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Mercedes-Benz E-Class Lease Questions
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Comments
Thanks a lot for all the help
need it with navigation I am looking to put 3-4k down payment
Residual for 10k miles per year is 78% for 24 months and money factor is .00195.
I would not put that much money down on the lease.
I haven't gone face to face for final close
2012 E350W4 $52,990
040 Black
101 Black MB-Tex
S01 S01 Premium 1 Launch Package: COMAND Sys $3,600
810 : harman/kardon Sound System w/Dolby 5.1
540 : Power Rear-Window Sunshade
536 : SiriusXM Radio w. 6 mos. service
527 : COMAND w/Navigation and Voice Control
518 : iPod/MP3 Media Interface
218 : Rear View Camera
049 : iPod/MP3 Media Interface Cable
01R 18" Twin 5-Spoke Alloy Wheel
088 Identification code
104 Rear Spoiler $300
137 Comfort Box $290
287 Split Folding Rear Seats $440
321 321 Sport Package: 18" 5-Spoke Alloy Whe
954 : Avant Garde Package (Sport)
951 : Appearance Code
772 : Sport Bodystyling
677 : Sport Suspension
V04 : Tire Rating
731 Burl Walnut Wood Trim
873 Heated Front Seats
SUBTOTAL $57,620
DESTINATION & DELIVERY $875
TOTAL MSRP $58,495
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We will sell it to you for $52,965 and will do the following lease...
Term: 30 Months
Mileage: 10k per-year
Monthly: $558.00/month
Down: $2,500 (incl. all fees, taxes, 1st month etc.)
MF: 0.00169
the better use for the funds is to use multiple security deposits...instead of putting $4000 down on the car, use it for multiple security deposits. That should lower your money factor and save you probably $50 a month of actual savings...and unlike money you pay up front, you get the money you put down for multiple security deposits back at the end of the lease. It's the best use of your money...actually it pays about 11% per year when you work through the lease.
Finally, try to buy maintenance as a feature on the bluetec....remembering that features are "residualized" That is, you pay 22% of the cost of the car and features during your 2 year lease....and you pay 22% of the maintenance cost if they let you do this. There are mixed opinions on whether this is doable or not...my lease includes 24 mo of maintenance on my bluetec...others have been told that you can't residualize it, you can't do this on a diesel, etc. My advice....just try to do it and see what the dealer says. Mercedes seems to accept the lease either way....so you have nothing to lose.
Any suggestions on getting a lease with my non-Tier 1 credit? Should I do a downpayment in addition to the multiple security deposit?
The promo at the local Southern CA MB dealer has the following lease option for a 2012 E350 BlueTec.
Term: 24 months lease payment based on total gross capitalized cost of $55,952
- Includes Destination Charge and Premium 1 Package. Excludes title, taxes, registration, license fees, insurance, etc.
- $579/month
- Total monthly payments equal $13,896.
- Cash due at signing: $2,499 capitalized cost reduction, $795 acquisition fee and first month's lease payment of $579
- Total payments equal $17,190
- Mileage: 10K per year
Thanks in advance for your help.
Do you have an idea as to your credit score or even a range? Most of the MF's cited on this forum are for top tier credit, so my suggestion would be that if you know your score, perhaps you can ask the MB finance manager for the associated MF/interest rate for your credit tier. Then, based on the RV and target sales price, you can calculate your anticipated monthly lease payment in advance of 'formal' negotiation.
I would recommend putting $0 down (or close to it) and only paying first month's lease and required fees (e.g., DMV and registration). You should use the dollars that you would have put down towards MSD thereby reducing your MF which I suspect will be higher than what is quoted on this forum.
Finally, I encourage you to contact MB of Long Beach and ask for a salesperson with initials G.O. We leased our e350 Bluetech from him as he was completely transparent.
