- #1833 of 2062
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Re: Lets get some 2007 S550 owners talking! [topspin628]
by mikespopworld
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Sep 14, 2006 (4:38 am)
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Replying to: topspin628 (Sep 11, 2006 7:17 pm)
Sure, it was a 27 month lease, 73% residual, .0039 money factor(about 9.36%, very high, yes) and 10k miles per year. MSRP was 95.7k, including a 1k gas guzzler tax, and I got approx. a 3k discount off the MSRP, brought 6k to the table, about 1k of that 6k went to bank/registration/document fees, and I ended up with a monthly payment of 1450 a month including taxes. I also get clipped with a 595.00 return the car fee at the end of the lease which i failed to catch during the negotiations. I will pay for two oil changes and a front brake pad change at 20,000 miles, but should not get to the 30k rear brake pad change. I estimate all in money for the 27 months, taxes, doc/bank fees, return car fee and not including maintenance to be about 45k.
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- #1834 of 2062
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Re: Lets get some 2007 S550 owners talking! [mikespopworld]
by topspin628
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Sep 14, 2006 (1:23 pm)
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Replying to: mikespopworld (Sep 14, 2006 4:38 am)
Thanks, after you get some miles on it, I'd love to hear your review. I'm drooling over that car.
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- #1835 of 2062
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Re: Lets get some 2007 S550 owners talking! [topspin628]
by gusb1
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Sep 22, 2006 (10:33 am)
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Replying to: topspin628 (Sep 14, 2006 1:23 pm)
For the S550, my dealership is suddenly offering $1,000 over invoice and buy rate (currently 00375)for a lease. This seems to be a good deal...? Dealer claims it's just because times are tough, but does anyone know if something different is planned for the 08 model years? Does this sound like a good deal? They didn't tell me about the 27 month 72% residual...
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- #1836 of 2062
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Re: Lets get some 2007 S550 owners talking! [gusb1]
by mikespopworld
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Sep 23, 2006 (10:25 am)
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Replying to: gusb1 (Sep 22, 2006 10:33 am)
$1000 over invoice sounds like a good deal to me. There might be new dealer incentives or the dealer might be moving his RWD stock ahead of the arrival of the 4matics...who knows, but I hope they have a color and option package you like. The .00375 money factor is still very high - about 9%, but combine that with a relatively high residual, like the 27 month 72% residual and it all "averages out". Expect the high residuals to reduce by about 1% a month over time. The money factor is the wild card over time, but with rates falling over the last week or so, maybe they will lower that high money factor. As for the '08, I asked about model changes before I finalized my '07 S550 lease and I was told no major changes over the next few years.
Be aware there seems, in my opinion, to be a large stock of RWD(rear wheel drive) '07's all around the country - I called several large dealers around the country and they all had plenty to choose from, and with the 4matics out in a few months you can count on dealers wanting to move a few at a decent level. Keep us posted!
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- #1837 of 2062
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Re: Lets get some 2007 S550 owners talking! [mikespopworld]
by blckislandguy
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Sep 24, 2006 (5:27 pm)
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Replying to: mikespopworld (Sep 14, 2006 4:38 am)
As you weighed out your financing options, what were your thoughts about buying? Did the 73% residual look to be a lease subsidy? Did you have to lease with MB -and tolerate the high money factor--to get that residual?
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- #1838 of 2062
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2007 4Matic Pricing
by mcaleer
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Sep 25, 2006 (2:44 pm)
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I've ordered a 2007 S550 4Matic and have yet to see a price. The dealer is knocking $2500 off list. Anybody know when the first ones are coming off the line? Certainly, they'll have released the pricing by then! Does the 4Matic come with the 7-speed transmission? I'm also told that the 2007 won't have the hump in the passenger footwell that my 2003 S430 4Matic has - true?
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- #1839 of 2062
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Re: Lets get some 2007 S550 owners talking! [mikespopworld]
by gusb1
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Sep 25, 2006 (8:05 pm)
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Replying to: mikespopworld (Sep 23, 2006 10:25 am)
mikes -- thanks for the input. Is the performance expected to be that different between the RWD and the 4-matics? On the money factor, I thought 9% high also, but if I go to US Bank or elsewhere, the money factor is better but they also lower the residual... My dealer hasn't told me about the 27 month 72% residual -- that sounds like a good one.
