Not a great deal, not even a good deal, but I was really happy with park place Mercedes in Dallas. After other dealers locally wasted days of my time, I was able to get a deal done with them in less than an hour. Really nice and professional, and are shipping the car about 200 miles for free.
Yeah I am probably losing about $10k by leasing and not purchasing. I really don’t want to own these overpriced unreliable cars, there is a good chance you will end up sinking that $10k back into the car pretty quickly. The main reason though is because I am able to expense the lease payments, getting full depreciation will take longer.
I can’t imagine spending 65% to 75% of the value of a car in one payment just to rent it. This vehicle has an abysmal residual value.
Congrats on the car. Probably should have just purchased it and sold it have 3 years. Haven’t run the numbers, but I’m willing to bet you would have come out far ahead.
Best in market pricing for 3 year old GLEs with low miles still hovering at 50% RV … financing at 0-1% paying out net 50-60K could have saved 20-30K if having to have this vehicle new.
Let alone picking up a 2-3 year old CPO … would have a similar 3 year period of ownership under full warranty at even less (significantly) cost.
Definitely a risk on ownership costs with the German vehicles but there are other means to abate these risks without solely going the lease route (for your future considerations)
Agree. Looking at a 2-3 CPO purchase, despite the '21 refresh (which is really nice). The new ones just don’t make sense. Lease is crazy and dealers won’t discount much, if anything at all. But, to each his own.
I am second guessing myself now, so I am waiting for the CPA to respond. They are driving the paperwork over this evening so I can still purchase the car. Unless I can fully depreciate the car in under three years, I don’t think it’s going to make sense to purchase for tax purposes.
Have you talked to acountant before leasing? If it qualifies for section 179 (this dealer says yes) then tax burden impact should not be part of your calculation.
Sure it should, as the plan appears to be to only keep it for three years if it’s a lease or purchase. A section 179 depreciation would allow for showing full depreciation this year but would require income recapture in three years based on the selling price.
