Howdy, Stranger!

It looks like you're new here. If you want to get involved, click one of these buttons!





Mercedes-Benz E-Class Lease Questions

13536384041108

Comments

  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Greetings hecara. Since you are new to the world of leasing, you definitely should check out the following informative articles that are available here at Edmunds.com prior to visiting any dealers: 10 Steps to Leasing a New Car and Calculate Your Own Lease Payment.

    In short, to me the best way to get a good deal on a leased vehicle is to comparison shop for the lowest possible selling price for the car that you want and then have the dealer use its buy rate lease money factor to calculate your payment.

    Check out the articles and let us know if you have any other questions.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    edited March 2010
    Hi letsgo1. Are you talking about a Lexus ES 350 or a Mercedes-Benz E350? I assume that you meant the latter. $500 under dealer invoice is an excellent selling price for a 2010 E350. The money factor that you were quoted is right on the money as well.

    If you like the car, I personally don't see any reason not to pull the trigger on this deal. The only thing that I would change is to reduce the amount of money that you are paying at lease signing. I always advise consumers to put as little money down as possible on leases. Consumers who make large down payments when leasing risk losing part or all of that money if their vehicle is totaled in an accident or stolen and never recovered.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • Does anyone know what the incentives are for March or if they have not changed at all? Getting ready to lease a new Eclass but want to make sure I've got all of my info before I start hammering them for my deal! Thank you!!
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi buddyluv1. Mercedes is scheduled to introduce its new March programs later on this afternoon. Post a quick reminder for me in a day or two with the exact information that you're looking for and I'll let you know what I have been able to find out about the new incentives.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • halblatthalblatt Posts: 1
    Any word on any new E350 Coupe incentives or lease rates coming out this afternoon?
    Any cash incentives coming? Any change in the lease MF or RV?
    Also, I remember a few years back on a 51 month lease MB was allowing an extension of 3 months to 51 with the same residual as the 48 months lease, is that option still available?
    One last question, I've seen the ambassador program mentioned in a couple of forums, any details on what that program offers or how to get the benefits? Thanks.
  • Car_man
    Hi- I'm just coming off of a C class lease and wanted to move up to the E350- at a reasonable lease.
    Looking for
    39 month
    12k miles
    What do the March numbers look like and what incentives are available. how much are they giving for dealer loyalty.
    Finally, I've seen Mercedes dealer sites mention fleet rates for employees of certain companies- including the company I work for. Any idea what the discount is this and what is the requirement (simply employment?)
    Thanks,
    Frank
  • golfhardgolfhard Posts: 16
    Regarding fleet discounts, i just used one for a new E350 sedan purchase. it was $1000 off. different MB models have different discounts. If your employer has a "company store' site, you can download the form and then call MB for an authorization code. you will also need some form of proof that you work for Co. like a recent pay stub...
  • dannye350dannye350 Posts: 28
    I talked to a salesman yesterday about a Mercedes E350. According to him nothing has changed for March in regards to MF or Residual. No incentives. It looks like we might have to wait until May or June when 2011 start appearing.

    Im also in the market for a new E-Class, but dont like that MF. People who are getting these car at invoice are still paying a high price per month, just because of that MF. When they lower that money factor people should be able to lease a E-Class for low to Mid 6's.
  • jayriderjayrider Posts: 3,342
    Being the new model, the E doesn't seem like it has much lease support. I think there is enough corporate leasing coupled with decent sales to keep MB from sweetening the lease rates. They are sitting pretty with the new E. That will likely change but I would still be wary of the first year of any new car remake including MB.
  • The best MF anybody has offered is .00259, which is essentially a 7 percent rate on 10k miles with 59 percent resid. Too high for people with excellent credit. Going to wait.
  • outieoutie Posts: 42
    Hi Car_man, I was wondering if you have the March lease program yet? I would like to know what they're offering this month on a E350 sports: Residual & MF, 10k miles, 36mo. Thank you very much!
  • Thanks everyone for the invaluable information.
    Just closed on 2010 E350
    P1
    Wood Wheel
    57280 MSRP
    52000 negotiated price
    Lease loyalty and fleet discount applied
    4k drive off due for cap cost and first payment and fees
    585 per month with taxes.
    I think, hope, I did pretty well considering the money factor.
    Beautiful car.
  • dannye350dannye350 Posts: 28
    Is the Negotiated price with the fleet discount and lease loyalty?
  • marasco0815marasco0815 Posts: 6
    edited March 2010
    No- I'd never be able to get that number per month without discounting from the 52k negotiated price with the current interest rates.
  • dannye350dannye350 Posts: 28
    edited March 2010
    Also what are the Terms, Money Factor, Residual, mileage a year for the lease?

