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Mercedes-Benz E-Class, Car Leasing, Sedan, Wagon
#101 of 3270 Re: March Deals [Car_man]
Mar 21, 2006 (1:54 pm)
6. Available only to qualified customers by Mercedes-Benz Financial at participating dealers through March 31, 2006. Not everyone will qualify. Advertised 39 month lease payment based on MSRP of $56,275 less the suggested dealer contribution resulting in a total gross capitalized cost of $52,556.25. Dealer contribution may vary and could affect your actual lease payment. Includes destination charge and Premium Package. Excludes title, taxes, registration, license fees, insurance, dealer prep and additional options. Total monthly payments equal $22,971. Cash due at signing includes $2,950 capitalized cost reduction, $795 acquisition fee and first month's lease payment of $589. No security deposit required. Total payments equal $26,716. At lease end, lessee pays for any amounts due under the lease, any official fees and taxes related to the scheduled termination, excess wear and use plus $0.25/mile over 32,500 miles, and $595 vehicle turn-in fee. Purchase option at lease end for $34,327.75 plus taxes ..
Perhaps I am figuring this wrong but with these numbers I get this:
Selling Price $52,556.22
Residual percentage: 61%
Residual Value $34,327.75
Money Factor: .00140
That is the only way I see it totalling their totals. Am I missing something here?
I went to a dealer today. Basically, I have been wanting Keyless Go. Biggest discount I could get was $5,500 from the dealer. Today, he offered me $7,500 off a car on his lot without keyless go. Now keyless go went from a $1,000 option to a $3,000 option. I think I can get the car for $8,000 - $8,500 off MSRP now without keyless go.
The dealer did give me this on one with keyless go, 39 months, 15k a year.
Selling : $54,035
Payment with MD tax (5%) : $838
Nothing down but first and tags.
He did not give me the money factor. I think this is high. Using .00285 I get $790. Am I just getting cheated or am I doing something wrong?
#102 of 3270 Today's Deal
Mar 22, 2006 (11:22 am)
State Tax: 5%
Term : 39
Res Value: $33,329.70
I have a program that does this and the only difference I see is that the tax amount they used is on the car selling price and the program tax amount comes in half that.
Mar 22, 2006 (1:57 pm)
Well, I got a car today.
Here is the deal I just received on a 15,000 mile 39 month lease.
Selling Price: $53,300
Money Factor: .00235
Walk out the door cost $1800 (fees, reg and includes first month)
Payment: $682 plus tax
Maryland taxes 5% of the selling price of the car which translates into a $762 payment. I think that the taxes are very high but that isn't the dealers call.
Was this a fair deal CarMan?
#104 of 3270 Early Lease Buy-Out Question
Mar 28, 2006 (11:32 am)
After about a year I've had my full of driving an SUV - while it's great when you actually need the space and ability - which is about 10% of time, I'm alone in it on dry pavement the other 90%. For this reason I'm considering terminating my lease early by buying it out and either trading it or selling it for an E350 or A6. I called the bank for the buyout value - but the woman wasn't able to explain how the value is determined. I'm sure it's a function of the residual and remaining payments, but I'm wondering exactly it's calculated. I'm not an attorney, so the lease language is anything but clear. Does anyone have experience in this? Thanks in advance.
#105 of 3270 Is this a good deal? Will the March lease specials go through the weekend?
Mar 30, 2006 (11:07 pm)
Is this a good deal?
(Los Angeles, California area dealer)
2006 E350 Sedan
Iridium Silver with Charcoal Leather Interior
Premium Package with Panorama Sunroof
Wood/Leather Steering Wheel
SELLING PRICE: $49796.77
10K miles per year
$4294 Total Driveoff
$549 + Tax = $572 Including Tax
.00235 Money Factor
$34,809 Residual for 10K miles
#106 of 3270 Need advice on lease
Apr 01, 2006 (4:38 pm)
I am new to the forum and am seeking advice on a lease. I am looking for a Mercedes E350 or E500. I am in the L.A. area and here is the best deal I have received for an E350 from a dealer so far:
Total money down $5,500 incl. tax
Monthly payment: $650 plus tax
12,000 miles per year, 39 month lease
Is this a good deal? How do I best negotiate with the dealer (what arguments do I use)?
