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Residual and MF

EldeeEldee Member Posts: 25
edited November 2020 in Mercedes-Benz
Could you reply with the MF and Residual for a 2021 GLC300W zip code 30024

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    kyfdxkyfdx Moderator Posts: 243,859
    Eldee said:

    Could you reply with the MF and Residual for a 2021 GLC300W zip code 30024

    RWD?

    What term and mileage allowance?

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    EldeeEldee Member Posts: 25
    12k 36mo RWD
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    EldeeEldee Member Posts: 25
    ooops its a 2021 model year
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    kyfdxkyfdx Moderator Posts: 243,859
    Eldee said:

    12k 36mo RWD

    .00103 MF and 56% residual
    $500 incentive

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    EldeeEldee Member Posts: 25
    When I multiply the payment of 828 per month by 36 months add that to the MSRP 51610 x .56 I get (29841 + 28901 = 58742) that is a $7k+ Spread. What am I missing?
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    MichaellMichaell Moderator Posts: 245,355
    Eldee said:

    When I multiply the payment of 828 per month by 36 months add that to the MSRP 51610 x .56 I get (29841 + 28901 = 58742) that is a $7k+ Spread. What am I missing?

    You aren't accounting for the interest you pay on the lease.

    Use this link to help better understand how a lease payment works:
    https://www.edmunds.com/car-leasing/calculate-your-own-lease-payment.html

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    EldeeEldee Member Posts: 25
    In order to arrive at the 823 per month payment I would be at 7% rate. But the .00103 should be 2.46%, right?
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    MichaellMichaell Moderator Posts: 245,355
    Eldee said:

    In order to arrive at the 823 per month payment I would be at 7% rate. But the .00103 should be 2.46%, right?

    What are you using for the adjusted cap cost?

    Where did you get the 7% rate from?

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    EldeeEldee Member Posts: 25
    In order to account for the 7k in difference between .56 residual + the payments calculated using .00103 mf (2.46%) the rate would have to be increased to 7% in order to arrive at 828 payment. There’s only 3 numbers MSRP - (payments + residual) = total cost + interest
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    MichaellMichaell Moderator Posts: 245,355
    Eldee said:

    In order to account for the 7k in difference between .56 residual + the payments calculated using .00103 mf (2.46%) the rate would have to be increased to 7% in order to arrive at 828 payment. There’s only 3 numbers MSRP - (payments + residual) = total cost + interest

    Can you show all your math; I'm not sure I understand how you are calculating this.

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    EldeeEldee Member Posts: 25

    51610 (MSRP)
    48610 neg price
    2.46 (.00103 MF) (quoted by moderator for my zip code)
    28901 (.56 residual)
    7% sales tax
    670.81 payment

    The only way I see to get to $828 payment is juicing the interest rate to 7%.
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    MichaellMichaell Moderator Posts: 245,355
    Eldee said:


    51610 (MSRP)
    48610 neg price
    2.46 (.00103 MF) (quoted by moderator for my zip code)
    28901 (.56 residual)
    7% sales tax
    670.81 payment

    The only way I see to get to $828 payment is juicing the interest rate to 7%.

    Not necessarily.

    The negotiated price may not be the same as the adjusted cap cost.

    If you are not paying the acquisition fee or dealer fee up front, they get added in.

    And, who knows what else the dealer is trying to slip in there.

    Ask for the adjusted cap, and a full breakdown of how the dealer arrived at that number from the negotiated price.

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    EldeeEldee Member Posts: 25
    edited November 2020


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    MichaellMichaell Moderator Posts: 245,355
    Eldee said:



    I don't see the acquisition fee listed there (base is $795, but pretty much every MB dealer marks it up to $1095)

    Looks like the dealer needs to get you more detail behind the payment quote.

    The MSRP and Total price numbers gives me $710/mo.

    MF may also be marked up, but not likely as much as you think.

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    EldeeEldee Member Posts: 25
    Could you help me understand the spread between this calculation and your 710/mo. And, thank you for your help on this!

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    MichaellMichaell Moderator Posts: 245,355
    MSRP $51,610.00 sticker price of vehicle
    Net Cap Cost $51,468.00 net capitalized cost of vehicle (add taxes + fees, subtract cap cost reduction)
    Residual 56.00% percentage of the MSRP that the vehicle is worth at the end of the lease
    Money Factor 0.00103 used to calculate interest paid ("rent charge") during the lease term
    Interest Rate 2.472% money factor * 2400
    Lease Term 36 length of lease, in months
    Residual Adj $ $0.00 Residual adjustment for existing miles (enter as a negative number)
    Residual Amt $28,901.60 MSRP * residual % (less residual adjustment, if less than $0)
    Depreciation $22,566.40 total depreciation (cap cost - residual value)
    Dep Payment $626.84 amount of payment for depreciation (cap cost - residual value) / term
    Rent Charge $82.78 amount of payment for rent charge (cap cost + residual value) * money factor
    Pre-Tax Pmt $709.63 sum of depreciation and rent charge

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    EldeeEldee Member Posts: 25
    Michaell - I sent you a PM
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    MichaellMichaell Moderator Posts: 245,355
    Eldee said:

    Michaell - I sent you a PM

    It's better to post here ... I'm not good at following up on PMs

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    EldeeEldee Member Posts: 25


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    MichaellMichaell Moderator Posts: 245,355
    Eldee said:



    Thanks for this.

    With the MSRP of $51,610, the adjusted cap cost of $51,480 and the 36/15 residual of 56%, the MF has to be .00183 to achieve that payment.

    So, marked up, quite a bit.

    Tell the dealer you'll walk if you don't get the base MF (you don't have to disclose that you know the actual base MF of .00103 - they know what it is, already).

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    EldeeEldee Member Posts: 25
    can you help me find the sales tax in this deal?
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    kyfdxkyfdx Moderator Posts: 243,859
    Eldee said:

    can you help me find the sales tax in this deal?

    From the first doc:
    Title Ad Valorem tax

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    EldeeEldee Member Posts: 25
    So - looks like I'm going shopping. They refused to adjust the MF. Would there be any other part of the above deal that should be negotiated? And - THANKS - for the help on this!
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    MichaellMichaell Moderator Posts: 245,355
    Eldee said:

    So - looks like I'm going shopping. They refused to adjust the MF. Would there be any other part of the above deal that should be negotiated? And - THANKS - for the help on this!

    Use this link to help determine the target price:

    https://www.edmunds.com/new-cars/

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