I was wondering if anyone has had a positive experience with negotiating the buy back price for a lease with Mercedes Benz dealerships?
I have a 2019 C300 with a residual value of 29.6K and 12 months left on my lease ($296/month including residualized pre-payment service - total left is 31,905.30). They are currently providing an appraisal value of $35,500 (Carvana is quoting 36.8K).
Is there any wiggle room for this? They are essentially saying that the equation is Appraisal Value - (RV + payments). Have people had any luck in trying to reduce the number of payments they are charging for? Or increasing the total amount they will give back?
Have the dealer buy it from me. Essentially, I’m interested in getting out of my lease so I can get the Q4 E-tron coming out. I figured that given my low RV, I probably could use the market to my advantage so I could get some money out of it.
I don’t know if the dealer is willing to budge, but have you checked with other MB dealers for more appraisals?
BTW, have you heard US Q4 deliveries are being pushed back a few months? I’m in a similar boat with my etron lease that ends in July. I’ll probably need to lease till lease termination before I can pick up a Q4.
The retail payoff figure from MBFS is non-negotiable. The dealer offer is. That being said, if you’re just looking to sell and not buy anything, they probably won’t negotiate their offer much. Your only recourse then is to shop it to other MB dealers, or take the offer and pay anything that may remain to get out.
Being that MBFS doesn’t allow 3rd party buyouts at this point, you’re not likely to get top dollar, unless you find a desperate MB dealer looking for stock. The MB dealer knows that car has to come back to an MB dealer at some point, so there’s no reason for them to overpay as they’re not competing with anyone.
Sounds like he has ~$3,600 positive equity as things stand. Definitely worth shopping around. Start with phone calls/ emails before choosing who is worth visiting in person.
Also get values from other third party buyers just for reference and a small amount of leverage
That I agree with. Not sure he’ll get enough to make it worth his while though to cover taxes, and there is always a risk that values will drop in the few weeks it’ll take to get a title from MB to resell, although the used car market has remained relatively strong.
As a follow up this - after further discussion with the dealership - it looks like they were misquoting me. In reality, the dealer buyout was close to 35400 when including my $3500 in MSDs. Therefore, I only really was receiving a check for $100 and then a return of my $3500 by MBFS.
After reaching out to a few other dealerships, the appraisal value was increased from $35500 to $37500, which would make a net of $2100 for me + return of my security deposit.
I am trying to convince Audi to give me a loaner. Otherwise I may borrow a car from family or I may just wait a few months. I figure that the decreased appraisal value will likely be offset by the decreased number of monthly payments added to my buy out.
When calling and getting a “payoff” during the lease, if payoff is $55k, and car is worth $60k, you should profit $5k from the dealer selling them your current lease correct? Is there anything I am missing logic wise?
Your payoff and the dealership’s payoff may not be the same. Also, there is no fixed number as to what a vehicle is worth. Different places will offer different amounts.
