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2013 and earlier-Mercedes-Benz C-Class Lease Questions
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I'm interested in leasing a C250 coupe for 3yr/30k or 36k miles. Can you please let me know what the residual and money factor are?
Thanks,
Lance
I would really appreciate some advice as I am new to the lease process.
Good deal or bad - if bad, what areas should I try to negotiate to save $
C300, 4matic, 4 dr, luxury sedan, non metallic, nav- one disk, P1, rear camera
MSRP - $43,195 (incl. dest)
my price - $38,133.50
MF - .00156
Residual - 73%
10k mi/yr
24 months
monthly payment - $380 (incl. tax- PA)
Have $2000 conquest rebate and $2500 at signing which includes bank fees, first month, etc (?), and a portion to lower my monthly payment.
I guess one bottom line is - what are the fees that are included in the $2500 and how much of it is leftover to offset my payments? Been waiting for the breakdown from the dealer for 2 days and will be calling again tomorrow to get the exact figures (I hope). I would like to be better educated as to what fees should be included and what would be a reasonable amount for each fee so I can better understand what he's telling me and where I may be overcharged. Also, the choice to add some extra money at signing was mine but after reading some discussions in the forum I am thinking maybe I should reconsider doing that for a lease.
I can't seem to come up with the same numbers as the dealer so I guess I am missing something here and would appreciate any advice/info. Thanks
MSRP $39,795.00
Gross Cap Cost $33,816.00
24 months/24k
Monthly Payment: $370 (includes CA tax)
Drive off - $766.48
36 month/36k was $388 (includes CA tax), but I opted for 24 month. Dealer made 4 payments on the existing CLK350 lease.
Please provide me with the residual value and the money factor for both the C250 Coupe and C250 Sedan, for 36 months and 10,000 miles per year.
Also, are there any incentives? How does the conquest incentive work?
I live in South Florida
Thanks.
Ozzie
I have a 2010 ml350 on lease, and they are willing to take up the remaining 12 payments.
I have not gotten a quote yet, but want to be prepared.
Need Residuals , & Money Factor as well.
Looking for a 24k/24 mo , 30k/30mo, 36k/36mo with 0 Down.
Thanks in advance for the time and help.
J
Thanks everyone for sharing your deal info/experience. It was helpful for me to use the info from your posts to finalize a deal on my 2012 C300 4Matic Sport Sedan. Here are the details of my deal, to return the favor.
1) MSRP: $43,445 [Black exterior ($0), Black MB Tex ($0), P1 Package ($2,500), Command Package ($930), Burl Wood ($325), Destination ($875), 3yr Maintenance ($795), Winter mats included for "free"]
2) Sale price (cap cost): Qualified for Conquest of $2,000 (have BMW). Sale price is $37,795 ($37,000 for the car plus $795 for maintenance plan). Mercedes allows customers to capitalize the maintenance costs, so it works out to about $10 to $12 a month. This results in a net maintenance cost of ~$360 for the term of the lease, so, one is not paying $795.
3) Upfront/Drive-off fees: $1702 (First month, acquisition fee of $795, tax, title, registration, doc fee of $318).
4) Lease Terms
- $0 cap cost reduction
- 36 months / 12k miles per year
- Money Factor: .00132 (includes discount of .0001 for auto-pay)
- Did not opt for MSD (multiple security deposits)
- Residual: 62%
- Lease disposition fee of $595 (to be paid at lease termination)
- Monthly payment $387.51 pre-tax, $411.73 including tax
Dealer info: Mercedes Benz of Boston (Somerville, MA). Too bad I can't share sales person's info, he was an absolute pleasure to deal with. He had some funny stories about moonlighting as a bartender! I was also impressed by how open and honest the dealership was with me. There was zero resistance when I asked for information and they were extremely direct, in terms of negotiating the deal last week. They were flexible in allowing me to postpone the delivery of the car until the end of the month - as long as I paid the upfronts first.
Can't wait to pick up the car next week! The Harman Kardon sound system is ridiculously good!
Seems like you are getting a good deal, but something in your numbers seem to be off. I would recommend that you get the detailed breakdown of the $2,500 as you mentioned.
