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Prices Paid: Buying & Leasing Experiences Mercedes-Benz M-Class Lease Questions
313 messages, Last post on Nov 18, 2008 at 1:46 PM
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I want to do a 48 mos. lease on a 2008 Mercedes ML 350 with P1, heated front seats, voice activation, trailer hitch... MSRP's have been about $52,000 to $53,000 in Texas. I'll drive approx 12k miles/per year. What are the best lease factors and residual values? What percentage off MSRP is possible?
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Replying to: tzay (Dec 24, 2007 7:57 am) 61% Residual / .00220 Money factor |
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2008 ML350 MSRP = $49,710 Invoice = $46,285 Selling price = $46,300 33 months 7,500 miles (which is supposed to drop the residual by 2% compared to 10K, 3% compared to 12K or 5% compared to 15K) Residual = 64% MF = .0025 $0 down payment (incentives are around $2,500) Monthly base = $634 Monthly (7% tax) = $679 How does that selling price sound? This is the only factor I think I could get a better deal on. Aren't people paying under invoice for this car? Also, could the residual be negotiated or is .0025 good enough? Thanks in advance!
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Replying to: razor1973 (Dec 28, 2007 5:25 pm) Depending on where you live, there should be $1000 lease cash incentive. If so, they should be able to cap the cost below invoice. You're cap cost/selling price looks like you're right at invoice. If lease cash is available in your area, your cap would be another $1000 less. The residual values are correct. You CANNOT negotiate the residual value. It does appear that they marked up your rate slightly. MBC buy rate on this lease term is .00220. If you have 700+ credit, you should qualify for that rate. Good Luck!
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Replying to: ocautoseeker (Dec 28, 2007 8:02 pm) It's good to know MBC is offering a .00022 MF, but I feel once I mention this to them too they will once again tell me they're lowering their selling price too much to not make a profit somewhere; the MF in this case. I will, however, use both of these factors when negotiating again tomorrow. Thank you again and any further advise will be appreciated.
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Replying to: razor1973 (Dec 28, 2007 9:34 pm) Car dealers will always get you talking about their "profits", try to stay away from that topic and focus on structuring the deal that you know you can get, especially with this being the last week of the calender year. Right now, more than ever for the dealers, it's about units sold at the end of the month, not how much profit, as the majority of their bonus' are based on volume. If you're happy with the price they quoted you and it's in your budget, then there's no need to negotiate any further. However, I believe there's more room on the front-end and a few basis points in the rate that you could use to your advantage. One last piece of advice... try to avoid a busy showroom on the weekends. If management sees lot's of potential customers, they become very optimistic, and thus if one deal falls through, they believe another can be sealed. The opposite applies on a Tues or Wed afternoon when you're the only one who has set foot inside their helm. I wish you luck!
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Replying to: ocautoseeker (Dec 29, 2007 1:53 am) Last night, I wrote to another dealership and asked them to beat the deal. The deal was $679 after taxes, remember? I just woke up to find an e-mail saying $660 including tax. I thanked her for the offer and asked her to do better, i.e. sell at invoice, apply the $1,000 cash incentive and give me 64% residual and a .0022 money factor, MBC's latest. I mentioned that all I need is a yes and the deal will go through today. I am now waiting for her reply. If she can do this, we'll be talking about a $578 base or $618 after taxes. Quite a difference! Not to mention the first dealer's initial offer was $1,500 off MSRP and a .003 factor, i.e. $788 after taxes! The profits these people make! I will follow your advise once again and, if the answer is a no, I may wait until Monday, although that's pushing it, since that's the last business day of the month. |
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Replying to: razor1973 (Dec 29, 2007 8:09 am)  Thanks for your advise!
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Replying to: razor1973 (Dec 29, 2007 9:43 am) I am interested in doing a 33 OR 48 month lease on a 08 ML350 which has an MSRP of $52,705. Thanks, Tom Zay
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Replying to: tzay (Dec 29, 2007 10:44 am) |
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