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Mercedes-Benz E-Class Lease Questions

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Comments

  • kevinc5kevinc5 Posts: 204
    I spoke with a dealer regarding leasing an E350, P1, expecting a $1,500 conquest incentive to be available. As CarMan mentioned above, that has been discontinued in favor of a $4,000 Winter Event credit. How should that be applied? I expected to start negotiating at invoice minus the $1,500 incentive, but offering invoice minus $4,000 doesn't seem realistic. What is a good target price for the car? After all his number shuffling he came up with a cap cost of $53,500, which seems to be about $2,000 under invoice.
    Also, what are the curent residuals and money factor for an E350, 24 and 36 month, 12,000 miles? My salesperson quoted 71%, 60% and .00191. That seems high.
    Thanks...
  • ajkajk Posts: 13
    kevinc5,

    I was quoted 66% and .00121 for a 10K 36 month lease - We'll have to wait for car_man for the "real" numbers, but I think your dealer is definitely padding your money factor.

    I also have the same question about the $4K dealer cash. The dealer I had talked to, said that there is a $1.5K incentive on the E Class - I did not know about the $4K at the time so I did not push back. If invoice minus $4K is realistic, I would definitely go for a Mercedes.

    I hope we can get some feedback from car_man and/or any other members of this forum....
  • kevinc5kevinc5 Posts: 204
    I spoke with the dealer and they admited that they increased the MF to make a few extra bucks. They need thier beer money too, but how much of a boost is reasonable? They also didn't quote the rate for top tier credit since they haven't checked my score yet. That should reduce the rate somewhat. We'll sort that out in the morning.
    The dealer applied the $4,000 credit to the MSRP and dropped another $2,000. We're $6,000 under MSRP and probably about $2,500 under invoice. How are other dealers handling the $4,000? Decisions, decisions.
  • Hi
    can you please post the November 2012 lease rates and residuals for MB E350 coupe and Sedan, and what incentives are available in terms of pricing. I am looking to lease an E350, thank you
  • kevinc5kevinc5 Posts: 204
    I've noticed that when CarMan or others mention lease money factors they note that the MF is available only for the lessors top credit tier. What kind of FICO or other credit score is required to get those rates? Also, do most dealers increase the buy rate MF when doing the lease? What is a reasonable increase and when are you getting ripped off?
    I'm considering a Mercedes lease and need to learn more of this stuff. Thanks.
  • I am working out a deal on a 2013 E350 P1 Pkg, 18" AMG wheel pkg, Convience box, keyless go, blk/blk. MSRP is $57965. The lease would be 24 months, 24k, $750 down total monthly payment $473.64 a month. Is this a good deal???
  • I am sorry the MSRP is $57905, brought down to $48300 monthly payment $441 and $473.78 a month with tax. It also has a rear spoiler.
  • ajkajk Posts: 13
    socalgirl,
    If the $48300 is your out the door price it is over 16% off msrp and a good deal in my view. I was able to get about 15.5% off for almost the same car and had the dealer throw in the 3yr maintenance - you may want to try that also.

    I would also double-check that the dealer is not building back end profit in the lease. Mercedes Benz money factor for this month is .00121 and 71% residual for 12k miles.

    If this all checks out, I'd say this is a nice deal.
  • kevinc5kevinc5 Posts: 204
    Where are thses great deals coming from?

    I'm looking at an E350 Luxury, P1 and some miscellaneous options. MSRP $59,285. No need to get into the numbers but the dealer's initial offer was $6,000 off MSRP. (That was $4,000 off for the Winter Event cash and $2,000 from the dealer.)

    They came up with a 24/12k lease at $638. That's a .00191 MF, by the way. Residual is $71%. Add tax and it is $687.

    We have a way to go...
  • ajkajk Posts: 13
    Sounds like there is plenty of room to negotiate, if you are so inclined. You may want to check with other dealers in your area.

    The money factor you were quoted is higher than the MF for top tier credit of .00121 for this month.
  • Is the floor carpet in a 300 e same as 260e.
    thank you
  • kevinc5kevinc5 Posts: 204
    How did you get $ 9,600 off MSRP? USAA discount? Thanks.
  • The total is actually more than 10,944. The original number did not have tax at 6% included or the $795 bank fee. So it ends up for like 12,000 with the P1.

    Robert
  • kevinc5kevinc5 Posts: 204
    The sales person told me that anything over a 700 FICO is considerd top tier. Is that correct? Does Mercedes limit how much a dealer can increase the published money factor?
  • Happy Thanksgiving! Y'all.

    Carman, a special thanks to you for taking the trouble to share your expert feedback.

    Quick question, I am going car shopping this BLACK FRIDAY 2012 for a MB E350 4Matic COUPE, what should I look for in terms of residual value? money factor? invoice price? and monthly payment? Any Black Friday Promo? for below:

    IN MY HAND is a FLEET CERTIFICATE $2,500 OFF negotiated Invoice price & expecting $599 gift card from MB for Hurricane SANDY effected clients.

    12K/36months with Maintenance PackageE350 4Matic Coupe
    Premium 1 Package
    Rear Spoiler
    Lane Tracking
    Appearance
    Wood Trim
    Tinted Windows
    Premium Leather
    MSRP 61,495

    Thanks.

