fighting money factor
Thread Starter
Member
Joined: Feb 2007
Posts: 87
Likes: 0
From: NYC Metro Area, NJ
2000 BMW X5
fighting money factor
Hey, I have a situation for everyone to help me tackle.
I would like to do a 36/39 month lease on a C300 Sport.
I need:
Black Exterior
Auto Tranny
Multimedia
iPod
I want:
Grey Interior
Premium 1 Package
I have been dealing with Ray Catena and Morristown here in Jersey. I will not lease a car at 00315 because I refuse to pay a interest payment as high as a depreciation payment. A BMW 3 is at 00140 so double is ridiculous. My salesman at Ray Catena is telling me I need to order a car ASAP, because then i can get my car in December, where historically the best lease deals are. I am a little confused by this, and I wanted to ask you all if you know this is true. I have to guess which month to have my car arrive in to get the best deal? Sounds kinda sketchy considering how much money is involved in the guess!
Being 22, I brought this to my father. He tells me September is not the time to do any negotiating. He wants to go into a dealership in December or January and just sign the deal then, and have the dealer find me a car. Is this possible? I listed above my needs, which are the things I won't live without. Can my dealer A) have inventory of that car without it being attached to another customer, or B) trade with another dealership? Can I get my wants, or the things I would like to have on the car but I can live without, as well?
This is my first lease, and the whole gamble it appears to be is a bit confusing...
Thanks for explaining this all, which will probably take an essay...
I would like to do a 36/39 month lease on a C300 Sport.
I need:
Black Exterior
Auto Tranny
Multimedia
iPod
I want:
Grey Interior
Premium 1 Package
I have been dealing with Ray Catena and Morristown here in Jersey. I will not lease a car at 00315 because I refuse to pay a interest payment as high as a depreciation payment. A BMW 3 is at 00140 so double is ridiculous. My salesman at Ray Catena is telling me I need to order a car ASAP, because then i can get my car in December, where historically the best lease deals are. I am a little confused by this, and I wanted to ask you all if you know this is true. I have to guess which month to have my car arrive in to get the best deal? Sounds kinda sketchy considering how much money is involved in the guess!
Being 22, I brought this to my father. He tells me September is not the time to do any negotiating. He wants to go into a dealership in December or January and just sign the deal then, and have the dealer find me a car. Is this possible? I listed above my needs, which are the things I won't live without. Can my dealer A) have inventory of that car without it being attached to another customer, or B) trade with another dealership? Can I get my wants, or the things I would like to have on the car but I can live without, as well?
This is my first lease, and the whole gamble it appears to be is a bit confusing...
Thanks for explaining this all, which will probably take an essay...
Junior Member
Joined: Mar 2007
Posts: 47
Likes: 0
From: Libertyville, IL
08 ML350, 00 BMW 323i
Don't Order
Watch this forum for updates to the lease rates. Check out leasecompare.com for lease rates. When the rates are low go see the dealer and negotiate a money factor as close to the base rate as possible and the lowest price for the car as possible. Shoot to get at least 6%-7% off MSRP. If you get the real base rate, the advertised residual (which the dealer can't alter), 6%-7% off MSRP you are getting a decent deal. Also don't let them markup the Mercedes $795 aquisition fee. Put as little down as possible. Only pay drive offs, if that, try to put $0 down.
I just leased an ML350 in September, $645/month
The money factor was .00205, the residual based on 33 months and 12,000
miles is 63%, the MSRP is $50420.00 The cap cost was $46253.42.
I paid the drive offs up front: 1876.78 = $645.42 first month payment, the $795 bank fee, the $366 first year registration
I just leased an ML350 in September, $645/month
The money factor was .00205, the residual based on 33 months and 12,000
miles is 63%, the MSRP is $50420.00 The cap cost was $46253.42.
I paid the drive offs up front: 1876.78 = $645.42 first month payment, the $795 bank fee, the $366 first year registration
Thread Starter
Member
Joined: Feb 2007
Posts: 87
Likes: 0
From: NYC Metro Area, NJ
2000 BMW X5
well that is what confuses me... can i walk in on december 2nd and make a deal? will i be at the mercy of what cars are available in the dealership at that moment?
from what i have heard from the salespeople, i cannot make the deal and THEN order the car. I have to more or less be driving away with the car to get that months money factor.
I am going to try to negoiate above invoice as opposed to off MSRP, because I do not want the dealer maiking money on my options. I plan to put nothing down, and we are smart enough not to let the dealer do any funny business with aq fees...
on one note... what is a drive off? all the taxes and fees that go with the car?
from what i have heard from the salespeople, i cannot make the deal and THEN order the car. I have to more or less be driving away with the car to get that months money factor.
I am going to try to negoiate above invoice as opposed to off MSRP, because I do not want the dealer maiking money on my options. I plan to put nothing down, and we are smart enough not to let the dealer do any funny business with aq fees...
on one note... what is a drive off? all the taxes and fees that go with the car?
Member
Joined: Jan 2006
Posts: 83
Likes: 0
It would be hard to get a decent lease deal on a car that is just coming out after 7 years as a fresh model. You will probably be able to get a better deal on an E or get a better vehicle in the 335i (lower payments on both relative to the new C).
Hey, I have a situation for everyone to help me tackle.
I would like to do a 36/39 month lease on a C300 Sport.
