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Is this a good deal for a 2016 S550 4Matic Sedan?

sean3315sean3315 Posts: 3
edited December 2016 in Mercedes-Benz
The best number I've been able to get so far is 1199.93 with just first payment due up front. The residual he gave me is 51% and the money factor is .00043. The sale price of the car is 93,685. A huge discount from the MSRP of 111,685. This is for 36 months and 10k miles a year. Is this a good deal? Can I do any better than this? Most quotes I've been getting are around 1,400.

Comments

  • kyfdxkyfdx Posts: 134,532
    sean3315 said:

    The best number I've been able to get so far is 1199.93 with just first payment due up front. The residual he gave me is 51% and the money factor is .00043. The sale price of the car is 93,685. A huge discount from the MSRP of 111,685. This is for 36 months and 10k miles a year. Is this a good deal? Can I do any better than this? Most quotes I've been getting are around 1,400.

    .00043 MF and 51% is correct for 36/10.

    If I add in the $795 acq.fee, I get $1107/mo.+tax.

    So, depending on your tax rate and other DMV costs, that looks pretty close, and not a bad deal, at all.

    Did you get a good deal? Be sure to come back and share!

    Edmunds Moderator

  • Do you think it is possible to get it lowered? He started at 1380 and is telling me that it probably will not be able to go any lower? Can I get him to adjust that residual it looks a little low. The residual on my 2014 E63S is 61% for 36.10.
  • kyfdx said:

    sean3315 said:

    The best number I've been able to get so far is 1199.93 with just first payment due up front. The residual he gave me is 51% and the money factor is .00043. The sale price of the car is 93,685. A huge discount from the MSRP of 111,685. This is for 36 months and 10k miles a year. Is this a good deal? Can I do any better than this? Most quotes I've been getting are around 1,400.

    .00043 MF and 51% is correct for 36/10.

    If I add in the $795 acq.fee, I get $1107/mo.+tax.

    So, depending on your tax rate and other DMV costs, that looks pretty close, and not a bad deal, at all.
    I'd like to get it closer to 1,000. Is that realistic at all? Sorry If I'm coming off as naive about this.
  • kyfdxkyfdx Posts: 134,532
    sean3315 said:

    Do you think it is possible to get it lowered? He started at 1380 and is telling me that it probably will not be able to go any lower? Can I get him to adjust that residual it looks a little low. The residual on my 2014 E63S is 61% for 36.10.

    The bank sets the residual. The dealer can't alter it.

    Did you get a good deal? Be sure to come back and share!

    Edmunds Moderator

  • MichaellMichaell ColoradoPosts: 128,116
    sean3315 said:

    kyfdx said:

    sean3315 said:

    The best number I've been able to get so far is 1199.93 with just first payment due up front. The residual he gave me is 51% and the money factor is .00043. The sale price of the car is 93,685. A huge discount from the MSRP of 111,685. This is for 36 months and 10k miles a year. Is this a good deal? Can I do any better than this? Most quotes I've been getting are around 1,400.

    .00043 MF and 51% is correct for 36/10.

    If I add in the $795 acq.fee, I get $1107/mo.+tax.

    So, depending on your tax rate and other DMV costs, that looks pretty close, and not a bad deal, at all.
    I'd like to get it closer to 1,000. Is that realistic at all? Sorry If I'm coming off as naive about this.
    To go from a payment of $1107/mo to $1000/mo before tax, the cap cost would have to come down almost $4000.

    Did you get a good deal? Be sure to come back and let us know! Post a pic of your new purchase or lease!


    MODERATOR

    2015 Subaru Outback 3.6R / 2014 MINI Countryman S ALL4

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