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Mercedes-Benz E-Class Lease Questions

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Comments

  • billybug1billybug1 Member Posts: 13
    Hi,

    I'm in the So. Cal area and looking for a basic black e350 with Nav and P1
    for 24 months or 36 months with 12k miles and zero drive off.

    Can anyone share the details of their deal for a similarly equipped vehicle.

    I'm reading too many variations in peoples payments to make sense.

    thanks for the help
  • msc5msc5 Member Posts: 25
    Carman,
    My lease is coming to an end---but before the 2014 models are out. I have just asked above for the MF and RV on E350 sedan and coupe but I have read on the internet that the E350 models are being changed. Do you know anything about this? I don't want to lease a new 2013 and 6 months later have the 2014 models released which are not only supposed to have feature changes but according to internet body changes as well. This is one reason I was going to look at only a 24 month lease---plus Mercedes has for my last few leases always let me out of lease 5 months early if leasing a new vehicle.
    Thanks, MSC
  • romil01romil01 Member Posts: 75
    msc5,

    Read: http://www.caranddriver.com/news/2014-mercedes-benz-e-class-rendered-news
  • billybug1billybug1 Member Posts: 13
    can anyone tell me if this is a good deal on a E350 sport

    Black/black
    Navi
    Panoramic roof

    $3000 drive off (includes first pmt, DMV, taxes)

    $563 per month plus tax

    24 months
    10 k miles per year
  • ariazariaz Member Posts: 77
    socalgirl 1, sorry try it now.
  • robertw477robertw477 Member Posts: 188
    edited December 2012
    This is the latest lease offer I got on the following car. I do not have every last detail, but I will know shortly. This is from a lease broker. Frankly the dealers are not for me. They are just way off the wall pricewise. I find that there is a significant saving on a ONE pay MB lease. The savings is so great it is worth it for just ablut anyone. You save on multiple security deposits, but for about twice that you get even a better deal on a 24 month lease.

    E350 Sport
    with P1 Package
    $444 a month (x24) Includes 6% FL sales tax and ($795 bank fee)

    With P2 Also $500 (x24)

    I think the P2 is a little high considering the extras involved. He did not suggest the maint package which would be only about $320 or so over the 24 months.

    Any thoughts on this one. Also I personally avoid all cap cost leases because they stink with no customer benefit. A One pay on MB according to whan I have been quoted can save $60 a month or more.

    One more thing, not that it matters to me I think he said the car cost basis on the P1 was about 51K. That number usually doesnt matter much to me once I see the lease rates.
  • ariazariaz Member Posts: 77
    seems like a great deal, One question on another note. Whats the difference between Tier 1 And Tier 2 approval From MB financial?
  • mercedes_dezmercedes_dez Member Posts: 8
    tier 1 and tier 2 are the same for the cars with promotional rates
  • ariazariaz Member Posts: 77
    So I should get the same deal as Tier 1 credit. My dealer thinks differently.
  • mercedes_dezmercedes_dez Member Posts: 8
    if you are looking at an E350 sedan then the tier 1 and tier 2 rate is in fact .00121. If you dealer will not work with you then perhaps you should find another dealer. In such a highly competitive market I cannot understand why a dealer would play hardball when you have so many other choices.
  • robertw477robertw477 Member Posts: 188
    Just got another rate ont his car. I will see if this cimes through using a car broker.

    E350
    P1 and P2 Package
    Wood Steering Wheel
    Sport with spolier and 18 inch wheels
    10K miles-24 Months
    Fold Down Seats
    Lane Assist
    Black on Black
    Car approx cost ($61,000)

    One Pay lease (Includes tax 6% and Bank Fee) 11,400.00 out the door.

