Girlfriend has a Mercedes Benz lease – there’s currently 12 months remaining on it. We called MB Financial Services this evening to get the 10 day lease payoff quote (approx. $6300 – includes remaining monthly payments, property taxes, and vehicle acquisition fee of $595). She plans to keep the lease for the remaining 12 months – the rep told her she could continue using the vehicle, even if she pays off the lease early. However, let’s say she turned in the vehicle early (1, 2, 4, 5, 6 months, whatever), would she be charged with an early termination fee, even though she fully satisfied the financial obligations of the lease?
It’s an '18 C300…former loaner vehicle from the MB dealership she got it from, had 4000 miles on it at the time…the sticker lease price was about 289 per month with $3,500 down, plus applicable taxes and fees. Cap Cost was about 38,000 dollars, RV is about 26,500.
It’s going to cost her the remaining payments regardless so not many reasons to turn in early. You can get you payoff/buyout quote and see if the vehicle is worth more than that (the. Sell it now). Check carvana, vroom…
Ok that’s not a ‘10 day lease payoff’ of $6300
Though the Disposition (Not Acquisition) fee can’t be paid early as it’s part of a much later statement.
Returning the car Early ( > 90 days) changes the whole game as it goes to Auction and the RV is recalculated at that point. I don’t know how well a Merc can hold value but sometimes you can get stung the wrong way.
If you plan to turn in early , see if you can buy it out and sell it to Carmax. (Though that has headaches in itself).
