Mercedes-Benz E-Class Lease Questions

endorules

BKNYC- That price is good for what I've seen so far. I still think in a month or so it will come down further. Where did you get that quote? What dealer? Did that out of pocket number include the first month?

bknyc

Car_Man
Out of pocket does include 1st month payment.... actual payment went up a bit to $765 (was $747) because of equipment (now $59,075 from $58,235)
Thanks

endorules

what dealer?

baziz

hey bknyc
what dealer is that?
i just came back from Ray Catena MB in Edison NJ and I wasn't happy with the rates

2010 E350 Coupe - $52,875
black/black
premium 1 package
862.67 x 36 months/12K miles a year
$5,122.33 due at signing

or with the NY tax into the monthly payment
957.18 x 36 months/12K miles a year
$2,460.61 due at signing.

in both cases, its a bad deal, so i'm curious to know your dealer bknyc

eagajanyan

Will you please let me know which dealer you got this quote from. Thank you Your help will be greatly appreciated

bknyc

Ray Catena in Union...My quote included a Fleet discount and was $2100 out of pocket and final # came to $780 per month including NJ sales tax

eagajanyan

How much is fleet discount on e class?

baziz

hey bknyc
is there any way you can email me the contact information of your dealer? that is the best deal that i have heard offered anywhere. thanks, my email is bishoiaziz@aol.com.

endorules

How did you get the fleet discount bknyc?

bknyc

Fleet discount is $2000....

bknyc

My company is part of the fleet program...

eagajanyan

CarMan
I would like to know what you think about this offer. Car is priced at 68.1K. Base cap cost of the car is 63,777. 36 months lease, 5K out of the pocket, 6.25 sales tax, 15miles/year dealer's payment comes out to 1026. When i do my calculations i get payment of 955 using money factor .00259, $795 lease fee, 36months with residual 53%. Please let me know if i am doing something wrong with my calculations. Dealer is promissing to me that they are using same money factor and residual as i do. Thank you and your help is greatly appreciated.

mbnyc

In NYC

2009 E350 Wagon - New
MSRP 65.8k
Reduced 13.k
Sale price 52.8k

Early lease term on a 27 month lease at 15 months - full buyout of the remaining lease payments of 9.6k (5 month loyalty, no car return fee and USAA money + some dealer cash) so I walk away owing no money.

Have to buy - lease terms not great - need to use MB finance rate of 6.9

Can i do better?

eagajanyan

Do you happen to know your Vehicle Sales Price not MSRP?

mbnyc

HI CarMan,

What do you think about this deal?

In NYC

2009 E350 Wagon - New
MSRP 65.8k
Reduced 13.k
Sale price 52.8k

Early lease term on a 27 month lease at 15 months - full buyout of the remaining lease payments of 9.6k (5 month loyalty, no car return fee and USAA money + some dealer cash) so I walk away owing no money.

Have to buy - lease terms not great - need to use MB finance rate of 6.9

Can i do better?

Thanks for your time.

CarMan@Edmunds

Hi eagajanyan. Let's work up a lease payment on this car using Mercedes' current program and see what we come up with.

According to my calculations, if you were to lease a 2010 E550 4Matic that has an MSRP of $68,100 and a selling price of $63,777 through Mercedes-Benz Financial right now for 36 months with 15,000 miles per year, your zero down, pre-tax monthly payment would be around $1,028. I used a money factor and residual value of 0.00259 and 53% to arrive at this payment.

Car_man
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CarMan@Edmunds

Hi mbnyc. Mercedes-Benz is currently providing a whopping $12,000 dealer cash on leftover 2009 E350 Wagons. Add to that the spread of at least $4,000 between this vehicle's full MSRP and its dealer invoice price and you have a total of approximately $16,000 to play with during your negotiations.

The $13,000 discount that you were quoted is probably equivalent to around $3,000 over dealer invoice. If I was in the market for this car, I personally would want another Grand or two knocked off of its selling price. Having said that, your early lease termination complicates things. If you can get out of your current lease a year early and get this car for three grand over invoice then you're probably getting a decent deal.

