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Mercedes-Benz E-Class Lease Questions

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  • slickbond007slickbond007 Member Posts: 18
    Hi,
    Lots of folks have mentioned the conquest rebate of $4K for owners of BMW, Audi etc. What does the dealership check for? Does the vehicle registration be on the same name and address as the new buyer? Or is it ok that a family member (wife or brother) has a BMW ? Thanks for all the help. This is a great forum.
  • pitbull666pitbull666 Member Posts: 13
    Shawn,

    sounds like a great deal. Can you confirm the residual and MF and who was it at hoi that did the deal so I can go in and try to get the same.
    By the look of your car it appears like you got P2 and a bunch of extras?

    I'm thinking if I got just p1 and a few less things i could probably get off a little cheaper. The deal was done in August with the new #'s right?

    thank you
  • alexandervalexanderv Member Posts: 24
    Hello Car_man,

    Would you be able to tell me if any of the following discounts can be combined together?

    Conquest Cash($4k), Owner Loyaly($1.5k), USAA($4k)

    Thanks...Alex
  • shawn757shawn757 Member Posts: 204
    My residual was 75% for 15 K miles and money factor was 0.00230 with autopay. This was back in July. Aug programs changed so I don't know the values. seems from the add it has become better than last month. I don't know. Board rules say not to mention names. I wil PM you the name
  • shawn757shawn757 Member Posts: 204
    Can you email me at shawnmc1980@hotmail.com

    I will email you the name of the sales person
  • fatcat71fatcat71 Member Posts: 75
    Just dropped a deposit on my new Car.
    2011 E350 4Matic, sport. Prem 1, rear spoiler, 18"AMG, Fold Down back seat.
    47.500 Sale price (USAA eligible)
    900 down (first and tags)
    609 a month.
    33 months 15K per
    MB White Plains, ask for Jen.
  • pitbull666pitbull666 Member Posts: 13
    Does that include tax?
    What was the msrp and residual?

    thank you
  • pitbull666pitbull666 Member Posts: 13
    Hey carman,

    can you give me the following

    e350 24 and 36 month rates and money factors?

    I would also like the rate on bluetec.

    thank you
  • alexandervalexanderv Member Posts: 24
    Hello to all in the Forum,

    I just wanted to post some money factor info. I have been speaking w/ So. Cal. MB dealer about 24 mo. lease on E350 bluetec. Based on a quote I received, the buy rate for August is 0.00210, and drops to 0.00200 with auto-pay. However, they would not discount more than $6500 from MSRP. They even tried to mark up the MB bank fee by $200.

    Good luck to all...Alex
  • shawn757shawn757 Member Posts: 204
    Who is the dealer you were speaking to if you don't mind me asking? Sounds to me like they are FJ.
  • alexandervalexanderv Member Posts: 24
    Actually the dealer was Silverstar MB of Thousand Oaks. Serves me right for not going straight to South Bay MB of Torrance like you suggested. TO had the car in stock that day. Funny thing is that the salesperson at TO was going to go to bat for me to have the finance dept. "wave" the $200 mark-up on the bank fee. What a joke!
  • alexandervalexanderv Member Posts: 24
    You had mentioned that you also would recommend MB Encino. I have bought 2 vehicles in the past from staff who are currently working at that store. The deals were good for what was available at the time of those transactions. They are not currently stepping-up to the $10k discount you mentioned from HOI. Do you have any thoughts in regards to this?
  • fatcat71fatcat71 Member Posts: 75
    MSRP 58,235
    sale price after negotiation and USAA 47,400 + Tax
    Residual 63% MF 0.00230 (I think)

