Hi lan_rover, I'm not sure I understand what you mean by price? Sales price of the vehicle? Remember, you still have to negotiate the sales price of the SUV as you would if you were purchasing the GL, and you should include all incentives and rebates in addition to the price reduction you secure with the dealer. The calculations would be as follows, Monthly Depreciation = (Negotiated Sales Price - (RV*MSRP))/Lease Term Monthly Interest Charges = (Cap Cost + RV*MSRP)*MF Monthly Lease (pre tax) = Monthly Depreciation + Monthly Interest Charges *N.B.: Cap Cost assumes Negotiated Sales Price + Acquisition fee (i.e., no cap cost reduction or $0 down)
MSD is a 'finicky' calculation. Each security deposit is roughly the pre-tax monthly payment as calculated when using the original MF (i.e., MF prior to reducing it by 0.00070). So let's assume the monthly lease prior to MSD is ~$650. You would write a check to MBFS for $6500 (10x$650) for the MSD. Remember, you get this money back at the end of the lease term, but you get significant reduction in monthly interest charges per the equations above.
Not all sales people nor their managers are familiar with MSD, so you may have to educate them or have them speak with MBFS directly in your presence. Savvy finance folks at the dealership should be aware.
Hi jobwelldone, Based on your numbers along with an assumed acquisition fee of $875 that I included in the cap cost, I calculated a pre-tax monthly payment of $694. I hope this helps.
I'm trying to get in the ballpark in Southern California for a one pay lease. I keep getting that the residual is now 68% (has it gone down?) instead of 71 - 72%. I'm literally 6000 off from the 15k one pay leases that some of you are getting. What am I doing wrong?
I'm going to reply to my own post - I've been told that the incentives that allowed you to get these great deals have ended and that the residual has gone down. If you know otherwise please post here. Thanks...
@dewarsandsoda - Sorry I meant the cost of each MSD. Just to follow up on your example, assume I do a 10 unit MSD on a 24 month lease with a $650 monthly payment after the MSD. I would put up $6,500 as an initial deposit. Then I would pay $650 + tax each month for 24 months. At the end of the lease I would get back my $6,500 MSD or would I be prepaying the last 10 payments? Would I get any kind of interest on the $6,500 or is that kind of factored into the overall interest discount of the MF?
Also is the MSD MF discount a negotiable item for the dealer or is it set in stone by MBFS.
@lex13 - Regarding January discounts, I've been told that the Conquest discount has been reduced from $4k to $2k. This was from a salesperson at a MB dealer -- don't know if it is true. AMEX and USAA may still be going.
Have not been able to get leasing numbers yet. So if anyone has MF RV numbers please share.
Money Factor and residual are the same as last month, at least on the 24 month program.
MF is .00131 and residual is 68% for 15k miles per year (71% for 10k miles per year).
However, as indicated above, Conquest Cash has gone down to $2,000 from $4,000. This makes the payment roughly $100 more per month this month as compared with last month on an otherwise similar deal.
Also, dealers are probably a lot less likely to discount that much since it is not the end of the month and end of the year.
The correct way to calculate the MSD, as specified by MBFS, is to calculate the monthly payment without MSD's, round that number up to the nearest $50 and that's the amount of each security deposit. This is what was done when we leased my wife's E350 bluetech. I can't tell you what your dealer will do...most have no idea about Multiple Security Deposits at all so you may have to have them speak with MBFS in your presence.
Returning to my example, lets assume that your monthly payment without MSD is ~$650/month. As a result, the total MSD would be $6500 and in exchange for giving MBFS $6500, you would get a 0.00070 reduction in MF (~2% reduction in interest charges). The dealer would then calculate your monthly lease payment based on this new MF. Whatever that number amounts to (+ tax) is what you would pay, and I can assure you that it is significantly less than $650/month....you should run the numbers with your own example and you will see for yourself.
You get the $6500 returned to you at the end of the lease, and as noted above, you are getting a reduction in the interest charge component of the lease. You don't accrue interest.
Additionally, the MSD reduction is fixed by MBFS. However, the dealer may mark up the MF, so you should know the base rate MF and make sure you have that set before assessing MSD MF reduction.
