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2018 loaner lease deal

emmykemmyk 29401Posts: 5
edited February 8 in Mercedes-Benz
Hi - new to this... can anyone provide feedback on the following deal option please?!
2018 loaner GLC (5k miles)
MF - .00087
RV - 55%
closing - $599
IMF - $500
2500 down - $482/mo
5000 down - $408/month
Have 2 months of old lease rolled in...
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Answers

  • MichaellMichaell ColoradoPosts: 127,866
    emmyk said:

    Hi - new to this... can anyone provide feedback on the following deal option please?!
    2018 loaner GLC (5k miles)
    MF - .00087
    RV - 55%
    closing - $599
    IMF - $500
    2500 down - $482/mo
    5000 down - $408/month
    Have 2 months of old lease rolled in...

    What is the MSRP?
    What is the selling price?
    What is IMF?

    We would advise against so much up front cash - usually, just the first month and any registration costs.

    Did you get a good deal? Be sure to come back and let us know! Post a pic of your new purchase or lease!


    MODERATOR

    2015 Subaru Outback 3.6R / 2014 MINI Countryman S ALL4

  • emmykemmyk 29401Posts: 5
    Thanks... seemed like a lot to me, too. MSRP 47k, 40,795 purchase, $500 IMF, 7500 miles
  • emmykemmyk 29401Posts: 5
    Beginning July 1, 2017, people who purchase vehicles in South Carolina will owe a new type of fee instead of paying a sales tax.

    Due to legislation commonly referred to as the Roads Bill, if you buy or lease a vehicle, trailer, semi-trailer, or other automobile on and after July 1, 2017 that will be titled and/or registered in this state, you will owe an Infrastructure Maintenance Fee (IMF) instead of sales tax. The IMF is in addition to applicable title and registration fees and property taxes. You will not be able to title or register the item until you pay the IMF.
  • kyfdxkyfdx Posts: 134,184
    emmyk said:

    Beginning July 1, 2017, people who purchase vehicles in South Carolina will owe a new type of fee instead of paying a sales tax.

    Due to legislation commonly referred to as the Roads Bill, if you buy or lease a vehicle, trailer, semi-trailer, or other automobile on and after July 1, 2017 that will be titled and/or registered in this state, you will owe an Infrastructure Maintenance Fee (IMF) instead of sales tax. The IMF is in addition to applicable title and registration fees and property taxes. You will not be able to title or register the item until you pay the IMF.

    Basically, $500 sales tax on every vehicle. Still a sweet deal, compared to most states

    Did you get a good deal? Be sure to come back and share!

    Edmunds Moderator

  • kyfdxkyfdx Posts: 134,184
    emmyk said:

    Thanks... seemed like a lot to me, too. MSRP 47k, 40,795 purchase, $500 IMF, 7500 miles

    Is it 36 mo, 7.5K/yr?

    Did you get a good deal? Be sure to come back and share!

    Edmunds Moderator

  • emmykemmyk 29401Posts: 5
    Yes, 36mo/7500 miles
  • kyfdxkyfdx Posts: 134,184
    emmyk said:

    Thanks... seemed like a lot to me, too. MSRP 47k, 40,795 purchase, $500 IMF, 7500 miles

    .00087 MF and 55% is correct.
    $599 closing - that looks like a dealer fee.
    $795 acquisition fee (often marked up to $1095).

    What we don't know, is if there is any further residual reduction to account for the 5000 miles.
    We'll assume there is no further reduction.

    The $2500 upfront and $482/mo looks about right. The $2500 isn't quite enough to cover the fees and first payment. (if it was, I calculate $473/mo.)

    Seems like a reasonable deal. I'd say the only way to get lower, would be to get a lower selling price.


    Did you get a good deal? Be sure to come back and share!

    Edmunds Moderator

  • emmykemmyk 29401Posts: 5
    My payment info doesn't have the acquisition fee as a line item - will have to confirm.
    It was my understanding the $2500 was just lump down payment and the fees/first month would be additional so i will have to confirm that as well.

    Thanks for the feedback. Not sure how much more they'll come down on price but we'll see!
  • kyfdxkyfdx Posts: 134,184
    emmyk said:

    My payment info doesn't have the acquisition fee as a line item - will have to confirm.
    It was my understanding the $2500 was just lump down payment and the fees/first month would be additional so i will have to confirm that as well.

    Thanks for the feedback. Not sure how much more they'll come down on price but we'll see!

    Yeah.. it's important to get every amount itemized, and full actual numbers.
    It's the difference between a good deal and a crappy deal.

    Did you get a good deal? Be sure to come back and share!

    Edmunds Moderator

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