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Prices Paid: Buying & Leasing Experiences Mercedes-Benz S-Class Lease Questions
123 messages, Last post on Oct 04, 2008 at 8:19 PM
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Replying to: blackmamba24 (Feb 12, 2008 9:29 am)
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Replying to: danf1 (Feb 12, 2008 11:00 am) So what do you think is a good lease rate given the 3000 dollar cash incentive for a 39 month lease with taxes included, of course...(and i do have the current lease through MBF so it will apply, which is nice). Any help would really be appreciated, thanks Danf1 and Eight38 O, and you know whats really ridiculous...I requested a quote on some various MB dealer websites and some responded via voicemail...so i called them back and 2 out of the 3 did not want to discuss prices or really anything over the phone. They just wanted me to come in. What is the point of an online quote request if they are going to be so pushy to come in. I know exactly what I want, all the options, everything, but they won't discuss anything over the phone...The only dealer that was very upfront with everything was a dealer that was out of state. What do you guys think about buying/leasing through an out of state dealer (what is the best way of getting the vehicle...besides flying there to pick it up)...thanks again guys. sorry for all the questions, i just don't want to be ripped off and you guys are very knowledgeable. thanks
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Replying to: blackmamba24 (Feb 12, 2008 11:54 am) |
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Replying to: blackmamba24 (Feb 12, 2008 8:12 am) 2008 Mercedes S550 4matic Sedan 24 Month – Residual 62% of MSRP – .00365 36 Month – Residual 53% of MSRP – .00330 48 Month – Residual 42% of MSRP – .00330 60 Month – Residual 37% of MSRP – .00330 Numbers assume 10k annual miles. As you can see, MBC has crummy rates on this model right now. You might try leasecompare.com or your local bank or credit union as an alternative.
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Replying to: ocautoseeker (Feb 14, 2008 11:37 pm)
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Replying to: gmannj (Feb 15, 2008 5:23 am) -Just the price out the door that you think i should be aiming for paying straight up cash...i've decided that financing through my own bank is better than MBF, but ive decided that buying versus leasing makes the most sense for me currently... Any help on a target price would be greatly appreciated...i know the whole between dealer invoice and msrp target...but i also know there are hidden extras and all that stuff...regardless, im not looking to get the car free or anything but im not into getting ripped off, which i know i did in 2000 when i leased my other S Class...then was able to get a pretty good deal on my lease in 2004 for an S Class...but now im looking to buy so i haven't really been too concerned with price in the past...help me out, please...thanks |
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Can someone explain something to me... For example, if the msrp of a particular S Class was $95,500 and the residual after 39 months was around 50% (according to the info above) and the dealer invoice is somewhere around 89,500, then why is the lease around 1500 a month plus around 5000 down...i just don't understand this... That means that after i have taken this car for 39 months, i have paid around 63,500 (including the 5000 down) and when i return the car back to the dealership, the car is still worth around 47750...that means that the car should have been worth around 111,250. (63,500+47,750). Why isn't the lease per month more along the line of 1250-1300...thats a total ripoff...am i missing something? Even if the lease per month was 1300 with nothing down for 39 months...i still play around 50,700 (the residual is still 47750) and the apparent total worth of the car would have been 98,450...thats still about 10,000 over dealer cost...what gives?
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Replying to: blackmamba24 (Feb 15, 2008 4:02 pm) So, assume an MSRP of $96,000 and you want to lease for 36 months. You take the residual (50%) and multiply it by the MSRP. In this case, the residual value (estimated price of the vehicle at lease-end) is $48,0000. Now, say you negotiate a cap cost (hypothetically, a selling price) of say, $91,000. There is a spread of $43,000 (the depreciation), so you simply divide $43,000 by 36 (the number of months in the lease term). You get a base payment of ~$1195/mo. But, now you have to add in the rent charge (finance charge). With MBC's current buy rate  .00330 (7.92%), you will multiply that number by the sum of the residual and cap cost. $48,000 + $91,000 = $139,000 x .00330 = $458.70. This is your monthly finance charge. So now, take your base monthly payment of $1195 and add the finance charge of $458.70 and you get a pretax monthly payment of $1653.70. Then, depending on your state, you can have the sales tax broken down into your monthly payments. So, assuming a 6% sales tax, that adds another $99.22/mo to your payments giving you ultimately a payment of ~$1753/mo The bottom line: you simply paid the $43,000 in depreciation + interest. Obviously, this vehicle has a crummy money factor through MBC currently and thus why you paid $20k total in finance charges. Any cap cost reduction (down payment) simply lessens the spread, ultimately giving you lower monthly payments. Large cap reductions are not a good idea when leasing. Hope this makes sense? |
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S550 4matic 2008 PII package Ipod Integration Wood/Leather Steering Total Cost = 97,665 Markup = -10,268.34 Total Selling Price= 87,396.66 Cap Red = 5825.92 Total Cap Red = 81,570.74 Capped Taxes = 3,761.30 Total Capital Cost = 85,332.04 Monthly payment = 1,310/mo (with tax) Total out of pocket = 8,800.01 (includes 1st monthly payment, taxes, fees, etc.) Residual = 47,160 Money factor = 0.0025 Not much haggle with the sales person. Just told him what i was expecting to pay and he worked the numbers (this is in NJ btw). Good deal or Bad deal?
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Replying to: moet (Apr 23, 2008 12:06 pm) Looks to me like a 36mo/15k lease, correct?
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