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Mercedes-Benz E-Class Lease Questions
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BTW...if you find, using this method, that we are wrong here...please post back.
Looking at leasing a E350 Coupe (this would be a corporate lease) very soon. Options will vary based on what the monthly price would be, since this is being paid for by my company. I'd like to come to them with an offer under $700 a month but be decently equipped.
Can do 2 years, 3 years, doesn't matter but I will definitely need 20,000 miles a year. I'm based in NJ - can anyone help me get started on figuring out where I need to be to meet my needs, if it's even possible?
Thanks!
I think this is the answer: buy rate is .00192. Auto pay drops it by .0001 to .00182. Is this accurate?
Your company could do a one time lease..pay everything up front which would drop the monthly cost quite a bit,albeit with a risk should the car be stolen or totalled during the lease (you lose the benefit of gap insurance). They could also provide the cash for multiple security deposits which they would get back at the end of the lease.
I am not sure if Mercedes will actually write a 20k/year lease...you might have to get a 15k or 18k lease and pay for any miles over that. Also watch that the lease doesn't have a maximum total number of miles allowed....where if you exceed that, you have to buy the car. (I've seen that in some leases).
I don't allow anyone to take money directly out of my bank account without my specific permission and the only way I do that is thru PayPal.
There is a common sense rule of thumb....if "they" have the money already, you will have a much harder time getting it refunded then if "you" have the money and "they" are asking for some payment you don't believe is owed.
I'll look into the BlueTec, but the coupe suits my needs better (although I pay for gas myself, so Diesel is attractive).
Under $700 though?
Since I was originally told .00192, the dealer basically adjusted the selling price to compensate for the rate. I do believe that there is confusion amongst dealers about the MSD, probably because they do not use it very often. There may even be confusion and inconsistency at MBFS.
Hope that helps.
This is e350 4matic lux pkg quartz blue w/ p1 & wood steering wheel. Msrp is $58085. Thanks for any advice.
Lease numbers are:
24 Mo
7500 miles per year
$548.10/mo(inc NJ tax)
$8804.52 total due at delivery-inc $6500 refundable deposit.
I got a great deal thanks for everyone here.
Thanks
Thanks to all for making this an active forum, providing insights and guidance as its great to be an educated consumer. btw, I'm picking up my wife's bluetech tomorrow.
Cheers!
I'm interested in bluetec 24 and 36 mos. 10 k miles.
Thanks everyone!
Apparently, the maintenance cannot be residualized on BLUTEC or on AMG.
Also, in keeping with posts of several others, my dealer would not combine msd with buy rate.
Happy car hunting all!
M
I believe .00192 is the rate and MSD's apply to that rate. If the autopay discount applies, then MSD's apply.
My solution, for what it's worth, was simply to pass on the maintenance package. It is the 24 month lease, and I drive very very few miles. Certainly didn't feel like the full retail add would be worth it for me. So...if they were trying to pocket the whole maintenance fee, they didn't.
Arctic white, P1, Split folding seats, Spoiler kit, parktronic, sport pkg, and tinted windows
Lease: 24/12
MSRP: $57785
Final sales price: $50740 (includes $4000 Conquest)
Cap Cost: $51585 (includes marked up acquisition fee $1095)
RV = 76%
MF = 0.00112 (includes MSD & autopay)
Downpayment: $250 (split cost of tint with dealer)
Upfront: Down + DMV + 1st month = $1200
Monthly payment = $460 (includes 7.75% tax)
MSD = $4800
What state is that?
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Car_man
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As far as this car's lease program goes, Mercedes-Benz Financial's October buy rate lease money factor and residual value for a 24-month lease of a 2011 E350 Bluetec with 10,000 miles per year are .00192 and 77%, respectively for consumers who qualify for its top credit tiers.
The numbers for an otherwise identical 36-month lease are .00192 and 60%.
Car_man
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Thanks for all your help! Do you happen to have the October lease rate and residual for a 2011 E350 Bluetec for 7,500 miles/yr?
Also, what is a realistic discount for a car with a MSRP of $59,000? I qualify for the $4,000 conquest cash. I'm hoping to get close to 10k off MSRP but I'd like to get your feedback.
Thanks again!!!!!
I have gone through the forum but find myself confused with the different ways to try to get the best deal from MB. I know this national deal is likely not the best. I have seen threads about multiple down payments, Conquest cash and other items.
I am coming out of a Cadillac CTS lease (2 months left).
