Last post on May 25, 2013 at 12:30 PM
You are in the Prices Paid - Buying & Leasing Experiences
What is this discussion about?
Mercedes-Benz E-Class, Sedan, Wagon
#1020 of 1946 Re: 2011 E in Houston [ukiddenme]
Sep 02, 2011 (7:44 pm)
You certainly made the right decision in my book.
I just turned in a 2011 M37 after 13 months on a 39 month lease because I really disliked the way the car drove (transmission) and the growling sound of the car with the windows open.....and I got a great deal on a 24 month lease of a 2011 e350 BlueTec. I am MUCH happier with the Benz....it's more comfortable, it rides beautifully, it's fast enough (even the diesel).
Incidentally, with no money down on either lease and taking the maximum multiple security deposits on each lease, I am paying less per month for the $60K Mercedes on the 24 month lease then I was paying monthly on my 39 month lease of the M37.
I also drove the 535i and it just didn't work for me.
#1021 of 1946 Re: 2011 E in Houston [ghstudio]
Sep 03, 2011 (2:27 pm)
Just purchased 2011 E350 - sticker $56,495, final price $46,000 and they threw in window tint and Service A. Also gave us 1.99 financing for 5 years. Thanks for all of the great info on the board, made negotiations quick and painless!!
#1022 of 1946 Re: 2011 E in Houston [reh4]
Sep 03, 2011 (2:48 pm)
Wow, that's great deal. Did you have to use a specific discount(USAA or Conquest)? If you can disclose it, which dealer is it?
#1023 of 1946 Re: 2011 E in Houston [reh4]
Sep 04, 2011 (2:00 pm)
I would like to second the request of steve127. Could you please post how they structured your deal and your discount? A $10.5k discount is great on a $56.5k car! Here in southern California, I have been offered as much as $10.3K off of E350 BT, but it was a $66k car. Unfortunately, the dealer tried to mark up the acquisition fee to $1095, and to "pack" the money factor. So, I walked from the deal.
#1024 of 1946 Re: 2011 E in Houston [alexanderv]
Sep 04, 2011 (6:22 pm)
That evil dealer....trying to make a few bucks on a $66k car.....
#1025 of 1946 Re: 2011 E in Houston [alexanderv]
Sep 05, 2011 (7:04 am)
My dealer also charged $1095 for the acquisition fee, but they had a new 2011 bluetec in stock (rare around here) with the options and colors I liked and the 2012 nav system (comand 4.5) and new dash (apparently a running change included in cars built in late June or July)... and they gave me a good enough deal that I took it. They didn't play with the money factor, and I took the max 10 multiple security deposits to buy it down.
Who would think you could lease a $59000+ 2011 e350 BlueTec sedan with Premium 2 and some other doodads for two years, 12K miles/yr for under $500 per month (plus tax) with no money down at closing other than the security deposits which I get back at the end of the lease.
Sometimes you just have to eat those dealer fees.....
#1026 of 1946 Thanks to the Forum
Sep 05, 2011 (8:19 am)
The experiences detailed on this forum enabled me to make a well informed decision in the purchase / lease of a new mercedes. After getting up to date on true prices, incentives, current MFs, and specific dealer experiences I used the edmunds.com dealer messaging service under the research tab to get the ball rolling on my search for a new 2011 e-350 as a gift for my wife after discussing the important aspects of a hypothetical purchase with her (e.g., color) (LOL). Also, I have traditionally purchased the ending model this time of year so I also received a fair amount of inquiries from previous dealers and salesmen I have done business with. Maybe I am getting a bit jaded after years of car purchases. Buying the ending model year is the best way to go as I can't justify spending an extra 20% on the new model year for a few more HP/FPT.
Although they did not have the largest inventory selection the most professional response (read as no BS or games) that I received was from the Long Beach based Mercedes dealership. I found a car online and discussed the specifics with the hardest working salesman at the dealership. He is an ex-Marine from 2 decades ago and still has that excellent work ethic. I made an appointment to come in the next morning and found the car prepped and ready to go.
Now for the specifics:
2011 e350, palladium silver with P1 including destination
Dealer Invoice $51,707
Less Conquest and Loyalty Cash ($4000 +$2050)
Price $45,657 (83% of MSRP - anything better than 85% of MSRP is a green light to me)
After reading the posts over the last two weeks or so I decided on a 33 month lease 12,000 mi/yr.
This equated to a 64% residual at a MF of .00192 (approx. 4.6% I/yr) for Tier 1 credit through MB Financial as of September 2, 2011. I had quotes for better MF but lower residuals from captives and banks with other dealers and a well known leasing company that advertises nationally but this was the combination that I liked the best.
MB Financial and MBLB charges a $795 acquisition fee (capitalized = residualized at 64%) which brought the total gross capitalized cost to $46,452.
At that rent and depreciation the base monthly payment is $497.81. After paying Calif tax of 8.75% the total payment is $541.37 with a drive off payment of $1027. I think this is a great deal! Thank you to the forum!
#1028 of 1946 Re: Thanks to the Forum [artsavedme]
Sep 05, 2011 (9:26 am)
Congratulations....that really is a great deal.
Did you use multiple security deposits?
BTW..I believe your statement: MB Financial and MBLB charges a $795 acquisition fee (capitalized = residualized at 64%) which brought the total gross capitalized cost to $46,452....is not correct. The residual value is 64% of the sticker price on the car and does not include the acquisition fee. With or without that fee rolled into the lease, the residual stays the same. The agreed upon price changes. You pay the difference between the agreed upon price and the residual value in your monthly payments...or said another way, you are paying the full $795 over the 36 months of the lease. However, that doesn't change the fact that you got a very good deal....
#1029 of 1946 Re: Thanks to the Forum [ghstudio]
Sep 05, 2011 (10:05 am)
Now that I think about it I believe that you are right. I was reading off of the MB Financial contract line item, however that would not make sense as the residual is a percentage of the MSRP not the total gross capitalized cost. However, I am happy about the deal and no I did not buy down the MF with deposits. The small incremental savings in payment doesn't justify the opportunity cost associated with the non-interest bering deposit. I'd much rather put the money into a stock that drops 20% in value before you get the brokerage confirmation (LOL).
Thanks again for the market intelligence.