    I will advise if this deal happened or not. You really never know as I have not dealt with this person before.
    I posted the other day a P1 car for 444.00 x 24) This is a car that was offered to me today.
  • ariazariaz Member Posts: 77
    Robertw477, This is a great deal which state are you in. And is this price with Tier 1 or Tier2 credit. If you don't mind can you share the dealership info.
  • robertw477robertw477 Member Posts: 188
    I am in Florida. This is not a dealer. It is a lease broker. In the past I have done some sharp deals with lease brokers. They get some fleet type pricing and make money if they can move volume. I just filled out the credit app and I should have the best credit so assume Tier 1. I am not very familiar with MB finance but I have been top credit on every single lease I have done from Honda, Acura and Audi. Remember that this is not a deal until I get the car and the keys :-). I will give more details if this works out. I dont like dealerships particularly, and the ones here will not give you a sharp price. That is my opinion. I even used Costco car program. The dealer is supposed to give me a firm price. The guy called me and I could see immediately it wasnt going to work out. There have been some others here that got good pricing from dealers. I do know if you want into a dealer and start talking about multiple security deposits or a one pay lease they will tell you that wont save you money and they will start playing those dealer games. What do you want to pay? All the same stuff. South Florida is one of the top car markets especially for Luxury cars, but many will try to give you a fleece not a lease. Take one look at the websites where you can assume another lease and you will see leases of toyotas for 400 a month.
  • ariazariaz Member Posts: 77
    if your deal works out, please let me know. i will love to make the same deal. the problem is i cant go on 1 pay, because i have to put the payments in my business expenses. i have been told that i have tier2 credit, what i gather from this forum is that Tier 1And Tier 2 has the same Money factor.
  • ariazariaz Member Posts: 77
    My current dealer is telling me that there are 2, Tier 2 approvals, Tier 2 and Preferred Tier 2 , whats the difference.
  • escalade24escalade24 Member Posts: 45
    Rules when dealing with Mercedes dealerships in Florida:

    1) They are a monopoly. Almost all dealerships are under the same ownership.

    2) NO ONE. I mean NO ONE in the state of Florida will acknowledge the drop in money factor from MSDs. Last year I called every dealership in the state and not one would concede.

    3) They all add on 300 to the acquisition fee and all charge a Doc Fee (read: [non-permissible content removed]). Of all the dealerships, I got the best "deal" from Naples. Ended up with a BMW 535 because they were offering real deals on better cars.

    4) No one will talk figures with you. They don't want to talk residuals, invoice, or money factors. They talk monthly payments only. They don't bargain at all because in the end there are enough people in south florida with more money than brains.
  • mercedes_dezmercedes_dez Member Posts: 8
    He is giving you bad information. At the moment a tier 1 or tier 2 approval for any vehicle with a promotional money factor is the same rate. In the case of the C250 sedan its .00120. The E350 has a promotional rate of .00121.

    If its a car with the standard rate then there are tier 1,2,3, and 4 levels. No such thing as a preferred tier 2 rate
  • awd250awd250 Member Posts: 63
    I've been told .00111 and 72% on a 12k 24 month lease. Now the question is what's the best price out there for a P1 package? 59K msrp?
  • vchadvchad Member Posts: 97
    edited December 2012
    Hey Guys,

    I happened to stumble upon my local mercedes dealer, looking to buy a new sedan. I frankly told them i wanted 10% off msrp....plus the 4k winter event cash. They basically told me not possible, etc. etc........but a few days later, they called saying if i took this one car they had on the lot for a bit, they would honor the deal. It ended up being the color i wanted anyway! You will have 10 dealers laugh at you, tell you its impossible, but trust me it can be done. here are my #'s. i did a ONE TIME pay, so i can get a (.0008 reduction in MF....went from .00121 to .00041)

    2013 Palladium silver/black interior. 4matic. sport p1.
    msrp 61,945
    selling price $51750
    mf. .00041(one time pay)
    residual (72%)
    10k miles
    24month lease.

    WITH 2yr maintenance....I wrote them a check for $9,125. The dealership incorrectly stated the residual as 73%, while negiotating...and realized their mistake...but ate the cost. :)

    I bought this car in the midwest(michigan)....this dealer wont replicate the deal, but I know their TRUEprice(hassle free pricing), was only 2k higher than I paid, so i'm quite positive you can get a car for just barely above what I paid. Dealer is part of Sonic auto group. Had a great sales person.
  • fremontguyfremontguy Member Posts: 2
    Please will appreciate answer from anyone, specially from carman asap. This is for a 36 months, 30K miles deal with 4K for cap reducation.

    1. Is residual value based on list price or negotiated price. I got a deal for E350 with MSRP of 60.5K, but negotiated price of 52.87K. I was told by sales guy that residual value of 61% of negotiated price but when they gave me final paper work, they are putting residual value of 36.9, which is 61% of full list price. Are they taking me for a ride or this is norm.

    2. With 6.5 K of total initial payments (that includes 4K cap reduction), I need to pay 3 years monthly payment of 531 with tax. This is in northern ca, is it a decent price.
  • kyfdxkyfdx Moderator Posts: 236,760
    Residual value is always a percentage of MSRP..

    You wouldn't want it any other way.... A lower residual means a higher payment...

    Edmunds Price Checker
    Edmunds Lease Calculator
    Did you get a good deal? Be sure to come back and share!

