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Yes I am a dealer. I work for a BMW dealer, and I worked at Mercedes Benz before this. August 1st BMW did announce what I wrote before. Discounts will not happen as lightly as you think. Every company is in business to make a profir, and the profits bmw and mercedes are generating lately are not that good. Especially when they are taking huge hits on the lease turn ins. Go to bmw or mercedes benz websites in Germany and see how much an s class or 7 series is in euros. Its about the same. Plus they pretty much buy all their cars in europe so residuals really dont come into play, and the extra cost of shipping and insurance, blah blah blah. Mercedes Benz and BMW were once considered a high line vehicle, and were not mass produced as they are now. over the past 2 months BMW residuals have dropped 5-8% across the board. Leases have actually gone up. The car business will change dramaticaly in the next year or 2. Oh and the msrp of the vehicles for 2009 has increased already. The only thing that is going to happen is alot of dealers will be closing shop, because they will not be able to sell as many cars, I know you probably dont care, but the less dealers, the less chance for you to shop from dealer to dealer, which means less discount. I am in a bullet proof area in terms of the economy, but many many dealers will be hurting in a big way. We can talk more about this in about a year. Plus how cheap do you really expect a $90,000 S-class to get?? Its not meant for everyone to have one in their driveway.
"The USA remained the largest single market for BMW and MINI cars in 2007. With a sales volume of 335,840 units (2006: 313,603 units /+7.1%), the BMW Group sold more vehicles there than ever before."
We can argue for ages, but somehow I'm the one who keeps getting the facts right ;-)
http://www.bmwblog.com/2008/08/05/bmw-to-increases-prices-cut-production-and-red- uce-the-number-of-leases/
Does different bank set their own Acquisition Fee?
Matt
eights38@gmail.com
If I lease with an option to purchase:
MSRP $92,720
Less discount & rebate $16,212
Less trade in $16,000 ($6K to be applied to upfront costs, $10K rebate to me)
Total Car Price $60,508
Cash back $10,000
6.25% Sales tax to be wavied by offseting tax credits (this is new to me and a concern)
48 months
$1200 per month
Residual $28,000
Money factor 0.00219
Finance purchase from dealer:
60 month
$1330 per month
I work for a dealer in the northeast. I am presently at BMW and worked for Mercedes before working here. Both Benz and BMW did announce that. BMW also announced that they will be shipping 40,000 less cars to the US for the next model year. Considering 230,000 sold in the US last year that is a pretty big number. I went through this with someone else a few weeks ago, if you read a few pages back you can see the whole thing. Unfortunately, I am a dealer and no one wants to believe me. We will see next year how things pan out. Just to give some advice, I recommend that if you are in the market for a new car, do the deal sooner than later, just in case the germans decide to raise all prices, and lower production like they plan. The rest I leave up to you.
Yes, of course, since two dealers said something, it gotta be true! Did they also mention, by any chance, that the Earth is flat?
MB cannot afford to increase US prices right now; not during one of the worst downturns. Their worldwide sales will be down the drain this and next year anyways.
"The USA remained the largest single market for BMW and MINI cars in 2007. With a sales volume of 335,840 units (2006: 313,603 units /+7.1%), the BMW Group sold more vehicles there than ever before."
Where did you get the 230k figure from? Where did you get the information about the production cut? While I wouldn't be surprised that it's the case considering the fragile market conditions, I'd prefer to see a link to the source.
Yes, of course, why don't I go and dump $100k of cash into a rapidly depreciating asset right about now. Cause there're lines forming at every dealer, you know.
Please look at what GM is going through right now (employee pricing for everyone, huge rebates, etc). Very soon, MB and BMW will be forced to do the same just to survive. That's my prediction; the time will tell who was right.
I must say, you are one of the most positive people I have ever had the pleasure of knowing. Everything will be much better as the years pass. Why would you even bring GM into this discussion? They are doing EP because they want you to buy the car, and not lease it. Go there and see what a lease number is on any product they have. It will knock you off your feet. OK, I did mistype the 230,000 number it is actually 290,000, we are not counting Mini in this discussion. 40,000 less BMW's is a big drop. This was said on August 1st and thats is BMW's stance now. If it will change in the future, no one knows. But for you to be as positive and upbeat about how cheap cars will get in amazing to me. Everything around you in life is getting more and more expensive, and harder and harder to buy, yet you think cars will get cheaper. Why? How do you come up with this conclusion? Like I said in the previous page, we should not argue about this, because only time will tell. I just think that the next year will be very interesting for the car business.
(It won't let me put a link here, but google "2nd UPDATE: US Auto Sales Slump Again; GM Outperforms")
Notice how GM is the only one staying ahead because of their deeply discounted pricing? Here's another piece of information for you: what we had unrolling in the US for the past 12 months is just starting to hit Europe. And it may be way uglier there than here with 13 countries pulling on the single currency and the consumer being squeezed beyond belief. And you bet your boots the luxury automakers will suffer most as people struggle to make the ends meet.
