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2013 and earlier-Mercedes-Benz M-Class Lease Questions

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Comments

  • newbie38newbie38 Posts: 15
    As usual thanks Storm.

    I live in NYC. The APR is the money factor x 2400 which in our case is .00133.

    I read somewhere on here that the money factor should be as close to the financing option which is 1.90 for 36 months. The dealer indicated he cant budge on this and I wanted to know if he was telling the truth.

    Im under the impression that he may only come down a few hundred bucks and will not budge on the money factor....

    Should i pull trigger?
  • storm10storm10 Posts: 175
    Offer $1,500 under invoice and see if he agrees. If not, make the same offer to near-by dealer. If he agrees - then the deal is good enough to take advantage of. Dealer can not give you anything below "buy rate" - the rate he is buying from MBF. So there is no way he can lower it, unless he wants to loose the company money. 0.00133 money factor is one of the lowest I've ever seen anyway...
  • newbie38newbie38 Posts: 15
    Thanks Storm. I was advised to wait til May if I am in no rush.
    Dealer thinks the deals will be better...
    not sure how so but guessing they may have dealer contributions or something like it.
    i guess ill wait a few days.
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi cquenz. The rates that are mentioned in this discussion are usually for consumers who qualify for Mercedes' top credit tier.

    In case you're interested, Mercedes just introduced its new May lease program today. Its new buy rate lease money factor for a 36 month lease of a 2010 ML350 4Matic is .00112.

    Your vehicle's mileage allowance will not have any impact upon its money factor, but it will alter its residual values. MB Finance's 12,000 mile per year residuals are 2% higher than its 15,000 mile per year residuals. Its 10,000 mile per year resids are 3% higher than its 15k resids.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi agg1997. I'd be happy to use Mercedes' new May lease program to work up a sample lease payment on the exact truck that you are interested in for you. Just let us know what the its MSRP and approximate selling price (or at least its MSRP and invoice price) are and I'll crunch some numbers for you. Those numbers are available over in the New Vehicle Pricing section of Edmunds.com.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi s9r9d4. Mercedes just introduced its new May lease program today. Its new buy rate lease money factor and residual value for a 36 month lease of a 2010 ML350 4Matic with 15,000 miles per year are .00112 and 51%, respectively.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Greetings newbie38. Manufacturers' official advertised payments usually leave a little meat on the bone so to speak. I would not be surprised if you were able to negotiate a similar deal to the one that Mercedes is advertising right now on an ML with a few more options on it. Shoot for a selling price that's as close to dealer invoice as possible.

    Mercedes just introduced its May lease program today. Its new buy rate lease money factor and residual value for a 36 month lease of a 2010 ML350 4Matic with 15,000 miles per year are .00112 and 51%, respectively. This is the lowest possible factor on this truck right now.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • newbie38newbie38 Posts: 15
    edited May 2010
    I pulled a trigger on the last day of the April deal. For a 10K/year lease, the May deal has a lower residual 54% vs 56%. It equates to $10 more a month for May, so my dealer advise me to sign up yesterday.

    I signed up for a 4matc with a MSRP of 56,135 and selling price of 51,751. this is a little over a $1K below dealer invoice. they would not budge any lower and since we the car had all the options we wanted, we just signed it up.

    Is this a decent deal? please tell me yes.. LOL.

    As for the taxes paid up front, how do they calculate that? in haste of signing to get April deal, i neglected to see how they calc the tax.
    I thought you only pay tax on the lease portion of your car (monthly payments * 39 * tax rate). Mine came out to a little more.
    They also charged me additional 75 dollar in dealer fees. wonder if i couldve negotiated that.

    Either way, great forum and I was armed with all the info I needed to go negotiate.
    Thanks All.
  • storm10storm10 Posts: 175
    As I predicted in my post #741 - most Mercedes-Benz residuals dropped today - which is not very good news for leasing.

