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Mercedes-Benz R-Class Lease Questions

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Comments

  • sussansussan Member Posts: 17
    My car's lease will expire on 2/3/09. Is there a 5 day grace period after
    the expiration?
  • nm_socalnm_socal Member Posts: 29
    Greetings, dear friends. I need help. Not sure what to do. My residual is nearly $39k. Just spoke with them, and they offered to take $13,388 off, bringing the buy-off to $25,587.

    This offer is most likely based on the mileage I told them on the phone (6,000 less than my allowance). I could have misrepresented the number, but that is not me.

    I like the car, but it seems they are not being fair in their asking price. According to KBB, the trade-in values are:
    $22,775 (Excellent condition) ... $21,625 (Good) ... $19,675 (Fair)

    Edmunds:
    $21,351 (Trade-in - "Clean") ... $23,234 (Private party) ... $24,736 (Dealer retail)

    It seems I could give this one back, and re-purchase a similar car from a dealer auction for $19-22k.

    My biggest concerns:
    (a) Paying for maintenance after the warranty runs out. OR purchasing extended warranty;
    (b) Its resale if I decide to change it after 2 years. It will likely come down to $13-15k. (Does anyone [dis]agree with this?)

    They seemed firm on their offer. Is there a point if I ask to speak with a manager? What is my leverage? I need advise. Thanks.
  • shuedshued Member Posts: 107
    Hi,
    Definitely you can get similar car from auction at about 19K-21K. But if you can ask them to let your CA be CPO which will have another one more year warrant, then I still think that 25K is reasonable. For new one with MSRP $55000, now you can get it for about $44000. after three years, 25K is about 55% of $44000.
  • tarikmaytarikmay Member Posts: 2
    My friend the price depends on what features come with the car.
    I just got my 2006 R350, I have been looking for a long time. You will never find one with Panoramic roof, memory seats, front fog lights, parktronic for less than $25K, that is if you find it at all (mainly R500 have all of these features). I paid $25.5K with cpo Panoramic roof, air suspention, rear DVD, memory heated front seats, parktronic, headlight cleanning, wood steering, power lift gate, folding mirrors, Bi-xenon and navigation. I had to have all of these features, but it was very hard to get them all in an R 350. I was lucky that I got a good color (silver on black). However, i had to sacrifice the 18" wheels, rear heated seat and accept a 42K Mi on the car.

    What features do you have on your current car?
  • nm_socalnm_socal Member Posts: 29
    Thanks very much for forcing me to look at it this way. Your points are valid. Unless I do a truly apple-for-apple comparison, it would not a fair conversation.

    My car has dual sunroofs (this is called panaromic, right?), navigation, power liftgate, parktronic, navigation, 6-CD changer plus one, and heated front seats. It does not have headlight cleaning, or wood steering or DVD or folding mirrors or Bi-xenon. So, I would say it has fewer features than your car. The slight edge I have is a lower odometer reading.

    I am in Southern California. Where are you? Does it matter?

    My car is not a CPO ... but I guess that's pointless since I am the first owner. Right?

    I feel I should not be asked to pay the retail price for this car. They have not invested in this car, have not had to market it, and are getting a buyer on a platter. They should not have this take-it-or-hit-the-road attitude - specially in this economy.

    At $22k, I would get it in a heartbeat. At $25k + TTL, I am not sure.

    Any comments??? Thanks again.
  • kyfdxkyfdx Moderator Posts: 235,200
    I feel I should not be asked to pay the retail price for this car. They have not invested in this car, have not had to market it, and are getting a buyer on a platter. They should not have this take-it-or-hit-the-road attitude - specially in this economy.

    Any comments??? Thanks again.


    I understand your feelings... but, if MB Finance probably figures that if they have to let the car go for true wholesale, why not sell it to one of their own dealers, who can then sell it for retail? After all, MB Finance doesn't have to market the car or find a buyer... At the wholesale price, the dealer either keeps it, or they send it to auction. They gain nothing by giving it to you for that price.