I ran your numbers ($43,195 MSRP, $39,133.50 Sale Price, .00156, 73%, 24mos) and get a monthly payment of ~$427 (before tax).
If you put $1,500 as a down payment towards the lease, you will lower your payment to ~$362 (before tax).
If you have extra cash, would suggest that you look into putting the money into multiple security deposits, instead of a down payment. You can lower your money factor by as much as .00049 (max reduction) - could be roughly $30 in savings per month. You can find more info on how to do this from other posts.
In terms of lease inception fees ($1600 to $1900 rough total):
- $795 bank acquisition fee (some dealers mark it up to $995).
- $289 dealer doc fees
- $123 registration, plates, etc
- $5 title prep
- $49 - tax on bank fee
- $x for first month payment
Goodluck!
Called the dealer and got a (somewhat better) breakdown and more numbers.
The sales price is actually $38,133 (incl. conquest). Invoice is $40,933
The $2500 at signing breaks down:
$995 - acquisition fee (incl. gap insurance)
$125 - doc. fee
$89.55 - Sales tax (am guessing that is on the $995???)
$94.90 - registration, tags (I think)
$380 - 1st month
$815 - down - cap cost reduct. I chose to lower payment
If I don't put out the $815 my payment will be $417 a month instead of $380 and I guess a small reduction involved with the tax on it. Also using auto pay will reduce it a bit.
The dealer seemed a little unsure about msd's and finally said that because of the low rate I am getting I can't do msd's. I assume he meant the money factor maybe combined with a fairly high residual but why would there be a restriction on it?
Do these numbers still make it sound like a decent deal? Thanks again.
I am new to leasing and am trying to figure out a monthly payment,
I ran the numbers you provided($39,133.5 Sale price, .00156, 73% 24 mos) Your saying the payment should be $427 (Before tax),
but I am getting $440 before the money factor, and taxes.
What formula are you using to calculate the monthly payment?
Thanks
If you see these post, Soupaman, I would really appreciate your take on my situation.
Thanks
Looks like a decent deal, but could be better. Here are my thoughts.
1) The numbers you are being quoted are aligned. Meaning, the money factor plus residual plus cap cost plus term all result in the two monthly figures ($380 and $417 respectively) so their math is good.
2) Lease acquisition fee of $995 probably includes $200 profit for the dealer, but then again your Doc fee is really low (I was charged $289 for doc fees). You may want to call other dealers to see where they are coming in at? When I called, I was quoted $795 from two dealers and the dealer I went to do the deal with, they charged me $995. I told them what other dealers quoted and they adjusted the charge to match others. I am not sure how the doc fees vary by state - maybe they do and maybe they don't. Regardless, your upfront fees seem okay - no red flags.
3) Think about how you want to handle maintenance. The 2yr/20,000 mile package is priced at $619 on mbusa.com. The dealer may mark this up as well. Regardless, people have posted that when they signed up for auto-pay the dealer included maintenance for "free". Basically, auto-pay would reduce your payments by $7 to $10/month. If you were to capitalize the $619 into your sale price of the car and the MSRP of the car, your extra monthly cost for adding maintenance would be ~$9. Therefore, your increase in payments for adding maintenance would be offset by the savings from the auto-pay option.
4) Lastly, I think you can push harder on the Sale price of $38,133. By knocking off another $500 off, you can save another $25/month. Feel free to look up my post on my deal (MSRP was $42,650 and sale price was $37,000) - and then i added maintenance for $795 to both of those numbers. My discount was $5,650 on a 2012 C300 4Matic Sport - deal done last week. Someone else posted that they have seen $6,000 discounts off of MSRP. That's very aggressive - I know that was done for 2011's without even having to negotiate.
Overall, you are getting a decent deal, but if you push a bit harder, you may get an excellent deal. Also, you may want to consider stretching out the lease term - I ended up doing a 36month because it was like $4 more per month. This way, my upfront costs (lease initiaiton,etc) are postponed for one more year (spread out over 36 months instead of 30 or 24 months). Personal choice of course.
GOOD LUCK!!!
I have built a simple model in Excel. A disclaimer is that my monthly figures are close, but it will never be exact to a dealer - probably because their rounding may be different than mine.