Cheers!
base- $50,490
palldium silver- $ 720
prem 1 launch package- 3600
comfort box-290
sport package
black ash
55,100
destination-875
total MSRP: $55975
discount from MSRP- $7975 with all incentives
Includes- 3 yr prepaid maintenance
1st month & fee down- $940.52
money factor .00189
residual- 61% $24144.75
$694. tax in, 33 months, 15k miles/yr
Do you have a break down of the cap cost like you had on the C-250?
It seems they are charging you for the maintenance this time.
Also, what all incentives did you get included in the $7975 off?
Also, I would have them look into a 24 month lease for you. I belive the residual should be around 68%, which would make the payment very close to what it is on the 33 month program.
It also looks like they are not "residualizing" your maintenance....it should be handled just like any other feature on the car so instead of paying the whole amount, you only pay 100%-61% or 39% of the MSRP. I think they are asking you pay the whole amount. This is a confusing part of the mercedes finance plan but I think you can just pay 39% of that $1700 maintenance rather than paying the whole amount over 33 months...push the dealer to check their Mercedes Finance manual on residualizing maintenance.
Depending on your financial situation, you might want to take advantage of multiple security deposits (if they are offered in your state and they are in FL). If you loan Mercedes roughly $7000 for the life of the lease, they will reduce your money factor. Not sure if they will take .0007 off the .00189 or if they would take it off a mysterious "base rate" of .00225 which would bring the MF down to .00155 from .00189. Again, ask them to run the cases with maximum multiple security deposits (10) and see what the monthly payment will be. Remember, you get that $7000 back at the end of the lease..it's not a down payment or capital cost reduction.
You'll really enjoy the car....
He beat to it this time, he added the maintenance knowing I would ask for it.
This was all he emailed me today. I will ask for the exact breakdown.
GH- good point about the 30k miles vs a 40 plan
Ok, here is the breakdown.
MSRP $55,975
Incentives & discount $8375
breakdown: dealer discount: 4875, loyalty: 2,000 CAP: 1500
Base cap $47,600
Total cap $50,064 Includes Bank Fee, Dealer Fee, and Maintenance
Residual 61% $34,144.75
Money Factor .00189
33 months 15k/mi/yr
Prepaid maintenance included
I am going to assume that MB's base finance rate is .00225 as it was last month. If you loan them $6500 in security deposits (include the $1500 here), then you monthly cost will go down by $28....that's $924 savings over the term of the lease. If you keep that $6500 in a bank for the next 33 months, it will earn roughly 1% a year for a total of $195. I think I'd rather save $924 using that $6500 then paying $924 more and earning just $195 with the money sitting in the bank. (This makes no sense if you are carrying any credit card balances or other debts...but if you just have cash sitting in the bank, it's a great deal).
This should be with 40K maintenance....I would suggest to them that they included the wrong maintenance, so they should give you the 40K mile maintenance for no additional cost (hey, it's worth trying).
I calculate that your monthly payment before tax should be $642 the way you currently have the deal structured....but using MSD's, it would drop to $613. Add $48 per month instead of that $1500 up front capital cost reduction. Note: 48x33=$1584 ... so you are paying about $84 more, but if the car is totaled or stolen, you will get a proportional share of the $1500 back. If you don't do it this way and the car is stolen or totaled, you will likely not get any of the $1500 back.
I was able to get it down to $670 a month.
Also, it doesn't seem like the dealer is residualizing the maintenance this time.
They added $769 to the Cap Cost without raising the residual.
Other than that, the deal looks solid.
I feel pretty good about the deal, $670. Plus my C was $125 a month less than my prior Glk lease.
Anyhow thanks so much for the advice. Hope we love both the C & E!
I am curious as to what that is and who qualifies for it.
Also, it really could be the dealer holdback that they receive from MB that they like to hold tight.
E 350 4 matic sport premium 1 premium 2 full leather
15k miles per year
33 month lease
612 a month tax included with 1100 down
I should have pounced on the deal but didn't.
