Last post on Dec 03, 2013 at 12:08 PM
You are in the Prices Paid - Buying & Leasing Experiences
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Mercedes-Benz E-Class, Car Leasing, Sedan, Wagon
#2442 of 3245 Took Home E-2012 Black-P2
Sep 04, 2012 (7:54 pm)
Thank you all for making this thread a very valuable source of info for lease & purchase. Thanks to your posts, I went through an almost painless and straight forward process and took home a 2012 E-350 about a week ago from Lokey Mercedes in Clearwater, FL.
MSRP - $62,375
Purchase price - $52,700 (~16% discount off MSRP)
MF: special buyrate .00127 less autopay (.00010) = .00117.
Prepaid maintenance: $715 (residualized!)
Above all, a deal we're happy about! Couldn't get the 10 MSD's discount as I was told it could not be combined with special MF per MBFS rules.
Everything was done via email & a few phone calls and started with a quote inquiry from edmunds.com. Many credits to Miguel, he made the whole process a breeze. If you're shopping and don't mind sourcing from the Tampa Bay area, I recommend this place. May still have a few 2012's and but surely plenty of 2013's
#2444 of 3245 Re: Took Home E-2012 Black-P2 [mmrfk03]
Sep 07, 2012 (11:26 am)
Hello mmrfk03, thanks for sharing and this is great information. What is your monthly payment (with and w/o taxes) ?
#2445 of 3245 Please help! 2012 E350 Convertible Lease
Sep 10, 2012 (8:58 am)
This is the initial quote I received. I don't know what to ask for next or if this is a good deal:
2012 E350 convertible Black on Black Leather equipped with Premium One Package, rear spoiler, wood trim package, appearance package and a black soft top.
Initial cap cost 60,000 (selling price 59,500 + 500 transportation)
LEV 37,855 (LEV % is 58% x the MSRP)
Money Factor .00160
Act. Fee 795
Dealer fee 399
Title/lien fee 17
36 mth/12k per year
No money down. First month lease payment due at signing: $799/month + tax (Omaha, Nebraska)
Am I on the right track?
#2446 of 3245 Re: Please help! 2012 E350 Convertible Lease [lotterywinner]
Sep 11, 2012 (11:23 am)
Same terms but I negotiated the $799/mth to include the P2 pkg instead of the P1 (I wanted upgraded lights and keyless entry!)
Any thoughts? ANYBODY?
#2447 of 3245 My Deal on 2013 E350 4 Matic
Sep 11, 2012 (1:30 pm)
Obsidian Black Metallic - $720
AMG Wheel Package $760
Premium 2 Package $6,450
Rear Spoiler $300
Heated steering wheel $490
Rear-seat entertainment system $1,910
4MATIC Package $2,500
Total Cost - $65,035
24 month lease
$765 all in with taxes first $1,000 down.
#2448 of 3245 Re: Please help! 2012 E350 Convertible Lease [lotterywinner]
Sep 11, 2012 (3:08 pm)
Please remember that a lease is based on only three variables: Negotiated sales price; Residual Value (RV); and Money Factor (MF).
RV is a fixed percentage set by the MBFS. There is a base rate MF that is suggested by MBFS as well but dealers have the latitude to mark it up as another source of profit. Both RV and MF are based on your model, lease term, and mileage per year.
The calculations would be as follows,
Monthly Depreciation = (Cap Cost - (RV*MSRP))/Lease Term
Monthly Interest Charges = (Cap Cost + RV*MSRP)*MF
Monthly Lease (pre tax) = Monthly Depreciation + Monthly Interest Charges
*N.B.: Cap Cost assumes Negotiated Sales Price + Acquisition fee only (i.e., no cap cost reduction or $0 down)
Assuming that the MF (.00160) that you were quoted is base rate and RV is accurate, I calculate then the monthly pre-tax is ~$772.
My unsolicited advice on reducing the monthly payment follows below,
- Don't do cap cost reduction (i.e., make $0) down
- Negotiate the sales price further and ensure that you are getting any incentives such as Conquest, etc.
- Consider Multiple Sec Deposits (MSD) to reduce the MF. However, if the MF offered is promotional, MBFS may require you to use a higher MF off of which to assess MSD.
#2449 of 3245 Re: Please help! 2012 E350 Convertible Lease [lotterywinner]
Sep 11, 2012 (3:17 pm)
Hi lotterywinner. The car that you are interested in probably has a spread of around $4,500 or so between its full MSRP and its dealer invoice price. Plus Mercedes dealers are being given $1,500 CAP certificates that can be used on it, giving you a total of around $6,000 to play with if you can convince the dealer to use one on your deal. That puts the deal that you were offered at around $700 over invoice, which is a very good deal...particularly in Lincoln Nebraska where there likely isn't much competition.
The money factor that you were quoted looks great, too. If you like the car, I personally don't see any reason not to go for it.
Prices Paid: Buying & Leasing Experiences Forum
#2450 of 3245 Re: Please help! 2012 E350 Convertible Lease [dewarsandsoda]
Sep 11, 2012 (3:51 pm)
Thank you for your help!
I did not qualify for Conquest but can you please explain exactly what I should say concerning "Don't do cap cost reduction (i.e., make $0) down ". What do I ask for? (it's emailed negotiations)
Also one last question. I know this goes against all the lease GODS lol but I was considering asking them what the payments will be for a 4 year lease to get my payments a little lower. I know it's not good economical sense but what are your thoughts?
#2451 of 3245 Re: Please help! 2012 E350 Convertible Lease [lotterywinner]
Sep 11, 2012 (4:19 pm)
I'm assuming that you are putting $0 down. i.e., you will only pay your first month's payment and any valid fees (DMV registration, etc.) at lease inception/signing. I try to never put any money down or minimize the downpayment because if the car is totalled, I will never see that money again. Additionally, all that matters is the total money that you expend over the lease term. You can do the calculations, and often you will find that even if you reduce the monthly payment by making a downpayment, the total money in under that scenario exceeds the total money in if you made a higher monthly with no down.
I would only consider a 2 or 3 year lease for several reasons. First, the RV is considerably better for 2-3 year leases as the car will depreciate substantiatlly at 4 years (increasing your payment). Second, MBFS often offers current leasees the ability to waive their last 4-8 payments if they move into another MB's vehicle. Third, the interest rate on a 4 year lease is ~3.8% (=.0016 MF). You could simply purchase the car and finance the purchase at a lower interest rate and subsequently sell the car in ~3-4 years.