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Mercedes-Benz E-Class Lease Questions

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  • seattlecruiserseattlecruiser Member Posts: 45
    First of all a big thank you to Car_Man and the board, you guys literally saved me thousands! I definitely pushed the dealer to the limit with this deal, but I'm thrilled with the car and the deal I got.

    2011 E350 4matic, P1, AMG wheel package, split folding rear seats, sport package
    Took advantage of 10 security deposits (dealer had never done that before, took some calling around)
    33 month lease, 12k/year

    MSRP $58,695
    Negotiated price with Conquest: $48,695
    Drive off: $859 (First monthly payment, Title/License/Registration)
    Monthly payment: 463.59 plus tax
    Residual (64%): $37,564
  • dewarsandsodadewarsandsoda Member Posts: 207
    Congratulations, seattlecruiser! I have two questions for you.

    1. For each security deposit, I have heard that you receive 0.00007 reduction in MF. Is this what you received? So for 10 security deposits MF=0.00170 (~4% interest), correct?

    2. If you elect to pay multiple security deposits, is the money held with the leasing dealer or MB finance? The reason for my query is that we may move, so we would likely return the car to an MB dealer in a different state.

    Cheers!
  • seattlecruiserseattlecruiser Member Posts: 45
    Correct, you get a 0.00007 reduction per deposit. Combined with auto-pay it ended up being a money factor of 0.0015, or 3.6%. The security deposit is submitted to MB Financial with the other paperwork. I wrote two checks, one for the drive-off to the dealer, and a second one for the security deposit. Hope this helps.
  • seattlecruiserseattlecruiser Member Posts: 45
    I forgot about the lease origination fee that was rolled into the gross capitalized cost, so the money factor in the previous post is incorrect. It's actually 0.00112, or 2.7% with the 10 security deposits.
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    You're welcome seattlecruiser. I'm glad that we have been able to help you out. Congratulations on getting your sweet new ride :shades: !

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  • dewarsandsodadewarsandsoda Member Posts: 207
    Thanks for the guidance, seattlecruiser. I have one remaining question. What is the amount of each security deposit?

    Cheers!
  • dewarsandsodadewarsandsoda Member Posts: 207
    Hi CarMan,
    Can you please provide the MF's and RV's for the following leases on a 2011 E350 Bluetech?

    1. 24month/12k miles per year
    2. 33month/12k miles per year
    3. 33month/15k miles per year

    Cheers!
  • carkrazy786carkrazy786 Member Posts: 7
    Hey guys just wanted to fill you in on this lease i just got on a E350 4matic:

    2011 E350 4matic

    Package 2
    Panoramic Roof
    Parktronic
    Rear Spoiler
    Split Folding seat
    Heated front seats
    3years of maintenance
    Sport Package

    33months
    12k miles
    4,200 down (including taxes)

    Monthly payments. 509 Per month.

    Let me know what you guys think..

    Thanks,
  • msand68msand68 Member Posts: 1
    I currently have an E350 lease that ends next week. I also have an Acura TL. Would I still be
    eligible to receive the $4000 credit for the conquest program if I lease another E350 ?

    Thanks
  • ghstudioghstudio Member Posts: 972
    I believe that the Acura makes you eligible for the conquest rebate of $4K on an e350. I don't think you have to actually sell the acura to qualify.

    You would not be able to combine that with the mercedes loyalty rebate though.
  • ghstudioghstudio Member Posts: 972
    I won't comment on your deal being good or bad because there is no value after the fact.

    I will however observe that you paid $4200 down...and if any of that was used to reduce the captal cost of the car, thus reducing the montly lease payment, you should have used that money to make Multiple Security deposits instead of a down payment.

    Generally, if you are leasing, you should drive off paying only the first month's lease payment plus any title/registration fees and taxes required by law...and everything else should be rolled into the lease.
  • carkrazy786carkrazy786 Member Posts: 7
    It does qualify because i just traded in a TSX for an e350 and it worked for me
  • marzsh1marzsh1 Member Posts: 23
    Hi. Are you sure about the reduced mf? I calculated the mf based on 10 msd's and it should be 0.00122. Did you pay tax for the msd's?

