1st Post: Good Lease?
12-09-2006 | 12:17 AM
#1
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Joined: Dec 2006
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1st Post: Good Lease?
Hi everybody. My first post here (after searching).
I'm thinking to get C230 for my wife (mostly city driving). I thought about ED but may keep it for future, for more expensive models (where savings are more :-). MB winter sales has this deal: $299 a month, after $2,850 down and $795 fee, 27 months, 22.5K miles, sunroof package, cd change). Is this a good deal? I asked a dealer, he had no idea about the money factor.
Once I put big money down for BMW X3 lease, car was totalled after one year and downpayment was gone. My current X3 is leased with multiple security deposits (to lower already good money factor). My dealer also had no idea about the MSD (I've read MB allows to put up to 10 of them).
I also got the second offer from the same dealer: the same car, $688 down, $429 a month, 12K miles a year, 39 months. Difference is almost $3K in downpayment, $130 monthly difference (plus tax on it) equals almost $3,800 in 27 months (but then I have another year of $429 payments). If I put the $3K on a saving account, in 27 months it will earn around $400. So in terms of money it comes down to few hundred dollars, not a big deal. I don't know which one is better: 27 months or 39 months.
I have very good credit and am able to put all 10 MSDs if available. Do you think I can find a better deal?
Excuse me for a long first post. I didn't find a forum specific to leasing, money factor, etc.
Thanks in advance,
David
I'm thinking to get C230 for my wife (mostly city driving). I thought about ED but may keep it for future, for more expensive models (where savings are more :-). MB winter sales has this deal: $299 a month, after $2,850 down and $795 fee, 27 months, 22.5K miles, sunroof package, cd change). Is this a good deal? I asked a dealer, he had no idea about the money factor.
Once I put big money down for BMW X3 lease, car was totalled after one year and downpayment was gone. My current X3 is leased with multiple security deposits (to lower already good money factor). My dealer also had no idea about the MSD (I've read MB allows to put up to 10 of them).
I also got the second offer from the same dealer: the same car, $688 down, $429 a month, 12K miles a year, 39 months. Difference is almost $3K in downpayment, $130 monthly difference (plus tax on it) equals almost $3,800 in 27 months (but then I have another year of $429 payments). If I put the $3K on a saving account, in 27 months it will earn around $400. So in terms of money it comes down to few hundred dollars, not a big deal. I don't know which one is better: 27 months or 39 months.
I have very good credit and am able to put all 10 MSDs if available. Do you think I can find a better deal?
Excuse me for a long first post. I didn't find a forum specific to leasing, money factor, etc.
Thanks in advance,
David
12-09-2006 | 01:46 AM
#2
Super Member
Joined: Oct 2006
Posts: 510
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White C
The first deal is a very good deal...if ur lookin for a lower down pymt the second deal isnt bad as well but the terms is longer... 27 month vs 39....
so if u want a shorter term the 27 month is right where it should be..they can even do it 3k down drive off everything included and 350 a month....i checked in earlier and tahts the deal u can get now...when i got mine it was alot more cuz the 07's barely were out...but they are good deals...
so if u want a shorter term the 27 month is right where it should be..they can even do it 3k down drive off everything included and 350 a month....i checked in earlier and tahts the deal u can get now...when i got mine it was alot more cuz the 07's barely were out...but they are good deals...
12-09-2006 | 01:51 AM
#3
Member
Joined: Jul 2006
Posts: 227
Likes: 3
From: SoCal
C55, w211 E55, ML320 CDI
I advise you to put $0 down. Only pay for tax, license, fees. As you found out, your down payment disappears if the car is totalled or stolen. Don't make the same mistake twice.
Make sure to get the money factor too. Dealers can build in profit by concealing/inflating the money factor. If they don't want to give it to you, that's telling you something. Get all the element of the lease payment so you can calculate your own lease payment -- residual, sticker price, cap cost, money factor. Good luck.
Make sure to get the money factor too. Dealers can build in profit by concealing/inflating the money factor. If they don't want to give it to you, that's telling you something. Get all the element of the lease payment so you can calculate your own lease payment -- residual, sticker price, cap cost, money factor. Good luck.
