Why I Did NOT Lease My Mercedes
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- เผยแพร่เมื่อ 23 ก.ย. 2024
- Why I Did NOT Lease My Mercedes
Should you lease your next car or your next Mercedes? Or should you buy it outright or finance the luxury car instead? You'll hear many dealers talk about how this can be a great option for you, but I think you're wasting a pile of money. Yes, there are situations where a lease might make sense for some people, but most of the time, you're overspending your money on a luxury car.
So what should you do instead of #lease your next #luxury #car? Well, watch and find out.
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ONLY lease a NEW car.
ALWAYS "BUY" (or finance) a slightly 2 or 3 year old car.
ALWAYS PAY CASH for ANY car older than 7 years.
Great decision!
Great channel !!
I’m not a huge fan of leasing, but if you go $0 down and your monthly payment is about 1% of the car’s MSRP, you can probably do okay, especially if the lease buyout terms are attractive. But personally, I’d rather just buy something fun that’s taken that depreciation hit already.
If you want to pay cash, keep the cash and finance it. Then turn around and pay it off. Problem solved.
i know Im randomly asking but does any of you know of a trick to get back into an instagram account..?
I stupidly lost the password. I would love any tips you can offer me!
@Diego Bruno Instablaster =)
@@Jaedeok82 when you finance, they charge you a financing fee... unless you made them waive that fee, financing fee is 500 ~700
@@tbvjqor123 and some will also have an early repayment penalty too ...
That's exactly what im doing
I always pay 1/4th of my car's sales price as down-payment and finance the rest to reduce monthly car payments.
Leases never seemed to be a good deal for me because of the part about $3,000 due at signing to get whatever the deal is. I'm quite sure you don't get that back.
If you’re going to lease you should never buy a brand brand new one or put any money down. Look for a demo or an executive car, something that’s got 5,000 miles and been on the lot 60-90 days. You can lnegotiate to pay 1% of MSRP as your monthly, they want to get that car off the lot. That money down also does nothing to lower your monthly payment at all, and all that is pure profit for the dealership
I recently got a lease quote from a local Mercedes-Benz dealer. I asked about the money factor and was told .0022, which is equal to 5.28% APR! A lousy deal! The same dealer offers 1.99% APR for purchasing. Because money factor is technically not an interest rate, dealers are not legally required to disclose the information (in the US). I'm sure a lot of people are talked into leasing because the dealers make it seem so doable by showing low monthly rates. Another great video, Mark!
Reasons I like leasing...
1. Every 3-4 years I can be in a new car.
2. When I did purchase cars I always ended up getting rid of them between 3-4 years.
3. It’s nice not having to worry about if something happens to it will I be stuck with a lemon.
4. I write off a lot of my expenses on the car during tax season.
5. I’m a real estate agent as well so it’s nice always having a fresh car to ride clients around in.
Long story short if you like being in a new car every 3-4 years and you don’t really care about owning the car for more than that then leasing is for you. I would only purchase another car if I know for a fact that I plan on keeping it for a very long time. Other than that I just budget out $1500 or less a month for the rest of my life to drive whatever car I want. Not really throwing away money if you can afford it and it’s something you enjoy.
hi is it possible to write off the expense on the car when it is financing? my wife just became a real estate broker, we want to know more about this.
@@jayzhang14 yes you can. As long as she’s using the car as transportation for clients. You can write off gas expenses as well.
ok understand. So is it better financing or all cash when it comes to the tax thing?
*Money Pit!* 💰 💸 💎💳💰💷🕳️
This is what i am thinking exactly!!!
It really doesn't matter. Buy or lease, they are still a liability. Meaning you always have to pay to maintain, fuel and/or finance them. Concentrate on creating, buying or controlling assets that makes passive income first. Once you have enough of them, you can buy anything you want. It's really that simple.
You bet. I agree. So e also say that a house is a great asset and I own real estate myself but if you figure repairs and upkeep as well as mortgage interest, they are not the investment that is initially assumed. Either way it’s all about no regrets.
That's why you "shift" the liability somewhat by having good insurance.
@@Mark-nova forgot you can do that. They always try to sell me windshield insurance but I always pass.
