I know this topic has been asked but I have seen conflicting results.
I have a Benz that is 7k miles over lease and expires in Oct.
I have a dealer taking $3k off MSRP and covering last 3 payments. Which leaves me with 2 months and mileage to pay approx $3500. Dealer is telling me it’s best to roll in the 3500 into next lease because if they buy me out early it’s better. But, as of now I think 3 years from now I would like to buy out car & of course, I would be paying financing/MP on it.
So, should I roll the 3500 into lease or pay upfront/out of pocket?
Thanks for reading
Thanks for ur response. Would you mind giving me more details? Should I ask for more money off and/or I should not put the overmileage into the lease, but pay out of pocket?
You have a lot of moving parts here, so unless you’re really good at numbers and putting a car deal together, it’s best to think through them one at a time.
Step one would be to set aside your current vehicle for a moment, and determine if the car you’re targeting (which one is it btw?) makes sense to lease, and if it does, determine what pre-incentive discount you should target.
Back to my original comment, when the dealer offers to “cover” something, or “eat payments,” what they are really doing is taking a portion of the discount you could otherwise achieve and using that to offset something else (remaining payments, mileage charges).
Classic shell game. It’s way too easy to get lost.
But I’d start the other way. Sounds like the main issue is the current car is over miles. Is that the main reason you’re trying to get out of it early? I’d first find out what the market value is and what you’d have to pay to buy it out now (payoff). How underwater is it?
I’d get that sorted before jumping into another lease where you will once again be mileage limited.
You can run the numbers. Most likely your lowest cost is finishing the lease and paying the excess miles at the end (or one day before if it’s cheaper).
Don’t lease something next if you are going to go over miles again or your intention is to buy it at the end of the lease.