    Edmunds Moderator

  • robertw477robertw477 Member Posts: 188
    Very interesting comments, and from what I have seen I tend to agree. Frankly speaking I look at the car, the miles and total cost including any paperwork fees etc. In fact I dont mind rolling the entire thing into a payment, because for me that is my best way of comparing a car with exact specs.
    I am about 2 mins away from the largest BMW dealership in South FLA and the largest Lexus dealer. Both are top dealerships in the US. I have never been able to get any decent price out of either one in the past. The BMW salesperson told me point blank that they move a ton of product and really dont sharpen the pencil. You would think in a weaker economy there certainly are less prime or good credit buyers looking for a car than a few yrs ago. Doesnt seem to be the case here.
  • robertw477robertw477 Member Posts: 188
    That is an awesome deal to say the very least. Beyond awesome. For that price I would fly to MI and ship the car back.

    Congrats.
    Rob
  • robertw477robertw477 Member Posts: 188
    Today I got one more quick quote from a dealer. Dealer quoted me single pay price of $782.00
    E350 Sport
    With P1/P2
    10K miles
    24 months
    Lane Tracking

    My car broker is at 475 including tax. Its frankly amazing. The dealer quotes me 782 on a 1 pay. Imagine a month to lease on that one. What would it be? $850 a month?

    Rob
  • robertw477robertw477 Member Posts: 188
    That is a terrible deal. This particular car has a great residual cost. That is why this car is so good for a 24 month lease. Most cars you have to lease for 36 Months which works well for how those are structured. One huge cost these days are tires. You wont have to do new tires in a 24 month lease. Tires can run $300 each or more for tire and mounting (most likely) 531+ cap costs and how do they get to 6500 at closing? What is the $2500.00 for? The Christmas party for the dealership? The bank fee is 795 Still 1700.00 of fluff.

    1. Never pay a cap cost. (EVER!)
    2. Mercedes Multiple Security Deposits will save you money (5 MSDs max)
    3. One pay also saves although most people who lease dont think about that. On a MB the savings is great.-this is aomewhat unique to MB
    4. MSDs and One pay are not cap cost reductions. Those are for suckers.
    5. Read the posts here. Go back a bit. I wish more people would post their final costs. It seems that many discuss the car but some dont come back and post if/when they get the car what happened.

    Rob
  • ariazariaz Member Posts: 77
    which dealership, who was the Sales Person?
  • ariazariaz Member Posts: 77
    did you get this deal?
  • ariazariaz Member Posts: 77
    who is your broker? if you don't mind me asking.
  • robertw477robertw477 Member Posts: 188
    I think it is not allowed for me to post his name or contact info. Once my deal is signed and I get the car hopefully this week, maybe I can message you his info. I dont want to do something not allowed. I assume he can get cars to other places other than florida.

    Rob
  • awd250awd250 Member Posts: 63
    edited December 2012
    Here's the deal I have so far
    MSRP 60,645 (P1 package)
    Residual 71%
    Money factor .00111
    bank fee 795
    NJ sales 818.89
    Car price $51,936 + 900 (my old lease pay off)
    $550 a month
  • spareblendspareblend Member Posts: 1
    Hi Socalgirl1,

    would you mind emailing me your options and I had few more question I would like ask you.
  • doubleoo6doubleoo6 Member Posts: 52
    Hey! AWD250.

    I too am in NJ, would you mind sharing the dealers information? Thanks.

    - can you with blocking your personal information share a copy of contract, I just don't trust these dealers.... they are known for bait and switch... if your are not comfortable no worries.

    Could you share in detail each cost? Thanks.

    Just in case this below deal falls apart, that the guy say he will do it for

    MSRP: 60.935
    Invoice: 56.975
    Selling price: 51.478
    24month, 12k miles
    539 per month incl. taxes for a car with a higher value
    760 up-front (incl. 1st payment + registration)
  • awd250awd250 Member Posts: 63
    email me markoh5@gmail.com
  • jdiesel77jdiesel77 Member Posts: 19
    Here is my deal:
    msrp 60,200
    24 mos 12k miles
    resid 42,738
    mf .00121
    2500 out of pocket which is usual fees and 1st month
    selling price 55,231

    689 mo incl nj sales tax

    They are also taking in my e convertible where i have 5 payments left.

    i think i can do better , but any suggestions?
  • 1985mb1985mb Member Posts: 60
    Hi Car_man,

    What are the 24- and 30-month residual and MF on the e350 wagon? 12k/yr.

    Thanks!
  • doubleoo6doubleoo6 Member Posts: 52
    AWD250,

    Thanks for your email, just emailed you...