Good morning Mark, great advice, you told the truth that some people don't realize, stay safe my friend 😎
Good morning Scott, thanks a lot for dropping a line as well. Have an awesome day.
Buying or leasing a luxury vehicle makes little financial sense, but some folks just enjoy the experience. More power to them, they’re car guys who can afford it. Not everyone wants to be the richest man in the cemetery. I’m too old to cast judgement on how people spend their money. I have my own expensive hobbies and no regrets.
I totally agree Bryan and for car people line me, life’s too short to drive boring cars so there should be no regrets.
I hate buying new cars. I've had my Land Rover for 20 years and a Toyota for one ten years. But things have really changed. Repairs are more expensive and they take longer. Car rentals are double what they were before the Pandemic in Michigan. So I'm going with a lease. I don't want to think about a car too much. I just want convenience and I'm willing to pay for it.
Nah bro. You keep doing your research. Good for you. But, I’m gonna keep leasing. Whether I’m financing or leasing I only keep the car for at most four years then I get rid of it and get a new one. Might as well lease and get much lower monthly payments not to mention a new car every four years. Besides, Who wants to keep an old car with old tech and mechanical problems. It’s almost guaranteed after four years or five years the car will have mechanical problems. And buying used is just foolish. Dealer buys the car at auction for $2000 and sells it on the lot at 8 to 10,000. Huge commission for the car salesman. No thanks. I pay $211 a month lease for a Volkswagen Jetta with 0 down payment. I can’t afford, nor do I need a Mercedes.
If you get a new car that often, then leasing is the smart move. Many of us drive cars for 10 years+. You have spent much more than I have over the past 20 years. In 20 years of driving I have only had car payments for about 8 of them.
In 20 years you would have paid around $60k to lease your vehicles. I have paid less than $30k to buy 2 used cars that were very reliable.
If you have the $$ go ahead and lease. If you’re like me and luxury doesn’t matter, buy.
As Dave Ramsey would say “Never get a fleece”
I have to completely disagree i've had the opposite experience leasing MBZ in America.. I believe there are different leasing laws depending on what country and area you live in. In America my lease experience with MBZ financial was stellar! The absolute best lease experience ive ever had. Did a 3 year 36,000 mile lease my only cost on the car was the lease payment, gas, insurance, and tires since i drifted the car at will mbz also did all maintenance including oil changes on their dime. Zero cost down to lease and zero costs due on return. I beat on that car everyday for 3 years just kept it looking clean. On return, a claims person came to my home looked over the car didn't deduct anything. No rock chips, small dents, short scratches, if fact the whole underside of the front spoiler was ground down, zero off because the rep said you can't see it from several feet away! Score! MBZ got back a very worn out car if i would have kepted it out of warranty endless money pit that i would have been upside down in, financially speaking. However i did just purchase a brand new BMW M2 Comp with a stick because I'm going to keep it forever🍻
Great comment and thanks for sharing. There are always different exceptions to all situations but great choice on the M2 that car is insane in a great way.
There are bad leases and bad purchases. You still need a good deal and don’t put a lot down on a lease. That defeats the benefit of a lease - keeping more of your money invested rather than sunk in a depreciating asset like a car.
Purchasing is only cheaper if you keep a car for 9+ years. Don’t forget to include the cost of maintenance, tires, repairs over the term that you will have it. That $10,000 you put down on a purchase might be worth $200,000 invested by the time you retire.
A car is a waste of money anyway you look at it. Buy used and keep until it falls apart if expense is all that you care about.
I remember asking a sales boy about leasing. He got all excited and said if his mom were looking for a vehicle he'd suggest she did that. I asked him about penalties resulting in any knicks, damage or anything that would be different than the condition I got it in... Claimed it would all be totally fine and again, that it was better than financing.
I have written off that dealership entirely lol.
Finding a somewhat low mile S550 with a original msrp of 120k is only 56k CPO. I’ll add the extra CPO warranty and I think this is a great deal.
Absolutely sounds like a good piece of mind
Imagine taking a mortgage to buy a house that was guaranteed to depreciate by 30% in a year or so.
Sadly that happens in some markets and unfortunately it happens with cars as wear and tear reduce the desirability of owning newer tech and performance end of making older cars obsolete.
