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Mercedes-Benz E-Class Lease Questions

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Comments

  • ocautoseekerocautoseeker Posts: 425
    won't know 'til march.
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  • aeggroupaeggroup Posts: 131
    I just leased my E350 today.
    Arctic white with PANO roof, Sport package, RWD, P1 package, I-Pod connection.
    $1,650 out of pocket ( first payment, bank fee DMV fees ), $590 a month including
    NY sales tax for 27 months. I hope it's a good deal. They not sure what program wll be in March, but current program is $2,000 cash back to dealer. Good luck to all.
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  • tsmith4tsmith4 Posts: 6
    That sounds like a great deal. How many miles were included? Is the bank MB Finance? I am on LI - Would you reccomend the dealer? I am thinking of waiting until March to make my deal - any insight? Thanks
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  • ggcarsggcars Posts: 4
    I have the opportunity to assume an existing lease on a 2008 E350 4 Matic Sport. The vehicle has about 2500 miles and is nearing the end of the 2nd month of a 24 month lease. The lease payment is an unbelievable $400 per month and the current leasee would like me to contribute $2000 cash to them to ofset the downpayment they made. They also got an incredible deal on this vehicle ($49K) through an employee discount.

    I currently own a 2003 E320 which I bought used and I have never leased a car before, so the whole thing makes me a little nervous. The Buyout price is $38K which seems very comparable to other leases I have read about.

    Should I be nervous about this or jump on it?
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  • ocautoseekerocautoseeker Posts: 425
    I'd say if they simply wanted you to assume the lease with $0 out of your pocket, then jump on it as $400/mo for this vehicle is awesome. However, for you to contribute $2000 for them to get out of it, that's not your responsibility, nor would it be a smart investment.
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  • crestonavecrestonave Posts: 219
    If you agreed to the $2000 contribution you'd essentially be getting the car for $491 a month for 22 months. Is that still a good deal for that car? If it is, go for it, in my opinion. There are at least two websites that I'm aware of that will allow you to search for leases that you can take over - one of them is swaplease, and the other is leasetrader. To get some comps, check them out and see what's available in terms of available leases on this car.
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  • aeggroupaeggroup Posts: 131
    Yes...MB bank, K10 miles a year....Dealer was Contemporary Moror Cars in Silver Spring NJ.
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  • dono123dono123 Posts: 2
    Hi Carfan,
    Would you please let me know the contact info for the dealer. I can't find a way to send a private message.

    Thanks, Paul
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  • aeggroupaeggroup Posts: 131
    Hi. My dealer offered me insurance to cover tires and rims for the term of a lease for
    $490. My car is E350 Sport package. Is it worth it ? Any opinion welcome and appreciated.
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  • dono123dono123 Posts: 2
    i wouldn't do you have special rims? I called the dealer you used for your lease. They told me to contact your car broker, can you PLEASE give me their info? PLEASE....
    The guy at the dealership said I ahve to go through them to get your price.
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  • mkp6ermkp6er Posts: 9
    Car man,

    I'm pricing an Eseries mercedes. All dealers are offering the vehicles for sale at invoice based upon incentives from Mercedes in Feb/March. When I inquire about leasing the vehicle, the "sales" price used to calculate the lease is now MSRP.

    The guidance in Edmunds and other sites seems to indicate the lease should be calculated on the negotiated sales price. What base price should be used to calculate a lease?
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  • jim53jim53 Posts: 115
    you are correct. You should be able to use the same negotiated sales price as the cap cost for a lease. I am negotiating one right now and that is the case. Sounds like the dealer is just trying to back peddle.
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  • love330convlove330conv Posts: 19
    I am planning to lease a E350 myself. Although, I haven't cheched with the dealer yet - but your lease price is incredibly good. The numbers don't even add up even if the dealer gave you the full $2000 rebate on top of invoice price. What was the MSRP, CAP cost, MF and residual used?

    Your info might help get me a good deal.
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  • marc1963marc1963 Posts: 6
    would like to get a similar deal!! where did you lease you car? and who was your sales person. i live in roslyn, ny. thanks marc
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  • aeggroupaeggroup Posts: 131
    Hi. Sorry, but per rules of this forum - I can not write you the name of the person to talk.
    E-mail me to aeggroup@yahoo.com and I'll give you this info. Put subject of this message to the e-mail's subject.
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  • billyperks2billyperks2 Posts: 378
    MSRP is used in certain part of the lease calculation.
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  • ocautoseekerocautoseeker Posts: 425
    The MSRP for leasing purposes is used to determine the residual value (what the vehicle is projected to be worth at lease-end). You want to negotiate the cap cost (the actual selling price) closer to invoice, or whatever the market is bearing based on demand. This in-turn will lessen the spread between the depreciation (what you pay) and thus will lower your monthly payments..
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  • jim53jim53 Posts: 115
    Any word yet on what happened to lease rates for March?