I am not sure what the 48 month program looks like, but the 36 month program has a residual of 57% and money factor of .00131.
This compares with 70% and .00131 for the 24 month program.
This means that Mercedes-Benz finance is saying the depreciation per month for the 24 month program is almost the same as the 36 month program, which is pretty amazing.
If you can get a sale price of about $3,500 or more below MSRP, including any incentives and down payment, the 24 month program actually becomes cheaper than the 36 month program, all else being equal.
This makes the 24 month program better overall and the reason why MBFS is advertising the 24 month program.
That is a very complete and cogent explanation. You should be teaching at the Wharton School of Finance Thanks.
Another question regarding selecting accessories and negotiating sale price.
I assume it's best to buy out of dealer's inventory to get the best sales price, however what if they do not have the car you want? Dealer told me that there are several additional charges like transporting the vehicle if he gets the car from another dealer.
At what point does it make sense to special order? I find that I am being presented with vehicles that do not meet my basic specs or I get my specs but with $1-2,000 of unwanted options. I don't really want a heated back seat, rear A/C, or rear AV system. The only ones riding in back are the dogs and they want messaging seats! Not going to happen puppies!
Is it as simple as (cost of unwanted options - special order charge) with zero being a wash or is there something more I should consider?
Will USAA or AMEX deals work with special orders?
I assume that all the lease terms MF RV MSD remain the same if I lease out of inventory or special order. Is that correct?
Hi gunss. In January Mercedes-Benz Finance's buy rate lease money factor and residual value for a 36-month lease of a 2012 GL 450 with 15,000 miles per year are .00131 and 55%, respectively for consumers who qualify for its top credit tier.
This month there is $2,000 conquest cash on this truck.
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Hi lan_rover. I don't believe that Mercedes is currently providing any lease support on the GL 350 or GL 550, just the 450. As a result, if you were to lease either of these trucks through Mercedes-Benz Financial right now, you would have to use its standard lease program. The last time I checked, MB Finance's standard buy rate lease money factor was .00225 for consumers who qualify for its Tier 1 credit tier, but this may vary by region.
The residual values for these trucks are as follows:
'12 GL 350: 67% for 24 months, 62% for 30 months, and 58% for 36 months.
The numbers for the GL 550 are 63%, 57%, and 52%.
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Hi btrent. Mercedes-Benz Finance's January buy rate lease money factor and residual value for a 36-month lease of a 2012 GL 450 with 12,000 miles per year are .00131 and 57%, respectively for consumers who qualify for its top credit tier.
The numbers for an otherwise identical 48 month lease are .00131 and 49%.
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Hi lan_rover, I can't address all your follow-on questions, but my two rupees are delineated below. - The RV and MF (and MSD if applied) are identical for a truck in inventory vs. special order as these variables solely depend on the vehicle, lease term, and mileage. There is likely one caveat. The values of MF and RV may change month to month, so its plausible that if you special order a GL today and it arrives in March, your monthly lease would be calculated on the March values for RV and MF. I think you would have to discuss with your dealer. - I suspect that its better to take a truck out of inventory as the dealer would likely have more room to negotiate on sales price vs. one that is special ordered or sourced from another dealer. We have been fortunate to have a good rapport with our MB dealer, so while we haven't special ordered, we have specified the cars with options of interest which are typically models that would likely sell if we didn't purchase/lease.
Perhaps an option to contemplate is the European delivery program although I'm not sure if applies to lease. While the sales price discount is fixed, and you likely won't get the best financial deal vs. taking a car from inventory, you do get exactly what you want along with a memorable trip through Europe. You should consult with your dealer.
I hope this helps. And, as an aside, I'm a Haas b-school alum
Hi btrent. How did the dealership near you just get new 2011 GLs? Did they swap for them? Mercedes certainly isn't making 2011 models any longer.
Mercedes-Benz is not providing lease support on 2011 models any longer. As a result, if you really want to lease I suspect that you would be better off going with a 2012 model.
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@dewars - Thanks for all your help. Now to find the right vehicle and negotiate! Don't know if it will happen this month, but dealers seems to be very anxious the last few days. We will see if they come up with something good.