That’s why you buy it right! 7 to 8 year old car they stay steady price it don’t go down
Good video Mark and I have a similar mind set to you. I enjoy owning and driving my cars for a long time, I still have my 2006 E90 (purchased new 15 years ago!)and still enjoy driving it every day, however I am ready for a change (life is too short) and ordered an M340i with the exact options that I want. I can't justify having 2 cars so the E90 has been sold to someone that is passionate about BMW's and appreciates the driving experience. Stay safe.
Great choice Bob you will enjoy the 340 as it is a fantastic car. Great choice.
@@ECPP Thanks Mark, I will keep you posted when my car arrives
@@ECPP Hi Mark, I got my M340i 3 weeks ago and I love it. Compared to my 2006 330i, it is more planted, composed and powerful with no turbo lag. While there is a lot more tech, it makes the overall driving experience a new kind of fun. Sure the steering has changed but I have grown/changed a lot in 15 years(like BMW) and the M340i is perfect for me. BTW, keep up the great work, I enjoy your sincere and honest videos, no BS or phony enthusiasm like so many other channels. Hope the family is well
One other point about leasing, there's no incentive to customize your car to make it your own. Add a spoiler, install a different infotainment or sound system, tinting the windows, etc. And I certainly can't add fancy special film coat on a car to give it that extra special look to fit my personality. And I also would feel nervous if my kids throw up or spill food in a leased car. Good luck getting that stain or smell out from the seats.
Great information, touched on a huge array of questions and answers! You helped me make the "smart" choices, And pros and cons of leasing! Thank you!
You are very welcome Darcy. Hope you have a great week
BMW X5 headlights replacement costs $4k !!
Whoa that’s significant
similarly Benz headlights... need to be coded to each individual car with a live Xentry terminal.
Can't change your own LED light bulb anymore... How is that for a captive market ? 🤭
If you drive a new X5 it has a great warranty and you have well over 4k to pay for it and you won't blink lol
Luxury cars can suck in a lot of money in maintenance. I have already spent close to 5000 on my 2016 mercedes this year just doing usual stuff like servicing, tire and break changes. It usually takes around 1000-1500 per year in maintenance in a normal year. I would not recommend owning them beyond warranty and paid maintenance. I would also not recommend them to be your daily drive. Use a second car and balance out the miles. With the new tech being added its going to get significantly more expensive to own them after warranty.
Cheers
Excellent advice! I am trying to decide now between these options now. I was wondering why all the extra incentives were on a lease option.
Really helpful info thank you. I’m now a subscriber! 👍
Thank you very much Michael, much appreciated for your comment and Welcome to the channel. Cheers.
last week on every month is the best time to purchase or lease cause the salespeople work on a wheel..a wheel is the units sold per month and it reflects your pay checks
Cheers
Leasing makes sense if you don't drive much or great distances. While Mercedes often hold their value better, vehicles writ large aren't investments. If you want to buy and drive the car into the ground, buy/finance, otherwise, leasing may make more sense. Not everyone has the same needs when it comes to transportation.
The lease use to protect you from massive depreciation, since the bank owns it at whatever the value is in the end but with the car market over the last year you could by the cheapest econobox car and it went up in value. If you lease a decent car in the last year you leased yourself out of thousands in equity of the vehicle.
Buying used,I would always avoid a lease car just as I would a company car. Someone leasing has no ownership so they want most out of the car for their money, not caring about it. A quality car can hide a lot of abuse and a good valetor can make it look immaculate, but the problems are waiting to show up for the new owner. Far better to find an older, privately owned one which has been cherished and maintained by someone who could afford to look after it properly. I've had faultless ownership of the ones I've had, but always had services and work done by independent specialists, who know the cars inside out and charge less than half the hourly rate of a main dealer.
I have never financed a car let alone leased one for exactly all these reasons.
I buy a hopefully reliable car at around 3 to 5 years old and look after it with regular servicing etc, if it's a good one I'll keep it till it's not viable and then get another one.
I've had 2 cars that I got rid of at 15 years old ( VW golf TDI ).
The younger generation dont get it though and think I'm mad, that is until they look at exactly how much they pay for their cars by leasing over the same time period.
