NARIMAN

my wife drive Benz GL 550, we got it used last year, and paying over 1000 a month and we still have around 53k left
now there is a new model of Gl 450 for lease and with 7K down we can have it for 700 a month
would that be smarter to keep the 550 or trade for the new model and lease but payment is lower?

had to ask because not sure what is the smarter way
thanks

ronniej

Not sure how old your current vehicle is, but you would have to sell it for at least $60k to offset the $7k down payment. If not, it would take you 24 months to recoup the $300/month savings.

MVR 155

Tough to tell without knowing things like what year/miles are on your current GL along with what your paying in interest.

Also would need to know the terms of the new lease..... mileage allowance, residual at end of lease, length of lease etc...

Boosted Josh

What's the sticker on the 450? What is the 550 worth?

Either way you are paying a lot for a quickly depreciating vehicle.

$700 with 7k down seems really high.

03clyde

And how.

o2z51

depends, i assume you financed this one? whats the rate ect?? are they taking the trade? sounds like you'll take a bath on the sale of this one, your prob better off refi the current one and strtetching the payments out, lots of really low car loans right now, like 1-2%

00C Just for Fun

If you are driving a car in this price range, monthly payment should not be an issue. It is irrelevant to actual cost, but the salespeople love this mentality.

Need to assess equity in the one you own, intentions on how long you are willing to drive it (equity will change gradually over time) and then compare to lease cost.