I have two MB lease for commute usage, due to COVID, I only drive 200 miles per month. I would like to get rid of the lease, however MB suspended lease transfer, and there is no timeline to resume lease transfer. So I am looking for suggestions.
MB 2018 GLE 350, monthly payment $623, 15 months and 20K miles left, refundable deposit $2600, residual value(buyout price at the end of lease) $33200, buyout price now $39800
MB 2019 GLC 350e, monthly payment $410, 11 months and 14K miles left, refundable deposit $5000, residual value(buyout price at the end of lease) $36832, buyout price now $35315
I did some homework, and seems the best way is to buyout, if I choose to buyout, should I buyout now or buyout at the end of the lease?
Updated:
My idea:
I am inclined to keep one and sell one. for the one I am going to keep, I will likely end up buyout anyway since I will not be able to fully utilized the mileage at end of the lease.
Would like to seek for suggestions on:
Which one is worth keeping?
For the one chose to be kept, should I buyout now or buyout at the end of the lease?
Vrooms, carvana… have been offering more than carmax. Given the shortage I’m guessing a Mb dealership will have not trouble selling it as a certified vehicle so they might actually offer you the most.
Also just because you’re under on mileage doesn’t necessarily mean you should buy it out at the end of the lease. The car could still be worth less than it’s market value.
If you don’t care which car you keep, then all else being equal I’d just sell the one that you’re less upside down in.
For the one you keep, just do the math re: better to buy it now or wait till lease end. Run two scenarios, add up the potential payments and see what option makes the most sense.
Keep in mind the buyout price that MBFS gives you already includes the MSD. So if you’re able to sell the car to Carvana at the buyout price, you’re not getting the MSD back. That said, it still seems to be the best option given that transfers are no longer offered
Just get quotes from Vroom, Carvana, Shift, GMTV etc. I recently got rid of E Coupe for a little profit and breaking even on GLC that I’m in process of right now.