2013 and earlier-Mercedes-Benz CLS-Class Lease Questions

kyfdxkyfdx Moderator Posts: 207,899
edited January 2014 in Mercedes-Benz
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  • csanchezcsanchez Member Posts: 4
    Hi Car Man: In addition to the BMW 650i, I am considering MB CLS500 2006.
    Using MB Estimator the MSRP $65675 (includes dest charge), accessories $690 heated seats, $70 wheel locks. $1300 Guzzler tax, total $67341, 36 months, 12,000 per month. great credit rating, is $1242/month a good price based on the MB Estimator?

    Again, thank you in advance.
  • jastroisjastrois Member Posts: 1
    I am taking delivery of a CLS 55 AMG for $1299/mo listing at $98K for 39mo 15000mi/yr all taxes etc included for $14.5K down.
  • CarMan@Edmunds[email protected] Member Posts: 38,514
    Wow, a new lease question discussion that I didn't even notice. Sorry for the delay in my response, csanchez. Let's calculate a lease payment on the car that you are interested in using Mercedes-Benz Credit's actual lease program and see what we come up with. According to my calculations, if you were to lease a 2006 Mercedes-Benz CLS500 (nice car by the way : ;) ) with an MSRP and a selling price of $67,341 (for now we will assume that you are not getting any sort of discount on this car - correct me if you are) through Mercedes-Benz Credit for 36 months with 12,000 miles per year, your zero down, pre-tax monthly payment should be around $1,022. This assumes that your credit is in good shape, you pay a security deposit, and that you pay MB Credit's $795 lease acquisition fee. If you are able to negotiate any sort of discount on this car, the selling prices of leased vehicles are negotiable if the market dictates that they can be, your lease payment would be lower than this. As you can see, the lease payment estimator on the Mercedes-Benz site is a little off. This is not surprising, most manufacturers' on-line lease payment estimators are not that accurate for some reason.

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  • jan4jan4 Member Posts: 2
    This will be my next car.. Good luck with it.. I leased my last MB from David Michael in Freehold.. Great service....
  • toshsk8toshsk8 Member Posts: 1
    I would like to know which is better. Leasing an expensive car? Or buying. Is it wise to put down 30k on this car and pay 1000.00 amount if purchased? Or is it better to pocket that money by putting less down, with a smaller payment? If it is lease, do you end up paying more in the long run if you want to buy later?
  • nc2nc2 Member Posts: 1
    I have been offered to take over lease of someone else for 17 months (out of original 24 months) of CLS500 with options like 19' AMG Type Wheels, Distronic, Parktronic, Phone System with VCS, Keyless Go, Sirius, Elec. Trunk Closer, Premium Package: Active Venitilated/Heated Seats, Elec. Window Shade, CD Changer, DVD Navigation, Harmon/Kardon Logic7 Sourround Sound, High Gloss Laurel Wood Trim and with 4200 miles on it for about $1,400/mo (including sales tax (in CA, about 8%)). With Lease Buy out price at $57,198.00. I would still have to pay lease transfer, registration etc. Looks pretty expensive to take over that lease? What if I take a new car w/ same options for 24 mos lease, what would be monthly cost and how much money would I have to spend upfront?

    I am new to lease :confuse: so please help me out.

    Thanks!
  • CarMan@Edmunds[email protected] Member Posts: 38,514
    Whether it is a good idea to lease or buy really boils down to how good the lease program is on the vehicle that you are interested in. Traditionally, Mercedes-Benz has not provided any sort of lease support on the CLS and I would have said that you would be better off not leasing it. However, a few weeks ago Mercedes introduced the first lease support that I have seen on the CLS500. This makes it a little more attractive to lease, but its program still isn't that great.

    Whether you will pay more to lease this car and buy it versus just financing it to begin with depends upon two main factors. The interest rate that you will have to pay to finance it versus lease it and whether you believe its residual value is accurate.

