You do not need to go in person. You can call, email, etc. It sounds like you’re not very experienced with leasing, so your best bet would be to reach out to a broker here, they would get you the best deal with little friction (and you can always compare the deal against what your local dealers are offering).
Just separate the transactions between A. selling your current car and B. buying a new one. The Carvana offer means that your car is worth at least a few hundred $, if not $1000 per vroom (dealers and the like can buy your car at the pre-tax payoff value).
You then need to calculate shipping (i’ve shipped to and from south FL and it’s between $600-1000 from TX, NY, Louisiana, etc.), so GA might be cheaper. Or fly there once you’ve signed (via docusign or mailed documents) and pick it up and drive back like Trism said.
You should compare with $0 down, as it’s easier to do apples to apples between different deals, then if you want to put $ down to bring the monthly down, that’s your choice. Keep in mind their offer is $700 per month with 0 down. Compare to what other people are reporting here / what other brokers here can offer. Also, keep in mind you are paying 50% of the car in 3 years, and ending up with nothing - not a great lease.
Also sounds like you’re way under on miles - for a future one I would recommend taking less miles upfront. Why are you paying extra for prepaid maintenance and tire/wheel plus? You can usually get other insurance products for tires cheaper than with the original dealer (search LH for fidelity plans), and i’m not super familiar with MB, but my BMW came with all basic maintenance included).
Thank you @trism , thank you @Petrem! Yes, I’m very new to leasing. I’ve always bought older used cars and drove them forever, so this is all fresh.
I’ll reach out to a broker on here and see what makes the most sense.
The reason for all the prepaids is that Mercedes did not include any of the service with the vehicle and it was either bake it into the lease or pay for it as I went. Tire and rim was likely me being overly cautious.
When I originally leased this GLB I was driving quite a bit more. I had an unanticipated cross country move that about cut my monthly miles in half, so it definitely would make sense to go with fewer miles should I chose to lease again.
Hi fellow lease hackers! Please help decide whether to buy or return my lease. Below are the details:
I am currently coming to an end on my Mercedes GLB lease and am debating on buying out the car vs. buying a used car or maybe EV and utilize the 7500 federal incentive. My lease ends October 24.
I’ve made a one time payment during the lease signing of $19,000 for the whole duration of the lease (36 months) including pre-paid maintenance and any other add-ons. Residual is $29,295 which does not include the purchase fee of $150 and other taxes.
The adjusted capital cost of the car is $43,041 and the gross capital cost is $42,191.05.
I haven’t yet started the discussions about the lease termination or any other leases with the dealer yet. But have received a mail from the dealer saying I would be getting $2000 incentive if I lease/purchase an Electric vehicle. Current miles on the car is ~ 16k. I drive very less and this is my first time lease ever and I’m pretty new to this.
Not sure if this matters but someone rear-ended my car and its being repaired currently and the repair costs may be close to ~10-15K (its on the other party insurance).
Checked the current value of this car on carvana : $26,271 and on Vroom is : $24,623
Now, I’m debating if its a better deal to buy out the lease or go for another lease (preferably the EQB as its similar to the current vehicle and its electric) or to return it to the dealer (I have to pay restocking fee of $600) and maybe purchase/lease another EV that qualifies for the federal rebate?
Please let me know if any further info is needed. TIA for help!
2020 Audi Q5 Hybrid (55 TFSI e quattro) - coming up on lease end in October. Mileage is 26k
wanted to roll into a new Q5 hybrid - but the new lease terms are crazy at $820-850 per month ?? (my prior lease was $612 pm 36/10k, $0 drive off). MSRP was $58,720 plus I bought the audi care package rolled into monthlies
I requested a payoff quote from Audi FS - and it is $29,800. Just eyeballing used car quotes it seems they are in 34-35k range. Carvana online trade in value today is $28,200. Carmax wont give me an online quote as “it hasnt seen cars like this lately so an in person inspection is required” apparently.
I am supposed to mail them a check and fax some odometer docs (wtf in this day and age) - they cannot handle all this electronically I suppose
Anyways before I do this, wanted to check w ppl here - thinking is buyout this car for at least 1 more year and then re evaluate how lease deals are end of next year
thanks for the reply. Wondering if it makes sense to lease or purchase the EV directly? assuming I wont drive much (mostly 50 miles per day ; excluding any trips ).
TIA for ur time!
I’m still not clear on the pros and cons of buying out my 2021 Tacoma lease vs selling and leasing another one. I’ve loved the truck. My buyout is about $26,500 (plus TX sales tax, I’d assume). Carmax would buy it for about $28,000.
New leases are around $375/month right now, and it looks like financing my current truck would be around $500 month/60 months. Does this just come down to preference - starting over renting a new truck vs financing the old one and building equity in a depreciating asset? Do many people keep their Toyota after the lease or just use the incentives to rent something new?
I’ve never really considered holding on to a lease before but the truck has been great and seems to hold value decently well. It still only has 18k miles.
2020 Audi SQ5 P+. MSRP of $61.5K with ~22K miles on it now. My buy-out is $36.3K and my monthly (with scratch and dent + audicare) is ~$640 / month that was achieved with just drive-offs and MSDs. Trying to decide what i’m going to do here as I’ll have to pay California registration in September and my lease is also up in September…
Option 1 - Buy-out the car. Audicare will get me another year as well as the 50K / 4 yr warranty. After that I’d need to consider extended warranty programs - any thoughts for these german beasts? It looks like best case scenario i’d finance at ~6% and could maintain current monthly payment with a modest down payment. We like the car enough but still have the itch for something different. Residual is below market but if i were to trade-in / sell there is no equity (offers have been $500-$1K less through dealers and Carvana) - kind of crazy with the really low mileage?
Lease a new XC90 - It seems to be the only Euro SUV leasing well right now. I think best case scenario out in Cali we are in the 650-800 / month range depending on if we spring for the recharge. I can rationalize the recharge as more power, space, luxury and efficiency but don’t need a car this big. These #s would also be difficult to achieve out here but could be possible
Extend the lease a few months - See if anything else interesting pops up. Ideal would be an X3 M40i, X5, Mercedes GLC, etc (Mild performance SUV family). But none of these cars lease well and I doubt anything in this class would match our current payment in the next few months? Downside of extending is we’d also be on the hook for a double registration bill when getting into the new car.
If we do #1 - i think we’d extend the lease 6 months and take advantage of the near 0% interest rate / money factor to make the buyout lower without the 6% use car loan rates.