A good way to check the math is to plug in the variables in the given example (see link) into your calculator and see if you are getting the same monthly payments as they show. http://www.leaseguide.com/calc.htm
Regarding my calculations... The sale price seemed to changed to $38,133, but let's just use $39,133 to be consistent. MSRP is $43,195. To review, I am using 24 months as the lease term, sale price of or $39,133, $0 cap cost reduction, money factor of .00156 (this is about 3.74%), a residual of 73% (or $31,532.35).
Given these variables, the depreciation fee is $7,600 and the finance fee is $2,645. Add these two together, $10,246, and divide by 24 = $426.93.
Also, double check your lease term, money factor, residuals (are you calculating residual off of MSRP or on Sale Price), etc... For example, if I use 72% as the residual in my model, I get a pre-tax monthly payment of $444.
Cheers,
S
I am not following your situation exactly. Do you plan to sell your truck to the dealer or will you sell it on your own? Or, are you leasing it and want the dealer to absorb the remaining payments?
In any case, if your goal is to get into a Mercedes C-class under $620/month, you should be okay. Check out the deals others are getting. If you are concerned about paying money upfront to initiate the lease, it's about $1800 due up front typically. If you build this into the lease, just add about $80/month for a 24 month lease or about $60/month for a 36 month lease. These figures would be in addition to your lease payment and taxes.
The other thing you want to pay attention to is the money factor - this will be based on your credit rating. The .00156 is for tier 1 credit. That could be a little catch in determining where your monthly payment ends up at.
If you are leasing your truck and you want to get out of it, check out leasetrader.com as well. I do not work for them nor have I used them. Just heard about it recently and am trying to be helpful.
Good luck!
- S
2012 C250 Sport w/ Command single disc nav, sirius and spoiler
MSRP: 37690
Sale price: 35000
After USAA Discount(2k): 33000
48 month lease payment is $640/mo with 2k down/up front
They didn't give me the lease yet but they have the residual at 63%.
I told the dealer I would like to stay at 36 months or less but he said that would make my payment $755
Is this a good deal or do I need to go back to work? Sorry for the lack of deal info but the email I got from the dealer left a lot to be desired. I'm heading there in an hour or so to lock horns.
Thank you for your help so far!
You can buy the car for the same payment for 60 months..... :surprise:
Something is seriously wrong with those numbers....
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Car_man
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Car_man
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Prices Paid: Buying & Leasing Experiences Forum
The residual value for a lease with only 12,000 miles per year would be 1% higher.
Car_man
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Prices Paid: Buying & Leasing Experiences Forum
Mercedes is currently providing a $2,000 cash incentive on this car to current owners and lessees of competitive luxury vehicles.
Car_man
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Prices Paid: Buying & Leasing Experiences Forum
As far as this car's lease program goes, if you were to lease a 2012 C250 Sport Sedan through Mercedes-Benz Financial right now for 24 months with 12,000 miles per year, its buy rate lease money factor and residual value would be .00154 and 71%, respectively for consumers who qualify for its top credit tier.
The numbers for an otherwise identical 30-month lease are .00154 / 67%. the 36-month numbers are .00154 / 63%.
Car_man
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Prices Paid: Buying & Leasing Experiences Forum
Could you please post the current MF and Residual for C300 24 months/7500 mi.
Thank you.
I was told that the 36 month lease would be more expensive than the 24 month which is why I was leaning in that direction. Don't think I am doing maintenance with the 24 month. Chances are that I will only have one inspection before they'll be calling me to move into a new car and I only put about 8,000 miles a year on my car.
When I tried to balance up my numbers I finally did get to where the dealer was, but for a lease of 12,000 miles a year. Should it be lower with 10,000 miles which is what I asked for?
Also, does the $795 lease acquisition fee that you negotiated for include gap insurance as well?
Thanks, any input would be appreciated.
MSRP $43,890 (Palladium Silver, Blk MB-tex, P1, Comand, Lighting, 18"AMG, Keyless-Go, Rearview Camera, spolier and 2yrs Srvc Plan (Dealer cost $252)
I don't know the sales price since I need to go back to finish signing the doc. but I already have my $1k drive off (incl 1st month, registration and fees) taken thru my credit card.
