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You are in the Prices Paid - Buying & Leasing Experiences
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Mercedes-Benz R-Class, Mercedes-Benz R63 AMG, Car Leasing, Wagon, SUV
#421 of 803 Re: Mercedes-Benz R-Class: Lease Questions [kyfdx]
May 14, 2007 (6:38 am)
I need help as quickly as possible. I looked at the R-350 on Saturday and this is the best deal I could work:
544 Barolo Red
144 Macadamian MB Tex interior
H04 Birdseye trim
R44 17" wheel Package
396 Voice Recognition/CD Changer
530 DVD Navigation
873 Heated Front Seats
Destination & Delivery: $775
Now, here are the lease details:
Tier 2 Credit (BUMMER!)
Negotiated Price: $48,895 (He said this was $500 above invoice, but I think it's $900 above)
Fees & Insurance: $484
Upfront Taxes: $203.08
Disposition Fee: $595 (What is this?)
Cap Cost Reduction: $5000
Miles Per Year: 10,000
Lease Term: 33 Months
Money Factor: .00055
Residual: Total Initial Charges Due At Signing: $6,943.46
MONTHLY LEASE PAYMENT: $494
I do not know if this is a good deal. I would love to lower both the monthly payment and the Cap Cost Reduction. I would also like 15,000 miles per year. I know that my credit is hurting me, but can I do better? If so, what part of the above deal can I improve? Sale price? Perhaps more options? Leather seats Also, I ***REALLY*** want this car in EVEREST GREEN. The salesman told me (and let me look at the computer) that there were no R350's in that color at all in the Northeast (I'm in New Jersey and this was Mercedes Benz of Princeton). Can I ask him to expand his search to include the entire country, and if so, will it cost me more? He told me that I cannot order it because I would have to order a 2008 vehicle, which would not be ready until probably September.
Please help me! I am on a tight budget, but I'd really like to get this car (I am also looking at the ML 350). Any advice that can help me save money would be GREATLY appreciated!!!
David in New Jersey
PS. I am scheduled to go back to the dealer tomorrow with my wife, so I can take her for a test drive, so please hurry; I'd like to "armed" with as muck knowledge as possible when I go!
#422 of 803 Re: Mercedes-Benz R-Class: Lease Questions [dwws]
May 14, 2007 (9:49 am)
I forgot to mention that at first the salesman said they would pay my last monthly payment on mh Hummer H2 (June) but then, after our negotiations, he said that the deal he was giving me was so good that the dealership would not be able to pay my last lease payment. Is this just b.s.?
David in NJ
#423 of 803 Re: Mercedes-Benz R-Class: Lease Questions [dwws]
May 14, 2007 (7:16 pm)
Is the MSRP of the car $51,550? If so the upfront costs seem excessive especially the cap cost reduction of $5,000. And the 33 months is a bit odd? Do u know if you are going through a private bank or through MB Credit. Also are you sure you only qualify for Tier 2 credit? I just leased an R350 and the MSRP was $54,200 and the capitalized cost (selling price) was $49,500 and my monthly payment is 568 and change. The disposition fee is standard from MB credit. Also if you divide the $5,000 cap cost over 33 months, its 151.52 per month, add that to your $494 per month and your at $644.52 per month. I think you can do better, but I dont know the penalty for tier 2 credit. Maybe your wife will qualify for tier 1? Here are may's lease factors from MB credit (tier 1). The money factor you posted above is for tier 1 for 24 months (see below). Something does add up here so I'd investigate a bit more and possibly visit another dealer...
2007 R350 4WD Wagon
24 Month – Residual 62% of MSRP – .00055 Base Rate
36 Month – Residual 54% of MSRP – .00100 Base Rate
48 Month – Residual 47% of MSRP – .00100 Base Rate
60 Month – Residual 40% of MSRP – .00370 Base Rate
Residuals posted are for 15K miles/year. Add 2% to Residual for 12k mi/yr and 3% for 10k mi/yr on all terms
#424 of 803 Re: Mercedes-Benz R-Class: Lease Questions [dwws]
May 14, 2007 (7:17 pm)
Yes its a bunch of B.S. in my opinion. Also when you go back get the following information:
Cap Cost (with and without cap cost reduction)
Post up and someone can run the numbers and let you know if its in line.
#425 of 803 Re: Mercedes-Benz R-Class: Lease Questions [sand529]
May 14, 2007 (11:04 pm)
Yes, the MSRP is $51500. The salesman said that Mercedes does not lease for 36 month terms. He said they use 33 months or 39 months. I do not know if that is true, but the advertised offer for May 2007 on the Mercedes Benz website of $489/month for an R350 with P1 package & heated fron seats is for a 33 month lease (with a similar deal of $549/month for an ML350 with P1 package and heated fron seats). Both of those deals require a cap cost reduction; $2750 for the R350 and $2850 for the ML350. Also, He told me that the selling price of $48,895 was $500 above his invoice price, but this afternoon I told him that it seemed to me that it was $900 above his invoice he told me that the $400 difference was some sort of fee that all Mercedes Benz dealers are required to pay when they participate in an advertised lease deal or something like that. I am not happy that I was not told about that fee upfront, because $48,895 is NOT $500 above his cost, it is $900 above. How can I find out if this "fee" is real or just him padding his profit? I also asked if there were any factory-to-dealer incentives or "holdbacks" of any kind and he said no, but I don't know how to find out if he is telling the truth. How long is your lease on your R350? Did you make a cap cost reduction? Also, where did you find the published Mercedes lease factors (residulas & money factors)for Tier 1 credit for May? Is there alist of Tier 2 lease factors? Lastly, How do I know if I only qualify for Tier 2 credit? I know that my credit is not perfect, but the salesman is saying that he is going to try to talk to his business/sales manager and get me "bumped up" to Tier 1 credit; how can he do that? Am I being suckered? I really need to know, because if I am, I will go elsewhere. Any suggestions?
David in NJ
#426 of 803 2008 Changes/Lease deal
May 15, 2007 (5:01 pm)
Hello, Does anyone want to take a quess on what/how the 2008 is going to be price/packages? I have some time until I have to get out of my current lease but might want to pull the trigger this month (unless some one thinks next months deal would be better)with the good deals out there.
Thanks for any help. Mike in NJ.
#427 of 803 CAN I GET AN OPINION ASAP ??? THANKS
May 20, 2007 (11:23 am)
Quote for an R-350 w P1 & PARKTRONIC , 33 mth, 17.5k miles, 3K total out of pocket, $620 plus tax
FACTOR IS .00055
STICKER LIKE $48,760
What do you guys think ?
#428 of 803 Re: CAN I GET AN OPINION ASAP ??? THANKS [fletch58]
May 22, 2007 (4:26 am)
looks high, what is the resididual with 17.5 K miles?
#429 of 803 Re: Car Man, et al please comment on deal [svrlin]
Jun 06, 2007 (1:27 pm)
I got min in May.
07 R350 Pewter / Macadamia interior
Petwer paint, upgraded wheels, Lighting package, entertainment package, navigation.....basically fully loaded.
CAP COST 51000. (6000 down)
24 months/ 12000 miles
$560/month (tax included)
I too was wondering on the Wear and tear coverage.
#430 of 803 MF/Resid for June, 33 month lease?
Jun 18, 2007 (7:38 am)
Can you post the "special" 33 month MF and Residual for the R350? 15K miles.