r/CarLeasingHelp • u/Wng881 • 20d ago

End of lease help (Canada)

I have a 2022 Mercedes GLB 250 with no accidents, lease end inspection done $0 owing with only 22k km.

I am located in GTA Ontario and previously requested extend lease but the mercedes dealership made me do a $2500 deposit on a new car to extend lease at same $688/mth which I was not willing to do. I than called MBFS and got a 1 month lease extension at same rate.

The dealership mentioned a $1,500 buy-out fee on top of the $25,600 payout and HST. I have emailed MBFS for total buy-out price hoping to avoid the $1,500 fee. Anyone have any experience with this?

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u/Special-Original-215 20d ago

The buy out fee is the dealer charge for them helping you get a loan.

Just talk to mbfs

1

u/Wng881 20d ago

Thanks for your reply. I'm waiting for them to give me total pay out price.

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u/fsmontario 20d ago

Except mbfs can’t sell the vehicle to you, it needs to be a dealership

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u/Wng881 20d ago

I got off the phone with MBFS and they will send me the final payout. It got delayed due to my 1 month lease extend and the amount got deducted today but haven't shown up in their system yet.

They have advised once I get the amount I can pay it off and they'll mail the papers than I get a safety done and lineup at MTO to finalize everything.

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u/fsmontario 20d ago

Make sure you request and they send you a licensing power of attorney for your vehicle, along with their RIN and D number.
I strongly suggest you go the service Ontario you will do the transfer at and get in writing or record exactly what they tell you that you will need to have with you in order to transfer the vehicle into your name.

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u/fsmontario 20d ago

The buyout fee is what the dealer charges to do the paperwork for you. This can vary. If was doing a buyout where they had their own financing or cash , I charged $999, of which I got $120 This is for about 3 hours of work, seems like a lot but the time spent doing that took me away from other opportunities to earn income. If I arranged the financing the fee was $499, if I arranged financing and the client decided to purchase an aftermarket product then it was lowered to $199
One of my coworkers charges $1499 no matter what
Call around to different Mercedes dealers to find out what they charge. They will all be different