New to the idea of leasing but we think it suits our needs atm but could use advice from the experts as we are on an express timeline. Took our high miles ML350 in for service and it’s finally hit the point of a 7k+ repair. We weren’t planning to buy any time soon, it’s a secondary car, so in this case we think leasing is the right move to kick the proverbial can down the road while enjoying modern features etc on perhaps a GLE. Probably looking at 36, 12k. Here’s where I need help. They have our car. We can get 4-5k in trade depending if we buy or lease there. I don’t want to burn that money in on money down, but don’t understand what the difference is on a security deposit. Any advice how to manage to negotiate this the right way given that wrinkle? I have the option to drive it out and might do that if I don’t like what we see in the offer, but I’m crash coursing to figure out how to best evaluate. Any advice on really ANYTHING is appreciated!!! Also wondering if we can get them to waive the work they already did (btw, they could have alerted me to the 7k part before they did the scheduled maintenance…)
If you’re interested in leasing, a GLE is probably not the best choice. They tend to be very poor lease values.
Almost positive that they will try to screw you for your trade. They have the upper hand in this situation because (i) they have your car, even if it’s your second car and (ii) you’re already looking at new cars and soliciting offers from them.
Do you need a new GLE or do you just want the GLE b/c of the ML? Could you do with an EQE or EQS, or perhaps another smaller/cheaper car since it’s your second car?
Security deposit in simple terms is money you use to buy down the rate, but you get the money back at the end of your lease.
- Start by deciding what you need and how soon you need it. I don’t know the extent of your current use of your ML or how big of a car you need.
- Start reading up on leases and learning about how they work. You don’t have to stick with MB.
- LH has a lot of different brokers based in your area or that work with your area, you can reach out to them for deals they have posted if you do not want to go through that hassle yourself (THEY CHARGE A FEE.)
- If you work out offers from dealers, use the calculator and post your offers and the LH community will give you feedback.
How many miles is this? What’s the $7k repair for? Have you checked the indie price?
This is really helpful, thank you. I’m at least prepared for them to try to screw me so I’m going to try to get them to remove that car from the equation at least initially. And I hear you on the GLE, RV is probably not ideal but it fits our size requirements with a city garage, we like Mercedes, and the much better X5 (personal opinion) to me and my wife is unappealing on the outside (shallow, I know). Not that the GLE is anything super special to look at, to be fair. I do notice the EQ’s flying in this forum and imagine that’s RV related, so maybe we need to be open. The idea would be to take primary car (Grand Cherokee) and make that secondary car. This gives me a lot to think about so appreciate the response. I like the dealer they’ve always been great in comping things like inspections and little things here and there so want to give them a shot. Anything outside of a unicorn offer though I might pull back and shop
102k, it’s a 2011. It’s for corroding break lines and a broken spring or coil. Been a great car but we leave it parked outside in poor weather so it’s a lesson learned perhaps
Based on research they’ve seem to have fallen a bit short with this one compared to Lexus and BMW. Too bad, we’ve enjoyed our Mercedes it’s been a good car and the service is always good
$7,000 for that?
Tow your car to an Indy and block their number.
JFC.
You will get absolutely destroyed on both the trade and the new car at this place.
Quoted 5k for the brake lines, 1k for both springs, and then the rest for service. And they can only destroy me if I let them. Im not doing the repairs with them, it still drives fine
How much do you want to spend to replace your beater? Let’s be honest that’s what it was.
Find an indy. Call a tow truck.
I’m sure I’ll end up driving it out of there. Will at least see what they offer and report back, for the education if anything.
EQS and several other EV’s right now have stupid incentive money which is why you see them so often in this forum for the time being. For example, the EQS at 24 months with 10k miles/yr is at 60% residual and it has $7,500 rebate passed through mercedes and a 11k rebate through american express simply for being a card holder. Both rebates stack on top of any dealer discounts you can get which make a great deal.
I would take the advice to not drive it out and rather tow it to an indie. Don’t want to cause more damage or break more things.
Don’t, with your “feet to the fire” you might get talked into signing something
Half the industry revolves around this kind of psychological manipulation
Yeah… If you’re going to do it for the education, make sure you can stay firm on your “no” if you don’t want to accept the offer or do it from home without going in.
If you want the education, start here: READ ME FIRST: Getting Started With Leasehackr Forum
What kind of brake lines do they use? Is it made of gold? Seriously, I thought it’s more serious than that. Personally, I will go to indie, change that brake lines, replace the springs and either sell it personally or keep it for a while. YMMV.
You’ll blow through $7,000 in (effective) lease payments on a GLE in 5 or 6 months.
Your repair should buy you more time than that.
Your feet aren’t to the fire at all! You need a little work on your secondary car. Ask some friends, make some calls, and get it towed to an independent shop. Then, start researching, test driving, and reviewing broker deals here. You have a minor problem, don’t turn it into a huge loss.
Google Mercedes specialist in your area. Then tow it there. 102k is not super high. I’m approaching that on my 2019 XC90. I never use the dealer unless it’s a warranty thing. It goes to a Volvo specialist and he has saved me thousands. Try that before caving into a new car.
OP has indicated he can drive car out. Will just have to pay for the maintenance done. But he should definitely go to local MB independent shop for 2nd opinion and quote before doing anything!