My wife and I both love the car. The exterior is “meh”, but the interior, the tech, and the feel of the car and ride is mind-blowing.
I’m just a little concerned because a couple of people on Reddit mentioned that EVs depreciate like hell because of how rapidly the technology changes, and it’s best to lease. But isn’t that true of all vehicles? Isn’t that true of all EVs? Does that mean everyone financing a Tesla is making a stupid financial decision?
I get that a car is a depreciable asset, and you will always lose money in the end. But some cars depreciate worse than others. Where does the EQS stand?
Teslas are perhaps the only EVs that don’t depreciate horribly. But Elon’s race to the bottom (in terms of pricing) may change that.
I don’t think the EQS has been out long enough for there to be much data. But these things were leasing well for period of time, and it wasn’t b/c people were dying to get their hands on one.
I’m a long time (but former) MB fan. Very little that MB produces in its first-generation (at least over the past 30 yrs or so) is very good. The original ML, the modern SLK, the Maybach, the CLA,… the list goes on and on. And didn’t someone mention a poorly shielded underbody on the EQS? This was MBs first attempt at a purpose-built EV platform. Do you think they got everything right the first time around?
Not many people want this car now, fewer people are going to want it when the tech is completely outdated (and when whatever expensive electrical systems it has go on the fritz and needs thousands to repair). How many older S-Classes do you see around? You probably won’t see more older EQSs…
Yes, the first owner took a big hit up front. If you keep this for several yrs, you will be taking the bigger hit.
It’s not a $148k car. It never was. Go check the EQS lease superthread for a reality check on EQS resale value. The MMR (auction values) is showing a 45-50% value after one year. In addition to this atrocious resale value, you’re going up eat sales tax on the full $115k. You’ll be at $30k negative equity tomorrow.
Keep in mind that 15% off, which isnt unreasonable, plus the $7500 and $4500 in incentives puts you right at about $115k on a brand new one, so you could lease new for the same price and then MBFS would be responsible for the depreciation. And the money factor on the eqs580 is pretty low.
I wish there would be more education about how used cars are not always better. I know so many people that make very good money that refuse to even entertain a new car. God forbid, you mention a lease. That is like lighting money on fire. It is all about total cost of ownership, like others have said. There are many resources here and you have targeted a car that seems to lease particularly well, so please take everything in before making a potentially bad decision.
This is interesting because usually its a “this lease is horrific, this is a purchase vehicle, very few vehicles lease well” but this is an insane purchase deal. I would find a broker for this if you don’t know what your doing (don’t know deals) as you stated.