TrafficCriminal

-10,000 MILES PER YR
-TAX INCLUDED

AMG WHEELS
MULTI MEDIA PKG

THINKS IT'S A PRETTY GOOD PRICE FOR A LEASE?

bonds

what model? how many years is hte lease?

tanktube67

I'm paying that on a purchased

oblu

Yeah, but how much cash did you have to put down on it?

peabers

In Canada, you can lease a C300 (base, no options), zero down, 12,000km/year, 36 months, 6.9% apr... for ca$595.37/month plus 14% taxes and about ca$2000 for freight/PDI/admin/ppsa.

j_belll

thats too much for a lease.

jmoney6

What i usually do is call dealers that are like 100 miles away but in the same state. Keep telling them you found a better price keep doing this until 3 or 4 dealers tell you they can;t go any lower. Thats what i always do, to find out the lowest they're willing to go.

dmunjal

If you take a C300 with P1, MM, and Ipod which invoices at $35000 and use a .62 residual for 36 months, you get a payment of about $500 a month including tax with no down.

Jorg

Leases are a mine field and if you want to compare lease prices you have to have every information that is typed into the lease for and the precise vehicle and all options.

Just to compare a Dollar amount is not very useful.

What many people forget is that if you pay 7% interest on a lease and if you are in a 50% tax bracket you have to earn 14% to break even.

Leasing has it's place but never for get GMAC the leasing arm of GM makes more money than the company which builds the car. That should tell you something. The same goes for Ford and Ford Credit.

So have a real close look at your deal because you will pay for years to come.

Jorg

TrafficCriminal

MSRP- $37,000


correction 12,000 per yr not 10,000

It's a Lease

LaicepsYdobon

For another $19 a month you could have gotten an E-Class ! I was talking to my SA the other day and he commented that the new C-Class is unleasable at his dealership. The price is just too much fpr that car. I have a 2005 W203 C240 Luxury fully loaded and I'm only paying $450 a month. The equivalent in a 2008 W204 would be somewhere between $550 ~ $600 according to my sales guy. For that much money I might as well go for an E-Class.

Stick Girl

I spoke to my salesguy with the same logic and he told me that the "disclaimer" was that to get that lease price, you'd have to pay about $8K down. Don't know why that was the case then because MBUSA now shows a $579, 24 mo lease w/ about $4K down.

oblu

Yeah, I was in that boat. But after driving the E class (and dealing with the first ****ty dealership sales manager) I decided that the only merc I'd consider was the w204. So the decision was, do I lease at monster rates, or purchase for about $200 more a month.

I put $0 down on all my cars because I usually tire of them after 2yrs and swap for something else. The problem with that is, I'm almost always just breaking even if I go through the effort of selling the car myself, and then I have to pay the full 9.2% sales tax on the next car. In the state of WA, if you don't trade through a dealer, you don't get the tax credit. The dealers know this, so they try to work the tax credit as money in their pocket. Gets to be an expensive habit.

So leasing, even at crap rates, seemed like a decent proposition to me. I pay less in sales tax, less cash out of pocket and then don't have to worry about resale. Works for me. Because I known I'll be tired of the C after 2-3yrs.

We'll see how it works out. In the end I could care less as long as I'm not bumping into the $1000/mo range for my car habit.

Gotti78

I am in Vaughan Ontario and I am leasing a C350 with MM and down payment was freight and PDI plus 4K all together about 6500 Down and the payments are 780.00 a month and 6 months wait for the C350.

I talked to the dealer and he says that they do not do any deals, because so many people want this car.

Did I pay too much, and am I waiting to long?

