I just walked into a Dealer in Los Angeles today. Here you go the deal; MRSP 51000, 27 Mth Lease, $4500 drive off, 10K / Year, the monthly pay is $545 without tax, with 700 MID FICO.
Does anyone know a better leasing program? Please HELP !!
this is what i was quoted for a new lease on a ML 500 pck gr 2 +exterior appearance group: msrp:58365 price 55600 trade in 14591 terms 39 mo rate 0.003815 (i have excellent credit...i was told this is MB tier 1) residual .59 allow 12000/year net cap cost 43209.92
monthly 536.85
can i have some help deciding if it is a good deal or not? i am brand new at thos leasing thing and not too familiar with rates and costs...
They are making money of the "rate" - more commonly called the money factor. With tier one credit the money factor on that car is .00325. Dealers often mark this up because the consumer has no idea what they should be paying.
Unless you have money to burn (likely several thousand dollars) you should NEVER trade in a car. They are probably planning on making thousands on this part of the deal.
Also - IMHO it is never worth putting money down on a lease. All you are doing is saving the interest expense on whatever you use to reduce the cap cost. You will end up fighting (probably unsuccessfully) to get it back if you total the car.
The residual is correct, but make sure that they are calculating the residual based on the MSRP, not the purchase price. Residual values have no connection to what you pay for the vehicle.
I just finished purchasing a ML500 and frankly think that I got a much better deal on a similar model. Feel free to contact me at moleary@grimeslog.com if you want some assistance. I can also send you an excel spreadsheet that will let you plug your own numbers in to double check the dealer.
Just read the latest ML350 lease offer at MBUSA. They charge a $795 acquisition fee plus a $595 vehicle turn-in fee. Almost $1400 in charges for the privelage of leasing!!
Ok - I would be grateful if anyone could let me know if I am on the right track here.
2007 ML350 Black on Black Premium II Heated Seats CD-Changer $3000 out of pocket to drive it off the lot (includes first month) $625 per month includes tax - 12K miles per year 39 months
an ML320CDI maybe be $5 less per month
I've been holding off to see if there would be a program in March but MB has been pretty select these days. With residuals on the move I am wondering if I should take this deal.
I had two leases terminate on very similarly used vehicles at the same time, so here is what I can share about that lesser known period of the lease: The Termination...
Driving my Audi was OK, but boy, the leasing department (Audi Financial Services in Detroit)was a very negative experience at lease end.
Niggling charges up the whazoo on a very, very undermileage car. Mercedes Benz was a wonderful experience on a similarly driven vehicle turned in only two weeks later. If a credit card covers it, MB don't charge for it. No turn in fees for wear and tear. Audi was horrible and had many unjust and even incorrect fees- it was a laundry list.
Somebody should tell AFS about customer service, it was a nightmare to reach anyone there. Of course, I couldn't even get a supervisor on the line at Audi to discuss the issues and the clerks were bored by my calls. I am very dissatisfied with Audi. Kudos to Mercedes though!
sale price $50,000 Down Payment $5,000 10,000 miles/year 39 months= $556+tax fico aprox.750 if anyone knows a dealer in the seattle area that can offer a better deal let me know
I think I received a pretty good deal after doing some haggling and leveraging an offer in writing on a Volvo XC90.
MSRP 48,095 that included the following: MF .0024 Resid .64 12k miles 27 Mths Premium package Heated Front seats Destination 775 Iridium silver 700 6 cd changer 440 Out of pocket 2600 included 1st payment
$549 / month
Originally they wanted 2.5k out of pocket, base car no premium package, for ~650 /month or 5k out of pocket base car for 530 month.
I think I did well...always haggle with a competitors quote.
I recently visited my local dealer (in Brooklyn, NY)and was quoted as follows on a 2007 ml350 with: -Premium 1 -DVD nav -6 disc cd changer -running boards -heated seats $599/month for 39 months, 12k miles tax, bank fee, 1st payment due at signing= $3,369(MV fees not included) Does this sound like a good deal?-MSRP is $49,545 and i believe the selling price is 46,100. FYI: Last time I checked my credit, back in January, I was tier 1. Now, the dealer is telling me I am not- do you think they could just be trying to charge me more money? Thanks so much to anyone who can help me!
I leased an ML320 CDI (Diesel) last day of Feb so keep that in mind as residuals changed but this may help.
Diesel is about $1k more then the ML350 to start Silver/Black Premium II (2) 6 CD changer Heated seats 1st 10K service included (not just the normal 1K or 3K look over) 12k per year 39 months $3k down included everything (first month too) $625/month includes tax.