#107 of 3270 Re: Need advice on lease [benzlover1]
Apr 01, 2006 (5:16 pm)
I'm not a lease expert at all, but I did just finished negotiating/researching 6-8 different dealerships in LA, OC, and San Diego. Your deal doesn't sound good at all. The $5,500 is way too high, and so is the lease payment, esp. considering the MSRP. I just leased an E350 with a higher MSRP than yours (negotiated the selling price down to $49K), the total money down (including tags, tax, etc.) was $4294, and my monthly was $545 plus tax. Terms were the same as yours (mileage, length).
I'm pretty sure my total down was too high but other dealers were trying to charge me $5300-5500, so I was fine with the $4295. I read afterwards on Edmunds.com leasing tips that you don't really want to put any down at all (see leasing tips page for reasons), but at least I've learned my lesson. You also want to know the residual, etc., so read the leasing tips page for all the reasons.
What I did to get my final offer was ask different dealerships for prices via email and phone. Once I started getting pretty good quotes, then I asked other dealerships to match it. For ex., I got a pretty good lease deal in Beverly Hills (via email and the phone), then I emailed a San Diego dealership and asked if they could match it (because I live in San Diego).
Hope that helps!
#108 of 3270 Re: E350 4Matic [golfer71]
Apr 04, 2006 (2:10 am)
Congrats on your new car, golfer71. It looks like you got a pretty good deal to me. Enjoy!
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#109 of 3270 Re: Early Lease Buy-Out Question [jobie]
Apr 04, 2006 (2:11 am)
Hi jobie. I am sorry to say that it is usually fairly expensive to get out of leases well before their scheduled end dates. In order to do so, you need to purchase the vehicle that you are currently leasing from the bank that you are leasing it through. It often turns out that it costs more to do so than your vehicle is worth on the open market. Furthermore, many banks expect consumers who end their leases early to still make all, or at least the depreciation portion of their remaining lease payments. As you can see, this can get very expensive.
You can determine approximately how much it will cost you to get out of your current lease by comparing its purchase price to its value on the open market at this time. You should place a call to the bank that you are leasing your vehicle through to find out its exact price. Once you know exactly how much money it is going to cost you to buy your leased vehicle you need to compare it to its current value on the open market. You can find out approximately what your vehicle is worth by looking up its Edmunds.com True Market Value in the Used Vehicle Pricing section of this site. You also may want to stop by the following discussion: "Real-World Trade-In Values". One of our most knowledgeable community members, Terry, frequents that discussion and he is often kind enough to give community members who give him an accurate description of their vehicles with his opinion on their value. Don't forget to check to see if you are still on the hook for your remaining lease payments. The difference between your leased vehicle's current value and how much it will cost you to buy it plus any remaining lease payments that you are obligated to pay will equal the cost of getting out of your lease right now. You may find that you are better off waiting until you are closer to the scheduled end of your lease to get another new vehicle.
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#110 of 3270 Re: Need advice on lease [benzlover1]
Apr 04, 2006 (2:18 am)
Hi benzlover1. You don't need to argue with the dealer that you are working with, you just need to ask them what the selling price of the vehicle you are trying to lease is. If the price is reasonable, then have them calculate a lease payment on this car for you using Mercedes-Benz Finance's buy rate lease money factor of .00240. If the price is not attractive, negotiate a better one with them or comparison shop with another dealer or two. When negotiating the selling price of this car, make sure to take the fact that Mercedes is currently providing a $2,000 bonus on E350 Sedans that are leased through MBF. You may be able to get an idea of how much you should pay for this car by checking out the following discussion to see how much other community members have paid for similar cars lately: "Mercedes Benz E-Class: Prices Paid & Buying Experience".
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