Lease ending on GLC300... what to do?

Ask the Hackrs
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I got a leased 2019 GLC300 from the MB Bellevue WA dealer up in 2 months with residual value ~$29,000 27k mileage… What are peoples’ thoughts on buying it off (with a loan 6% rate) vs selling it to a MB dealer now and get a Lexus/BMW at MSRP? Any suggestions are appreciated!

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I suggest starting your own thread.

Have you checked rates at credit unions? I am sure you can do better than 6%, as long as you have good credit.

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Have you checked what’s the market value?

Have you tried getting an extension? Maybe kicking the can down the road just to buy some time.

Can definitely find a cheaper rate.

Find out what price are they giving you, if close to market maybe worth a shot.

& I’d suggest this should be moved to a new thread to avoid hijacking GLA thrrad.

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Thread split off

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But his name is Jack, so Hi Jacking should be allowed. :slight_smile:
And honestly it happens to all threads not just the MB ones.

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Lol i wonder what you would say about someone named Richard (Dick)…lol

But yeah it does… just figured the GLA thread was little more involved as the poster was looking for recommendations as well so it made more sense not to muddy the water.

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I haven’t yet. Good callout! Thanks

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I didn’t check their prices recently but in Aug MB dealers’ prices were ~$2,000 lower than 3rd parties. I guess it would be pretty much the same case now…

Have you tried getting an extension? Maybe kicking the can down the road just to buy some time.

Extending my current lease sounds like a good option, but I guess the question is that is it ever a good choice to buy a used Mercedes? Based on the high cost of maintenance and bad reliability stories I’ve heard of… so maybe I’ll kick the can down just to find a better time to get rid of it :slight_smile:

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Thanks for splitting this thread! I thought it’s similar question as the GLA one thus posted there :joy:

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It all depends on how much leg work you want to do. May be those 2k difference would easily be offset by taxes & fees if you were to buy out & sell yourself.

It all depends,

Are you buying to resell?

Are you buying to ride out the crazy market right now? (i.e - short term 1 to 3 years)

Are you buying to keep it? (i.e. - long term 5 or more years)

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That $2000 will cover tax. So basically the same?

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For now yes… since either me or 3rd party would have to take care of tax… Back in Aug tax is not involved in 3rd party buyout as far as my understanding

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Tax is never involved when a dealer buys it out from you.

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May be those 2k difference would easily be offset by taxes & fees if you were to buy out & sell yourself.

True…

Are you buying to resell? (1)
Are you buying to ride out the crazy market right now? (i.e - short term 1 to 3 years) (2)
Are you buying to keep it? (i.e. - long term 5 or more years) (3)

Oh I was referring to option 2. For short-term hold I’ll still need to replace tires, brakes, maybe extend warranty as well which contributes to most of maintenance cost for long-term hold. Which might be even more than the extra we need to pay for a new car in this crazy market… I think…

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I think someone mentioned that MB has 4 year warranty to i wouldn’t worry too much about extended warranty.

Also, unless you really abuse your cars i doubt that tires, brake would need replacing right away after purchase.

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