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Mercedes-Benz E-Class Lease Questions
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(Los Angeles, California area dealer)
2006 E350 Sedan
Iridium Silver with Charcoal Leather Interior
Premium Package with Panorama Sunroof
Wood/Leather Steering Wheel
MSRP: $57065
SELLING PRICE: $49796.77
39 Months
10K miles per year
$4294 Total Driveoff
$549 + Tax = $572 Including Tax
.00235 Money Factor
$34,809 Residual for 10K miles
I am new to the forum and am seeking advice on a lease. I am looking for a Mercedes E350 or E500. I am in the L.A. area and here is the best deal I have received for an E350 from a dealer so far:
E350
MSRP: $53,575
Total money down $5,500 incl. tax
Monthly payment: $650 plus tax
12,000 miles per year, 39 month lease
Is this a good deal? How do I best negotiate with the dealer (what arguments do I use)?
I'm pretty sure my total down was too high but other dealers were trying to charge me $5300-5500, so I was fine with the $4295. I read afterwards on Edmunds.com leasing tips that you don't really want to put any down at all (see leasing tips page for reasons), but at least I've learned my lesson. You also want to know the residual, etc., so read the leasing tips page for all the reasons.
What I did to get my final offer was ask different dealerships for prices via email and phone. Once I started getting pretty good quotes, then I asked other dealerships to match it. For ex., I got a pretty good lease deal in Beverly Hills (via email and the phone), then I emailed a San Diego dealership and asked if they could match it (because I live in San Diego).
Hope that helps!
Car_man
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You can determine approximately how much it will cost you to get out of your current lease by comparing its purchase price to its value on the open market at this time. You should place a call to the bank that you are leasing your vehicle through to find out its exact price. Once you know exactly how much money it is going to cost you to buy your leased vehicle you need to compare it to its current value on the open market. You can find out approximately what your vehicle is worth by looking up its Edmunds.com True Market Value in the Used Vehicle Pricing section of this site. You also may want to stop by the following discussion: "Real-World Trade-In Values". One of our most knowledgeable community members, Terry, frequents that discussion and he is often kind enough to give community members who give him an accurate description of their vehicles with his opinion on their value. Don't forget to check to see if you are still on the hook for your remaining lease payments. The difference between your leased vehicle's current value and how much it will cost you to buy it plus any remaining lease payments that you are obligated to pay will equal the cost of getting out of your lease right now. You may find that you are better off waiting until you are closer to the scheduled end of your lease to get another new vehicle.
Car_man
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Car_man
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Looks like you got a pretty good deal on your E350 Lease. Could you tell me which dealership you leased the car from? BTW, the residual of $34,809 that you listed came out to be about 69% of the selling price of $49796.77. Is this right? I thought the 39 month residual for the 06 E350 is about 59 to 61% right now. Am I wrong?
Does anyone know what the current money factor is if leased through MBZ? I think there is a $2000 dealer kickback right now. Is this correct?
I'll be curious to see what others are getting for their leases in the Los Angeles area. Thanks ahead of time for sharing your info.
Open observation for all: are you also assuming the fire-sale on the E-Class is due to the impending 07 upgrades now being showcased at the NY Auto Show??
My questions:
1)Can you advise for both the E350 and E500 sedans, the most favorable lease terms? (months/miles)
2)Can you provide MB's residuals and money factors to go along with those terms?
3)I have done BMW's Euro Delv and 2 of the most critical and beneficial components are the usage of the US based residual and MF as well as basing the residual on the US MSRP. Can you tell me if this is the same with MB?
I would go to the Euro Delv section but it appears to have few experts monitoring it do to low activity.
Thank-you Carman and anyone else who contributes.
I understand there is $2000 trunk money on the E350 this month. Is this also true for the E320 CDI Sedan ?
Also, could you please provide the lease rates for Mercedes E350 and E320 CDI sedans for April 2006 ?
Thanks !
Can you tell me the following:
1. The current money factor and residual value percentage for a 36 month E350 lease (or 39 month if Mercedes is still offering 39 months at the 36 month rates).
2. On the edmunds.com basic lease calculator, if you include an acquisition fee, it adds that to the amount being financed, so if you pay the payment it shows, you should not pay the acquisition fee up front - correct?
3. The edmunds.com basic lease calculator uses a default rate of 15,000 miles driven per year. If you alter this in the calculator, how does the calculator determine the change in the payment amount?
4. Finally; I've seen an advertised lease deal from Mercedes, which gives all of the parameters used by the edmunds.com basic lease calculator except money factor. Since the ad gives the monthly payment amount, I can figure out what money factor they must be using to get to the advertised payment. My question is, if I want to buy a car with different options than advertised, should I expect to be able to lease it with the same money factor and the same residual value percentage as Mercedes used in its advertised lease, just applied against the selling price of the car I want; or, is there some reason they would not agree to this (like, for example, they have a lot of cars in the advertised configuration and would have to special order mine).
Thanks for your great help in this forum, it has been extremely useful to me!
Could you please give me advise ?
I'm a new person to the lease process and don't know all those tricks, but this is the deal I have for 2006 E350 4MATIC.
Color : white
Premium package with panoramic sunroof
27 months lease, 10,000 miles a year
payment - 657.00 a months including NY tax.
Due at signing - first payment, bank fee and MV fee - total about $1,700.00
Thank you for advise.
I would really appreciate it if you could review post #115 above and reply as soon as possible. I need to go get a car by the end of May as my lease on my current car is up the first week of June. I do not want to go and negotiate without this data since the dealers in the area I live in are known to often increase the money factors to pad the deal. I have only avoided this in the past by knowing the money factor up front and refusing to accept the money factor they were offering. Thanks so much. You have always helped in all my past lease negotiations and saved me a bundle.
