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Prices Paid: Buying & Leasing Experiences Mercedes-Benz R-Class Lease Questions
740 messages, Last post on Aug 11, 2009 at 1:52 AM
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Replying to: howard2dot0 (Jun 09, 2006 6:44 pm) Wayne
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Replying to: qkslvr (Jun 10, 2006 7:24 am) Thanks for the info. I'll drive to Sugarland soon. I am fairly new to leasing. I leased a $30,000 Nissan Quest for $410/month with no money down 3 years ago and I was looking to lease another minivan (Honda Odyssey) for $309/month with $3200 down until I saw this MB special. I couldn't believe I could lease a $55,000 car for just $90/month more! My question is: how often do these companies offer a lease deal like this on luxury cars? (There is even a $399/month lease on Volvo XC90.) If I pass this R350 deal up now, will I ever see something like this again in 2 or 3 years?
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Replying to: howard2dot0 (Jun 10, 2006 12:44 pm) we looked at the xc90 also, but we couldn't pass up this deal on the r350. This leasing deal is so attractive because the residual is high (70-73% depending on annual mileage ), discount is great ($5k-10K off MSRP), tax credit is available (pay 1% fee to eliminate 6.25% tax) and money factor is low (.00285). Our payments would have been $20 lower with 10k miles per year, but we went with 12k miles per year. I did all my negotiations thru email, then went down to the dealership, had them find me the car I wanted, and signed the papers that day. Whether things change in 2-3 years depends on the auto market in general. The R350 inventories have been high, hence the big discounts and lucrative lease deals.
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Replying to: qkslvr (Jun 11, 2006 7:53 am) Please let me know how the tax credit works. I am in IL that also has the same unfair lease tax structure as TX and would like to know if that might apply here. What's the 1% fee on and how does it affect the saes tax? Thanks!
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Replying to: qkslvr (Jun 11, 2006 7:53 am) I just emailed Sugarland MB and told them that the "cargo net" guy from the Woodlands sent me. Let me run something by you. If they can find a base R350 with no options at MSRP $48775, then should I offer them the following terms? Sales Price: 48775-10000=38775 Sales Tax: 6.25%=2423 Cash Down Payment: 0 Lease Term: 27 months Residual: 73%=35606 Money Factor: 0.00285 Miles/year: 10000 ------------------------------------- Monthly Payment: $371.13 Does this look right?
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Replying to: fq1 (Jun 11, 2006 10:20 am) From what I understand, the leasing companies in Tx are allowed to use any excess or unused trade-in credits against new car purchases. So they allow the dealers to apply the trade in against the leasing company's purchase. The dealer charges a 1% fee to give you the credit. |
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Replying to: howard2dot0 (Jun 11, 2006 6:54 pm) my calculation on your offer would be $330+$90 tax=$420 you will still owe the acqusition fee of $795, 1st payment, 1% tax offset, plus registration. My down payment was $2340, $7k off sale price plus $3k tax credit. I doubt they will give you $10k off plus $2.5K for the tax reduction, but you can try. A base car will be hard to find, you can check dealers' inventories online to see what they have. Almost every one I saw had at least $3k-5k in options. The lowest payment I've seen on an r350 is about $450.
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Replying to: qkslvr (Jun 12, 2006 4:51 am)
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Replying to: chint (Jun 12, 2006 6:12 pm) I turned down the deal because although it is a good deal for a $50k car, I don't want to spend $500/month. If they offered me $420/month with $2500 at signing, I would have pulled the trigger. Oh well, back to minivan shopping, I guess. I will wait to see if MB will have even better deal in coming years.
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Replying to: howard2dot0 (Jun 12, 2006 7:27 pm) sorry things didn't work out. I guess I caught them at the right time last month. The dealers had a $5k incentive back then from MB to move the R, don't know if that is still out there anymore. You might call them back near the end of the month, the 2007s will be out soon and they will need to make room for them. |
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