Last post on Dec 07, 2013 at 6:57 AM
You are in the Prices Paid - Buying & Leasing Experiences
What is this discussion about?
Mercedes-Benz C-Class, Car Leasing, Hatchback, Sedan, Wagon
#366 of 1998 Need advice on how to lease a Mercedes Benz C300.
Nov 07, 2008 (9:05 pm)
Hi I'm Russell,
I am from Los Angeles, CA. I am a first time car buyer. I have a credit score of 680. Looking to lease a 2009 C300 Sports Sedan. I am interested in leasing it with the multi media package.
(I got these numbers from the MBZ website.)
Base MSRP....... $33,775
I want to lease for 24 months, 12k miles per year.
I have a down payment of $2000.
Monthly for the car is $778.
(These are all numbers from the MBZ website)
I am willing to pay $450-$500 a month.
Any tips and advice on how to bring my monthly down?
#367 of 1998 Re: Need advice on how to lease a Mercedes Benz C300. [djruss]
Nov 11, 2008 (11:53 am)
First step is to negotiate a good selling price. You should be able to easily get under invoice these days. I am negotiating for c300 sport 4matic right now, and I got quotes $2000 below invoice from three different dealers in DC Metro area. So I think it is very much possible.
Then the rest, residual value and money factor are hard to change with MB finance. I hear that dealers sometimes increase the residual value but I wouldn't count on it. Money Factor varies with your credit too.
If you take a 39 month lease, your payment could be under $400. I am not so sure about keeping it under $500 for a 24 month lease.
#368 of 1998 In Bay Area: Quote received on C300, your thoughts?
Nov 12, 2008 (6:23 am)
Excuse me for posting in this forum and the "prices paid" forum in advanced...
I like the guy that I work with at MB in the Bay Area but I just discovered this wonderful message board so it doesn't hurt to receive feedback...
I'm looking at the following:
Description ................................ INVOICE / MSRP
C300 Sport White on Black.......... $29,853 / $32,100
Option 320: Multimedia................ $2,771 / $2,980
7-Speed Automatic Transmission.. $1,358 / $1,460
Burl Walnut Wood (uugh).............. $288 / $310
iPod Integration .......................... $349 / $375
SUBTOTAL ................................ $34,619 / $37,225
Transportation and Handling ......... $875 / $875
IRG Participation ......................... $500 / -- (this is some new weird fee)
TOTALS ..................................... $35,994 / $38,100
My price on the car would be $34,500 (about $1500 under invoice). The terms of the lease are as follows.
10K miles / year
Money Factor = .0025 (or 6%)
Residual = 57%
Out the door = 1st payment, reg/licensing and tax or $920.
Monthly = $499 + CA tax (or a total of $540/month)
Any thoughts? He let me know that his buy rate on the Money Factor is .002... so do I work him for the extra .0005?
#369 of 1998 Re: In Bay Area: Quote received on C300, your thoughts? [wildting]
Nov 12, 2008 (4:31 pm)
"He let me know that his buy rate on the Money Factor is .002... so do I work him for the extra .0005?"
#370 of 1998 Re: In Bay Area: Quote received on C300, your thoughts? [wildting]
Nov 25, 2008 (5:20 pm)
Odd - when I use your numbers:
Cap Cost $34,500
I come up with a monthly payment of $468.31 + TTL
If you change the MF to 0.002, the payment drops to $440.20 so that "extra 0.0005" is costing you almost $1100 + TTL over the course of the lease.
Note also that MB charges you an acquisition fee of $795 and a $595 vehicle turn-in fee. Almost $1400 just to sign a lease.
#371 of 1998 How do I determine money factor on C230?
Dec 01, 2008 (8:42 pm)
My 39 month lease shows depreciation and amortization of $13,666, Rent Charge of $8,911, adjusted capitalized cost $34,561, residual value of $20,896, acquisition fee $1,095. How do I determine the money factor, residual %,etc.?
Also, shat strategy can I use to get a good deal at the end of the lease? Thanks.
#372 of 1998 Re: How do I determine money factor on C230? [caduet]
by kyfdx@Edmunds HOST
Dec 02, 2008 (4:17 am)
Rent charge / term = monthly rent charge of $228
$228 / (cap + residual) = approx. .0041 money factor
Your residual value is a percentage of the MSRP. Once you have the MSRP, it is an easy calculation.
#373 of 1998 Re: How do I determine money factor on C230? [kyfdx]
Dec 02, 2008 (5:26 pm)
Thanks again. You are a big help and is very appreciated. I am paying $619 a month for 39 months. How does that relate to the $228 rent? Is the rent a customary charge on all leases? The MSRP is $33,466. I think I was bamboozled! What do you think?
#374 of 1998 C300 Sport 4Matic Lease
Dec 02, 2008 (6:36 pm)
Hi, I was going to lease the new A4, but the sales guy changed the numbers on me right before I signed. Anyways, I got a quote for a 2009 C300 4matic sport with P1 and wanted to know if this seemed ok. Zero down just the start ups which was around $1600 (1st month, plate, acquisition fee etc.) and he said with the Chrysler discount, 39months, 12,000 a year, it would be $458 a month. He told me the car's MSRP was around $40,000 and I was getting it far below invoice. Sales guy said every $1000 down would bring it down $30 and that the deal ends at the end of December. Also, I am waiting for a relative to see if he used up all his Chrysler discounts this year and the sales guy said he could "get me one" for $400. I spoke to some people and they said they have paid $100 for someone's "numbers", but $400 was too high. Does this lease sound fair? Should I get a quote from the dealer across town? If this price isn't working, I am going to have to get a CTS, but I would rather get this car. Thank you if anyone has any input and I am located in Michigan if that makes a difference.
#375 of 1998 Re: How do I determine money factor on C230? [caduet]
by kyfdx@Edmunds HOST
Dec 02, 2008 (7:31 pm)
Well.. $619/mo. doesn't sound like a great lease payment for a $33,466 vehicle.. but, I'm not really familiar with the Mercedes lease programs, so maybe that's as good as it gets..
If it were me, at that price, I'd just buy the car.
But, to answer your question.. the rent charge is the finance portion of the lease payment.. equivalent to interest on a loan. The rest of the payment is depreciation. If your numbers are correct, then the equivalent interest rate on that lease is about 9.8%..