Hi Everyone I am new here, and I have a slight dillema and would like to get some insight from others.

Ok I bought a used 2002 S500 Mercedes Benz a few months ago, my insurance ended up going through the roof to about 800 a month. Yea i know Im nuts!! And this is not because I have a bad record, just because the car is a high end car (whatever terminology they used). I wanted to trade it in for a G35 coupe, love the car, totally different from my last two cars a Lexus LS 430 and the S500.

I went into the Infiniti Dealership, thinking I was going to walk out today with my new G. But unfortunately I did not. My S500 has 73K miles on it and its an '02, no damage, clean title, no blemishes nothing. My buyout is around 25K, and they wanted to give me 21K for the trade. So the additional 4K would be added on to the price of the G. I was looking at a 36 month lease, the G had the premium package and sports package. It was around 35K I believe. My monthly payments would have been 630 a month with 1900 down (taxes, tags, reg included).

Now my question is should I go for a 12 month lease to wait for the new generation G to come out, would that lower my monthly payment? I am paying 563 a month for the Benz, and do not want to exceed that amount, but would be happy if it was lower. Would this be possible?

And my second question, is should I sell the S500 privately, on Ebay, or just trade it in and get it off my hands?

Any help would be great. I really got my hopes up thinking things would work in my favor. But things did not. I am waiting on another dealer, to call me about a 05 G35 coupe to see what can be worked out, hopefully I will get that call tomorrow.

 

FWIW I had a similar situation where I was going to trade in my 2005 Mercedes C230 for the G35. They wanted to give me 18k, but I owed 22k. Dealers will always offer you alot less than the car is worth, they want to maximize their profits. I ended up listing the car on Craigslit and made a small profit. Trust me, you will do much better to sell it yourself.

And yes, I'm gonna do the 12 month lease so I can switch to the new G35 when it comes out. It's actually cheaper than the 24 or 36 month lease, so why bother?

 

same here. will get the newer version when it comes out. if you can sell it on your own do it.

 

Yeah, thats what I plan on doing.

I just got a deal for a '06 Laser Red G35 coupe,Aero Package, Premium Package with intelligent key, Sport Package, RR Active, Sirus

MSRP $40390
Sales Price $37821.95
Residual Percentage .79
Residual $31908.10

O Down, $1900 out of pocket, 12 month/15000miles @ $497 a month

Is that a good deal?

 

Short answer is NO, cus the residual should be 82~83%, which it will reduce your payment by about 110 a month.

 

Ahh glad I posted this. Clue me in on why it should be 82-83%? Just curious...Is the residual the same all over the country? I am in NJ. Thanks

 

The higher than usual residual is because its an "special" one year leasing term from Infiniti and yes it should be same all over as long as its "one year" leasing term...check the tread just below this or this thread's post #10.

https://g35driver.com/forums/buying-selling-leasing-discussion/113912-advice-lease-deal.html

 

Thanks for the info, I just called and he is going to ask the leasing manager. The salesman said the residual more then likely dropped since last month, because they are nearing the end of the year. So I am waiting to hear back from them...

 

Here is the answer to your problem and mine as well...
I have to get rid of my G35 sedan 6spd, My loss is your gain. I seriously doubt you will find a deal like this anywhere else. Here is the link:
http://www.leasetrader.com/auto/leas...n_103308.xhtml

Basically you would have to pay any transfer fees associated (no more than $500), but that's it... Once everything is said and done, you drive away in a Luxury G35 for $400 a month nothing required down. I already payed 1st and last payment when i got into the car, so all you would be responsible for after i put down the incentive, is paying the monthly payment.

Let me know.
Thanks,
Dan

 

^^^Riiiiight

 

Care to elaborate your comment a bit more "Kuz"? If so, please reply in my previous thread https://g35driver.com/forums/buying-selling-leasing-discussion/117499-take-over-payments-g35-6spd-sedan.html
as i don't want to throw this thread offtopic.

Thanks,
Dan

 

she is looking for a coupe...

 

Yes I am. And plus I really could not handle the benz payments and the G payments. Its one or the other.

 

Well, I got approved for the lease, but because my loan is so new on the Mercedes I will not be able to get the G while I still have the mercedes. I need proof that the loan is paid off. So now I have to find a buyer, anyone have any suggestions on where to post an ad for the Mercedes S500 that I am trying to sell?