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Mercedes-Benz E-Class Lease Questions

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Comments

  • passat_mxpassat_mx Member Posts: 32
    It looks like your dealer is marking up the MF. It should be 0.00100, per this thread in mbworld (http://mbworld.org/forums/showthread.php?t=216821). It is never a good idea to make a down payment (aka cap cost reduction) on a lease, and much less when the manufacturer is offering you a below-market rate (better to try and roll everything, including bank fee, into the lease and keep your money in your orange savings account ;-) ). The basic reason why this is a bad idea though is that if you total your car or it gets stolen, the gap insurance won't cover your down payment.

    Hope this helps.
  • skh168skh168 Member Posts: 4
    Carfan20,

    would you let me know where you are leasing the car? Is this in Southern Cal?

    Thanks.
  • skh168skh168 Member Posts: 4
    AAs5,

    Would you let me know if you are leasing in Southern Cal? thanks
  • carfan20carfan20 Member Posts: 2
    Too much money. I am in Florida, and the past several cars I have leased, I got from a dealer in NY. If you are interested, send me a private message and I will send you the contact information. The price I got was $499 per month, 24 month, $2300 total out of pocket (includes first payment).

    I drove the car at a local dealer, and the E350 drives like a dream. I have an MB R350 for the wife... but the E350 drives SOOO much smoother!
  • gzirpologzirpolo Member Posts: 2
    Hotlanta
    Where did you purchase your E350? I'm looking for a deal similar to yours. What packages did you get?
  • hotlanta2hotlanta2 Member Posts: 27
    This was a 2008. 24 months, 12,000 miles per year.

    Sovereign MB in Brooklyn, with fleet group.
  • hotlanta2hotlanta2 Member Posts: 27
    Sovereign MB, Brooklyn, NY (fleet group)This was a e350 and not 4matic. around $55,000 sticker. P1 Package, Ipod, and custom paint.
  • aas5aas5 Member Posts: 50
    no, NJ, but if it is a much better deal, why don't you ask them to ship it.
  • jaxs1jaxs1 Member Posts: 2,697
    It's almost December now. I'll wait and see if December rates are the same or better if I don't end up deciding to give up on trying to find a similar deal on the E350.

    I still wonder why I don't see anyone getting this deal on the west coast. It doesn't make sense that one dealer or even one small geographic area would have better deals on the E350 lease than the entire rest of the US.

    Paying $1000 or more to ship it to the west coast isn't going to be worth it even if I were able to get the same NJ dealer to give me the same deal.
  • gzirpologzirpolo Member Posts: 2
    Carfan20
    Can you send me the information on the dealer?

    Thanks
  • nkf2008nkf2008 Member Posts: 88
    I got my CLK350 today, and I saw something interesting that the dealers arent telling you. There is a dealer rebate on a majority of the models, the rebate is to dealer only, and its about 3.5 grand perhaps even more depending on the models. Thats why they offer these rates at low prices. The form came somewhere from a NJ dealer, or perhaps from a MBF itself, but I think thats in TX.
  • jaxs1jaxs1 Member Posts: 2,697
    Is anyone in northern or southern California finding lease deals comparable to these bargain 24 month leases people are saying they're getting in New York and New Jersey?
    Does anyone know if there is some regional incentive in the northeast that is unavailable on the west coast?
  • marky22marky22 Member Posts: 16
    Very interesting. I am picking up a 2008 E350 4 matic today. Loaded. MSRP $59,625.00 from Prestige Motors in Paramus, NJ. For the life of me I could figure out the deal they offered me. It sounded too cheap. Every time I ran the numbers I kept coming up about 789.00 below cost. I took into consideration the $2000.00 dealer cash on the lease and the dealer hold back money. The added dealer only incentives makes sense too me. My deal is: 24 months, 0 cap cost reduction, $1720.00 at pick up which includes 1st month, tax and tags, and acq fee. 10,000 miles per year. My monthly payment is 605.00 including Pa lease/sales tax. Black w/ black interior. It will me my second E Class. I only hope this one is as solid as my last one. Questio, you would happen to have a copy of the dealer incentive form?
  • javafan1javafan1 Member Posts: 25
    Can you let me know what packages included in the price ?
  • marky22marky22 Member Posts: 16
    Sure. The MSRP is $59,625.00. Black w/ Black MB Tex. Premium package #2, Parktronic, Panaramic Roof, and a no charge Sport Package. The best deals are to had at Prestige Motors in Paramus, NJ. Ask for Keith DeYoung.
  • crestonavecrestonave Member Posts: 209
    Lotsa luck with your new MB E350.

    Would you mind sharing your residual? Any idea what the money factor is?

    I'm thinking about a 4matic e350 wagon myself. It doesn't look like the wagon deals are as good as the sedan, however.

