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Mercedes-Benz E-Class Lease Questions
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We currently have a 2005 E320 that we owe $11k on but private sale according to KBB is around $15,300. We have it for sale on Autotrader right now and have a couple people who called and want to see it but I wonder if I could get the dealer to give me the same price we are asking privately, would definitely make it easier than dealing with selling it ourselves. I would apply the $4,300 "profit" toward multiple MSDs.
First, should the Conquest incentive be mentioned up front or first negotiate the best price and then bring that up at the end? Or just go in and say "I'd like to pay $52,500 for the car minus $3,000 Conquest for a total of $49,500"?
Second, should the fees and tags/title be rolled into the lease or is it better to pay them up front?
Time to jump on a deal if you have less than 6 months left. Or in my case, still worth it with 9 months left rolling 3 months into new payment - I'll still be saving about $60/month and be in a new car.
E350 4 matic, sport
P1, Met Paint, AMG package, Lip, split seats
12k/year, 33mo lease
MSRP: $60,085
Negotiated Price: $52,375
Neg Equity ($2.235)
COD: $900 (first month payment and DMV)
Monthly $690
Without neg equity, this car would be going off at $$610/month!
Not bad...what do you think Car_man?
Seth
We only got into serious talks with one of the three dealerships on a $60,080 E350BT with P1, Parktronic & Lane Assist plus other misc. options). While at the dealership they offered us $55,000 plus $3,000 Conquest incentive for a total of $52,000 sale price (plus fees etc). We actually wanted $49,000...not on this specific vehicle, but based on a $57,000 car. Since they didn't have a $57k car, we still pushed for the same price. They said they couldn't and we left.
10 minutes later they called and said the best they could do is $50,500. I countered at $50,000 plus maintenance and they said the manager had left for the day, that he didn't think they would do it but would ask tomorrow and follow up.
I feel that would be a very good deal. The $50,500 is good too, but still more than we wanted to spend. I know it has more options but we don't really need those.
Also, they offered us a fantastic deal on a $61,875 MSRP E350BT with P2, panorama roof & lane assist. They would do it for $51,000. We liked the interior and exterior colors but absolutely hate the panorama roof, so much so that it's a deal breaker. I've driven the GLK350 with the same roof and it kills here in Phoenix with the heat. You just feel it radiating down on you, that shade they have is useless, my forehead was sweaty the whole time I drove the GLK. Fantastic deal for anyone who would appreciate it though.
Does the residual on a vehicle change depending on the options? If a E350BT with P1 has a residual of 77%, should the residual on on with P1 + Parktronic + Lane assist + etc still be 77%?
The RV does not change based on options selected. It is solely dependent on car type, lease term (24 vs. 36, etc.), and miles per year. i.e., RV is fixed by MB financial.
However, make sure that you know the base rate MF in advance of finalizing the deal as many unscrupulous dealers mark up the MF as an additional source of profit, preying on unsuspecting customers. As ghstudio and others (myself included) have evangilized, I would strongly encourage you to consider the 10 MSD's to reduce the MF as that should save ~$40-65/month, and you get the deposit back at the end of the lease.
My wife adores her E350BT (P1, sport, parktronic, spoiler pkg, split folding seats, and deep tinted windows).
Cheers!
MSRP: $57,575 (E350BT with P1, Spoiler Appearance Pkg & Lunar Blue paint)
Purchase price: $48,650
Residual: $42,605 (74% residual with 15k/year. 10k would have been 77%)
Money factor: .0025
Out of pocket: $2455 (first month, registration, $250 doc fee, $795 acquisition fee)
Payment: $480 + $45 tax per month
About the Multiple Security Deposits, of course the salesman had no idea what that was. He asked finance, which said they hadn't done on in at least 10 years and they had to call MB Financial, who apparently said that the person in charge had left for the day (it was 6pm local time, 9pm eastern). We drew up the contract and they said we can go back tomorrow and redo it after they talk to MB Financial. I hope that is true and they don't try and pull something because they seemed pretty pissed with us.