    I think this applies to just about every captive finance arm. They will face reality and drop the residual amount... but, if the price has to be one that a dealer will pay (auction/wholesale), then they'll just sell it to their dealer.

    regards,
    kyfdx

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  • pinerivergalpinerivergal Member Posts: 15
    nm socal: Thank you for all your postings. I am in the same situation as you are. My lease ends in June 09, I have 22K miles on it, and the same features you describe. Would you please post your final result after talking with MB finance.

    I too, am concerned about maintenance costs, but LOVE the car. It might just be less of a hassle to me to consider another CPO (not R class) since I think the depreciation still has a way to go.

    My friend paid 20K for her R350 at an off-lease dealership. She did not have all the options I have, and had 40K miles on the odometer. Still I would like to pay less than 25K, considering the auction prices.

    Thanks for all the great feedback kyfdx.
  • nm_socalnm_socal Member Posts: 29
    Thanks, everyone, for your comments. Your input is well-appreciated.

    I just wanted to send a quick update. No new development. No contact, and no followup from MB Financing. The dealership called, trying to sell me a new car. They haven't come back as yet with the options regarding the end-of-lease options.

    My biggest concern with purchasing this car would be its post-warranty maintenance, and resale value in 2-3 years. So, unless they offer some more discount off of the residual, I am preparing to walk away.

    Thanks, again. Will send another update soon.
  • nm_socalnm_socal Member Posts: 29
    pinerivergal: Just a thought. I'd gladly update you with how my situation ends up, but here's something you may want to consider.

    I wonder if there's an option to buy the car NOW, and avoid the last 3-4 payments. That alone could be the difference that you're seeking, to make it an attractive deal. See if that is an option.

    Thanks.
  • benzgirl28benzgirl28 Member Posts: 1
    Just a little input if you dont mind. MB has a pull ahead program taking car of up to 5 of your lease payments. Also dealers now have DEPP numbers which would give you employee pricing on a lease on a new R class i think its 449 for 39 months with 10 k per year you might look at this option if you were considering a new MB
  • natonato Member Posts: 9
    Hi,

    I am confused on this pay off quote which is available within few minutes of my online payoff quote request submission. it came out to be 2K more than the residual value being shown which as 31K and the Quote is 33K, , it is basic model R350 07 model, think 49K MSRP when I took the lease and has 20K miles now at the end of lease

    Has anyone faced similar online quote. Just wonder if the year is making this different, will call them in any case tomorrow to see as I saw most of the folks getting 17K less than the residual Any thoughts....

    Also do they give some grace period to return.

    Cheers!!
  • kyfdxkyfdx Moderator Posts: 235,200
    Most likely, they are including sales tax..

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  • tmblweed0429tmblweed0429 Member Posts: 1
    kyfdx, you are 100% correct. I am glad to see someone who understands what is going on out there. It amazes me that people think a company like MB Finance doesn't have a right to sell an asset for whatever price they choose. I am sure if nm_socal owned a car, he or she would feel they have a right to put whatever price they wanted on it.
  • nm_socalnm_socal Member Posts: 29
    Greetings, everyone. I absolutely agree that being the owner of this car, MB Finance gets to set its price. My contention was from their own angle: why not make more money *AND* have a satisfied customer.

    They knew how much they would get for the car, when they sell it directly to a dealer or at an auction. The lease return manager at the local dealership confirmed this: $19,500 - $20,500. So, why not negotiate with me for less than $25.5k, but still a lot more than they'd get anywhere else?

    In comparison, the dealer offered to sell me a certified (CPO) 2007 R350, with nearly the same options as mine, and the same mileage, for $26,500. It made no sense to buy mine, and at the end, I walked away.

    Thanks, everyone, for their contribution on this forum.
  • pinerivergalpinerivergal Member Posts: 15
    Thanks so_cal, I was wondering what you had decided.

    I too, am going to walk away. When I started looking at what I could get for 25-30K, I can get a CPO Infiniti or Audi that has 2 more years warranty on top of the original offered, so it doesn't make sense to me to buy my R when I will be at 39 months in June. A local Infiniti called up MBF and my payoff at 36 mos was $37K, and they were still interested in doing the deal! Seeing as I have to replace the tires at $800+, it's a no brainer to walk away.