    I pick up the car on the 29th!! Added in the Wheel/Rim coverage (1100), Tint (50%)(350) and rubber mats (125), and maintanence into lease(don't know how mych they charged fro maintanence but it came to 10 a month), Makes payment 650.02/mo for 33 months.
  • shawn757shawn757 Member Posts: 204
    Not everyone at Encino is willing to give that discount. I dealt with 2 people before getting the concrete deal from the 3rd sales person within the last 3 months. If you want the name of the 3rd sales person email me I will give it to you. Mind you Encino will mark up the Bank fee to $1095. Even the 3rd sales person could not give me $795 buy rate bank fee. The best he could do was $2000 total drive off compared to my $1828 from HOI. Unfortunately for the 3rd sales person when I called to say I was coming to pick up the car he told me the car was sold the day before. Immediately I contacted HOI and they got me the same color car with similar features
  • alexandervalexanderv Member Posts: 24
    Will do, thanks...Alex
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hey gperry. As a current Mercedes-Benz owner you may be eligible for a $1,500 loyalty cash incentive on this car. Mercedes is also providing dealers with a small number of Customer Advocacy dealer cash certificates that they can use to provide an additional $1,900 discount on this car if you can convince them to use one on your deal.

    If I was in the market for this car right now in an area that has a decent level of competition, I personally would shoot for a selling price of $500 to $1,000 over invoice minus whatever cash incentives I was eligible for.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi Alex. While I am not 100% certain, I suspect that the offers that you mentioned in your post cannot be combined.

    Car_man
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  • richardnvarichardnva Member Posts: 91
    Looks like a great price. Where in VA? I'm in Richmond.
    Also, any other options other than P1?

    Price looks like right at or below invoice, how'd you manage that?
    Thanks!
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    I'd be happy to help you out, pitbull666. Mercedes-Benz is not currently providing any lease support on the 2011 E350 Sedan. As a result, if you were to lease one through Mercedes-Benz Financial right now you would have to use its standard lease program. Its current buy rate standard lease money factor is around .00240 for Tier 1 customers, though this may vary somewhat by region. The same thing goes for the Bluetec.

    The residual values for these cars are as follows: '11 E350 Sedan 69% for 24 months and 54% for 36 months. The numbers for the 350 Bluetec are 75% / 59%.

    Car_man
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  • alexandervalexanderv Member Posts: 24
    Hello Car_Man,

    What about this Customer Advocacy dealer cash? Can this be combined with any of those other incentives?

    Thanks...Alex
  • pitbull666pitbull666 Member Posts: 13
    Hello,

    Is the residual calculated on the MSRP of the car or the final sale price?

    It looks like the 24 months @ 75% residual on bluetec is the way to go.

    thx
  • socalsl5socalsl5 Member Posts: 6
    Sorry to chime in with a random topic guys, but I NEED MAJOR HELP. I am currently in a lease contract for a 2009 E350 and am getting KILLED on the payments because I had the negative equity from my SL500 rolled into the payments. Yes, VERY stupid I know.
    I keep getting called by my local MB dealer to come in and trade my car for a newer one, so wanted to get some feedback on what payments I should be expecting with my situation so I dont get screwed again, including any and all incentives MB is currently offering for a returning customer. Looking to trade it in for a new E-class... I reeeally would appreciate your help, thanks in advance.

    Here are the details of my current deal:
    Bought my car: 8/2009
    Current Monthly Payment: $915
    Present Payoff Quote as of 8/2011: $39,821
    Days Remaining on Contract: 801 days

    I have checked out all of your payment quotes, so Im wondering how much different mine will be...

    Thank you !!!
  • bfran1969bfran1969 Member Posts: 1
    I just finalized a 33 month lease on a 2011 E350 Sport (Steel Grey with Ash/Black Interior) with Premium Package 1 and Split/Folding Rear Seat at Patterson Mercedes in Wichita Falls, Texas.

    MSRP = $55,435
    Sale Price = $48,266 (Invoice plus $150 with Conquest Discount of $4,000)
    Residual = 63%
    Money Factor = 0.0025
    Trade In = $4,000
    Acquisition Fee = $795
    Payment = $467.60 (Depreciation and Finance Fees Only)

    All other fees, including 36 month maintenance for $769, are being paid up front. The maintenance fee was residualized at the 63% rate to increase the residual value decreasing the depreciation fee by almost $15 a month. Total out of pocket including first month payment is $2,949.13.

    Total cost over the lease period dropped about $5,000 by reducing from a 36 month lease to a 33 month lease.

    Watch the lease calculations closely. The program that the dealer was using would pull any fees and the first payment from the down payment or trade in by default. I had to provide calculated values for the up front payment in order to get the lease to calculate properly. This default is in their best interest as you pay additional financing fees on that money. I suggest reading www.leaseguide.com very closely before dealing.
  • kyfdxkyfdx Moderator Posts: 236,554
    So... your upfront money was the $4K trade value + $2950?

