a lease 2018 GLE 43 coupe and the lease ends this month. The buy out is 39k. A few dealerships offered me 60k for this.

    Now, I am looking for a new lease GLE 52 coupe but all dealership said that they have 10-15k mark up on top of the mrsp…due to the shortage of inventory and high demand. I got a few lease quotes from few dealerships but the payment is like crazy. (I’m from South Bay, CA by the way)

    I thought that maybe I could sell my current GLE, get the 21k (39k goes to MF), and use that for the down payment for the next lease but I am not sure if this is the best option.

    Since I am not expert on this, I wanted to have your idea what you would do. (Maybe financing a new car or wait for this trend ends after buying out the current lease, or just extend the current lease…?)

    Much appreciate your time!!!

    Get quotes from Carvana, Vroom and Carmax. They can buy your car directly from MBFS, and you won't have to do anything but provide them your registration and lease statement. But, if you are in the last month of your lease, there may be restrictions on who you can sell it to.

    But, assuming you clear a big chunk of money, you'll have to make a decision independent of what you do, next. No point in overpaying, just because you've realized a windfall.

    @kyfdx

    Thank you for your response.
    One of the dealerships just gave me this break down for the new lease and I am wondering if this is a good deal or any spot to negotiate.

    2021 GLE 53 Coupe
    MSRP: $90945
    Selling Price: $105945 (They marked 15k)
    Residual: 54%
    Down Payment: 15k
    MF: 0.00200
    Cap Reduction: $9976,16
    Sales Tax: 1059.84
    License/Reg Fee: $1041
    Up Front Luxury Tax: “In PYMT”
    Acq Fee: $1095
    Dealer Document Fee: $85
    36 months/10000 miles per year
    Monthly Payment (Inc Los Angeles Tax): 1743.01

    They said they used Tier 1 for this.

    I know that the mark up is ridiculous because of all the dealerships around LA are doing the same.

    If you can advice me on this deal, that would be great.
    I have not asked about MSD yet.

    Thank you!
    In my opinion, $15K over MSRP would end the conversation.

    When did CA institute a "luxury tax" for leases? That's news to me.

    You're probably better off buying out your lease, if that's the kind of quote you're going to get.

    Edmunds Price Checker
    Edmunds Lease Calculator
    Did you get a good deal? Be sure to come back and let us know! Post a pic of your new purchase or lease!


    MODERATOR

    2015 Subaru Outback 3.6R / 2014 MINI Countryman S ALL4

  • TiktikTiktik Member Posts: 6

    @Michaell said:
    In my opinion, $15K over MSRP would end the conversation.

    When did CA institute a "luxury tax" for leases? That's news to me.

    You're probably better off buying out your lease, if that's the kind of quote you're going to get.

    Thank you for your advise!
    Yes it looks like it. They said that there’s no luxury tax it’s just the software shows it as default. But they are not willing to negotiate on the 15k over msrp as obviously there are some buyers still buying at the price I guess.

    Do you know if there is some chance that I can have some discount on this buying out? Any CPO warranty?

    Maybe my plan for the new lease for now is to wait on the inventory backed up a little bit so that the mark up decrease.

  • MichaellMichaell ColoradoModerator Posts: 196,681
    Tiktik said:

    @Michaell said:

    In my opinion, $15K over MSRP would end the conversation.

    When did CA institute a "luxury tax" for leases? That's news to me.

    You're probably better off buying out your lease, if that's the kind of quote you're going to get.

    Thank you for your advise!

    Yes it looks like it. They said that there’s no luxury tax it’s just the software shows it as default. But they are not willing to negotiate on the 15k over msrp as obviously there are some buyers still buying at the price I guess.

    Do you know if there is some chance that I can have some discount on this buying out? Any CPO warranty?

    Maybe my plan for the new lease for now is to wait on the inventory backed up a little bit so that the mark up decrease.


    Can’t negotiate the buyout price; it’s fixed in the contract you signed.

    Talk to the dealer about CPO.

    Edmunds Price Checker
    Edmunds Lease Calculator
    Did you get a good deal? Be sure to come back and let us know! Post a pic of your new purchase or lease!


    MODERATOR

    2015 Subaru Outback 3.6R / 2014 MINI Countryman S ALL4

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