    Mercedes-Benz Credit's current lease money factor for the '06 CLS500 is .00300. When one converts this to an interest rate is is equivalent to around 7.2%. Even with the new lease support, there is no advantage to leasing interest rate wise because you should be able to get a rate that is at least this low to finance this car if your credit is in good shape.

    The other factor that I mentioned is this car's residual value. Mercedes-Benz Credit's current 36 month, 15,000 mile per year residual value for the '06 CLS500 is 62%, which is pretty solid. If you lease and this car ends up being worth less than this after three years, you come out ahead because you miss having to pay for all that depreciation. Of course, this assumes that you walk away from your car at the end of your lease and do not pay its inflated purchase price.

    After all this, I am fairly neutral on this car's lease program. It's not great, but it's not horrible either. You can't really go wrong with either leasing or financing.

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  • CarMan@Edmunds[email protected] Member Posts: 38,514
    Hi nc2. You are smart to compare the cost of leasing a brand new CLS to the cost of assuming this lease. I would be happy to give you an idea of how much it will cost you to lease a new one right now, however in order for me to do so I need you to provide me with the MSRP and approximate selling price of the car that you want. Let me know and I'll tell you what the payment should be.

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  • namja007namja007 Member Posts: 9
    Is the mf .0030 and residual still 62 percent for 36/15k
    I was at the dealership today. and he was saying the residual for 39 months was 62 percent. can you tell me the residaul for 39 compared to 36 months. Also how does the taxes work on lease in New york. I have leased a bmw and is going to finish this may. I always thought the 8.625 % tax was multiplied on the lease payment. However this dealer says that when calculated it is with a tax adjusted cap cost.

    Here are the numbers hope you can help with all my questions. thank you

    39 month/ 15k a year

    msrp $76784 Purchase option 46,950.08 (doesn't make sense with the residual)........capcost 72,809 . he states out of pocket $1421.54 and $1159.04 a month. can you calculate the numbers. thanks
  • CarMan@Edmunds[email protected] Member Posts: 38,514
    Hello namja007. Mercedes-Benz is actually providing lease support on the CLS500 for a change this month. The money factor and residual value that you were quoted for this car are correct. Mercedes-Benz Financial has a special program called "Value Added" that allows the use of 36 month lease parameters for 39 month leases, providing a lower lease payment. So, the numbers would be exactly the same for a 39 month lease of this car right now. Using the prices that you mentioned in your post, an MSRP of $76,784 and a selling price of $72,809, I estimate that this car would have a 39 month, 15,000 mile per year, zero down, pre-tax monthly payment of around $1,008.

    I am not personally all that familiar with how sales tax is calculated on leased vehicles in your area, but you may be able to find out more information on this subject by visiting one of the following sites: New York State Department of Motor Vehicles Internet Office or New York State Department of Taxation and Finance.

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  • rbirns1rbirns1 Member Posts: 311
    In NY, sales tax on leases are calculated:

    (Pretax lease payment) X (tax rate) X (number of months).

    A $1,000 lease payment on a 36 month lease, in an area with 8% sales tax, would have a total tax of $2,880. This amount is payable up front.

    Most people "roll" the tax into the payment, which just means the dealer will add that $2,880 to the amount being financed. Interest will be charged at the same money factor as the rest of the lease.

    If you have a favorable money factor (which you probably do, otherwise the lease itself would be a bad deal), then it makes sense to roll the tax into the payment and keep that money in your pocket. For one thing, if you get out of that lease early (including involuntary reasons like theft or total loss), then you will have wasted money by paying the tax upfront.

    My rule of leasing is to roll everything into the payment and pay as little as possible upfront, usually just security deposit and DMV fees. Never put money down on a lease, and don't pay taxes upfront.
  • CarMan@Edmunds[email protected] Member Posts: 38,514
    Thanks for the great information, rbirns1.

