CLS55 AMG Take Over Awesome Lease

[lawman31]

Excellent opportunity for someone here. I am 28 months into a 60 month lease, so 32 payments left. This is a 20,000 mile per year lease, so you will not run over on miles with this car. In fact I am under miles right now with about 42,000 miles. Still under factory warranty, always maintained by the dealer here in Orange County California and in excellent condition, no dings or scratches and waxed and babied all the time. DETAILS: 2006 CLS55 AMG with Every option minus the 030 package and Sirius. So Parktronic Navigation, Lojack, Keyless Go etc... It is iridium Silver with black interior. The tires are Michelin Pilot Sports and probably have about 10,000 more miles left on them on 19 Inch factory wheels. The lease is with US Bank and is assumable at $1,564.04 per month. All I want is $2,500.00 up front and simply assume the remaining lease of 32months. This is way better than leasing new, which would cost a lot more, especially up front in drive off fees, I paid $10,000.00 for this car in drive off fees. Take advantage of a 32 month lease at 60 month payments. I do believe that if you turn in the car under mileage that the bank will kick back like 15 cents per mile. So with the miles on it now, that's 1,200.00 as is. You might even be able to negotiate a lower payment with the bank when you assume the lease if you choose lower miles, but I am only guessing here, just assume $1,564.04 a month and you won’t be disappointed. I have the paperwork necessary to do the deal, if you are interested, please contact me. I can send pictures or even arrange to show the car if you are local. I can email you the necessary paperwork if you wanted to contact the back first to see if you qualify. This is truly a beautiful car and it pains me to lose it, but times are tight and I need to cut some of my expenses right now. Send me a PM and I will reply promptly.
Kevin.

[blackcls63]

wow, all the best, u may want to post some pics... my advice, leasetrader.com and swapalease.com.

60 month lease @ 1564 and you put $10,000 down ? that sounds like a lot.. whats the residual ?

[ScottCLS55]

Hes payin big for 20k miles a year, I didn't even know they set up plans for that many miles.

[bigben320e]

GL on the sale/lease but I did have a question.

Why are leases so damn high? You could buy the car and have payments for less than that. Just a question and thought.

[lawman31]

Originally Posted by bigben320e

GL on the sale/lease but I did have a question.

Why are leases so damn high? You could buy the car and have payments for less than that. Just a question and thought.

I think that once you do the math you will find that your statement is not accurate. Everything considered, a purchase and a lease can be close and depending on the type of car and the deal sometimes a purchase is a better choice, but with most high dollar cars, a lease works out best for many reasons. My main reason was for the tax write off as I am in outside sales and can write off the entire payment for the car.
There are other factors too. PM me if you want to chat about it, I know a lot about financing and this lease is not bad at all.

[isellpower]

Good luck on your sale. Some quick calculations show that by the time you get done paying for the lease you are out about 48K. You can buy a similar car with less miles for 45K or under. I know you will pay some interest, but you will own it and for much less per month. I am in the market for a CLS55 and I have looked at many in the 45K price range. Like I said, good luck on your sale.

[lawman31]

Originally Posted by isellpower

Good luck on your sale. Some quick calculations show that by the time you get done paying for the lease you are out about 48K. You can buy a similar car with less miles for 45K or under. I know you will pay some interest, but you will own it and for much less per month. I am in the market for a CLS55 and I have looked at many in the 45K price range. Like I said, good luck on your sale.