    - Double006
  • I think that is a good deal. is the 473 including tax? If so even better.I did not know you culd get the keyless ignition unless you got the P2 package. I did not know you could get that with the P1 or it had P1 plus the keyless. I assume by your screen name that you are in Southern CA? Is that a 1 pay lease? If it is month to month, ask them about Multiple security deposits. That might take it even lower.

    Robert
  • Socalgirl

    Sounds like a great deal, may I ask where did you get this deal, I too am in the market to pick up a e350 4matic?
    I like coupe but at these prices I am open to sedan.
    Thanks.

    - Double006
  • Socalgirl

    Sounds like a great deal, may I ask where did you get this deal, I too am in the market to pick up a e350 4matic?
    I like coupe but at these prices I am open to sedan.
    Thanks.

    - Double006
  • For kicks I just tried to get a quote from one of the dealers in the Costco auto buying program. I should say that I have never gotten the best deal on any car I have leased using any of the services from Costco or similar things. The dealer called me and I asked him for a 1 pay lease rate to see where he was at. He was in another world. Completely outrageous. He really didnt like it when I told him I was aware of significant savings on the MSD program or 1 pay. Needless to say I am still looking.
  • What did you mean by dealer not building back end in the lease? Have not heard that comment before.

    Robert
  • kevinc5kevinc5 Posts: 204
    edited November 2012
    My dealer's lease proposal included a separate $1,095 "lease fee". Is it a customary fee? Is that added by the dealer as additional profit or is is a mandatory fee from MB Financial? Should it be residualized?
    They're offering $6,000 off MSRP. That doesn't seem like much considering MB as has a $4,000 dealer cash promotion going on. Am I right? Thanks
  • delta737hdelta737h Posts: 603
    edited November 2012
    Sounds as though your dealer added $300 to the MBFS $795 acquisition fee. You're right, $6,000 off MSRP is not much. A very competitive sell price would be around $4,000 off MSRP before deducting the $4,000 dealer cash. Acquisition fees are not residualized but can be capitalized. Only value-added items that increase the vehicle's value can be residualized.

    When negotiating a lease, always ask the dealer for their LEASE WORKSHEET which will tell you everything you need to know and more.

    John
    TheAutoLeaseGeek
  • abacomikeabacomike South FloridaPosts: 3,892
    The sales person told me that anything over a 700 FICO is considerd top tier. Is that correct?

    That is "incorrect!" Tier 1 credit score is 750+. Over 700 is considered good credit, however over 750 is considered excellent credit.

    Most financial arms of automobile manufacturers are flexible with tier 1 credit - like BMW, Mercedes Benz, Toyota, financial services. But banks are not as flexible, especially on leases. When I was in the business, US Bank leased quite a bit, but was strict in that a credit score had to be 750 to qualify for one of their leases - which were quite good.

    I hope that answers your question.

    2014 Mercedes Benz CLS 550 - best car ever! 2nd best car ever, my 1967 Corvette Stingray Coupe with 435 hp.

  • kevinc5kevinc5 Posts: 204
    edited November 2012
    Thanks. I have a lease worksheet, based on thier initial 12/24 lease proposal, which the salesperson was very reluctant to give me. That included the $1,095 Lease Fee. It also noted that the figures were based on a FICO score of 700. The salesperson told me anything above 700 is top tier. They haven't run a credit check so don't know my score, but last year when I bought my Audi it was over 800.

    They are also using a .00191 MF rather than the .00121 which I understand is MB Financial buy rate. Under normal cuircumstances, how should a FICO of 800 v 700 affect the MF?
  • You asked...

    "Under normal cuircumstances, how should a FICO of 800 v 700 affect the MF?"

    I don't know MBFS underwriting criteria. Different fund providers view FICO scores differently. Top tier rates usually require FICO score above 720 but there is no industry-wide baseline FICO score.

    John
  • Hello, no USAA discount just shopping around letting them fight for my business. Took only 1 day to get this deal and closed it! I am shopping on a $59185 E 350 now for my friend and getting $484 a month w/ $750 down 24 months 12k. I am in S California so we have tons of dealers. If anyone in S CA needs my help let me know. I love to get a great deal!!!
  • Thank you, I closed the deal!
  • I have never heard of lease fees and this is my 5th lease this year I have worked.
  • Hello, yes the $473 is including tax. I have closed the deal!!! The keyless is an option added on to alot of these cars. It was P1, keyless Go, comfort box, AMG 18" wheels (R08 pkg) rear spoiler. I am shopping on a $59185 E 350 now for my friend and getting $484 a month w/ $750 down 24 months 12k. I am in S California. What is a 1 pay lease and month to month??? What is Mulitple security deposits???
  • Double006,

    It was an amazing deal. Are you in S California? The coupes do not have great deals right now. The E and C's are the ones this month. Also, tried to get my friend one in wht/blk and the stock is so limited I am working her a deal on a $59185 E 350 and getting $484 a month w/ $750 down 24 months 12k. If you are in Southern California I can work you an awesome deal. Such an amazing feeling to just see what deal I can get, LOL!
This discussion has been closed.