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  • johnnygxpjohnnygxp Member Posts: 3
    Hi Car Man,
    Thanks for taking the time to help me out. I have been shopping a CLS 500 lease at a few dealers in Miami-Dade County. I have a quote from one dealer. MSRP including destination ($775) and gas guzzler tax ($1300) is $74,675, selling price is $71,593. I have a 758 FICO. Can you work up a lease payment for me for 36-39 months, 12,000 miles and 15,000 miles? with $2000 down? This dealer gave me an estimated payments worksheet that looks like the payments are padded; $7500 down, $1039/mo for 39 months. I'm assuming the residual is set in stone by MB at 62%? I've read in earlier posts that the money factor is .0030. Another dealer worked up payments for me and used a .0045 money factor. Is the money factor negotiable? They also included a dealer fee of $600. Is this standard or padding? When calculating the lease is the gas guzzler tax and destination charge included in the MSRP? Thanks a lot!!

    Take care,
    John
  • namja007namja007 Member Posts: 9
    johnnygxp check your email that is an awful deal.
  • sonyahenosonyaheno Member Posts: 1
    Hello Car Man,

    My husband and I are trying to lease a CLS500, MSRP was $69,000 and we negotiated it down to $62000...Our credit is 718 and they wanted $2584 down, $872 per month for 39 months 12000 miles per year. Is this a good deal or should we continue to shop around?
  • gshocksvgshocksv Member Posts: 77
    Looks like this board does not generate too much traffic. I am looking to buy a CLS 550 in the next month or 2, I am just wondering how everyone's doing on their price negotiations? The salesperson I talked to told me he could get very competitive pricing on 06 CLS 500s, close to the invoice.... which sounds really tempting to me, but the new CLS 550 has 80 more horsepower, which is going to be very hard for me to ignore. The differencce between the 06 CLS 500 and 07 CLS 550 is probably going to be around $5,000 for the same level of equipments, perhaps more, does anyone have any opinions?
  • johnnygxpjohnnygxp Member Posts: 3
    Hi Gshock,

    I leased a 2006 CLS 500 three months ago for $1000 over invoice. If I were you, I would take the 550, period...it's better and newer. To get the best price, as you probably already know, go to 3-4 dealers and offer them a mini-deal - $1000 over invoice is fair. You'll need to put on a show and walk out a few times, wait for the salesman to follow-up and then get your mini-deal. With the 550 being so new, you'll probably need to let them make a little profit.
  • gshocksvgshocksv Member Posts: 77
    Johnny,

    Thanks very much for your reply, I agree shopping around is the best. I live in Aliso Viejo, right next to 2 of the largest Mercedes dealers in the world, so I'll definitely take advantage of my situation.

    A co-worker of mine just bought a SL550 (we went at the same time actually, he was suppose to wait for me to buy at the same time to get a better deal, but he couldn't wait). After driving the SL550, he just couldn't go back to the SL500 even though you can get almost $15,000 off. He did manage to get $5,000 off on the SL550. I think I'll be happier with the 07 CLS 550, for more hp and perhaps better equipment. I will update when I do pull the trigger.
  • hmhuberhmhuber Member Posts: 1
    Hello Car Man,

    Can you please tell me what the latest Mercedes lease factor and residual (in %) is for the CLS550?
  • aprilnjaprilnj Member Posts: 9
    :confuse:
    I have been goin crazy every dealer tells me something different so I REALLY need some sound advice here.

    I am looking to lease a 2006 or 2007 Mercedes CLS

    Okay, heres the problem. 1 dealer tells me to make payments less is better to lease 06 for 27 months AND another tells me no, no no better ro get the 07 for 39?

    I am real confused, I am was assuming get a leftover much lower price can pickup vehicle for $72,000 with original MSRP of $78,400(oh yes and MB is offering $2000 cash incentives to dealer on the 06 CLS).
    While the 07 with same options is $80,000 and I havent done much negiotated at this point with 07 as I figured smaller monthly payments on a 06 i.e. lower price? am I wrong? Need some help fast 2006 models are clearing quickly with the options I want.

