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Mercedes-Benz E-Class Lease Questions

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  • kyfdxkyfdx Posts: 29,254
    The quote was for the car we drove, not a Bluetec (as this dealer didn't have any). It included the conquest money... and the 33 month term is the best for the E350 4Matic

    But, that was just their offer... we aren't in the market for that car (due to the lease price), so I didn't ask them to structure it exactly the way I want.. That's just their initial quote... Selling price was about $2700 off MSRP..

    We just wasted their time, because the closest dealer with a diesel is 2 hours away... ;)

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  • kyfdxkyfdx Posts: 29,254
    ..included 3-year scheduled maintenance, as well...

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  • If it's a 2011 they'd drop the price quite a bit more. I understand you want the BT, but just as a reference point I got the 4matic, almost exact MSRP as the one you drove for under $500/month before tax on a 33 month/12k lease w/o cap reduction. Selling price with conquest was 10k off MSRP. Took pretty hard-nosed bargaining, but $9k off would have been a walk in the park.

    Now if they only had the BT with 4matic I'd be in hog heaven!
  • kyfdxkyfdx Posts: 29,254
    This dealer sold their demo while we were there, and only had two E350 4Matics left.. Maybe, if they still have the car at the end of the month.. but, doubt they would knock off that much, right now.. The 2012 E-Class aren't even on the lot, yet...

    I really think I've got a better shot at the diesel, and might be able to do $500/mo. on that one, with no CAP reduction... just MSDs....

    Plus, while the car is very nice, it's not exactly our style... 24 months might be long enough.. ;)

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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    edited October 2011
    Hi gator5000e. Mercedes-Benz Financial's October buy rate lease money factor and residual value for a 36-month lease of a 2012 E350 Coupe with 10,000 miles per year are .00162 and 60%, respectively for consumers who qualify for its "Tier 1" credit tier.

    The numbers for an otherwise identical 24-month lease are .00162 and 70%.

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  • Hello kball2. Mercedes-Benz Financial's October buy rate lease money factor and residual value for a 24-month lease of a 2011 E350 Sedan 4Matic with 10,000 miles per year are .00192 and 70%, respectively for consumers who qualify for its top credit tier.

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  • Kyfdx's correct, the 2012s do indeed have $2,000 conquest cash available on them right now.

    Car_man
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  • gocard1gocard1 Posts: 16
    Thanks to all who are so helpful on this forum. I have a few questions on various topics I have read -- instead of having a really long e-mail (!), I'm going to break them up by subject matter.

    I've read about the multiple security deposits reducing the money factor on the lease and that you can have up to 10 of them.

    1.What is the reduction per security deposit individually and in the aggregate if you use 10 of them?

    2. Is the amount of the security deposit the monthly payment plus tax. If not, what is it?

    3. I think I've also read that you also earn 5% interest on the mutliple security deposits. Is that correct? Or is it simply that you get a better money factor so it works out to a 5% return?

    Appreciate the input!
  • gocard1gocard1 Posts: 16
    I most recently drove a Porsche, which I returned off of lease at the end of July. I have been driving our 3rd car, a '99 E430 since then.

    1. Would I be able to qualify for Conquest given that the former car was a Porsche but it was returned 3 months ago?

    2. Would I be entitled to a Loyalty bonus for the '99 E 430 or is it too old to qualify?

    3. What are the Conquest bonus and Loyalty bonus for a 2012 E 350 Cabriolet?

    4. If you qualify for either or both of these bonuses, can they be used with anything else or if you use them, are you ineligible for other bonuses and incentives.
  • gocard1gocard1 Posts: 16
    Does one have to be in the military/military-related to join USAA and get the incentive? Can non-military affiliated folks do so?

    I understand that the USAA Incentive can only be used by itself and not with other incentives. Is that correct?

    What is the incentive for a 2012 E 350 Cabriolet.

    Thanks!
  • ghstudioghstudio Posts: 956
    1) each security deposit lowers your mf by .00007 and you can have up to 10 security deposits

    2) It is either your monthly payment including tax after the MF is adjusted for MSD's (this is what my dealer insisted was right) or, the correct way to do it is apparently to calculate the monthly payment without MSD's, round that number up to the nearest $50 and that's the amount of each security payment (I am told this is what is in the mercedes finance manual). I can't tell you what your dealer will do...most have no idea about Multiple Security Deposits at all. It's a good deal either way.

    3) You earn closer to 10%/yr on the money that you put into MSD's and that is due to the lower monthly payments. You don't actually get interest on that money.
  • ghstudioghstudio Posts: 956
    Conquest qualification is a mystery. You dont sign anything that says you own a competitive car and they don't require a copy of the registration from that car. It appears (at least at my dealer) to be something done on faith.

    Also on stacking bonuses, dealers seem to do different things. My only advice is to try to get every one of them. I am pretty sure they won't stack conquest and USAA, but the rest seem to be fair game depending on the dealer.
  • For Conquest, all my dealer required was an insurance card with a BMW, Porsche, Lexus, etc. listed - that's it (no registration or anything), so my insurance agent agreed to give me a 1-day binder for a BMW (used a friend's VIN #). I just took that to dealer and qualified for $4,000 credit.

    Bottom-Line: anyone can get the Conquest credit.
  • ghstudioghstudio Posts: 956
    That was very clever :)
  • kyfdxkyfdx Posts: 29,254
    Salesperson e-mailed me... Selling price is a whopping $900 off MSRP (minus the $4000 conquest money) :surprise:

    Pretty forthcoming on the itemized lease parameters... Came in around $585/mo. and that didn't include tax..... which I didn't realize until I did the calculations..