24Mo. / 12k mi per yr
$1k drive off
$400/mo. including CA tax (8.25%).
Here is incentive I had applied:
1. $2k Cash Bonus being MBFS on our other R-class lease.
2. $1500 incentive being BofA employee.
Seems to be good deal. Let me know if any one like to have the dealer info.
Sorry to bug you but I went to the dealer last night right before they closed and I didn't get much done but that might be good since I have more time to research this lease. I wanted to put the specifics I have all in one post to see what my best case scenario would be. I have tier 1 credit and about 1-2K cash out of pocket is about all the misses will allow.
MSRP of 2012 C250 (w/ S32, 333, 536, 731 options): $37,390
USAA price of $250 over invoice: $35,000
Price after USAA discount: $33,000 (I also qualify for 2K Conquest but was told I can't stack deals)
Payoff on my 2010 Dodge Ram: $32,700
Trade allowance on RAM: $20,000 (consistent w/ the other dealers I've checked)
They said that they ran the rough numbers and I will be at roughly $640/mo with the full 2K down on a 48 month lease and the only lease number they told me so far was a 63% residual. My goal was to do a 36 or less month lease at or below my current RAM payment of $620/mo so I can walk away from my negative in 3 years or less when my military enlistment is done. I realize I've dug a pretty deep hole on the RAM but I'm wondering if I can find a better way to do this than a 48 month lease and $20 payment bump with 2K out of pocket.
Thanks!
I am not 100% sure what you are trying to do but here is what I think I get so far. Can you please confirm?
MSRP: 37,390
Sale Price: $33,000 + $12,700 = $45,700???
Money Factor: ?
Lease Term: 48 offered, 36 months desired?
Down Payment: $0 or $2,000?
Upfront fees: ~$1700 what you will pay at inception?
Residual: 63% for 48 months?
Thanks,
S
Thanks, again....I really am appreciative of your time, Soupaman
Got an update from MB and they said that the app came back and MB financing won't let me roll more than $4k negative. I think they are capped around 110% LTV but I admittedly don't know if LTV even applies to a lease. Needless to say, $6k down isn't an option so I guess no new Benz for me. I actually have a pre-approval for $40k at 3.24% for 72 months with up to 125% LTV that I'm sure I could bump to $43K but i have to run the amortization numbers to see if it would gain me anything. I would assume the Benz would hold it's value pretty well so it might make sense. Anyway, thanks for the effort on my behalf!
I am looking at the exact same vehicle for a 36 Mo lease term and when I went into the dealership I only said that I wanted to keep my payment below $ 500 . I am not aware of residuals and money factors until reading through the forum today. I am still not sure what the money factor is and I would really appreciate any help you can give me. They have come back to me with of course $500 a month for 36 months including tax but also wanting $2500 down. I have learned through alot of reading today that I should be able to do much better than this but I am not sure where to go from here. They called me back today to say that they can do the deal and asked if I want to wrap it up Friday. After speaking with a few people today, I think that they are also going to try to say that I need to also make the first month payment and bank fees when we get to financing.
It seems as though I should be able to get this car for even 30 months for less than $500 a month and also put less down. I am downgrading from an S550 so it is a big change for me but I am not sure if also this "Conquest" I am reading about applies to me as well. Is there any suggestions you have that may help me with getting this to a better deal?
Firstly, thanks for reaching out. Hope you had a great holiday celebration.
With respect to your car needs, I would say that you need to push the dealers as hard as you feel comfortable doing so. A lot of the folks who get the best deals on this forum really push hard, sometimes. It is not easy and can be uncomfortable, especially when sitting in front of them in their office.
My philosophy for negotiating with a car dealer is based on being as objective as possible and arming myself with the facts. Yes, there is no way to validate all the information on these forums (which is what the dealer will tell you), but when people are posting deal after deal, you will start to see some patterns.
The last week of November is a great time - where you, the customer, has the most leverage. Don't forget this - you have the support of the forum here as well!
Okay, so address your immediate needs - here is what I would do if I was in your shoes:
1) Check out the most recent deals posted to this forum and find the deal you would be happy with. Look at the MSRP of the car, how much money is required at signing and what the monthly payment is. Also, don't forget to take into account the term of the lease (24 months, 36 months, etc.) and how many miles you plan to drive every year). If you find one that is pretty close to your ideal, then you know what you should be paying.
