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Mercedes-Benz E-Class Lease Questions
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Comments
Here is what he told me and what I know:
The deal advertised on www.mbusa.com is called Summer Love. If it is being called Employee Pricing, that's a misnomer as the discount is in the 8% range. If you don't have the MVP #, you are looking at about 8% discount + low lease rates. If you indeed have a MVP #, you'll get the 12.5% discount + lower lease rates.
If you don't have the MVP#, which is what I believe a majority of cases to be:
This deal is through Mercedes-Benz Financial at "participating" dealers till end of July - he said participating is based really on how much inventory you got and how desperate you are to push cars out the door. By his estimate, sales are down and almost all dealers are desperate...
$569/mo, $4214 out of pocket - 10K miles/year - This does not include spreading tax, title, and other fees
$55,195 based on Premium Package 1, destination charge, metallic paint
Dealer Contribution of 3586.96
Net Cap Cost $51,608.04
$595 vehicle turn in fee
Purchase option at lease end = $35,324.80 plus tax
Other things like excess wear, extra miles are all as usual spelled out separately
In NJ, my dealer mostly has cars with premium package, wood steering and ipod kits on the deals... more or less...
I forgot if townhall lets you post dealer names, salesperson names, so i'm not posting those details here...
K
I was lucky(buy some random luck) that the dealer actually gave me EMPLOYEE pricing, on a car. Basically i got the car, same exact price as yours, but also with IPOD KID. WITH employee pricing..i got the car, with 10kmiles a year for.
$384 a month
$1140 down.
so you can see there is a substantial savings. and the money factor, was unheard of...@ .00001 , which is basicaly 0% interest. I hope more people can get this kinda of deal, its truly remarkable for a $55.5k car. But i know my local mb dealer(ann arbor, MI)...has about 30 E-class models...but it seems they sold about 6 this past weekend alone, so the sale seems to be helping.
I tried for about a month to locate an employee willing to give it, didn't have much luck. Finally the dealer, dunno how...i didnt care...offered me car at employee price..and literally 35mins after they called me....i signed the paperwork for the E-class lease. I wish i knew of a way to help u guys out, i can't tell you how much i love the E-350. I had a gs300 previously...very different cars. Almost....literally.....HALF the lease payment of lexus...so i felt it was a once in a lifetime deal to pass up. My damn cell phone and cable tv/internet bills...come out to almost 300 a month....and getting a $55.5k car for around $384 a month was too good to be true....lucky for me, it was a damn good deal.
Can you provide some additional information on your deal in Brooklyn/Monmouth?
How much $$$ down?
What is the length of the lease?
How many miles per year?
What was he cap cost?
What was the money factor?
What was residual value?
Thanks so much for your help.
k
I don't pick my car up until next week but hear are the details,
* E350 4Matic Sport Back w/black MB tex
* MSRP $57,260
* Selling price $51,289 - $5,000 rebate=$46,289
* MF .0012
* Residual 60%
* term 27 month/ 15k miles per year
* payment w/o taxes $581.00
* payment with 6.575% sales tax $620.00
* zero down first payment+$75.00 for tags upon delivery
After doing the math I don't know how they got the payment so low. I asked the finance guy again if this was "employee pricing" and he said it was and that there was no other way to get the payments so low. I think he may have given me the wrong residual but not sure. Also, the $5k rebate threw me a loop. I thought the employee pricing was 12.25% off msrp. All I know if I'm not taking possesion unless my payment is $620.00
I bought my E-350 silver/black with P1 package and Ipod Kit last week. I actually had employee pricing as well.
Msrp $55.5k
Employee pricing $ 49K
MINUS 4k rebate( there is 5k on the e-550....not sure how they gave u 5k kroach)
So purchase price was $45k.
My car....i got it for 27months. $1140 down(first months + Lease turn in fee).
10k miles a year.
Monthly Price of $384.
Hey Jets80. Can u tell me what they are selling you the car for, I mean $570 is a pretty good deal, with literally ZERO down..but it seems they are still having you pay a little up front.....they can do betta. they aren't giving you true employee pricing. :mad:
I like to think so but your deal looks much stronger. Does your $384 payment include taxes? If it does I think I may consider walking from my deal and calling your dealer.
lower on payments based on your #s...
At two new york dealership they offered me a demo car with 3500~4000 miles on it with a discounted price of about 5k... over and above the other savings... that would have brought the price down to about 45K range.
even considering it's a lease, knowing the pains of a car like this going bad (i'd a bad history with a bmw convertible recently that i finally unloaded at upto 20k loss)... i decided not to take that 5k saving on price, pay the additional 100 bux a month as peace of mind insurance...
sounds like you're getting a great deal man. I've been to a mercedes dealer and wasn't getting anywhere near the payments that they quoted you. I think others have asked for this information already and I am new to the forums so not quite sure how this works, is it possible to get contact info on the dealer that you went to. :shades:
I live in Ann Arbor, MI ...its about 45mins west of detroit. Back in december the local MB dealers were running this ad of a E-350 for 350 a month, with emoployee pricing...i tired very hard then to get an employee #...but was unsuccessful.