    Even though MBF lowered some rates as well, still - ML350 lease will be about $10 more per month in May than in April - which is not a huge difference anyway. On the bright side, ML450 Hybrid leasing program has improved dramatically.

    But the BIGGEST savings in May comparing to April are on CLS550 and R-class. You can see all of the Mercedes-Benz financial specials here: May, 2010 Mercedes-Benz Finance and Lease Specials and see the breakdown of what changed in May from April.
  • jayriderjayrider Posts: 3,295
    Low residuals coupled with decent money factors can make an attractive lease to buy scenario. If you still like the truck after the lease ends, you have the opportunity to purchase it at a great price. Just a thought.
  • storm10storm10 Posts: 175
    That's true. You pay 10 bucks more, but you can own this car at the end of the lease a lot cheaper.
  • absolutrajabsolutraj Posts: 3
    I am looking at an ML350 with Premium 1 package, appearance, lighting packages + running boards. The deal I am getting is:
    MSRP - 57785
    Capital Cost - 52,308
    Money Factor .00112
    39 month lease.
    53% residual with 12 k miles

    $5000 total due at signing.
    Monthly: 574.33 + tax ($630 or so)

    Is this a pretty good deal. Any ways to get this lower?

    Thanks in advance. :)
  • jwilliams2jwilliams2 Posts: 856
    Just guessing here, but does "icb" in your user name stand for inside car buying?
  • absolutrajabsolutraj Posts: 3
    Nice Catch J Williams. :-)
  • nola2nola2 Posts: 9
    I am basically between two cars, and one of them is Mercedes ML that I would like to lease for 36 months/15,000 miles per year. I informed the dealer that I would need navigation, parking censors and camera, and here is the lease price quote I received.

    "For a Premium 1 Package with heated seats and Parktronic.
    39 month 624.74 + tax 15K per year
    39 month 686.19 + tax 18K per year
    $5000 Drive off"

    Please comment if it is high, etc. What would be a fair payment for at least 15,000 miles per year. Also, I do not like the amount of the drive off - 5K.
  • jb2ujb2u Posts: 8
    Deal on the table is for a 2010 ML350 W4/AWD with
    - P2
    - Heated Seats
    - Appearance
    - Lighting
    - Running boards
    - prewire (for rear seat entertainment)

    MSRP - $58525
    Capital Cost - $52000
    Money Factor = .00112
    Term = 39 month lease
    51% residual with 15k miles

    About $2200 total due at signing and they are closing out my existing ML350 lease a month early.

    Monthly: $709 n change (waiting on exact number)

    also includes maintenance plan and all weather mats

    .... is this good or is there more to be negotiated?
  • landrover1landrover1 Posts: 15
    Great car and dealer:
    Equipped with:
    Metallic Paint
    P1 Package
    Appearance Package (20" wheels)
    Heated Front Seats
    Roof Rack
    MSRP: $53,200
    Service Package
    39 month lease 15,000 miles
    $604.00 which includes sales tax and drive-offs of $2000.
    Had the USAA $3000 discount
    Love the car!
    Thanks for the boards help!!
  • newbie38newbie38 Posts: 15
    HI all. I paid the dealer for tints on the front windows on my lease.
    Anything i need to worry about when returning the car? will i be charged to remove them? or any other things i should look out for when doing after deal add ons?

    thanks!
  • icb2779icb2779 Posts: 25
    Thats a great deal. Are you getting any fleet discounts? Which dealer are you getting the car from?
  • nola2nola2 Posts: 9
    I negotiated a great deal on another SUV, but recently discovered Mercedes ML, which would suit our needs better. I have to tell the other dealer my final answer today, and need to know realistic discounted lease quotes I may expect on ML in May in Northern California for Tier 1 credit for 15 or better yet 18,000 miles per year.