2) Go to MBUSA.com and find all the mercedes dealers in your state. Call each of them and tell them you what you are interested in (in terms of the car specs). Ask for confirmation that it is in stock (get the stock number and the VIN number). For example, I knew that I wanted black on black with P1 and S32 for sure. I didn't want to pay extra for burl walnut, but had to bite the bullet because the deals for cars in inventory are better than custom ordered cars. Ask them for a quote for $0 down ($0 cap cost reduction) and their monthly payments without tax. Tell them you will pay the inception fees and first month up front, but you want them to quote you the total and details of this as well. Do not tell them what you are willing to pay - as you have experienced, they will come in a few dollars below your budget-price.
3) Let's say you find two dealers who have the same car in stock. Let's say that they quoted you something ridiculous, like your $2,500 down and $500/month. I would then disclose the deal I found on the forum (Step 1), but disclose it in a way that sounds like your offer. For example, "I am glad to see that you have the car I want. I am very interested in coming in to make a deal this afternoon, but I don't want to go back and forth. Here is my offer ($1,xxx due at signing, including first month payment, all fees, taxes, title, etc., $0 cap cost reduction, 36 months, 12K miles, maintenance, etc., and $400/month including tax). I will only come in if you can offer this deal on the phone. If we agree upon the numbers, I can provide a credit card for the deposit to secure the car. Otherwise, I will work with another dealer."
4) Lastly, don't forget that you have more leverage than the dealer. Don't get too bogged down about not knowing about money factors and what not. I would recommend that you learn about it, just google "lease payment calculator" - you should find plenty of sites that will walk you through the math.
5) Finally, if you want the same exact deal as mine, and it turns out that you don't qualify for the Conquest (although, I think someone mentioned a loyalty rebate), the additional $2,000 added to your lease would increase your payment by about $60/month. Still way under that $500 mark with $0 down. As you may have read, do not put any money as a down payment, it's not the best strategy for a lease.
I know this is a very long post, please feel free to lean on the forum and to ask me for more help!
Good luck and keep me posted!
- S
Sorry to hear about your deal falling through. Hang in there! I am sure you will be behind the wheel of a new car soon enough!
Good luck in the meantime and thank you for your service!
- S
Just landed a new C250 sedan loaded except the AMG package and the larger sun/moon roof.
Sticker was just over $42k
Gross Capitalized cost was $36k
The final deal - $2k up front (various fees, first month payment, and $77 in cap cost reduction). $399.66 per month (including CA tax)for 30 months & 12k / year.
Perhaps I could have squeezed a bit more here and there - But at the end of the day, I'm thrilled with the purchase - and the car!
Thanks again for sharing, folks!
Total due at signing $850.
10K miles/yr 36 mo.lease $435/mo including 7% taxes
Ct dealers can't do it, NY and NJ both can. Too bad not AWD though - Happy Hunting y'all.
Congrats on your deal - I saw your original post and was blown away by how great your deal was! I wish I saw your post before I negotiated my deal!
Hope you enjoy your ride, I am picking mine up tomorrow!
- S
Enjoy driving!
Today the finance guy called me and said the contract was wrong and want me to re-sign again. I took a look at the contract and here's the info:
Gross $37961 cap cost
net $37961 cap cost
residual value: $29593
Depreciation amortize amount: $8367
Rent charge: $2675
Base monthly payment: $11043
monthly payment: $368
Is this correct? Just a quick look in the forum and seeing what people are posting looks like $500 for a $38K car is incredibly expensive? Mind you I did not pay any downpayment or tax with the newer car. Is $368 correct? If so, according to the new number what should I do when the dealer calls tomorrow and tries to get me to sign for $500? Thanks for you help on a lease newbie ...
First off - a signed contract is a signed contract. However, the honorable thing to do is to figure out which of the two options are fair.
In order to figure this out, can you please provide the following? I will be more than happy to get back to you shortly with what you should be paying:
MSRP of the car in question: ?
Cap Cost (selling price of the car) of the car in question: ?
Cap Cost reduction of the car: $0
Lease Term: 30 months
Money Factor: ?
