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Mercedes-Benz E-Class, Car Leasing, Sedan, Wagon
Aug 18, 2011 (3:50 pm)
I just finalized a 33 month lease on a 2011 E350 Sport (Steel Grey with Ash/Black Interior) with Premium Package 1 and Split/Folding Rear Seat at Patterson Mercedes in Wichita Falls, Texas.
MSRP = $55,435
Sale Price = $48,266 (Invoice plus $150 with Conquest Discount of $4,000)
Residual = 63%
Money Factor = 0.0025
Trade In = $4,000
Acquisition Fee = $795
Payment = $467.60 (Depreciation and Finance Fees Only)
All other fees, including 36 month maintenance for $769, are being paid up front. The maintenance fee was residualized at the 63% rate to increase the residual value decreasing the depreciation fee by almost $15 a month. Total out of pocket including first month payment is $2,949.13.
Total cost over the lease period dropped about $5,000 by reducing from a 36 month lease to a 33 month lease.
Watch the lease calculations closely. The program that the dealer was using would pull any fees and the first payment from the down payment or trade in by default. I had to provide calculated values for the up front payment in order to get the lease to calculate properly. This default is in their best interest as you pay additional financing fees on that money. I suggest reading www.leaseguide.com very closely before dealing.
#1735 of 3245 Re: Good Deal?? [bfran1969]
by kyfdx@Edmunds HOST
Aug 18, 2011 (4:14 pm)
So... your upfront money was the $4K trade value + $2950?
Then, tax on the $467.60?
Just asking.... might have to put this one on the list..
#1736 of 3245 E350 lease
Aug 21, 2011 (10:02 pm)
I got a 33 mo lease for e350 sport, silver metallic, P1 package, 20k miles allowance per yr.
$2000 out the door including 1st mo payment
$620 plus tax monthly.
What do you guys think of the deal?
#1737 of 3245 Going in tomorrow to look at E350
Aug 22, 2011 (10:25 pm)
Have an offer to waive last 4 payments on my c300 plus got $1,500 loyalty letter in the mail. Wanting to upgrade to 2011 P1 E350 sport. I'm in Las Vegas. Tier 1 credit.
Looking for a baseline for reasonableness for when I go in. Can anyone help?
#1738 of 3245 Re: Lease E350 [alexanderv]
Aug 23, 2011 (3:25 pm)
That's an excellent question, alexanderv. I am not sure if they are compatible, but I suspect that they are not.
Prices Paid: Buying & Leasing Experiences Forum
#1739 of 3245 Re: AUGUST # PLEASE CARMAN [pitbull666]
Aug 23, 2011 (3:31 pm)
Hello pitbull666. Vehicles' residual values are based upon a percentage of their full MSRPs, including the destination charge and any options that can be residualized.
Prices Paid: Buying & Leasing Experiences Forum
#1740 of 3245 2011 e BlueTec lease
Aug 30, 2011 (3:17 am)
Just leased a new 350 Blutec with P2 ($59200 MSRP) for 24 months (12K/year). $900 paid up front (first payment plus registration and some incidental state required fees). My monthly payment are $495 plus tax. I rolled the origination fee into the lease.
I used the maximum (10) multiple security deposits to bring down the money factor...effectively, a loan to Mercedes for two years...and then I get that money back. I was eligible for the conquest $4000...but the real key to this deal was the incredibly high 77% residual on a 12k miles/yr 24 month lease.
Dealer charged $1095 lease origination fee...so I guess they marked it up, but I think this might have been the last 2011 bluetec in the state and conquest money ends 8/31 so I just bit the bullet and paid it.
#1741 of 3245 Re: 2011 e BlueTec lease [ghstudio]
Aug 30, 2011 (9:39 am)
Thanks for the info. How much reduction do you get in MF for each security deposit? Also, which state are you in, that is one heck of a deal. Congratulations on agreat car!
#1742 of 3245 Re: 2011 e BlueTec lease [fq1]
Aug 30, 2011 (7:39 pm)
I'm in Florida. My understanding is that multiple security deposits are available in most but not all states.
The reduction in money factor by Mercedes Finance is .00007 for each security deposit. Each finance company calculates the "security deposit" amount differently. Mercedes figures out your lease, assuming the number of multiple security deposits you want to pay and then you will pay the full amount of the monthly charge calculated times the number of security deposits you said you would pay.
That's probably confusing....so let me explain with numbers
If you tell the finance person that you want to make 10 security deposits, they will reduce the August money factor (tier 1 credit) from .0024 to .0017 and calculate the monthly payment including your local tax. You then will leave 10 monthly payments as a loan to Mercedes finance for the life of the lease.
If you do this, I recommend paying the lease origination fee up front as well for two reasons. You won't have to pay 4% on that fee...but perhaps more important, the calculated monthly payments will go down and you will have to loan mercedes less as multiple security deposits.
Many ways to play this, depending on your personal financial situation. If you are paying 20+% on your credit card loans, none of this makes any sense....go pay off your credit card. If you have cash sitting in a bank or in a CD and won't need it for the life of the lease, why not put it into multiple security deposits where you will effectively earn more than 10% on that money.
#1743 of 3245 Extending a MB lease
Sep 01, 2011 (4:20 am)
At the end of a lease, does Mercedes allow you to keep the car for one or more months...in other words, extend the lease if you want. Some leasing companies allow you to do this if you have another car on order FROM THEM. Others will allow you to extend for one or two months at the same monthly charge for any reason.
How does Mercedes handle their end of lease options?