I crunched all of the numbers and compared buying the car outright with cash, a loan and a novated lease through work. I was way better off with a lease. I took into account the bank interest that I would be losing if I were to invest the money that it would cost me purchasing the vehicle with cash. The Australian Govt has an incentive at the moment for anyone looking at purchasing an EV or PHEV whereby your employer does not pay FBT on car or expenses. This makes EVs and PHEVs way cheaper than regular ICE vehicles. So for me even though I have always paid cash for my cars, I am for the first time going to lease a vehicle for 5 years. I plan on paying the balloon payment at the end of the term and keeping the car and I am still ahead.
I leased a subaru and had equity in 2 years. But will be the last time I lease a car. Not that much difference from financing but insurance increases a lot with a lease.
I love Audis and I usually buy them after they come off a lease and the price has really dropped, except these days used car prices are insane, might as well buy it new and keep it till the wheels fall off!
Nice
Never buy or least a Mercedes brand new....buy it used so you can avoid the biggest depreciation hits!!!!
“ We buy things we don’t need with money we don’t have to impress people we don’t like” - Dave Ramsey
Unless someone else is paying the bill, leasing is not a good idea. If you lease a car because it’s designed “break down” after three years, you’re buying the wrong car.
Tons of helpful advice all in just one video, thank you very much.
Thank you very much
Im getting hooked on these vids, and I used to sell cars lol. "Leasing gives you 3 great buying options." 🤣🤣🤣 i ll never forget that strategy.
Thank you very much for watching. Yes there are several buying options to make it easy for the consumer. Have a great weekend
If you're trying to save money, you shouldn't be looking at these cars. I lease because I really like a new car every 3 years. There's no cheaper way than leasing. Cars are depreciating asset, with exception to very few cars that actually appreciate. Also, you can still negotiate leases, you're not forced to take a set monthly payment or anything. A lot of people have issues because they cannot afford even to lease a car. I don't want to own a car, it gets old and boring.
Another awesome video, Mark!! Always appreciate your point of view....Happy Holidays God bless
Thank you very much Drew and wishing a great holiday season to you and yours as well. Cheers
Always tempted to buy a lightly used 2-3 year old Mercedes, but like you said, I'm one of those scared off by the reliability and the cost of repair even if CPO covers the big ticket items. Also, even "Excellent" used car interest rates from banks are currently hovering around 2.9% for 48-60 month loans, anyway to beat that without getting a personal line of credit?
Same, I love the C Class coupe but Im afraid of the long term repair costs.
Mark: I know you heavily research engine reliability and durability on most of the cars you have owned. So rather surprising to me that you went with the 4 cylinder direct injection turbo motor here. Just spent some time on the MB forums and read horror stories on these (cracked pistons, wrist pin pin issues, etc.). Your thoughts? Always learn something useful from your videos.
He probably could afford any problems that might arise where it doesn't bother him paying the price for repairs
Investing in different streams of income that don't depend on the government to bring in money especially now the pandemic is hitting the economy pretty hard will be the wisest decision anyone can make.
Wise words you have spoken, I totally agree with you.
People make the mistake of waiting for the government to provide everything for them and if you ask me, it is totally wrong.
There are so many investment options out there, one has to be very careful in picking out a good one.
Investing might be good but investing in the right thing is the actual key to success.
Investing in the right things matter, I have actually invested into the stock market and also the crypto market trust me crypto trading is more profitable than stock investments.
Let’s acknowledge that buying a new luxury vehicle is 100% consumption - not an investment. Talking about interest rates is silly when you are going to lose 30-40% depreciation on the vehicle in the first three years.
My rationale for leasing was simply based on avoiding huge depreciation in the event of having an accident. It is extremely difficult to sell a newer luxury vehicle if it has been in an accident over $2,000. The first question smart buyers ask is if there have been any claims.
Leasing allows me to hand the keys back at the end of three years and say goodbye. I get to enjoy looking for a new car every three years as a hobby. I recognize it makes no financial sense at all but it avoids the stress of getting ripped off by car dealers.
The smart (rich guy) buys a Honda Accord and keeps it ten years and gives to his kids.
@Chaminda Thushara Ruwan Kasturi lol so false. How many rich people you know? Maybe it’s different culture but I’ve met multiple millionaires that drive regular cars. And I have ALSO met very at least appearing to be wealthy people driving nice cars. To assume some is only rich if they’re flashing it is naive.
