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Mercedes-Benz E-Class Lease Questions

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  • Folks -

    Thank you all for making this thread a very valuable source of info for lease & purchase. Thanks to your posts, I went through an almost painless and straight forward process and took home a 2012 E-350 about a week ago from Lokey Mercedes in Clearwater, FL.

    Black/Cashmere leather/P2.....
    MSRP - $62,375
    Purchase price - $52,700 (~16% discount off MSRP)
    Term/miles: 24/12k
    MF: special buyrate .00127 less autopay (.00010) = .00117.
    Prepaid maintenance: $715 (residualized!)
    LAF: $1095
    DF: $699

    Above all, a deal we're happy about! Couldn't get the 10 MSD's discount as I was told it could not be combined with special MF per MBFS rules.

    Everything was done via email & a few phone calls and started with a quote inquiry from edmunds.com. Many credits to Miguel, he made the whole process a breeze. If you're shopping and don't mind sourcing from the Tampa Bay area, I recommend this place. May still have a few 2012's and but surely plenty of 2013's

    Cheers!
  • You can check 2013 August lease rates at http://www.ridewithg.com/index.php/2012/08/2013-mercedes-benz-lease-rates-august- -2012/

    It does not have E550 rates but should still provide you a guess-estimate. Btw, I am not affiliated with this site and found it on mbworld.org.
  • Hello mmrfk03, thanks for sharing and this is great information. What is your monthly payment (with and w/o taxes) ?
  • This is the initial quote I received. I don't know what to ask for next or if this is a good deal:

    2012 E350 convertible Black on Black Leather equipped with Premium One Package, rear spoiler, wood trim package, appearance package and a black soft top.

    MSRP 65,265
    Initial cap cost 60,000 (selling price 59,500 + 500 transportation)
    LEV 37,855 (LEV % is 58% x the MSRP)
    Money Factor .00160
    Act. Fee 795
    Dealer fee 399
    Title/lien fee 17

    36 mth/12k per year

    No money down. First month lease payment due at signing: $799/month + tax (Omaha, Nebraska)

    Am I on the right track?
  • Update...

    Same terms but I negotiated the $799/mth to include the P2 pkg instead of the P1 (I wanted upgraded lights and keyless entry!)

    Any thoughts? ANYBODY?
  • E350 4Matic

    Obsidian Black Metallic - $720

    Sport Package

    AMG Wheel Package $760

    Premium 2 Package $6,450

    Rear Spoiler $300

    Heated steering wheel $490

    Rear-seat entertainment system $1,910

    4MATIC Package $2,500

    Total Cost - $65,035

    24 month lease
    12,000 miles/year

    $765 all in with taxes first $1,000 down.

    Any thoughts?
  • Hi Lotterywinner,
    Please remember that a lease is based on only three variables: Negotiated sales price; Residual Value (RV); and Money Factor (MF).

    RV is a fixed percentage set by the MBFS. There is a base rate MF that is suggested by MBFS as well but dealers have the latitude to mark it up as another source of profit. Both RV and MF are based on your model, lease term, and mileage per year.

    The calculations would be as follows,
    Monthly Depreciation = (Cap Cost - (RV*MSRP))/Lease Term
    Monthly Interest Charges = (Cap Cost + RV*MSRP)*MF
    Monthly Lease (pre tax) = Monthly Depreciation + Monthly Interest Charges
    *N.B.: Cap Cost assumes Negotiated Sales Price + Acquisition fee only (i.e., no cap cost reduction or $0 down)

    Assuming that the MF (.00160) that you were quoted is base rate and RV is accurate, I calculate then the monthly pre-tax is ~$772.

    My unsolicited advice on reducing the monthly payment follows below,
    - Don't do cap cost reduction (i.e., make $0) down
    - Negotiate the sales price further and ensure that you are getting any incentives such as Conquest, etc.
    - Consider Multiple Sec Deposits (MSD) to reduce the MF. However, if the MF offered is promotional, MBFS may require you to use a higher MF off of which to assess MSD.