Thank you for your input and a lease and purchase are both typically pretty close on the surface to the untrained buyer. If you buy a car for $45,000.00, don't forget about tax, so another $3,600.00 or so. Now you're up to $48,600.00. If you leased my car and were able to write off the entire lease payment, you are actually saving about $400.00-$500.00 a month in taxes. Add that up over 32 months using the a very conservative estimate of say $300.00 and you are actually saving $9,600.00 in tax liabilities. With that said, leasing this car would really only cost you about $38,400.00. Again, you don't own it in the end, but the value of the car in another 32 months with 100,000 miles, if you even wanted to keep it would pretty much be a moot point right? Most of us lease vehicles because we need the write off and don't want long term ownership of a depreciating asset. For the most part when you lease a vehicle you are only paying for the depreciation of that vehicle and not tying up your money in an asset that is depreciating. Most financial wizards will tell you that purchasing a vehicle is probably one of the worst financial decisions that one can make. Any way, it's here nor there, some people simply like the feeling of ownership and I do understand that, but I must tell you that this is a good price for this lease all things considered. If you check, you will see that the average lease on this car is about $1,700.00 per month and typically only give you 15 thousand miles per year and most only 12 thousand. So any way, I do appreciate your input and I hope you find your dream car.
Kevin.

[blackcls63]

lawman1, just to give you an idea, my lease payment/month is a few dollars higher than yours and I put 5k total down. I also need the lease for tax write-offs, and I support leasing 100% if you can write it off. however I do have 15k miles /year, but to get that additional 5k miles /year, do you actually pay that much more ?

[lawman31]

Originally Posted by blackcls63

lawman1, just to give you an idea, my lease payment/month is a few dollars higher than yours and I put 5k total down. I also need the lease for tax write-offs, and I support leasing 100% if you can write it off. however I do have 15k miles /year, but to get that additional 5k miles /year, do you actually pay that much more ?

Oh my gosh yes... The mileage on a lease is calculated by the percentage of residual value. So for instance, if you have a residual value after 60 months of 42% let's say, when you add an additional five thousand miles to the lease your residual value might only be 35%, which means that 7% of the cost of the car is calculated back into the lease which really adds up.
I leased a C350 for my wife with 12 thousand miles for $584.00 and the same car with 18 thousand miles came to 738.00 for the lease payment. You also need to keep in mind that if you turn the car in at the end under miles, they will give you about .15 cents per mile back. If you do the math on this 5 thousand miles per year times 5 years, 25,000 miles times .15 cents comes to $3,750.00 divided by 60 months comes to only $62.50 per month. The reason for this low number is because on the front side you are paying finance charges on the money, so you really want to make sure that you don't over buy the miles on a lease. On the other side of things, if you go over your miles, they want to charge you typically .25 cents per mile. So in that case using the same numbers you would own them $6,250.00, or what would have been about $105.00 per month. So you pay for miles one way or another I guess. Hope this makes sense.
Kevin.

[blackcls63]

I didn't know you get .15 c back for unused miles... i have usbank as well... if i do , my lease might be as awesome too !

[lawman31]

Originally Posted by blackcls63

I didn't know you get .15 c back for unused miles... i have usbank as well... if i do , my lease might be as awesome too !

You should check to make sure, not all leases will kick back for unused miles. I actually need to verify myself. I know that when I bought the car they told me that, but I have never verified for certain.

[m_berman]

Originally Posted by isellpower

Good luck on your sale. Some quick calculations show that by the time you get done paying for the lease you are out about 48K. You can buy a similar car with less miles for 45K or under. I know you will pay some interest, but you will own it and for much less per month. I am in the market for a CLS55 and I have looked at many in the 45K price range. Like I said, good luck on your sale.

You might want to try swapalease.com to get out of your lease. If really serious, a buyer's incentive really helps. Never heard of a buyer's premium ($2500 in your case) to assume a lease.

BTW....
Swapalease has a 07 cls63 at:
$1295/mo
32 mo remaining
1100 mi/mo

You might want to reconsider an incentive to exit your lease.

On another note, most lease deals never factor into the equation that you are always in the payment mode and never reach a point of no payments. How does one factor in savings of ownership once you paid off the loan? Can't do that with a lease. Chalk up one for ownership. Just my $.02 worth.

[lawman31]

Originally Posted by m_berman

You might want to try swapalease.com to get out of your lease. If really serious, a buyer's incentive really helps. Never heard of a buyer's premium ($2500 in your case) to assume a lease.

