Mercedes No Longer Restricting Third Party Lease Buyouts

[ElSuperCheapo]

Six months ago, a local Mercedes dealer offered me $5,000 over my lease buyout for my 2020 GLB250. Today, I asked again and they said they have too many 2020 cars and couldn’t make me an offer.

I then called Mercedes Benz financial and asked if they still restrict third party buyouts and they said no. The rep says you can take it to CarMax and sell it to them.

[jeisensc]

Thanks - confirms the update from July 14th

@michael

Lenders that DO NOT Charge a Different Payoff to Third Parties*

• Chrysler Capital - Eastcoastguy 6/15/21 (not within 60 days of lease end)
• Credit Union Leasing of America - RVguy 6/15/21
• Jaguar Land Rover Financial (Chase Bank) - ethanrs 6/15/21
• Lexus Financial Services
• Mazda Capital Services (Chase Bank) - michael 6/15/21
• Mazda Financial Services
• Porsche Financial Services - Rulnick 6/24/21
• Subaru Motors Finance (Chase) - manku 6/18/21
• Toyota Financial Services
• Mercedes-Benz Financial Services - JamesW 7/14/22

Whether or not Carmax will buy them, check the latest version of “the sign”

Sold one to CarMax

@bri0kay - No lease/finance. So the title was in my name. Please give a call to Carmax to see if they can buy the lease from TFS. In Florida, Carmax can’t buy the leases from many companies that included Toyota as well. Carmax list from Florida: [image]

But there are other options

List of places to sell or value your car online

For the quickest results: Copy your VIN to your clipboard and just paste it into each site. Quicker than plate lookup. Enter “I own the vehicle” where applicable — you don’t need to get into the details of your lease payoff or loan balance until you’ve eventually chosen one entity to sell to. Use a Google Voice or some other device you can turn off at will. Otherwise your real phone will be bombarded initially. In alphabetical order: Buyer Name Direct Link Review Link AutoCo…

[jxr006]

would be awesome to hear if carmax beat the residual or passed.

[max_g]

Carmax isn’t a great benchmark of third-party offers IMO.

@jeisensc

But there are other options

Exactly.

[ElSuperCheapo]

CarMax insists that I come in for a quote. I made an appointment for Saturday.
Autonation is about $2k over residual.
Carvana is about $2500 over residual.
ALGO was about $1,000 UNDER residual.

[jeisensc]

You have 6-12 months left on this lease? You want to compare their offers to the payoff, not the residual.

[ElSuperCheapo]

Thanks. That’s what I’m doing I just didn’t want to include too many details.

[TheSmoke09]

@anon65069371 - trying to get into a G wagon, now?

[anon65069371]

you dont want the smoke

[Phantomcypher]

Bmwfs next?

[aronchi]

Just in time for all bmw lease returns to be worthless

[AutoNinjas]

As an update to this thread

In MB Leases there is a special section now that juices everyones payoff by 4% (more or less) reads as follows

"21b.) Purchase Option → Before Scheduled Termination

"1.) Standard lease - Early Purchase Option Price - If this is a standard lease as indicated on page 1 of the lease, the early purchase option price is the sum of a.) any lease payments or other amounts due under the lease at the time of termination plus all fees and taxes assessed on or billed in connection with this lease or the vehicle, plus an amount equal to the vehicle turn-in fee, plus the adjusted lease balance, plus 4% of the adjusted lease balance."

So looks like MB will be applying a premium of 4% of remaining payments (net of interest) plus dispo to all buyouts moving forward, which is especially punitive to people selling their lease very close to when they bought it (esp for the G-Wagon lessee’s). Another example of why finance can be a better route on these.

[aronchi]

this has been there for a long time.

[anon65069371]

they dont want those EQS flipped

[capt_slow]

Signed on April 27 2023, my MBFS lease contract doesnt have the 4% verbiage.

The footer of my contract has the MBFS contract form number EC-001-5040 CA (02/23). I guess non-CA leases have the 4%?

[j_e_f_f]

Yea AFAIK the 4% penalty depends on the state.

My MBFS lease signed in December 2020 in Illinois certainly has it.

[sdkimchi]

Does Mercedes have a restriction on third-party lease buyouts?

https://www.keyesmercedes.com/does-mercedes-benz-allow-third-party-lease-buyouts/

[aronchi]

it doesnt.

[sdkimchi]

Thanks! How about in the final months of the lease?

[aronchi]

i havent had an issue w them. call MBFS.