Thanks you everyone for your help!
I just picked up my 2012 E350 sport yesterday. I always read your forums to give me an idea of what to ask. So the least i could do is share my deal. I was debating over a 2012 528i and E350.
E350 sport P1 package Palladium silver
MSRP 55985
33 Mo lease
12K per year or 1k per mo
All Maintenance Included
Monthly 645 incl tax
Drive off 0$
All I paid was 645$ which was my first mo payment.
I thought it was a good. Thanks for all your help guys!
It's still valid for May, not sure if it will extend into June, it probably will as it's been going for a while but it has to end sometime so who knows.
As for how we got the actual price...just sort of happened. We initially figured it should be able to get invoice minus the $3k conquest cash. We based the invoice price on a base E350 Bluetec + P1 and nothing else, which would be around $52k - $3k incentive for a total of $49k. The thing is, none of the dealerships had just a base + P1, so the MSRP was higher but we told them that we didn't care about the extras and still wanted the car for $49k. Had one dealership come down to $50,500 from $60,080 but it didn't work out with them, so the second dealer we went to, we asked for the same $9580 off an MSRP $57,575 car. They couldn't go that low, but met us at $48,650...a $8,925 discount.
The new build I want is the following:
2012 E350 Sedan
MSRP $50,490
COLOR
Exterior: Black $0
Interior: Black MB-Tex $0
Trim: Black Ash Wood Trim $0
PACKAGES
4MATIC Package $2,500
Premium 1 Package Included with package
Premium 2 Package $6,450
Wheel Package $760
Sport Styling Package $0
OPTIONS
Rear Spoiler $300
Panorama sunroof $1,090
BASE MSRP $50,490
ADDITIONAL COSTS $11,100
TRANSPORTATION CHARGE $875
TOTAL PRICE $62,465
So I am obviously looking for the best lease price with only the min. required down payment.
I need 12k per year and open to lease term but want best monthly price with lease no longer than 36 months.
Any guidance on what I should be asking for that is realistic would be appreciated. Also if they do give the price, can they change the residual to make payments higher? Is the residual a locked figure based on the car model?
Thanks in advance.
Rob
As for the MSDs, it's true that if you are getting a promotional money factor, then you can't also do the MSDs but if it's the standard .0025 money factor, you can do them. Some dealers may not want to deal with it (though the process was very simple) because they are not familiar with it. Ask what your money factor is on the deal and if it's .0025, then press them to do the MSDs.
The invoice on the car you mentioned is around $58,500 with the dealer cost being $56,578. If you press them enough, you should be able to get the car for dealer cost minus any incentives, such as the $3,000 Conquest, so around $53,500, if not better. Keep in mind I was able to get $8,925 off my car (which was only $57,575 MSRP), plus I had another dealer who offered $9,500 off a $60,080 car and also $10,500 off a $62,000 car...the more the car costs, the more they should be able to discount so on your car, I think it's completely possible to get at least $9,000 off if not $10,000.
I would approach it this way...do everything over the phone (I assume you've already seen the car and test drove it?). First work on the price, tell them what price you want, go lower than you want as they will meet you in the middle. After you get the price locked in, ask what the residual value and money factors are for different least terms, I believe on the gasoline E350, 33 months is the sweet spot but you can ask for 33 and 36 months.
Once you have all the figures, you can punch them into an online lease calculator and it will give you the monthly payment.
When you go to the dealership, most likely their number won't match yours because they either inflated the money factor from what it should be (the money factor is set by Mercedes Financial, not by the dealer, but the dealer tries to add on to it to make money) or because they put in some other fees. The destination charge should be $875.
It's all "simple" math once you have the price of the car, the money factor, the residual and the term you want to lease for so don't buy their story that your numbers don't add up (what they tried to tell me, saying my calculator was wrong). If they won't give you what you want, and what they should per your earlier conversation over the phone, then walk out. Most likely they will call you back a bit later to say they can do it, it's what happened to me. Or if you're happy with the numbers they give you and don't want to potentially lose the car, then go forward but for me, I just didn't feel right paying more than what my calculations came out to be, even if it was only $25 more per month. It wasn't about the $25 but I wanted to know WHY it didn't add up and they couldn't explain it. They finally gave in and gave me the price that my calculations came out to be.