    What dealer and state?
  • 39 months 56% residual .00245 mf. 12k miles in NJ.
  • e350sace350sac Posts: 2
    If I am not going to buy the car after the lease ends, why do I care about anything other than the monthly payment and the down payment?
  • e350sace350sac Posts: 2
    If I am not going to buy the car after the lease ends, why do I care about anything other than the monthly payment and the down payment?
  • jayriderjayrider Posts: 3,342
    By knowing how your monthly payment is figured you can evaluate how it compares to similar makes and if you are getting a fair shake.
  • Hi Car Man,

    Just a reminder to see if you found out anything in regards to new deals on the E350 Coupe? Incentives, lease specials, M.F., etc. I have an E350 lease coming due at the end of April and I'm trying to decide whether or not to lease a new one or purchase the 07 I have now. The problem is my payment now is only $515 including tax, total drive-off was $2600 on a 33 month lease, msrp was $54,000. I don't want my payment to skyrocket so I'm I've been hammering a couple of dealerships for a deal very close to the one I have now...don't care what my lease term is though.
    thanks!
  • sw1000sw1000 Posts: 1
    Hey Car_man,

    Hope I'm asking you this question in the right place!

    I'm a pretty clueless buyers, looking to lease my first Mercedes... I've always been screwed on my leasing payments from BMW in the past! Looking to get it right this time with an E350 coupe, black/black, with premium package.

    My local dealership has offered me the following:

    + CAR TOTAL: $54,825
    + MY PRICE: $50,149
    + Lease for 36 months, 10,000 miles per year: Drive-off of $1,648.39.
    + Monthly Payment is $797.58 plus tax (I live in CA)-- total $875.25/month.

    Is this a good deal? How do I figure out what a great deal is? Not sure what I need to be negotiating... any help or advice would be much appreciated!
  • jayriderjayrider Posts: 3,342
    Your lease is bad. Fact is leases on the new E are all bad. MB is basking in the glow of the new model and enough people are going ga-ga over it that if you want to lease one you are going to get crushed. Once things settle down in 6-8 months it might be a different story. Check Audi A4. The A6 may be tough as well but the 4's have decent lease rates. Ridewithg.com is a good resource.
  • I am not car man, but on your MSRP, you should without too much effort be able to do no worse than 690/mo on a 39 month lease with 2000 in drive offs before taxes. You are about $100 too high per month based on the current money factor. For whatever reason, they can do better on the 39 month lease than the 36. I think you might do somewhat better than 690, but that depends upon your negotiation skills. Good luck.
  • Agree, though dealers will get you right to the invoice or better on this (before loyalty and fleet), the imputed money factor is almost 7%. The dealer can only do so much with the MF, so these are expensive right now. FWIW, I picked one up last week and it is amazing.
  • poorprofpoorprof Posts: 109
    Hi SW:

    I am not Car Man either, but I can tell you the deal you talked about is WAY too expensive and you can do easily $50 a month better. What city in CA do you live in? My coworker leaed a similar one in LA for a better price,
  • ob995ob995 Posts: 40
    Not sure where you are getting your info or if you are confused but their are no incentives at all on E-Class Coupe the money factor is a total joke on these cars and in most cases it makes more sense to buy them currently over leasing them. The loyalty discount only applies to E-Class sedan and not coupes. Sure if you work for the right company or are a USAA member you can get the fleet discount of $2k on any E-Class on top of whatever discount you can get but that is a about it.

    MBF is a total joke when it comes to E-Class Coupes, the Money Factor .00305 on 36 months which comes out to 7.32% comparable interest rate, MBF charged 5.9% up to 36 months on purchases while BOA charges 3.2% up to 60 months and Chase charges 3.5% up to 72 months.
  • ob995ob995 Posts: 40
    edited March 2010
    I would like to see that Benzrover considering their is no lease special on 39 months on a E-Class Coupe currently. The 39 month lease is not cheaper than 36 month lease like on the Sedan where the Residual and MF remain the same on a 36 or 39 month.

    On a E 350 coupe 36 month lease with 15k miles has 56% residual vs 39 month lease with 15k miles per year has 54% residual and both have a MF of .00305 vs on E 350 Sedan currently MBF offers the same 56% residual and MF of .00270 on both 36 and 39 month leases. Which allows the depreciation to be divided by 39 months over 36 months lowering your payment. That is not the case currently on coupes.

    Like I said in my post above, currently it makes no sense to lease a Coupe at all considering the residual are so low and going to a 3rd party bank like BOA or Chase can reduce your interest payments by over 50% over what MBF currently charges you on a lease.

