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2013 and earlier-Mercedes-Benz CLS-Class Lease Questions
kyfdx
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Using MB Estimator the MSRP $65675 (includes dest charge), accessories $690 heated seats, $70 wheel locks. $1300 Guzzler tax, total $67341, 36 months, 12,000 per month. great credit rating, is $1242/month a good price based on the MB Estimator?
Again, thank you in advance.
Car_man
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I am new to lease :confuse: so please help me out.
Thanks!
Whether you will pay more to lease this car and buy it versus just financing it to begin with depends upon two main factors. The interest rate that you will have to pay to finance it versus lease it and whether you believe its residual value is accurate.
Mercedes-Benz Credit's current lease money factor for the '06 CLS500 is .00300. When one converts this to an interest rate is is equivalent to around 7.2%. Even with the new lease support, there is no advantage to leasing interest rate wise because you should be able to get a rate that is at least this low to finance this car if your credit is in good shape.
The other factor that I mentioned is this car's residual value. Mercedes-Benz Credit's current 36 month, 15,000 mile per year residual value for the '06 CLS500 is 62%, which is pretty solid. If you lease and this car ends up being worth less than this after three years, you come out ahead because you miss having to pay for all that depreciation. Of course, this assumes that you walk away from your car at the end of your lease and do not pay its inflated purchase price.
After all this, I am fairly neutral on this car's lease program. It's not great, but it's not horrible either. You can't really go wrong with either leasing or financing.
Car_man
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Car_man
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I was at the dealership today. and he was saying the residual for 39 months was 62 percent. can you tell me the residaul for 39 compared to 36 months. Also how does the taxes work on lease in New york. I have leased a bmw and is going to finish this may. I always thought the 8.625 % tax was multiplied on the lease payment. However this dealer says that when calculated it is with a tax adjusted cap cost.
Here are the numbers hope you can help with all my questions. thank you
39 month/ 15k a year
msrp $76784 Purchase option 46,950.08 (doesn't make sense with the residual)........capcost 72,809 . he states out of pocket $1421.54 and $1159.04 a month. can you calculate the numbers. thanks
I am not personally all that familiar with how sales tax is calculated on leased vehicles in your area, but you may be able to find out more information on this subject by visiting one of the following sites: New York State Department of Motor Vehicles Internet Office or New York State Department of Taxation and Finance.
Car_man
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(Pretax lease payment) X (tax rate) X (number of months).
A $1,000 lease payment on a 36 month lease, in an area with 8% sales tax, would have a total tax of $2,880. This amount is payable up front.
Most people "roll" the tax into the payment, which just means the dealer will add that $2,880 to the amount being financed. Interest will be charged at the same money factor as the rest of the lease.
If you have a favorable money factor (which you probably do, otherwise the lease itself would be a bad deal), then it makes sense to roll the tax into the payment and keep that money in your pocket. For one thing, if you get out of that lease early (including involuntary reasons like theft or total loss), then you will have wasted money by paying the tax upfront.
My rule of leasing is to roll everything into the payment and pay as little as possible upfront, usually just security deposit and DMV fees. Never put money down on a lease, and don't pay taxes upfront.
Car_man
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Thanks for taking the time to help me out. I have been shopping a CLS 500 lease at a few dealers in Miami-Dade County. I have a quote from one dealer. MSRP including destination ($775) and gas guzzler tax ($1300) is $74,675, selling price is $71,593. I have a 758 FICO. Can you work up a lease payment for me for 36-39 months, 12,000 miles and 15,000 miles? with $2000 down? This dealer gave me an estimated payments worksheet that looks like the payments are padded; $7500 down, $1039/mo for 39 months. I'm assuming the residual is set in stone by MB at 62%? I've read in earlier posts that the money factor is .0030. Another dealer worked up payments for me and used a .0045 money factor. Is the money factor negotiable? They also included a dealer fee of $600. Is this standard or padding? When calculating the lease is the gas guzzler tax and destination charge included in the MSRP? Thanks a lot!!
