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Mercedes-Benz CLS-Class Lease Questions

43 messages,  Last post on Feb 20, 2009 at 8:54 AM

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What is this discussion about? Mercedes-Benz CLS-Class, Mercedes-Benz CLS55 AMG, Mercedes-Benz CLS63 AMG, Car Leasing, Coupe, Sedan

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#8 of 43 Re: Leasing vs buying Mercedes CLS 500 [toshsk8] by Car_man HOST Feb 20, 2006 (3:14 am)
Replying to: toshsk8 (Jan 12, 2006 3:25 pm) Whether it is a good idea to lease or buy really boils down to how good the lease program is on the vehicle that you are interested in. Traditionally, Mercedes-Benz has not provided any sort of lease support on the CLS and I would have said that you would be better off not leasing it. However, a few weeks ago Mercedes introduced the first lease support that I have seen on the CLS500. This makes it a little more attractive to lease, but its program still isn't that great.   Whether you will pay more to lease this car and buy it versus just financing it to begin with depends upon two main factors. The interest rate that you will have to pay to finance it versus lease it and whether you believe its residual value is accurate.   Mercedes-Benz Credit's current lease money factor for the '06 CLS500 is .00300. When one converts this to an interest rate is is equivalent to around 7.2%. Even with the new lease support, there is no advantage to leasing interest rate wise because you should be able to get a rate that is at least this low to finance this car if your credit is in good shape.   The other factor that I mentioned is this car's residual value. Mercedes-Benz Credit's current 36 month, 15,000 mile per year residual value for the '06 CLS500 is 62%, which is pretty solid. If you lease and this car ends up being worth less than this after three years, you come out ahead because you miss having to pay for all that depreciation. Of course, this assumes that you walk away from your car at the end of your lease and do not pay its inflated purchase price.   After all this, I am fairly neutral on this car's lease program. It's not great, but it's not horrible either. You can't really go wrong with either leasing or financing.   Car_man Host Smart Shopper / Prices Paid Forums
#9 of 43 Re: CLS500 Lease Price [nc2] by Car_man HOST Feb 20, 2006 (3:16 am)
Replying to: nc2 (Jan 27, 2006 11:16 am) Hi nc2. You are smart to compare the cost of leasing a brand new CLS to the cost of assuming this lease. I would be happy to give you an idea of how much it will cost you to lease a new one right now, however in order for me to do so I need you to provide me with the MSRP and approximate selling price of the car that you want. Let me know and I'll tell you what the payment should be.   Car_man Host Smart Shopper / Prices Paid Forums
#10 of 43 cls 500 lease for march by namja007 Mar 09, 2006 (4:20 pm)
Is the mf .0030 and residual still 62 percent for 36/15k I was at the dealership today. and he was saying the residual for 39 months was 62 percent. can you tell me the residaul for 39 compared to 36 months. Also how does the taxes work on lease in New york. I have leased a bmw and is going to finish this may. I always thought the 8.625 % tax was multiplied on the lease payment. However this dealer says that when calculated it is with a tax adjusted cap cost.   Here are the numbers hope you can help with all my questions. thank you   39 month/ 15k a year   msrp $76784 Purchase option 46,950.08 (doesn't make sense with the residual)........capcost 72,809 . he states out of pocket $1421.54 and $1159.04 a month. can you calculate the numbers. thanks Replies to this message: Car_man (Mar 20, 2006 4:26 am)
#11 of 43 Re: cls 500 lease for march [namja007] by Car_man HOST Mar 20, 2006 (4:26 am)