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- #1840 of 2062
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Re: 2007 4Matic Pricing [mcaleer]
by merc1
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Sep 25, 2006 (8:53 pm)
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Replying to: mcaleer (Sep 25, 2006 2:44 pm)
Does the 4Matic come with the 7-speed transmission?
Yes.
I'm also told that the 2007 won't have the hump in the passenger footwell that my 2003 S430 4Matic has - true?
True, the new S-Class was engineered from the ground up for 4Matic and the 4Matic system is also brand new and more compact compared to the version in use on every other current Mercedes.
M
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- #1841 of 2062
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Re: Lets get some 2007 S550 owners talking! [gusb1]
by leaseexpert1
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Sep 26, 2006 (10:46 am)
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Replying to: gusb1 (Sep 25, 2006 8:05 pm)
Be careful with the high residuals. Make sure you really want that car! The US Bank MF is .00265 with a residual of 48% on 36 months, they do not offer a 24 or 27 month lease. The payment is $200 higher but if you need to get out of the vehicle early or you want to buy or acquire it at the end of the lease term, you will be $8,000 upside down. The 27 month residual is $9,000 lower than the current auction value of the S550 as of today. Once MBZ takes care of the component problems they are having with the Sports the bottom is going to drop out of the base vehicles. We have an 07 S550 with 17K miles that we own for 70K. I have dealers that are selling the base vehicle at 500 under invoice.
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- #1842 of 2062
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Re: Lets get some 2007 S550 owners talking! [blckislandguy]
by mikespopworld
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Sep 26, 2006 (9:07 pm)
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Replying to: blckislandguy (Sep 24, 2006 5:27 pm)
Buying crossed my mind, but I was not ready to drop over 90k in cash to buy the car outright, and in my mind, even without doing all the math, the lease deal appeared subsidized enough to make leasing the way for me to go and honestly my motivation was really to get a state of the art car for a year or two and then flip into the next newest state of the art car. Ideally if I could have gotten away with a "good deal" on a one year lease I would have done that, but no one offers what anybody would call a reasonable one year lease. With my lease at the end of 27 months I'm out around 44k all in, including all taxes, for a car with a negotiated price of around 93k. So let's say I had the sack to drop 93k in cash on the car and bought it outright - doing the basic math, and using the 7% tax rate here in NJ, that's 93k plus 6.5k in taxes: 99.5k all in - now, let's say 27 months passes and I sell the car, and here's where we have to be realistic - I just checked '05 S500's on ebay and there's about 15 of them and not one is bid over 55k and that bid is for an '05 with 10,000 miles on it with an original MSRP between 85k and 90k, so in my mind the real value of these cars after 27 months is around 65% of the original MSRP at best and more than likely lower(high 50%'s to low 60%'s) once you put 20k-40k miles on the car, but for arguments sake let's use 65%. So say I paid 93k cash for the car (MSRP close to 96k) and using 65% of the original MSRP I get a car worth 62.4k after 27 months, which means I'm out 30.6k (93k-62.4k) PLUS taxes 6.5k(7% NJ state tax on the purchase price of 93k) for a grand total of 37.5k I'm out all in if I sell the car for 62.4k after 27 months - so in this case it beats the lease by about 7k...hmmm. But other things to consider...change the 65% to 58% and you now have a car worth 55.7k after 27 months and that brings your all in costs up to 43.8k, about the same as the lease! Let's face it, nobody knows what the car will actually be worth 27 months from now, could be 68% of msrp, could be 58%, and I'm leaving out the money made by investing most of the 93k instead of spending it on a depreciating asset which is thousands of dollars over 27 months at current short term rates, but in my mind by leasing I took out all the WORRY about depreciation and the HASSLE of selling a used car and MIGHT have gotten a good deal to boot - to be determined 27 months from now when a 96k MSRP '07 S550 with 22k miles goes on Ebay!
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