I'm in the process to lease E350 4MATIC and spoke with my dealer yesterday and he told me, that they have some kind of incentive on 27 months lease and no on 36 months. This is strange, but to lease a car for 27 months cost at least $30 less than for 36.
white, premium with Panorama sunroof
MSRP - 56,825
Selling price - $52,075
total due at signing $1,845 ( first payment, bank fee, mv fee)
$656.26 monthly payment including NY state tax.
27 months, 10,000 miles a year.
How is that ? Could I do any better ?
This is what I got.
Premimum w/ Siruis, Flynt Gray
MSRP: $54,965
Purchase price : $46,999
Back Fee $795
Drive off $6000 (including about $4000 cap reduction)
436/month including Tax for 27 month, 15K/Y
And $250 gas card, a key chain and a teddy bear for my daughter.
I think I did OK. I was deciding between 525 and E350. Both are fine cars. But, with the current steep discounts available on E350, it was an easy decision.
This is my third Mercedes. Hopefully I will not have any major quality issues in the next 27 months.
The money factor was 0.0024, which, I think, is the posted Mercedes money facor for E-Class for the month of May.
The total drive off was $6000 which included the following
1. $795- acquisitiong fee
2. $436 - first payment including the sales tax
3. $395 - sales tax (on the downpayment and the acquisition fee)
4. $368 - registration
5. $8.75 - California Tire Fee
6. $3997 - cap cost reduction
Total $6,000
Thanks to all you guys who posted, I was able to get may car at $8000 off MSRP. This may not be the best price out there, but those of you who are shopping in So Cal, you are now armed with more information when shopping for E350.
Based on what you said, it looks like your purchase option was at 70% (38,476). Is that right? If it is, then I think I can finally confirm that I know how to do these calculations.
At 0.0024 money factor, that's an interest rate of 5.76%, which is a bit high for 27 months, but probably is "on market" for what Mercedes quotes. I have seen several dealers offering 2.9% though, and some posters indicating the same. Based on that your payment would drop to $328 rather than $436, but it's probably illusory, because if you pushed that hard on the money factor you probably wouldn't have been able to do so well on the purchase price. All in all, I'd say not bad!
This deal looks good, the only thing I, personally, don't like is $4000 cap cost. I preffer as less as possible to put upfront ( in case the car is stolen you lose these money ). Other then this - just enjoy the car.
Any info would help.
1. What are the current residual and money factor for a Mercedes E350 for a 36 (or 39) month lease, 12K miles?
2. Are you aware of people doing better than the published Mercedes money factors? It seems like that happened to several posters above but I'm not sure that those are right.
Thanks car_man!
Good luck.
I leased mine for 27 months E350 4MATIC premiuim with panoroof $656 a month no down, but bank fee ($795).
Car_man
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Car_man
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So, please explaine to me, because I still don;t understand the way you telling about lease process. Before I got my car I saw program on MB website
about $2900 gap cost
Aq. fee $800
Total $4,200 due at singing and payment about $580 a month plus tax.
I gor mine without any GAp Cost for 650 including tax.
total due at signing was $1,800 including 1st payment and MV fees. How do they do this and could I get even better deal ?
Thanks.
Thanks!
Also see if the local dealer will work out any tax credit for you. The Texas dealers sometimes have trade in credits from MB that allows them to offset the sales tax for a 1% fee. Since TX charges tax on the full purchase price, the tax credit can save you $3K or more.
Thanks
As far as residual, it should be up around 59% for a 39 month lease at 12000 miles, or 57% for 7500 miles. If you dropped to a 27 month lease, the 7500 mile residual should be 72%.
I have just begun my research on buying a car and found your posts quite helpful. Two questions:
1. Where can you find the manufacturer's (in this case let's say MB, but also will want it for a few other car manufacturers) current specials (rebates, etc) and MF offerings for the month so I am prepared when I go in? Is there a posting somewhere that makes it easy to pull it off? Is it done monthly, so that if I walk into the dealer that month I know they have that MF and dealer discounts available to them to play ball with such that the only real decision on their part is how desperate they are to move the car which translates, for me, into how close I can get him/her to go to the invoice price (taking into account that with a dealer rebate this gives them more cushion)?
2. Any suggestions on cars if this is what I am looking for:
My wife and I have a big sedan, so looking for more of a sporty car (need a small back seat), possibly a convertible. With little to no money down I would like to stay under $700/month (it would be great to be in the 6s, but we'll see). Just don't know if I want to get the BMW (so common), and I do like the CLK (also the E-Class). However, I am not set on a convertible and if I can get a lot more of my buck on a hard top deal I would do it.
3. Lastly, and really continuing on #2 above, what about A) buying a pre-owned (used), certified car from the dealership as long as the body has not changed? Does this make sense (rather lease and not finance) so I can get more bang for my buck?
Thanks a lot.
06 E350
Premium Pkg w/ Metallic Paint
MSRP: 54425
Purchase Price: $46850
39months/12K
Residual: 59%
Money Factor: 0.00230
Total Drive off Cost: $2400(Bank fee, 1st month payment, DMV fees, $650 Cap cost reduction)
Monthly: $587 (includes 7.75% tax)
What do you guys think of this deal? Did I do pretty good?
thanks
Have you heard that MB is trying to move these E350s? Did you hear anything on the CLK, hard-tops also?
please post name of dealership. offers in my area of socal are NOTHING like those you were able to get! And I'm ready to go forward with leasing on an immediate basis.
C. Lau.
Thanks