If someone could either point me to thread where all of this is summed up in a post or two, or else set forth in a sort of summary fashion the info I need to know to get the best deal on the 2012 350 Coupe , I would appreciate it.
Thank you for any help or information.
1) Establish the cash selling price of the car....what is your discount off MSRP.
2) Establish how long you want to lease the car
3) Explain that you want to pay no capital cost reduction....you will pay the first month's payment plus registration fees and required taxes...nothing else when you pick up the car.
4) Establish the "acquisition fee" which should be $795, but some dealers decide that they deserve more so they try to charge more. $795 is the Mercedes cost.
5) Establish the money factor that they are using for your lease...that's .00192 or something like that...not 4.8%.
Before they calculate anything, get them to write all of the above down on a piece of paper.
6) Since you are leasing, you have to have your service done by Mercedes, so buy your service as part of the lease...buy Mercedes service, not some special service offered by your dealer...and make sure they include it like any other option on the car. You will save significantly doing it this way.
7) At this point they have enough to give you your monthly charge.
8) Now, if you can afford to loan Mercedes 10 monthly payments for the life of the lease, you can reduce your money factor/interest and make about 10%/year on that money by making what's called multiple security deposits. The key here is that you get the money back at the end of the lease vs a capital cost reduction which you don't get back.....and it lowers the interest you pay. It's a great deal. As them to recalculate the lease using 10 Multiple security deposits (which should reduce your money factor by .0007 which doesn't sound like much, but it may be $50 or more a month.
9) Post all of the above here (including the MSRP of the car) and wait for someone to comment...just in case you missed something.
When you first walk in, you may hear: the published deal is a terrific deal...don't bother with all that other stuff. Don't do it....take the time to do it right. Finally, when it comes to MSD's, some/many dealers aren't aware of that option....(which in fairness is not allowed in every state (e.g. NY)), but if they don't know about MSD's, ask them to read their program information or call Mercedes.
Note: they may have a promotional interest rate that they are using in the "special offer"...if so, you probably won't be able to use MSD's if you want that rate.. which may or may not be less than the standard rate less the MSD discount. Obviously, you want the lower rate, whichever it is.
We'll try to help you save some money....
2011 E350 w Palladium, Premium P1, sport, parktronic and split folding seats - MSRP $56.4
Paid $46.7
30 mos - 10K/yr
Drive off $1031 including license and first months payment of $535
Is .00192 a special rate or is that the rate for e's in Sept/Oct? I leased in August so we used .0024 as the rate and then took the MSD adjustment off that.
I gave 10 MSD's to reduce the rate and the dealer insisted that each Security Deposit was the monthly payment calculated after taking the MSD discount including local sales tax...unrounded. I even asked if they had to round it to the nearest $50 and if they were using the right calculation for security deposits....they said they were doing it correctly.
I think what you are saying is correct....I know that my dealer talked to someone at Mercedes Finance to make sure they were doing it right. before they did the paperwork. The blind leading the blind....
Thanks again.
MSRP: $57,235
Selling price: $47,886 (including $4,000 conquest cash)
24 months/ 7,500 miles/yr
10 MSD's ($4,500) to reduce money factor by 0.0007
Autopay to reduce money facto by 0.0001
Qualified as A1 tier therefore base money factor was 0.00195 (you can not use the MSD's in conjunction with the special lease rate of 0.00192. Some folks here reported success stories but if your dealership talks to MB FS they'll tell them no)
Final money factor: 0.00115
Residual value: 78% (if you want 10,000 miles per year, residual goes down to 77%)
Drive off was around $600 (first month + tags + processing fee) + $4,500 for the MSD's which is fully refundable at the end of your lease
I rolled VA sales taxes (3%) and acquisition fee into the lease ($1,440 + $795)
Final monthly payment: $337.50
For a $57k car this is a steal! A couple of things to consider:
A) You have to have $4,500 to get the money factor down.
You gotta find an E350 Bluetec in stock
C) Include the MB maintenance plan in the lease, that way you pay only a portion of it since you are leasing the car. This is a no brainer! ($1,129 for 2 years)
D) Keep in mind that MB switched the COMAND from 4.0 to 4.5 and the dashboard to the new 2012 model around june/july 2011. The easiest way to tell is to check the memory card slot under the radio controls. If the car has the bigger one, then it is the old version.
