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Mercedes-Benz E-Class Lease Questions
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Both are just pure profit grabs by the dealer...
Spoiler, 36 mo., 12k, drive off only, for $618/mo. Is this a good
Deal.
I assume you felt it was a fair deal.....enjoy the car.
Can you please tell me the best lease term available including the Lease Rate and Residual through MB Finance for a e350 sedan @ 12k miles/year. Also, if there are any current incentives.
Thank You,
Bobby
Do you have the Mercedes Competitor Conquest Information? How much is the Competitor Conquest for E350 4 Matic?
Any idea does dealers will go below invoice - Competitor Conquest?
Thanks in advance
what is the monthly payment? did u get 4Matic and Mercedes Care? Thanks
For each security deposit (payment) you LOAN mercedes up front, they drop the mf by .00007. In your case, you have a special rate, so they shouldn't use that as the base....rather they should use .00225 as the base which would then reduce to .00155. Since you are getting .00169 without the deposits, it's not worth it. BUT...if they use .00169 as the base....your monthly payment would reduce by roughly $70...that's every month. Some dealers do it the wrong way....so it's worth innocently asking.
Why is it such a good deal?? you loan mercedes $7500 for 33 months...you save $70 a month or over the life of the lease, you save $2310....AND you get the 7500 back...it's a security deposit, not a down payment. You have effectively made $2310 on your $7500...and if you left that money in a bank instead, you might, if lucky, have earned $250.
Give it a try...nothing to lose.
I bought a similar/ same car 59k, 33 mo, 15k miles, service included and am paying 641/mo but I was out of pocket 1200 excluding the first month. Though I closed the deal in Feb! So looks like u r paying approx 93/month extra over the 33 months which amounts to approx 3000!
I would ask u dealer that if u had to pay 1200 what would be the payments?
Let me know how it goes or if I can answer any specific ques!
Mercedes is currently providing a $2,000 owner loyalty offer or a $3,000 conquest offer to current owners of competitive models on this car.
Car_man
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MB Finance's current 36-month, 12,000 mile per year residual value for this car is 58%.
Car_man
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Prices Paid: Buying & Leasing Experiences Forum
Car_man
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Car_man
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E350
E350 BLUETEC
E350 4matic
Also, does anyone know if there is any special maintenance required for E350 BLUETEC as opposed to regular E350? Are there any disadvantages to leasing E350 Bluetec as opposed to E350?
Thank you
Car_man
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Thanks
24 months is the optimal lease for the Bluetec....not 33 which the dealer will suggest. 33 is good for gas models. If you lease a diesel, use Multiple security deposits to bring down the interest rate. This doesn't work for the gas cars because they have a "promotional" rate...but the diesel doesn't so using MSD's brings down the cost per month significantly. If your dealer doesn't understand Multiple Security Deposits, ask them to call Mercedes finance and find out because it's a standard part of the mercedes lease. There are a few states where you can't do Multiple Security deposits like NY...but if you lease the car in NJ, you can use them and many do just that.
I love my late 2011 e350 bluetec with P2 package. Just a wonderful car and I leased for 24 mos with 10 MSD's. Prior to the e350, I drove three infiniti M's including the M37 which I hated (transmission issues). My e350 Bluetec is more comfortable, quieter and far far more fuel efficient.
I am in NYC and probably less than half gas stations have diesel. Once i get on the highway it should not be an issue.
I was told by a dealer and several leasing brokers that there is very limited availability of E350 bluetecs. Which does not make sense, why would MB have promotion on them if there is no oversupply but on the other hand maybe due to promotion most cars got sold/leased.
Will contact few more dealers tomorrow.
Everybody has their own style as far as bargaining goes, but I would probably start at $49.5k and let them huff and puff a bit up to $50k. Used to bargain over the last dollar, but nowadays I think 500 over invoice minus factory incentives is a fair deal. YMMV.
Got an offer from NJ dealer:
White
P1 Package + Panorama Roof + Rea Spoiler + Split Fold Seats + Cargo Storage Bin + 2Y Mercedes Care
MSRP: 59945
Final Price: 53100 (dealer claim Invoice - $3000 conquest)
33 month 0.00169 MF 63 residual
Tax and fees Up Front
$625.00 per month in NYC
Is it a good deal or should wait for June / July for better program?
I would not pay bank fee and dealer administration fees upfront....roll them into the lease. You don't mention what the $'s are for these. Mercedes charges $795 for establishing the lease which some dealers mark up to $1095....and the administrative fee seems to vary with $695 being the number most used. You should be able to negotiate to $795 and perhaps negotiate the dealer admin fee (profit) down as well.
Does the monthly charge include taxes??
Car_man
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Does this cover the E550 Coupe as well? Looking for a good lease offer on a E550 coupe this month (30-36m, 10-12k miles).
Thank you!
In most states, you could have lowered your monthly payment by $50 or more by using multiple security deposits. Many in NY where this isn't allowed, lease in NJ where it is allowed....most other states allow it. It's a standard part of merecedes finance leases which dealers don't understand and don't discuss. It is a mercedes offering, not a dealer offering although some dealers claim "we don't offer that" which is pure BS unless in one of the very few states where it is, for some reason, not allowed.