Residual Value: equals 29,593 divided by MSRP
Upfront fees added to the selling price: ?
Annual Mileage: ?
Other questions:
- Are you doing the auto-pay option (this will lower your money factor)?
- Does your lease include their maintenance package?
Thanks,
S
Thanks for reply and I really appreciate it. Here's the contract I am looking at:
MSRP: $43500
Gross Cap Cost: $37961
Gross Cap Cost Reduction: N/A
Lease Term: 30 m
Money Factor: (not stated)
Residual Value: 29593 / 43500 = 0.68
Fees: Acquisition fee 795, Sales/Use Tax $976, Star Service Prepaid Maintenance $994
$795 + $976 + $994 + Price of Vehicle $35195 = $37961 (Total Gross Capitalized Cost)
Mileage: 7500 miles
I am doing Auto-pay, and the lease does include maintenance package for 3 years so I don't need to pay for maintenance. This is my signed contract, and based on the signed contract, the amount I would pay is $368.10, whereas we had verbal agreement (which because I was paying a similar amount before, I didn't even know regarding any of the above) - would be $499, which was what I was expecting to pay. The finance manager wants me to re-sign a new contract, do they have the power to do that?
Can you please confirm that your signed contract is for $368.10 monthly payment (including tax) and now the dealer is asking you to re-sign the contract for a new monthly payment of $499 (including tax)?
Given the figures you provided here are some pre-tax figures:
1) Assume money factor is .00156: ~$385 pre-tax
2) Assume money factor is .00146: ~$378 pre-tax (w/ autopay)
3) Assume money factor is .00152: ~$382 pre-tax
4) Assume money factor is .00142: ~$375 pre-tax (w/ autopay)
5) Assume money factor is .00225: ~$431 pre-tax
6) Assume money factor is .00215: ~$425 pre-tax (w/ autopay)
I would recommend that you confirm the money factor the dealer is using to calculate your monthly payment. As you can see, it can make a big difference. Not sure if anyone posted the money factor for November for a 30-month lease with 7,500 miles for a C300. However, I haven't seen any above .00225 (and that was for a C350 coupe) so I would not pay a penny above $400/month (including tax).
Given that you are a loyal, frequent customer, I would expect the dealership to take care of you and bite the bullet for their stupid mistake. They would never allow a customer to renegotiate a deal after the customer signs the contract!
Like dl_amg stated, and I agree, $499/month is ridiculous for your car, especially given the serious promotions they are running. It is a bit obnoxious for the dealer to ask you to up the payment to $499 after the fact - that's not a good play in my book.
If you want to be fair and pardon the mistake, I would recommend that you pick a monthly payment that you think is fair (based on the money factor). For this, I think $400/month including tax and $0 due upfront is more than fair.
Given that you have a signed contract and it may be in your financial interest to fight for the lower payment deal (if they insist on changing it around on you). To figure out your rights, I would read the terms and conditions of your contract. There may be a clause where the dealer can cancel the deal without cause (not sure though). In this case, the dealer would burn a bridge with a loyal customer. I would hope they don't resort to this tactic given that they made a mistake!
Good luck and let us know what ends up happening,
S
The dealership is Mercedes Benz Manhattan. So the contract signed was $368 (with tax rolled in), and just got off the phone right now, they cannot honor this number, either we go back to the agreed upon number which is $499 or they can cancel the contract and I'd return the car. I didn't get to read Soupaman's message before talking to them, but I requested the information from the finance manager and here's the information:
MSRP of the car: $42120
Price of the car sold to me: $39383 (for $499 payment)
money factor: 0.00132
Price of the car in the signed contract ($35195)
They said they've utilized all of the incentives possible (for $39383), and I am getting about $1200 off from the invoice. They want me to sign a contract at $490 which would include the tax or they cannot do anything further. I think that's very far from $400 that you suggested. Is $490 still an outrageous number, are there other incentives that I could potentially take but they are not offering to me. I feel they just want me to sign the contract at the agreed price or they don't want to deal with me, although I did agree with a purchase contract to buy a $499. This is getting so messy ... suggestions?? My question is, based on their money factor, what is a fair number to pay (including tax). Also, what should the cost of the vehicle be? Thanks guys.