Hi guys I’m a first time buyer in Bay Area, any comment will be appreciated.
I got this deal for:
2019 C300W sedan
with premium package (keyless go), and parking assist package (360 top view and parking sensor),
Burmester surround sound system and heated front seat
Original MSRP $48860
I get offered:
$435 monthly, $1250 drive off + 5000 MSD
for 36 month, 7.5k miles/year
Selling price $42900, Buy price after three years $28880, residual rate 0.60, MF 0.00019
Is this a decent deal? Thanks!
7.5K miles/year is never a good idea. If you go over the miles you will have to pay the extremely high residual for the car. If you stay under the mileage then you are paying a bunch of money for a car you don’t actually drive.
$5000 in MSDs is a lot on a $49K car. There are plenty of other cars out there that have a low MF without any MSDs and with a whole lot more miles.
What’s the sale price, incentives, and MSRP?
What if they only need 7,500 miles/year? Sure, there are mileage penalties if you go over that, although I’m not sure what you are talking about when you say they would have to pay the high residual.
Yeah that comment made no sense. And not everyone drives the same amount. Or spreads it across multiple cars.
I’m not sure he is sure he knows what he is talking about judging by this and his other comments on a BMW loaner and C63 lease transfer while seeking help on an under 200 lease.
The mileage overage charges are typically $0.20-$0.25 per mile. That gets really expensive really quickly. In most cases it is just better to purchase the car at the residual price instead of incurring the overage charges. However, in this case the car has a very high residual and so neither of those options is a good idea.
Paying $400+ per month for a car you barely drive isn’t a good use of money. It is almost never a good idea to get an ultra low mileage lease. The only time it could make sense is with an exotic sports car where you really want to just show it off while it is parked as opposed to using it as a mode of transportation. That is also a bad financial decision but at least someone may see some value in it.
Nobody is buying a C300 to show it off especially not this particular specification.
625 miles per month is a ridiculously low amount of miles. Why pay a bunch of money for a car to just sit there most of the time? You are much better off just renting a car from Turo when you want it than leasing a car with this low mileage.
It is 87% likely you just made this up.
Again WTF do you care? Maybe some people drive 5-7 days a week but don’t drive very far. You think people want Turo for commuting or taking their kids to school/daycare every day? Either way it’s none of your business.
It seems like a troll
Seems high. For perspective, I got quoted $530 for 12k miles on a 54k MSRP C300 with ~$1900 DAS. This was in NY state.
Some people legitimately drive less than 7,500 miles a year. My mom drives around 6,000/year because she lives less than 2 miles from work.
Say someone drives 8,000 miles a year - that’s $325 in overage charges even if you assume $.25 per mile. Over 36 months, that’s $10.46 a month. I believe that to be a much better financial choice than buying out a car at a price that could be higher than actual market value, but what do I know.
Also, people often lease to be able to move into a new car every 2-3 years, so that kind of defeats the purpose if you’re suggesting that’s people just buy out their cars if they go over their miles rather than pay for the extra miles.