    Doesn't change the fact that I've loved driving this car for 3 years. And that these boards have been invaluable. Thanks everyone, also!
  • amcdadamcdad Member Posts: 61
    Hi kyfdx,

    Do you have the lease factors/residuals/cash incentives for May for the R350 and the Bluetec R320? Looking at 36 months/15k miles. Thanks!
  • mattkwonmattkwon Member Posts: 1
    Hi friends,
    I have '07 R350 with p2 and navi. Mileage is 20K.My 27mo lease ends in July 09. Residual is $35k but MBF offered me $30k
    Is there anyone who knows recent auction price? and 30k is reasonable price?
    Thanks!
  • jayriderjayrider Member Posts: 3,602
    Wait until the last week before turn in and see what the deal is then. ask your dealer to show you the auction price at that time or find a used car dealer and pay him $20 to check current prices.
  • irishrogue1irishrogue1 Member Posts: 127
    it doesnt work that way. go back and read the posts on this thread. you have to deal with MBF directly - the dealer has no control over this process. MBF adjusts buyout prices from time to time based on inventory and auction prices. their buy out prices always seem to be a few thousand above auction. you can get a good deal but not a great deal as compared to going to auction and buying someone elses off lease car. for me it was worth the $2-3k more to get my car that I know was babied and has low mileage and the color/options i like.
  • jayriderjayrider Member Posts: 3,602
    You get the deal price from MBF one week before the turn in. Then you can check auction prices to see where you stand.You rarely buy any car at auction price unless you are a dealer. I agree the car you owned and like is worth the extra bucks. There are cpo R350's priced at about 30k. Most are in the low to mid 30's.Of course listed prices do not necessarily reflect actual dealer selling prices in this economy. There are a lot of 07's for sale online. Don't know if that means anything re what they will sell for or how long they will sit on the lot.
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi amcdad. I'm not kyfdx, but I do have the answer to your question.

    Mercedes-Benz Financial's May buy rate lease money factor and residual value for a 36 month lease of a 2009 R350 4Matic with 15,000 miles per year are .00175 and 46%, respectively.

    The numbers for an otherwise identical lease of an '09 R320 are .00129 and 48%.

    Mercedes is currently providing a $3,000 cash incentive on leases of the R350, but no cash on the R320.

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  • kinngkinng Member Posts: 6
    Hi all,

    I am considering leasing an R class with the premium 1 package and panoramic roof. I have spoken with a nice and (I think) very reasonable dealer and they are offering a discount of 13K over MSRP. The flip side is that the lease rate is 0.00425.

    Bottomline, for a 56K MSRP car
    - the first payment is $10K (covers taxes, acquisition everything)
    - monthly payment is $580
    totaling to ~$30,800 in 3 years.

    Does that sound about in the ballpark of decency? I am ok with paying slightly more than the best deal on earth, just not getting ripped off.

    Please help, thanks.
  • rmbalisarmbalisa Member Posts: 129
    to me that is crazy high from what i am paying. my 08 has an msrp of $52.5k and all I paid was $560 at inception (included first payment, fees, etc) and I only pay $450/mo for 33 months and 12k/yr mileage and includes my 9% tax. Though my money factor is only 0.00055. i know that the residual has dropped considerably from when i leased from 62% to about 40% maybe? you have to check with the dealer with that.
  • kinngkinng Member Posts: 6
    Thanks so much rmbalisa! Do you remember what your actual sale price was?

    The sale price I am quoted is 44,000 for a 56,500 MSRP car. The residual is 46% at 36 mo, and the lease rate is 0.00425. The drive off payment is 10K and monthly is $579!

    Would you be able to suggest how I can get a deal similar to yours. i.e under $1000 at signing and about $450/mo for a similar car. I am at a loss how to proceed.

    Thanks again. I sincerely appreciate the help I am getting here. Anxiously awaiting a response.
  • abbthe1abbthe1 Member Posts: 15
    $450 to $500 per month deals on R-class are long gone. It is impossible to get the deal like that right now. Having said that, $10K drive off on a lease is just crazy. You probably better off financing this car.
  • siamesessiameses Member Posts: 5
    Hi, car man, can you please tell me what the money factor and residual are for a 36 mo. 15000 miles lease for this vehicle.
    Is it better to wait a couple of months? And, is there any cash rebate or incentives for a lease ?
    thank you for your help
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi siameses. Mercedes-Benz ran a huge demo program at the end of June that encouraged dealers to "punch" any remaining R-Class models that they had in inventory as sold in exchange for several thousand dollars in dealer cash. As a result, Mercedes didn't feel the need to provide any lease support on the R in July. This is a terrible time to lease one. If you really want to lease an R350, wait a few months and see what happens with the program.