    Then, tax on the $467.60?

    Just asking.... might have to put this one on the list.. ;)

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  • b2yb2y Member Posts: 1
    edited August 2011
    I got a 33 mo lease for e350 sport, silver metallic, P1 package, 20k miles allowance per yr.
    $2000 out the door including 1st mo payment
    $620 plus tax monthly.
    What do you guys think of the deal?
  • eazyduziteazyduzit Member Posts: 2
    Have an offer to waive last 4 payments on my c300 plus got $1,500 loyalty letter in the mail. Wanting to upgrade to 2011 P1 E350 sport. I'm in Las Vegas. Tier 1 credit.

    Looking for a baseline for reasonableness for when I go in. Can anyone help?
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    That's an excellent question, alexanderv. I am not sure if they are compatible, but I suspect that they are not.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hello pitbull666. Vehicles' residual values are based upon a percentage of their full MSRPs, including the destination charge and any options that can be residualized.

    Car_man
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  • ghstudioghstudio Member Posts: 972
    Just leased a new 350 Blutec with P2 ($59200 MSRP) for 24 months (12K/year). $900 paid up front (first payment plus registration and some incidental state required fees). My monthly payment are $495 plus tax. I rolled the origination fee into the lease.

    I used the maximum (10) multiple security deposits to bring down the money factor...effectively, a loan to Mercedes for two years...and then I get that money back. I was eligible for the conquest $4000...but the real key to this deal was the incredibly high 77% residual on a 12k miles/yr 24 month lease.

    Dealer charged $1095 lease origination fee...so I guess they marked it up, but I think this might have been the last 2011 bluetec in the state and conquest money ends 8/31 so I just bit the bullet and paid it.
  • fq1fq1 Member Posts: 56
    Thanks for the info. How much reduction do you get in MF for each security deposit? Also, which state are you in, that is one heck of a deal. Congratulations on agreat car!
  • ghstudioghstudio Member Posts: 972
    edited August 2011
    I'm in Florida. My understanding is that multiple security deposits are available in most but not all states.

    The reduction in money factor by Mercedes Finance is .00007 for each security deposit. Each finance company calculates the "security deposit" amount differently. Mercedes figures out your lease, assuming the number of multiple security deposits you want to pay and then you will pay the full amount of the monthly charge calculated times the number of security deposits you said you would pay.

    That's probably confusing....so let me explain with numbers

    If you tell the finance person that you want to make 10 security deposits, they will reduce the August money factor (tier 1 credit) from .0024 to .0017 and calculate the monthly payment including your local tax. You then will leave 10 monthly payments as a loan to Mercedes finance for the life of the lease.

    If you do this, I recommend paying the lease origination fee up front as well for two reasons. You won't have to pay 4% on that fee...but perhaps more important, the calculated monthly payments will go down and you will have to loan mercedes less as multiple security deposits.

    Many ways to play this, depending on your personal financial situation. If you are paying 20+% on your credit card loans, none of this makes any sense....go pay off your credit card. If you have cash sitting in a bank or in a CD and won't need it for the life of the lease, why not put it into multiple security deposits where you will effectively earn more than 10% on that money.
  • ghstudioghstudio Member Posts: 972
    At the end of a lease, does Mercedes allow you to keep the car for one or more months...in other words, extend the lease if you want. Some leasing companies allow you to do this if you have another car on order FROM THEM. Others will allow you to extend for one or two months at the same monthly charge for any reason.

    How does Mercedes handle their end of lease options?
  • pitbull666pitbull666 Member Posts: 13
    I would appreciate the new # for E350 sedan (and bluetec) for 24 and 33 mths and money factor for this month along with the comparison from the same for last month.

    Thank you
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi pitbull666. Mercedes-Benz Financial's new September buy rate lease money factor and residual value for a 24 month lease of a 2011 E350 Sedan with 15,000 miles per year are .00192 and 67%, respectively for consumers who qualify for its top credit tier.

    The numbers for an otherwise identical 30 month lease are .00192 and 62%.

