Last post on May 24, 2013 at 2:03 PM
You are in the Prices Paid - Buying & Leasing Experiences
What is this discussion about?
Mercedes-Benz E-Class, Sedan, Wagon
#1026 of 1940 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 1940 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 1940 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.
#1030 of 1940 Re: Thanks to the Forum [artsavedme]
Sep 05, 2011 (12:17 pm)
That multiple security deposit would have paid you an effective rate of about 11% on your money and it's guaranteed by Mercedes
Final question....did you buy a BlueTec? That residual seems very high for a gas 2011 e350 unless mercedes significantly raised the residuals in September which is very unlikely.
#1031 of 1940 Re: Thanks to the Forum [ghstudio]
Sep 05, 2011 (1:18 pm)
No BlueTec. 2011 e350 sedan sport. I bumped the residual by going with 33 months rather than 36 months.
Can you show me your math on your 11% effective rate using my deal parameters?
#1032 of 1940 Re: Help with purchase price of 2011 E350 4MATIC (Luxury) [njj1]
Sep 06, 2011 (9:30 am)
#1033 of 1940 Price Paid on 2011 E550 (euro delivery model)
Sep 06, 2011 (8:51 pm)
Wanted to see what you think on the deal for a 2011 E550 euro delivery (i did not choose this type of delivery it was the only E550 around in S. Cal that had an MSRP where I wanted it
Drive Dynamic Comfort Seats with Massage
Price Agreed to 54,340
Money Factor .00245 but did 10 security payments 700 so .00175 (i think they made .00005 on the mf, unless it changed in september)
Monthly payment including CA tax $712
36 month lease
$2,000 at signing (first month, DMV, title etc)
What do you guys think?
#1034 of 1940 2011 E350 4matic Sport
Sep 07, 2011 (8:33 am)
Guys... I am getting ready so sign this deal. Please let me know what you think before I do.
2011 E350 4matic
Folding Rear Seats
Sale Price: $47,715
#1035 of 1940 Re: 2011 E350 4matic Sport [bdewitt]
Sep 07, 2011 (9:08 am)
Looks like a good deal to me. That's about what I paid in June. I had the conquest and a 1500 incentive. If the color is what you want, then grab it. There arent' too many left around.