    Lets assume car purchase price was $55k(sticker just make numbers easy) over 3 years the difference in 3.5% interest alone would be $5775. MBF is already discounting the car down to 56% of MSRP which means they claim the car will be worth $29700 by purchasing and getting a cheaper interest rate your break even point on that car would be $23925. If you buy the car and are able to sell it for more than $24k basically after 3 years then you were better off buying it over leasing it.

    Also remember if you get a discount on a purchase price that directly effects your break even point as that will lower your break even point by the amount of the discount, If you get $5k off MSRP that reduces your break even point by $5k. Lets be honest chances are in 3 years you will be able to get more than $20k for this car and chances are closer to $30k. If you put down 10% and do a 60 or 72 month finance on purchase and are able to save $10k between interest and discount chances are you will be able to cash out with your down payment and some equity and your payment should be very close to what you would pay for a lease currently as the E-Class Coupe leases are basically a rip off right now.
  • I stand corrected. My information relates to a sedan, not coupe, and if it as bad as ob995. Frankly, unless you can really cut a good deal with fleet, or loyalty, it also makes more sense to buy the sedan too.
  • ob995ob995 Posts: 40
    edited March 2010
    benzrover currently if you qualify for both loyalty and fleet discount, you can get a hell of a deal on any E class sedan. Easiest way to get the max discount is if you are a USAA member, as you will get the car at invoice, plus the fleet discount and loyalty discount if you are a current MBF customers.

    Remember to get the loyalty $2k credit applied you just need to be a current MBF customer. Then their is the $2k fleet discount on top of that. And Sedan can be bought currently for around invoice. So basically you can get into an E Class Sedan for $4k below invoice fairly easy.

    Then MBF currently offers both a lease special which allows you basically extend the lease by 3 month without effecting your residual or MF. So between getting basically a $9k cap reduction from the discounts available on the sedan and ability to have the depression divided by extra 3 months that effectively allows you to get your payment down to around $600 per month + tax for a loaded car pretty easy and depending on basic car down under $600 with tax even.

    Then MBF also is offering 1.9% for 36 months on a purchase as well and remember you are buying a $55k car really for about $46k. If you are able to sell that car in 3 years for $30k then your effective cost even after interest costs would be $500 a month.

    The million dollar question is what will the car really be worth in 3 years. In my opinion the risk/reward on the E-Class Sedan is not worth buying over leasing as your payment will be much higher per month and because of the specials, lower money factor and higher residual it really not worth it in my opinion.

    Problem with the coupe is even for USAA members max discount you can get is $2k under invoice, so the real difference is $2k in the purchase price. Then because their is no lease special at all on the E Coupe your payments end up being around $800+ tax for a car worth the same amount as interest rate is 1% more than Sedan which equals over 3 years an extra $49 per month and dividing $24200 over 36 vs 39 effectively means you are paying an extra $84 per month and the loyalty discount of $2k basically adds $61 per month to the lease.

    If you are able to buy the car for $2k below invoice as USAA member for example you are able to get a $55k E 350 coupe for $48000. Then you use BOA or Chase get 60/72 month payment, put down $5k(both require 10% down, remember that number could be higher based on taxes in your state as I added no taxes at all) required for that rate and your payment ends up being $789 per month for 60 months or $679 per month for 72 months.

    Again my whole theory is based on the fact you are able to sell the car for $30k after 3 years. If you are able to get $30k after 3 years, you would own $19750 or so. Meaning you would get back $10250 back or an extra $5250 over your down payment effectively reducing your monthly payment by $150 per month or making it cost you about $640 per month.

    Again if you are unable to sell the car for $30k after 3 years it will cost you more as you could be even be upside down on the financing or might not get your full down payment back either.

    In my opinion on the Coupe the risk/reward is their because if MBF is correct on the residual then you are saving about $5k buying over leasing which is about 10% of the purchase price vs on the Sedan most the you will save if MBF is correct on the residual is about $1200. If MBF is off by $3k on the residual which is basically 5.5% of MSRP you were better off leasing the sedan over buying it vs on the coupe you are still ahead even if MBF is off by 5%.

    I want to be very clear, I am not claiming the car will be worth $30k in 3 years, I am just agreeing with MBF residual as being fairly accurate if that is the case, then buying coupe over leasing seems to be a no brainer.
  • thaisayzthaisayz Posts: 1
    Hey i just came back from the dealer and they had a 2010 E coupe that a guy returned it with 8000 miles on the car , he wanted to get a 4 door. So the salesman say that price on the E Coupe he turned it is at $49k that guy got it for like 56k he said. What kind of deal you think i can get out that E coupe that guy returned? I don't know what options he had on there but it was @56k when he got it.
This discussion has been closed.