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Mercedes-Benz R-Class Lease Questions

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  • I just got off the phone with mb financial and in order to get 2 months of payments paid by mb financial, your existing lease would have to expire no later than 12.31.06-I am bummed because my lease matures 1/7/07.. :madimage: ..of course!
  • The loyalty lease acceleration incentive is only good if you are currently in a c or m and rolling into another as well.
  • I just did the standard R-class standard 27 month lease. Unfortunately I just noticed that they put the end date on 07/01/2008 instead of 07/28/20008, giving me usage of only 2 days for the first month, yet indicating I am paying the entire amount each month and the next payment being due in two days. Is this normal?

    Did the dealership rip me off, or will I get an adjustment on the first invoice?

    The lease says the scheduled term is 27 months so in a sense is internally inconsistent.
  • zaheerzaheer Posts: 23
    Hi rclassfan,

    I would call the Dealer immediately and talk with the Finance Manager. Tell him that there is a typographical error in the Lease Contract and have him correct it. If you don't get a satisfactory answer, call Mercedes-Benz Financial. In the 20+ years that I have been leasing from Mercedes-Benz, I have never seen or heard of a Lease Contract that asks for a payment in 2 days. Your lease must end on 7/28/2008 and your first payment should be due on 5/28/06. Let us know how MB resolves this.

    Zaheer
  • rclassfanrclassfan Posts: 5
    Hi Zaheer

    Many thanks for the reply. We went back into the dealership today and they amended the lease such that the first payment is now due in 30 days. However they still refused to change the end date of the lease saying that the "end date" on the standard MB Financial Form is the date the last payment is due and not the end date of the lease, and they always date payments to the first of the month.

    We had a different finance manager and while the original this morning on the phone said it was no problem and he normally writes over this and initials it but "forgot" to in our case, and it is a "glitch" in their system that they cant avoid, the finance manager tonight was incredibly rude and said "well I can't change this at all as MB Financial wont accept it if we do... you can walk away from the lease if you want to and Im leaving now" and he promptly walked out of the office. I went to the GM's office who said he agreed the wording was confusing but he'd never heard of anyone raising it before. In the end he agreed to write a letter stating that while the last payment was due on the 7/1/2008 the car does not have to be returned until 7/30/2008.

    It still seems odd it's not on MB Finance lease agreement but again they point blank refused to change it.

    Once we pick up the car (they didnt get round to do the RMV paperwork today and offered dealer plates but we decided to pick it up tomorrow despite paying for the car on Saturday) we'll follow up with MB Financial directly.
  • scotjscotj Posts: 1
    Is the AMG sport package cool and worth the extra money?

    Unfortunately, I have not seen one with it but considering it as I am trying to negotiate.

    Could you post the dealer info per the rules where you got yours "You may include the dealership name, city and state in your post"
  • zaheerzaheer Posts: 23
    Hi rclassfan,

    I have my Lease Agreement from March 2006 from MB Financial in front of me. On the top left side, it states the date of the lease, the scheduled term, and the scheduled date the lease ends. The "lease end" date is not the beginning of a month or less than the full term of the lease. This form is for California; perhaps the form for your state may be different. However, I would get this resolved with MB Financial now so that you don't run into problems at the end of your lease.

    Zaheer
  • zaheerzaheer Posts: 23
    Hi Shingja,

    I plugged in your figures in the Lease Formula and here are the numbers:

    MSRP $58675
    Gross Cap Cost $47024 ($10,856 below MSRP)
    Adjusted Cap Cost $47,819 (+$795 Lease Inception)
    Cap Cost Reduction - $569.25 (from drive-off)
    Money Factor - 0.00285
    Residual - 70% ($41,072.50) 12000 miles per year
    Payment $480.51 + Tax

    I am making some assumptions here regarding Money Factor, Lease Inception charge and Residual. Your Residual, I believe should have been 72% based on 12K miles. If it is 72% ($42,246), the payment is $440.39 + tax. Check your Lease Agreement for the Residual Value (Section 6d). This will help to pin it down further. There is at least another $500 in the drive-off; I am not sure where that went.

    It looks like a good deal. It would be nice for you to understand how they came up with the numbers.

    Zaheer
  • qkslvrqkslvr Posts: 34
    Shingia,

    Looks like you got a sweet deal. Did you go through any particular website, or did you just email several dealers with your requirements? I'm looking for a similar deal in Texas.
  • fq1fq1 Posts: 47
    for the MVP program/DC employee program.