But I totally agree with you. I want a C300 I really really want it. And I know it’s not a good “financial” decision. They depreciate like crazy, like you said. Anyone getting a luxury vehicle is either recognizing its a liability and consumerism. Or so rich they don’t care. But why buy a new Benz and it loses its value. Or buy a used Benz and then risk having super expensive repairs once you hit around 70k miles. OR you can lease it, not worry about repairs or anything. You got a killer car you love at a low monthly payment and honestly you’re saving money leasing luxury if you’re the kind of person like most average drivers that buy or switch out a car every 7-8 years.
The way I look at it unless your buying a Honda/Toyota or love a car so much you’re ready to marry it and keep it in the family forever. Lease it.
Ive bought and kept like 6 to 7 yrs each time. Horses for courses, each to their own, just work out what you tbink you will pay over a comparable period for each option, and add in any factors of value into your decision. IE i like having a new car every 2yrs for example. I find it bothersome to change my car, and dont really care what people think of my car, that said i actually love a positive drive and a stick shift, so have a focus ST. Done me proud, as only lost 45% of what i paid in my 6yrs of ownership so far.
Great advice, theres a lot of factors to consider...great video keep up the good work.
Thanks for watching! Cheers.
Thanks Mark. I'm in love with the 2020 Audi S8 and it is a very expensive car to get even on finance. I'm not sure of the reliability of that car but what's your take on the reliability and leasing a 2020 Audi S8 ?
Simply cut your coat according to your cloth
I am done buying and leasing cars. I have a 2000 E55 AMG, a 2015 C63 AMG 507 Edition fully loaded and a Range Rover Sport Supercharged V8. I have been lucky with them, after costly repairs at the dealership my E55 is free of problems and my 2015 C63 hasn’t given trouble. My Range Rover needs new set of breaks and also in 2 years of ownership no problems at all. All my cars are service by local dealer and I have peace of mind. I do regret leasing my 2015 C63 if I had bought it likely I wouldn’t have 2 car notes.
Thanks you for posting this video. Very informative.
i lease because im assured to not have to worry about repairs and i pay much much less for a new car every 3 years. And i never pay any fees because they always eat them because i put on so few mileage. It saves me so much money. Not everyone can afford a Mercedes. You are in the minority
I buy a car every two years, I change because of big life changes like going from a sedan to an SUV because of a baby. This time I bought two cars, SUV and Sedan. Let’s see what happens.
I live in Northern Italy, here the average salary is 1200euros while the average house rent is 750euros, so when I hear people say having to pay 200euros a month for a car, I laugh because that's unaffordable where I live, that is why here in Italy people mostly buy utility vehicles and very very cheap ones for that matter.
I definitely agree these concepts relate to luxury cars. But as far as a regular 1 some of those rules don't apply. Also the maintenance on getting a 2-3 year used car is all on you or putting that into a warrenty (more money) and not all things fit into that warrenty so you're still paying for something.
I agree with everything said on the vid But will share that I bought a CPO nissan murano (Smithtown dealer ) , 3 years old, 30K miles for cash. worst car I ever owned with constant repairs. I suggest not trusting the dealers CPO mechanic and use your own before buying
Thank you very much for sharing. Yes that’s sad when they do not last
Hi bro , i have 2016 gle coupe, first generation, it’s now on stands, suspension is shotted, all bushings and ball joints to be changed, some plastic pipes are showing signs of leak so I will need to change all...I am slowly losing my confidence in Mercedes.
My F80 bmw has no such issues, granted it is 2015...
Wow that does not sound good. Are these cars in garage environments? Climate? Sadly the new stuff just does not last in those terms but the body structures are a bit better in most cases due to increased used of plastics, composites, aluminum, and better understanding of rustproofing.
@@ECPP Correct sir, driving is awesome, chassis etc is well developed but cheap parts is saying one thing... “please don’t keep this car for too long “
Cash always costs less. Always.
True up to a point. As USD has less value over time (especially since 2020), a little bit more you pay over a long period of time can be less and less of "money value" than an up-front chunk of money.