Take care,
John
My husband and I are trying to lease a CLS500, MSRP was $69,000 and we negotiated it down to $62000...Our credit is 718 and they wanted $2584 down, $872 per month for 39 months 12000 miles per year. Is this a good deal or should we continue to shop around?
I leased a 2006 CLS 500 three months ago for $1000 over invoice. If I were you, I would take the 550, period...it's better and newer. To get the best price, as you probably already know, go to 3-4 dealers and offer them a mini-deal - $1000 over invoice is fair. You'll need to put on a show and walk out a few times, wait for the salesman to follow-up and then get your mini-deal. With the 550 being so new, you'll probably need to let them make a little profit.
Thanks very much for your reply, I agree shopping around is the best. I live in Aliso Viejo, right next to 2 of the largest Mercedes dealers in the world, so I'll definitely take advantage of my situation.
A co-worker of mine just bought a SL550 (we went at the same time actually, he was suppose to wait for me to buy at the same time to get a better deal, but he couldn't wait). After driving the SL550, he just couldn't go back to the SL500 even though you can get almost $15,000 off. He did manage to get $5,000 off on the SL550. I think I'll be happier with the 07 CLS 550, for more hp and perhaps better equipment. I will update when I do pull the trigger.
Can you please tell me what the latest Mercedes lease factor and residual (in %) is for the CLS550?
I have been goin crazy every dealer tells me something different so I REALLY need some sound advice here.
I am looking to lease a 2006 or 2007 Mercedes CLS
Okay, heres the problem. 1 dealer tells me to make payments less is better to lease 06 for 27 months AND another tells me no, no no better ro get the 07 for 39?
I am real confused, I am was assuming get a leftover much lower price can pickup vehicle for $72,000 with original MSRP of $78,400(oh yes and MB is offering $2000 cash incentives to dealer on the 06 CLS).
While the 07 with same options is $80,000 and I havent done much negiotated at this point with 07 as I figured smaller monthly payments on a 06 i.e. lower price? am I wrong? Need some help fast 2006 models are clearing quickly with the options I want.
I have found an 2006 with all the options I want MSRP of $78,400- discounting to $72,000 I want a zero 0 down 39 month lease with just reg fees bank etc and no tax included with the payment a 10,000 mile a yr lease, 39 mos any figures to help with this deal- 1 dealer told me $1230 a month with like $5,000 total out of pocket!, I think he believes I am a total idiot! anyway... what should the numbers REALLY be? Since this is a 2006 and not many left I want to move quickly on this car, but dont wanna get ripped off either, thinking of calling the sales mgr directly and offering him a deal! car had been on the lot for a very long time any help, Thanks! P.S. have good credit. :confuse:
I was wondering if its worth paying cash down for it and driving it for a year and then selling it off. The other option is a loan and that payment is $938 a month.
Would it better to buy, own, use & sell or to take a loan?
Help, I need to take a decision tomorrow.
Thanks in advance
How much should i expect to pay for used 2006 CLS500 on a 0 down 36 months 10K miles lease?
Thank you
2007 CLS 550 Blk/Blk AMG Package Fully Loaded MSRP $80,000
39 Month 10K $1178per month Toyal Out pf Pocket Was $3000.00
My Ride....
2007 CLS 550 Blk/Blk AMG Package Fully Loaded MSRP $80,000
39 Month 10K $1178per month Toyal Out pf Pocket Was $3000.00
Would you happen to know what Mercedes' best money factor is on a 2006 CPO CLS55 10,000/year with no down payment and perfect credit?
Thanks,
- Max
MSRP: $71,815
Purchase price: $70,157
Down: $5,388 (includes 1st payment and TTL)
Length: 39 months
Payment: $1,079
Residual: 32,257
Apple leasing was great and I highly reccomend them. I started talking with National Vehicle Leasing. They offered a lower monthly price but th lease term is 60 months which they try to hide, obfuscate and misrepresent in every way possible.