    Thanks!
  • javafan1javafan1 Member Posts: 25
    Thanks,

    I got a quote from a local MB dealer (NY) for a E350-4matic+P1, MSRP is 56780.
    The lease rate is much higher than the one you have.

    I will call Keith to see if I can have the same deal.
  • marky22marky22 Member Posts: 16
    At first my residual value was 66% of the MSRP based on 10,000 miles per year. I decided to change the miles to 12,000 per year and the residual changed to 65%. The change in residual of 1% adjusted my monthly payment from 605 to 630.
    E350 4matic sedan: 24, 63%, 0.00080. 36, 53%, 0.00155.
    E350 4 Matic wagon: 24, 59%, 0.0039. 36, 48%, 0.00350.
    **both above money factors are for 15,000 miles per year. For 12,000 add 2%, for 10,000, add 3%. These are November number but, I believe they are going to be the same for December based on the MBUSA web site. Hope it helps.
  • crestonavecrestonave Member Posts: 209
    Thanks for the info, it certainly does help. I'm particularly interested in the 4matic wagon. Always thought they were really sharp. The website mbworld dot org has a list of lease rates for all the MB models and the rates they show for the 4matic wagon are much higher. I could easily get by with 12k a year as well.

    I'm also thinking about the new Volvo XC70 wagon but before I pull the trigger I want to at least check out the 4matic wagon.

    Appreciate!
  • nkf2008nkf2008 Member Posts: 88
    I dont have the copy of the incentive form, but I was looking at for quite some time.
    It looked to have many MB cars on it offering rebates.
    I think this is a Fleet rebate for dealers.
    Meaning, the more cars they push out the more money back they get, looks like a volume discount, but you have to sell an 'x' amount.
    It makes sense for them to give the cars away at lowered prices, and then get that money back directly from MB instead of the consumer.
    Not sure how this is all working, but it seems here in NY/NJ MB dealers are doing this. Your best bet is to go through a leasing agent instead of a big shop like Prestige.
    I have called everyone, Sovreign, Regency, a few places in long island, many MB dealers, everyone keeps offering similar rates give or take +/- $50 bux on a deal per month.
    I am not a fan of the E-Class honestly, I got a CLK, its just a personal pref.
    (on the E3504matic fully loaded)
    I had an offer with 2000 grand out of pocket, and 499 a month for 10k miles 27 months.
    and as much as 530 per month for 1700 out of pocket.
    I think these numbers vary when they play with the money out of pocket. but 530 with 1700 out, i think that is the deal where the dealer makes very little or nothing at all and its all just about the rebate money at the end of the lease program. :confuse:
  • crestonavecrestonave Member Posts: 209
    According to the mbworld.org website, the money factor on the 4matic wagon is a lot higher than the money factor on the 4matic sedan. If I multiply the mf by 2400, which I believe is the correct way to determine an apr, the sedan comes in about 1.9% but the wagon is over 9% !!!

    Re the fleet rebate, based on volume of sales, etc, that could explain why the Smithtown dealership is ran some kind of invitation-only event today - wanted to pack the house and get as many cars as they can out.

    I won't go to a dealership on Saturday. I'll wait until the early part of next week and stop in and see what they will do for me.

    Thanks!
  • javafan1javafan1 Member Posts: 25
    I almost leased the xc70. I did not do it because the volvo just recalled the 2008 xc70 for the air bag issues. Also, if you check xc70 safety discuss forum, previous xc70, v70 also have air bag issues.

    The lease rate for xc70 is not bad, i got:

    2500 out of pocket (ny tax included)
    525/month
    premium, climat & convenience, nav , blis
    24month, 10.5k

    E350 wagon is not for lease, MB want you to buy it and that's why MF is so high.
    I am looking R350 right now. the money factor is 0.0006 !
  • crestonavecrestonave Member Posts: 209
    I also saw that item about the XC70 airbags, which raised a big question in my mind as to whether I should keep considering it. I also see the residual on the XC70 is around 69% for 24 mos vs around 61% for the MB. No wonder the Volvo lease looks so cheap.

    When we were looking this spring for a new minivan for my wife we looked at the R350 and weren't that impressed. She wound up getting a Sienna instead.

    Thanks for the input.
  • jyeh74jyeh74 Member Posts: 10
    This is the best deal I found in So cal.

