Yes Michaell you are right and this is what happens when ones heart outruns the mind, we are in love with this car! So 8k includes, 1st installment, DMV costs and taxes, processing fee, bank fee, charge to bring car from another city, prepaid maintenance coverage upto 30k miles. As per them the balance will bring down the selling price. Thanks in advance.
Hey, I get it. I've got car ADD as well (so says my wife).
You're better off rolling everything but the first payment and DMV costs into the lease payment.
What happens if the car is stolen or totaled before the end of the lease? You think the state of Maryland will refund you the sales tax you paid upfront but didn't get use of? Likely not.
And, any money put down would also be lost under the same circumstances.
No we haven't signed the deal yet. They are bringing the car from another state. So I wanted to research and investigate before I sign it. I have these numbers: Selling price $79,032, MF 0.00061, 12k miles, 36 months, Residual 57%, State Maryland. 8k to be used from our trade in. With these specs what should be my monthly installment?. Also if I reduce down to 5k where will the installment be? Thanks a lot for your help. Bless you!
No we haven't signed the deal yet. They are bringing the car from another state. So I wanted to research and investigate before I sign it. I have these numbers: Selling price $79,032, MF 0.00061, 12k miles, 36 months, Residual 57%, State Maryland. 8k to be used from our trade in. With these specs what should be my monthly installment?. Also if I reduce down to 5k where will the installment be? Thanks a lot for your help. Bless you!
And the MSRP?
Every $1000 translates to about $28/mo.
You should be aware that you can have the dealer cut you a check for your trade equity, if you choose not to use it for the deal.
Could you please provide April's residual and MF for 2017 GLS 450 for 36 & 42 months, 10k miles per year? Also, what is the change for 10 payments as multiple security deposits on the MF? Thanks!
Could you please provide April's residual and MF for 2017 GLS 450 for 36 & 42 months, 10k miles per year? Also, what is the change for 10 payments as multiple security deposits on the MF? Thanks!
A related leasing question. I've never leased a car - is the residual based on MSRP, or on your negoitiated price? I'm also considering a used (off-lease) CPO, I should assume the dealer's cost is whatever the residuals at the time of purchase were?
Thanks kyfdx! I have a quote for a 2017 GLS 450 36/12k MSRP $86,270.00 - Savings $4,000.00 - Cap Cost $82,270.00 RES 56%. Tax $5,873.91 (Note: This should be 7% Title Ad Valorem Tax (TAVT) in Georgia.) Dealer Fee - $499, DMV fees - $95 Down Payment - $3,000 Dealer is asking for $1,298.50 as monthly lease payment. Based on link below, https://www.edmunds.com/car-leasing/calculate-your-own-lease-payment.html my calculation brings up a lease payment of $1,128.93 (with MF 0.00071) Does that sound right? -- Thank a lot
Thanks kyfdx! I have a quote for a 2017 GLS 450 36/12k MSRP $86,270.00 - Savings $4,000.00 - Cap Cost $82,270.00 RES 56%. Tax $5,873.91 (Note: This should be 7% Title Ad Valorem Tax (TAVT) in Georgia.) Dealer Fee - $499, DMV fees - $95 Down Payment - $3,000 Dealer is asking for $1,298.50 as monthly lease payment. Based on link below, https://www.edmunds.com/car-leasing/calculate-your-own-lease-payment.html my calculation brings up a lease payment of $1,128.93 (with MF 0.00071) Does that sound right? -- Thank a lot
If $3000 is your total amount due at signing, that's not all down payment. Have to take out first payment and acquisition fee ($795). That only leaves $900 for CAP reduction. If I add up your charges, then subtract $900 for an adjusted CAP cost of $87,838, that results in a payment of about $1195/mo.
There is a very good chance they are marking up the money factor and the acquisition fee ($1095 max with markup).
Ask for the actual adjusted CAP cost and the money factor used with that quote.
>> If $3000 is your total amount due at signing, that's not all down payment. Here is updated information. Monthly lease payment = 1,272; MF is quoted as 0.03% Minimum Payment due at signing = $1,272 + $499 dealer fee + $95 DMV fees = 1,866 I will ask for Actual Adjusted Cost tomorrow. Thanks
>> If $3000 is your total amount due at signing, that's not all down payment. Here is updated information. Monthly lease payment = 1,272; MF is quoted as 0.03% Minimum Payment due at signing = $1,272 + $499 dealer fee + $95 DMV fees = 1,866 I will ask for Actual Adjusted Cost tomorrow. Thanks
Money factors aren't percents. And, it wouldn't be 0.03%, either way
The base MF is .00071 The money factor they are using should be in that format.
Are you sure it is an actual lease and not a balloon note?
>> If $3000 is your total amount due at signing, that's not all down payment. Here is updated information. Monthly lease payment = 1,272; MF is quoted as 0.03% Minimum Payment due at signing = $1,272 + $499 dealer fee + $95 DMV fees = 1,866 I will ask for Actual Adjusted Cost tomorrow. Thanks
Money factors aren't percents. And, it wouldn't be 0.03%, either way
The base MF is .00071 The money factor they are using should be in that format.
Are you sure it is an actual lease and not a balloon note?
It is an actual Lease. There are no fees added to $82,270 other than GA Ad Valorem Tax + $499 dealer fee + $95 DMV fees. I am guessing that MF quoted (as 0.03%) is actually 3.0% APR relating to 0.00125. Because with that MF, I am able to compute the lease payment close to $1,272. Thanks
do the MF and residuals vary by State? What is the May 2017 base MF and Residual for New York for GLS 450 for the following:
10K/36 10K/42 12K/36 12K/42
Thank you!