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  • siamesessiameses Member Posts: 5
    I will wait a little bit, thank you
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    You're welcome, siameses.

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  • dollar_pounddollar_pound Member Posts: 46
    Hi, are there any programs with this car, anyone leasing this anymore.....i am looking to get into one if possible. thanks,
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi dollar_pound. Mercedes-Benz is still providing lease support on the R350. MB Financial's current buy rate lease money factor for a 36 month lease of one is .00146. That's equivalent to an interest rate of around 3.5%, which is pretty good...but won't knock your socks off.

    In addition to this special money factor, Mercedes is currently providing a cash incentive of two grand on leases of the R350 4Matic through MB Finance.

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  • nominivan4menominivan4me Member Posts: 7
    Hi Car man,

    Is there any incentive for buying a R350 now?! And what is money factor?! If MSRP is about $60K what would be a good deal?! Should I buy the maintenance program?! Can it be customized to what I need?! How about extended warranty for 6 yr/100K?!

    Thank you.

    nominivan4me
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    edited February 2010
    Hi nominivan4me. Mercedes-Benz is providing lease support on the R350 right now. MB Financial's current buy rate lease money factor for a 36 month lease of a 2010 R350 4WD is .00146. In addition to this special money factor, Mercedes is providing $2,000 dealer cash on leases of this vehicle.

    If I was in the market for an R350 right now, I personally would shoot for a selling price of as close to dealer invoice minus the two grand as possible, ultimately settling for $500 to $1,000 over invoice...or $1,000 to $1,500 under after the incentive. You can look up this model's exact invoice price over in the New Vehicle Pricing section of this site.

    I would never purchase personally pre-paid maintenance on a leased vehicle. The only maintenance that I perform on leases is changing the oil and rotating the tires and you don't even have to do that at the dealer if you don't want to.

    The same goes for an extended warranty. One of the advantages of leasing is if you do so for the right amount of time your vehicle is always covered by its original factory warranty.

    I'm not sure what you meant when you asked if the R that you want can be customized to your needs. Any factory-installed options can be fully residualized. However, you will probably have to pay for the entire cost of any dealer-installed options that you choose to add to your vehicle over the life of your lease.

    Car_man
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  • obiwan1obiwan1 Member Posts: 42
    car man
    your manufac to dealer 2000 is not listed under incentives in the new car section of edmunds.
    is it still valid this month?
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi obiwan1. The $2,000 cash incentive on leases of the 2010 R350 through Mercedes-Benz Financial definitely still exists. Having said that, Mercedes is scheduled to introduce a new March program tomorrow. It's difficult to say what its March incentives will be like at this point. Please feel free to check back with me in a couple of days and I'll be happy to fill you in on the latest.

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  • sand529sand529 Member Posts: 45
    Any update on the March 2010 R-Class lease factors etc?

    Thx
  • greg_r350greg_r350 Member Posts: 2
    edited March 2010
    Car Man,

    Thank you for your insight and information, it's much appreciated.

    I'm leasing a 2007 R350 (33 months, 27,000 mile allowance) under the same assumptions you made regarding a predictable maintenance experience when leasing - just tire rotation and oil changes.

    We were alarmed when the Check Brakes light came on in month 29 at 25,000 miles and the dealer quoted $1,400 for new brakes and rotors. When we balked the dealer explained this is not unusual for a high performance luxury vehicle and not symptomatic of abuse or excessive wear and tear. This, we were told, is a typical experience for this vehicle once it reaches the 25,000 mile mark.

    I never thought to check the fine print when entering this lease but MB says this is not covered through the basic warranty they offer on the R350.