@Car man, Do you have the february lease numbers for a GL350 and GL450? Need 24, 33, 36 month/12k miles MF and Residual? Are there any discount programs available (ie USAA , Amex, etc) that I should look at? Do you know the MSD and "one-payment" discounts?
I certainly do lan_rover. Mercedes-Benz Financial's February buy rate lease money factor and residual value for a 24-month lease of a 2012 GL 450 with 12,000 miles per year are .00131 and 70%, respectively for consumers who qualify for its top credit tier.
The numbers for an otherwise identical 33-month lease would be .00131 and 61%.
The 36-month numbers would be .00131 and 57%.
Mercedes-Benz is not currently providing any lease support on the GL 350, so if you were to lease one through MB Finance you would have to use its standard lease money factors. Its 12,000 mile per year residual values would be 69%, 64%, and 60%.
Mercedes is currently providing a $2,000 conquest cash incentive on this truck to current owners of select luxury vehicles.
The last time that I checked, MB Financial's MSD discount was .00007 per deposit and its pre-paid lease reduction was .00110, but I haven't looked into them in a while.
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I was quoted a one-pay MF of (.00131 - .0008) or 0.00051. Info on the site has quoted 0.0008 as the one-pay discount in the recent past. Is the 0.00110 you mention accurate for February?
I'm negotiating and need to know which is the right rate.
I thank all of you in advance for any advice you can give me on my first time lease. Special order GL450 with all packages P1, P2, light, sound, leather, 20" wheels etc., website build price $77,215. I received the first doc showing cap cost $73,791, Agreed Price $72,600, Cash down $4,223, 24 months, 10,000 miles. I think I'm getting the competitor conquest money because I own a Porsche. The monthly price is $967. Okay, good, terrible? And what about all the extras: "wheel and tire", "ScotchGuard", "dent armor", "LoJack"? I have a big dog who will be riding in the second or third row. Thanks again for any advice.
Hey lan_rover. The .00131 money factor that I mentioned is definitely right...I just not sure about the one-pay reduction because I haven't looked into it in a while. It is very possible that the reduction was reduced to .00080.
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Looking for help! Looking at a 2012 GL 450 and I was negotiating for a little bit before I had to leave but this is where we left off..the plan is to come back Monday, I am a little upset bc i feel like i wasnt getting a good deal at all..may look elsewhere..here's where I left off
MSRP 71,510 Sales Price 67,900 1k for conquest (already was lied to here-should be 2k) 39 mo lease 12k miles / year money factor was .00162 (I know this is bottom lined at .00131 - difference is about 30 bucks a month - not as worried about this as much as the sales price of the car) taxes 6%
Monthly payment was roughly $850/month - clearly i should be able to get the other 1k for the conquest and I can probably get a better deal on the actual price of the vehicle...looks like the smartest route is 24 months..where should i go from here? Is the sales price of the car what is killing me the most here? seems like it to me...If so, how much better should I strive for? What is realistic at least? 64,000?
by the way, I was negotiating blindly! so dont laugh too hard..I didn't find this very helpful thread 'til after I got home!
Sounds like a good deal. I was offered this over the phone in Indy: 450 with Prem I, Blind Spot, Parktronic, Heated Steering Wheel and Appearance Pckg.
MSRP $72,230 Sale Price $68,950 (Reduction of $5,350) Term: 24 month Mi: 15,000 $753 a month including 7% tax $6k due at signing
Its their second offer. Not really looking until May when current lease is up. I'm not eligible for conquest.
Please advise on 2012 Accord SE. MSRP $24700 (incl destination/handling). What should I expect for the Cap Cost, Fees, Residual, and Money Factor? We are looking at 36mo, 12k mileage. If you could break down the fees for me, I would be grateful. Dealer was saying something crazy, like tax $717, tag $118, documentation fee $499. We live in Charlotte, NC.
Greetings isha1. This particular discussion is for community members to talk about leasing a Mercedes-Benz GL. Please post any questions that you have about the Honda Accord over in the Honda Accord Lease Questions discussion.
Thanks. See you over there.
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Hi stevesd. Mercedes-Benz Financial's March buy rate lease money factor and residual value for a 24-month lease of a 2012 GL 450 with 12,000 miles per year are .00140 and 70%, respectively for consumers who qualify for its top credit tier.
