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Mercedes-Benz M-Class, Car Leasing, SUV
#924 of 1615 Comments on this deal?
Dec 31, 2010 (6:57 am)
I've been offered the following deal:
2011 ML350 4Matic - MSRP $56,005 with sales price of $49,005.
It is a "sign and drive" deal with ZERO dollars exchanged at lease inception. However, the dealer is rolling in $2,700 dollars ($795 bank fee; $640 (first month payment); $658 (I have 4 remaining payments on my existing lease and Mercedes will eat 3); $650 title/registration).
The residual on 36 months with 12k miles is 55% and the money factor is .00007.
Payment including tax - $640.
I think it is a decent deal, but does anyone see an obvious issue with the "roll in" money? Thanks.
#925 of 1615 Re: Comments on this deal? [tbrown9728]
Dec 31, 2010 (7:42 am)
Looks like a decent deal to me. Good idea to roll all the costs into the lease. This MF is about as cheap as money can get.
Numbers seem to be right (for aorund 9%+/- tax)
All the roll ins seem legit. bank fee is right, you left over lease payments are what they are, and title and registration are set too.
The reason i like the roll in here is your monthly finance fee with that MF is going to be under $6. Seems like an outstanding way to borrow money to me, so why not roll everything in.
#926 of 1615 Re: Comments on this deal? [tbrown9728]
Dec 31, 2010 (8:35 am)
Hi, Can you advise the state you are getting this quote from? I have been getting good aggressive quotes like a lot of the ones posted above but the dealer I have been dealing with does not want to do anything with the 5 months I have left on my Lexus lease. I am on Long Island. Thanks
#927 of 1615 Re: Comments on this deal? [mbdealhunter]
Dec 31, 2010 (8:41 am)
I'm in Los Angeles, Ca.
My dealer refused to eat the $658...which was an indication to me that I was pretty close to hitting his limit on the price of the car. I was 7k off the sticker.
#928 of 1615 Re: Is this a good deal [cartman13]
Dec 31, 2010 (10:02 am)
I think they made a mistake but I went and bought the car last night. Here are the final numbers.
Gross Cap Cost $50093.85
Cap Cost Reduction: $203.21
Adj Cap Cost: $49890.64
Residual Value: $30987.60 (56%)
Rent Charge: 203.60
Lease payments: 36
Base Mo Payment: $530.74
Mo Sales Tax: $49.09
Total Mo Payment: $579.83
Mileage allowance: 45,000
I didn't need 15k a year but I took it anyways since it seemed to good to pass up.
Thanks for all your help.
#929 of 1615 Re: Is this a good deal [rbgonegolf]
Dec 31, 2010 (10:08 am)
Did you have any drive-off costs? Was any money paid at lease inception?
#930 of 1615 Re: Is this a good deal [tbrown9728]
Dec 31, 2010 (10:27 am)
$1500 of which $203 was toward the cap reduction and the rest was 1st month payment and the rest towards DMV fees.
#931 of 1615 Re: Is this a good deal [rbgonegolf]
by kyfdx@Edmunds HOST
Dec 31, 2010 (3:11 pm)
That looks really good..
#932 of 1615 putting tax in gross cap cost?
Dec 31, 2010 (9:57 pm)
A dealer in NJ is putting the tax in gross cap cost and not charging at the end.
Is this right?
#933 of 1615 Re: putting tax in gross cap cost? [pilot25]
by kyfdx@Edmunds HOST
Jan 01, 2011 (8:09 am)
New Jersey collects the entire tax, upfront....
You can either pay it upfront, or roll it into the CAP cost (it gets paid upfront, either way..)
I prefer to roll it in... I like to keep my upfront payment to a minimum..