    I have found an 2006 with all the options I want MSRP of $78,400- discounting to $72,000 I want a zero 0 down 39 month lease with just reg fees bank etc and no tax included with the payment a 10,000 mile a yr lease, 39 mos any figures to help with this deal- 1 dealer told me $1230 a month with like $5,000 total out of pocket!, I think he believes I am a total idiot! anyway... what should the numbers REALLY be? Since this is a 2006 and not many left I want to move quickly on this car, but dont wanna get ripped off either, thinking of calling the sales mgr directly and offering him a deal! car had been on the lot for a very long time any help, Thanks! P.S. have good credit. :confuse:
  • specialkcls550specialkcls550 Member Posts: 1
    I waited to buy the 550 because its night and day difference from the 500 big time and the MSRP was 78,815 and i only paid 70,092 Black premium 1 and AMG kit just what I wanted and ordered
  • hoffmanbhoffmanb Member Posts: 1
    How did you get such a good price?
  • ursula10ursula10 Member Posts: 2
    I don't know how to start a new post. I didn't see a topic with Mercedes CLS500. I am contemplating purchasing a 2006 Mercedes CLS 500. The dealer says he's giving me a good deal, but the 2006 costs just as much as the 2007. Granted the 2006 only has 41 miles and has more features like navigation and electric trunk closer, but the 2007 has more horsepower and is newer model. I'm just wondering what would be a good offer to make. The original price of the 2006 was $76,000 and they will sell it for $67,000. The new 2007 is $67,000. I am young and I look even younger (22), and I am a female and I don't want to be taken advantage of. When I initially entered the dealership everyone was hesitant to wait on me. Finally one person came over but it was easy to see that he didn't have my best interest at hand. Onlyafter checking my credit did he welcome me with open arms and take me seriously. He initially tried to sell me the car at face value. I left and he's called me every day almost for 2 1/2 weeks. On the 3rd day he called and informed me of the new price. I later found out that the lower price was what the car was supposed to have been selling for anyway. I guess if I had jumped on it, he would have sold it to me. Can someone HELPPPP me.
  • thorssthorss Member Posts: 1
    Need some help from someone more knowledgeable than me. I am looking at a 2006 CLS 500 with Premium package/ Navigation and the AMG Sports package. The dealers quoted $55,000.

    I was wondering if its worth paying cash down for it and driving it for a year and then selling it off. The other option is a loan and that payment is $938 a month.

    Would it better to buy, own, use & sell or to take a loan?

    Help, I need to take a decision tomorrow.

    Thanks in advance
  • eric312eric312 Member Posts: 71
    Does MB offer leases on used CLS500s? Does MB extend original warranty for the duration of the lease?
    How much should i expect to pay for used 2006 CLS500 on a 0 down 36 months 10K miles lease?
    Thank you
  • aprilnjaprilnj Member Posts: 9
    Yes Mercedes Definetily offers a lease program for them, HOWEVER, the dealers will try to push for you to lease a New-they will say cheaper-believe it IS NOT you can save Big Bucks going with a Brand Spanking Used Lease. Good Luck

    2007 CLS 550 Blk/Blk AMG Package Fully Loaded MSRP $80,000
    39 Month 10K $1178per month Toyal Out pf Pocket Was $3000.00
  • aprilnjaprilnj Member Posts: 9
    Yes Mercedes Definetily offers a lease program for them, HOWEVER, the dealers will try to push for you to lease a New-they will say cheaper-believe it IS NOT you can save Big Bucks going with a Brand Spanking Used Lease. Good Luck

    My Ride....
    2007 CLS 550 Blk/Blk AMG Package Fully Loaded MSRP $80,000
    39 Month 10K $1178per month Toyal Out pf Pocket Was $3000.00
  • aprilnjaprilnj Member Posts: 9
    Oh with a $0 Down just inceptions Id say a fair lease would be in the $800 range. GOOD LUCK..What are you paying for an 06? Sometimes it does make more sense to BUy if its cheap enough and YES Warranty remains the same
  • pgcd3pgcd3 Member Posts: 1
    Was $1178 including taxes?
  • madmaxz06madmaxz06 Member Posts: 3
    Hello car_man,

    Would you happen to know what Mercedes' best money factor is on a 2006 CPO CLS55 10,000/year with no down payment and perfect credit?
    Thanks,
    - Max
  • ericusnericusn Member Posts: 1
    Just leased a 2007 CLS 550 withPO1 option through Apple Leasing.