A jaguar in the driveway and he admittedly shops for reliability? Riiiiiiiiight....
Listen ... If you have decent credit the Finance Rates are so low ... Finance your Car with little or No Downpayment ... Keep YOUR CASH 💰... Cash is King ... if you can get 50-75k at 1.9 to 2.9% that’s basically Free Money ... take that And THEN if you wanna pay it off early ... make 1/2 payments bi Monthly or Pay $10-50 more per month and you’ll see a drastic balance reduction over the first 2 years and never be afraid of taking a 5-6 year loan ... it doesn’t matter how long you finance it IF the plan is to pay it off early which should always be the plan But please stay away from Paying Cash 💵 or putting large down payments down ... KEEP YOUR CASH
Absolutely agree. Hold onto your cash
@@ECPP Thank you Sir .. You know it's Funny I have so many friends ALL proud they paid for their 50-75K car Cash and I'm like you're insane ... I've been begging people to HOLD ON TO YOUR CASH & I tell them they should be smart about WHICH cars they buy IF you're gonna drop 50-75k (Or anything really) on a Honda or Toyota consider a 2 or 3 yr old Higher brand Model with Low miles ... A few years ago I paid 50K for my 2014 E63s AMG .. after two years the value has surpassed what I owe BUY the absolute MOST CAR you can buy with any dollar amount ... I've owned an Audi R8 that thing never lost 1 penny lol those cars HOLD their value .. I had a BMX X5M Fast as hell loved it and a Porsche Cayenne but if you can get any AMG model Benz go with the E Series which in My Opinion is the Best Mercedes Line they have (NON Supercar that is) MY humble Opinion from owning around 35 cars in my life LOL
Great info! Thanks!
I agree with you👍 .. But some people may prefer to lease avoiding responsibility, other cost ect
I prefer to buy a car, pay it off, and then see how many years I can go without a car payment. I will never understand leasing.
@@lesterparker1594 very true, it's nice to own with no payments
From experience, you're absolutely correct.
Thanks a lot Thomas. Any updates on the car purchase front ?
@@ECPP got rid of the 335i. Minor problems, already. Went cheap and bought a Porsche Panamera S, for now. Depreciation already realized, I know the year goes by before I pull the trigger on a 2009 or newer 911. I would have to go PDK, due to severe back issues and a clutch is past my capabilities now. Thus, being year specific. PDK was new, as you know, starting in 2009. But I thought about the 996 turbo. Again, no PDK. That is the latest!
Fantastic channel! New Subscriber here and loving your channel! Thank you for doing these informative videos!
Regards
Ghini
Thank you so much and welcome to the channel. I am glad you enjoy my content, have an amazing day.
@@ECPP Thank you, likewise have a great weekend!
How does this strategy of purchasing 2 - 3 year old Mercedes apply to a car like a Porsche 911, where used 2 to 3 year old 911s are being offered on the market at close to (or even higher, depending on the model) than the current MSRP? In such a case, wouldn't it make sense to buy new?
Leasing is such a scam. You pay for a car from the dealer and after years of payments give it back so he can sell it all over again. 💸
Totally agree
yup. Thats how i got my C Class It was a a lease originally now they selling it. When i got it the guy tried to get me to lease. Nope. That was hard earned 4k i wasnt getting back from a lease.
I agree however if you got the total cash fir the car and you invest it let the investments pay the bill your ahead of the game. Even if it cost you 5/6 thousand in 3 years.
It’s not actually. I paid 18k for 4 years on a 2017 benz and now about to get another car. They resale every car if you trade it in, doesn’t or shouldn’t matter to you. You’ve enjoyed the car for 3/4 yrs and now on to something newer and better! Why would i pay for a 5-6year loan for a car that depreciates as soon as i leave off the lot. Long story short get what you want and can afford. Leasing or financing it’s all not financially wise.
@@nieshadavenport4307 You spent $18k and have zero to show for it. You spent $18k and still need to spend money to drive. At the end of that $18k spent you give the car back and the dealer collects probably another $18K. 8 years and $40k later your driveway is still empty.
Ownership with equity > depreciating rental car.
Leasing is definitely not for everyone. However for the right person, and under the right financial factors is better than financing.