Good luck and keep us updated.
Cheers!
There's nothing wrong with rolling tax, title, etc... into your lease payment. In fact, I personally prefer to pay as little as possible at lease signing.
Car_man
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Having said that, the selling price that you were quoted looks excellent. Just make sure that the dealer is using MB Finance's current buy rate lease money factor of .00126 (top credit tier) to calculate your payment and you're in business.
Car_man
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The exact impact upon this car's payment will depend upon its MSRP and selling price.
Car_man
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Car_man
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Mercedes is not providing any lease support on any length lease of this car, so 36-months wouldn't be any better other than the fact that the payment would likely be lower as a result of spreading out the large initial depreciation hit out over a larger number of months.
Car_man
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First of all, Mercedes' lease support on it is only available for up to 48-months. So if you lease for any longer than that, your car's money factor would jump from .00150 to whatever the standard rate is.
Also, Mercedes' bumper-to-bumper warranty coverage is only available for up to 4 years. So if you were to lease this car for five years you would have to pay to have anything that went wrong with it over the last year fixed out of your own pocket.
Car_man
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Thank you ghstudio for your kind response as well.
Vince
2012 e350, P2, Drivers Assist, Leather, Obsidian black, Spolier package, active driver seat, ventilated seats, etc.
MRSP 66,125
Money factor 0.0015 (They say that 0.0126 is only on 4 matic)
Selling Price 62,900
Acquisition Fee 1095
Cap Tax 156
Gross cap cost 64,494
USAA Rebate 4,000 Cap cost reduction
Net Cap Cost 60,494
Residual 0.62 12,000 miles 33 months
Residual 41,016
Monthly payment pretax $750
0 downpayment
Anything I am missing?? Any advice.
If you are leasing, add the mercedes basic maintenance to the lease and make sure it's capitalized, not just charged in full over 33 months.
That origination fee should be $795 which is what mercedes charges. The dealer is marking it up for extra profit.
If the car is totaled, then it is paid off to the dealer by insurance so you do get your MSDs back. Security deposits are usually only kept if the car has some sort of damage or excessive wear and tear at the end of the lease, but it would be no different than if you didn't do the MSDs and then they would just send you a bill for those items.
The proper way is to take the calculated monthly payment without tax and then round it up to the nearest $50.
Renegotiated, got what I am happy with.
thanks for the input!
"We can put you in a E350 4matic with an MSRP of $60035 for $698.59 for 33 months with 12000 miles per year. The money factor is .00116, the residual is $37221.70 and due at delivery is $1078.98 including 1st pymt with acq fee of $795 rolled in. "
Is it a good deal? Never had a lease before so need some help please. I need to close out a deal by Saturday.
Thanks much!
Its hard to assess the deal as the dealer is not providing you with the final sales price. I also don't know if the MF quoted is indeed the base rate MF for a 33/12 lease on 2012 E350 4matic.
Nonetheless, assuming a sales tax of 7.75% and that monthly payment (698.59) includes tax, I roughly calculated a final sales price of $54289 (includes the 795 acquisition fee). Given the incentives that may be available such as Conquest, USAA, etc., I think you can push for a better sales price.
Cheers!
Car_man
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Want to know the MF(tier 1), residual%, and sweet spot for lease (Iv'e read 33mo for the gas vehicle).Not sure but from what I'm reading it sounds like 33mo is better than 36mo and that 15k miles is better than 12k. Is this right?. I live in Los Angeles, CA. Does the competive conquest program apply here? Is origination charge $795 correct? Can the conquest program be combined with the MSD's. and does each MSD lower the MF by .0007 or .00007. Seems to be some discrepency between posts from others on this thread.
Thanks in advance for your help both now and in the past.
rravinmd