Last post on Dec 09, 2013 at 4:19 PM
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Mercedes-Benz E-Class, Car Leasing, Sedan, Wagon
#2224 of 3252 Re: looking to lease 2012 benz e350 blue tech [autoboy19]
Apr 04, 2012 (11:37 am)
You shouldn't put any money down on a lease...it creates an artificial belief that you are getting a good deal, but in fact you are taking a risk if your car is totalled or stolen. Put the money you would have paid up front in a bank and use it to pay the slightly higher monthly payments....or...
the better use for the funds is to use multiple security deposits...instead of putting $4000 down on the car, use it for multiple security deposits. That should lower your money factor and save you probably $50 a month of actual savings...and unlike money you pay up front, you get the money you put down for multiple security deposits back at the end of the lease. It's the best use of your money...actually it pays about 11% per year when you work through the lease.
Finally, try to buy maintenance as a feature on the bluetec....remembering that features are "residualized" That is, you pay 22% of the cost of the car and features during your 2 year lease....and you pay 22% of the maintenance cost if they let you do this. There are mixed opinions on whether this is doable or not...my lease includes 24 mo of maintenance on my bluetec...others have been told that you can't residualize it, you can't do this on a diesel, etc. My advice....just try to do it and see what the dealer says. Mercedes seems to accept the lease either way....so you have nothing to lose.
#2225 of 3252 Re: 2012 E350 lease offer [murphtype]
Apr 04, 2012 (11:40 am)
fees.start up cost is too high....only pay first month's lease payment plus anything else required by law (registration, taxes,...). Ask if you can apply multiple security deposits to help lower the money factor on your lease....some dealers will let you based on the .00169, others will let you based on some other rate; some have no clue what a multiple security deposit is (make them look it up...it's part of the standard mercedes finance lease program) and there are a small handful of states (NY,...) that don't allow msd's....but give it a try because it can save you $50 or so a month and you get your security deposit money back at the end of the lease.
#2226 of 3252 2012 E350 BlueTec Lease (with Bad Credit)
Apr 06, 2012 (8:34 am)
My credit is not exactly Top Tier. I just did a short sale on my investment property and received some cash incentive that I could use for downpayment or security deposit.
Any suggestions on getting a lease with my non-Tier 1 credit? Should I do a downpayment in addition to the multiple security deposit?
The promo at the local Southern CA MB dealer has the following lease option for a 2012 E350 BlueTec.
Term: 24 months lease payment based on total gross capitalized cost of $55,952
- Includes Destination Charge and Premium 1 Package. Excludes title, taxes, registration, license fees, insurance, etc.
- Total monthly payments equal $13,896.
- Cash due at signing: $2,499 capitalized cost reduction, $795 acquisition fee and first month's lease payment of $579
- Total payments equal $17,190
- Mileage: 10K per year
Thanks in advance for your help.
#2227 of 3252 Re: 2012 E350 BlueTec Lease (with Bad Credit) [boybee]
Apr 06, 2012 (12:34 pm)
Do you have an idea as to your credit score or even a range? Most of the MF's cited on this forum are for top tier credit, so my suggestion would be that if you know your score, perhaps you can ask the MB finance manager for the associated MF/interest rate for your credit tier. Then, based on the RV and target sales price, you can calculate your anticipated monthly lease payment in advance of 'formal' negotiation.
I would recommend putting $0 down (or close to it) and only paying first month's lease and required fees (e.g., DMV and registration). You should use the dollars that you would have put down towards MSD thereby reducing your MF which I suspect will be higher than what is quoted on this forum.
Finally, I encourage you to contact MB of Long Beach and ask for a salesperson with initials G.O. We leased our e350 Bluetech from him as he was completely transparent.
#2228 of 3252 Re: 2012 E350 BlueTec Lease (with Bad Credit) [boybee]
Apr 08, 2012 (5:37 am)
I guess if you want to pay almost msrp for the car, it's an ok deal...but a e350bt with p1 should be closer to 52k. Don't make any capital cost reduction...see if multiple security deposits will reduce the money factor and see if the dealer will allow you to add maintenance as a feature ...see the configurator on the mb site. Good,luck on getting mb to lease you the car with a short sale just on your credit.
#2229 of 3252 thoughts on this lease please
Apr 11, 2012 (12:06 pm)
In final negotiations on a 2012 E350. Thoughts?
palldium silver- $ 720
prem 1 launch package- 3600
total MSRP: $55975
discount from MSRP- $7975 with all incentives
Includes- 3 yr prepaid maintenance
1st month & fee down- $940.52
money factor .00189
residual- 61% $24144.75
$694. tax in, 33 months, 15k miles/yr
#2230 of 3252 Re: thoughts on this lease please [melissaflorida]
Apr 11, 2012 (3:07 pm)
I see you are interested in th E-class now.
Do you have a break down of the cap cost like you had on the C-250?
It seems they are charging you for the maintenance this time.
Also, what all incentives did you get included in the $7975 off?
Also, I would have them look into a 24 month lease for you. I belive the residual should be around 68%, which would make the payment very close to what it is on the 33 month program.
#2231 of 3252 Re: thoughts on this lease please [melissaflorida]
Apr 11, 2012 (3:04 pm)
Looks like reasonably good deal...but that maintenance is 3 years or 30,000 miles...and you are leasing to do 41250 miles so you really need the mercedes 4 year/40000 maintenance, not the 3 year maintenance....and that's $1000 more. For higher mileage drivers/leases, you maintain by miles, not by time.
It also looks like they are not "residualizing" your maintenance....it should be handled just like any other feature on the car so instead of paying the whole amount, you only pay 100%-61% or 39% of the MSRP. I think they are asking you pay the whole amount. This is a confusing part of the mercedes finance plan but I think you can just pay 39% of that $1700 maintenance rather than paying the whole amount over 33 months...push the dealer to check their Mercedes Finance manual on residualizing maintenance.
Depending on your financial situation, you might want to take advantage of multiple security deposits (if they are offered in your state and they are in FL). If you loan Mercedes roughly $7000 for the life of the lease, they will reduce your money factor. Not sure if they will take .0007 off the .00189 or if they would take it off a mysterious "base rate" of .00225 which would bring the MF down to .00155 from .00189. Again, ask them to run the cases with maximum multiple security deposits (10) and see what the monthly payment will be. Remember, you get that $7000 back at the end of the lease..it's not a down payment or capital cost reduction.
You'll really enjoy the car....
#2232 of 3252 Re: thoughts on this lease please [melissaflorida]
Apr 11, 2012 (6:08 pm)
Hi Autoboy!! I took delivery of my C today!! This is for my husband, this caught his eye when we were picking up my car today. His lease is up as well.
He beat to it this time, he added the maintenance knowing I would ask for it.
This was all he emailed me today. I will ask for the exact breakdown.
GH- good point about the 30k miles vs a 40 plan