You should have included mercedes basic maintenance because a) you have to do it (or equivalent) as part of your lease contract...and b) because many dealers treat it like an option....so you only pay part of the cost.....on your car, you would have only paid 23% of the cost of that maintenance. Without it in the lease this way, you will pay 100%.
Too late....enjoy the car for 24 months and then come back for pointers before you lease the next one.
You must have leased a stripped down car at $50,000 to get that price
The lease advertised with $3800 Down EXCLUDING TAX
Don't be deceived by the advertised lease specials as these mean nothing. Only three variables matter when it comes to determining a lease: RV, MF, and negotiated sales price.
By way of example, I leased an E350 Bluetech sport (24mo/12k miles a year) for $460 a month (includes tax) with $0 down. The car was nicely equipped with P1, parktronic, spoiler package, tinted windows, and split folding seats. I did apply the conquest rebate, and I did capitalize on MSD's to reduce the MF, which as ghstudio notes, affords a substantial monthly savings. And the best part is that said deposits are returned at the end of the lease.
Cheers!
We are getting a loaded E350 BTEC, MSRP $64,8xx(?). It has almost every option and it's the colors we wanted. We qualify for USAA, MB loyalty, and MB Car Club cash. These are the only programs that can be combined, and we will get $7k in incentive cash this month on top of invoice pricing (almost). The lease ended up just under $500 for 24/10k with only $8xx out of pocket. I don't have the exact numbers and it's not that relevant. What is relevant is that you find out the residual value and make sure you're not getting charged too much interest.
And GHSTUDIO, we chose to not do the MSD at this time for various reasons. I know the rationale, so there is your opportunity to zing me if you like. This is our 5th Mercedes in the last 5 years, so I tend to be very comfortable that we get great cars for very good values. The BTEC has become very difficult to find, and I HAD to have P2 for the lighting package. I will never have an MB vehicle without the upgraded lighting again.
Good luck to all!
First time lease buyer , I have couple of questions . I own a 4Runner and pay around 650 in monthly payments and plan to trade in to lease a E350 for my wife.(Basically i want to lease with the same monthly payment of around 650 to 700$)
My question are
1. Do I sell my 4Runner or trade in , I know the conventional wisdom says sell it to private party but want to know if its same with lease trade in.
2. Do I get best deals from a couple of dealers with out giving my social(have a fairly good credit) , come back to this forum and post the numbers
I am off to the dealers to hunt for a good lease deal on E350 Cabriolet for my wife , live in east bay in NorCal .
Any pointers ,suggestions please let me know
OK...now that we have that out of the way...we can talk about leasing. the numbers you care about in leasing are: Money Factor, residual value, the list price of the car and the price they want you to pay. Please do not let them wing a number by you of $X per month with $y down. You don't want to put any money down...that means you will pay the first month's lease payment plus any legally required fees (registration/taxes)...that's it to walk out the door. Next, you want to price the car including mercedes (not third party) maintenance included in the lease. Next, I don't know if the rate on the car you want has a promotional money factor or not....but you should ask the dealer for a price with no security deposits and then a price with 10 security deposits (this is called multiple security deposits)..one short word on MSD's..you loan Mercedes 10x your monthly payment for the length of the lease and then you get that money back..very different then a down payment. The reason you do this is because it lowers your money factor and you save roughly $50 or more a month). Finally, you may be eligible for "conquest" money (rebate) of $2K because you drive a ford. You should strive for a capitalized cost of maybe $500 over invoice (see edmunds) less another $2000, if you are eligible.
Good luck...report what you find here and we will try to help you get the best deal....but please give us all the numbers I mentioned...not just the monthly charge and list price. Also give length of lease.
Dealer 1 Fletcher Jones , Fremont CA
E-350 Black Cabrillio (base option not S02)
The MSRP is 57720 for a buy option they can go Invoice +1000.
For a 3 year lease here are the numbers
Res Value - 60%
Money factor =0.00177(value is for 750 credit score not excellent like in 800's)
Cap Cost - 56720
Cap Cost Reduction 3999 ( which i guess is a rebate because i told him i want a no money down or a trade in option)
Acquisition fees is 795
The final lease amount is 699 + 61.25 (sales tax)= 760.25
We talked about conquest rebate but he was not sure if we can get one for 4Runner and said he will try to get .
This price is not including the 3 year maintenance as they have a one year free included in the package
He was not very encouraging on the MSD and said finance will go over that when we pull the trigger
Dealer 2 Smythe European San Jose
He did not have any E-350 Black Cabrillio (base option) and was trying to sell me one with S01 which was about 66000 or with S02 which was 63000 and did not have our color in their inventory . He kept telling me there is not a single car in bay area with a base option available where as i test drove the base option same day.
We plan to visit 2 last dealers in case they have our color and model if not then dealer 1 is our last choice.