Out of curiousity, and a need for an extra family car...i emailed a few of the dealers, to see if they are still offering "employee pricing" on MB cars...if you can get a chrysler employee price. They responded YES...ONLY if u can get an actual employee to give you a code. I tried for a few weeks, really had no luck.
So on the last day of June...literally ..around 530pm...I got a call from a MB dealer in lansing michigan...okemos auto collection...saying somehow they had an extra Employee code. (i had spoken to this dealer before, they knew i was trying to get an employee code). Literally 5minutes later....going around 85mph...drove the 45mins to dealer...because i was TOO excited for this once in a lifetime deal!! he informed he...TODAY was the last day to do it, had till 8pm..and if i wasn't interested, he had others in mind to pass the deal on to. I assured him i was on my way and went.
I got there...they had about 6 E-classes. I Saw a silver with black interior...WITH p1 package...ipod kit. We took it for a drive...loved it...and talked numbers...nothing to discuss really....the price is set in stone by MB.
I dont have exact numbers in front..but im sure im damn close to it.
MSRP $55,500
Employee purchase price : $49, 100?
MINUS MB rebate of $4000
Purchase price of $45,100
The deal was for 1140 down....First month of $384 and turn in fee of $750?
SO my price is...with 10k miles...for 27months... for $384 a month...WITH TAX!! i thought about maybe 12kmiles...but he said, residual changed..and added like $30+ to the payment. He said half way through lease...MB would call me..and ask if id like to buy more miles...and since i have true employee pricing...id get some sorta discounted rate(not sure on that tho). I was so puzzled how you could get a $55k mb for 384 a month...i couldn't believe it. In january, i actually leased a jeep commander...WITH employee pricing for $355 a month...and that damn thing had a msrp of 35k. I felt like i was robbing mercedes with this lease. If i were you guys, MAKE sure your getting the employee price...dont let them tell you otherwise. BTW..my residual was 64% and MF of .00001
Thanks for the response. Here is the deal I'm currently being offered, any input would be greaty appreciated. I still think this is too high for the monthly payment.
E350W $51,200
040 Black
141 Black MB Tex
P01 P01 Premium I Package: $2,410
389 : Hands-Free Communication System
530 : DVD COMAND Navigation
536 : SIRIUS Satellite Radio
540 : Power Rear-Window Sunshade
873 : Heated Front Seats
057 iPod Integration Kit $425
280 Standard Lthr Str Wheel/Shift Knob
333 333 Sport Package: 18" 10-Twin Spoke All
R68 : 18" Wheels
80V : Speed and Load Index
952 : Sportline Package
954 : Avant Garde Package (Sport)
414 Glass Sunroof
600 Headlamp Washing System
732 Black Birdseye Maple Wood Trim
917 PZEV-Emission, USA
SUBTOTAL $54,035
DESTINATION & DELIVERY $875
TOTAL $54,910
Lease
SPECIAL INTERNET PRICE: $47,044
TOTAL due at signing = $1050
10,000 miles per year,
27 months (best term)
Payment: $573+ tax or $620 tax including.
Money factor used is .00085 and the residual is set at 64%= $620
thanks for the response and setting the record straight. :-)
You seem to pretty much have the same exact car as mine...Except i have the IPOD kit..which was 400 more. The problem here is....Your not getting true employee pricing..either the dealer is able to give to you, but isn't giving you the full discount. Or he's just not able to give you employee pricing...and is doing the best they can.
Your "special internet price" should be $44,700 or so...IF they are giving you true eomployee pricing. Since my car had ipod kit...and got employee price of $55,100?...and the ipod kit is 500...it should be less than mine. There seems to be about a $2400 difference in price between your car and mine. So thats about $87 more a month. BUT your money factor is WRONG. and that could also be the difference in savings. The original MB deal...was .00030 MF nationally. I thought that was what i was gonna get too....but im assuming with Employee price...i got .00001 MF. WHich is prolly alteast another $50 in savings. I just can't to figure out why urs is $620 a month. Because your 620 - 384(my payment..for same car) = $236 difference a month. $236 * 27 = $6372. which is a ridic difference. I wish i had more to tell you...but somewhere...this dealer is hiding costs or taking advantage of you. DONT let them do it. I have to say, my deal took me about 30minutes...fastest i ever bought a car...they were straight forward....they wanted to get rid of a car...and i wanted it ...so it was win-win. You seem to know what your doing, use my #'s and approach them again...if they say its not true...i will personally mail you a copy of my purchase agreement.
Based on my calculations on what the dealer offered me, I was coming in at approx $510 a month (which included tax). My response to the dealer and their subsequent reply is as follows:
ME: I've run my own lease calculation analysis and for some reason I'm coming up with a much lower monthly payment than what you have noted below. With a base cap cost of 47,044 and a net cap cost of 45,994 (47,044 - 1050 down) and using the .00085 money factor with 8.5% sales tax on a 27 month lease, I'm coming up with a payment of $510.92 which includes the taxes. Based on this, I have a depreciation amount of 10,852, with a finance charge of 1,862 and tax of 1,170.
