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Mercedes-Benz E-Class Lease Questions
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Are you eligible for conquest or are you currently leasing a mercedes?
If you get all that, we'll be able to help....but there is no reason to even think about the deal proposed.
Just leased 2011 E 350 sports 4 matic in the Chicago area, what do you think about the deal
totsl MRSP 52,500, 15K miles, 33 months lease, no down payment, maintenance and taxes included in the monthly payment. 599/month.
Thanks
1. Q - Why with 10 MSD's does the mf only drop to .00195?
A - Since we started with .00200, each MSD lowers the buy rate for the money factor by only .00007 to reach .00195;
2. Q - could you clarify what the residual is you are using for the 0ffers - A - 70% for the 24 month lease and 60% for the 36 month lease
3. Q - what are the loan origination fees? A - Our lease acquisition fee through Mercedes Benz Financial is $1095 and their disposition fee should you elect to not lease or finance another vehicle at the end of your lease is $595
4. Q - Does the total selling price of $53,960 include the Conquest promotion and if so, how much is that? Yes it does and it is $2,000 since you are in a Cadillac presently.
Any additional thoughts, ghstudio or anyone else are appreciated. Since I suck at negotiating car deals, any ideas for the next step would also be appreciated.
Thanks.
2) sounds right
3) mercedes actually charges $795 and dealers mark it up (pure profit) to $1095. This is negotiable.
4) So they aren't giving you much of a discount on the car, are they. They don't pay the conquest...they get that back from mercedes.....so negotiate the selling price and then add the $2000 additional discount. Don't let them try to tell you that the total is a great discount.
a) why $2000 up front...you should pay the first months lease payment plus the title/registration fee only (plus leave a check for the MSD's). what's the rest of the money for???
b) My calculator says that the monthly payment on the 24 mo lease with the MSD's should be about $840 including tax (that assumes that you don't pay that $2000 up front...you pay the first payment plus license fees). Not sure why their number is higher.
You should be able to negotiate a better cash price for the car....and you should be able to get the $1095 reduced to $795 (although that will be harder). Finally we need to find out the tier 1 mf this month for your car...and hopefully someone here will tell us.
Somebody is having trouble with how to multiply numbers less than 1.. or, they are taking a big markup before applying the MSDs..
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You are, of course, correct (and my leasing program calculated it correctly).
It's possible they are starting at .00265......
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Do you know the residual and money factor on 24 and 33 months for the 2011 E350 with 10k miles.
Thanks.
Thank you for your email. The promotional money factor that we have from MB Financial is .00200. However, if you elect to purchase MSD's they do not allow us to use the promotional rate. They require that we start at their standard money factor (which my finance department told me was .00265) and then subtract the MSD discounted basis points. In this particular case since the .00070 reduction resulted in you saving only .00005 (.00195) from the promotional rate it was not appealing. The multiple security deposit leases are generally more appealing when we do not already have a special rate available, which in this case we do.
Regarding the conquest incentive...we do have $2000 back from MB but we were discounting the car $3,525 before the cost of shipping the car in for you (usually $450) so we are at just about $4,000 off of MSRP or $2,000 from us and $2,000 from MB.
I checked with my Finance Director and she will go ahead and write the loan using the $795 acquisition fee rather than the $1,095.
I wanted to answer as many of your questions as possible prior to working up the figures again.
I will go ahead and recalculate the numbers and get them over to you.
Here are the numbers he ran:
Vehicle: 2012 MERCEDES BENZ E CLASS E350C 2dr Cpe E350
Stock #:
VIN:
Miles: 0
PURCHASE OPTION
Vehicle Price: $54,275.00
Preferred Customer Discount: - $3,525.00
Total Selling Price: $50,750.00
Sales Tax (estimate): + $3,118.31
Tag/Registration Fees (estimate): + $348.75
Tire/Battery/MVWEA: + $8.50
Dealer Service Fee: + $699.95
Balance Due (estimate): $54,925.51
No Trade-In
LEASE OPTIONS
With $2,000 Cash down 24 months = $804; 30 month = $784; 36 months = $736;
Sounds fishy to me but any thoughts appreciated. Thanks.
Wow....
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No idea on the pricing...
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Then establish the money factor. Ask them for the money factor for tier 1 credit buyers. The .0007 comes off that number. I don't know the official mercedes numbers this month...hopefully someone will post them here.