Car_man
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heartofasia

Hi there,
Can any1 tell me if the lease I just got is okay.
2010 E-350 SEDAN
P1 & AMG SPORT PCKG
39 MOS, 12,000K
2800 OUT OF POCKET, ALREADY INCLUDED ALL FEES & FIRST MONTH
$749.00 PER MONTH TAX INCLUDED
RESIDUAL: $31,347.00

optimadesk

Car Man can tell you the official answer.

On my end, I think this is very competitive, at least from the rates that I am seeing. Most are around $750-$800 when you do no cap cost reduction. Inception fee sounds about $800 too high since dealer acquisition fees are around $800, tax and title around $450 and first month at $750 that you are quoted. Do you know what accounts for the extra $800.

Do you know the MSRP and selling price? What was the MF they used?

Good luck! CarMan, what do you think? Do others have any similar offers to share?

snewtie

Sorry for the delay, Its been madness I had the number backwards its 684! Its $56K MSRP for P1 luxury.

frogger97

Dear Car Man;

I have ordered an E350 4matic, P1 through a local dealer after negotiating a selling price of around 53K
No Lease rates were quoted because they said that these will change by the time car gets here around mid-October 2010 which seemed logical.

I am confused as to whether I should wait and start the lease in November 2010 or just start in mid October. The dealer wants me to start as soon as the car gets here as he feels the payments may go up??

Can you please help guide me here? What do I need to watch out for here?

Thanks

jayrider

bknyc -- there are lots of lease companies that are listing on swapalease from nyc. The payments are awsome on some models. vip leasing etc --- do you know anything about whether they are legitimate and if the listings are real or bait and switch.

aeggroup

I know VIP leasing and it's absolutely legitimate company. The other story is the deal you get from them. It all depends on a market conditions. Those companies use fleet discount to make purchase price less and that is why you get better lease. Many times even authorized MB dealer can't match those deals. I used Grand Prix leasing and they gave me better deal than MB dealer. The payment they advertise on swapalease is so low because it's usually 7,500 miles a year. And Yes - it's usually no money down - only first payment, bank fee and legal MTV fees.

jayrider

Thanks aeggroup--The deals change with the market for instance -- I was looking for a lease on a Q-7 quattro premium for a friend and the guy said he had one for $525 36 months 10k miles last winter. Nothing like that now. When my current lease is 2 months from the end will check on what is the best deal and perhaps drive to nyc get the car turn in my murano and take a vacation. Saw deals from grand prix and m&l as well. Will check them out for sure.

frogger97

I have ordered an E350 4matic, P1 through a local dealer.
No Lease rates were quoted because they said that these will change by the time car gets here around mid-October 2010 which seemed logical.

I am confused as to whether I should wait and start the lease in November 2010 or just start in mid October. The dealer wants me to start as soon as the car gets here as he feels the payments may go up??

Can you please help guide me here? What do I need to watch out for here?
How would I know what the rates and residuals are? What would be the current payments for this car with a sale price of 53K

Any help would be appreciated!

CarMan@Edmunds

Congratulations on getting your new E, heartofasia. I would be happy to give you my opinion of this deal, but it would be much easier for me to do so if you were to provide us with this car's MSRP and selling price first. You should be able to find both of those numbers on your contract.

Car_man
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CarMan@Edmunds

Hi frogger97. It is in the dealer's best interest to create a sense of urgency in you to finalize your deal ASAP. I doubt that they know whether Mercedes' November lease program will be better or worse at this point. Whet they do know is that they will begin paying floorplan interest on your car when it arrives and every day that passes after its arrival is another potential day that your deal could fall apart because you changed your mind.

I personally don't see any reason to stretch things out and wait until November to lease. It's possible the Nov. program could be better and it's possible that it could be worse. I don't think anyone knows for certain what will happen at this point.

Car_man
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aeggroup

My dealer told me that one of the best time to lease new E will be in December, because MB usually have December to remember program to move inventory before the end of the year. December will be the month with promotions and cash backs. That's what my dealer said.

Good luck.

frogger97

Thanks for the tip.
Here is what the dealer came up with.....Does this sound reasonable to you?

52900K 2010 E350W4 39 months 12000 miles per year is $817.37 incl. tax

He did not give me any RV or money factor. He did quote a finance rate of 3.99%

I would appreciate your help, as I know they can mark up the price for a profit.

frogger97

Thanks!

aeggroup

Ouch...is it so expensive today ???
last time i spoke with my guy - he said it will be around $750...

broadbandd

Hi, Car Man and other experts, I got a lease deal today from a local dealer. Please see below. Do you think it is a reasonable deal? Please help me. I personally think it is a fair offer. Thanks!

