End of lease with Mercedes...any feedback

movingoften

I have a leased 2019 Mercedes GLC. The 36 month lease ends in a few months. The car has less than 22k miles and we got an excellent deal on the lease at the time. Has anyone dealt with Mercedes Financial this year? I haven't called yet to see what the lease end options are. I am sure they want this car back with used car prices so high.
Questions..... Answer if anyone has done any of the below! Thanks!

Is MBFinancial allowing places like Zoom to purchase the car at lease end?
What are the rates that Mercedes Benz gives to refinance the car through them right now?
If I purchase the car myself, and then resell to Zoom, how long does the paperwork take to get title?
If I refinance the car through MBFinancial, will they allow me to sell to Zoom a few months after I refinance through MBF?

Michaell

Paging @fintail ....

fintail

I have a lease ending in about 6 weeks. I haven't taken much action yet, as I am pretty sure I will buy the car - it's worth at least 10K more than the buyout, and has been a good car, so I think I'd be dumb to walk away from it. There was a time when 45K for a 3 year old E might be a big high, now it is a screaming bargain.

The only thing I've been told is that I would have to do the buyout at the local dealer, I can't do it remotely from the salesman who I dealt with when I acquired the car.

I think MB/MBFS has rates on their site - competitive for 36 months or less, but the last time I looked, not special for longer. I've read on owner forums that MB does not allow a lessee deal with the third party buyers if the car is not bought out, but I'd imagine once you are financing it outright, you could sell it as you pleased.

kyfdx

@fintail Have you contacted MBFS to see if you can buy from them directly? Wasn't clear if it was the dealer or the bank that informed you.

fintail

I've only talked to the original selling dealer (which isn't the one near me now), who told me I would have to do the buyout through the local dealer.. I am pretty sure I read on the MB/MBFS site that a lease can be financed directly from MBFS, although from what I can tell, their best rates are only for terms that are unusually short in today's world. I'll update when I move forward, but it might not be for a few weeks.

kyfdx said:

@fintail Have you contacted MBFS to see if you can buy from them directly? Wasn't clear if it was the dealer or the bank that informed you.

kyfdx

fintail said:

I've only talked to the original selling dealer (which isn't the one near me now), who told me I would have to do the buyout through the local dealer.. I am pretty sure I read on the MB/MBFS site that a lease can be financed directly from MBFS, although from what I can tell, their best rates are only for terms that are unusually short in today's world. I'll update when I move forward, but it might not be for a few weeks.

kyfdx said:

@fintail Have you contacted MBFS to see if you can buy from them directly? Wasn't clear if it was the dealer or the bank that informed you.

I definitely would attempt to go through MBFS, even if you bring your own financing. Or, let them do it, and re-finance later. This is the first I've heard of Mercedes requiring you to go through a dealer. If that's the case, you can be sure the dealer will tack on fees.

movingoften

Thank you all for the information. Mine is worth 10k over buyout as well. I have the cash to buy it, but would rather hold onto my cash and finance the buyout. So, we will see what MBFS says. I was hoping one of my Credit Unions could get the loan. But I have a feeling Mercedes wants these leases to sell themselves and make $. I will keep you updated in a few months as I am sure others out there would like to know their options!

fintail

Oh, I meant the dealer handling the sales paperwork, not the financing. I was told I couldn't do the paperwork/sale through the original dealer remotely, I had to do it locally or drive back to the first dealer. Financing wasn't discussed. I am thinking my bank may offer a better rate on a 60 month term, but I will shop it.

MBFS has 1.9% for many CPO models right now. In the past I've read some lease buyouts were made CPO by the dealer and then financed that way.

kyfdx said:

fintail said:

I've only talked to the original selling dealer (which isn't the one near me now), who told me I would have to do the buyout through the local dealer.. I am pretty sure I read on the MB/MBFS site that a lease can be financed directly from MBFS, although from what I can tell, their best rates are only for terms that are unusually short in today's world. I'll update when I move forward, but it might not be for a few weeks.

kyfdx said:

@fintail Have you contacted MBFS to see if you can buy from them directly? Wasn't clear if it was the dealer or the bank that informed you.

I definitely would attempt to go through MBFS, even if you bring your own financing. Or, let them do it, and re-finance later. This is the first I've heard of Mercedes requiring you to go through a dealer. If that's the case, you can be sure the dealer will tack on fees.