    - Double006
  • awd250awd250 Member Posts: 63
    When they say they are taking your E cont, it seems like they're just putting the 5 payments onto the lease. MB should have some sort of early lease term is you're getting another MB
  • romil01romil01 Member Posts: 75
    I have been quoted a MF of 0.00151 by two different MB dealers in Las Vegas (different ownerships) and I can't figure out why? I thought 0.00121 was the Dec MF for a standard E350. They both know I have top tier credit.
  • robertw477robertw477 Member Posts: 188
    I always wonder why people get a lease and then decide to turn in early to get another car. Most of the time they basically pay for two cars as the extra money is rolled into another car. I once told a freind of mine let me srive the Lexus for 3 months. Instead he paid the 3 months wrapped around another lease. Its like paying rent for a few months and living somewhere else. I know sometimes the auto company just clears the payments to keep them in another leased car, but that is something different.

    Rob
  • ariazariaz Member Posts: 77
    I am going for the following car.

    2013E350, P1, metallic paint, lane tracking, keyless go. Wheel package (18"wheels), wheel locks, comfort box.
    MSRP: $59315.
    24 month lease 10k miles. $468/ month. Tax &1st month payment upfront. No acquisition fee. No doc fee.

    Think it's a decent deal?
  • robertw477robertw477 Member Posts: 188
    That looks like a very good deal also. I just got my car last night. Your car your wrote P1 but isnt that P2 also with the keyless go etc. Mine had P1 and P2 on a one pay lease at basically the same cost as you. If your lease is month to month that is one of the better prices posted here for sure. If it matters mine has P1/P2, foldable back seats, wood steering wheel, lane tracking, rear shade. The technology in the car is fairly advanced. Ill need to learn some things.

    Robert
  • ariazariaz Member Posts: 77
    It's P1. It also has folding seats and I think the sunshade is standard. It's
    Not a 1 pay. Month to Month. I took your advice and went through a broker
    Instead of a dealer. The dealer is above 7 for the same car.
  • robertw477robertw477 Member Posts: 188
    Great deal. I just got an email from a dealer I had quote me last week saying he hopes to do future business. His quote was one of the highest. After you get the car ey wish they priced it lower? For me it took e one pay to get the price about the same as yours for p2. Frankly your p1 has keyless, so you have much of what it is in the p2 anyway. dont lose the keys. mb will kill us at lease end. I lost a pricey acura key but they are easy at lease end.

    rob
  • romil01romil01 Member Posts: 75
    How does one find a broker? I am also getting numbers well above $700/month from two MB dealers in Vegas.
  • ariazariaz Member Posts: 77
    All brokers has different pricing for the same car. You need to negotiate with them as you do with a dealer. Get quotes from different brokers for the same MSRP and specs.
    You stated you are in Vegas, have you tried dealerships/ brokers in CA?
    There are tons of brokers in CA, just google it. You need to be careful which broker you pick. Nothing is solid unless you get the car.
    On another note try mercedez dez on this forum. He is a dealer in CA, his prices look decent.
  • 1985mb1985mb Member Posts: 60
    Per my dealer:

    "24-month is 65%; 30 mth - 63%; 36 mth - 61%.
    This is based on a 2013 E350 Wagon, 12,000 miles per year."
  • romil01romil01 Member Posts: 75
    edited December 2012
    ariaz,

    Thanks for the info. How do the brokers get paid...do they charge you a one-time fee or is it some kind of percentage deal? Maybe it depends on the broker.

    I just contacted Dez in CA to see what he can do, the dealers in Vegas are awful and there is little competition.
  • ariazariaz Member Posts: 77
    If a broker asks you for money upfront "STAY AWAY". there are some brokers who charge you a fee upfront and get you a lease sheet, that you take from dealer to dealer asking them to match the price thats BS.
    The purpose of the broker is to get you a car, without you setting a foot in dealership, when you go to dealerships and look at the shiny floors and free cappuccinos and expressos, who do you think is paying for that?
    The broker I use does not charge customer anything and all the transaction was done over the phone, email and fax. After everything was done he Fedex the papers to a local notary, who came to my place to get the documents signed and he FedEx the docs back. The broker arranged for the car to be dropped off at my house. He got the car from a dealer who is 300 miles from where i am, so i had to pay for transportation.
  • ninadipietroninadipietro Member Posts: 2
    I am looking for the MF and RV on a 2013 E350 coupe on a 36 month lease with 10k miles per year. Also, is the winter cash promotion $2000 or $4000 for the coupe? Finally, in regards to the various fees dealers love to add on (for example "dealer fee" or "advertising fee"), are any of these legitimate fees required by law or are they just ways for the dealer to build in more profit?

    Thank you in advance to anyone who can help me :)
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Yes, billybug1, the $4,000 is still available on the 2013 E-Class through the end of the year.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
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