.Here is more information as well as a price quote on 2010 MB E-350.

E350W $48,600
775 Iridium Silver $720
101 Black MB-Tex

***** STANDARD ACCESSORIES *****
K15 Factory Code - Maintenance Interval
K22 software Control for lowbeam lamps
R02 All Season Tires
U10 Weight Sensing System - WSS
U12 Floormats
1U2 Snow screen for AC
232 Garage Door Opener
236 Daytime Running Lights
249 Autodimming Mirrors
264 License Plate Holder
265 Delete Elegance Badging
275 Power Dr.Seat & Steering Col. w/ Memory
279 Electronic Drive Position Selection
291 Pelvic Airbag
294 Knee Bag
301 Ashtray
309 Cup Holders
359 Tele Aid
414 Glass Sunroof
427 7-Speed Automatic Transmission
428 Steering Wheel Gearshift Paddles
461 English Inscriptions
475 Tire-Pressure Monitoring System
494 Emission Equipment
524 Paint Protection
543 Double Sun Visors
551 Anti-Theft Alarm System
580 Dual-Zone Climate Control
634 First Aid Kit
636 Collective Code
668 Sea Packing & Dispatch
690 Spare Wheel (Mini)
763 Remote Key w/Panic Button
800 2010 Registration Year
875 Heated Washer System
887 Lockable Safe Box
919 Cooling Amplifier
986 VIN# Code
989 Vin Code

***** OPTIONAL ACCESSORIES *****
P01 P01 Premium Package: COMAND with 40GB Ha $3,950
049 : iPod/MP3 Media Interface Cable
218 : Rear View Camera
512 : COMAND w/Navigation and Voice Control
518 : iPod/MP3 Media Interface
536 : SIRIUS Satellite Radio
540 : Power Rear-Window Sunshade
810 : harman/kardon Sound System w/Dolby 5.1
873 : Heated Front Seats
R08 R08 Wheel Package: 18" AMG Twin 6-Spoke $750
277 : Sport Steering Wheel
786 : 18" AMG 6-twin-spoke wheel
293 Rear Side Airbags
321 321 Sport Package: 18" 5-Spoke Wheels in
V04 : Tire Rating
51U : Black Roof Liner/ W212
677 : Sport Suspension
772 : Sport Bodystyling
951 : Appearance Code
954 : Avant Garde Package (Sport)
731 Burl Walnut Wood Trim
917 PZEV-Emission, USA

SUBTOTAL $54,020
DESTINATION & DELIVERY $875
TOTAL $54,895

Lease price is $ 51.000.Term is 39 months @10k per year.
Drive off is $2500.00
Monthly base is $708.40.00
Monthly tax is $65.53 base on 9.25%

Monthly payment is $773.93.00

anweisz

what are the residual and money factors for this 2010 car offered by Mercedes Benz
financial in October, for a 39 month 7500 mile per year lease. would appreciate
a prompt answer

CarMan@Edmunds

Hi broadbandd. You know that you're punchy after a looong week when you look at the term "Pelvic Airbag" and chuckle. Need more coffee .

OK, let's take a look at the deal that you were quoted. There is probably a spread of around $3,700 between this car's full MSRP and dealer invoice price. The selling price that you were quoted appears to be right around dealer invoice, which is an excellent deal.

Just make sure that the dealer that you are working with uses MB's current buy rate lease money factor of .00270 to calculate your car's payment and you're in business.

Car_man
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CarMan@Edmunds

Here you go, anweisz. Mercedes-Benz Financial's October buy rate lease money factor and residual value for a 39 month lease of a 2010 E350 Sedan 2WD with 7,500 miles per year are .00270 and 61%, respectively.

Car_man
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sh00k

i everyone! i am in nyc. here are the specs on my new e-class!

2010 E350 Sedan (Rear wheel drive only) (black exterior / black leather interior with ash (like marble) inserts)
P2 package
panaramic sunroof
18" wheels
------------------
sticker price for the car is about $57k

i traded in my 2006 scion xb with 37k miles on it.they gave me 8k for the car..

so it was my:
Scion XB = $8000
CASH = $3500
-------------------------
Total down = $11,500

monthly payments on the car (39 month lease, 12k miles per year) =$580/month.