Replying to: namja007 (Mar 09, 2006 4:20 pm) Hello namja007. Mercedes-Benz is actually providing lease support on the CLS500 for a change this month. The money factor and residual value that you were quoted for this car are correct. Mercedes-Benz Financial has a special program called "Value Added" that allows the use of 36 month lease parameters for 39 month leases, providing a lower lease payment. So, the numbers would be exactly the same for a 39 month lease of this car right now. Using the prices that you mentioned in your post, an MSRP of $76,784 and a selling price of $72,809, I estimate that this car would have a 39 month, 15,000 mile per year, zero down, pre-tax monthly payment of around $1,008.   I am not personally all that familiar with how sales tax is calculated on leased vehicles in your area, but you may be able to find out more information on this subject by visiting one of the following sites: New York State Department of Motor Vehicles Internet Office or New York State Department of Taxation and Finance.   Car_man Host Smart Shopper / Prices Paid Forums
#12 of 43 Tax by rbirns1 Mar 22, 2006 (10:34 am)
In NY, sales tax on leases are calculated:   (Pretax lease payment) X (tax rate) X (number of months).   A $1,000 lease payment on a 36 month lease, in an area with 8% sales tax, would have a total tax of $2,880. This amount is payable up front.   Most people "roll" the tax into the payment, which just means the dealer will add that $2,880 to the amount being financed. Interest will be charged at the same money factor as the rest of the lease.   If you have a favorable money factor (which you probably do, otherwise the lease itself would be a bad deal), then it makes sense to roll the tax into the payment and keep that money in your pocket. For one thing, if you get out of that lease early (including involuntary reasons like theft or total loss), then you will have wasted money by paying the tax upfront.   My rule of leasing is to roll everything into the payment and pay as little as possible upfront, usually just security deposit and DMV fees. Never put money down on a lease, and don't pay taxes upfront. Replies to this message: Car_man (Apr 04, 2006 2:07 am)
#13 of 43 Re: Tax [rbirns1] by Car_man HOST Apr 04, 2006 (2:07 am)
Replying to: rbirns1 (Mar 22, 2006 10:34 am) Thanks for the great information, rbirns1.   Car_man Host Smart Shopper / Prices Paid Forums
#14 of 43 Mercedes CLS 500 Lease Money factor negotiable? by johnnygxp Apr 15, 2006 (8:27 pm)
Hi Car Man, Thanks for taking the time to help me out. I have been shopping a CLS 500 lease at a few dealers in Miami-Dade County. I have a quote from one dealer. MSRP including destination ($775) and gas guzzler tax ($1300) is $74,675, selling price is $71,593. I have a 758 FICO. Can you work up a lease payment for me for 36-39 months, 12,000 miles and 15,000 miles? with $2000 down? This dealer gave me an estimated payments worksheet that looks like the payments are padded; $7500 down, $1039/mo for 39 months. I'm assuming the residual is set in stone by MB at 62%? I've read in earlier posts that the money factor is .0030. Another dealer worked up payments for me and used a .0045 money factor. Is the money factor negotiable? They also included a dealer fee of $600. Is this standard or padding? When calculating the lease is the gas guzzler tax and destination charge included in the MSRP? Thanks a lot!!   Take care, John Replies to this message: namja007 (Apr 17, 2006 7:36 pm)
#15 of 43 Re: Mercedes CLS 500 Lease Money factor negotiable? [johnnygxp] by namja007 Apr 17, 2006 (7:36 pm)
Replying to: johnnygxp (Apr 15, 2006 8:27 pm) johnnygxp check your email that is an awful deal.
#16 of 43 Leasing a CLS500...good deal or bad deal??? by sonyaheno Apr 30, 2006 (6:35 pm)
Hello Car Man,   My husband and I are trying to lease a CLS500, MSRP was $69,000 and we negotiated it down to $62000...Our credit is 718 and they wanted $2584 down, $872 per month for 39 months 12000 miles per year. Is this a good deal or should we continue to shop around?
#17 of 43 Any Latest Updates on Buying Experience? by gshocksv Jul 27, 2006 (4:45 pm)
Looks like this board does not generate too much traffic. I am looking to buy a CLS 550 in the next month or 2, I am just wondering how everyone's doing on their price negotiations? The salesperson I talked to told me he could get very competitive pricing on 06 CLS 500s, close to the invoice.... which sounds really tempting to me, but the new CLS 550 has 80 more horsepower, which is going to be very hard for me to ignore. The differencce between the 06 CLS 500 and 07 CLS 550 is probably going to be around $5,000 for the same level of equipments, perhaps more, does anyone have any opinions? Replies to this message: johnnygxp (Jul 27, 2006 6:13 pm) gshocksv (Jul 31, 2006 11:18 pm)

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