If you want mercedes maintenance on the car, ask the dealer to include it in the capitalized cost...some dealers seem to allow it to be residualized and others don't...and mercedes doesn't seem to care. Try to get it residualized. Do not buy third party "preferred maintenance" packages....if you buy one buy mercedes and if there are multiple tiers, buy the lowest tier of required services...you are leasing. Some dealers go so far as to not even tell you that there is a Mercedes package available because they want to sell you their own maintenance package...if they don't mention it, ask them point blank for the mercedes service package.
Tell the dealer you will only pay the first months payment, any license and registration fees and required taxes when you pick up the car....everything else should be part of the lease. (and that first payment will be less than $2000).
Negotiate with the dealer to pay mercedes "acquistion fee" of $795...not the marked up $1095 that dealers like to charge to make another $300 on the deal.
If the dealer balks at any of the above, don't be afraid to use the oldest negotiating technique in the book....head for the door and tell them to think about it and give you a call if they want to sell you a car.....and then actually leave.
Now have the dealer run the numbers for 24, 33 and 36 months....
For each case, add up the total out of pocket costs for the life of the lease (not the multiple security deposits) and include the $595 that mercedes charges at the end of the lease. Divide by the number of months of the lease and you'll get the true monthly cost of leasing the car under each length of time.
Good luck
Here's what I am getting - list prices starting at an MSRP of $56,545
E350C $49,800
792 Palladium Silver $720
201 Black Leather
STANDARD ACCESSORIES *****
OPTIONAL ACCESSORIES *****
P01 P01 Premium 1 Package: COMAND System wit $4,000
104 Rear Spoiler $300
731 Burl Walnut Wood Trim
993 993 Lane Tracking Package: Blind Spot A $850
SUBTOTAL $55,670
DESTINATION & DELIVERY $875
TOTAL $56,545
Here's what I am getting - lease price of $495/month + tax, 12K miles per year, 48 month lease, 53% residual. $4000 down (includes $2000 Conquest cash).
Money factor of .00185 (Started at .00165 and wanted the MSD's but they said the max they could go was to .0015 with the MSD's, but they said they would discount the price further and keep the higher MF).
Vehicle Price: $56,545.00
Preferred Customer Discount: - $8,435.00
Total Selling Price: $48,110.00
Thanks.
MSRP: $56,245 (base + paint cost + P1 package + Spoiler + lane assist)
Total out of pocket cash - $4000 (which included about $1700 in Cap Reduction)
Term: 48 months
Residual: 53%
I had Conquest Cash of $2000
Payment: $496 + tax = $532 per month
The numbers for an otherwise identical 36-month lease are .00186 and 56%.
Yes the low mileage adders that you mentioned are still valid.
Car_man
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The numbers for an otherwise identical 36 month lease are .00184 and 58%.
If you were to lease with only 10,000 miles per year, this car's residual values would be 1% higher.
Car_man
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Car_man
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I'm not sure what you mean that you get a $2,000 discount from the company that you work at. Is your company a supplier to Mercedes? The conquest cash might not be compatible with a supplier discount.
Car_man
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Can you please post the numbers for the Audi A6? I know this is the wrong forum, but the audi forum seems to be dead with no replies.
thanks
Thanks.
Questions as follows:
1) Is he quoting me one thing and making me pay for something that's significantly higher?
2) Is 2400 a commonly used conversion multiplier? If so, how does 0.00235 translate to 4%?
3) Are MF's set by Mercedes or by the dealer? Any room for negotiation here?
As an FYI, i got $3900 off MSRP for this car, not the best i'm sure but seems common in comparison to what others have posted.
Thank you for your help.
Your salesperson obviously did not do well in math or he graduated from an online correspondence school. The interest rate = MF x 2400. Ask him how 2400x0.00235 = 4%...maybe he has a special abacus.
Additionally, my understanding is that MB Financial sets a buy rate MF for its various models. Each dealer has the ability to 'mark up' the MF as that's another source of profit. I would recommend finding out the buy rate or base rate MF from CarMan or other sources and presenting it to your dealer as you can definitely negotiate. And, if they aren't willing to accommodate, take your business to another dealer. I had a similar issue with local dealers in San Diego, but I found several OC dealers who were willing to accommodate the reduced MF.
Cheers!
