New to leasing...please help s63 AMG lease

Ask the Hackrs
1

hi guys. i’m hoping you lease gurus can help me on this

I’m self employed for the past 5+ years. My personal gross income is 200k+/yr

My credit is 660. i have 3 credit cards and small school loan. I don’t have an major negatives like judgements etc.

I’ve never really utilized my credit much for personal use. So i have no auto loans or personal mortgages. I’ve always purchased cash. I’ve been told that it looks bad that i’ve never had an auto loan.

I want to lease a 2018 s63 AMG which is somewhere in the 160k range. I know i can afford this car even if it was a 2k/mo payment, but what’s it going to take to get a lease approved?

I have the ability to put money down(30-50k)…would that help me? i just learned about MSD’s which looks interesting.

Looking for any help, insight etc.

2

What has the dealer told you so far?

3

Not answering your credit question but I know we’re they have a 2017 30k off msrp is 180k selling price is 150k black with beige interior

4

I would look into buying a 16-17 CPO car for low 100k range. If you sell in 2-3 years it might cost you less overall. Also do not put any crazy money down other than msd’s if that car is stolen/totaled your money is gone.

5

Yea buying slightly used would be the better choice here. You’ll get hammered on the interest rate with that credit score IMO.

1 Like
6

The mf on the s63amg already sucks with 700+ credit score and the residual is horrible I believe it’s 46% for 36/10

7

I take it you are flipping houses? I think you can bring down the money factor using multiple security deposit

8

Like everyone else has said, I’d suggest buying a used one instead.

9

Yeah any AMG will suck at lease. I say buy a 1-2 year old one, which has taken most of the hit.

10

I would think just by having credit cards and a loan, plus high income the credit score would be higher, unless it’s all cash under the table.

CPO is probably the best choice all around, someone already took a major hit on depreciation and it ain’t you.

11

Why not take it as he’s a male dolphin?

2 Likes
12

Or a huge fan of the protagonist, Flipper, of the eponymous television show.

13

Male dolphins are more into boats.

14

$200k income with a $160k car. No offense but that’s just ridiculous imo.

15

How is it it ridiculous if he leases it lmao say he leases it for $2500 a month that’s 30k in a year that’s 15% of his salary you don’t know his situation kids single lol stop judging people lol

2 Likes
16

He makes $200k gross, so $100k net? Unless again, under the table.

17

200K assuming the standard deduction is 130K+ take home.
If he’s in a tax free state, it’s over 145K, which would be over 12K take home a month.

He could also be deducting a portion of the cost as well. For all we know, he could have a paid for a home with cash and easily afford a 2K+ lease payment while still netting 10K a month.

18

Getting a 100k auto loan would be near impossible for you, maybe 35k with a interest rate of at least 5%. If you want to establish credit and you aren’t leasing, you should get an auto loan of max 20-25k and put the rest down. Let me know if I’m wrong.

19

assuming many things. I’m assuming he is a young stallion who likes to party with hookers and cocaine. Still not worth of getting nailed with Tier 3 credit on a lease.

1 Like
20

I love it when people start telling others how they should be spending their money. He is asking a simple question if you don’t have anything of value to add they don’t need your financial advice. I know plenty of car guys that live a simple life and own exotics since it is their passion and hobby.

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