Car Buying Advice - HELP! Mercedes C300 Lease Offer in Texas

baazigar

Hi need help urgently. I just discovered this forum.
I am leasing a 2017 Mercedes C300 convertble with MSRP 56,695 in Texas for 36 months on 10,000 miles, Based on the numbers I’ve seen, MF is 0.00108 and RV is 58%.
The dealer is offering me a selling price of 54,357 ( 4.1% discount), however my fleet program reduces the cost by another $2,000 and he is offering tax credits of approx 2500. Aquisition fee is $1095. The payment he is offering me is 693/month. I am putting my first payment +150 down=$843 down. No security deposit.

1. By offering to pay a security deposit can I reduce the money factor? Assuming that comes back to me at the end of the lease. Does that work in TX?
2. By Opting for auto pay do I get a discount and if so how – is it a lower money factor?
3. What else can I do to get a better deal?

kyfdx

baazigar said:

Hi need help urgently. I just discovered this forum.
I am leasing a 2017 Mercedes C300 convertble with MSRP 56,695 in Texas for 36 months on 10,000 miles, Based on the numbers I’ve seen, MF is 0.00108 and RV is 58%.
The dealer is offering me a selling price of 54,357 ( 4.1% discount), however my fleet program reduces the cost by another $2,000 and he is offering tax credits of approx 2500. Aquisition fee is $1095. The payment he is offering me is 693/month. I am putting my first payment +150 down=$843 down. No security deposit.

1. By offering to pay a security deposit can I reduce the money factor? Assuming that comes back to me at the end of the lease. Does that work in TX?
2. By Opting for auto pay do I get a discount and if so how – is it a lower money factor?
3. What else can I do to get a better deal?

If we use $54,357 for the adjusted CAP cost (assuming the $2000 credit covers the acquisition fee, title/license/dealer fees and another $500 for tax not covered by the credit), then the payment would be about $691/mo. That's pretty close to their quote (with some estimating by me).
The acquisition fee is marked up from $795.

1) Mercedes does offer an MSD program. Not certain of the specifics, but if available and the dealer is willing, it can definitely save you some money. Verify the money factor being used on this quote, before asking for reductions from the MSDs
2) Autopay should reduce the money factor by .00010
3) Ask for a bigger discount. Another $1K-$2K off.

The tax credit thing is a big deal, especially in Texas. That saves $72/mo., alone. Don't step over dollars to pickup dimes.

baazigar

Thank you again.

baazigar

Thank you for your advise. You saved me money. My salesman in TX did not know about the MSD program and neither did the finance guy. They had to check with the checkers etc. So I landed up making 10 security deposits and that brought the MF down.

They also screwed up on the Residual, it was 59% and not 58% so that saved me some money as well. The final numbers look like this, let me know if you see anything missing

Original Deal for a 36 month with 10,000 miles
MSRP 56,695, Selling price of 54,357 ( 4.1% discount)
Original MF is 0.00108 and RV is 58%.
Fees: Doc Fee (150), Acquisition (1095), Lic Fee(118.25), Cap Fees (203), Cap Taxes (785.36)
Gross Cap Cost: 55,655, Cap reduction of 2015.59 through 1st payment, 2k fleet incentive + 150 doc fee
Net Cap Cost: 54,424.78 (discount 9.91% discount of MSRP + Tax + Title + Registration)
Payment: $693 a month

New Deal:
MSRP 56,695, Selling price of 54,357 ( 4.1% discount)
Aftermarkets: 1474 (pre paid maintenance & dent & interior leather protection 499)
New MF is 0.00028 after 10 MSD of 7k and auto pay discount
Corrected RV of 59%
Gross Cap Cost: 57,129, Cap reduction of 20000 through fleet incentive
Net Cap Cost: 55,914.37 (discount 11% discount of MSRP + Tax + Title + Registration)
Payment: $633 a month

Can you pleasemake sure I am not missing anything?

Michaell

baazigar said:

Thank you for your advise. You saved me money. My salesman in TX did not know about the MSD program and neither did the finance guy. They had to check with the checkers etc. So I landed up making 10 security deposits and that brought the MF down.

They also screwed up on the Residual, it was 59% and not 58% so that saved me some money as well. The final numbers look like this, let me know if you see anything missing

Original Deal for a 36 month with 10,000 miles
MSRP 56,695, Selling price of 54,357 ( 4.1% discount)
Original MF is 0.00108 and RV is 58%.
Fees: Doc Fee (150), Acquisition (1095), Lic Fee(118.25), Cap Fees (203), Cap Taxes (785.36)
Gross Cap Cost: 55,655, Cap reduction of 2015.59 through 1st payment, 2k fleet incentive + 150 doc fee
Net Cap Cost: 54,424.78 (discount 9.91% discount of MSRP + Tax + Title + Registration)
Payment: $693 a month

New Deal:
MSRP 56,695, Selling price of 54,357 ( 4.1% discount)
Aftermarkets: 1474 (pre paid maintenance & dent & interior leather protection 499)
New MF is 0.00028 after 10 MSD of 7k and auto pay discount
Corrected RV of 59%
Gross Cap Cost: 57,129, Cap reduction of 20000 through fleet incentive
Net Cap Cost: 55,914.37 (discount 11% discount of MSRP + Tax + Title + Registration)
Payment: $633 a month

Can you pleasemake sure I am not missing anything?

With the new deal, I get $649/mo - your quote looks pretty good by comparison.