We are aware of the login problems affecting the forums, and appreciate your patience as we work on a fix.
Did you recently purchase a new Tesla, Rivian or Lucid vehicle directly from the manufacturer and willing to share how your experience compared to previous vehicle purchases made through a traditional dealer? A reporter would like to speak with you; please reach out to PR@Edmunds.com by 2/19 for details.
2013 and earlier-Mercedes-Benz M-Class Lease Questions
This discussion has been closed.
Comments
What's the total MSRP?
What's your local tax rate?
I'll run the numbers and let you know how they figured your deal.
Here are the lease numbers we have on an ML350 with MSRP of $54,740.00
Invoice is Approximately $51,455.60. Mercedes lease cash is $2,000.00. Selling the Car for $49,455.60, Gross cap cost $50,919.60, Payment is 814 per month for 33 month lease 12000 miles per year, money factor ..00185. residual $32,296.60.
When I inquired why the monthly payment was so high, the response was as follows:
The lease figures are with 1st payment down only. This is what it required by Mercedes. Most people would put taxes tags and 1st down. If you were to do this it would be $3952.88 down and $709.60 per month.
My questions are: 1) does their initial offer seem fair or should I try to do some bargaining? 2) does the amount she quoted me for tax/tags/first down payment seem right? 3) should I put the money down up front or just pay a higher monthly fee?
Thanks in advance for any input. I feel as I am in way over my head in dealing with the salesperson.
Received your request. Will run numbers and get you an answer shortly. What is your local tax rate?
I can confirm though, that the mf and residual she quoted you are indeed accurate.
MSRP: $54,740
Cap Cost: (agreed upon price): $51,455 (Dealer Invoice)
Cap cost reduction ($2000 MB lease cash): Adjusted Cap Cost: $49,455
Residual: $32,297 (59%)
Base MF: .00185
Terms: 33 mo/12k-m/yr
Lease Acquisition Fee: $795
Monthly payments figures based on different amounts due at signing:
$671.18 + tax (first month + tax, acqusition fee, dmv fees)
$696.74 + tax (first month + tax, dmv fees)
$718.25 + tax (first month only)
Let me know if you have questions...
Also, is it plausible that adding the monthly tax would bump up the monthly fee from $718 to $814 (which is what she quoted me)?
Finally, I did a little more bargaining and they are now willing to give a cap cost of $47900. I'm not sure if this is what they referred to as "gross cap." There was a discrepancy between what they said the sale price of the car was and the gross cap cost. Have you come across this before?
I really appreciate your input.
Let's just assume your sales tax was 7%. If your pre-tax monthly payments were $718, with tax you'd be at $768.26. The answer is "no", their numbers were wrong.
Does that Cap Cost of $47,900 include the $2000 lease cash? Also, ask them if they are capping the acquisition fee ($795) into your lease.
There is no security deposit required on this lease, so your drive off fees should really only be your first month's payment + DMV fees, and possibly a documentation & processing fee (ask them how much it is as it can be quite exorbitant in some states?)
Yes, dealer's make mistakes all the time.
2008 ML320 CDI
24 / Residual 67% – .00185
36 / Residual 55% – .00215
48 / Residual 45% – .00215
60 / Residual 42% – .00320
2008 ML350
24 / Residual 62% – .00185
36 / Residual 53% – .00215
48 / Residual 40% – .00215
60 / Residual 37% – .00320
Rates based on 15k annual miles. Add 2% for 12k & 3% for 10k.
Since regions vary, ask your local MB dealer if they have a special 33 mo term on the CDI. If so, they'll utilize the 24 mo. money factor.
ML 350- msrp 52,570
33month/12k, $0 down, taxes in payments(Nassau county, NY) = $664
ML 550- msrp 60,660
33month/12k, $0 down, taxes in payments(Nassau county, NY) = $778.79
Any thoughts?? thanx!
ML 350 Iridium Silver with black MB Tex
Premium II pkg with: Ipod, Parktronic, 6 Disc, Running boards
MSRP $53,290
Selling price $45,182, Total drive offs of $2,000
Monthly base $566 and $610.00 including tax.
Money factor based on .00185, 60% residual
Mileage allowance at 10k although this dealer was so easy going probably could have bumped it up if I wanted to at no extra charge.