Do I like the Diesel? Well yes...I am averaging 24.5mpg around the suburbs and on highways I've gone over 27mpg doing 65 or so. ML350 was a few $$$s per month less but I more then make up for it in fuel savings. Once you adapt to the characteristics of the power band for a diesel the "real world" performance is on par with the ML350 and once up to speed that torque really makes the ML fly.
Just leased a 2007 ML 350 with P1 package; heated seats; iPod connector; 6 CD changer; trailer hitch. 39 month lease; 12 miles for the following terms: - MSRP $48,260 - Cap Cost $43,135 - Residual 57% - Money Factor 0.00205 - Drive off $1,852 (no cap reduction except the acquisition fees) - Payment: $545.51 (+$45 california tax = $590.51)
Leased through the internet department of Downtown LA Motors. Awesome to work with and best deal around by far. Tried to sell me a "Wear & Tear" package for $1400 and then reduced it to $900 when i told him BMW's is $595. Ultimately i didn't get it.
Looks like a good deal wheatenv...the drive off was tags, taxes, etc? Can you break it down, the $1,852? I know it's a small amount, just looking to know the details as I've never leased before and am looking to do so later in the year. Also how much negotiating did you have to do to get to your cap cost? Thanks!
Didn't have to negotiate too much. I had low cap rates from other dealers for cars with fewer options and Dowtown LA Motors agreed to match the price on a percentage basis. Other dealers quoted a higher drive off and higher monthly payments for cars with fewer options, so i was very pleased with this.
I am planning to buy a ML350 on Employee Pricing. Please someone let me know if this is a good deal or would better shop around or bargain. Tier 2 MBUSA Credit
27 Months, 10K Miles, 2007 ML350, Black on Black, Detroit. Premium Package, Nav, 6 CD, Heated Seats. 475$ (Including Tax) for 26 months 795$ (AQU Fee) 2500$(Cap Reduction) 150$ (Tax on Cap Reduction) 200$ (Title and Document) 475$ (First Month) So it works out to: 475$/Month and 4100$ Down.
mercass, you need to know the selling price of the car ( a must), and one of : residual or money factor (since one could be backed out from the other, given the information above from your post)... But for simplicity, just ask the dealer for all 3 pieces of information.
given that the dealer did not provide this information to you, it's hard to say how good of deal you're getting.
On Friday, I negotiated a deal with a dealer, and put some money down to hold a ML320 for a week. I called the salesman today because I had an question about how much cash I wanted to put down. He then informed me that back in Nov. someone had bought the car, but had never picked it up. It was reported to Mercedes that the car was sold, so there is now 5 months gone off the warranty. Does this mean the car is now considered used?
Because I am leasing the car, I would still be covered under warranty the entire time, but I'm starting to feel uncomfortable about the whole situation.
I've found myself in need of a new SUV in the next few days. Could someone please tell me what the lease rates are for May. Residuals and Money Factor for all terms, please base on 15K/year. Thanks a bunch.
Has anyone had any good experiences with any Chicagoland (and surrounding suburbs) MB dealers? I went to a dealership today and they really tried to screw me. I let them run my credit which came back Tier I, but discovered they were trying to screw me with the following: ML350, P2 pkg, chrome Pack, TH, 6 disc, HS
MSRP 57,196 Invoice 54,000 MF .00249 Residual 53.5% No money down, taxes, fees included in note $858 monthly payment
I am in MD, I was just offer 33 months lease on 2007 ML350 with package 1 and heated seats for $4500.00 down includes tax, tag, first month and all the junk fees for $539.44 per month for 10K Miles per Year, The sale price is $43,100.00 Money Factor is 0.00175%. I'll have to pay $595.00 Drop off fee at the end of the lease, Is this a good deal??
I picked up a ML 350 with P2, Heated seats and cd-changer. MSRP $51,095. I negotiated a cap cost of $46,841 which works out to including all taxes a payment of $650 even a month. My out of pocket was $1760 including first month, acquisition fee (what a con that is!!!) and dmv. That worked out to a residual of 61% and money factor of 0.0016. I live in Manhattan but bought car from Phil Campbell at Prestige Auto in Paramus NJ.
Yes 33 months lease. I think I got a good deal based on what others have been paying. Then again, I only got the cap cost down to $1000 below invoice. I am sure he could have done more but I guess he should make some money too.
