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Mercedes-Benz E-Class Lease Questions
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But, that was just their offer... we aren't in the market for that car (due to the lease price), so I didn't ask them to structure it exactly the way I want.. That's just their initial quote... Selling price was about $2700 off MSRP..
We just wasted their time, because the closest dealer with a diesel is 2 hours away...
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Now if they only had the BT with 4matic I'd be in hog heaven!
I really think I've got a better shot at the diesel, and might be able to do $500/mo. on that one, with no CAP reduction... just MSDs....
Plus, while the car is very nice, it's not exactly our style... 24 months might be long enough..
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The numbers for an otherwise identical 24-month lease are .00162 and 70%.
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I've read about the multiple security deposits reducing the money factor on the lease and that you can have up to 10 of them.
1.What is the reduction per security deposit individually and in the aggregate if you use 10 of them?
2. Is the amount of the security deposit the monthly payment plus tax. If not, what is it?
3. I think I've also read that you also earn 5% interest on the mutliple security deposits. Is that correct? Or is it simply that you get a better money factor so it works out to a 5% return?
Appreciate the input!
1. Would I be able to qualify for Conquest given that the former car was a Porsche but it was returned 3 months ago?
2. Would I be entitled to a Loyalty bonus for the '99 E 430 or is it too old to qualify?
3. What are the Conquest bonus and Loyalty bonus for a 2012 E 350 Cabriolet?
4. If you qualify for either or both of these bonuses, can they be used with anything else or if you use them, are you ineligible for other bonuses and incentives.
I understand that the USAA Incentive can only be used by itself and not with other incentives. Is that correct?
What is the incentive for a 2012 E 350 Cabriolet.
Thanks!
2) It is either your monthly payment including tax after the MF is adjusted for MSD's (this is what my dealer insisted was right) or, the correct way to do it is apparently to calculate the monthly payment without MSD's, round that number up to the nearest $50 and that's the amount of each security payment (I am told this is what is in the mercedes finance manual). I can't tell you what your dealer will do...most have no idea about Multiple Security Deposits at all. It's a good deal either way.
3) You earn closer to 10%/yr on the money that you put into MSD's and that is due to the lower monthly payments. You don't actually get interest on that money.
Also on stacking bonuses, dealers seem to do different things. My only advice is to try to get every one of them. I am pretty sure they won't stack conquest and USAA, but the rest seem to be fair game depending on the dealer.
Bottom-Line: anyone can get the Conquest credit.
Pretty forthcoming on the itemized lease parameters... Came in around $585/mo. and that didn't include tax..... which I didn't realize until I did the calculations..
I replied that we were about $2600 apart... and, your number doesn't include tax, right?.. His next reply, "Is the inclusion of tax the only thing keeping us from a deal" :surprise:
Uh no.... the tax I can deal with... it's the $2600!! LOL
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And, we've never stepped foot in his dealership. If we were within $500-$1000, I might just head up there and attempt to close the deal. (I don't mind getting dirty...lol).
But, to tell you the truth, my wife isn't enthusiastic about getting a Mercedes.... she is worried about what the neighbors might say.. Plus, it's a bigger car than she is used to..
If I can get it for $500/mo. including tax, with just 1st payment and MSDs, I'll get it... but, nothing more..
I've got nothing bad to say about the dealership... it's only about 10% of dealers that will do a deal as described here.... I only tried the closest one with a diesel.. If my wife were stuck on the car, I'd start shopping the next three or four closest that had a diesel... but, she isn't..
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Just got another email....
They've dropped from $587+ tax ($622 total) to $556 including tax... That includes maintenance .. That's about $525/mo. + tax.. That's about $1250 more to get down to the magic $500/mo. number with tax included...
But, your biggest piece of advice was about the wife... Did I tell you about the BMW Z4 that I leased on Labor Day weekend? 24mo./20K lease... $335/mo. with $335 + $2450 MSDs due at signing... Service loaner with 11K miles... original MSRP $55K.. :surprise:
My wife loved it so much, that now her friend is driving it... just waiting for BMWFS to get the title, so I can transfer the lease....
She is very reticent about the Mercedes.... but, seems to be on board with an Infiniti G37X.. we'll see...
regards,
kyfdx
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Stay away from the M37 though....I bought myself out of that lease because I considered the car unsafe in some situations.
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Their rate after 10 MSDs was .00155, so started with .00225....
Said they couldn't do MSDs off the .00192 rate..
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But all joking aside, this issue has materialized several times now(check out post #1813). There doesn't appear to be a definitive answer as individuals on this forum have had varying experiences. Some, such as myself, were able to use MSD on 0.00192 while others used MSD on MF's up to 0.00240. My personal assessment is that it appears to be at the discretion of the dealer, but again I don't know given the inconsistencies.
I'm a proponent of MSD's in this economy regardless of MF as you save ~2pts in interest charges. And at the end of the day, its up to you as to whether the deal is sensible.
Cheers!
I just can't imagine a finance company or finance division that is so carefree about their contracts....and who give dealers different information when they call in for help.