Raydens

i'm in socal. 27 months lease @ $500 with $3,500 drive off (incl 1st month). 10K per year. Like you all said, the demand for this car is still huge. Hence looking for good deal in buying (discounts) and leasing (low down pymnt or cheap monthly) would be hard. Mine is c300sp, p1

Good luck

wase4711

well, here in chicagoland, I chose a 1 PAYMENT lease, which saves you ALL THE INTEREST you would be paying on either a lease or a outright purchase...it was 18,833 TOTAL payment, nothing down, no other fees, and NO INTEREST, so if you want to lease, and can afford a big one time payment, that is the way to go...I traded in a car, so the tax effect helped as well...the lease is for 27 months, @ 10,500 miles per year..done through MB credit.

nanotech

how does the one payment lease work? you just paid for the difference between final negotiated price w/ all fees included and the residual?

at a 0.0039 money factor, which translates to 9.36% interest...a credit card w/ 0% interest for 18mos will work a lot better! if its $18k, you just pay $1k/mo to pay the card off. im probably going to use my 2.9% till payoff offer though

wase4711

well basically yes, the difference between the final sale price, (with taxes and the other "stuff added to it), less the residual, is the actual amount you are paying for in a lease..With a one payment lease, there is no "interest" or money factor..and, my lease was a 27 month lease, so the analogy to the 18 month credit card doesnt work.
We hate making payments, so I like the 1 lease payment option, plus, you save about 2500 or so in interest that would accrue over 27 months..
You could also tap into your home equity account, if you have one, to make the one payment, and get an tax deduction on the interest you pay that way..

nanotech

thanks! Yeah I was just throwing in the 18mo thing to give people an idea in case they never thought of it. I am not going to do that myself, will probably tap the HELOC and use the 18mo offer to pay down heloc and use heloc to pay off card after 18mos...but that's another story.

Would anybody consider a 60 mo lease on a c300 sport at $500 above invoice + taxes (no other dealer fee however). If you make the one-time payment and divide that out over 60 mos...it comes out to about $335 before the regular lease payment tax (6% over here).....that's an incredible deal. However, you also have to keep the car for 60 mos....would anybody consider worth it?

doesn't warranty run out in 4yrs?

i see the residuals listed here by leasecompare for 15k/yr are:
24mo 68%
36mo 59%
48mo 50%
60mo 45%

what's the residual for 27 mos? is it the same as 24mo? does that go for 39mo (same as 36mo)? (and 51mo same as 48mo, 63mo same as 60mo??)

wase4711

well, if you are interested in 60 months, I think they have a 1.9% purchase finance offer now..I would never lease a car for 60 months, unless it had a bumper to bumper warranty, which this one does not..Plus, its the first year of a new model, so I would be concerned about what changes they will make in 2 or 3 years that I would want to get out of my lease in time for..
I dont remember what the residual is after 27 months, but I suppose you could figure it out..probably around 65% or so...Dont forget, the benz lease only allows 10,500 miles per year, so the residual will be higher than what is listed at leasecompare, since their's is based on 15,000 per year..

kimyoung_k

If you pay full amount for your lease up front and you happen to total your car, I am wondering you can get any money back? My understanding is that your insurance only pays to the leasee to cover the cost of the car but not to you. further more, leasee will not return the balance back to you neither
Maybe it's different from whoever give you the lease.

wase4711

good question; I assume you would get your money back, less depreciation, and the lessor would get their residual amount back..

dmunjal

I did a one-pay too and the difference in the money factor is worth it. You save quite bit of money in interest doing a one-pay. As far as the insurance is concerned, it a car is totalled a value is placed on the car. The residual goes to the leasing company and the rest goes to you.

S420merc

You assume wrong this is why u should never put money down on a lease.
When you lease a car you are not the owner its MB Finance so if you total out the car all the insurance company will do is pay off the amount owed to MB Financial and you are out of luck. I had a friend put money down on a Infiniti M45 Lease and crash the car after 2 months of ownership. The Insurance company paid of to Infiniti the Buyout + the total of remaining payments and he was out the $7k cap cost he put down.

oblu

Bingo. I've had a couple of friends now that ended up with this same problem. That's also the reason why GAP insurance is now standard ... it's to protect the lease company's investment, not to protect you.

One budy put down $5k on his lease and I kept telling him he was retarded. Sure enough, big wind storm brought down a tree right on top of his car.

Insurance company paid Audi and he was SOL on his 5k. He learned his lesson the hard way.

I think it's gotta be different though with a single payment since the lease company only has a stake in the residual and not the remaining lease payments. That would have to go back to the leasse I would hope. The lease company couldn't keep the difference between the insurance company payout and their residual if the lease payments for the depreciation were already made. Can they?