    Thanks
  • ghstudioghstudio Member Posts: 972
    There is no tax on the MSD's.....however, each MSD is based on your monthly payment including tax.
  • seattlecruiserseattlecruiser Member Posts: 45
    Correct, see my correction to my initial post above.
  • 1985mb1985mb Member Posts: 60
    What was your cap cost (selling price) and what was MSRP?
  • kyfdxkyfdx Moderator Posts: 236,772
    This 24 month lease on the Bluetec has piqued my interest...

    Did you check into the residuals on the 33 month lease? Does your lease include maintenance?

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  • ghstudioghstudio Member Posts: 972
    edited September 2011
    I did not check 33mo...because I prefer 24 mo. I do know that the 36 mo would have actually cost me more per month. I just didn't know how I would like a diesel so I wasn't interested in a longer lease (I love the car by the way).

    My lease does not include maintenance, but at the time, I did not know that I could residualize the maintenance cost (unique to Mercedes). A few days after I had the car, my dealer and I discussed how to handle the fact that they didn't tell me that there was a maintenance package I could buy and residualize. As a result, I now have the 20K mercedes maintenance package which I paid for as if it were part of the lease...although I paid for it outside of and after I signed the lease. (complicated, but it worked out fairly).

    I also took the maximum 10 multiple security deposits and I was eligible for the $4000 conquest money. I paid first month lease plus actual registration transfer fee up front.
  • kyfdxkyfdx Moderator Posts: 236,772
    Thanks for the reply...

    Of course, out of 30 E-Class at my local dealers, not one diesel....

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  • seattlecruiserseattlecruiser Member Posts: 45
    Each security deposit is equal to one month's lease payment including tax.
  • whichluxurycarwhichluxurycar Member Posts: 54
    Is the conquest money only good on 2011 vehicles? I'm looking at 2012 bluetec e350. Thanks!
  • go2uclago2ucla Member Posts: 34
    Hi everyone,
    I just got into a 2011 E350 Bluetech, in So Cal. Here's my deal. Any thoughts are appreciated.

    2011 E350 Bluetech
    24 mos lease
    12,000 mls/yr
    Mrsp 57,165
    Selling price 50,000 (duscount incl 4,000 conquest cash)
    Cap cost 50,795 (incl acq fee of 795)
    Residual 76%
    MF .00155 (.00225 less .0007 for 10 MSD)
    Tax rate 7.75%
    Msd 5,500
    Down 950 (1st mo pymt, DMV, doc fees)
    Total 6,450
    Per mo $488 (453 plus 35 tax)

    Any better deals out there? Thx
  • ghstudioghstudio Member Posts: 972
    sounds like a great deal (better than mine last month). If you haven't, and if you still can I recommend that you buy the mercedes maintenance (from mercedes as a "feature") and include it in your monthly lease. You will only have to pay .24 of the total costl, so it is actually a real bargain since mercedes leases require you to do the recommended maintenances in full.
  • aawaaraaawaara Member Posts: 9
    I was at a dealer in NY over the weekend and they told me that NY Law does not permit MSD. Is this true? Has anyone leased a car in NY with MSD?

    Thanks for all your help
  • aawaaraaawaara Member Posts: 9
    Hi CarMan,

    Can you please provide the MF's and RV's for the following leases on a 2011 E350 4Matic?

    1. 33month/7.5k miles per year
    2. 33month/10k miles per year
    2. 33month/12k miles per year

    Thanks
  • ghstudioghstudio Member Posts: 972
    Ture, NY is one of the few states that don't allow multiple security deposits.
  • aawaaraaawaara Member Posts: 9
    Well this sucks :(

    Do you know, if I buy the car in NJ, will I be able to take advantage of it there?

    Thanks for all your help.
  • kyfdxkyfdx Moderator Posts: 236,772
    I've heard from NYS BMW lessees that have been able to do MSDs, by buying in NJ, but from other makes (not Mercedes) who said the bank wouldn't do it...

    I'm sure that a lot of dealers in NJ are familiar with this... I'd start making some phone calls.....

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  • aawaaraaawaara Member Posts: 9
    So far I found out

    33M/10K - RV: 65% MF: (got two different numbers) .00200 and .00192

    Both dealers told me that if I do autopay it drop .00010

    Would still like to find out the numbers on other 7.5k and 12K.