    Also, I am being offered an E63 at invoice before dealer cash. Is there some reason E63s would be offered at such a price when Edmunds lists the TMV at MSRP? I'm not complaining but it just makes me wonder if I'm missing something.
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  • mkp6ermkp6er Posts: 9
    mercedes is offering a $2k rebate as well as special leasing terms in March. I was able to purchase a vehicle this weekend at approx $4k under invoice, or $2k under if you include gas guzzler tax.
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  • jim53jim53 Posts: 115
    how (or why) are they offering cars under invoice. As I mentioned, I was offered a car at Invoice minus the 2K which would appear to be breakeven for them. Sounds like they would be losing 2K on your deal. What gives?
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  • jim53jim53 Posts: 115
    Also, are the lease terms for March different than they were for February?
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  • tsmith4tsmith4 Posts: 6
    I was told by a dealer and a broker that the rates for the e350 are slightly better this month than last. I am about to sign a 27 month lease 0 down but for dmv, first month, and 795 bank fee, at $620 / mo which includes my local tax of 8.625%. Car is rear wheel drive, P1, ipod, sport. Decided to go with a lease broker after the local dealer said couldn't touch that price. Never used a broker before but looks legit - anyone have any experience, thoughts, concerns?
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  • aeggroupaeggroup Posts: 131
    I used, gotta car a week ago.No any problems. You can do even cheaper than $620. I'd say from $570 to $590 is very realistic.
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  • tsmith4tsmith4 Posts: 6
    Thanks, I called the 2 in Brooklyn that I found on Craigslist and one who had told me 590 1 week ago claimed rates were up and first wanted 650, then came down to 625, and the second said 620.
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  • broomallbroomall Posts: 3
    I had been quoted $580 for a p1, panoramic 4matic E350. My credit is almost at the 700 mark, off by a few points but the broker (in PA) said he couldn't get it approved today and now wanted to charge me a higher rate. So confused, never had this problem before? So, I need to find another broker.
    PLEASE post the rates you are getting, I am going to shop HARD for the best rate and will communicate back. Also, please email me at broomallpa@gmail.com to let me know of any good broker you have dealt with or gotten a good quote from and i will do the same for you. Mercedes website doesn't have any specials up at all for the month, odd...
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  • love330convlove330conv Posts: 19
    All,

    Pls. post not only the monthly lease rate but also the other important pieces of info - the MSRP and the negotiated CAP cost.

    Any idea about March lease cash back?

    Anyone knows or have used lease broker in Northern California region?
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  • aeggroupaeggroup Posts: 131
    Hi.
    I don't know my money factor. Selling price was around $49K. Out of pocket was first payment, bank fee $795, DMV fees and paperwork fees ( $145 or something ). Check your e-mail.
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  • jim53jim53 Posts: 115
    Does anyone know the current money factor and residual for a 39 month 10K per year lease. Also, what is the current lease cash available?
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  • mkp6ermkp6er Posts: 9
    there appears to be a $2k incentive from Mercedes on Eseries vehicles.
    Check out eleasereturns.com or autosourcemotoring.com for lease return vehicles in norcal.
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  • broomallbroomall Posts: 3
    I still can't find the incentives. Not sure if it is dealer specific but the nationwide ones are not out.
    The best deal I have found so far was based on an MSRP of $55,000 on an E350, 4Matic, Panoramic Sunroof, P1 Package, Sport Package.
    12K miles per year, $4,000 Total out of pocket (not down) and 27 months.
    The lease rate was $590 / Month. I was not approved with a 690 credit score though. My local dealer here said he would Not lose a deal to a "broker" and would beat it and to get the quote and bring it in even if he made $0 on the car, it at lease puts a car sold on the board, I am going to explore that option.

    If Anyone has any good quotes from brokers or dealers, I have shopped like crazy, please email me at broomallpa@gmail.com and let me know what you came up with and the broker / dealer and I will do the same.
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