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Sedans Mercedes-Benz C-Class Mercedes-Benz C-300 European Delivery
97 messages, Last post on Aug 27, 2009 at 3:15 PM
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Replying to: jrct9454 (Nov 06, 2007 6:28 am) Bingo! Absolutely correct, and don't forget the potential cost of a rental car for a week or 10 days in Europe, which is significant, at least in my income bracket. |
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Hello: I got the following terms for 2008 C300 luxury edition with navigation package lease with European Delivery Program: 39 months, 12,000 miles, residual 61%, money factor 0.031 0% down, i.e. $1,665 at sign time which includes first month lease. With EDP they also give one month free (for the time they ship the car back from Europe). Monthly payments including taxes $450.00 The dealer is in New England. Is this a good deal in your opinion? Thank you.
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Replying to: mike02 (Nov 10, 2007 5:37 pm) |
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Replying to: mike02 (Nov 10, 2007 5:37 pm) So, you will end up paying $1665 + 38 * $450 = $18765? What is your tax rate and also what does it mean 1 month free? Also, you mentioned about 61% residual value, what is that value at in terms of the actual number? Money factor 0.031 means a 3.1% APR right? I am in the market for EDP Luxury with navigation package only. I haven't really thought of leasing though. I am not really familiar with leasing terms, so pardon my ignorance. Thanks. Will
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Replying to: willy007 (Nov 11, 2007 11:38 am) Residual value is calculated from the MSRP. So the MSRP x .61 = buyout price at the end of the lease. Money factor 0.031 means a 3.1% APR right? APR = MF x 2400 so, actually, the poster meant .0031, which equates to 7.44%.
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My wife and I took European Delivery in late September 2007 on a 2008 E320 Blutec, drove about 1500 miles through Austria, Switzerland, Italy and France before dropping the car in Nice for shipment to Jacksonville. The delivery process was wonderful - friendly, smooth as silk and full of creature comforts. MB really took care of us. There are a lot of posts about whether this is a money-saving measure. It is, but in our opinion, that is secondary to the experience. I found not a lot of negotiating room on an '08 Blutec for US delivery, so the 7% + all the extras (taxi to town and to Sindelfingen, first class hotel, $100 top notch lunch at the factory, 15 days of zero deductible insurance, shipping, dealer prep, etc.) + not having to pay $2000 for a 15 day average size European car rental, made the numbers pretty friendly. The factory tour opened this engineer's eyes to what MB puts into the design and manufacture. As far as mileage goes, we averaged 34.5 mpg for mixed city/country/highway. I suspect we will see 37+ highway once it is broken in. Great car, great experience both recommended. |
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Replying to: qbrozen (Nov 12, 2007 5:57 am) Mike02, what is the MSRP on your car? I tried configuring EDP Luxury + Multimedia package only = $33,341. 61% residual value = $20,338. So theoretically, it's $13,003 loan with a down payment of $1,150 and monthly payment of $429 for 39 months (adjusted for an assumed 5% sales tax). The Edmunds financial calculator (http://www.cars.com/go/advice/financing/calc/loanCalc.jsp?mode=full) with 7.44% interest rate shows monthly payment of $343, a difference of $86 a month. I was trying to see how do we consider whether a lease option is a "good" deal. I do realize about the mileage limitation. Thank you. Will
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Paid $32,000.00 for European Delivery Price. C300 luxury with navigation package, non-metallic paint. Dealer in Massachusetts.
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Mike02, $32,000 is a very good price. How did you get that low? Thanks, Will
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Replying to: willy007 (Nov 13, 2007 10:21 am) For instance, I have 2 leases now. A Honda and a Chrylser. The cap cost on both cars was well below invoice (very very far below invoice in the case of the chrysler). The Honda lease deal at the time also included a strong residual and a very low money factor that equated to about 1.9%. At the end of the lease, the car will not be worth the buyout, but I get to give it back and walk away, and Honda Finance will lose some money when they sell the car. On the Chrysler, the rate is 0.7% and it also carries a residual higher than its true wholesale value. So in both of these cases, it was much cheaper to lease the vehicle than to buy it, at the time, and I have saved a good amount of money compared to buying and selling after 3 years. On the current rates I'm seeing with this C-class, I would not lease based on that alone. However, the residual is quite strong. Whether or not the market will support such a residual cannot be guessed. Only time will tell. |
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