E) Remember that MB allows you to change your lease mileage allowance during the first 12 months. If you are at month 11 and you see that 7,500 miles are not going to be enough, you can call them and they'll restructure your lease. Of course you'll have to pay for the difference (1% less residual if you go from 7,500 to 10,000) but it is a great feature and not a lot of people know about it. Plus, it is better that paying $0.25 per mile if you go over. Also, if you plan on leasing another MB at the end of the current lease, call your dealer 4 months before your lease is up and they'll waive some/most/all of the fees providing you get a new lease (excess mileage, tires, disposition fee, etc).
F) Don't overthink this. It is an awesome deal!
I've got mine from Euro Motor Cars in Bethesda, MD. Call John Johnston and tell him Angel sent you. He is great and won't play any games with you. It took me a couple of hours and some emails to get the deal done. They still have 2 2011 E350 Bluetec's in stock. Their website shows 3, but I took one
Good luck everyone!
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As far as the selling price goes, this car probably has a spread of between $3,500 and $4,000 between its full MSRP and its dealer invoice price. Add the $4,000 conquest to that and you have a total of $7,500 to $8,000 to play with. I personally don't think that you're going to be able to swing $10,000 off. Probably something like $7,000 is more likely.
Car_man
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Thanks.
Thanks
Arctic white, P1, Split folding seats, Spoiler kit, parktronic, sport pkg, and tinted windows
Lease: 24/12
MSRP: $57785
Final sales price: $50740 (includes $4000 Conquest)
Cap Cost: $51585 (includes marked up acquisition fee $1095)
RV = 76%
MF = 0.00112 (includes MSD & autopay)
Downpayment: $250 (split cost of tint with dealer)
Upfront: Down + DMV + 1st month = $1200
Monthly payment = $460 (includes 7.75% tax)
MSD = $4800
What was the original money factor prior to putting down the $4,800 dollars (MSDs)? Do you get all the MSDs back at the end of the lease?
MSRP: $58,950
TERMS: 24 months/10k miles per year
I live in Texas, so we must pay sales tax on ENTIRE car. Luckily, I "qualified" for the Conquest $4,000 credit, which more than offset taxes. I didn't use MSDs, but thinking now maybe I should have.
I paid only $1,000 at closing for registration and acquisition fee.
Thereafter, 24 payments of $553 per month.
Is that a decent deal? I thought it was considering the dealership's first offer was $4,200 down (to cover taxes, registration, and acquisition fee) and $749 per month.
Thoughts?
Is the good 24 month lease deal that I am seeing on this board only on the 2011 E350 Bluetec? What are the money factor and residual % on a 2011 E350 4 Matic for 10k miles and 24 months?
http://www.mbusa.com/vcm/MB/DigitalAssets/pdfmb/serviceandparts/prepaid_maintena- nce_brochure.pdf
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Coupling your info with assumptions, based on prior posts, I made the following calcs below.
RV @ 77% = $45392
MF=0.00192
Acq Fee=$795
Sales price = $50450 ($8500 off list)
Cap Cost = $51245
Monthly depreciation = (Cap Cost - Residual)/24 = $244
Monthly interest charges = (Cap Cost + Residual) x MF = $186
Monthly taxes* = Sales price @ 8.25% / 24 = $173
Monthly lease payment = $603
If you had done MSD (MF=0.00112), I calculate a monthly lease payment of $526. All in all, it seems like you did well.
Cheers!
*I'm not sure if I calculated the taxes correctly, but you noted that you have to pay sales tax on the full purchase price.
get conquest cash yet this year?
I'm guessing that sort of tax treatment cuts down on short term leases in Texas...
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Normally, I won't lease a car unless the dealership gives me sales tax credits (car co. finance arms over-pay in sales tax, so every once in a while they will give "credits" to dealers), but this was such a freakish deal, and the Conquest credit more than offset the sales tax. But I will definitely use MSD's next time.- probably could have lowered my payment by $50-60 per month.
That's one thing not many people have posted on here - how to negotiate and know when dealers have the sales tax credits. Any thoughts? Experience? Advice? I just ask. Dealers are sometime open about it "We don't have any now, but maybe next month..."
I LOVE the car by the way - the diesel is so cool, and love the torque.
E350 4Matic with P01 pkg, Parktronic, metallic paint and fold down rear seats.. MSRP $58,900.
Quoted 33 month, 12K mi/yr lease, with scheduled maintenance plan included.. for $647/mo + tax, with around $1250 due at signing...
Actually, not too bad... But, not in our budget, either...
My wife did like the vehicle.. I hadn't been in a new Mercedes in a long, long time.. Bank vault solid and very quiet. You can see where the money goes...
They only had two 2011 models left at this dealership...
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The residual on the bluetec is much better than the car you drove/priced....