    I replied that we were about $2600 apart... and, your number doesn't include tax, right?.. His next reply, "Is the inclusion of tax the only thing keeping us from a deal" :surprise:

    Uh no.... the tax I can deal with... it's the $2600!! LOL

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  • ghstudioghstudio Posts: 956
    Do they really think that customers are that dumb? I think you should post the dealership name, city and state and then tell them to look at this forum :)
  • kyfdxkyfdx Posts: 29,254
    Well... to be fair, this salesperson doesn't do his own deals... he just takes the numbers to a manager, who spits them back..

    And, we've never stepped foot in his dealership. If we were within $500-$1000, I might just head up there and attempt to close the deal. (I don't mind getting dirty...lol).

    But, to tell you the truth, my wife isn't enthusiastic about getting a Mercedes.... she is worried about what the neighbors might say.. Plus, it's a bigger car than she is used to..

    If I can get it for $500/mo. including tax, with just 1st payment and MSDs, I'll get it... but, nothing more..

    I've got nothing bad to say about the dealership... it's only about 10% of dealers that will do a deal as described here.... I only tried the closest one with a diesel.. If my wife were stuck on the car, I'd start shopping the next three or four closest that had a diesel... but, she isn't..

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  • ghstudioghstudio Posts: 956
    Don't buy a car your wife doesn't want to drive....big big mistake. However, you should be able to lease a 2011 BlueTec with P1/P2 for 24mos 12K/year for under $500/month....using MSD's and no down payment, as you want.....and don't forget to include mercedes maintenance in that lease.
  • kyfdxkyfdx Posts: 29,254
    Thanks for the advice..

    Just got another email....

    They've dropped from $587+ tax ($622 total) to $556 including tax... That includes maintenance .. That's about $525/mo. + tax.. That's about $1250 more to get down to the magic $500/mo. number with tax included...

    But, your biggest piece of advice was about the wife... Did I tell you about the BMW Z4 that I leased on Labor Day weekend? 24mo./20K lease... $335/mo. with $335 + $2450 MSDs due at signing... Service loaner with 11K miles... original MSRP $55K.. :surprise:

    My wife loved it so much, that now her friend is driving it... just waiting for BMWFS to get the title, so I can transfer the lease.... :(

    She is very reticent about the Mercedes.... but, seems to be on board with an Infiniti G37X.. we'll see...

    regards,
    kyfdx

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  • ghstudioghstudio Posts: 956
    I've driven the G37 as a loaner while they were working on my M37....it's a fun car...very peppy, nicely finished....you won't go too far wrong with it. BTW, Infiniti MSD's are worth .0001 each which is much better than Mercedes...but the limit is 7.

    Stay away from the M37 though....I bought myself out of that lease because I considered the car unsafe in some situations.
  • kyfdxkyfdx Posts: 29,254
    Thanks for the reminder on Infiniti MSDs... don't know how I let that get by me.... I've got VPP D-plan on the Infiniti... saves about $20/mo. over what they were offering...

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  • What are you guys paying for the Maintenance Program residualized for the 24 month lease on 2011 E350 Bluetec?
  • Dealership's finance guy is saying I can't take MSD's off of special .00192 financing rate -- only the normal .00240 rate. Is this correct?
  • kyfdxkyfdx Posts: 29,254
    On the deal I was working... 2 yr maintenance on the diesel was $1129 MSRP and they charged about $1080.... Can not be residualized...

    Their rate after 10 MSDs was .00155, so started with .00225....

    Said they couldn't do MSDs off the .00192 rate..

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  • Oh no...here we go again...I feel like I'm being forced to watch Adventures of Jake Speed or a Silver Spoons marathon.

    But all joking aside, this issue has materialized several times now(check out post #1813). There doesn't appear to be a definitive answer as individuals on this forum have had varying experiences. Some, such as myself, were able to use MSD on 0.00192 while others used MSD on MF's up to 0.00240. My personal assessment is that it appears to be at the discretion of the dealer, but again I don't know given the inconsistencies.

    I'm a proponent of MSD's in this economy regardless of MF as you save ~2pts in interest charges. And at the end of the day, its up to you as to whether the deal is sensible.

    Cheers!
  • I purchased an E-350 and paid cash for the extended warranty. I want to trade for a later model but have been told that I can't get a credit for the warranty. Has anybody experienced this? I feel like I am getting duped.
  • ghstudioghstudio Posts: 956
    I don't know what you were told...but when you buy maintenance on any car, it's on that car....in some cases, it might be transferable to a new owner, but it stays with the car.
  • ghstudioghstudio Posts: 956
    The really strange thing about the leasing inconsistencies (what mf base do you use with MSD's; what is the amount of each security deposit) is that Mercedes seems not to care what the dealer does. Surely some of the leases discussed here don't meet Mercedes guidelines and rules, yet no one has posted that their dealer has come back for more money nor has anyone had any communications from Mercedes about their lease.

    I just can't imagine a finance company or finance division that is so carefree about their contracts....and who give dealers different information when they call in for help.
  • kyfdxkyfdx Posts: 29,254
    gh.... I might have a deal on the G37X... Will post in that discussion, soon.

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  • I have a theory on the "inconsistencies". As a precursor, the dealer is allowed to mark up the money factor from their "buy rate" and can profit from the difference. They are a for profit business and each dealer can decide if or how much they want to mark up the rate.

    Based on the various things I have been told, I believe that you cannot use the MSDs to reduce from the promotional money factor of .00192. You must start from the "standard" money factor. However, there are different "standard" money factors. Tier 1 credit may have .00195 as the "standard" money factor and other credit tiers may have .00225 or .0024 as the "standard" money factor. So those people that are getting the MSD reductions from the .00192 may either 1) have a dealer that made a mistake or 2) have a dealer that is really starting from .00195 and may be eating the insignificant cost to bring it down from .00195 to .00192.

    Just my opinion.
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