Mercedes Benz EQS 450+ SUV - Deal Check

Ask the Hackrs
1

Looking at the following deal. Seems weird, but is it worth it? I am trying to burry A LOT of negative equity in a car I just purchased that no longer works for me (medical hip stuff - can’t sit in it any more for longer than 10 minutes). So I probably have like 20K negative equity and looking for a screaming deal to help me roll it in, or just provide me a cheap car so I can get this other car sold.

Also looking at silly deals on Lexus RZs.

I am new to this. So let me know if I miss a crucial detail.

  • 2023 EQS 450+ SUV
  • 4999 die at signing
  • MSRP of $110,710
  • Lease for $854 including tax
  • $10,000 in Security Deposits
  • 13 Month
  • 8,125 miles
  • $595 vehicle turn-in fee

Thanks all for your help!

2

I think the amount due at signing is crucial. 20k negative equity over 13mo is already $1538/mo

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3

Anticipation Popcorn GIF

4

MSDs not possible on a 13 month.

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5

What is your budget for DAS and payment?

6

If you want a screaming deal get a cheaper car. Rolling 20K into a 13 month lease is dumb. You’re better keeping the existing car.

But then again, LH members will do what the want lol

7

What is the car? Have you shopped it around to multiple dealers and other car buying companies like Vroom, Carvana, etc?

Pease don’t lease/buy another car. Are you able to pay down some of that negative equity?

8

Just to answer a few questions. I guess I don’t blame you for judging me on being in this situation but I am generally a pretty savvy car buyer. The car is a Porsche Panamera that’s too low for me as I’ve developed hip issues since I purchased. Since I bought it, the bottom dropped out of the wholesale market for used cars but this one completely dropped out. I’ve tried all the car buying places, a few dealerships, and compared to the private market and they are all at around the same price, 20k under what I owe.

I’m kind of youngish, too young for hip issues anyway, but developed them regardless, after purchasing. It’s all wear and tear after many years as a semi pro athlete. I don’t want to sell this car, I love it, but here we are.

Wether I can afford to pay 20k in negative equity or not is kind of beside the point. I can, but I have to pay it even if I couldn’t. Again, I am not capable of sitting in this car, and I need a car. My credit and income are both very good so while rolling in 20k is a lot in comparison to the deal, it’s not particularly concerning for me beyond the fact that I’d like to handle it in a not dumb way.

My thought is that rather than paying the negative up front, I roll it into the loan, and try to use the lease
end programs (right now mercedes pays your last 3 payments if you buy another mercedes) to skip some of the high payments and buy a Mercedes in 10 months. Mercedes generally runs this for 3 to 5 month early pay offs.

Again this is my first lease. I’m not sure how rolling in negative equity works on a lease. But if I can just chop up the negative into 13 payments while keeping the same rate (if that can be done), then I’m probably looking at paying 21k over the course of the loan, with 5000 of it payed by Mercedes in 9 Months (I’m 4k ahead). Even if all the negative equity increases the rate a lot, there is still a lot of wiggle room there to pay less than the full 20k. I just feel like Mercedes must be on to this strategy and either doesn’t care or won’t let me due to some fine print.

Is this a viable strategy? If not I’ll handle the negative equity separately.

So my next question is, equity aside, is this a good deal while I wait a year for an EQG to arrive or a custom order EQS?

  • 2023 EQS 450+ SUV
  • 4999 due at signing
  • MSRP of $110,710
  • Lease for $854 including tax
  • $10,000 in Security Deposits
  • 13 Month
  • 8,125 miles
  • $595 vehicle turn-in fee
1 Like
9

Instead of doing a 13 month lease, why not go with a 24 month lease?

10

I guess I could, but the advertised ‘manager’s special’ is 13 months.

The feature here is I am trying to get Mercedes to pay off some of my negative equity on their end of lease program. The higher my payment the more they are paying off, and the less interest is accruing on the negative equity.

11

I can’t recall the last time MBFS did a genuine pull-ahead.

Must have been well before the pandemic. Pull-aheads make sense for the OEM when supply exceeds demand by a lot and having customers churning through leases faster is a way to keep all that production moving. This hasn’t been the case for a long time now and likely won’t be in the foreseeable future.

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12

What is the pre-incentive discount off MSRP? What rebates are included in the deal? What does the DAS cover?

13

Can you actually roll this much neggy eggy into a new lease?

If so, why not focus on cars with subvented MF? iX, C40, etc.

14

I don’t know. I am headed there now to find out.

15

I am not really sure what you mean by subverted. Again, I’m new. Can you help me understand?

16

You should able to find out what incentives you qualify for by going to the Edmunds Forum and posting in the EQS thread.

There is no need for you to go to the dealership in order to obtain this information.

17

Subvented basically means subsidized. It’s another form of financial incentive, it just isn’t as plainly visible as, say, a $1,500 rebate.

1 Like
18

Turo route. Drastic situations require drastic solutions. You may even end up with a money making side business .

2 Likes
19

Maybe they aren’t? In which case it’s good to know if they aren’t legitimate. This is what I am seeing on websites at dealerships around me:

Eligible customers will receive up to three (3) months payment credit on their current maturing lease (A-Class, B-Class, CLA, C-Class, E-Class, EQE-Sedan, CLS, S-Class, EQS-Sedan, SLC/SLK, SL-Class, GT 2-Door/4-Door, GLA, GLB, EQB-SUV, GLC/GLK, GLE/M-Class, EQE-SUV, GLS/GL-Class, EQS SUV) must be through MBFS. Receive up to 3 Loyalty Accelerator Credits when you lease or finance any New 2022, 2023 or 2024 Mercedes-Benz model (Excludes G-Class and Commercial Vans). 2022 models apply to the following: GLC 300W/W4, GLC23W4, SL 65/63. Certain exclusions apply. See dealer for details. Offer expires October 2, 2023.

20

That’s a good idea. I hadn’t thought of that. I’d have to evaluate how much effort that is.