Takeover my lease?

[chrisbo]

Sorry - posted this in the wrong area initially!

I could really do with some help. I have had my CLS 320cdi for the last 11 months but during that time have had twin girls!! The car would have been fantastic for one baby but two have really put a strain on boot space. I lease the car and early termination is over £9000 which really isn't a good idea. As such, i am looking for someone to take over the last 13 months of my lease. Mercedes only want £75+vat to transfer it but the new owner would be subject to a credit check.

Anybody know anyone or got any ideas?

Thanks

 

[steve.link]

How much are the payments?

What is the spec of the car?

 

[chrisbo]

It is a pretty standard spec - it has black leather and parking sensors front and rear additionally. The car itself is silver. Payments are 536 a month including vat. Additionally there is a transfer fee of £75+vat to Mercedes. Its a bargain for someone!!

 

[Speedmaster]

Does the car have command?

 

[chrisbo]

Sorry to say it doesn't - added an enormous amount to the lease cost

 

[izzi613]

Sorry to say it doesn't - added an enormous amount to the lease cost

Thats daft as it would have added a couple of grand to the purchase cost half of which would have been recouped on resale. so over the period of the lease they would have had to recoup £1000 plus interest etc... depending on the length of the agreement this should have added around £50 odd a month!? IMO they do not look right without comand, it's like a w211 e class without leather.

 

[chrisbo]

I'll be honest - I was already over budget and a 10% increase just wasn't going to happen. Appreciate what you are saying though - would have been nice

 

[izzi613]

No offence Chrisbo, the daft comment was to MB as they will have trouble selling it on.

 

[chrisbo]

weirdly, they never seem bothered about that. Even on a pcp extras seem to count for very little!!!

 

[Rory]

That's definitely where you lose out with a car like a Merc in the company car, and in the private lease and PCP, markets.
The basic figures don't look too bad, but then you add COMAND, leather, elec seats, Parktronic, etc etc and you can be adding another couple of hundred a month. They seem to want to recover the full option cost over the hire period.

 

[hawk20]

weirdly, they never seem bothered about that. Even on a pcp extras seem to count for very little!!!

I agree. I've had Mercs with and without COMAND and with and without leather and never found it makes much difference, when you come to sell.

Chrisbo, when saying this lease is a bargain for someone -and given that you lose a packet if you cash-up early, how much do you plan to knock off for somone taking the lease on. And is it much cheaper than current leases?

How much deposit was paid and what are you planning to ask for that?

 

[hawk20]

Some things do not quite make sense here. Let's get down to brass tacks: -
What kind of lease is it. Is it PCP where you can walk away at the end of the lease or pay an agreed sum to own the car? If so what is the agreed sum?

Your lease payment over 13 months is only £6,968 (£536 per month inc vat for 13 months). You say all you want is someone to take over the lease and make these payments. Would they then own the car or have some sort of balloon to pay?

Or is it some kind of contract hire where you pay £x per month to use the car and just give it back at the end?

 

[hawk20]

How can the early repayment figure be £9000 when the sum of the payments to completion is under £7000. Doesn't make sense does it?

Don't forget the 'other' website. Might be someone. But try and give more details. http://mbclub.co.uk/forums/index.php
Good luck. And congrats on the twins.

 

[chrisbo]

To clarify - it is a personal contract lease. In other words, you pay the money for the next 13 months and at the end of that you give the car back. There is no option to buy.

In terms of the original structure, it was on a 3+23 deal which means I had to pay 3 months in advance (as well as an additional £600 for sensors.) I am not looking to recoup any of this money and this is where it becomes a bargain for someone.

If you do a quick internet search, the best personal contract hires are 3+23 for around £586 a month but that is without parking sensors and you have to pay an additional £1150 for deposit!

Hope that clears it all up

 

[chrisbo]

Thanks Hawk20 - twins are a lot of fun(!). I spoke to Mercedes and they agreed that the figure was to high - got it reduced to £6620 but still too pricey for me just to give the car back!

 

[hawk20]

To clarify - it is a personal contract lease. In other words, you pay the money for the next 13 months and at the end of that you give the car back. There is no option to buy.

In terms of the original structure, it was on a 3+23 deal which means I had to pay 3 months in advance (as well as an additional £600 for sensors.) I am not looking to recoup any of this money and this is where it becomes a bargain for someone.

If you do a quick internet search, the best personal contract hires are 3+23 for around £586 a month but that is without parking sensors and you have to pay an additional £1150 for deposit!

Hope that clears it all up

Yes, that is very clear. Thanks very much. Quite a good way of running a car. At least you know what it really costs. Shame that it is so hard to change your mind.

 

[chrisbo]

not wrong - shame you don't know if you are having one baby or 2 before 12 weeks as well!!!

 

[hawk20]

not wrong - shame you don't know if you are having one baby or 2 before 12 weeks as well!!!

Dear God, Please send me a sign as it affects what car I buy!

How true. So much junk, Carrycots, toys, pots. You need an ML for all that. What are you planning to get?

 

[chrisbo]

S-max!! R Class if they collapse in value!

 

[hawk20]

S-max!! R Class if they collapse in value!

Great bargains around at the moment like £9k off a new R class.