    That said, we got an insanely low lease rate when we did this deal in the NYC area in August 2007 so when I spread the $1,400 across the 33 months I'm still satisfied with the financial aspect of this lease experience.
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi sand529. Mercedes-Benz Financial's March buy rate lease money factor for a 36 month lease of a R350 is .00131.

    You can either go with the lease special or finance this vehicle at 0.9% for 3 years or 3.9% for 4 to 5 years.

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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Thanks Greg. Sorry to hear about the problem that you're having with your R350. Brakes are not usually a problem on new vehicle leases because under normal conditions brakes usually last much longer than 36 months. I had a leased ML350 that the brakes were fine on when I turned it in at lease-end.

    Unfortunately if your brakes do wear out during the course of your lease, pads and rotors are not normally covered under new vehicle warranties. As a result, if the brakes on your leased R350 are shot you will have to pay to repair them on your own. I have seen this sort of situation arise fairly frequently on new Honda Accords lately. They are known for having an issue with premature brake wear.

    Car_man
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  • sand529sand529 Member Posts: 45
    Had 27,500 on our R350 and needed 4 new brake pads which I did locally which was $450 including new MB brake pads. Also, just change all four tires as the stock Continentals were bald at this mileage. Replaced tires with Bridgestone Dueler H/L Alenza 235/65/17 at costco for $135/tire plus $70 off.
  • merseemersee Member Posts: 12
    I just replaced my stock Continentals also at 27K miles as they were bald too! I put on the Bridgestone Dueler Alenzas also, but paid considerably more. My R350 is an 08 with 255/55/R18. I priced them at Costco and they quoted me $904 for 4 including tax, mounting and disposal. I ended up getting them at Tire Rack for $196 each and had them mounted locally. I only have them on for a couple of days, but the tires are fantastic so far...I will be happy getting more than 27K miles out of them! Good Luck!
  • fladanfladan Member Posts: 8
    Hi everyone. Love this site. I've used it in the past to work out my other lease deals. It gives you such a great foundation in order to go out and help you get that deal and not get ripped off at the same time.
    With that said. I'm working on a deal on an R350. I have shopped around for about 3months and this by far is the best deal i have received by far. Let me know what you think. Thanks.
    2010 R 350 black/black
    msrp 60,515
    has every feature im looking for an is not in the dealers lot. They are bringing it in for me from another dealer.
    p1 package, sport package, panorama sunroof, heated front seats, leather/wood steering wheel, parktronic, entertainment system. Every feature and color i want.
    599 a month plus tax 39month lease/12k miles 1500 total out of pocket includes 1st months payment. Would love anyones input. Thanks.
  • sand529sand529 Member Posts: 45
    Seems like really good deal for a 2010. However, have you seen the 2011 yet?
  • fladanfladan Member Posts: 8
    Yes I have. There really nice and sporty for a change. However I know that always when a new model comes out the first year there isn't really any heavy discounting.
    Have to wait a year at least right before the 2012 comes out to get discounts on new models. Thanks for your input sand529.
  • shivrajrshivrajr Member Posts: 4
    Hi fladan - That seems like a very good deal. Can you tell me which dealer? I am in NJ and the best I could get was 766 (includes NJ tax of 7%) and that is for the one without Ent. system. How much are the taxes for you?
  • fladanfladan Member Posts: 8
    Hello Shivrajr I'm in Florida and my sales tax is 6%. When did you receive your quote???
  • fladanfladan Member Posts: 8
    Hello Shivrajr I'm in Florida and my sales tax is 6%. When did you receive your quote???
  • shivrajrshivrajr Member Posts: 4
    Last week. What was your negotiated price for the lease? It has to be quite below the Invoice.
  • fladanfladan Member Posts: 8
    Ok signed paperwork yesterday. its came out to 597.78 plus tax
    they up giving me a deal on the prepaid maitenance plan. Instead of 769 it was 500 so i paid that cash and didn't have it incorporated with my payment.
    I ended up getting price of vehicle for 48,795.00
    total gross capitalized cost of 51,258.00
    I have 39,000 miles for my 39month lease.
    I hope I did good:)
    Let me know if you need any info.
    Good luck!!
  • mightyjohnmightyjohn Member Posts: 10
    What was sticker price on this? Money down? What state is the dealer in?
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