    Will update, if I find out more
  • whichluxurycarwhichluxurycar Member Posts: 54
    I'm looking for some advice.

    I have excellent credit. The dealerships tell me "we have to mark up our buy rate -- that is what WE pay -- we aren't taking advantage of you, but we have to make some profit somewhere in the deal."

    Is this correct? Or should I expect to get the buy rate MF?

    Thanks
  • ghstudioghstudio Member Posts: 972
    Run, don't walk, out of the showroom and find another dealer.
  • dewarsandsodadewarsandsoda Member Posts: 207
    Hi go2ucla,
    Which SoCal dealer did you use? I'm in SD, and the local dealers won't do MSD.

    Cheers!
  • ghstudioghstudio Member Posts: 972
    The local dealers won't do MSD????? If they are offering you the mercedes lease, they have no choice...it's part of the leasing options...it's not a "dealer option" to offer it.
  • marzsh1marzsh1 Member Posts: 23
    RV is 64% for 12K and 66% for 7.5K. MF is the same 0.00192.
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Here's the information that you're looking for, dewarsandsoda. Mercedes-Benz Finance's September buy rate lease money factor and residual value for a 24 month lease of a 2011 E350 Bluetec with 15,000 miles per year are .00192 and 74%, respectively for consumers who qualify for its top credit tier.

    The numbers for an otherwise identical 30 month lease are .00192 and 66%.

    If you were to lease with only 12,000 miles per year, this car's residual values would be 2% higher.

    If it is eligible for MB Finance's Value Added" program you would be able to use the 30 month numbers for a 33 month lease.

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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi whichluxurycar. I believe that the conquest cash is higher on 2011 models, but there still is some on 2012s. I think that there's $1,000 conquest cash on the '12 E.

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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Greetings aawaara. Mercedes-Benz Financial's September buy rate lease money factor and residual value for a 30 month lease of a 2011 E350 4Matic Sedan with 12,000 miles per year are .00192 and 64%, respectively for consumers who qualify for its top credit tier.

    The residual value for a lease with 10,000 miles per year would be 1% higher. 7,500 miles per year would be 3% higher.

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  • dewarsandsodadewarsandsoda Member Posts: 207
    That's what I said to the GM's at two dealerships here in SD, yet they stared at me incredulously...and, I don't think it was because of my good looks.
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    This sort of thing is usually based upon one's residency, not where the dealership is located. While I am not 100% positive, I don't believe that a New York resident would be able to do MSD by just leasing a vehicle from a dealer in NJ. Again, I'm not positive though so it wouldn't hurt to ask.

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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hey whichluxurycar. Dealerships don't have to mark up rates, they choose to in order to make more money on deals. There are plenty of dealers out there that lease vehicles without marking up rates. It wouldn't hurt to shop around to see if you can find a dealer in your area that will give you an attractive selling price and the base money factor.

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  • ghstudioghstudio Member Posts: 972
    edited September 2011
    Dewars....

    sit down with them and ask them to call Mercedes Finance who will explain MSD's to them. My MB dealer (salesman, marketing manager, gm) had no idea what I was talking about...but the marketing manager called MB Finance and they gave him the information on how MSD's worked and how to calculate the lease. I was the first customer to ask about or use MSD's in the five years since these folks (a very large national dealer chain) bought the dealership. I have used MSD's on my last four leases on BMW's and infiniti's and in each case, I went thru the same thing...dealer had no idea what I was talking about, called and found out. It's a great financial deal for you, the buyer, if you can afford to be without the MSD cash for the term of the lease, and of course you get it back unlike a downpayment.
  • aawaaraaawaara Member Posts: 9
    Thanks for the response Car_Man.

    Today I got following deal on E350 4Matic

    Sticker Price: $51,900.00
    Options: $4,440.00 (P1, Sports, Split folding seats)
    Dest Charges: $875.00
    Total MSRP: $57,215.00
    Residual percentage: 66%
    Negotiated Cost: $48,500.00
    33 Months w/ 7.5K miles
    Money factor: 0.00182 w/ auto pay --- (0.00192 w/o auto pay)
    Lease payment $482.39
    NY Tax - 8.625% $41.61
    Total Lease payment $524.00

    I am planning to give them a deposit tomorrow and pickup the car on Fri. Please let me know, what you think about the deal. Should I ask for 67% RV as it will drop my monthly cost to $466.10 ($506.30 with taxes).