Like you mentioned I did not talk about a trade-in which is a 4Runner SR5 2009 with 52K and leather seats &3rd row .Found out KBB value for private party for very good condition is 26,318 and and Trade in 24,218. I plan to put it on sale on Craigslist and try and sell it in next couple of days .
Thanks a lot , you cannot imagine the confidence this site gives when we go for negotiations . Great work , keep it up
KK
Having lived in SF for some time before relocating to SD, I recommend calling MB of SF, MB of Walnut Creek, and then RAB in Marin. At MB of SF, ask for a sales manager with initials AC and simply tell him the particulars of what you are seeking. They are very transparent on RV and MF and will do MSD. Best of luck with your newfound confidence!
Cheers!
By the way what are your thoughts on a 5 Yr lease vs 3 year . Here are my numbers for 0 down and no due at lease ( dont know if its possible) , 4k in cap cost reduction and finally 4K 5 yr lease and increase MF to double of .0017
Car Lease E350 base Prm Pckg 1 No Down 4K(Cap Red) 5 Yr Lease
Capitalized Cost 56720 56720 56720
Down Payment
Capitalized Cost Reduction 0 4000 4000
Net Capitalized Cost 56720 52720 52720
Residual Value 34032 31632 31632
Total Depreciation 22688 21088 21088
Lease Length 36 36 60
Monthly Depreciation 630 585 351
Money factor 0.0017 0.0017 0.0025
Interest Rate 4.08 4.08 6
Interest Charges 154.2784 143.398 210.88
Pre-Tax Monthly Payment 784. 729. 562.
Sales Tax 68. 63. 49.
Final Monthly Payment 853.67 792.33 611.552
Due at Signing
Montly Payment 853.17 792.93 611.552
Acqusation Fees 795 795 795
Lease Fees 1 1 1
Cap Cost Reductuion 0 4000 4000
Drive off Amount 1649.1 5588.9 5407.5
Any thoughts on my numbers ?
A 33 month mercedes lease will cost less than a 36 month lease because they are usually allowed to use the 30 month residual for up to 33 months.
Personally, I would never lease for more than that....I'd buy the car.
You should include the maintenance FEATURE...it will raise the MSRP, but you will only pay part of that because it is residualized like any other feature.
Why is the first payment so high??
Here is the final offer dealership made for the car which is not on their lot , I guess they are getting it from another one in bay area
The MSRP for E350 + P1 package is 64545
MF = .00177
RV=60 %
Down payment+Acq fees of 1095 = 6000 (Total drive-off)
To make my Monthly payment 729.12 including tax
Here are some discussion items we did
My Monthly payment was not supposed to exceed 730
No discussion of maintenance as that was supposed to be done with finance guys
They give one year free maintenance .
The deal did not go through because i wanted 6k for my car which they could not match and i decided to sell it outside to raise 6K and i said i will come back
From my calculations to get 730 monthly + 6K for this deal
Cap cost would be 54475
Adjusted Cap Cost (with 6K down) would be 48475
I saw Truemarket value for this from edmunds is
Base Price $53,941
Premium 1 Package $3,729
Destination Fee $875
Regional Adjustment ($124)
________________________
Total Price $58,421
What do you think ?
2) If ypu buy mercedes maintenance from your salesman, it should be included in the MSRP of the car (note: must buy mercedes, not third party). That means that you will really only pay 40% of the MSRP cost...just like you are only paying 40% for every other feature on the car. Negotiate this with your salesman, not the finance guy who will try to sell you third party maintenance and then you have to pay the full cost. This is one of those "I don't care how you do it, mr dealer, but here's what I the buyer want to do." And subtract out the cost of an "A" service from the MSRP since they are apparently giving that to you free.
Negotiate the $1095 down to what mercedes actually charges the dealer which is $795.
Do not put money down up front (capital cost reduction) unless you have to do it for credit reasons. Under normal conditions, it really doesn't matter...but the condition you care about is if the car is stolen or totalled. Here's what happens:
Mercedes determines the value on their books of your car. They then subtract out all the money you have paid and any difference is paid by their gap insurance which is included in your lease. But if you have put money down up front, that's part of the money you paid so they don't have to use their gap insurance and you are out that money.
It is safer to just keep that money and pay it a little each month...in fact, if you make a 3600 capital cost reduction on a 36 month lease, your monthly payment will be $100 less. If you put that same 3600 in a bank and use it $100 at a time, you pay the same to mercedes, but you protect yourself from just losing that $3600. Yes, there's a little interest, but not enough to worry about given the possible risk.
That's why most familiar with leasing recommend that the first payment is only your first months lease payment plus any legally required costs. The aquistion fee is not a legall required cost and should be rolled into the lease like every other cost.
One more question i had for the forum ,
Is this a good offer for Black E320 Cab with P1 and Appearance package for 3 year term
MSRP - 64545
Cap Cost 48000 (I calculated this on my own using formula )
MF 0.00177
RV 60%
0 down (I plan to put money down only for credit reasons)
729 Per/mn incl taxes
2538 drive off cost
3 year MB maintenance rolled in Cap cost
Let me know and i will close the deal