The worst part of the "smoke and mirrors" routine is when the crafty salesperson convinces you to hold the mirror during the negotiating.
Lol, true. Seems like a strange scenario.
Wow!!! Thank you. You saved me from leasing!!! Thanks man!
No to a lease?! 😂 80% of people lease their vehicle now a days imagine not wasting your money on endless repairs after 5 yrs, idk about you all but I like to ride new every three yrs 😄to each its own!
Do you think corporate leases would change this? I have access to one year leases, no down fees, and reduced monthly rates.
I am planning to lease a Merc with the option to buy at the end of the lease. I thought it would be a good option as the car is half the value, and you can finance the remainder. Is this a good plan?
Tip , Never buy a car brand new as soon as you leave the show room you have lost thousands, Try getting a nearly new ☘️👍
I would never buy an MB. My brother is a mechanic and these dumb toys for adults are his biggest clients! Bmw is neck and neck he said too.
Thanks for this video! I'm a big fan of your channel and try to catch up with your updates as much as possible, but there is so much information out there, that it is overwhelming. I'm returning back to the US and I'm looking to buy or dare I say Lease a new luxury sedan. I'll ultimately make my own decision, but which luxury sedan would you recommend given today's trends? Looking at a two year old car... so maybe a 2020-2021 years.
Weird, Mercedes and BMWs were considered bullet proof, now you have to worry about reliability especially if you buy one after the warranty expires. Where I live a cracked windshield is normal because of all the unscreened sand they put on the roads. I’m lucky to survive two years on only one windshield.
True glass is always a tough one. You also need Expel on the paint to protect from the same.
@@ECPP I’ve got the 3M coating on my vehicles. Never heard of expel, what is it.
What about the option to buy after lease end? would you than only finance the depreciated value of the car? while not having taken the full brunt of depreciation and having enjoyed a new car?
Mark.
What dou you think about direct buying on the internet from dealer?
You can buy a car after the lease term FYI U should rename this video bashing lease drivers because we dont like cars that depreciate in value soon as u leave the lot
I am thinking of buying a used e300 2018 with a P3 package. I need your honest advise. I keep cars for many many years.
Hello, so I just bought a used c300 2018 with 6868 miles. It’s a CPO with one year warranty. I skipped out on the extended warranty but apparently I can add it on at a later date. Does that seem worth it? This is my first MB so im not sure what to expect. Also thanks for your awesome videos! I decided to buy my first used luxury car after watching your stuff.
The best advice!!
Thank you so much. It’s words I have lived by.
But what about if your a business owner and can claim it off as a tax right off? 🤔Good luck God bless👍☘️🙏,
Leasing as a business owner is about the only way leasing is sensible.
You never actually own it with a lease, but cash is king and if your monthly payment is $100 lower than purchasing at the end of 36 months you have $3,600 cash in savings vs. a 66-72 month finance where you're pretty close to neutral on equity at the 36 months mark. For some, maybe they anticipate being at a different stage of their life in the next 36 months, for example better credit, better job, maybe finishing up a degree, bigger family, maybe they simply don't want to deal with the additional maintenance/repairs that comes in to play with a car over 50,000 miles. Look at the owners manual of any car (luxury, economy and all in-between) and at the 50K mark you start inspecting parts that weren't even mentioned in the first 50K miles. Transmission & differential, timing chains, CV-Axles, wheel bearings, ball joints, tie rods, power steering and well that's not all that wears out, Window regulators, those buttons and switches, all that plastic. Who knows how long the infotainment systems will last, they're relatively new in terms of the history of automobiles and they're exposed to high temps in the summer and cold temps in the winter. I've driven multiple cars way beyond their wonder years, enjoyed many years without a car payment but when a couple of big back to back repairs hit you, or you having to ask someone multiple times to pick you up at the mechanics shop, leaving your car there for days waiting on a part or it's turn in line you start to think that maybe a lease isn't all bad.
people think they looks good when they drive a nice new car, but the fact is that not so many people (no one in most cases) pay attention to you unless you got a bright color super car. Just a waste of money try to look nice and fancy
Sure, but that’s why it’s really about the driving enjoyment and a car should be purchased for the fun factor because life’s too short to drive boring cars.