The numbers for an otherwise identical 36-month lease are .00140 and 57%.
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Sure nlproductions. Mercedes-Benz Financial's April buy rate lease money factor and residual value for a 24-month lease of a 2012 GL450 with 15,000 miles per year are .00140 and 68%, respectively for consumers who qualify for its top credit tier.
Mercedes is not providing any lease support on the GL350 right now. So if you want to lease one through MB Finance you would have to use its standard lease money factor and a 67% residual value.
If you were to lease with only 12,000 miles per year, these trucks' residual values would be 2% higher.
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I just got around to requesting a quote from a dealer who provided everything except he MF. When I backed the MF out of the prodided info, it was in excess of 0.0026?
I just picked up a 2012 GL 450 MSRP $72,230. lease for 24 months 10k miles per year. Total drive offs $2500 total payment $589.00 includes southern California sales tax. What do you think of this deal. It seams they are really motivatedntonget rid of these of the lots. was told new 2013 are going to hit the lots late July early August. I did not have any fleet or USAA discount. This deal was just a straight transaction. Let me know your thoughts and good luck.
Your deal is really good, but wait one more month and better deals will be available for tough negotiators. USAA means nothing. It's a scam. Same as Costco discount. You are always better on your own, knowing latest deals and discounts. Congratulations.
If I can get that deal in Dallas - I would lease 2 for the heck of it. for 24 months total cost of $16636 including taxes and interst the residual value of tha car must be at least 80% Here in Dallas - the cheapest one and drive out for that car is $1000 a month or more
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Wanna lease a GL 450 for my wife and new born baby, still confused about money factor and residual value.
Please help me out.
Got an offer from columbus ohio, one-pay lease for 24 month, total 19000. Is this a good deal or not? Any trick for one pay or normal lease, which will be 2k more for the total.
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I'm not sure I understand what you mean by price? Sales price of the vehicle? Remember, you still have to negotiate the sales price of the SUV as you would if you were purchasing the GL, and you should include all incentives and rebates in addition to the price reduction you secure with the dealer. The calculations would be as follows,
Monthly Depreciation = (Negotiated Sales Price - (RV*MSRP))/Lease Term
Monthly Interest Charges = (Cap Cost + RV*MSRP)*MF
Monthly Lease (pre tax) = Monthly Depreciation + Monthly Interest Charges
*N.B.: Cap Cost assumes Negotiated Sales Price + Acquisition fee (i.e., no cap cost reduction or $0 down)
MSD is a 'finicky' calculation. Each security deposit is roughly the pre-tax monthly payment as calculated when using the original MF (i.e., MF prior to reducing it by 0.00070). So let's assume the monthly lease prior to MSD is ~$650. You would write a check to MBFS for $6500 (10x$650) for the MSD. Remember, you get this money back at the end of the lease term, but you get significant reduction in monthly interest charges per the equations above.
Not all sales people nor their managers are familiar with MSD, so you may have to educate them or have them speak with MBFS directly in your presence. Savvy finance folks at the dealership should be aware.
Cheers!
Based on your numbers along with an assumed acquisition fee of $875 that I included in the cap cost, I calculated a pre-tax monthly payment of $694. I hope this helps.
Cheers!
Also is the MSD MF discount a negotiable item for the dealer or is it set in stone by MBFS.
@lex13 - Regarding January discounts, I've been told that the Conquest discount has been reduced from $4k to $2k. This was from a salesperson at a MB dealer -- don't know if it is true. AMEX and USAA may still be going.
Have not been able to get leasing numbers yet. So if anyone has MF RV numbers please share.
Money Factor and residual are the same as last month, at least on the 24 month program.
MF is .00131 and residual is 68% for 15k miles per year (71% for 10k miles per year).
However, as indicated above, Conquest Cash has gone down to $2,000 from $4,000. This makes the payment roughly $100 more per month this month as compared with last month on an otherwise similar deal.
Also, dealers are probably a lot less likely to discount that much since it is not the end of the month and end of the year.