Email if you want his name and info. located in San Diego County. Chadbarrick@aol.com
MSRP: $$56,071 but marked down to $46,061 as part of Memorial weekend special
Down payment: $7000 (including tags, title, etc.)
Monthly payment: $536.00
Features: ipod integration, P1 package, heated front seats, side running boards
Residual: .56
Term: 33-months
Mileage: 10k
I'd recommend paying minimum drive off fees only.
Both dealers quoted me $7-8k in order to get us down to payments in the 5's. We're expecting so it's important we keep our payments low. The $7k figure quoted was after everything was factored in.
I'm also concerned because I see MB.com has new June/July lease figures up of $549 a month and $4694 down (excluding taxes, title, etc.).
Thanks again.
Also, the 33mo/10k residual is 59%, not 56% as you specified.
The dealer contribution (expected discount assumed by the factory)/cap cost reduction on the vehicle listed in the lease example on MBUSA is very similar to your build. Per the ad they have basically capped the cost at invoice. Now, the past several months, the ML350 has also included a $2000 lease cash incentive, and although I don't have any information on whether or not it's been continued into June yet, I can't see it going away.
My point to all this is... if you were to have them sell you the car at or near invoice (~$3500 off MSRP), then use the lease cash incentive ($2000) as a cap cost reduction/down payment, you'd be at ~$597/mo + tax, and all you'd need to give them at signing is your 1st mo payment + tax ($597 + tax), lease acquisition fee ($795) and Gov't fees (~$500). Your total drive offs would be ~$2000, you'd have payments in the price range you want and you put the remaining $5k in your pocket for a rainy day.
I'm not sure what your local tax rate is, but assuming 7.75%, your payments would be ~$643/mo out-the-door. If getting in the 5's is important, take an extra $1300 out of your pocket to reduce the cap cost and you'd be around $597/mo otd.
Curently with MB lease special for 33 months and 15k per month for P! package I get
MSRP $48,950
Cap price 43,749
Money factor 0.00205
residual 56%
Driveaway fee = 4k (including 1st month payment)
Monthly payment 588 + 8.25 tax = $636.
For the P2 with the heated seats I get $688.per month.
Is that a reasonable deal ? or do people get better bargains. I am in Northern California and am thinking of checking out Los Angeles as well.
56% is correct residual for 15k -- 33 mo money factor is .00185.
There is also a $2000 lease cash incentive. You should utilize this towards your cap cost redcution. There's a spread of ~$3500 from MSRP - Invoice on this vehicle. You should easily be able to negotiate a price at, or very near invoice, then apply the $2000 lease cash as a cap cost reduction/down payment.
Im looking for a ml350 or 320 cdi and this will be my first lease,
I have just recently began establishing my credit, and my state sales tax is 7%
What should I expect to pay, both down and monthly? And do you think a higher down payment will get me approved easier?
Also general question: Has anyone else noticed how crazy low the insurance is on the ml? According to Esurance, its like a hundred a month cheaper then another car of the same cost and class
You'll probably need a co-signer if you have little or no credit history.
Have you been on the credit bureaus long enough to have a FICO (credit score)? If so, do you know what it is?
As an FYI my last lease was an ML, I leased a 07 ML320 CDI (diesel) with nav, heated seats, 6 disc, harmon kardon, convenience package (dimming and folding mirrors, power memory seats and power wheel), first 10k service free (ask for that just before signing), 12k miles per year, 39 months for $625 (includes tax.) and $3k out of pocket (includes all fees and no security). Yes I did this last year and packages are now different for 08s but the special last year was much like this year. $4,500 down, $549ish per month, (39 month) 10K miles per year and no nav, no CD changer, no heated seats or convenience package and did not include the diesel which is $1k more to start. I did this in Feb 07.
I also shopped BMW and I still found MB leases the most attractive when all was said and done - just push the dealer and shop around.
Good luck
As for the special lease, here's how it's structured and maybe this will shed some light on why your numbers didn't add up:
Terms: 33mo/10k-mi/yr
MSRP: $50,045.00
Cap Cost/Selling price: $46,553.43
Residual: $29,526.69 (59%)
Rate: .00185
Term: 33 months
Down Payment/Cap cost Reduction: $3350 (due at signing)
Adjusted Cap: $43203.43
Acqusition fee: $795 (due at signing)
$549/mo + tax. (due at signing)
The cap reduction, acq fee and first mo account for the $4694. Remember, there will also be Gov't fees due at signing.
