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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
You are in the Prices Paid: Buying & Leasing Experiences Forum. Your Hosts are car_man & kyfdx
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Replying to: rclassfan (Apr 29, 2006 1:53 pm) I would call the Dealer immediately and talk with the Finance Manager. Tell him that there is a typographical error in the Lease Contract and have him correct it. If you don't get a satisfactory answer, call Mercedes-Benz Financial. In the 20+ years that I have been leasing from Mercedes-Benz, I have never seen or heard of a Lease Contract that asks for a payment in 2 days. Your lease must end on 7/28/2008 and your first payment should be due on 5/28/06. Let us know how MB resolves this. Zaheer
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Replying to: zaheer (May 01, 2006 5:21 pm) Many thanks for the reply. We went back into the dealership today and they amended the lease such that the first payment is now due in 30 days. However they still refused to change the end date of the lease saying that the "end date" on the standard MB Financial Form is the date the last payment is due and not the end date of the lease, and they always date payments to the first of the month. We had a different finance manager and while the original this morning on the phone said it was no problem and he normally writes over this and initials it but "forgot" to in our case, and it is a "glitch" in their system that they cant avoid, the finance manager tonight was incredibly rude and said "well I can't change this at all as MB Financial wont accept it if we do... you can walk away from the lease if you want to and Im leaving now" and he promptly walked out of the office. I went to the GM's office who said he agreed the wording was confusing but he'd never heard of anyone raising it before. In the end he agreed to write a letter stating that while the last payment was due on the 7/1/2008 the car does not have to be returned until 7/30/2008. It still seems odd it's not on MB Finance lease agreement but again they point blank refused to change it. Once we pick up the car (they didnt get round to do the RMV paperwork today and offered dealer plates but we decided to pick it up tomorrow despite paying for the car on Saturday) we'll follow up with MB Financial directly.
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Is the AMG sport package cool and worth the extra money? Unfortunately, I have not seen one with it but considering it as I am trying to negotiate. Could you post the dealer info per the rules where you got yours "You may include the dealership name, city and state in your post" |
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Replying to: rclassfan (May 01, 2006 5:53 pm) I have my Lease Agreement from March 2006 from MB Financial in front of me. On the top left side, it states the date of the lease, the scheduled term, and the scheduled date the lease ends. The "lease end" date is not the beginning of a month or less than the full term of the lease. This form is for California; perhaps the form for your state may be different. However, I would get this resolved with MB Financial now so that you don't run into problems at the end of your lease. Zaheer |
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Hi Shingja, I plugged in your figures in the Lease Formula and here are the numbers: MSRP $58675 Gross Cap Cost $47024 ($10,856 below MSRP) Adjusted Cap Cost $47,819 (+$795 Lease Inception) Cap Cost Reduction - $569.25 (from drive-off) Money Factor - 0.00285 Residual - 70% ($41,072.50) 12000 miles per year Payment $480.51 + Tax I am making some assumptions here regarding Money Factor, Lease Inception charge and Residual. Your Residual, I believe should have been 72% based on 12K miles. If it is 72% ($42,246), the payment is $440.39 + tax. Check your Lease Agreement for the Residual Value (Section 6d). This will help to pin it down further. There is at least another $500 in the drive-off; I am not sure where that went. It looks like a good deal. It would be nice for you to understand how they came up with the numbers. Zaheer |
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Shingia, Looks like you got a sweet deal. Did you go through any particular website, or did you just email several dealers with your requirements? I'm looking for a similar deal in Texas.
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Replying to: qkslvr (May 05, 2006 6:29 am) Thanks. |
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I tried that page, but they didn't have any dealers to use. I just negotiated my deal by emailing a couple of local dealers back and forth. 2006 r350 Barola Red and Macademia panorama roof pkg comfort pkg entertainment pkg rear side airbags 3zone climate control upgraded wheels heated seats (no need in TX) power liftgate msrp 57905 selling price 50700 total driveout $2340 27 month lease 12K miles  $599 money factor .00280 In effect, they credited $3500 off driveout for sales tax (texas charges full sales tax upfront), so total discounts work out to $10700 off MSRP. Picking it up Monday! |
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