Questions about a C300 lease

Comments

• kyfdx Moderator Posts: 236,702

  March 2016

  fperez_14 said:

  Hi,
  
  I first want to say I have learned a lot in this forum, I have leased about 6 cars and always thought I knew what I was doing until I came across this forum. so thank you!
  
  I currently have a G37 lease and have my last payment to make in about 3 weeks. Went to Mercedes-Benz and they are giving me this deal for a C300 RWD fully loaded, sports package, AMG body style, etc...
  
  Vehicle price: $50,455
  AutoNation discount: $5,664.60
  Remaining payment: $420
  Price: $45,210.40
  
  Taxes: $2,760.94
  Tag: $324
  Tire/battery MVWEA: $6.50
  Dealer fee: $699.95
  
  Total Due: $49,001.54
  
  With $1,500 down 36K, 12k Miles, payments of $599.month.
  
  My question is, is this a good deal? and also, should I wait until I have no more payments on my current lease?
  
  

  Which state is this? Is it a state where they charge taxes on a lease upfront?
  
  Are they making your last payment, then you have to still turn in the car, yourself? If that's the case, then they are doing you no favors, especially since they are adding the payment on to the cost of the new car.

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• fperez_14 Member Posts: 7

  March 2016

  Hi this is in south Florida and yes, they will take the car I won't have to turn it in.

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• kyfdx Moderator Posts: 236,702

  March 2016

  fperez_14 said:

  Hi this is in south Florida and yes, they will take the car I won't have to turn it in.

  Okay... the tax they quote is irrelevant, as Florida taxes the monthly payment. The dealer fee isn't irrelevant, however, and ridiculous. But, typical for Florida.. Also, the MBFS acquisition fee is $795 (not mentioned in your quote).
  
  .00152 MF and 62% residual.
  
  Assume CAP cost is $47,035 (price + tags/fees + acq.fee), then payment should be $557/mo.+tax.
  
  Florida tax at 7%? Then, $595/mo., with just 1st payment upfront. Looks like they are about $1000 over that. I'd guess acquisition fee marked up by $300 (max allowed) and MF marked up, as well.
  
  Ask them for the adjusted CAP cost and money factor.

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• fperez_14 Member Posts: 7

  March 2016

  they say the MF is 0.00182

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• Michaell Moderator Posts: 240,978

  March 2016

  fperez_14 said:

  they say the MF is 0.00182

  So, that is marked up for a bit of extra profit.
  

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• fperez_14 Member Posts: 7

  March 2016

  so is it a good deal or not really? Havent been able to find a MB dealership in South Florida that has less than 0.00182

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• Michaell Moderator Posts: 240,978

  March 2016

  fperez_14 said:

  so is it a good deal or not really? Havent been able to find a MB dealership in South Florida that has less than 0.00182

  Can you expand your search area to Tampa-St. Pete or Orlando? It only takes one dealer to meet your terms.

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• fperez_14 Member Posts: 7

  March 2016

  ok thank you! I will check on other dealers.

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