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2013 and earlier-Mercedes-Benz CLS-Class Lease Questions

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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    edited January 2013
    Hi doctorg24. The last time I saw it, Mercedes-Benz Financial's January standard buy rate lease money factor for consumers who qualify for its top credit tier was .00160. If your credit is in good shape, what you suspected is likely correct...the dealer is marking up your car's money factor to add additional, hidden back-end profit to your deal. Dealers are indeed allowed to mark up money factors. and this sort of thing is actually fairly common at luxury dealers. Savvy consumers who are in an area that has a decent level of competition are often able to avoid the mark up by negotiating further with the dealer that they are working with or by shopping around.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    While some vehicles do have lease support available on them, enabling dealers to offer lower money factors than .00160, the CLS does not. I think that the money factor for MB Finance's "FCA" credit tier might be slightly lower than .00160, but that's only for consumers who have exceptional credit.

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  • seattletwinsseattletwins Member Posts: 4
    Hi Car_man,

    What would you consider a good lease on a CLS 550 4Matic 2013 with a dealer price (6% off MSRP) of $77450? I'm considering a 36 month 12K lease, and have excellent credit rating (720+)

    Thanks in advance
    seattletwins
  • seattletwinsseattletwins Member Posts: 4
    car_man,

    Just to add, based on one of your previous posts, I would prefer a zero cap reduction which I will have to negotiate with the dealer.

    Looking forward to your answers!
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi seattletwins. According to my calculations, if you were to lease a 2013 Mercedes-Benz CLS 550 4Matic that has an MSRP of $82,394 and a selling price of $77,450 through Mercedes-Benz Financial right now for 36-months with 12,000 miles per year, your zero down, pre-tax monthly payment should be around $1,046 for consumers who qualify for its top credit tier.

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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    That's what I usually work up for consumers, seattletwins. You're definitely smart not to want to make any cap cost reduction.

    Good luck in your negotiations.

    Car_man
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  • busmgr37busmgr37 Member Posts: 1
    Car_Man:

    Tring to buy a new 2013 CLS550 4 dr Coupe. Offer is $74,513.00 (MSRP is $82,795.00), 7.5 k miles/year, $5,000 down, 36 months, payment is $966.56 plus tax.
    Residual is $49,261.

    They have indicated they wont budge on the money factor and allowed me to walk out of the showroom. What is your opinion?

    Thanks!!
  • larciellarciel Member Posts: 29
    That's way too much. You should review Car_man's example few posts above and how to calculate lease on edmunds.com article and come up with much lower payment than that.

    CLS is having a huge markdowns right now. I was able to get a great deal on it just yesterday.

    *to Car_man.
    What are the fees that I should consider when buying this (or any other car) in state of CA ? I want to check if I pushed the manager too hard on the deal. :)

    Thanks
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi busmgr37. As larciel mentioned in the previous post, the payment that you were quoted definitely looks a little high. Using Mercedes-Benz Finance's current buy rate lease money factor and residual value for this car (.00160 and 59% for top credit tier), I come up with a zero down, pre-tax monthly payment of around $911 per month. With a $5,000 capitalized cost reduction, this payment would drop to $764. Let's say that $2,000 of that $5,000 wasn't a cap cost reduction, but was due at signing for other things like the first payment, acquisition fee and other items, this car's monthly payment would still only be $823.

    I don't have a problem with your selling price, but the dealer is definitely marking up your money factor. If you have the time to shop around, see if you can find a dealer that will use the buy rate to calculate your payment.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi larciel. At lease signing you would have to pay your car's first month's payment and MB Finance's $795 acquisition fee. On top of that, you would be required to pay any state fees, such as tax, title and license. I don't know specifically how that breaks down for California.

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  • kkaedingkkaeding Member Posts: 1
    Please give me your opinion of a competitive lease for 3 years with 10 or 12K miles. The dealer has quoted an MSRP of 82.7K selling at 74.7K. The money factor is .00220 and the residual is 58% or 48K. My corporation will be the lessee; have never leased before and I don't know what I don't know. The quote includes a "cash cap reduction" of $3205. also provides for "capped fees of $1694 and other charges including taxes of $2480.

    Your thoughts please. Thank you for you help.

    KLK
  • isrp4l1isrp4l1 Member Posts: 1
    Hi. New to this. I'm looking to lease a 2013 cls63. Trying to figure out how much I should be spending. Also trying to figure out what it would take to custom order one with the designo interior. Thank You
  • mystic6mystic6 Member Posts: 6
    Previously you stated that Mercedes-Benz Finance's buy rate lease money factor and residual value for the CLS was .00160 and 59% for top credit tier. Can you update us on these figures for March for a 36 month 10k/12k mile lease? Do you know what the mark downs are for the Houston, Texas area?
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Welcome isrp4l1. Since you are new to leasing, you definitely should check out the following informative articles on the subject that are available here at Edmunds.com: 10 Steps to Leasing a New Car and Calculate Your Own Lease Payment.

    In short, the easiest way to get a good deal on a leased vehicle is to shop around for the lowest possible selling price and then have the dealer that you decide to go with calculate your vehicle's monthly payment using its buy rate lease money factor.

    Mercedes-Benz Financial's March buy rate lease money factor and residual value for a 36-month lease of a 2013 CLS63 with 15,000 miles per year are .00205 and 55% for consumers who qualify for its top credit tier. This car's money factor is not very attractive because Mercedes is not providing any lease support on this model at this time.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Sure mystic6. Yes, MB Finance's March buy rate for the 2013 CLS550 and CLS550 4Matic is still .00160 for consumers who qualify for its top credit tier.

    The residual value for a 36-month lease of a 2013 CLS550 with 12,000 miles per year is 57%. It's 1% higher for leases with 10,000 miles per year.

    I don't know specifically what the market is like for this car in your area, but I can tell you that Mercedes has $3,000 "Spring Event" certificates out there on it. Try to get the dealer to use one on your deal.

    Car_man
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  • aceusmleaceusmle Member Posts: 28
    Hello Car_Man,

    Can you please provide me with the residual value and money factor for a 2013 CLS550 and 15,000 annual miles? It would be great if you can also let me know the current incentives and hold backs for this car... Thank you.
  • mjr8mjr8 Member Posts: 1
    edited March 2013
    car man....can you tell me what the residual and MF is on a 24 month lease for a 2013 CLS550 4Matic with 10k, 12k and 15k miles? Thanks.
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Here you go aceusmle. Mercedes-Benz Financial's March buy rate lease money factor and residual value for a 36-month lease of a 2013 CLS550 with 15,000 miles per year are .00160 and 55% for consumers who qualify for its top credit tiers.

    When negotiating your deal on this car, try to get the dealer to use one of the $3,000 Spring Event certificates that are out there on it.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi mjr8. The numbers for the 4Matic version of this car would be exactly the same as the numbers that I mentioned in my previous post.

    For a lease with 12,000 miles per year, add 2% to the residual values. For 10,000 miles per year, add 3%.

    Car_man
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  • shpatel1shpatel1 Member Posts: 3
    Hi CarMan, I'm in California and was wondering what the money factor and residual is on 12k and 36 months. Also any incentives on this particular model? I'm having trouble getting an idea of how far they will be willing to move on the price. Thanks!
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi shpatel1. MErcedes-Benz Financial's current buy rate lease money factor and residual value for a 36-month lease of a 2013 CLS550 with 12,000 miles per year are .00136 and 55% for consumers who qualify for its top credit tier.

    The numbers for the 2014 model are .00205 and 57%.

    Car_man
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