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Prices Paid: Buying & Leasing Experiences Mercedes-Benz M-Class Lease Questions
264 messages, Last post on Sep 03, 2008 at 8:07 AM
You are in the Prices Paid: Buying & Leasing Experiences Forum. Your Hosts are car_man & kyfdx
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say that I don't think anybody forced you at gunpoint to sign this horrible lease deal. You did it on your own without doing research and knowing how leasing works. Don't do another thing until you've gone to the "10 steps to leasing a new car" thread on this website. Ultimately you are losing more money by keeping it but don't rush out and do something silly. I know I sound like a jerk but take some responsibility and educate yourself so things like this won't happen again. Car dealers take advantage of people who LET car dealers take advantage of them. Slow down and make an informed, and educated move. Good luck and let us know how you do. |
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Replying to: scottlma (Sep 22, 2006 6:38 pm) I ran your numbers and came up with approx $506 + $30 tax = $626 total. So $699 is a bad deal. You'd better learn how to work the numbers yourself so they can't take advantage of you. So what's the new selling price at $1,000 over invoice? Critical number to a calculation. You also need to tell us the acq fee they're using, since that is added to the negotiated selling price. Usually the purchase option at lease end is the residual, and your purchase option price is lower, so that's good. Also, recognize that $5,000 divided by 39 = $128 per month. So if you had no cap cost reduction, your payment would just increase by that amount. Pay them now, or pay them over time. Your choice. |
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Car man Do you happen to know the latest lease deal on the ML350? Thanks!
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Replying to: jakpenn (Nov 16, 2006 12:31 pm) MRSP 51000, 27 Mth Lease, $4500 drive off, 10K / Year, the monthly pay is $545 without tax, with 700 MID FICO. Does anyone know a better leasing program? Please HELP !! |
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this is what i was quoted for a new lease on a ML 500 pck gr 2 +exterior appearance group: msrp:58365 price 55600 trade in 14591 terms 39 mo rate 0.003815 (i have excellent credit...i was told this is MB tier 1) residual .59 allow 12000/year net cap cost 43209.92 monthly 536.85 can i have some help deciding if it is a good deal or not? i am brand new at thos leasing thing and not too familiar with rates and costs... thanks!!!
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Replying to: automobile1 (Nov 30, 2006 2:58 pm) They are making money of the "rate" - more commonly called the money factor. With tier one credit the money factor on that car is .00325. Dealers often mark this up because the consumer has no idea what they should be paying. Unless you have money to burn (likely several thousand dollars) you should NEVER trade in a car. They are probably planning on making thousands on this part of the deal. Also - IMHO it is never worth putting money down on a lease. All you are doing is saving the interest expense on whatever you use to reduce the cap cost. You will end up fighting (probably unsuccessfully) to get it back if you total the car. The residual is correct, but make sure that they are calculating the residual based on the MSRP, not the purchase price. Residual values have no connection to what you pay for the vehicle. I just finished purchasing a ML500 and frankly think that I got a much better deal on a similar model. Feel free to contact me at moleary  grimeslog.com if you want some assistance. I can also send you an excel spreadsheet that will let you plug your own numbers in to double check the dealer.
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Just read the latest ML350 lease offer at MBUSA. They charge a $795 acquisition fee plus a $595 vehicle turn-in fee. Almost $1400 in charges for the privelage of leasing!! Are my eyes deceiving me
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I was just offered the following deal and I would like to know anyone's thoughts: ML 350 w/premium I and 6cd changer MSRP $46,695 License, "rental surcharge??", tire & battery fees $266 Bank charge $1,095 Dealer fee $599 Cap reduction (after asking for quote with $0 down) $986 Upfront taxes $192 Disposition fee $595 39 months 12k miles/yr ($0.25/mi over) $566/mo + tax Also offered first $5000 of damage & fist 1000 miles over "wear & tear" policy for $675 Thoughts anyone?? |
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Ok - I would be grateful if anyone could let me know if I am on the right track here. 2007 ML350 Black on Black Premium II Heated Seats CD-Changer $3000 out of pocket to drive it off the lot (includes first month) $625 per month includes tax - 12K miles per year 39 months an ML320CDI maybe be $5 less per month I've been holding off to see if there would be a program in March but MB has been pretty select these days. With residuals on the move I am wondering if I should take this deal. Thanks in advance |
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I had two leases terminate on very similarly used vehicles at the same time, so here is what I can share about that lesser known period of the lease: The Termination... Driving my Audi was OK, but boy, the leasing department (Audi Financial Services in Detroit)was a very negative experience at lease end. Niggling charges up the whazoo on a very, very undermileage car. Mercedes Benz was a wonderful experience on a similarly driven vehicle turned in only two weeks later. If a credit card covers it, MB don't charge for it. No turn in fees for wear and tear. Audi was horrible and had many unjust and even incorrect fees- it was a laundry list. Somebody should tell AFS about customer service, it was a nightmare to reach anyone there. Of course, I couldn't even get a supervisor on the line at Audi to discuss the issues and the clerks were bored by my calls. I am very dissatisfied with Audi. Kudos to Mercedes though! |
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