    Thanks.
  • qkslvrqkslvr Posts: 34
    I tried that page, but they didn't have any dealers to use. I just negotiated my deal by emailing a couple of local dealers back and forth.
    2006 r350 Barola Red and Macademia
    panorama roof pkg
    comfort pkg
    entertainment pkg
    rear side airbags
    3zone climate control
    upgraded wheels
    heated seats (no need in TX)
    power liftgate
    msrp 57905
    selling price 50700
    total driveout $2340
    27 month lease 12K miles @ $599 money factor .00280
    In effect, they credited $3500 off driveout for sales tax (texas charges full sales tax upfront), so total discounts work out to $10700 off MSRP. Picking it up Monday!
  • jayhawk90jayhawk90 Posts: 2
    I've certainly learned a lot about the R class lease form this board, but I've had problems finding cars in my area. Every dealership in a 400 mile radius is out of loaded 350's. This has restricted me from bargaining a better offer than the current May lease deal since the dealer has to find an out of state car. My offer is:

    2006 R350
    MSRP $62370
    Initial cap cost - $60,701
    Rebate - $5,000
    Cap Cost Reduction - $1,100
    Money Factor - 0.00285
    Residual - 73% ($45,530.10) 10,000 miles per year
    27 Months
    Payment $624.90 +

    $2,858 walk off ($624 first month + $300 tax + $795 Acq. Fee + $1,100 cap cost)

    It's exactly the lease offer and is not the best deal compared to the one's on this board, but out of 4 dealerships we called, none had a car with more than a few options. :cry:

    Should I pull the trigger?
  • arman1arman1 Posts: 1
    I just signed a lease for R350 Black/Black with Premium Pkg. and Heated Seats. Wanted to get forum's opinion on the deal I got:

    $54,685 MSRP
    $51,079 Edmunds.com Invoice
    + 500 Dealer added to invoice for advertising fees.
    DO I need to pay this? Is it part of invoice?
    --------
    $51,579 Dealer's invoice price
    -$ 5,000 MB Incentive
    -$ 1,750 Discount of Dealer's invoice
    ---------
    $44,829 Gross Cap. Cost
    +$ 795 Acquisition Fees

    I went for one payment lease that brought down the money factor to .00175. 27monthe, 27000 miles, .72 residual

    My questions:
    1. Are $500.00 advertising fees negotiable? Is it really part of the dealer's invoice?
    2. There is $150 fees I will have to pay if I decide to purchase at the end of the lease (line 9 of the lease agreement). Is it standard. Can I have them take it off?
    3. Is $795 lease acquisition fee negotiable?
    4. Is $595 lease turn in fee negotiable?
    5. Is $45 doc fee and $25 DMV fees standard.
    6. I read somewhere that a .00150 money factor was available for one pay lease. Is that true? My dealer offered me 0.00175.

    I would appreciate your feedback if you have knowledge about the R350 recent lease.
  • mike2555mike2555 Posts: 13
    Can anybody tell me what the money factor and residual values are for a 36 month lease with 10K and 12K miles. Thanks
  • jwilliams2jwilliams2 Posts: 883
    Having just gone through this, maybe I can help.
    1. The adv. fee is in fact part of the invoice.
    2. The dealer certainly can not change the lease agreement.
    3. The $795 Acquisition is charged by MB on all leases.
    4. $595 is waived only if you lease another MB at the end.
    5. DMV charges are set by your state, and should be easy to verify.
    6. Standard money factor on the R Class is .00285, didn't do a single pay, yours sounds good.
    There is $5000 dealer cash on this car plus the 7% markup. Looks like he is already bleeding on this deal.
  • caa1caa1 Posts: 6
    Hello - looking for feedback on this deal. Was offered the following on an R350:
    MSRP - $56305 w/Prem Package, Htd Front Seats and Parktronic
    Neg Price - $45,305

    If I plug this into a lease calculator I am using the correct assumptions below based on the promo?

    Money factor - .00285
    Cap cost red - $1100
    Acquisition fee - $795
    my state sales tax - 5%
    Residual for 1000 miles per month - 72%
    Term 27 months
    Based on this I get a monthly of $429.42 - seems too good to be true. Is this correct??
    thx :D
  • fq1fq1 Posts: 47
    located in since you are getting such awesome deals. Please send me your dealers' names as I am also in the market for one of these vehicles.

    Thanks.
  • bits1bits1 Posts: 6
    Wanted to get all of your thoughts on the following deal - I am signing a one-time lease deal for an R 350 with standard sunroof package, rear seat airbags and power liftgate. Sticker is $52,000 and negotiated price for lease is approximately $43,500.

