Last post on Dec 10, 2013 at 9:01 PM
You are in the Prices Paid - Buying & Leasing Experiences
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Mercedes-Benz M-Class, Car Leasing, SUV
#1476 of 1616 Is dealer being reasonable?
Jan 05, 2013 (7:02 am)
Hello all. I've been a frequent user of Edmunds.com for many years, but came upon this forum the other day trying to figure out the advisability of leasing. I had always purchased my cars until i entered into my first lease in 2010, a Mercedes ML450h. I have a 15,000 mile/yr allowance but in 3 years will just hit 30,000 miles. That lease is up next month and I'm trying to decide what to do. Because it was MB's first real hybrid, the deal was lease only. They would not sell you the car up front or at the end of the lease. They are taking them back to Germany to examine and test. I do have one option to extend the lease for 6 months. My monthly payment is $472/mo since I traded in a Camry hybrid I owned and effectively put money down on the lease (not sure if that was a good idea or not, but that's what I did). I might end up just taking the extension and postponing a longer term decision but I'll still have that coming. I'm getting closer to retirement and wouldn't mind driving another ML for a few more years without spending a ton of money buying a new ML. Then I'd have some flexibility to buy something more economical if and when I ride off into the sunset. SO - my dealer has made me the following offer which I have no clue if it's decent. 2013 ML 350 4Matic, P01 pkg., Harmon/Kardon, keyless go, lane tracking and some other odds and ends, Total MSRP with $905 dest and delivery - $58,550. He offered to sell it for $55,200 plus tax, license, etc. As for the lease, I have 30-48 month options, but am looking at 30 or 36. With a 10,000 mile/yr allowance and with money down, the offer is as follows: at 30 months with $12,000 down $610/mo and with $15,000 down $500/mo. For 36 months with $12,000 down $630/mo and with $15,000 down $540/mo. I've read it's not a good idea to put a lot of money down on a lease since if the car is really damaged, insurance covers only your future lease payment, but putting that aside, do these lease offers make sound reasonable? I don't know, but with the cash down, it seems like I would be paying more than 60% of the MSRP over the life of the lease, and interest rates and money factor aside, it seems like a really good deal for the dealer and not me. I'd really appreciate anyone's thoughts. Thanks much.
#1477 of 1616 Re: Is dealer being reasonable? [mltdwn]
Jan 05, 2013 (8:32 am)
Too much money down and monthly is also too high with both $12,000 or $15,000 up front. Do not fiate at a certain monthly payment, but rather put the least amount of money down. That being said find out your invoice for this vehicle and use this as a starting point. Check this forum for January leasing information and for incentives available. Calculate your own numbers once you can get your final cap cost.
#1478 of 1616 2013 ML money factor
Jan 11, 2013 (1:19 pm)
I got addiitonal information and wonder what anyone thinks: quote for a 2013 ML350 4Matic with a .00192 money factor; 63% residual for 30 months, 57% residual for 36 months; MSRP $58,550 with $3,350 discount for selling price of $55,200. I think the residuals are probably ok, but what about the money factor and the discount?
#1479 of 1616 Re: 2013 ML350 4matic residual values [dinoman]
Jan 12, 2013 (1:10 pm)
i am also looking into leasing an ML. can you please email me the name of dealer.
#1480 of 1616 Re: 2013 ML350 4matic residual values [tmahmoodil]
Jan 13, 2013 (4:07 pm)
Autohaus on Edens, Northfield IL or Mercedes Benz of Chicago. Both were at .0016 MF and 15,000 mi./yr.
#1481 of 1616 Re: 2013 ML money factor [mltdwn]
Jan 13, 2013 (5:52 pm)
MF is .0016. The discount you are getting is not good enough. I was offered 11.5% off MSRP in December. Also, do not allow the dealer to mark up the acquisition fee. It should be 795. They tried to mark it up to 1095.
Residuals are set by mercedes benz. Good luck.
#1482 of 1616 Re: Car for Dad [mlevine]
Jan 14, 2013 (7:47 am)
SO here is the latest. ML350W4 with PO1, keyless go, lane tracking, etc.
MSRP is $56,885 (includes $905 for destination and delivery).
Lease is 36 months, 10k miles/year, residual is 57%, $10,000 trade-in.
Money Factor is .0016 (down from .0026)
Acquisition Cost is $795 (down from $1095).
The Gross Cap Cost is $56,296.
That is not much of a discount from MSRP.
What discount from MSRP is market?
They want first and last month lease payment at closing. Is that typical?
Are there any dealer incentives that i should be aware of?
#1483 of 1616 Re: Car for Dad [rbrekka]
Jan 14, 2013 (11:06 am)
Money factor,residual, and aquisition fee are good. Where is $10,000 trade in going? Part will be needed for 1st month, motor vehicle fees, aquisition fee, and possible doc and or dealer fees(all additional profit by the way, but at times hard to negotiate). Should not have to put down last month. Only incentives are MB club USA, (must be a member for one year), and fleet such as USAA. I would use the invoice pricing as a starting point and take off any discounts you are eligible to receive from this price. To me your cap cost is too high.
#1484 of 1616 Re: ml 350 bluetech [phillyboy]
Jan 15, 2013 (4:39 pm)
Hi phillyboy. Mercedes-Benz Financial's January buy rate lease money factor and residual value for a 24-month lease of a 2013 ML350 Bluetec with 12,000 miles per year are .00160 and 72% for consumers who qualify for its top credit tier.
Prices Paid: Buying & Leasing Experiences Forum
Jan 19, 2013 (8:49 am)
Since I have been using this site for years and have really benefited from it, I thought I would add in the deal I just got.
Had a 2010 ML350 which was over miles by 6500, and still had 6 payments left.
Mercedes paid my last 5 months, and included the additional month and over mileage in the deal (which would have been $1500 just in miles).
Got a 2013 ML350 w/ P1 package, black w/ tan interior.
.0016 money factor, 11% discount, $52950 MSRP
$750 loyalty discount
$1500 holiday credit
$1080 due at signing
$675 tax inclusive for 36 months
South Florida area
I am very happy with this deal, and it got me out of my current lease which was actually a higher payment and I would have owed a ton at the end. Hope this helps someone. Love the car! It is so much nicer than the 2010. They made a lot of nice changes.