I was getting at the time 2 k conquest cash and they were making the last two payments on my previous lease totaling 1k
Shopping around again now I see they upped the conquest to 3k but I have been getting prices at 680 a month tax included with nothing down on a MSRP 63,625 and selling price of 54,600 and 635 with nothing down on a msrp of 58,925 with a selling of 50,689
Have the programs changed that much or can I expect some better rates face to face vs over the phone/email?
I am in MA
How does it sound. Can I do better ?
Thanks.
P.S. Forgot to mention - I still have 10 payments left on my current 2010 E class - dealer buys out my car.
33 months/12K miles/756 a month plus TAX. $1100 up front covers first plus tax. The MB $795.00 bank fee was not mentioned. I asked about MSD on this lease and he said It might reduce it a little since the interest rates are very low right now. He mentioned single payment lease might reduce it, but only by a little cost. European delivery he said was 7% over dealer invoice? The claim was that this lease would be less than European delivery. I m also considering BMW to see what the offer. Any thoughts? Robert
Car_man
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Prices Paid: Buying & Leasing Experiences Forum
The numbers for an otherwise identical 33-month lease are .00169 and 61%.
This car's 36-month numbers are .00169 and 52%.
Mercedes is currently providing dealers with a select number of $1,500 "CAP" certificates or $2,000 loyalty cash or $3,000 conquest certificates that can be used on E350 deals. These offers cannot be combined and there is a limited number of them.
Car_man
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Prices Paid: Buying & Leasing Experiences Forum
2012 E350 P1 Sport and MSRP $55,265
Cap Cost: $47,750
Residual: 64%
MF: .00169
Orig: $795
Tax: 8.25%
Payment: $578.25 including tax
$1,250 Drive off
I think it is pretty good.
Thanks for your feedback!
Thanks!
Assuming 24mo is still sweet spot.
Looking to renew my current e350 lease.
Thanks in advance!
Car_man
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Prices Paid: Buying & Leasing Experiences Forum
I just got back from dealer and am looking at an E550 lease.
The MSRP is 73,870 including the 875 dest and deliv fee.
My "negotiated" price (I did not do any haggling, just got their initial offer, was 68,662.
36 month lease.
Only given 59% residual of MSRP (63% of negotiated)
with a money factor of .00240 (approx 5.76%)
Maintainence agreement of $805
Advanced payments (first month payment) of 1096.93
Upfront charges (not sure what this includes, again, only a cursory offer) of 1206.15
12K miles per year.
Does this seem high for a 36 month lease with a payment of almost 1100 per month?
should I try for a higher residual value and lower money factor?
would love to hear some thoughts, I am new to this!
thanks!
Woody
I would appreciate some info please....
My wife and I are looking to get 2 new E550's (1 cabriolet and 1 sedan) soon, but not in the same deal....we could do either one first...
We are interested in taking European Delivery of one of them and we are open to which 550 we take Euro Delivery of...
I understand that the Euro Delivery gives us a 7% discount and the destination charge is waived. I also understand that there are some other things included in the Euro Delivery like accommodations, taxi's, lunch, etc....
My question here is do we qualify for any additional incentives? My company allows me to participate in the Executive Allowance Program, We are USAA members, I am a Costco member also. Can any of these be stacked on on top of the Euro Delivery Discount? Can we use the CAP, Loyalty, or Conquest Cash on top of the Euro Delivery Discount? Would it be unreasonable to ask the dealer for a further discount? By the way, we currently own a BMW and a Mercedes, don't know if any of that makes a difference...
To complicate matters, we may have to take a 2013 since we are not looking to go to Germany until late July/early August.....
Sorry for so many questions and many thanks...
Tyler
I'm not sure when the 2013 E Coupes will be out. I don't think that it will be in the next two months, but again I'm not positive.
Car_man
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Prices Paid: Buying & Leasing Experiences Forum
I live in Cook County, IL. I'm trying to lease a E350 Coupe, 4matic, P1, and appearance package, MSRP of $59,165, with the $3k conquest. 24 or 36 months with 7500 miles.