Are the schedule maintenance visits included in the lease with Mercedes? I've heard they are not... if not... what is the usual cost of the 13-15k scheduled maintenance visit? Thanks,
jd
I'm a long time Mercedes driver, so the dealership wants to keep me as a customer and I've told them I'm looking at the BMW 6. She left a message for me today saying "We can be really aggressive, let us know what your expectations are and where you'd like to be."
So what I need is an "aggressive" but realistic lease quote. Obviously I don't want to be focused on the per-month price, but rather, the actual selling price and go from there.
Let's assume I want a fairly loaded CLS, it doesn't have to have the sports package, but that'd be nice. I don't see any in stock on their website http://www.benz4ever.com so I don't really have one to work with (as I know that'd be helpful).
So without asking them to lose money, plus take into consideration any kind of demand... can someone recommend a good "aggressive" lease quote for 36 months 15K per year? Prefer nothing down other than what is required to drive off.
If you could go a little more further, I'd say the CL is a lot better than the CLS or the bmw 6 series.
Its 1 of the worlds best luxury coupe,
Again I'll say if you can afford look at the CL at least once.
The CLS is about a 3 year old model, and the 6 series is also about 3 or more years old.
Can anyone tell me where to start the negotiation process. I'm looking for at least p1 package with nav... Please help. Credit is probably tier 2 or 3 right now
Btw the quit I got is 83k for sport, amg styling, and premium. What do you guys think
thanks!
Mercedes-Benz Financial's current residual value for a 36 month lease of a '12 CLS550 with 10,000 miles per year is 58%. The residual value for a lease with only 7,500 miles per year is 1% higher.
Car_man
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hypothetically speaking what would be the residuals for 36 and 48 months 15k miles per for the '12 cls. i know the numbers havent been released yet but im just trying to do my homework. also the money factor should stay at .00240?
$999/MO
39 months
Base MSRP $71,300
Premium Package/ P1 $4,390
Active Multicontour Driver Seat $660
Parktronic $970
Transportation Charge $875
Total MSRP $78,195
Suggested Dealer Contribution $0
Gross Capitalized Cost $78,195
Customer Down Payment $3,679
Net Capitalized Cost $74,516
Term (in months) 39
Residual 58%
Money Factor 0.00210
Monthly Payment* $999
Customer Down Payment $3,679
Acquisition Fee $795
First Month's Payment $999
Amount Due at Signing $5,473
Mileage 10,000
Total Miles 32,500
Vehicle Turn-In Fee $595
Total Lease Payments $38,961
Total Payments $43,435
Residual Value at Lease End $45,353
Mercedes-Benz Finance's June residual value for a 36 month lease of a 2012 CLS550 with 15,000 miles per year is 55%. The number for an otherwise identical 48 month lease is 49%.
Car_man
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Car_man
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I went into the dealer yesterday just thinking about a test drive, but winded up bring home my dream car. Unfortunately, I wanted to buy, but MB Financial was only offering a lease to me. I really want to keep this vehicle for a long time and baby it for many years, but I am kind of bummed that I will be paying more for this vehicle in the long run. I think I got a good deal, but I wanted you guys to chime in and tell me what you think. Also, what are your thoughts on keeping the car after the lease has matured. Will that financially make no sense? Here is the breakdown.
Term: 24 mos
MSRP: $105,000
Purchase Price: $98,573
Capitalized Cost Reduction: $16,544 (from trade-in equity)
Residual Value: $69,418
12k miles/yr
Monthly payment: $1,185
* the money factor is not stated on my contract, but the dealership said that it is the standard lease and is the approximate equivalent of 8% APR. I can't negotiate the money factor, right?
Also, they tried to sign me up for a 48 mos lease, but I changed it to 24 mos. (at 36 mos the monthly payment went up a little) Is 24 mos lease, ok?
Thank you in advance for the input. Given the new model and all, I think I got a fair deal, but still feel a little "hustled" into a lease rather than a traditional loan. Correct me if I am wrong.