    Cheers!
  • Hi lotterywinner. The car that you are interested in probably has a spread of around $4,500 or so between its full MSRP and its dealer invoice price. Plus Mercedes dealers are being given $1,500 CAP certificates that can be used on it, giving you a total of around $6,000 to play with if you can convince the dealer to use one on your deal. That puts the deal that you were offered at around $700 over invoice, which is a very good deal...particularly in Lincoln Nebraska where there likely isn't much competition.

    The money factor that you were quoted looks great, too. If you like the car, I personally don't see any reason not to go for it.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • Thank you for your help!

    I did not qualify for Conquest but can you please explain exactly what I should say concerning "Don't do cap cost reduction (i.e., make $0) down ". What do I ask for? (it's emailed negotiations)

    Also one last question. I know this goes against all the lease GODS lol but I was considering asking them what the payments will be for a 4 year lease to get my payments a little lower. I know it's not good economical sense but what are your thoughts?
  • Hi Lotterywinner,

    I'm assuming that you are putting $0 down. i.e., you will only pay your first month's payment and any valid fees (DMV registration, etc.) at lease inception/signing. I try to never put any money down or minimize the downpayment because if the car is totalled, I will never see that money again. Additionally, all that matters is the total money that you expend over the lease term. You can do the calculations, and often you will find that even if you reduce the monthly payment by making a downpayment, the total money in under that scenario exceeds the total money in if you made a higher monthly with no down.

    I would only consider a 2 or 3 year lease for several reasons. First, the RV is considerably better for 2-3 year leases as the car will depreciate substantiatlly at 4 years (increasing your payment). Second, MBFS often offers current leasees the ability to waive their last 4-8 payments if they move into another MB's vehicle. Third, the interest rate on a 4 year lease is ~3.8% (=.0016 MF). You could simply purchase the car and finance the purchase at a lower interest rate and subsequently sell the car in ~3-4 years.

    Cheers!
  • That is correct I am putting no money down and OK I will stick with the 3 year lease. Thanks again!
  • steffenreich - I'd be interested to know what dealer you are getting this quote from? MBFS? I've been quoted ~$880 for a E350 with MSRP of $59k for a 12k/36 month lease, first payment due up front. MF .0021.

    Your deal sounds much better...
  • Hi Car_Man,

    Can you or anyone review the following deal:

    2013 E350 Sport 4Matic with premium metallic color Steel Gray, P1 Package, Prepay Service Option for MSRP $59,894 with a net cap cost of $51,794 (reduced by $8,200).

    24 month lease 12,000 miles/year = $560/month (incl. taxes 7% NJ) with $1,900 (incl. first payment, acq, reg and doc fees)

    39 month lease 12,000 miles/year = $620/month (incl. taxes 7% NJ) with $1,960 (incl. first payment, acq, reg and doc fees)

    Can the above deal get any better than this? Thank you for your responses.
  • annu6annu6 Posts: 2
    edited September 2012
    mbslsamg - May I know which dealership is this? Is this with any USAA, mbca discounts? Thanks!
  • Hi mbslsamg. An $8,000 discount on this car is huge. If you can get anywhere near that, plus the use of Mercedes-Benz Financial's buy rate lease money factor of .00148 (top credit tier), snatch it up instantly.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • deenxdeenx Posts: 16
    wow! I'd like to know more too. I can't find anything close to that in NJ. I'm not USAA (which is really starting to pmo)....but ... the 24month is less than the 39 mth??
  • Hi everyone, has anyone negotiated a good lease deal on a 2013 E350 sedan this month with the $2K conquest cash or the $2500 USAA rebate? If so, can you share the details here.