    08 E350
    P2 Package, Wood Trim Steering Wheel
    MSRP 55k
    24 month
    15k miles/year
    $1250 drive off (0 down)
    $650 per month including tax

    Feel like its still not a good deal.
  • jaxs1jaxs1 Member Posts: 2,697
    Sounds like it would normally be an OK deal on a $55K car except others are posting payments $100-$150 less for the same thing in New York and New Jersey.
  • shawn757shawn757 Member Posts: 204
    Hi,
    I got a deal from LA dealer

    E350 BAROLA RED 08
    P1 PACKAGE
    VOICE CONTROL
    MSRP 56270

    15K MILES A YEAR FOR 24 MONTHS
    PAYMENT $570 including tax with $4955 total drive off(this include lease ware and tear protection plan)

    IS this a good deal? Let me know I need to make my decision soon.
  • crestonavecrestonave Member Posts: 209
    Lease wear and tear protection plan? New one on me. How much and what does it cover? Is it offered by Mercedes Benz?
  • shawn757shawn757 Member Posts: 204
    It's like $799. It covers tires(if there require new ones they will replace with no cost to me) + scraches and so on. Nut much of a thing but I guess I'll take it. What do you think of the deal? Can I do better? They are saying the money factor is 1% and residual is 66% for 24 months with 15k. Is this true?
  • shawn757shawn757 Member Posts: 204
    They are saying the selling price of the car is $48270. Thats like $2500 less than the invoice. I guess they are getting a rebate but he did not tell me after I asked him several times. He told me that more cars they sell, MB will take good care of them.
  • shawn757shawn757 Member Posts: 204
    What is the residual and MF on a E350 for 24 months with 15K miles an year?
  • mankumanku Member Posts: 76
    I just bought one this afternoon, 350rwd, 55k list...

    I paid 750 month with tax, 1200 out the door for 24 months/12k.

    I probably paid too much, but they paid off the last 5 payments of my crappy old e320.

    Funny thing, I wasn't really gonna buy a car, didn't do any research and now I'm seeing how dumb I was.

    I figure I could have saved maybe 50 a month, at best. The advertised rates (579 + big down payment) work out to about 720-730 when you amortize it. I see some of the east coast quotes and am baffled at how they can be so low - my negotiated price was 48k, and i'm only paying 2500 in interest over 2 years ... thats less than 2.5% per year!

    Anyway, the car is awesome and blows away my 2004 e320.

    Good luck.
  • jyeh74jyeh74 Member Posts: 10
    manku, where did u get the deal on the 08 e350? What did u get? P2? Parktronic? I am going to get a lease in so cal too within 2 weeks and i am deciding where has the best deals. Trying to get a 08 with P2 package and parktronic with no down at 15k miles/yr and 24 months for mid $600 a month.
  • mankumanku Member Posts: 76
    jyeh74 -

    I don't know if you're gonna be able to do that, at least here in socal.

    i got p1, ipod, sports, metalic paint. grey/grey.

    basically, from what i see in advertisements, it all works out the same...your total cost is gonna be around 18500 for 24 months (that includes aquisition, licensing, taxes etc...)...whether you want to put more down, or less, that's your total cost...or about 770month all in for 24.

    btw, things i just noticed (boy do if feel stoopid!) - a 1095 aquistion fee (why is it 400 more than on adverts - california?), and a 500 "missing docs" fee - if i lose the instruction manuals I get charged 500! i may go back today and ask them about this.

    also, i got for 800, the 5000 wear and tear warranty - which covers all damage, incl. tires, up to 5k - considering every leased vehicle has had at least 750 in turn in damage, i think its a no brainer.
  • aas5aas5 Member Posts: 50
    My total cost for a E350 4matic with P1 and ipod with 7.5K miles a year is $12.9K for 24 months, which includes $2.5K upfront (all fees, first payment, etc.) and 23 months at $450. I also have the $500 missing doc fee which the dealer was upfront about and just said don't ever remove from the car and you will be fine.
  • myerslawmyerslaw Member Posts: 21
    The world's largest Mercedes dealer is Fletcher Jones, in Newport Beach/Costa Mesa. Ask for Mike McMullen. They sell/lease as many cars/month as most dealerships do in a year. Huge selection.
  • marky22marky22 Member Posts: 16
    This is not a advertisement. The best deals in the northeast are to be had @ Prestige Motors in Paramus, NJ. The gentlemen you want to speak to is Keith DeYoung. I leased a 2008 E Class and a good friend of mine leased a 2008 S Class. Keith beat everybody's numbers. The E Class was a 24 monh lease, 12,000 miles per year, 1720 total at signing, 4 matic, parktonic, P2, Panaramic roof, MSRP $59,625 @ 632.00 permonth which included PA lease and sales tax. My friend leased a $96,000 S Class @ 39 months, 12,000 miles per year, 2650.00 total due at signing @ 1580.00 per month which included PA sales and lease tax. Very simple and quick. they also have a huge selection to pick from.
  • crestonavecrestonave Member Posts: 209
    I'm familiar with Prestige, or at least I think I spoke with them a while ago.

    What about service? Can you have service done at any Mercedes dealer? Suppose it involves warranty repairs? I can't be stuck going to Paramus when I live on Long Island. Simply not worth it no matter how good the deal is.