Anyone had any recent experience with leasing an ML500. I have been getting quotes in excess of $1100/ month for 15,000 miles per year and no money down. Seems high to me. Thanks
FYI, my dealer says the '07 320CDI gets the 61% residual for 33 months (10K/year), but not the low MF referred to above that the 350 gets. Base rate I was quoted was .00380!
That sort of negates the $2,000 dealer cash and high residual. Looks like I'll wait for an '08 (prices for which are just out).
Yes. It is a great car. I just sold my 05 525. I bought the 07 ML350 with premium 1, 6 disc cd changer and appearance package(this is a must). The car is super smooth, love the electonic shifter as it leaves space on center console, 21 mpg and extremely safe and solid. I dont have leather but the MB Tex is real nice,,Also get the black interior as gray just doesn't look good. Plenty of power from the 3.5 L untra refined V6. The X5 are nice but this suv is classy and the 7 speed tranny is smooth. Again sticker 49000 i paid 46190.00 @ 33 months 3k down .00175 lease factor 61 percent pymt with tax 640.00.
I'm fixing to begin shopping for a lease on a 2007 ML 350. I should have Tier 1 credit rating and would like a 33-36- or 39 month lease with 15,000 miles. Base with Sunroof. Can someone suggest what my numbers should. Residual-MF etc...
had huge problem with dealer on acquisition fee trying to slip in 795 fee after negotiating selling price. anyone have any feedback on the acquisition fee or "turn in fee"
thanks for the note! I'm negotiating right now on a 2007 ML350 since MBUSA is offering $3K incentive to dealers right now. there's a loaded model with a lot of extra goods I really didn't want but will consider if the price is right. so far i'm being high-balled on quotes but as time passes they're slowly coming down. will keep everyone posted.
by the way - has anyone heard prices for the EDITION 10 version? In terms of options, it's really ideal but I wonder if limited-production will hold a premium...
I think you got a good deal. Could you give me a little more information about this lease? Does $540 include taxes? What was the MSRP, sale price, residual and money factor? Where did you lease the car? Thanks!
Hi. I've just priced out a 2008 ML550 with Premium3 which comes to $65,900. Can someone tell me what a typical monthly lease payment would be given Mercedes current numbers (for 36 months, 12k/year) I'm looking for an alternative to the extremely expensive 2008 X5. THx!
Comments
MRSP 51000, 27 Mth Lease, $4500 drive off, 10K / Year, the monthly pay is $545 without tax, with 700 MID FICO.
Does anyone know a better leasing program? Please HELP !!
msrp:58365
price 55600
trade in 14591
terms 39 mo
rate 0.003815 (i have excellent credit...i was told this is MB tier 1)
residual .59
allow 12000/year
net cap cost 43209.92
monthly 536.85
can i have some help deciding if it is a good deal or not?
i am brand new at thos leasing thing and not too familiar with rates and costs...
thanks!!!
They are making money of the "rate" - more commonly called the money factor. With tier one credit the money factor on that car is .00325. Dealers often mark this up because the consumer has no idea what they should be paying.
Unless you have money to burn (likely several thousand dollars) you should NEVER trade in a car. They are probably planning on making thousands on this part of the deal.
Also - IMHO it is never worth putting money down on a lease. All you are doing is saving the interest expense on whatever you use to reduce the cap cost. You will end up fighting (probably unsuccessfully) to get it back if you total the car.
The residual is correct, but make sure that they are calculating the residual based on the MSRP, not the purchase price. Residual values have no connection to what you pay for the vehicle.
I just finished purchasing a ML500 and frankly think that I got a much better deal on a similar model. Feel free to contact me at moleary@grimeslog.com if you want some assistance. I can also send you an excel spreadsheet that will let you plug your own numbers in to double check the dealer.
Are my eyes deceiving me
ML 350 w/premium I and 6cd changer MSRP $46,695
License, "rental surcharge??", tire & battery fees $266
Bank charge $1,095
Dealer fee $599
Cap reduction (after asking for quote with $0 down) $986
Upfront taxes $192
Disposition fee $595
39 months
12k miles/yr ($0.25/mi over)
$566/mo + tax
Also offered first $5000 of damage & fist 1000 miles over "wear & tear" policy for $675
Thoughts anyone??
2007 ML350
Black on Black
Premium II
Heated Seats
CD-Changer
$3000 out of pocket to drive it off the lot (includes first month)
$625 per month includes tax - 12K miles per year 39 months
an ML320CDI maybe be $5 less per month
I've been holding off to see if there would be a program in March but MB has been pretty select these days. With residuals on the move I am wondering if I should take this deal.