    Carman or other experts or those who recently got a great lease -- what is the best I can expect with nothing down for:

    MSRP of $56,800 for regular ML350 or

    MSRP of $56,830 for 4Matic: (not sure of ot matters as MSRP is almost the same)

    A dealer told me that if I were to lease ML450Hybrid well-equipped for 60 months, it would drop my lease payments to $600 plus tax per month with minimum drive off for 15,000 miles per year plus tax or for $650 +plus tax for 18,000 miles per year. But it seems way too long to lease a car, not to mention warranty concerns. No one gave me any detailed numbers to calculate money factor. Hoping to learn the info from this board.

    Thank you.
  • storm10storm10 Posts: 175
    Anything that you ADD to the car - you will not be charged when you return your car from the lease. Anything that you MODIFY the car (for example: lower suspension or replace original Sound system...etc) has to be returned to the original condition.
    So, you don't need to remove window tint at the end of the lease.
  • kyfdxkyfdx Posts: 28,703
    Realistically, you'll be near $800/mo., including tax (9.5%?) on the Mercedes ML 4WD, assuming 39mo. at 15K/yr mileage.. with a minimal amount upfront ($1500 or less). If you get a killer deal, it might be $50/mo. less than that..

    And, you are correct... a 60-month lease is just nuts...

    I want a Mercedes, too, but that's a lot of money!! ;)

    regards,
    kyfdx

    MODERATOR
    Prices Paid, Lease Questions, SUVs

  • storm10storm10 Posts: 175
    "I have to tell the other dealer my final answer today, and need to know realistic discounted lease quotes I may expect on ML in May in Northern California for Tier 1 credit for 15 or better yet 18,000 miles per year."

    The best way to get the best deal: is to shop around. Request quotes from multiple dealers over internet. You don't really need detailed numbers to do that. All you need to ask is: How much is TOTAL DRIVE-OFF (out of pocket - all inclusive) and HOW MUCH IS MONTHLY PAYMENT (including tax). This will make your life easier and you don't end up negotiating rates, fees and other conditions and terms - which can be tricky. Care only for the BOTTOM LINE and make Dealers compete to earn your business - by requesting quotes from multiple Dealers. You can do it here: Request Mercedes-Benz Price Quote anywhere in USA, this link will give you access to ALL Mercedes-Benz Dealerships in the USA. Obviously, request more than 1 quote.

    By the way, the best term for ML Hybrid is 39 months. 60 month lease is waste of money.
  • nola2nola2 Posts: 9
    Thank you for the information! I emailed just about every dealer hours ago, and...did not receive a single email or a phone call back with any lease quotes. So I will give it a few more hours to wait for the responses, but then will most likely let the other dealer know we would be buying a car from him.
  • jayriderjayrider Posts: 3,295
    check overstock and autoblog to get prices and offers. May give you some info to compare offers.
  • storm10storm10 Posts: 175
    When requesting quotes, did you provide your phone #?
    If not, Dealers usually respond within 24 hours to any e-mail communications. They respond faster if you provide your phone#, because they think that you are so-called: "more serious prospect". Also, make sure to spell your e-mail address correctly, otherwise they will not be able to respond.
    If you need car immediately - right now, then I think it's too late to shop over the internet. It's a good way to shop if you have at least a few or more days before making a decision.
    Hope it helps.
  • alice321alice321 Posts: 3
    ML350 4MaticOriginal
    MSRP: $56,345
    Discounted Price: $51,837
    39 month lease with $2000 Drive Off
    15K miles per year: $739 + tax
    REsidual: $26,785.95
    Money Factor: .00147
  • alice321alice321 Posts: 3
    if not, which numbers would make it a great deal?
  • icb2779icb2779 Posts: 25
    Check your money factor........ doesn't seem to be correct. Still have more to go with the selling price...... you should be somewhere are $649 per month + tax. Drive off should be in the low $1,500 range + cost of plates. Let me know how you make out......... :D
  • icb2779icb2779 Posts: 25
    What state are you buying in? Some dealers in certain states are more flexible than others.
This discussion has been closed.