    Thanks.
  • marky22marky22 Member Posts: 16
    Service Question. I live in Pennsylvania and have my service and warranty work done at a local dealer. Any Benz Dealership is ok. Question? Do you think a Mercedes Dealership would turn you down for service when they are making money on you? There, your problem is solved. Go to Prestige and tell them that Mark & Tina from Pennsylvania sent you.
  • jaxs1jaxs1 Member Posts: 2,697
    It would be outrageous for a factory warranty to be good at only one dealer. They area not fixing your car "for free," they are being paid by Mercedes.

    What if the car broke down on a vacation road trip? Suppose you bought a Mercedes and moved across the country the next year? You would have no warranty if that was true.

    You will likely lose "perks" like free car washes and loaner cars that the dealer you purchased from might have offered to their customers.
  • jyeh74jyeh74 Member Posts: 10
    MArky22,

    I spoke with dealerships in so cal but they said PRestige is a broker and dealerships cannot and will not match their deals.
  • jaxs1jaxs1 Member Posts: 2,697
    That doesn't even make sense. A broker would have to buy from another dealer first, add a markup, then resell/lease. It seems unlikely that a dealer cannot just sell to the customer directly for the same or less than going through the broker.
  • toby80toby80 Member Posts: 2
    Hi
    I got a quote from a dealer in Orange County, CA E350, Premium P01 package, Ipod, Headlamp washing system and iidium silver, MSRP 55320 for $4,900 total drive off, $519/month, $595 tune-in fee, 24 month, 12K miles/year. Total of payment is $17431 (include wear n tear up to $40,000 and theft protection up to $5,000)
    Please let me know if it's a best deal so i can pick up the car ASAP.
    Thank you
  • jaxs1jaxs1 Member Posts: 2,697
    How exactly do they make money if you are free to cause up to $40,000 worth of wear and tear damage for an $800 premium?
    If you buy the insurance, you are going to spend $800 on wear and tear whether there is anything that qualifies as excess wear or not.
  • toby80toby80 Member Posts: 2
    Hi
    oh, i checked and found out that they will waive or reimburse me maximum $5,000 only for limited physical damage charges defined as following at the time I turn in my vehicle:
    What is considered excess wear and use?
    Our lease-end process, The First Class Finish provides guidelines used to evaluate the condition of your vehicle. Here are some of the conditions that would be considered excess wear and use:
    - Damage to major driveline components (engine, transmission, differential).
    - Damage to the vehicle's frame.
    - Damage to the interior or exterior that is beyond ordinary wear and use.
    - Missing or broken parts and accessories, including optional factory equipment identified in the lease.
    - Missing tires, tires of unequal size, tires that have sidewall plugs, cuts or exposed cords.
    - Wheels that are broken or cracked.
    - Stars, cracks, holes or plugs (regardless of size) in the windshield, or other glass or lenses.
    - Failure to maintain the vehicle according to manufacturer's specifications (the maintenance must be documented).
    - After market alterations not installed by an authorized Mercedes-Benz Dealer.
    - Any condition that makes the vehicle either unlawful or unsafe to drive.

    Because parts and acessories of MB are really expensive, so i think this cover is worth to pay.
  • jaxs1jaxs1 Member Posts: 2,697
    Or just don't do those things that are covered by the insurance.
    Your auto insurance covers accident damage to the frame etc..
    Doing the scheduled maintenance, not altering the vehicle, broken rims, missing/bald tires etc. are common sense.
    You should be able to keep your car looking good for the duration of a 2 year lease. My car is more than 5 years old and doesn't have any of the problems you listed.
  • nacho2nacho2 Member Posts: 82
    Just to let you know you are not getting a good deal, why the drive off of $4900? You want just drive off(bare minimum-dmv fee,doc fee,first month..), make sure to focus on the selling price of your vehicle and not the monthly payment.
  • marky22marky22 Member Posts: 16
    Can you explain Prestige being a Broker. I am under the assumption they are a dealer. Mark
  • crestonavecrestonave Member Posts: 209
    Check them out on the internet, they're clearly a dealer. Just go to the MB USA website and plug in "07652" as the zip code and they pop right up as a MB dealer. Sounds like the dealer who said they are a "broker' is just lying as to why he can't or won't compete on price. Can you believe that? A car salesman lying to a customer? Guess there's a first time for everything.
  • jdhjdh Member Posts: 19
    I am thinking of leasing a new Mercedes. My current lease is up in February, but like the current lease offered by Mercedes. Does anyone know if they will have a similar lease sale in February.

    JDH
  • aeggroupaeggroup Member Posts: 133
    You can go to Any MB dealer even now and lease a car. When I spoke to my dealer about my lease, which expires in July, he said they can easily eat 4 payments of my current lease and it does not affect your payment. Try it. Good luck.
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