The correct way to calculate the MSD, as specified by MBFS, is to calculate the monthly payment without MSD's, round that number up to the nearest $50 and that's the amount of each security deposit. This is what was done when we leased my wife's E350 bluetech. I can't tell you what your dealer will do...most have no idea about Multiple Security Deposits at all so you may have to have them speak with MBFS in your presence.
Returning to my example, lets assume that your monthly payment without MSD is ~$650/month. As a result, the total MSD would be $6500 and in exchange for giving MBFS $6500, you would get a 0.00070 reduction in MF (~2% reduction in interest charges). The dealer would then calculate your monthly lease payment based on this new MF. Whatever that number amounts to (+ tax) is what you would pay, and I can assure you that it is significantly less than $650/month....you should run the numbers with your own example and you will see for yourself.
You get the $6500 returned to you at the end of the lease, and as noted above, you are getting a reduction in the interest charge component of the lease. You don't accrue interest.
Additionally, the MSD reduction is fixed by MBFS. However, the dealer may mark up the MF, so you should know the base rate MF and make sure you have that set before assessing MSD MF reduction.
Cheers!
I am not sure what the 48 month program looks like, but the 36 month program has a residual of 57% and money factor of .00131.
This compares with 70% and .00131 for the 24 month program.
This means that Mercedes-Benz finance is saying the depreciation per month for the 24 month program is almost the same as the 36 month program, which is pretty amazing.
If you can get a sale price of about $3,500 or more below MSRP, including any incentives and down payment, the 24 month program actually becomes cheaper than the 36 month program, all else being equal.
This makes the 24 month program better overall and the reason why MBFS is advertising the 24 month program.
That is a very complete and cogent explanation. You should be teaching at the Wharton School of Finance
Another question regarding selecting accessories and negotiating sale price.
I assume it's best to buy out of dealer's inventory to get the best sales price, however what if they do not have the car you want? Dealer told me that there are several additional charges like transporting the vehicle if he gets the car from another dealer.
At what point does it make sense to special order? I find that I am being presented with vehicles that do not meet my basic specs or I get my specs but with $1-2,000 of unwanted options. I don't really want a heated back seat, rear A/C, or rear AV system. The only ones riding in back are the dogs and they want messaging seats! Not going to happen puppies!
Is it as simple as (cost of unwanted options - special order charge) with zero being a wash or is there something more I should consider?
Will USAA or AMEX deals work with special orders?
I assume that all the lease terms MF RV MSD remain the same if I lease out of inventory or special order. Is that correct?
This month there is $2,000 conquest cash on this truck.
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The residual values for these trucks are as follows:
'12 GL 350: 67% for 24 months, 62% for 30 months, and 58% for 36 months.
The numbers for the GL 550 are 63%, 57%, and 52%.
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The numbers for an otherwise identical 48 month lease are .00131 and 49%.
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I can't address all your follow-on questions, but my two rupees are delineated below.
- The RV and MF (and MSD if applied) are identical for a truck in inventory vs. special order as these variables solely depend on the vehicle, lease term, and mileage. There is likely one caveat. The values of MF and RV may change month to month, so its plausible that if you special order a GL today and it arrives in March, your monthly lease would be calculated on the March values for RV and MF. I think you would have to discuss with your dealer.
- I suspect that its better to take a truck out of inventory as the dealer would likely have more room to negotiate on sales price vs. one that is special ordered or sourced from another dealer. We have been fortunate to have a good rapport with our MB dealer, so while we haven't special ordered, we have specified the cars with options of interest which are typically models that would likely sell if we didn't purchase/lease.
Perhaps an option to contemplate is the European delivery program although I'm not sure if applies to lease. While the sales price discount is fixed, and you likely won't get the best financial deal vs. taking a car from inventory, you do get exactly what you want along with a memorable trip through Europe. You should consult with your dealer.
I hope this helps. And, as an aside, I'm a Haas b-school alum
Cheers!
MB dealership near me just got several 2011 450s.
Mercedes-Benz is not providing lease support on 2011 models any longer. As a result, if you really want to lease I suspect that you would be better off going with a 2012 model.
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BTW, Haas is great. I'm W and CFA.
Thanks
The numbers for an otherwise identical 33-month lease would be .00131 and 61%.
