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Prices Paid: Buying & Leasing Experiences Mercedes-Benz S-Class Lease Questions
134 messages, Last post on Sep 30, 2009 at 8:43 AM
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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 11:06 am) Looks to me like a 36mo/15k lease, correct?
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Replying to: ocautoseeker (Apr 23, 2008 1:55 pm) Made the deal!  Just out of curiosity, what difference would it have made if i paid cap reduction now or have it rolled to my monthly payment? Either way i end up paying the same $$ (Unless he'd bring down price of the vehicle by an additional 5k)?
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Replying to: moet (Apr 24, 2008 9:58 am) Only reason I do not recommend cap cost reductions on leases is because if your vehicle gets wrecked (totaled) or stolen, you may not be able to recover the upfront down payment you made. You may already know this, but I'll reitterate... The GAP insurance included in your lease through, in this case MBC, would cover the payoff of the vehicle, but most likely you'd be out the $5k. By making a cap cost reduction, you're essentially prepaying a portion of the deprecaition and not paying down any principle like on a purchase. In other words, there is no equity being built in a lease, therefore it's advisable not to throw any money at it. However, many people are very pyschological when it comes to payments, so if the payment suits you and you had no problem laying out the $5k, and you're happy, then that's all that really matters. Again, congrats - beautiful vehicle!
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Replying to: ocautoseeker (Apr 24, 2008 5:32 pm) Thanks again!
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Replying to: moet (Apr 26, 2008 6:26 pm) |
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In terms of good deals out there. The deals right now on high line vehicles are very good. The germans have announced that they will be changing the way they do buisness in the near future. Our economy and dollar is so very bad right now. They are going to raise the prices of the vehicles, and cut production. So now is the time to buy before dealers are not going to want to discount vehicles at all. The car industry is going to go through some major changes in the next year or so. So grab the deals while you can, because who know what the future brings.
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I am in the process of negotiating a lease assumption on a 2008 Mercedes S550 4Matic in Long Island, NY. The car has the Premium II Package, iPod Integration, and Wood/Leather Steering Wheel. There are only 400 miles on the car and 38,600 miles to be driven over 34 months. The payments are $1585 per month (includes 8.625% sales tax) and there is $0 due at signing (current owner is willing to pay $595 transfer fee). What do you think? Can I do better? |
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Replying to: juice1220 (Aug 25, 2008 11:14 am)
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Replying to: skrontz (Sep 06, 2008 8:57 am) Yes I am a dealer. I work for a BMW dealer, and I worked at Mercedes Benz before this. August 1st BMW did announce what I wrote before. Discounts will not happen as lightly as you think. Every company is in business to make a profir, and the profits bmw and mercedes are generating lately are not that good. Especially when they are taking huge hits on the lease turn ins. Go to bmw or mercedes benz websites in Germany and see how much an s class or 7 series is in euros. Its about the same. Plus they pretty much buy all their cars in europe so residuals really dont come into play, and the extra cost of shipping and insurance, blah blah blah. Mercedes Benz and BMW were once considered a high line vehicle, and were not mass produced as they are now. over the past 2 months BMW residuals have dropped 5-8% across the board. Leases have actually gone up. The car business will change dramaticaly in the next year or 2. Oh and the msrp of the vehicles for 2009 has increased already. The only thing that is going to happen is alot of dealers will be closing shop, because they will not be able to sell as many cars, I know you probably dont care, but the less dealers, the less chance for you to shop from dealer to dealer, which means less discount. I am in a bullet proof area in terms of the economy, but many many dealers will be hurting in a big way. We can talk more about this in about a year. Plus how cheap do you really expect a $90,000 S-class to get?? Its not meant for everyone to have one in their driveway.
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