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Prices Paid: Buying & Leasing Experiences Mercedes-Benz E-Class Lease Questions
756 messages, Last post on Oct 05, 2008 at 9:50 AM
You are in the Prices Paid: Buying & Leasing Experiences Forum. Your Hosts are car_man & kyfdx
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Hello Carman, I plan on helping my father lease a MB E350 4-matic vehicle in Syracuse,NY. His 2007 Infiniti M35x was totaled in an accident yesterday and that was a leased vehicle. Quick question since his vehicle was totaled does that get him out of his leased contract with Infiniti? Carman, do you know the January Money Factor for a Mercedes E-350 4matic for 24/36 months with 12k/year. And when you lease a car in New York do you pay tax ahead of time on the entire vehicle similar to Illinois, or just on the monthly payment. Thank you in advance for your help. |
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Replying to: nacho2 (Jan 27, 2008 10:15 am) I'm no expert, but my layman's understanding of how a lease works is that if the car is totaled or stolen, the lessee is still responsible for the lease payments. However, again, as I understand it, GAP insurance is designed to cover this problem. GAP insurance may be mandatory in NYS; I would sit down and check over the lease contract on the Infiniti to see if it includes GAP. As to tax, my understanding based on lease quotes I've had in the past is that the tax can be paid as part of the monthly payment, but again, that's only my understanding. Good luck.
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Replying to: nacho2 (Jan 27, 2008 10:15 am) |
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Replying to: dkla76 (Jan 03, 2008 1:41 am) |
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Replying to: crestonave (Jan 27, 2008 10:27 am) |
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| i pay $700 a month for my ML550 and its roughly the same price as an E350 | |
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Replying to: nacho2 (Jan 27, 2008 10:15 am) 24 Month – Residual 63% of MSRP – .00115 Base Rate 36 Month – Residual 53% of MSRP – .00170 Base Rate 48 Month – Residual 45% of MSRP – .00170 Base Rate 60 Month – Residual 41% of MSRP – .00355 Base Rate 2008 Mercedes E350 Sport 4matic Sedan 24 Month – Residual 63% of MSRP – .00115 Base Rate 36 Month – Residual 53% of MSRP – .00170 Base Rate 48 Month – Residual 45% of MSRP – .00170 Base Rate 60 Month – Residual 41% of MSRP – .00355 Base Rate * Rates and residuals are based on 12k annual miles. Add 1% to residual for 10k miles, Subtract 2% from residual for 15k miles. In regards to your father's Infiniti. If the vehicle was leased through Infiniti Financial Services, it should've included the GAP coverage. If the lease was through a secondary lender, hopefully he purchased a GAP policy to cover the entire payoff. This is the first thing you need to find out. As for the sales tax in NY, you are only taxed on the depreciation and taxes can be rolled into the monthly payments. In Illinois, you are taxed on the entire cap cost, and taxes are typically due upfront. |
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Replying to: ocautoseeker (Jan 27, 2008 4:01 pm)
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Replying to: ocautoseeker (Jan 27, 2008 4:01 pm) Appreciate!
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Replying to: ocautoseeker (Jan 23, 2008 5:38 pm) Lease is based on the 2008 E63 AMG equipped with optional Premium Package P2, and $2,000 lease cash. Dealer may contribute up to $3950.25 towards the $999 monthly lease special. I understand the 2K lease cash. Do you know what they mean by dealer may contribute up to 3950.25?
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