    It's possible that Mercedes is allowing consumers to lease vehicles for 33 months using its 30 month program this month if it qualifies for its "Value Added" program.

    Car_man
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  • chalkie1chalkie1 Member Posts: 17
    What are the September money factors and residuals for a 12000 mile/24mo. lease, specifically on an e class blue tec diesel? Also, is there a "one pay" option, like offered by BMW, where all the lease payments are payed in one lump sum payment up front, which offers a greatly reduced money factor?
  • alexandervalexanderv Member Posts: 24
    Hello Car_man,

    Based on your post, it appears that the residual values for September are 2% lower than in August for that E350? Can you please confirm this? Is this decreased on the E350 BT as well?

    Thanks...Alex
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi chalkie1. Mercedes-Benz Financial's September buy rate lease money factor and residual value for a 24 month lease of a 2011 E350 Bluetec with 12,000 miles per year are .00192 and 76%, respectively for consumers who qualify for its top credit tiers.

    The last time that I checked, MB Finance did indeed offer a one pay option that provided a .00110 money factor reduction to consumers who choose to go that route.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi Alex. I just double checked the numbers that I posted in the message that you referenced and they are indeed correct.

    Car_man
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  • carlos3555carlos3555 Member Posts: 4
    Hi I ave a question regarding a 2011 bluetec lease, the offer is as follows:

    Downpayment/ inception $2800
    Miles /year 10k
    Payment $569.00 tax included
    Msrp $59,625 p02 premium package

    I am hesitant to pullnthe trigger based on the numbers I am seeing posted does anyone have any thoughts? Thanks for any input.
  • ghstudioghstudio Member Posts: 972
    While I don't know your credit tier, that's may not be a great lease deal if you are eligible for the "conquest" money (your last car must have been one of the manufacturers they are trying to conquest....ask the dealer....it's $4000)...and you should be getting a big discount off MSRP as well.

    First, the payment should be the first month's monthly lease payment and registration fees. Something else is obviously in that $2800.

    Second: What is your dealer charging for an acquistion fee. Mercedes finance charges $795 but many dealers give themselves another $300 profit and try to charge $1095 (I'll let you decide and negotiate which you want to pay).

    The money factor for that car is .00194 and the residual value for September should be 77% of the sticker MSRP on the car. for a 10k/year lease....and that's what your dealer should be using (some try to play with these numbers).

    What is the negotiated price you're paying for the car (how much are they giving you off the sticker price)?
  • carlos3555carlos3555 Member Posts: 4
    I currently have a BMW and the 4k "conquest money" is factored in already. How much is a reasonable reduction in the msrp? I believe they may have brought down the msrp by another 4k. they havent been willing to negotiate the price since they say the car is in high demand
  • ghstudioghstudio Member Posts: 972
    8K off MSRP is reasonable...it's about what I got last month on almost exactly the same car. But there is still something wrong with the numbers. Did you buy prepaid maintenance or is there some other fee or are you in one of the states where you have to pay all the tax up front???? How about the answers to the other questions (acquisition fee/mf/residual being used)....

    I just ran your rough numbers...assuming 8K off MSRP, $795 acquisition fee and a dealer prep of $695 (what I paid) and your payment without tax and paying only the first month lease and registration fees up front...rolling all other fees into the lease....I come up with approx $510/mo plus tax.

    BTW...if you have about $4500 that you're willing to loan Mercedes as "multiple security deposits", your monthly payment would go down to about $442/mo plus tax AND you will get that $4500 back at the end of the 24 month lease...it is a security deposit, not a down payment.
  • carlos3555carlos3555 Member Posts: 4
    I am in Florida, the 2,800.00 includes 1st month, acquisition, dealer prep and bank fees. I do not know the residual value right now and the $569 payment includes 7.5% tax. I know they were running numbers based on tier 1 credit, any suggestion on what to counter offer tomorrow?
  • ghstudioghstudio Member Posts: 972
    edited September 2011
    It depends how much you want the car...I did less haggling then usual because it was the only Bluetec on my dealers lot and it had the right equipment and colors.