The 36-month numbers would be .00131 and 57%.
Mercedes-Benz is not currently providing any lease support on the GL 350, so if you were to lease one through MB Finance you would have to use its standard lease money factors. Its 12,000 mile per year residual values would be 69%, 64%, and 60%.
Mercedes is currently providing a $2,000 conquest cash incentive on this truck to current owners of select luxury vehicles.
The last time that I checked, MB Financial's MSD discount was .00007 per deposit and its pre-paid lease reduction was .00110, but I haven't looked into them in a while.
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Thanks for all your help here. I had a quick question, what was the RV for 10k mi/yr? I assume 71%?
I'm negotiating and need to know which is the right rate.
0.00131 - 0.0008 = 0.00051 or 0.00131 - 0.00110 = 0.00021
Great site!!
Thanks
Sincerely,
Patrick
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MSRP 71,510
Sales Price 67,900
1k for conquest (already was lied to here-should be 2k)
39 mo lease
12k miles / year
money factor was .00162 (I know this is bottom lined at .00131 - difference is about 30 bucks a month - not as worried about this as much as the sales price of the car)
taxes 6%
Monthly payment was roughly $850/month - clearly i should be able to get the other 1k for the conquest and I can probably get a better deal on the actual price of the vehicle...looks like the smartest route is 24 months..where should i go from here? Is the sales price of the car what is killing me the most here? seems like it to me...If so, how much better should I strive for? What is realistic at least? 64,000?
by the way, I was negotiating blindly! so dont laugh too hard..I didn't find this very helpful thread 'til after I got home!
Is the 4k winter special over?
I noticed a USAA special-im not familiar w this one.
Right now all I have is the conquest incentive, is MB currently offering anything else that I should know of? Thanks
MSRP: $71510 (P1, Appearance Pkg, Blind Spot, Heated Steering, PARKTronic, Trailer Hitch)
Selling: $65900
MF: .00051
RV: 71%
Term: 24
Monthly: $738/mo (including 7% tax)
Due @ Signing: $19240
What do you think? I put a deposit, but I need to know by tomorrow if its good or not. Also, I am not qualified for conquest rebate.
Any help would be greatly appreciated!
MSRP: $71510
Sale: $64306 (includes $1500 Employee Fleet Discount)
Term: 24 mon
Mi: 12000/yr
RV: 70%
MF: .00121 (Autopay discount: .00010)
Monthly: $788/mo (7% tax inclusive)
Due @ Signing: $2500. (Inception fees only)
Would do you all think?
MSRP $72,230
Sale Price $68,950 (Reduction of $5,350)
Term: 24 month
Mi: 15,000
$753 a month including 7% tax
$6k due at signing
Its their second offer. Not really looking until May when current lease is up. I'm not eligible for conquest.
Thanks. See you over there.
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What's the current buy rate MF and residual for a 2012 GL450 12k/year lease for both 24 and 36 months?
Thanks!
The numbers for an otherwise identical 36-month lease are .00140 and 57%.
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Can you provide the MBFS current (April 2012) money factor and residual for:
1. A 24 month lease (@12k/yr and 15k/yr) of a GL450, and
2. A 24 month lease (@12k/yr and 15k/yr) of a GL350.
Thanks!
Mercedes is not providing any lease support on the GL350 right now. So if you want to lease one through MB Finance you would have to use its standard lease money factor and a 67% residual value.
If you were to lease with only 12,000 miles per year, these trucks' residual values would be 2% higher.
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Are the May 2012 Rates the same.
I just got around to requesting a quote from a dealer who provided everything except he MF. When I backed the MF out of the prodided info, it
was in excess of 0.0026?
Thanks!
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thanks
for 24 months total cost of $16636 including taxes and interst
the residual value of tha car must be at least 80%
Here in Dallas - the cheapest one and drive out for that car is $1000 a month or more
Thanks for sharing, can you tell me which dealer give you that deals, I am going to return my ML and lease the GL,
thanks
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Please help me out.
Got an offer from columbus ohio, one-pay lease for 24 month, total 19000. Is this a good deal or not? Any trick for one pay or normal lease, which will be 2k more for the total.
Appreciated!!!