    Thanks
    MarkeMarkee
  • I just got this deal on a 2013 E350 4-matic with metallic paint, P1 and Sport Package - no maintanance. It included the conquest program

    CUSTOMER DISCLOSURE
    Customer Name: Inside Car Buying WD Deal ID: 106587
    Sale Vehicle: New 2013 MERCEDES BENZ E CLASS E350W4 4dr Sdn E350 Sport 4MATIC w/AC , Automatic , Odom: 0


    Payment Details
    Term 24
    Base Payment 506.78
    Total Payment 506.78
    Purchase Option 42,217.50
    MSRP 59,250.00
    Est. Miles Per Year 12,000
    Disposition Fee 595.00
    Excess Mileage Charge 0.25



    Amount Due at Signing

    1st Month Payment 506.78
    Acquisition Fee 795.00
    Fees & Insurance 222.50
    Upfront Taxes 961.16
    Total Inception Fees 2,485.44

    Total Cash Required on Delivery 2,485.44


    Tax Information
    Customer State: New York Customer County: WESTCHESTER
    Type Amount Rate Paid
    Cashdown Tax 64.16 7.3750 Upfront
    Upfront Tax 897.00 7.3750 Upfront

    Fee Information
    Description Amount Paid
    Reg 125.00 Upfront
    Insp 10.00 Upfront
    Other 12.50 Upfront
    DocFee 75.00 Upfront
  • bass_fisherbass_fisher Posts: 16
    edited September 2012
    It seem like a really good deal. Does the monthly payment $506.78 include tax? I am surprised the Mercedes Benz is offering deep discount already for the 2013 model.
  • Hello Insidecarbuy, thanks for sharing.

    What was the agreed to price of car? Also, are you at liberty to disclose the name of dealer? Also what about money factor?

    Thanks
    Markemarkee
  • It looks like about $7000 off MSRP...That's a great price this early in the 2013's. Is this using a buying service (inside car buyer)?
  • Thanks for your advise Car_man. I picked up the car last week.
  • Hi your residual seems pretty high for 12k a year at 71%? I got a quote from dealer (NY/NJ) for 7500mls per year with the same residual. Can anyone confirm the residual for September? Thanks.
  • Hi, with 59k sticker and 42k RV, 0.00148 MF, and 500 monthly payment you are getting $9000 off sticker with sell price around 50k?
  • dl_amgdl_amg Posts: 39
    edited September 2012
    Nice deal, very close to what I got for my 2013 E350W Luxury Pkg w/P1, Parktronic, LaneTracking pkg, split rear seat, keyless Go, wood/leather Steering wheel and comfort box. @MSRP 59,695.00 back in mid-August.

    My deal:
    - 24 mo. / 24000 miles
    - Include 2 year service contract (Service A & B)
    - $1000 total drive off (at signing incl. 1st mo.)
    - $535.78/mo. including $43.11 local tax, for remaining 23 months. Auto pay.
    - $595 turn-in fee when turn in (no charge if lease another MB).
  • You're very welcome mbslsamg. Enjoy your new ride :shades: !

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • Dl amg,
    Can you disclose where I can get this deal?
  • variable229variable229 Posts: 1
    edited September 2012
    My lease was done at for 2013 E350 Sport Sedan at a large SoCal Orange County dealer

    White/Black, Parktronic, Pano Roof, Active Seats, Rear Entertainment, Door Sills, Rear Spoiler, P2 Package, AMG Wheel Package, Sport Package, Lane Tracking

    MSRP $65,695
    CAP $57,622 ($8k off sticker)
    72% Residual, 24mo ~ 10k/year ~ 0.25/mile
    $556 + Tax = $599/mo
    $895 lease acquisition fee + First Month + TTL = $2k Drive Off
    $3k MSD + Autopay = Money Factor of 0.00120
  • If u in SoCal, try Long Beach Internet mgr or Calabasas (where I got mine). Check with my old post for why go LB.

    Based on lease paper, I think I got almost $10k off from MSRP. Dealer applied loyalty rebate 2k, employee discount 2k on 2013, auto pay and extra dealer incentive (towered drive off coz I only put 1k but on lease doc it shows I put $3500 down?!)
  • Thanks. I am in RI. Great skills!
This discussion has been closed.