Thanks in advance
Driving my Audi was OK, but boy, the leasing department (Audi Financial Services in Detroit)was a very negative experience at lease end.
Niggling charges up the whazoo on a very, very undermileage car. Mercedes Benz was a wonderful experience on a similarly driven vehicle turned in only two weeks later. If a credit card covers it, MB don't charge for it. No turn in fees for wear and tear. Audi was horrible and had many unjust and even incorrect fees- it was a laundry list.
Somebody should tell AFS about customer service, it was a nightmare to reach anyone there. Of course, I couldn't even get a supervisor on the line at Audi to discuss the issues and the clerks were bored by my calls. I am very dissatisfied with Audi. Kudos to Mercedes though!
Credit: over 730 Fico
Terms: 36 months, 15k miles/year.
I check all over the place and there are huge ranges.... I assume they should be around 60% for 15k miles, 36 months and around .0025 money factor...
Any insight is appreciated.
sale price $50,000
Down Payment $5,000
10,000 miles/year
39 months= $556+tax
fico aprox.750
if anyone knows a dealer in the seattle area that can offer a better deal let me know
MSRP 48,095 that included the following:
MF .0024
Resid .64
12k miles 27 Mths
Premium package
Heated Front seats
Destination 775
Iridium silver 700
6 cd changer 440
Out of pocket 2600 included 1st payment
$549 / month
Originally they wanted 2.5k out of pocket, base car no premium package, for ~650 /month or 5k out of pocket base car for 530 month.
I think I did well...always haggle with a competitors quote.
-Premium 1
-DVD nav
-6 disc cd changer
-running boards
-heated seats
$599/month for 39 months, 12k miles
tax, bank fee, 1st payment due at signing= $3,369(MV fees not included)
Does this sound like a good deal?-MSRP is $49,545 and i believe the selling price is 46,100.
FYI: Last time I checked my credit, back in January, I was tier 1. Now, the dealer is telling me I am not- do you think they could just be trying to charge me more money? Thanks so much to anyone who can help me!
Diesel is about $1k more then the ML350 to start
Silver/Black
Premium II (2)
6 CD changer
Heated seats
1st 10K service included (not just the normal 1K or 3K look over)
12k per year 39 months
$3k down included everything (first month too)
$625/month includes tax.
Do I like the Diesel? Well yes...I am averaging 24.5mpg around the suburbs and on highways I've gone over 27mpg doing 65 or so. ML350 was a few $$$s per month less but I more then make up for it in fuel savings. Once you adapt to the characteristics of the power band for a diesel the "real world" performance is on par with the ML350 and once up to speed that torque really makes the ML fly.
- MSRP $48,260
- Cap Cost $43,135
- Residual 57%
- Money Factor 0.00205
- Drive off $1,852 (no cap reduction except the acquisition fees)
- Payment: $545.51 (+$45 california tax = $590.51)
Leased through the internet department of Downtown LA Motors. Awesome to work with and best deal around by far. Tried to sell me a "Wear & Tear" package for $1400 and then reduced it to $900 when i told him BMW's is $595. Ultimately i didn't get it.
- Sales/Use tax $69.30
- License Fee $344
- Document prep fee $45
- Cal tire fee $8.75
- First month Payment $590.51
Didn't have to negotiate too much. I had low cap rates from other dealers for cars with fewer options and Dowtown LA Motors agreed to match the price on a percentage basis. Other dealers quoted a higher drive off and higher monthly payments for cars with fewer options, so i was very pleased with this.
Please someone let me know if this is a good deal or would better shop around or bargain. Tier 2 MBUSA Credit
27 Months, 10K Miles, 2007 ML350, Black on Black, Detroit.
Premium Package, Nav, 6 CD, Heated Seats.
475$ (Including Tax) for 26 months
795$ (AQU Fee)
2500$(Cap Reduction)
150$ (Tax on Cap Reduction)
200$ (Title and Document)
475$ (First Month)
So it works out to:
475$/Month and 4100$ Down.
you need to know the selling price of the car ( a must), and one of : residual or money factor (since one could be backed out from the other, given the information above from your post)... But for simplicity, just ask the dealer for all 3 pieces of information.
given that the dealer did not provide this information to you, it's hard to say how good of deal you're getting.
http://www.carspace.com/guides/How-to-Negotiate-a-Good-Deal-on-a-Car-Lease
http://www.carspace.com/guides/How-to-Calculate-Car-Lease-Payments
Because I am leasing the car, I would still be covered under warranty the entire time, but I'm starting to feel uncomfortable about the whole situation.
Thanks in advanced.
