Question on 05 lease
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Joined: Jun 2004
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Question on 05 lease
Hi i want an 05 230k. But i was wondering how much you guys think the lease will come out to. this is what i need
I will put 5000 down. for a 39 month lease 12000 miles a yr
OPTIONS:
automatic
sunroof package
entertainment package
ne replys will help...
I will put 5000 down. for a 39 month lease 12000 miles a yr
OPTIONS:
automatic
sunroof package
entertainment package
ne replys will help...
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Joined: Apr 2004
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From: Ft. Lauderdale
BMW 325i
lease actual numbers
quoted yesterday when I decided to finance instead. Lease is 59% residual on 36 month lease with 6.9% interest rate on a 15,000 mile per year lease. Came to 560 per month with 1900 total out of pocket. Go to leaseguide.com and use their calculator for exact numbers. MB leases are the worst in the business!
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From: Austin
2001 C240
@JayinLauderdale: I can see where putting money down on a lease doesn't make sense if you walk away from the car after your lease is up, are there any circumstances putting money down might make sense (other than getting the monthly payments down)?
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From: Ft. Lauderdale
BMW 325i
lease deposit
the benefit of leasing is you keep your downpayment money. You then pay a smaller monthly note (than buying) and pay only for the amount of car you use. You should pay only for depreciation and interest. Remember, the lease deals they offer you at MB are notoriously bad both in residual and interest rate as well as a stiff bank fee. They can change these numbers though when they want to make a sale.
Member
Joined: Jul 2003
Posts: 82
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From: Atlanta, GA
2003 C230 Kompressor Sedan
The other key factor in a lease is the amount of miles you put on a car. Most of the European car leases in the US quote 10,000 - 12,000 miles a year, and up to .35/mile over the limit when you turn it in. If you plan on driving more miles than this per year, either purchase additional miles at a substantially reduced rate up front, or consider a financing alternative.
It is real easy to get upside down in a car when leasing. You pretty much have to commit to riding the lease out until it's natural termination. Even if you have problems with the car, getting out of a lease early is very costly, and the contracts are pretty air tight.
I had leased for over 20 years, mostly because I like a new car every 2-3 years, so why pay the depreication. Whatever you do, don't get sucked into leasing a car thinking you can get so much more car for the same monthly payment as financing. Going into this with that thought process will only cause you pain 2-3 years down the road.
It is real easy to get upside down in a car when leasing. You pretty much have to commit to riding the lease out until it's natural termination. Even if you have problems with the car, getting out of a lease early is very costly, and the contracts are pretty air tight.
I had leased for over 20 years, mostly because I like a new car every 2-3 years, so why pay the depreication. Whatever you do, don't get sucked into leasing a car thinking you can get so much more car for the same monthly payment as financing. Going into this with that thought process will only cause you pain 2-3 years down the road.
Out Of Control!!
Joined: Jun 2003
Posts: 14,362
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From: Staples Center
w211 & w124
While at the dealership on Sunday they tried to offer us $589/mo. with $4000 down for a 5-year lease for an 05 C240 (sticker was $37,500). This is with a credit score of 723!
Without going into too much detail we ended up buying it with less down and a lower monthly payment. See how screwed up their leasing plan is?
Without going into too much detail we ended up buying it with less down and a lower monthly payment. See how screwed up their leasing plan is?
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Joined: Nov 2002
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From: El Pueblo de la Reyna de los Angeles
The True OG Modded out W203
Originally posted by Samoan_Ridah
While at the dealership on Sunday they tried to offer us $589/mo. with $4000 down for a 5-year lease for an 05 C240 (sticker was $37,500). This is with a credit score of 723!
Without going into too much detail we ended up buying it with less down and a lower monthly payment. See how screwed up their leasing plan is?
While at the dealership on Sunday they tried to offer us $589/mo. with $4000 down for a 5-year lease for an 05 C240 (sticker was $37,500). This is with a credit score of 723!
