Mercedes Benz question

[austiabrm57]

Good afternoon everyone:

My 2015 S550 lease is coming to an end. In 4 years, I have driven about 20K miles and the car was trouble free. Also, my lease payments were only $1150+tax (no down) and I understand that it would be impossible to do another lease for that kind of money. I'm thinking about buying it at the end of the lease term. Couple of questions:

1. Do you think it's a good idea?
2. What's the best way to acquire a warranty for the next 4 years or so?

Thank you and have a good day.

 

[Srdl]

You know the car and it’s history so you will never be able to get another one that good without buying new. I would keep it for another four years but then I usually keep my car for around eight years anyway.

Mercedes do an extended warranty. It will be costly because there are some expensive things to go wrong on your car but gives you peace of mind. But buy it before your current warranty expires otherwise it can cost more.

Welcome to the forum

 

[A.J.]

Maybe ask the Leasing Company for a Peppercorn rental rather that emptying your pocket book ?? Could work out quite cheap. Welcome to the forum by the way

 

[John Laidlaw]

Welcome, the fact you mention S550 and $ leads me to think you may be the other side of the pond?
On the warranty issue therefore you'd have to seek local advice...
On keeping it- definitely 100% if you can. Again local advice is needed whether you can actually buy the car. Over here nowadays it's nigh on impossible on either a personal or company lease.....

 

[MBDevotee]

You can extend the lease (probably not for 4 yrs mind) but I am not sure where you live.

In the UK the person who has taken out a contract hire agreement CANNOT buy the car at the end (tax reasons). In theory their Wife / Dad / Mum could although in practice they won't sell to anyone from the same address.

What kind of Lease did you have? Was it lease hire, lease purchase, contract hire, personal contract hire or PCP?

 

[MBDevotee]

As said above, many leasing companies won't sell to a private individual for warranty reasons

 

[A.J.]

As said above, many leasing companies won't sell to a private individual for warranty reasons

And legal reasons

 

[MBDevotee]

Legally they could (although not the original contract holder) but as they would be technically selling it in the course of their business, they would become a dealer and there would be an implied warranty and so on - most of them either auction, or more common now, is have an outlet somewhere who buy all their returns, retail the good ones and auction off the rubbish.

 

[A.J.]

Legally they could (although not the original contract holder) but as they would be technically selling it in the course of their business, they would become a dealer and there would be an implied warranty and so on - most of them either auction, or more common now, is have an outlet somewhere who buy all their returns, retail the good ones and auction off the rubbish.

Yes, I did mean it is illegal to sell the hired vehicle to the hirer. I spent 40+ years in the Vehicle Contract Hire industry s a Fleet Disposals Manager. I am sure that many of them did get back into the hirers ownership via a third party, but we couldn't be found to be selling them direct.

 

[A.J.]

Legally they could (although not the original contract holder) but as they would be technically selling it in the course of their business, they would become a dealer and there would be an implied warranty and so on - most of them either auction, or more common now, is have an outlet somewhere who buy all their returns, retail the good ones and auction off the rubbish.

My prefered disposal method was Auctions. You were assured of the best price on the day, plus it was clean, no backhanders involved. Once you compromised yourself you were unable to achieve the maximum sales prices.

Traders who attended Auctions were there to buy cars and we were there to sell cars. We were a part of what was then the third largest dealership group in the UK, but they had to compete to buy the same as anyone else. I didn't particularly like dealing direct with dealers because it was too time consuming and you were exposed to being offered a 'drink' which always upset the dealer if you declined their 'generous' offer, that was just a no no. Once you were caught you were finished.

 

[MBDevotee]

Yep, we've stopped using traders. Its horrible as good old cars can fetch way more that way, but the temptations are too high. Sales Managers standing used stock in too low and then buying it themselves or via a trader, traders giving backhanders, it all goes on....

 

[A.J.]

Yep, we've stopped using traders. Its horrible as good old cars can fetch way more that way, but the temptations are too high. Sales Managers standing used stock in too low and then buying it themselves or via a trader, traders giving backhanders, it all goes on....

'Good old cars' still made good money at Auctions

 

[MBDevotee]

Not so much anymore - something that make £200 at auction you could often have got £600-700 from a trader.

 

[A.J.]

Not so much anymore - something that make £200 at auction you could often have got £600-700 from a trader.

The important thing about using Auctions is that you are selling in a competitive arena and as long as you have agreed a good commision rate it is undoubtedly the most efficient disposal method

 

[MBDevotee]

We have yes.

I know the reasons, just a shame we can't get any nice P/X's any more!

 

[austiabrm57]

Good afternoon everyone:

My 2015 S550 lease is coming to an end. In 4 years, I have driven about 20K miles and the car was trouble free. Also, my lease payments were only $1150+tax (no down) and I understand that it would be impossible to do another lease for that kind of money. I'm thinking about buying it at the end of the lease term. Couple of questions:

1. Do you think it's a good idea?
2. What's the best way to acquire a warranty for the next 4 years or so?

Thank you and have a good day. routerlogin

isssue got solved!!

 

[Ron240]

isssue got solved!!

It was nice of you to give a quick explanation as to how the isssue was solved...particularly after all the posts trying to help you.

I found myself here by searching your previous 2 posts from a total of 3, after you asked another question which I answered.

P.S. I hope you understand sarcasm.

 

[Jim2]

It was nice of you to give a quick explanation as to how the isssue was solved...particularly after all the posts trying to help you.

I found myself here by searching your previous 2 posts from a total of 3, after you asked another question which I answered.

P.S. I hope you understand sarcasm.

Plus it could solve a similar problem for other members...unless of course, it was via some of the "questionable "methods outlined..