What should my all in lease payment be (0 down, taxes and all fees included, except for 1st months + DMV)? What's the MF/Residual?
I was going thru the other posts and other people have been getting it in the $600's. The best price I could find is for $750, but that was from an out of state leasing company that has to ship the car. Local dealers are quoting me $820 per month.
Quote:
33mo/12k lease
e350W4 / P1/ Palladium / Sport / AMG Wheels / Rear Spolier / Split Seats
MSRP $60,085
Cap Cost $51,874
Residual 62%
MF .00116
Tax 7.375%
Payment $601 (includes tax)
Drive Off $900 (first month and dmv transfer fee)
Once I roll in my negative equity (5 months at $748 each), the payment goes up to $727.
Shame to pay for 2 cars for the first 5 months! But worried that if I wait 5 months, the 2013 will run more than $727 anyway. Thoughts?
Thanks,
Seth
Sign & Drive 760 a month (0 down no inceptions payment not for a month)
Is this a good deal?
Why the urgency??? if the dealer is creating the time pressure with a "deal is only good today" then tell them to fly a kite....
what's the money factor and the residual?
Does that price include taxes (what %) price include taxes?
Is maintenance included...if not, why not?
Not a deal breaker but limited cars with that color/set up.
Dont know MF/Residual..more concerend about payment
MSRP was 61405
your deal is better than one i was offered on MSRP 60585, 36 months / 10K yr / 61% residual / no maintenance / approx $4400 down incl first payment of $746
The "origination charge" should be $795....some dealers mark up MB finance's charge...make sure they are just charging $795 not $1095.
Ask them to run the same car on a 33 month lease...it may be less expensive then the 36 month lease. To compare the two, add up all the checks you will write over the life of the lease and divide by the number of months of the lease to get the real monthly charge.
Ask them to run the lease if you give them the maximum (10) multiple security deposits (unless you are in a STATE that prohibits them...I captitalize state because some dealers say they don't do them but it is a standard part of the mercedes finance lease so the dealers just don't understand them and say they don't do them). MSD's are an excellent way to reduce the overall cost of a lease. Ask them to run them....don't accept, "you won't save anything" or any other excuse. Then compare to the lease without MSD's and don't forget that while you write a check for 10 monthly payments up front, you get that money back at the end...it's NOT a down payment or capital cost reduction.
Make sure they are using the money factor for your credit score...ask if they are using tier 1 credit money factors for your lease.
MSRP on the car is $56,565 while Truecar shows an invoice price of $53,367 (inc. P1 pkg, $700 regional ad fee & $875 destination fee), while Costco auto shows $52,667.
I was thinking of trying for $52,500 + $3000 Conquest discount for a total of $49,500 and if I could, get them to throw in the maintenance. Too aggressive and unrealsitc? I don't want to insult them but I do want to get the best deal possible.
I also want to ask about the MSDs, but not until we agree on the price of the car first. Thanks for any advice.
Don't worry about insulting a dealer...that's rediculous. Your biggest negotiating weapon are your feet....when they won't meet your price, start to walk out...or walk out and wait for their call.
Some thoughts....try to find one with P2 for the headlights...they are worth the extra money. The mercedes origination fee is $795 which some (scum) dealers mark up to $1095....be careful. I am paying under $500/mo+tax on a 2011 P2 bluetec 24 mo 12K mile lease...you should be able to match that on a 2012 right now...if they have a car
The MSD's shouldn't effect the negotiation of price...the dealer isn't involved in the discount for MSD's.....but if the dealer doesn't understand MSD's it might confuse them and they might think you're a nut case (happened to me, but we worked it out). As you probably know, the max 10 MSD's should lower your money factor by .0007 which looks small but is significant when you do the calculations.
Don't put anything down on the lease...just pay the first month's payment and any legally required other fees...plus the MSD's which you will get back at the end.
BTW...it's a wonderful car...probably the first car I've leased that I'll be sorry to give up at the end.