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Based on the various things I have been told, I believe that you cannot use the MSDs to reduce from the promotional money factor of .00192. You must start from the "standard" money factor. However, there are different "standard" money factors. Tier 1 credit may have .00195 as the "standard" money factor and other credit tiers may have .00225 or .0024 as the "standard" money factor. So those people that are getting the MSD reductions from the .00192 may either 1) have a dealer that made a mistake or 2) have a dealer that is really starting from .00195 and may be eating the insignificant cost to bring it down from .00195 to .00192.
Just my opinion.
Good luck!
Correct. No 0.00192 but make sure they start the calculations using whatever money factor MBFS gives you based on your credit application. If they say no, politely ask them to call MBFS while you are there to double check. My sales guy was amazed by the amount of information I had. He even joked about giving me a job there.....lol
They didn't residualize the two year maintenance on my 24 month quote... I was just going by the brochure that said you couldn't... that makes a huge difference on a 24 month lease ($30-$35/month savings if residualized)..
It sounds like MBCC just about takes any contract they send in... and, doesn't worry about it... I once had a contract kicked back on a Honda lease... because they used .00239 as the MF, and the actual MF was .00236.. :surprise:
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Here are my questions...
Q1. I currently own a 1996 Volvo 850, does that qualify me for Conquest? I also am insured on my bosses personal 2006 Volvo V70 so I should be able to get an insurance card for that if necessary.
Q2. What is a is a fair selling price after Conquest?
Q3. I see that the dealer I am looking at usually tries to charge acquisition fees of $1095, can I get this down to $795?
Q4. Can you give me a rough breakdown of what my lease payment should be?
Q5. Once armed with the knowledge from everyone here should I contact the dealer and tell what I am willing to pay or do I have to "negotiate"?
Q6. In your opinion, is it more effective to email or call?
Q7. Is it possible to do all this from NY and have it done before the end of October (want the Conquest) without going to to Colorado until November 5th?
Thanks to everyone in advance for answering all my questions...
2) somewhere between $7500 and $10K off MSRP
3) depends on your negotiating skills as does "administration fee"
4)
5) Personally, I would get a quote from the dealer first...and then negotiate. Be clear that you want to put no money down on the car, but you want to take the maximum 10 MSDs...and that you want 24 mos of mercedes basic maintenance included in the lease
6) phone with email backup to document what you said on the phone.
7) should be no problem....overnight air works well.
Too many unknowns to give you a monthly cost.
One more question. The car has 2800 miles on it, that seems higher than normal. Can I make this work to my favor in some way. I was told it never went into service so it is technically a new car.
If the car has 2800 miles on it, I recommend that you push for a figure closer to $10K (or more) off of MSRP. You have additional justification insofar as that I suspect RWD cars are not as prized as AWD cars in CO. But make sure that you are able to secure the discount while getting a reasonable MF as you don't want them to use a higher rate, such as 0.00240, for MSD calculation.
Cheers!
This is how the lease calculates:
With no down payment
24 months
10,000 miles per year
1st payment up front and 23 additional of $541.78 plus sales tax
When we add the prepaid maintenance the payment is $578.78 plus tax
Please let me know what questions you may have. We have an online
credit application that you can complete / be sure to put my name on it
so it will come to me
Thanks,again.
MSRP - $57,485 - includes SO1 Package (single disc CD), Wheel Locks ($140); rear spoiler ($300), Wood Trim Package ($780), Appearance Package 18" AMG Twin 5-S ($1,990),
Preferred Discount - $3,525 (Includes $2,000 for current lease payments - Conquest?)
Destination - $875
Tax - $3,525
Tag/Registration - $348
Dealer Service Fee - $699
Total Due - $58,326
24 month Lease - 10K miles - $886 (MF .00200) with $2,000 cash at signing
36 month lease - 10K miles - $803 (MF.00200) with $2,000 cash at signing
With the 10 MSDs, the MF reduces to .00195. Payments still $855 and $795 respectively;
I know I am missing something here but on first offer doesn't sound like much of a deal. ANy thoughts would be appreciated.
Thanks.
$488/mo., including tax.... not including maintenance..
24mo/20K lease..
Salesman suggested leaving off the maintenance... Said to just do the 10K service, as long as you don't hit 20K... (not sure about that advice)..
Nice price, but the wife already decided on another car...
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My dealer told me that one would get $2000 of Conquest cash towards any 2012 MB model.
Cheers!
There are two items that seem incorrect to me.
1. You should receive $4000 of Conquest cash on any 2010 or 2011 E class in addition to the $ you negotiate.
2. If you use 10 MSDs, you should receive a 0.0007 reduction. Therefore, the MF=0.00200-0.0007=0.00130. Based on your numbers above, the dealer is suggesting a 'highly marked up' MF (0.00195+0.0007=0.00265) for MSD.
Cheers!
Do any of you guys know what the residual and money factor is this month for 24 or 33 months with 10k miles a month on a 2011 E350?
Thanks in advance.