Lease Help!!!
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Joined: Jan 2008
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2008 C2008 PII, Mult Med., AMG 17", manual
Lease Help!!!
2008 C300
VA Registration
black on black
17" AMG
PII Options
Mult Media
IPod Integration
Manual
MSRP 39050
Down 3500
was quotes 520-540 ...
I've been told thats a bit too high. Any help on how I can get them lower? Credit is high tier 2 credit.
thanks!
James
VA Registration
black on black
17" AMG
PII Options
Mult Media
IPod Integration
Manual
MSRP 39050
Down 3500
was quotes 520-540 ...
I've been told thats a bit too high. Any help on how I can get them lower? Credit is high tier 2 credit.
thanks!
James
Last edited by jamesbaud; Jan 15, 2008 at 12:54 PM. Reason: forgot some important information
Super Member
Joined: Jul 2007
Posts: 616
Likes: 0
From: Kirkland, WA
c300
1. putting money down on a lease has it's risks.
2. what's the term?
2. what's the residual?
3. what's the mileage?
4. is cap cost full msrp or are they discounting?
5. what are they charging for money factor?
6. what are they charging for inception?
The leasing forum has the current residuals and MF's. From there it's just plug n chug into a lease calc to find out if what you're getting quoted has markups hidden in there.
MB MFs aren't great. That sounds about right. But you should do your homework to make sure.
2. what's the term?
2. what's the residual?
3. what's the mileage?
4. is cap cost full msrp or are they discounting?
5. what are they charging for money factor?
6. what are they charging for inception?
The leasing forum has the current residuals and MF's. From there it's just plug n chug into a lease calc to find out if what you're getting quoted has markups hidden in there.
MB MFs aren't great. That sounds about right. But you should do your homework to make sure.
MBWorld Fanatic!
Joined: Jan 2008
Posts: 1,321
Likes: 0
C300 Sport/Palladium Silver on Black/P2
What are the "Risks" of putting money down on lease.
As to the OP - is that with sales tax? If it is, seems really good. If it is without, still seems about right. Mine is that range, with a cheaper car and tier 1 credit.
As to the OP - is that with sales tax? If it is, seems really good. If it is without, still seems about right. Mine is that range, with a cheaper car and tier 1 credit.
Member
Joined: Jan 2005
Posts: 248
Likes: 0
From: New Jersey
There is nothing wrong with putting a down payment on a lease. All you have to be careful with is that you don't end up paying off 70% of a car that's not even yours to keep in the end. If you total your car during a lease you get whatever the difference of what's still owed in total on the car. So in essence when you total a leased car congratulations you now just bought it. So now your insurance will pay what's owed on it to whom ever it's owed to and if there is something left it's yours. If for some reason the value that's owed is greater than what your insurance is paying out then you can purchase gap insurance if it worries you and it takes care of that. If not it's coming out of your pocket.
Last edited by IwantA124; Jan 18, 2008 at 02:35 AM.
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Member
Joined: Jan 2005
Posts: 248
Likes: 0
From: New Jersey
How long is the term? if it's 39 months you're paying 61% of that cars MSRP that's not a great lease but it's about an average one. For a good one you want to be in the 50%-55% Shop around and go to other dealerships.
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MBWorld Fanatic!
Joined: Jan 2008
Posts: 1,321
Likes: 0
C300 Sport/Palladium Silver on Black/P2
There is nothing wrong with putting a down payment on a lease. All you have to be careful with is that you don't end up paying off 70% of a car that's not even yours to keep in the end. If you total your car during a lease you get whatever the difference of what's still owed in total on the car. So in essence when you total a leased car congratulations you now just bought it. So now your insurance will pay what's owed on it to whom ever it's owed to and if there is something left it's yours. If for some reason the value that's owed is greater than what your insurance is paying out then you can purchase gap insurance if it worries you and it takes care of that. If not it's coming out of your pocket.
Super Member
Joined: Jul 2007
Posts: 616
Likes: 0
From: Kirkland, WA
c300
If for some reason the value that's owed is greater than what your insurance is paying out then you can purchase gap insurance if it worries you and it takes care of that.
I've had two friends that have leased cars and then had them totalled out in the first year of the term and have gotten nothing back from insurance. Surprisingly, the value of the car stayed right in line with the leasing company's stake in the car. One friend even got a lawyer to try to fight the valuation but came up short.
One lost $2500 in cap cost reduction. The other lost over $4000.