There's a spread of ~$3500 between full msrp and invoice. You should be able to have them sell you the vehicle at or very near invoice. Then, there is also a $2000 lease cash incentive, so definitely use that to reduce the cap cost even further. Net effect, you should be able to get this vehicle ~$2k below invoice.
So... for example, if you were to lease the exact car listed in the ad and they capped the cost at ~$2000 below invoice ($44,545), with $0 down, only acqusition fee, 1st month, and gov't fees due at signing, you'd be at ~$593/mo + tax.
ML350 Alpine Rain with PII, iPod, Appearance, trailer, 6 disk, and heated seats
MSRP: $53280 + fees
My Price: $47,000
Drive-Off: $1260.61
Term: 33 mths
12K per year
Monthly: $769.65 + $63.50 (tax) = $833.15
Seems a little high. When I can get a loaded RX400h for $817 with $1000 down.
Any advice would help.
Your tax rate appears to be 8.25%, am I correct? You need to clarify with your dealer that he is indeed utilizing MBC's base rate of .00185. The 33/mo 12k residual is 58%.
Good Luck!
I was offered this deal and think it is good, especially considering the 15k miles/yr. I welcome comments...
$584/month without tax...$629.32 with tax
ML-350 with Premium 1 package (Nav, rear camera, power liftgate, etc,)
Money factor is .00185
Residual is 56% at 15k miles/year.
33 months
Selling price $42,245
$2000 down
This is a breakdown of the $2000.
Lic/Reg fees $344.75
First payment with tax $629.32
Lease Acquisition fee $1095
Dealer Doc fee $45
Tax on Lease acquisiton and Dealer doc fee - $88
This is a total of $2202.42 so the extra $202.42 (funded from dealer) was rolled into the selling price to offset the minimum drive offs.
Thanks.
Thanks for the tip. They agreed to the $795, and dropped the monthy to $562 as well.
As the saying goes, "Knowledge is Power" and thanks for sharing yours!
Also, what is it with MB saying they have 3.9% financing and Edmunds showing a 2.9% rate??
Car_man
Host
Prices Paid: Buying & Leasing Experiences Forum
Thanks
can anyone tell me what i should expect to pay for a 52k CDI in the chicago area, the dealer offered it to me at invoice, i think there is more room, but just how much?
also what should the money factor be on a lease and what and are there any other dealer incentives out there? what should i be looking for in the deal, this is my first MB lease. Thanks in advance for any help or guidance.
33mo lease with 10k miles/year
$1115 drive off
$618+tax
ML 320 CDI
MSRP 51680
Dealer offer: 45420 + Tax + 3.9% financing for 24-66 months.
opininos, this is invoice - 3000 Mb cash.
does the deal get better?
James
Thanks
Need all the facts for an informed purchase
Will post all of mine if / when I work out the final details.
ML 350
Iridium Silver
Black Tex Interior
P2
Heated Front Seats
Blue Tooth adapter
Sunroof Package
Ipod Integration Kit
6 Disc Changer
33 months, 12k miles no money down other than drive off costs (about $1800)
The best offer I had was from a friend's dealership with no profit and he wants to charge $660 which includes tax. The other quote I have is not from a friend (friend's dealership is 1.5 hrs away so will most likely not go there) and it is for $670/month. I actually have two dealerships that will do this deal. MSRP $52770
without Bluetooth adapter (price of about $500).
Thanks in advance for the info.
2009 ML350 white /cashmere
P1 package
$1,902.07 drive off
15k miles
$552. plus tax.
cap 44999,
33 month
1500 miles /month,
1300 total drive off,
total 622 + tx.
quote #2 total drive off 2200,
584 +tax = 629/month. Are these good deals? May consider P2
However I really like the ML 550 but dealers tell me payments would be close to +$1000. as no dealer or MBZ manufacture incentives.Is that why payments would be almost 2x as ML350?.Do you think is possible to get a payment for the same terms in 700-800 range? Longer lease term? 36?
Also iam going to ask for buy off of my 2002 S500. Do I use this as a down payment and buy? Concerned about market and huge loss i've incurred already in purchasing. Any comments would be appreciated.