    MSRP: $71,815
    Purchase price: $70,157
    Down: $5,388 (includes 1st payment and TTL)
    Length: 39 months
    Payment: $1,079
    Residual: 32,257

    Apple leasing was great and I highly reccomend them. I started talking with National Vehicle Leasing. They offered a lower monthly price but th lease term is 60 months which they try to hide, obfuscate and misrepresent in every way possible.
  • ms09ms09 Member Posts: 112
    Hows the cl class?
  • rgriff436rgriff436 Member Posts: 1
    I live in Maryland and Im looking for an 2006 500. I see on other sites they are going for about 55k with avg miles. What is a good price to look for and is it too late to lease an 06.
  • blofeldblofeld Member Posts: 1
    ericusn,
    Are the schedule maintenance visits included in the lease with Mercedes? I've heard they are not... if not... what is the usual cost of the 13-15k scheduled maintenance visit? Thanks,
    jd
  • kerbkerb Member Posts: 190
    Hi, could you please provide current lease buy rates and residuals for 24, 27 (if any), 36, 39 and 42 month leases with 10K and 12K miles. Also, are there any current incentives (rebates and/or marketing support) available. Thx.
  • elonepbelonepb Member Posts: 4
    Currently driving a S500 coming off lease next month. Looking at the '09 CLS and the BMW 650. Both are nice, I'll go with whoever gives me the best deal.

    I'm a long time Mercedes driver, so the dealership wants to keep me as a customer and I've told them I'm looking at the BMW 6. She left a message for me today saying "We can be really aggressive, let us know what your expectations are and where you'd like to be."

    So what I need is an "aggressive" but realistic lease quote. Obviously I don't want to be focused on the per-month price, but rather, the actual selling price and go from there.

    Let's assume I want a fairly loaded CLS, it doesn't have to have the sports package, but that'd be nice. I don't see any in stock on their website http://www.benz4ever.com so I don't really have one to work with (as I know that'd be helpful).

    So without asking them to lose money, plus take into consideration any kind of demand... can someone recommend a good "aggressive" lease quote for 36 months 15K per year? Prefer nothing down other than what is required to drive off.
  • bmlexusbmlexus Member Posts: 755
    Currently driving a S500 coming off lease next month. Looking at the '09 CLS and the BMW 650. Both are nice, I'll go with whoever gives me the best deal

    If you could go a little more further, I'd say the CL is a lot better than the CLS or the bmw 6 series.

    Its 1 of the worlds best luxury coupe,

    Again I'll say if you can afford look at the CL at least once.

    The CLS is about a 3 year old model, and the 6 series is also about 3 or more years old.
  • mi7mi7 Member Posts: 31
    Hi guys, I bought a Lexus gs 8 momth ago and am frankly bored. I'd like my next car to be a cls550 with amg kit ( not 6.3 amg)

    Can anyone tell me where to start the negotiation process. I'm looking for at least p1 package with nav... Please help. Credit is probably tier 2 or 3 right now
  • mi7mi7 Member Posts: 31
    More info - the payoff amount of my gs is $38k...a dealer just told me there will be negative equity of $7k.

    Btw the quit I got is 83k for sport, amg styling, and premium. What do you guys think
  • mi7mi7 Member Posts: 31
    Just got a quit for $950/month including tax and 5k down. Is this good?
  • mi7mi7 Member Posts: 31
    omg why is it so hard to get a loan these days...got denied by mrrcedes financial even though I've got 720 fico and make $10k a month. This is crazy.
  • flenhoffflenhoff Member Posts: 12
    Hi, hope this discussion is still active. Anyway, looking at a 2011 CLS550--found one via a leasing site that says $649 month, 39 month lease, 7,500 miles per year. Is this legit? Also, why are all these leasing companies in NY area?

