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Mercedes-Benz E-Class Lease Questions

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Comments

  • outieoutie Posts: 40
    edited April 2010
    I was able to get 0.0018:

    E350W Palladium Silver, P2, Panorama roof
    MSRP: $57,615
    Invoice: $54,144
    Selling: $51,844
    Acq cost: $1140 rolled into lease (yes marked up but I am willing to)
    MF: 0.0018 with 10 MSDs @ 750$ each
    Residual 59%
    No loyalty/fleet discount.

    Drive off: $8977.38 including $7,500 MSDs, $1.4k title/license/fees/1st month
    Monthly: $643.5 + 9.75% tax = $706.24/mo

    He showed me their April lease paper which has all the rates. He said sure the special is 0.0025 but it is also the base rate. There was no problem to take that down to 0.0018. He confirmed w/ MBFS personally (not like other dealers I dealt with who just rely on their financial manager). It was a breeze to deal with him. We got the deal done within hours through emails.
  • poorprofpoorprof Posts: 109
    Congrats!! great deal!

    Which dealer was this?
  • outieoutie Posts: 40
    edited April 2010
    Thanks & I appreciate all your helps. Got it from Long Beach.
  • boomboom4boomboom4 Posts: 10
    I spoke with the dealer yesterday and they have tracked down the car I am interested in but it is in another state. They want 900 to ship it to MI. I am not real surprised that they had trouble locating a RWD in the midwest as most are AWD. I told him to let me know what other cars,colors,options are available without the shipping. I have not heard back. He reiterated that the mf of .0018 was not a problem(that always worries me when they say that). I am glad to see that another member got the same mf although I don't know how he got 2k south of invoice. Definitely a better negotiator than me. I found truecar.com to be very helpful. I will keep you informed. This forum has been very helpful. Thanks to all.
  • Hi I just got the 2010 Eclass today. can anyone help me to take a look?
    E350 Palladium silver/premium 1/para sunroof
    39 months lease with 39,000K mileage
    4000 drive off (including 1st payment, dmv and bank fee)
    monthly 620.69 or 675 after tax

    They told me it's 2450 under invoice but not sure it's good deal or not. thanks
  • jds10jds10 Posts: 5
    Hi everyone,

    This is the "best" offer I've gotten, but it doesn't sound like a deal to me:

    E350 black/black premium 1
    Sticker $53,425
    Selling price $51,500
    39 months 12k miles per year
    $3800 drive off all in
    RV 58%, $ factor .00275
    Monthly of $791 (including tax).

    Stupid robust Texas economy.
  • outieoutie Posts: 40
    edited April 2010
    $4000 drive off for 1st month, dmv, and bank fee only? It looks like there could be some capital reduction (~$1.5k).
  • outieoutie Posts: 40
    I do not know how competitive is the market in Texas, but that selling price is above invoice. There may be still room for negotiation.
  • jds10jds10 Posts: 5
    That's correct on the cap cos reduction estimate. Going to keep leaning on them with the sale price as well. Thanks!
  • Hi Outie

    Thanks for your reply.. Capital reduction is 2397 in this deal. is that good deal? tks
  • outieoutie Posts: 40
    edited April 2010
    Based on your information, this car is invoiced at $52,012. If it was $2,450 under invoice, the selling price is ~$49,562. It is best to get the exact figure for the final selling price.

    For $4k drive off, if $2397 is toward the cap cost reduction, then I think the acq fee of ($795-$1095) is rolled into the lease.

    Without paying any cap cost reduction (save that $2397), your monthly payment should be $684.46/mo + tax with 58% residual, 0.0025 MF. With 2397 cap reduction, it's $617.00. It's a little bit off but it's very close.

    If you were to put down 2.4k in cap reduction, you might as well consider applying multiple security deposits. 2.4k is worth 3 security deposits, or a reduction of 0.00021 in mf. Your monthly would be $667.09 without cap reduction.

    This is a great deal as long as they are already $2k under invoice. Good luck.
  • outieoutie Posts: 40
    edited April 2010
    Definitely push for more discount on the selling price.

    MSRP: $53,425
    Invoice: $50,347
    USAA no-negotiation price: $48,047 (your dealer should be able to match it)

    Assuming no cap cost reduction, acq cost/bank fee (~1095) rolled into lease, drive off only consist of first month and tags, 58% residual, MF 0.0025 (not sure if it's your credit or dealer markup if you were quoted .00275):
    $665.85/mo + tax
  • Hi

    thanks so much for your valuable inof. My monthly payment is 675 (including tax already) i think it's pretty decent deal. thanks again for your help. Btw, how do I calcute the payment based on 0.0025 and in my case, they did collect multiple security deposit, should I offer that to make payment lower? tks
  • outieoutie Posts: 40
    edited April 2010
    You'll need to use a lease calculator like the one from here:
    http://www.leaseguide.com/calc.htm

    You'll also need to put in the acquisition fee under "additional costs included the lease".

    Did they collect or did they not collect multiple security deposits? If you had the money just sitting around, you should use it to apply multiple security deposits (up to 10 for a total reduction of 0.0007 in mf). You can save 30-40$/mo. It's equilvalent to 7%+ annual return over the course of 39 months. From my experience, not many dealers know about this and even when you tell them about it they don't want to do it. It's a program offered by MB Financial. The dealerships will tell you 0.0025 is their current special rate, but if they looked carefully it is also the base/standard rate which can be further reduced by MSDs. So your mileage may vary.
  • jds10jds10 Posts: 5
    Thanks for the input. I'm leaning on him and pitting him against another dealer. Should not be a problem.
  • boomboom4boomboom4 Posts: 10
    Just wanted to update you on lease of 2010 e350. The dealer in MI was not able to find a car equipped even close to what I was looking for. I have purchased many cars over the years and have never experienced such deceptive business practices and unprofessional behavior as the salesman and sales manager exhibited. There are a lot of nice 50k+ cars available. Mercedes lost a customer. For life.
  • You're right there are a lot of nice cars out there. But why let a dealer dictate what you drive? The dealers are all independently owned. They just sell the cars. It's easy as pie to buy a car from another dealer anywhere in the country and have it delivered locally. I've owned my 2010 350 4 Matic for four months and love it.
  • outieoutie Posts: 40
    edited April 2010
    I agree with michaelbaum. If you have followed my previous posts, I have dealt with 5 dealers around my area and 4 of them would not honor a straight MSD deal. Only 1 did it without giving me any trouble and gave me the best price. With my extensive research/knowledge about their lease program, I cannot stand anyone trying to play game with me. I almost gave up but I finally found the dealer I felt very comfortable working with, no BS/deceptive practice.
  • boomboom4boomboom4 Posts: 10
    The fact that Mercedes allows these dealers to retain their franchises speaks very poorly of the company. Not a fan of Lexus automobiles but they know how to treat their customers. Mercedes needs to figure out that people are not just buying the car but the experience as well. I remember the CEO of Rolex years back who was asked how they can sell watches that are some much more expensive than a Timex. They both tell time accurately. He said he wasn't selling a watch but he was selling a luxury. Mercedes would would be smart to figure out exactly what they are selling. The Rolex CEO has it figured out.
  • Boomboom4,
    Which dealer are you working with (or WERE you working with would be more correct)? We're in the Detroit area and have great experience with the dealer that is not owned by the "3 connected" MB dealers in the area. If you would, share which dealer was not such a good experience.
This discussion has been closed.