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Mercedes-Benz CLK-Class, Coupe, Convertible
#118 of 260 Help from Car_Man on buying a new CLK?
Mar 14, 2006 (5:48 pm)
Your posts have helped me buy several cars in the last 12 months! You are a real asset to this site! Hopefully you can help us get the best price on a new CLK350.
My wife would like a new CLK350 with the following options:
Sirius Radio (love that satellite!)
Metallic Paint (Black Obsidian)
Rear side airbags
Lowered Sport Suspension
Run-flat tire package
MSRP: $60,015* (as equipped above)
Invoice $55,869* (as equipped above)
*Includes $775 destination fee.
We will lease the vehicle through Mercedes Benz Financial (formerly Mercedes Benz Credit), this will be the third consecutive lease though them. We have tier 1 credit so we should be able to get the best possible money factor. I have seen 1.9% advertised on 36 month financing, does this apply to leases or should we figure on the .0016 factor?
You listed the residual as being 57% w/ 15,000 miles / year. Using the 15K miles per year year number of 57% (I assume of the MSRP) the vehicle's residual value after either 36 or 39 months would be $34208.55. My wife will never hit 15K miles a year what would the residual be with 12,000 miles / year.
Do you know of any dealer holdbacks or other incentives on these vehicles right now? I believe I saw a $2000 rebate listed somewhere in this forum, if you go through Mercedes Benz Financial.
What else should we be considering on this vehicle lease? I plan on sending our local dealer an offer using the spreadsheet available at Carbuyingtips.com. I want to make sure I don't leave something out that makes me look like a nit-wit.
Thanks in advance Car_Man! I suspect a lot of folks in here owe you some really nice dinners!
#119 of 260 Re: Help from Car_Man on buying a new CLK? [moleary]
Mar 16, 2006 (9:34 am)
From what I understand, money factor is .00300 on cabs, and .00145 on coupes. $2000 Bonus cash is also for coupe only, not cabriolet. MB dealers do get holdback, but don't hold your breath waiting for them to pass that on to you. Generally, Cabriolets sell out every spring, so they don't get discounted too much in many parts of the country. Don't know about residual, maybe 1 or 2% different for 12000 miles??? Maybe someone else knows for sure?
#120 of 260 Re: Help from Car_Man on buying a new CLK? [moleary]
Mar 20, 2006 (3:21 am)
I'm glad that you have found my posts so helpful, moleary. Thanks for the kind words . Mercedes-Benz Financial's current 36 or 39 month buy rate lease money factor for a lease of a 2006 CLK350 Coupe is an attractive .00145. Its has much less support on the Convertible models through. The corresponding 15,000 mile per year residual value for this car is 56%. Its 12,000 miles per year residual value would be 2% higher. Mercedes is providing a $2,000 cash incentive on CLK350 Coupes that are leased or financed through Mercedes-Benz Financial right now. Make sure to take this cash into account when making your offer on this car.
That should answer all of the questions that you asked, but if you think of anything else let me know.
Smart Shopper / Prices Paid Forums
#121 of 260 LEASE VS PURCHASE INTEREST?
Mar 20, 2006 (6:57 am)
CAR_MAN, Under post #15 you indicated the M/F to be .00145.
I went back and looked under Edmunds' incentives for the CLK-350 and found a 1.9 (.0007916) rate.
Using the .0007916 in a basic lease trial run, I could save
about $47.00 a month on this car.
My question: Would MBFS use the .0007916 term instead of the .00145 term. Thanks for putting me square with this interest question.
#122 of 260 Re: Help from Car_Man on buying a new CLK? [Car_man]
Apr 02, 2006 (8:13 am)
Thanks again for the help. Thought you might be interested to know that based on your feedback and my research we opted to extend my wife's current SLK lease for 6 months. Her lease will now expire in December of 06, hopefully that will put us in a better negotiating position.
#123 of 260 Re: LEASE VS PURCHASE INTEREST? [addi]
Apr 04, 2006 (2:29 am)
Hi Addi. Mercedes-Benz has a special financing program on this car that provides 1.9% for up to 3 years, 3.9% for 4 years, and 4.9% for 5 years. Unfortunately these rates can only be used on conventional finance contracts. Mercedes-Benz Finance has a completely different set of rates for leases of this car. For April, its buy rate lease money factor for a 36 month lease of a 2006 CLK350 Coupe is still .00145. This is equivalent to an interest rate of around 3.48%. When negotiating your lease on this car, keep in mind that Mercedes is providing a $2,000 bonus on leases of this car through Mercedes-Benz Finance this month. Make sure to take this cash into account when negotiating your car's capitalized cost.
Smart Shopper / Prices Paid Forums
#124 of 260 Car_Man - Interest Rate Explanations
Apr 04, 2006 (6:45 am)
Many thanks for your clear explanations pertaining to the interests rates concerning leasing vs. purchase.
I have been keeping under the bookmark click a small but very usefull set of info from you so that when I get ready to enter my next lease my knowledge for negotiation time will be set.
I presently lease a 2004 525i BMW. The one area I needed the most help was knowledge about the MF/buy rate. You have very nicely put me square on this very important area. Many Thanks. Addi.
Apr 06, 2006 (8:04 pm)
i am interested in leasing a 2006 Mercedes 350 Convertible for 36 months with
manual transmission preferred, but not a must (are they hard to find?)
How much per month should I expect to pay with minimum driveoff?
How much is the minimum driveoff?
How do I get the best deal and not get screwed when I walk into the dealership?
Thank you in davance.
#126 of 260 CLK 350 Lease
Apr 20, 2006 (6:26 am)
I don't know anything about leasing any help will be highly appreicaited.
The dealar is offering me a CLK 350 with
Sun Roof and CD changer. 10K/3000 Down/439 per month/27 months. Is this a fair deal.
#127 of 260 My Lease Deal
Apr 24, 2006 (6:44 am)
I am proud new owner of a Cadet Blue Mercedes Benz CLK 350 with the Performance package(Sun roof- 6 disk cd changer and much much more) and wood grain steering wheel. I am so excited and believe that I got a good deal.
Initially I went for the $439 per month for 27 months deal. The catch with this deal is the money that has to be put down( almost $4000 and the millage allowance is 10K per year. For me that wouldn't work. So I opted for 39 months /12Kmiles for 599 per month(plus tax)and I only had to pay $2500 DOD. I got this deal from Mercedes Benz of Buckhead in Atlanta GA. Keep in mind that you must lease through Mercedes Benz Financial and have a Tier 1 credit score to get most of these deals.