    thanks!
  • bwest1bwest1 Member Posts: 12
    Just saw the 2012 CLS550 at the dealer today, they will be available for sale the first week of June. Can you get the MF buy rate and Resid on this car for 36 and 39 months @ 7500 and 10k miles per year? Many thanks!
  • CarMan@Edmunds[email protected] Member Posts: 38,514
    Hi bwest1. I've heard that the 2012 CLS is amazing. I haven't had a chance to drive one yet, but my friend has and he loved it. Not surprisingly, Mercedes is not currently providing any lease support on it. As a result, if you were to lease one through Mercedes-Benz Financial, you would have to use its standard lease program. Its current buy rate standard lease money factor should be around .00240 or so for consumers who qualify for its "Tier 1" credit tier.

    Mercedes-Benz Financial's current residual value for a 36 month lease of a '12 CLS550 with 10,000 miles per year is 58%. The residual value for a lease with only 7,500 miles per year is 1% higher.

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  • lee_tymelee_tyme Member Posts: 3
    car man,

    hypothetically speaking what would be the residuals for 36 and 48 months 15k miles per for the '12 cls. i know the numbers havent been released yet but im just trying to do my homework. also the money factor should stay at .00240?
  • lee_tymelee_tyme Member Posts: 3
    Latest 2012 cls lease

    $999/MO

    39 months
    Base MSRP $71,300
    Premium Package/ P1 $4,390
    Active Multicontour Driver Seat $660
    Parktronic $970
    Transportation Charge $875
    Total MSRP $78,195
    Suggested Dealer Contribution $0
    Gross Capitalized Cost $78,195
    Customer Down Payment $3,679
    Net Capitalized Cost $74,516
    Term (in months) 39
    Residual 58%
    Money Factor 0.00210
    Monthly Payment* $999
    Customer Down Payment $3,679
    Acquisition Fee $795
    First Month's Payment $999
    Amount Due at Signing $5,473
    Mileage 10,000
    Total Miles 32,500
    Vehicle Turn-In Fee $595
    Total Lease Payments $38,961
    Total Payments $43,435
    Residual Value at Lease End $45,353
  • CarMan@Edmunds[email protected] Member Posts: 38,514
    There's no need to be hypothetical, lee_tyme. The residuals for the new CLS are here :). The standard money factor that you mentioned is correct.

    Mercedes-Benz Finance's June residual value for a 36 month lease of a 2012 CLS550 with 15,000 miles per year is 55%. The number for an otherwise identical 48 month lease is 49%.

    Car_man
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  • lee_tymelee_tyme Member Posts: 3
    thanks my brother
  • CarMan@Edmunds[email protected] Member Posts: 38,514
    No problem lee_tyme.

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  • 63amg63amg Member Posts: 1
    edited September 2011
    Hi, it's my first time posting on this board, but I have been a follower on edmunds for over 10 years.
    I went into the dealer yesterday just thinking about a test drive, but winded up bring home my dream car. Unfortunately, I wanted to buy, but MB Financial was only offering a lease to me. I really want to keep this vehicle for a long time and baby it for many years, but I am kind of bummed that I will be paying more for this vehicle in the long run. I think I got a good deal, but I wanted you guys to chime in and tell me what you think. Also, what are your thoughts on keeping the car after the lease has matured. Will that financially make no sense? Here is the breakdown.

    Term: 24 mos
    MSRP: $105,000
    Purchase Price: $98,573
    Capitalized Cost Reduction: $16,544 (from trade-in equity)
    Residual Value: $69,418
    12k miles/yr
    Monthly payment: $1,185
    * the money factor is not stated on my contract, but the dealership said that it is the standard lease and is the approximate equivalent of 8% APR. I can't negotiate the money factor, right?

    Also, they tried to sign me up for a 48 mos lease, but I changed it to 24 mos. (at 36 mos the monthly payment went up a little) Is 24 mos lease, ok?

    Thank you in advance for the input. Given the new model and all, I think I got a fair deal, but still feel a little "hustled" into a lease rather than a traditional loan. Correct me if I am wrong.
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