ExoticCar PlayPlace I mean that’s why buy a car and hold on to it makes more sense than switch to new car and lose money every 2-3years：）
This guys says nothing but facts. another great video
Thank you
i am about to lease mercedes benz c for only 550 a month but the lease deal is only 6 months because the army is in JANUARY so no one would drive my own car so the battery would go dead so i think its wise to lease a car in this situation after the army I can buy my own car
Hi guys if the car your buying in $75000 and your wanting to buy it, what's it worth in 3 years? If I take 75000 put it in a tax frees savings investe in stocks at 8/10 percent lease for 3 years. Yes at the end of the 3 years I have no car true, but I have my 75000, and to have to replace tires and breaks ect ect . Also if I lease i don't do any ppf nor ceramic coating like i did on my other car that i store. So their $5000 saving their. My 2 cents don't know if it makes sense.
Only lease if you can write it off on your business tax retutns
FYI, you can also write off expenses on a car if you finance it as a business expense
You want to have the freedom of unrestricted usage on your car
That’s fair
Hmm, good points!
Cheers
Its me literally watching all marks videos over lol
Thank you very much
What about leasing as an expensing/write off strategy?
If your car reviews fail, you could make money as a model/ p star
You are completely clueless in your assessment of a lease vs a buy. Your previous videos completely contradict what you say about financing Vs. leasing, especially a luxury car that depreciates.
This simple logic should apply. Lease, a depreciating liability, buy anything that will become an asset. If you want to figure out what your "interest rate" is on a lease, ask for the money factor and multiply it times 2400. This will give you the approximate interest rate. Ask for the residual percentage. This will also determine how a lease is calculated. The higher the residual percentage (the amount that is owed at the end of a lease) the lower your monthly payment. Some vehicles have extremely high residuals and have low money factors. For instance you can lease a $55,000 ram 1500 crew cab with about $3000 out of pocket for a little over $460 because the residual percentage is close to 70%. If you were to try to buy that truck and finance it, it would be $55,000 plus taxes and fees. Presuming you have great credit and want to go 72 months at 3.9%, you would have to put down over $30,000!!! That's right $30,000!!!!!! I can explain the math further if needed, but you can plug all these numbers into any online loan calculator. I love when TH-cam celebrities try to "educate" people about their way being the right way to pay for a car, and everybody else's way is wrong. There are different circumstances that apply to different people. The number one thing to know whether you lease or buy is your credit rating. If you are above a 700 you should be good. Shop around to get the best money factor or interest rate.
I appreciate your feedback and I know exactly where you are coming from but if you watched till the end then it becomes much clearer to the best option for maximizing your buying power and minimizing your financial loss. Great info though if a person is looking for brand new then shopping around is much more important than just signing on the dotted line.
@Peter In the case of the Ram that you just cited, just wait until spring/summer and the dealer will advertise $12,000-$15,000 off MSRP. Then you negotiate a little further. I've noticed that Chevy does this as well, at least at the dealerships around me.
Is it also a bad idea leasing 2-3 yrs old pre own vehicle?
First Rule aka Rule #1: Never fall in love with one luxury brand! When your retired and always wanted that Alfa and can afford it...buy it! Lease, pay cash or whatever get the car and be happy. The point is, with all these literally hundreds of variants of models, types, configurations... only the strong (fairly reliable) will survive. LEASE YOUR NEXT CAR...
Agreed
Buy a car that was least is the best deal.
lease the car one (1) year. that is the same price as depreciation. ??line of credit for car price?? I saw that in Nov 1999 when work "buddies" bought two (2) new cars taking line of credit from the value of the house----then came the end of March 2000. and this youtuber probaly does know that reference
Very informative !
Thanks. Have you also ever leased a car?
ExoticCar PlayPlace
Yes , twice .
But both times I bought out those cars, because I put very few miles on both and the buyout price was much lower then a similar age car .
Porsche audi or volvo which is my best choice?
Cheers to all
Loved the video what year and model is your mercedes? Interested in getting one
Mine is a 2018 c300 coupe
Thank you
You are very welcome
Its like a apartment
For sure
WOW very interesting super kool ,1st class great info.,, AAAAAAAAAAA++++++++++++ again great video I liked it a lot ,keep up the great work.