    I would think I would aim at about $550/mo including tax with your first payment being only the $550 (first months lease payment) plus the registration/transfer fees and any nuisance fees like tire/battery disposal fees, etc. if there are any. No other money paid up front. This would assume that any acquisition fee/bank fee/dealer fee are part of the lease...not paid up front.

    Actually, if it were really me, I'd loan them the $4500 (10 multiple security deposits) which earns almost nothing sitting in a bank but would save me about $1700 over the 24 months by letting it sit in mercedes bank account instead of mine.

    Give it a try....it's a great car and even if you wind up paying a bit more, it's a great deal due to that $4000 Conquest contribution and the incredibly high residual.
  • carlos3555carlos3555 Member Posts: 4
    Thank you very much, you have been very helpful ...this dealer has 2 similar cars but other dealers do not have many.
  • gperrygperry Member Posts: 4
    Car Man I am trying to lease a 2011 E350 4matic w P1 package and my dealer is not getting Anywhere close to the numbers I see others getting. Can you give me an idea on what I should be shooting for price wise? Can you breakdown the incentives? If I need to go to another dealer I guess I could do that. Also thoughts on BlueTec?
    Thanks
  • ghstudioghstudio Member Posts: 972
    edited September 2011
    The BlueTec has a significantly higher residual on the 24 month lease right now then the gas models....so don't let that confuse you. A similarly equipped gas e 350 would cost about $125-150 per month more on a 24 month lease. For longer leases, the two get closer. Actually if you compare the 24 month Bluetec lease to a 36 month lease on the same car, you will pay more per month for the 36 month lease. Clearly, the best Mercedes e class deal right now is the BlueTec...which is pretty strange since the 2012 has no changes from the very recent build 2011's.

    The other difference is that most of the deals discussed here are from folks who qualify for the "Conquest" $4000 deal which is based on the car you are coming from....that makes a very big difference in a lease....bringing the monthly payment down roughly $170/mo on a 24 mo lease for those who qualify. For the deal just discussed above, it would be about $730 a month for any gas e350.

    Finally, some of us take multiple security deposits to further reduce the cost of the lease. It's a great deal, but the option is poorly understood by both the dealers and buyers, so few do it. I am saving $1700 on my lease by loaning Mercedes about $5000 for two years...I get that money back. That's a great return on my money which would otherwise sit in a bank earning about 1% today, if I'm lucky.
  • gperrygperry Member Posts: 4
    Thanks for clearing that up. Does the BluTec come in 4matic? The dealer says they are giving me 4k off due to incentives and that my wife bought a Volvo off them and they sell them as well and some sort of 1k incentive.
    I am looking at 33 mo lease, w 10k miles. Still payments are coming out to around 620 mo. W about 4500 at closing due. Still seems high to me.
    I have a GL450 loaded 2007 w 75k miles I bought from them. Haven't even discussed trade yet, owe 26k on it.
    Look forward to your response thanks for your help.
  • ghstudioghstudio Member Posts: 972
    sorry, I think the 4matic is only available with the gas engine.

    Most of us are getting roughly $4K off MSRP plus the $4K conquest money for a total of $8K or more off any of the 2011 e class cars....some are getting a bit more. What is the MSRP for the car you are considering...and what will the dealer sell it to you for (your negotiated price). What is the dealer charging for the acquisition fee/bank fee....and what are they charging for "administrative fees"?
  • automotivemarcautomotivemarc Member Posts: 5
    After Studying the Forums on Edmunds I beleive I just pulled off the Deal of the year !!!
    I had 11 months left on a 2009 Infiniti G37x Coupe payyoff was $32,435 11 payments on a 3 year lease of $563.00 per month. The MB dealership paid off my car IN FULL.
    Manheim's Best price for Solds was 26k.
    I took advantage of the MB 10 security deposit that I learned about on Edmunds.
    I leased a 2011 MB E350 4 Matic Sport Model P1 with Panoramic roof stick $59,640
    24 months / 30k miles
    $1686.00 out of pocket (First month, Acquisition, tax, plate transfer)
    23 more payments of $619.00 I have leased allot of cars and worked deals really hard.
    But Im Sure this is this one takes the cake ...
    I contacted 5 other MB dealerships and they all told me NO WAY !!!
    I am burning GAS and this vehicle is an amazing machine.
    Automotive Marc ...
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