BTW....
Swapalease has a 07 cls63 at:
$1295/mo
32 mo remaining
1100 mi/mo

You might want to reconsider an incentive to exit your lease.

On another note, most lease deals never factor into the equation that you are always in the payment mode and never reach a point of no payments. How does one factor in savings of ownership once you paid off the loan? Can't do that with a lease. Chalk up one for ownership. Just my $.02 worth.

That car is actually $1,400.00 per month after tax and only 13 thousand miles per year as opposed to mine at 20 thousand. This is a huge difference. However, that car if as advertised is a good deal too if you don't plan on driving it very much. Also, my residual is only $20,000 and that one is $42,000.00. Mine is actaully a way better deal per mile. I do appreciate everyone's feedback here, but I must say that I feel that I keep defending myself here, it's sort of funny. If you aren't interested in my car, that's cool, but you can't convince me that I have a bad lease and even if I did, who cares right??
Thanks again everyone.
Kevin.

[m_berman]

Originally Posted by lawman31

That car is actually $1,400.00 per month after tax and only 13 thousand miles per year as opposed to mine at 20 thousand. This is a huge difference. However, that car if as advertised is a good deal too if you don't plan on driving it very much. Also, my residual is only $20,000 and that one is $42,000.00. Mine is actaully a way better deal per mile. I do appreciate everyone's feedback here, but I must say that I feel that I keep defending myself here, it's sort of funny. If you aren't interested in my car, that's cool, but you can't convince me that I have a bad lease and even if I did, who cares right??
Thanks again everyone.
Kevin.

Good luck with it.

[lawman31]

People have been asking for pictures. Here is a link http://2006cls55amg.shutterfly.com/

[m_berman]

I noticed that the car has the P 030 alcantara steering wheel. How did that get in there without the P 030 option.

Great looking car.

[lawman31]

Originally Posted by m_berman

I noticed that the car has the P 030 alcantara steering wheel. How did that get in there without the P 030 option.

Great looking car.

Excellent question... I bought it after the fact and installed it. I am going to replace that wheel, so as of this weekend, that wheel will be for sale. $200.00 for anyone who wants it. It needs the little plus insignia, so you may need to highjack that from your stock wheel.

[m_berman]

Originally Posted by lawman31

Excellent question... I bought it after the fact and installed it. I am going to replace that wheel, so as of this weekend, that wheel will be for sale. $200.00 for anyone who wants it. It needs the little plus insignia, so you may need to highjack that from your stock wheel.

How much did you pay for the wheel?

[lawman31]

Originally Posted by m_berman

How much did you pay for the wheel?

Another good question, I am not 100% certain since it was 2 years ago now, but I believe somewhere around 4-5 hundred. I checked with the place where I bought it to see if they could provide me with a new plus insignia for it and they said that they didn't have one to sell to me by itself and I would need to buy an entire new wheel. This sounds like a scam, but so far I have not been able to find these anywhere and Mercedes can't even replace it and said that I would need a whole new wheel as well. I sold my original wheel, so I don't have that one to rob for parts either. They also had record of my original purchase and said that my wheel was rare and they haven't had any since I bought that one 2 years ago, so I guess they thought I might want to replace it with the same one again. I am flexible on price since it's a used wheel, but it is in very good condition with no wear marks to speak of out of the ordinary. I don't smoke and since my wife doesn't drive this car there isn't any makeup on the wheel. No weird cologn smell either, ya know typical stuff you might not think about asking. I am not sure how easy it would be to find this same wheel again. Originally I went to Mercedes to see if I could purchase one and they said they didn't have one in their system to sell me, which I found odd, but I wasn't ready to spend the $2,195 that they would have wanted any way.

[Jorgeassoc]

pics??

[lawman31]

Originally Posted by Jorgeassoc

pics??

George, here is the link to all the pictures again.

http://2006cls55amg.shutterfly.com/

It's above in the string too, but unless you read the entire post it can get lost here.