Mercedes lease numbers are national.
.00071 MF and 56%/53% residual for 36/42 mo, 12K/yr Add 1% for 10K/yr
thank you. Do you know what incentives MB is offering that can help reduce the MSPR. These would be MB incentives and not the negotiated price with the dealer. ty.
do the MF and residuals vary by State? What is the May 2017 base MF and Residual for New York for GLS 450 for the following:
10K/36 10K/42 12K/36 12K/42
Thank you!
Mercedes lease numbers are national.
.00071 MF and 56%/53% residual for 36/42 mo, 12K/yr Add 1% for 10K/yr
thank you. Do you know what incentives MB is offering that can help reduce the MSPR. These would be MB incentives and not the negotiated price with the dealer. ty.
Just came back from a Chicagoland dealer : 2017 GLS-450 MSRP 81,300 Discount 6830 (8.4%) + 1,000 Fleed Discount (I think in the form of Rebate).
Price = 73,470 42 month / 10K (IL tax 7.25% on lease amt) I told them I will not sign unless it had .00071 MF My own calculdation leads to 867 (54% RV) but they insist on 900 / month. I tried to get an explanation the salesperson came back "You are getting our best deal and we don't like it that much so Take it or Leave as is"
Am I doing something wrong or are they trying to charge a higher acquisition fee ? or an inflated MF to make up for the discount ?
Just came back from a Chicagoland dealer : 2017 GLS-450 MSRP 81,300 Discount 6830 (8.4%) + 1,000 Fleed Discount (I think in the form of Rebate).
Price = 73,470 42 month / 10K (IL tax 7.25% on lease amt) I told them I will not sign unless it had .00071 MF My own calculdation leads to 867 (54% RV) but they insist on 900 / month. I tried to get an explanation the salesperson came back "You are getting our best deal and we don't like it that much so Take it or Leave as is"
Am I doing something wrong or are they trying to charge a higher acquisition fee ? or an inflated MF to make up for the discount ?
Ask the dealer what the adjusted cap cost is - and, how they got to that number from the selling price you've shared.
IL taxes the sum of the payments - if you are not paying them up front, they are added into the cap cost, which then subjects them to interest.
Comments
You're better off rolling everything but the first payment and DMV costs into the lease payment.
What happens if the car is stolen or totaled before the end of the lease? You think the state of Maryland will refund you the sales tax you paid upfront but didn't get use of? Likely not.
And, any money put down would also be lost under the same circumstances.
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If so, congrats! And, don't lose sleep over this. Enjoy the car.
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Every $1000 translates to about $28/mo.
You should be aware that you can have the dealer cut you a check for your trade equity, if you choose not to use it for the deal.
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Thanks so much for your kind help
No 39 month program available from MB
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I'm shopping for 2017 GLS 450 .. what is the best lease rate, MF, residual value available for Houston, TX ?
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Don't have the details on Mercedes MSD program.
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Thank you.
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Thank you very much.
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I have a quote for a 2017 GLS 450
36/12k
MSRP $86,270.00 - Savings $4,000.00 - Cap Cost $82,270.00
RES 56%.
Tax $5,873.91
(Note: This should be 7% Title Ad Valorem Tax (TAVT) in Georgia.)
Dealer Fee - $499, DMV fees - $95
Down Payment - $3,000
Dealer is asking for $1,298.50 as monthly lease payment.
Based on link below,
https://www.edmunds.com/car-leasing/calculate-your-own-lease-payment.html
my calculation brings up a lease payment of $1,128.93 (with MF 0.00071)
Does that sound right? -- Thank a lot
Have to take out first payment and acquisition fee ($795). That only leaves $900 for CAP reduction.
If I add up your charges, then subtract $900 for an adjusted CAP cost of $87,838, that results in a payment of about $1195/mo.
There is a very good chance they are marking up the money factor and the acquisition fee ($1095 max with markup).
Ask for the actual adjusted CAP cost and the money factor used with that quote.
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Here is updated information.
Monthly lease payment = 1,272; MF is quoted as 0.03%
Minimum Payment due at signing = $1,272 + $499 dealer fee + $95 DMV fees = 1,866
I will ask for Actual Adjusted Cost tomorrow.
Thanks
The base MF is .00071
The money factor they are using should be in that format.
Are you sure it is an actual lease and not a balloon note?
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Can you give me the MF and residual for a GLS450, 36000 miles, 3 years, in Texas?
Thanks!
I am guessing that MF quoted (as 0.03%) is actually 3.0% APR relating to 0.00125. Because with that MF, I am able to compute the lease payment close to $1,272.
Thanks
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10K/36
10K/42
12K/36
12K/42
Thank you!
.00071 MF and 56%/53% residual for 36/42 mo, 12K/yr
Add 1% for 10K/yr
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MSRP 81,300
Discount 6830 (8.4%)
+ 1,000 Fleed Discount (I think in the form of Rebate).
Price = 73,470
42 month / 10K (IL tax 7.25% on lease amt)
I told them I will not sign unless it had .00071 MF
My own calculdation leads to 867 (54% RV) but they insist on 900 / month.
I tried to get an explanation the salesperson came back
"You are getting our best deal and we don't like it that much so Take it or Leave as is"
Am I doing something wrong or are they trying to charge a higher acquisition fee ?
or an inflated MF to make up for the discount ?
IL taxes the sum of the payments - if you are not paying them up front, they are added into the cap cost, which then subjects them to interest.
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