This is the important question.
Did you get multiple quotes to actually establish the value or is this a dealer thats going to benefit from you turning it in so they can sell it feeding you a line?
It’s a sport s hardtop. A local CDJR told me this. I have requested quotes through Equityhackr
Don’t stop there.
Well that’s practically impossible to achieve at the payments from 3 years ago so keep that in mind before you do anything such as sell or return it.
Only extend if the residual goes down too.
How many months does MBFS allow you to extend?
I believe it’s up to 12 months. But again she’s already over milage by 5k so she would have to write them a check at the end which would be another 10-15k miles @.25 a mile.
So someone that would very much benefit from you turning it in to them.
Youll want to get several price estimates from someone that would actually cut you a check.
You have a some amount of equity based on wholesale values. Do yourself a favor and don’t go back to that CDJR. Get multiple quotes like myself and others have suggested.
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New GLC is coming soon so they are pricing in a big drop in residual on the previous model. Makes no sense to do anything other than carry your lease to term and turn it in. Pay the excess mileage, unless they will waive it when you go to lease something else.
Check with your MB dealer about an incoming redesigned GLC, maybe you can extend your lease a couple months and get one of redesigned models.
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Why would I carry it to end if carvana will take me out now and pay me to do so instead of paying MB for the overage in 2 months?
Where are you located?
Phoenix, AZ
Will carvana buy a Mercedes lease?
Yes they will.
I would sell it to Carvana as soon as possible for being so close to the end and they are paying over market.
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That’s the plan at this point…they are scheduled to pick up on Friday.
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I would just follow up with MBFS after they pick up the car to make sure the loan gets paid off. Considering Carvana’s financial position right now.
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Hello,
My Kia Sportage SUV 2020 lease is ending in June 2023.
Residual value is 18000 and monthly payment is $299
I am debating extending the lease vs. sell less and lease new EV / PHEV SUV ( do not qualify for with tax credits due to not meeting AGI limits . Hence want to lease or finance). I am okay to make monthly lease payments upto 600 USD or so/
Looking for suggestions from this community.
- Do I just extend my lease and look for better deals in 2024?
- Do I sell my lease and pocket some equity? That means I need to get a PHEV or EV SUV at higher monthly price . What would be a good deal to look into?
New to this so looking for advice. Appreciate your feedback
Alrighty people - my lease is reaching maturity. Here are the deets:
- 2020 BMW 330i - payed $414/mo for 36mo’s (paid ~$15,000 over 3 years)
Lease Buyout: $27,500
Carmax Vehicle Value Estimate: $28,600 (has M-package)
I have max MSD’s when I leased ($3,150 held in deposit - can be applied to Buyout)
Worth buying out and searching for a low APR (aiming for 2-4%)?
Would appreciate some guidance from experts here!
EDIT: 13,200 mileage!
How many miles, that’s important in a BMW
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Decent value, the market value is about 29K to 32K.