Just to see how much i would be spending on the ride in total after the end of 3 years, i played with the numbers--
$11.5k down + ($580 x 38months) = $33540 total to lease the car.

Does this sound like I got an OK deal guys? This is the first ever lease I've gotten. I usually buy my cars outright with cash so this felt a little odd for me....

anyway, let me know... thanks and i wish everyone luck on their car search!!

jayrider

Since you didn't post what the actual selling price [cap cost] for the car was, it is difficult to evaluate your deal. By only looking at the after trade price there is no way to tell what the dealer discounted the car. Always negotiate the price before the trade-in. That said, you may have gotten a good deal, but there is no way to tell. One thing for sure -- 11k down on a lease is not a good idea.

sh00k

hey --

the total cost of the e350 came out to roughly 56k. you're right about negotiating the price first - i did not do that. i was more worried about them giving me a good price on my car. the bmw dealer was giving me 6k for my scion but benz wound up giving me 8k. the rest is cash.

why is it not a good idea to put down a lot in cash? i figure if i can afford it up front, it'll bring down the monthly payments considerably. i was looking forward to paying ~$800/month on the e350......

i ran the numbers so on my car with a sticker of 56k, leasing would come out to about 32-33k total - that's down payment + $580/month for 38 months...

does this info help? did i get a good deal? thanks for the heads up.

jayrider

Go with as little out of pocket as possible. Should your car be totaled, you will lose everything you put down. Go to edmunds leasing site to get more info. Also you can email the forum hosts to advise you. Keep all the cash down in the bank and use it to supplement the payments. Since you traded in a car that may change things a bit. See if they will let you roll the trade in $ into the lease. Also check out the 2010 passat's. Take a test drive in one and see if it compares favorably with the mercedes. Big $ savings for a eurosedan.

sh00k

thanks jay - those are some really good tips.

they did roll the 8k (from the car i traded in) into the lease. on top of that 8k, i am putting down $3500 in cash.

that brings the monthly payment down to $580/month for 38 months on a 2010 e350 sedan, p2 options package, 18" wheels, panaramic sunroof.

question - all costs for a lease should be what % of the cars sale price? is 50% a good number to shoot for?

i just did the math and it looks like, to lease the car for 38 months, i will be paying about 60% of the MRSP.

that is, on my 56k car, my trade in + down payment + 580/month for 38 months comes out to about $34,000 which is roughly 61% of the car's price.

man, i feel uneasy... that seems like a high number to me.....

jayrider

Lot of money for sure -- check out the passat-cc or 4motion. Plenty of sweetness for a whole lot less. I know -- it ain't a mercedes so if you have to have one I would use the internet to search for a better deal. May not be one but you can try. The deals on mercedes are not great at this time. Go to ridewithg.com and register. You can then post a question on this lease. Swapalease has deals for 699 and less zero down on the eclass -- check them out.

michaellno

Should your car be totaled, you will lose everything you put down.

You may want to check out the Nissan Maxima lease forum .. there is a sad tale of a poster who had this exact situation happen to him.

aeggroup

What's a point to know you gotta good deal or bad ?
You got the car already, so try to enjoy it. I'm sure it's better the Scion....
$11K down....wow.... ))

jayrider

I misunderstood the whole thing -- if you already leased the merc than there is no point to what I said. I thought you hadn't pulled the trigger yet. :confuse:

anweisz

tnx for prompt answer, however dealer says residual value of 61% is for
2WD coupe,while sedan is only 60%,for 39 months 7500 miles. Could
you clarify?

frogger97

Hi all;

Is getting a 39 month Tire and Rim insurance for $475.00 with tax worth it for the new E class??

What do you guys think?

bbell40941

What the heck does it cover?

aeggroup

If your car has Sport package - take it. I paid for my insurance ( rims and tires ) $380 for the length of my lease. I changed already 4 tires - $230 to $270 each...
insurance already paid off. Don't think twice.

frogger97

covers tires and rim cracks if you are in an accident or drive over a pot hole or construction holes etc

frogger97

Thanks for your post. I have the luxury package. Think he charged me too much? I can always have it cancelled within 30 days