    I will make a one-time lease payment of $10,650 which includes all taxes (New York City) and fees (other than the $595 dispo fee) for a 27 month, 7500 mile per year lease (I think residual is 74% and money factor is .00175). Works out to under $395 a month (not taking into account the lost interest on my $10,650 or the dispo fee, which could be waived if I lease another MB).

    I think this is a pretty good deal as it includes the taxes and other fees.

    Please advise.

    Thank you
  • qkslvrqkslvr Posts: 34
    bits1,

    looks pretty good from here. Using your 74%residual and.00175 rate, cap cost is @ $45200 for a $395 monthly payment. So your taxes and fees work out to $1700. I don't know what your tax rate is, but in effect, you are getting it for about $5k under invoice. The difference between one time and monthly @ .00275 is Approximately. $90/ month.
  • alex15alex15 Posts: 11
    What if the car gets stollen?
  • roger25roger25 Posts: 2
    I have an initial offer to sell to me a fully loaded and I mean fully loaded R500. But I don't know how to use or calculate your formula. I don't know how to calculate the monthly depreciation or monthly rental rate. The information that I have so far is
    MSRP $66,850.00
    Sales Price $57,350
    miles per year 15K
    residual 59%? (I think)
    MF .00285? ( I think)

    Can you help me guess what the monthly lease rate would be and possible out the door costs at 8.75% sales tax. I have not established a down payment yet.
    Any help you can give is appreciated. By the way I think this is a very helpful site
  • qkslvrqkslvr Posts: 34
    I'm guessing this is for a 36 month lease based on the 59% residual @15k miles.? About $775-$900 is my guess depending on what you put down. $775 is the cost for $57350, then you add sales tax and any fees for registration, acqusition, etc. These can be added to the payment or paid as a down payment.

    There is a free lease payment calculator at http://www.leaseguide.com/calc.htm
  • howiehhowieh Posts: 3
    Does this deal look good? What I am afraid about is that they are going to try and get their money out of my 2002 Subaru WRX Wagon with 36000 Miles on it....What is the minimum I should be getting for my trade if the car is in perfect condition?

    Here is the deal below

    MSRP is $59390.00 and your price is $50190.00 Exterior is Barolo Red with Macadamia leather (code #104)

    Options are #220 Parktronic #293 rear side air bags #323 Heating pkg #326 Premium pkg #536 Sat.Radio

    #575 2nd row center console #581 3-zone climate control.

    Lease payment 27 month w/10000 miles $566.54 per month ,residual value 73% @ $43354.70

    Total out of pocket $1711.59

    One pay lease $13413.31 for 27 month w 10000 mile per year ( including bank fee and MV fees)

    Money factor is 0.00175
  • bits1bits1 Posts: 6
    Wouldn't this be covered by my auto insurance?
  • cyberbrocyberbro Posts: 8
    Hello
    I have a difficult question that if someone with a lot of lease experience can help me with, I would really appreciate.

    I just leased a R350 and love it. I got a great lease from a Benz dealer. The cars sticker was $57,100.00 the out the door price with all the discounts and rebates was around $49,000.00 so the payment for 27 months is around 500.00 with tax and all.
    Now the residual was at 73% or 74% but I see the purchase price at the end of the lease is about 41,000.00 so it seems to me that they figured that price from the sticker and not the negotiated price.

    I may want to by this car at the end and that would mean I paying about 5k more to do so, then if you take the out the door price and figure it should be a payoff of about 36,000 at the end

    Am I incorrect or is the deal shady or what?

    Thanks so much.
  • howiehhowieh Posts: 3
    There is nothing shady going on--MSRP is what residual is based on...that is why the lower your negotiated price and the higher the residual, the better the lease deal.

    If you were to get your 36000 dollar buy out price...then your lease would jump by another 5K over 27 months plus interest.

    Hope this explains things
  • cyberbrocyberbro Posts: 8
    Yes this helps Thanks.
  • qkslvrqkslvr Posts: 34
    cyberbro,

    Keep in mind that the remarketing department will contact you near the end of the lease. There may be an opportunity then to buy the car at a lower negotiated price, all depends on the resale value after 27 months. It's cheaper for MB to sell it to you rather than pay to have it inspected and resell it at auction or on the dealers' lot.
  • cyberbrocyberbro Posts: 8
    Great thanks.
  • maxxiemaxxie Posts: 8
    Does anyone know if there is any new deal for R Class? I missed out the May deals by couple of days.
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