DEALER: You are missing a few things but I cannot tell you how your software works. I will be more than happy to show you my software when you get here. Your adjusted cap cost before you take out your down payment is $48, 682.84 You did not factor in the 1095 acquisition fee, 45 doc fee, your dmv lisence of $381 and the bluetooth adaptor of $510 which I included in your lease.
I have no idea how, based on the initial deal they presented that they came up with a $48,682 adjusted cap cost. Thanks for the heads up on the moneyfactor.
Your sales tax is a little higher than mine(6%)..so a few more hundred there. THe blue tooth adapater...is sold at cost for 400.
The problem with your cap cost is...he's not giving you employee price...thats the main difference. You mentioned a 1k down or so....My down payment included the Acquisition fee. So there is no need for him to add it to your cap cost.
If i were you...i would NOT pay more than First month + Acquis fee + tags.
And the money factor...he's clearly trying to decieve you. Somehow this dealer doesn't sit well with me. He's misleading you on Acquis fee and MF. Be careful with these guys...
Thanks for the reply thats kind of what I thought too. Its just hard to believe that you can get this kind of car for under $600 per month. I guess what really threw me was that another dealer would not beat or even match the deal that I got.
I'm definitely not getting employee pricing and I'm ok with that since its such a hard thing to manage to get in the first place. I just want to make sure I'm getting the best deal I can on this car. I know my monthly payments should be somewhere below the $600 mark. I'll let you all know where I end up.
DEALER: Where are you getting these numbers from? Whoever is trying to confuse you has no idea what they are talking about.
I think its time to move on to another dealer here in socal.
I'm sorry to hear this dealership is being so dishonest. Your in cali, i'm sure you prolly have plenty of MB dealers around..shop around.
About the Aquis fee. http://www.mbusa.com/models/main.do?modelCode=E350W
it says it right on there...i was off by $45..its $795. It amazes me...the audacity this idiot has in telling that your being misled. Perhaps you should tell him to read his own companys website. :mad:
Not only is your cap cost low, but so is your MF. Congrats on a great deal! If I could find someone in the NY/CT/NJ tri-state area to do this, I'd do it too
You do not want to lease an E-wagon. The rates are high and the residuals are garbage.
Thanks for sharing your information with everyone. Your information on the MVP # is exactly what i was told as well. Would you mind sharing the specifics of your deal. I am getting employee pricing but not sure they are giving me all the savings.
My hunch is they are not passing along all the savings because they have no problem selling the cars with less than the full discount.
MSRP $55,500
Employee purchase price : $49, 100?
MINUS MB rebate of $4000
Purchase price of $45,100
Residual 60%
MF .00001
Term 27 months
The payment I get is $468 before tax, but yours is $384 after tax. Am I doing something wrong? If you have the chance, I would greatly appreciate it if you can mail me a copy of your sales contract. My email address is visible on my profile. I would love to get a deal similar to yours. Thanks!
would you also be willing to mail me a copy as well? My email is visible. Thanks.
Also, I am in LA, any recommendations on dealers to try/avoid? Any thoughts on Bev Hills MBZ or Simonson in Santa Monica?
Thanks
I am actually sitting in Ohare international airport, on my way to China, and then india for a lil tourism and vacation.
The numbers up there are all right....EXCEPT!!....the residual is 64%...and viola the difference in price. Since i went with 10k miles for year, it was 64% residual. I believe 15k miles is 61%...12k is 63%. This is a national MB rate.
My local sales tax in Michigan is 6%. so you can see how I got $384 now. I have to say, I dont think its possible to get this deal without EMPLOYEE pricing! thats where all the savings is.
Id love to send you guys a copy, but i'll be back into town august 15th.
I think I have shared every aspect of my deal, hopefully you guys can find a dealer to match it for you. Tho i'm gonna assume most will say you need employee code for it.
It really is a wonderful car, goodluck in getting the deals. Ill check up on here, message if you have any more questions.
dt78. the $4000 in rebate CAN be used on a lease, if the dealer insists you cant, they are lying. its a pure fact, 4k is still available till end of july at the minimum. Its listed on edmunds website itself.
All things considered, is the 27 month lease the "sweet spot" right now for residual and MF? The info I saw on Roadfly for 2008 models is:
2008 Mercedes E350 Luxury Sedan
24 Month – Residual 61% of MSRP – .00085 Base Rate
36 Month – Residual 50% of MSRP – .00130 Base Rate
48 Month – Residual 40% of MSRP – .00130 Base Rate
60 Month – Residual 36% of MSRP – .00350 Base Rate
They didn't list the 27 or 30 month lease, can anyone provide residual and MF for those?
Is there a % off MSRP that I ought to be aiming for when I begin negotiating? And if so, shoudl I negotiate the price and THEN bring up the additional $4K?
Thanks again, very much appreciated.
dt78, my family has bought all their MBs from a dealership in OC. Feel free to email me if you want the name.