Regardless what the interest rate is and whether or not he can do simple math, if 0.00235 is the best available on a 2012 E550c, then I know the discount is genuine, otherwise there's really no true discount.
Thanks again
While I don't know the RV's for the various lease terms, I've been told that the base rate MF for a 2012 E350 coupe is 0.00162 while the MF for a 2012 E350 Conv is 0.00167. I hope this helps.
Cheers!
Cheers!
MSRP: 56,245 + 4 years maintenance (1889)
Gross Capitalized cost: 47996 + 1889 = 49,885
Cap reduction: 1699
Residual value: 30318 (48 month lease)
Monthly payment 511 + tax(44) = 556 (this includes residualization of the 4 years of maintenance)
At the time of delivery, I gave them a check for $4000 that included 1699 cap reduction + 556 first month + 1095 acquisition fee + 152 (tax) + 100 Reg fees + 313 (license) + 45 (doc) + 29 (DMV) + 8 = 4000
This includes $2000 Conquest cash
I bought the car on 10/23 from House of Imports in Buena Park CA.
It is a 2012 E350 Coupe - Palladium with P1 package + spoiler + lane assist + 4 years maintenance.
That's pretty much all the numbers I have from my contract.
The strategy, if you can call it that was when I went to this dealership, I took in my spreadsheet, didn't even insist on seeing the car - I knew what I wanted and had test driven it at another dealership. In essence, this dealer had to do no work at all, except accept or deny the deal.
I had to say "no" first because they wouldn't give me the $1500 loyalty cash even though I had a Mercedes. They said they couldn't do it because I had paid off my lease and didn't have an open Merc financial account.
I ended up getting an old Lexus from my friend and getting $2000 conquest cash in the deal.
Hope this helps and you can swing this deal or better. Good luck.
If anybody knows when MB typically has promos/rebates/incentives, that info would be appreciated. I just signed up for USAA (although I'm not a vet - don't know if I'll get that incentive), but from what I've read you can't use them in conjunction with the MB incentives.
Any help would be appreciated.
Just walking in the door, you should get about 4-5% off the MSRP. You are right...first months payment plus registration fees when you pick up the car, everything else gets rolled in. Use Multiple Security Deposits....I've written lots about them in this forum (and some others)...it's the best deal in town. If your salesman doesn't know about MSD's,find someone that does in the dealership because when they don't know about how they work, they will dis them...not worth it, etc. Of course you have to be able to loan Mercedes $6000 or so for the length of the lease, but you get that back.
USAA...good luck...you can join and still not be eligible. I think you have to have insurance with them and that requires you to qualify.
If you are driving (or own) a higher end car now....infiniti,bmw, audi,.... ask about "conquest" money...should be $2000 on a 2012....and that's in addition to that 4-5%.
Consider adding mercedes maintenance plan to your lease. this one is tricky...first it must be mercedes plan,not some "better" plan offered by your dealer. Next, it has to be "residualizable" which means it's like any other feature on the car so you really only pay 25-30% of the cost. The confuser here is that some dealers will let you residual this and others won't. Further confusion is that Mercedes actually doesn't seem to care????? Very strange. Try to get it residualized. If they won't do it, then don't put it in the lease.
Mercedes acquisition fee is $795...some dealers mark that up to $1095. If your dealer wants $1095, negotiate because the cost is $795 to them.
This should get you started.....
Good luck
Here's what he quoted me on a 2012 E350 Luxury with Premium 1 4matic in Black:
Selling Price - $52,775 (assuming I can get a $2,000 credit from USAA)
Acq Fee - $795
RV - 65%
Mileage - 12k/year
MF - .00176
Payment - $678.36/month with first payment and acq fee up front - tags extra.
Term - 30 months
Anybody who has an opinion on this, I would greatly appreciate it. I think this is a fair deal, but maybe I can get him down more. I saw in the book that the money factor rate was .00162 so I guess he's marking that up to make some money back on the interest.
Thanks in advance.
Thanks.
May I ask which dealership you or which state you are in?
In Southern Californi I was just quoted:
P1, AMG Sport Package, Panormaic Sunroof,
1. 1200 miles/year
2. 33 months
3. $2300 drive off
4. $580/month including tax.
I negotiated the following:
$5000 down, including taxes and charges
$575 per month
30 month lease
Palladium grey with black interior Sport
I think I can get them down to $525. What do you think? Thanks