    Thanks again everyone for all your help...
  • dadcar72dadcar72 Member Posts: 5
    Hey all, You helped me buy a 2011 E350 recently and I'm eternally grateful. Can you help me figure out this lease? Looking at the following car

    E350C $49,800
    890 Lunar Blue $720
    205 Almond/Mocha Leather
    Sport package, P1, Spoiler

    SUBTOTAL $56,410
    DESTINATION & DELIVERY $875
    TOTAL $57,285

    His offer:

    2012 E350 coupe
    36mo
    15k miles
    $2500 drive off
    725/mo. (this already includes discounts and autopay)

    I qualify for these discounts (if they apply): competitor conquest, loyalty discount, current MBFS loan holder.

    Is this too much? I was hoping to be under 700 but he isn't budging. Need some suggestions from you all.

    Details of the car below

    Thanks for your input!
  • jwilliams2jwilliams2 Member Posts: 910
    edited September 2011
    Should I ask for 67% RV as it will drop my monthly cost to $466.10

    Residuals are set by Mercedes-Benz Credit, not the dealer, and can't be changed.
  • ghstudioghstudio Member Posts: 972
    edited September 2011
    aawara...you might try to get them to throw in some maintenance as a "sweetner".

    dadcar....I did a quick calculation, not knowing the residual for 36 mos/15K miles per year, but I assumed 61% and a MF of .00194. I also assumed that you could buy that car for $50K including the dealer administration fee. I assumed a $795 lease acquisition fee. I did not assume autopay. If my assumptions are close, your monthly payment should be around $605 plus tax. That assumes you pay only the first months lease payment plus any registration fees up front ...far less than $2500.

    Using the same assumptions, with 10 MSD's, your monthly payment would drop to $546/mo....you would "loan" mercedes $6050 for the length of the lease and then you would get that money back. You would save roughly $2124 over the three years by doing this. Can you earn $2124 on $6050 over three years some other way???? If that money sat in a CD, it would earn less than $400 over the same time period. If you can afford it, think about using MSDs.
  • jk16jk16 Member Posts: 3
    I'm about to buy e350 class blue tec and I simply want to know if on the east coast are they for sale yet? They are pushing me on 2011 model, no blue tec left plus they did not make them in a 4 matic until 2012 and their saying in NY you wouldn't want to buy without the 4 matic.
  • aawaaraaawaara Member Posts: 9
    aawara...you might try to get them to throw in some maintenance as a "sweetner".

    ghstudio thanks for the advise... I spoke with the dealer and told him that I wanted All Season Mats and 3 years service included in the price...

    First he was like, I don;t know, I am not making any money on the deal, I am losing money on the deal.... then he told me he will get back to me after speaking with his manager. 30 min later, he called and told me we had a deal. I gave him a deposit and will sign all the paper work and pickup the car tomorrow.

    Thanks to this forum and everyone, I was able to save lots of money because I was well informed. Thanks again for all your help everyone.
  • aawaaraaawaara Member Posts: 9
    The dealer was trying to push the BlueTec. He said, we would have to order (even without seeing it) and had to give him multiple color choices, so which ever he would be able to locate, we will have to buy that one. He also did not have one to test drive, so I did not want to buy something without test driving it. It was a 2011 E350 BlueTec fully loaded. He came down to $460 a month on 24 month lease. I am not sure about the 2012.
  • jk16jk16 Member Posts: 3
    Are 2012 e350 sedan blue tec available now?
  • dewarsandsodadewarsandsoda Member Posts: 207
    Thanks for the guidance, ghstudio, as I totally agree that by utilizing MSD, one drops the interest rate by almost 2pts. Related to MSD, several dealers are telling me that MB Financial will not do MSD on the buy rate MF (0.00192). One can only do it on their marked up rate (ranges from 0.00210-0.00235). Is this accurate?
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