ML350, P2 pkg, chrome Pack, TH, 6 disc, HS
MSRP 57,196
Invoice 54,000
MF .00249
Residual 53.5%
No money down, taxes, fees included in note
$858 monthly payment
Has anyone had any goo
MSRP $51,095. I negotiated a cap cost of $46,841 which works out to including all taxes a payment of $650 even a month. My out of pocket was $1760 including first month, acquisition fee (what a con that is!!!) and dmv. That worked out to a residual of 61% and money factor of 0.0016. I live in Manhattan but bought car from Phil Campbell at Prestige Auto in Paramus NJ.
2001 Prelude Type SH, 2022 Highlander XLE AWD, 2022 Wrangler Sahara 4Xe, 2023 Toyota Tacoma SR 4WD
I would greatly appreciate any assistance.
Thanks!
- kp22
Did you use any special employee pricing or anything? the price and the money factor that you got are pretty good.
thank you,
-Oleg
33 mo, 0.00175 money factor, 61% residual, 10K/year.
46189.00(2k from sticker)
3175.00 down includeing fist month and fees
647.00 a month at 33 months lease rate. Thanks
I have really enjoyed reading the different posts. All the information really helped me discover what a decent deal should look like.
Here's mine, not the best but very doable by anyone.
2007 Mercedes-Benz ML350 AWD
Exterior Color: White
Interior Leather: Beige
Options:
Premium 1 Package
Sport Package
6-Disc CD Changer
MSRP: $48,245.00
Invoice: $45,522.00
Selling Price (Cap Cost): $44,022.00
Lease Term: 33 Months 10,000 miles annually
Down Payment: $4000
Monthly Payment (including 7.75% OC tax): $571.47
Money factor (.00185)
Acquisition Fee $1095.00 (They wouldn't budge on this)
Taxes $220.65
License Fee $352.00
Doc. Prep. Fee $45.00
Californina Tire Fee $8.75
Cap. Cost Reduction $1707.00
Plus 1st Payment $571.47
= $4000.00 Down
I did this through a broker - Fleet Direct in Southern California. Picked up the car at their office. Took 20 min. and drove away. No grief!
BMW could not go below invoice so MB won.
Have Fun!
residual 61%
33 months 10k a year
I read your previous post. Did you lease the ML 350? If so, are you happy with the car?
That sort of negates the $2,000 dealer cash and high residual. Looks like I'll wait for an '08 (prices for which are just out).
So does anyone know when/what the key lease values (Residual, Money Factors, etc.) will be for leasing a 2008? I'm a Tier1 FICO.
Also generally, how willing are the dealers willing to sell near invoice at the start of a new model year?
Finally, does anyone know what feature changes are in store for 2008 model?
Thanks in advance,
Marc
msrp 49970
sp 46572
residual 31481 or 63%
money factor .00205
12k
monthly 684
had huge problem with dealer on acquisition fee trying to slip in 795 fee after negotiating selling price. anyone have any feedback on the acquisition fee or "turn in fee"
i think they're both huge ripoffs.
nappleton autoworks - schererville, indiana
by the way - has anyone heard prices for the EDITION 10 version? In terms of options, it's really ideal but I wonder if limited-production will hold a premium...
Does anyone know the promotional Money Factors and Residuals for Tier 1 FICO and 10K Miles/Yr?
I'm going with a 2008 instead of a 2007.
Thanks in advance
Marco
10k miles/year
33 month lease.
$1500 down [tax, title, etc. extra]
Monthly payment: $540
Seems like a decent deal.
I am negotiating a lease deal on an 08' ML 350. Are the terms below 'a good deal?'
Any insight would be appreciated:
2008 ML350 - Non Metallic Paint
Options
040 Black
141 Black
P01 Premium Package 1
057 iPod Integration Kit
322 Appearance Package
324 Sunroof Package
819 CD changer
864 Rear Seat Entertainment Package
MSRP = $51,670
Invoice = $48,998.01
Lease - 33 months (best terms)
Drive-off total = $2,253.97
Cap reduction = $0.00
10k miles per year = $570.13 + tax
Residual = 64%
Money Factor = .00205
Drive-off total = $2,269.76
Cap reduction = $0.00
12k miles per year = $584.72 + tax
Residual = 63%
Money Factor = .00205
Drive-off total = $2,301.37
Cap reduction = $0.00
15k miles per year = $613.92 + tax
Residual = 61%
Money Factor = .00205
If you don't mind, I'm looking for the exact same vehicle. Where did you get this deal from?
Thanks,