Everyone, please note that the first 5 pictures are new as I just had Fletcher Jones Mercedes install the new steering wheel yesterday.

If you have problems with the link for any reason, please PM me or simply give me a call to discuss. 714-366-7437
Kevin.

[blazinginder]

this is a lease for someone who needs the extra 5-8k miles per year over the typical allowed mileage...for those who dont drive nearly as much and would be well within the normal 12-15k mileage per year, this deal isnt for them

[lawman31]

Originally Posted by blazinginder

this is a lease for someone who needs the extra 5-8k miles per year over the typical allowed mileage...for those who dont drive nearly as much and would be well within the normal 12-15k mileage per year, this deal isnt for them

Even with the extra miles, this is a good monthly price for this lease. If you take over this lease and only dive say 12K miles per year, you would turn in this car with 74,000 miles and US bank would give you back .015 cents per mile under 100K so a check for $3,900.00. No matter how you slice it, this car with all the options, Voice activation, Cell phone, I-pod kit, Park smart, Push button start, navigation etc... In showroom condition is a good solid lease. There are so many leases in the $1,700.00 range if you look. I guess everybody has their opinion and leases in general aren't for everyone. I do appreciate everyone's opinion though, don't get me wrong.

[lawman31]

Originally Posted by lawman31

Even with the extra miles, this is a good monthly price for this lease. If you take over this lease and only dive say 12K miles per year, you would turn in this car with 74,000 miles and US bank would give you back .015 cents per mile under 100K so a check for $3,900.00. No matter how you slice it, this car with all the options, Voice activation, Cell phone, I-pod kit, Park smart, Push button start, navigation etc... In showroom condition is a good solid lease. There are so many leases in the $1,700.00 range if you look. I guess everybody has their opinion and leases in general aren't for everyone. I do appreciate everyone's opinion though, don't get me wrong.

Okay... I checked with US Bank, and turns out that they do not give money back if you are under miles. MB Financial does though, so perhaps leasing through US Bank is not the best way to go if you need extra miles on your lease. So with this new information I will be offering the lease take over with no money up front, simply take over the remianing payments of 31 months. Here is another link to the pictures for any one interested.

http://2006cls55amg.shutterfly.com/

I am actually very happy with the car, so if I can't find a new owner I won't be too heart broken.

[blackcls63]

Originally Posted by lawman31

Okay... I checked with US Bank, and turns out that they do not give money back if you are under miles.

that's what I thought. was wondering how come you were a "special" case.

[lawman31]

Originally Posted by blackcls63

that's what I thought. was wondering how come you were a "special" case.

Well I do like to think of myself as special, but not in this case it would appear. I just remeber what the sales associate told me 2 1/2 years ago, but that was probably for my CLS500 lease and not this one. Either that or the guy was full of crap.

[lawman31]

I just wanted to provide an update: Along with the new steering wheel, I just purchased 2 brand new Michelin Pilot Sport PS2 tires for the rear, $900.00 and I will have them installed this weekend along with a fresh balance for the fronts too. After close inspection, the front tires have easily 20 thousand miles left on them, but as most of you know or maybe you don't, these cars go through rear tires twice as fast as front tires. So since the front tires have 50-60% tread left I figured if I put on 2 brand new rear tires the car is good to go for probably another 20-25 thousand miles and the tires should be ready for replacement all at the same time next round. The rears aren't completely worn yet, but I like to be proactive, especially when it comes to tires. The set of Michelin Pilot Sports on the car now were installed when the car had 19K on it when the factory provided Continentals were completely worn out. The new set now has 24K miles on them and have worn extremely well. Michelin tires may cost more up front, but I bet if you were to calculate the cost of ownership based on miles, they are a good deal. I am very happy with what has turned out to be easily a 25-30K est. for the rears and 50+K miles tire for the fronts, which from what I understand is excellent for the AMG. Based on these numbers, the Continental tire should cost half of what you would pay for the Michelin if you do the math based on miles.

[Improviz]

Originally Posted by isellpower