I need:
Black Exterior
Auto Tranny
Multimedia
iPod
I want:
Grey Interior
Premium 1 Package
I have been dealing with Ray Catena and Morristown here in Jersey. I will not lease a car at 00315 because I refuse to pay a interest payment as high as a depreciation payment. A BMW 3 is at 00140 so double is ridiculous. My salesman at Ray Catena is telling me I need to order a car ASAP, because then i can get my car in December, where historically the best lease deals are. I am a little confused by this, and I wanted to ask you all if you know this is true. I have to guess which month to have my car arrive in to get the best deal? Sounds kinda sketchy considering how much money is involved in the guess!
Being 22, I brought this to my father. He tells me September is not the time to do any negotiating. He wants to go into a dealership in December or January and just sign the deal then, and have the dealer find me a car. Is this possible? I listed above my needs, which are the things I won't live without. Can my dealer A) have inventory of that car without it being attached to another customer, or B) trade with another dealership? Can I get my wants, or the things I would like to have on the car but I can live without, as well?
This is my first lease, and the whole gamble it appears to be is a bit confusing...
Thanks for explaining this all, which will probably take an essay...
I would like to do a 36/39 month lease on a C300 Sport.
I need:
Black Exterior
Auto Tranny
Multimedia
iPod
I want:
Grey Interior
Premium 1 Package
I have been dealing with Ray Catena and Morristown here in Jersey. I will not lease a car at 00315 because I refuse to pay a interest payment as high as a depreciation payment. A BMW 3 is at 00140 so double is ridiculous. My salesman at Ray Catena is telling me I need to order a car ASAP, because then i can get my car in December, where historically the best lease deals are. I am a little confused by this, and I wanted to ask you all if you know this is true. I have to guess which month to have my car arrive in to get the best deal? Sounds kinda sketchy considering how much money is involved in the guess!
Being 22, I brought this to my father. He tells me September is not the time to do any negotiating. He wants to go into a dealership in December or January and just sign the deal then, and have the dealer find me a car. Is this possible? I listed above my needs, which are the things I won't live without. Can my dealer A) have inventory of that car without it being attached to another customer, or B) trade with another dealership? Can I get my wants, or the things I would like to have on the car but I can live without, as well?
This is my first lease, and the whole gamble it appears to be is a bit confusing...
Thanks for explaining this all, which will probably take an essay...
Almost a Member!
Joined: May 2005
Posts: 71
Likes: 0
Your dealer is not lying. You can order the car now but the money factory and residual is determined by the month you take delivery which you won't know until they actually publish the rates for that month(these rates are updated monthly). It is a gamble but I'd feel safe in knowing it won't be any higher then it is now.
Your father gives wise advise. Right now is not a good time. December will be when you can get the deals. MB always has the Winter Savings event to combat Lexus which has their huge winter promotion as well.
The only risk I see is being able to get a car you want from the dealer lot. Ray Catena usually has a healthy inventory level. Prestige in Paramus usually has a better selection and their pricing is more aggressive. Most dealers will carry a large inventory of C and E classes so I don't think it will be a big problem for you to find the car you want.
Good luck.
Your father gives wise advise. Right now is not a good time. December will be when you can get the deals. MB always has the Winter Savings event to combat Lexus which has their huge winter promotion as well.
The only risk I see is being able to get a car you want from the dealer lot. Ray Catena usually has a healthy inventory level. Prestige in Paramus usually has a better selection and their pricing is more aggressive. Most dealers will carry a large inventory of C and E classes so I don't think it will be a big problem for you to find the car you want.
Good luck.
Newbie
Joined: Oct 2007
Posts: 9
Likes: 0
bmw 335xi, Infinti FX35
Dude my suggestion is do European Delivery. Im going to pick up a BMW 335xi coupe in Munich November 27th. My payment is $490.00 a month for 24 months and 12k miles a year. If I didnt do the ED then my payment would of been $630.00 per month with. I had to come up with the tax, first payment, and bank fee up front. The car totalled $46,200.00 and with the European delivery it totalled $40,800.00. When my wifes Infiniti FX35 is up Im going to do European delivery on an M-class. You are 22 so make a vacation out of it with some friends. If you decide on a BMW, then BMW has a program that is 2 for 1 plane tickets and they make your second payment on the car. www.bimmerfest.com and look up the European delivery and then go to the 3 series forum and look up the confidential pricing for US price and European pricing. A good dealer will only charge you between $800.00 and $1200.0 above European dealer cost. Thats because BMW reimburses them the discount that they offer us the consumer. You can find on BMWUSA.com under experiences and then European delivery.
However if you are serious about the C class and your dealer is telling you the car will be here in december then do the european delivery on the c class. You will get your car 4-6 weeks after you pick it up in Germany and it will be much much less. Go to germany for a few hours and then come back home if you dont want to stay there. My dad did that on his 5 series. If you decide to do the ED then ask your dealer to show you European dealer cost and ask him how much he will tack on that price.
However if you are serious about the C class and your dealer is telling you the car will be here in december then do the european delivery on the c class. You will get your car 4-6 weeks after you pick it up in Germany and it will be much much less. Go to germany for a few hours and then come back home if you dont want to stay there. My dad did that on his 5 series. If you decide to do the ED then ask your dealer to show you European dealer cost and ask him how much he will tack on that price.
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Member
Joined: Jun 2004
Posts: 85
Likes: 0
haha Looks like we will be in the same boat I am looking for a black c300 with black leatherette, auto tranny and multimedia with ipod...lol I shall race you to the dealer.....but im in miami so it might not make a difference.
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