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I am looking to lease a new s550 from mercedes benz financial. Anyone had any recent experience with them? I beleive they pull TU in NY. Do they pull normal TU fico or auto enhanced TU score? Ill be putting down 10k down with no auto experience on my credit report. Any information is appriciated.
eq 751 tu 761 ex 784
@Anonymous wrote:I am looking to lease a new s550 from mercedes benz financial. Anyone had any recent experience with them? I beleive they pull TU in NY. Do they pull normal TU fico or auto enhanced TU score? Ill be putting down 10k down with no auto experience on my credit report. Any information is appriciated.
Yes, same vehicle in july of 16. Pulled equifax, IM in VA from my score when I was pulled it looks like they used FICO 8. Only concern I would have is going for a lease of that size with no auto experience. Unless you have a mortgage reporting they may say you dont have enough experience with payments that large. I had to prove income with my lease as well, even with 10 years Plus of multiple six figure (paid off) auto loans on my profile. Most lenders will want 10-15% down minimum for your OTD price. So you may need to bring more to the table. Figure its a 115k car with 4.5% tax and 1000 for dealer paperwork fee and tags. Your looking at 122k or so they may want 12-15k down. My s550 had a 119k sticker and i put 12k down but 10k of that was negitive equity and have a lease payment of 1448 a month. 48 months/10k a year. You should be lower if your down payment is all going down on the new vehicle.
Thanks for the information. I am still debating on getting the new updated 2018 s550 this summer (when it comes out) or 2017 s550 this month. I will be looking for a 20k-15k discount on the price of a 2017 s550. I will try to keep the price of the car around 98k-102k. Putting 10/15/20 % down is not a problem. I have bought my previous vehicles in cash. Mortgage is in my wife’s name and I don’t want to involve her in any way in this transaction. Maybe I need to go and talk to someone in the lending department about my situation in the Benz dealership to get a better picture of what are my options?
@Anonymous wrote:Thanks for the information. I am still debating on getting the new updated 2018 s550 this summer (when it comes out) or 2017 s550 this month. I will be looking for a 20k-15k discount on the price of a 2017 s550. I will try to keep the price of the car around 98k-102k. Putting 10/15/20 % down is not a problem. I have bought my previous vehicles in cash. Mortgage is in my wife’s name and I don’t want to involve her in any way in this transaction. Maybe I need to go and talk to someone in the lending department about my situation in the Benz dealership to get a better picture of what are my options?
The deals are out there thats for sure. They took 18k off the sticker for me with out so much as a blink. and yes best just to talk to the finance office and let them figure it out for you, a dealer always wants to sell a car so they usually have some pull.
If you are planning on keeping it a while I would wait for the updated 2018 to come out, Im kinda bored with this one (common for me, I trade one of my cars every 6-8 months or so) and my buy out is 93k and my highest trade offer so far has been 81k even with only 2400 miles on it. So plan to keep it a while unless you want to eat the negitive.
Did you pay the MSRP price or lower? How much of that MSRP was added options?