What is getting more expensive? Aside from commodities, nothing really. When was the last time you saw this great 60" plasma TV go up in price? Prices are determined by supply and demand, not how much of a margin you want to make. Yes, it became very expensive to eat. And it will likely get worse. When you're hungry, you don't exactly go out there and buy this great imported vehicle that just went up 5% in price. In times like this, people buy affordable Ford instead of a flashy BMW. I wish luxury cars were in high demand, but with those poor investment bankers literally out on the streets it'll be awhile before we see lines at the dealers.
I just noticed that MB indeed increased all MSRPs for 2009 US models by about 2.3%.My guess is that the change was planned sometime back in August when things weren't looking so bad. Right now, the euro is plunging and the credit crunch is spreading. I give them 3 to 5 months before they cave and do what GM is doing now to stay afloat. Unfortunaly, 50k+ gas guzzlers with no good financing available is not exactly what the consumer is craving for today.
Thanks.
Car_man
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Which might have something to do with the price he paid..
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I have a 2000 s500 :confuse:
Do you know the rates for the 2010 s550 4matic 36 months 12k miles in new jersey?
thanks
My mom is looking to get into a new S-class. She is 2 months shy of finishing her lease with BMW. We want the car to have the most safety features so Driver Assistance with Pre-Safe is something we would want to have.
Was wondering what the current rates are and if there are any 2009's available would it be better to go with that? Would there be more flexibility with lease rates on the S400 or would the S550 be better in that regard?
We are looking to lease for 24months-39 months with 12k miles a year and $3500 drive off. What payments would we be looking at if we were to go for it now or as opposed to April....or better yet, what time of year would be best to find a deal on this type of vehicle?
Also, we are in Orange County and have dealt with House of Imports in Buena Park in the past. Are there any other recommendations? Just looking for the best deal possible...
Sorry for the plethora of questions, but I'm hopeful that you guys would be of help!
Best Regards!
Car_man
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Mercedes-Benz Financial's current buy rate lease money factor and residual value for a 36 month lease of a 2010 S550 2WD with 12,000 miles per year are .00263 and 52%, respectively.
The numbers for an otherwise identical lease of a 2010 S400 are .00227 and 54%.
I would bee happy to work up a couple of sample lease payments on these cars for you if you provide me with their full MSRPs and dealer invoice prices as your mother wants them equipped. You can find that data over in the New Vehicle Pricing section of Edmunds.com.
Car_man
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Basically the car's MSRP is:
$98,945
and the invoice is
$92,080
This is for an S550 with the Driver Assistance Package and the Premium 2 Package.
I've noticed it is hard to find a car with the Driver Assistance Package, why is it? Would this affect the negotiating power with the car (i.e. since this is such a rare package, would dealers not be so flexible with discounting)?
Thanks for any help.
If we consider the S400 it will have the following:
Invoice: $89,970
MSRP: $96,675
Also, sorry I know this is off-topic, but Edmunds had done a review on the S400 breaks and said that Driver Assistance was required. With driver assistance, do the breaks seem safer?
Just looking for the safest car possible.
Thanks again!
What figures did you come up with on the S400 and S550?
Thanks
We are considering the E-Class as well.
Car-Man, do you have the rates?
Let's work up a sample payment on this car and see what we come up with. According to my calculations, if you were to lease a 2010 S550 2WD that has an MSRP of $98,945 and a selling price of $93,580 ($1,500 over invoice) through Mercedes-Benz financial right now for 36 months with 12,000 miles per year, your zero down, pre-tax monthly payment would be around $1,552.
Car_man
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According to my calculations, if you were to lease a 2010 S400 that has an MSRP of $96,675 and a selling price of $91,470 through Mercedes-Benz Financial right now for 36 months with 12,000 miles per year, your zero down, pre-tax monthly payment would be around $1,417.
I am not familiar with Edmunds' review of this car so I can't help you out there. Sorry.
Car_man
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What is the MB financial March lease money factor for S400, 3 years, 12000 miles/year?
Also, heard the MB Financial lease acquisition fee went up to $1195 from $795?
Thanks.
I bet that the person who told you that MB Financial's acquisition fee increased to $1,195 was a dealer. I say this because the official fee is still $795, but dealers are allowed to mark it up by a couple hundred dollars to pad deals.
Car_man
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1399 /month for a 2010 s550 with the P2 package msrp 96000, but it requires 4400 in down payments. is this really a supported lease by mercedes ? is it a good deal for that msrp?
As fas as this car's lease program goes, Mercedes-Benz Financial's July buy rate lease money factor and residual value for a 36 month lease of a S550 RWD with 10,000 miles per year are .00179 and 53%, respectively for consumers who qualify for its top credit tier.
Car_man
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The only other Hybrid in this class is Lexus LS600h, but it does not really compete against Benz. You can see the competition between these models here: Mercedes-Benz S400 Hybrid vs. Lexus LS600h Hybrid. This model offers Luxury and Economy at the same time.
Car_man
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