Without going into too much detail we ended up buying it with less down and a lower monthly payment. See how screwed up their leasing plan is?
Turned it into a buy later though when I started modding the car. Best advice is HUNT the newspaper deals out. As outrageously low that some of them may sound you WILL eventually snag in a dealer to match it(ONLY if you have 720+FICA though).
Senior Member
Joined: May 2003
Posts: 278
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From: San Diego, CA
2014 Sport White on black
II guess overall price is relevant. my net price for calculation of lease was $33,400. Cardinal rule of leasing, never put down anything. Just first pmt.
Can you exbound on not putting money down. I have never leased before but I do not keep a car more than 3-4 years and might lease the new MBZ C230. The deal for $349 a month asked for about 4k down. How do you avoid those initial costs? I know some of it is security and first month's payment.
Another question is do you try to make a deal with the sticker price of the car (Invoice +) then do the lease? Would you prefer to get a third party lease. My bank/savings and loan offers lease options and I feel I can trust them more than a national car dealership. Thanks for your help.
Can you exbound on not putting money down. I have never leased before but I do not keep a car more than 3-4 years and might lease the new MBZ C230. The deal for $349 a month asked for about 4k down. How do you avoid those initial costs? I know some of it is security and first month's payment.
Another question is do you try to make a deal with the sticker price of the car (Invoice +) then do the lease? Would you prefer to get a third party lease. My bank/savings and loan offers lease options and I feel I can trust them more than a national car dealership. Thanks for your help.
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From: Ft. Lauderdale
BMW 325i
Leasing info
Leasing is all about a few numbers:
Residual should be a number like 59%(last quote I got from Benz was 59% for a 36 month lease at 15,000 miles a year)
Money factor/interest rate (should be something like .0023 as a money factor or 5.9% as in an interest rate)
term of lease (maybe 36 months)
Money down (out of pocket)
Leasing company fees aka bank fees etc (mercedes charges 1,000.00)
Doesnt matter who, what, where or how. It all boils down to the above listed numbers in the equation.
Go to leaseguide.com fill in the blanks in the lease calculator. If you dont know the numbers you must ask your dealer/bank or whomever what their numbers are to fill in the blanks on the lease calculator. This calculator will tell you exactly what your lease will cost you per month and will teach you exactly how a lease works!
Until you know how a lease works you are at a disadvantage.
Residual should be a number like 59%(last quote I got from Benz was 59% for a 36 month lease at 15,000 miles a year)
Money factor/interest rate (should be something like .0023 as a money factor or 5.9% as in an interest rate)
term of lease (maybe 36 months)
Money down (out of pocket)
Leasing company fees aka bank fees etc (mercedes charges 1,000.00)
Doesnt matter who, what, where or how. It all boils down to the above listed numbers in the equation.
Go to leaseguide.com fill in the blanks in the lease calculator. If you dont know the numbers you must ask your dealer/bank or whomever what their numbers are to fill in the blanks on the lease calculator. This calculator will tell you exactly what your lease will cost you per month and will teach you exactly how a lease works!
Until you know how a lease works you are at a disadvantage.
Almost a Member!
Joined: Apr 2004
Posts: 58
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From: Ft. Lauderdale
BMW 325i
Price of car
PS about leasing.... try to negotiate the lowest price you can get on the car or the lowest note on the lease you can get with the desired term. I usually get quotes as such:
I want a 36 month lease allowing me 15k miles a year.
I want no money out of pocket but first monthly payment.
Of course I want the lowest quote possible.
When they start fooling around with large out of pocket downpayments it gets confusing so I always get a quote with nothing out of pocket.
I want a 36 month lease allowing me 15k miles a year.
I want no money out of pocket but first monthly payment.
Of course I want the lowest quote possible.
When they start fooling around with large out of pocket downpayments it gets confusing so I always get a quote with nothing out of pocket.
