First time leaser - deal check!
10-30-2016, 07:10 PM
#1
Junior Member
Thread Starter
Join Date: Jan 2009
Location: Dallas, TX
Posts: 42
Likes: 0
Received 0 Likes
on
0 Posts
05 E55, 98 M3
First time leaser - deal check!
Girlfriend is looking to lease a 2016 C300, neither of us have leased before and need some validation on the deal.
2016 C300 RWD
MSRP: $48,270
Selling Price: $45,857
Residual: 61% for 10k/42 months
Money Factor: .00072 using auto-pay discount off .00082
This is where it gets fuzzy.
Dealer monthly payment: $592
My calculated monthly payment: $446
What am I missing? Is she getting screwed?
2016 C300 RWD
MSRP: $48,270
Selling Price: $45,857
Residual: 61% for 10k/42 months
Money Factor: .00072 using auto-pay discount off .00082
This is where it gets fuzzy.
Dealer monthly payment: $592
My calculated monthly payment: $446
What am I missing? Is she getting screwed?
10-30-2016, 08:30 PM
#2
Junior Member
Join Date: Jul 2002
Location: Cincinnati, Ohio
Posts: 68
Likes: 0
Received 6 Likes
on
6 Posts
2023 GLC300 4MATIC
Your calculated payment looks correct based on your numbers. You didn't mention if you are paying the acquisition fee of $795, the sales tax and doc fees up front or if you are rolling those into the lease. The dealer can also be adding things like gap insurance to the payment as well which you most likely can get cheaper through your auto insurance company. Whatever is being added should not be a secret. There are other add ons you can purchase like prepaid maintenance, wheel and glass protection. You can ask for a breakdown to find out exactly what they are adding. Nothing should be a surprise.
10-30-2016, 09:04 PM
#4
Junior Member
Thread Starter
Join Date: Jan 2009
Location: Dallas, TX
Posts: 42
Likes: 0
Received 0 Likes
on
0 Posts
05 E55, 98 M3
Your calculated payment looks correct based on your numbers. You didn't mention if you are paying the acquisition fee of $795, the sales tax and doc fees up front or if you are rolling those into the lease. The dealer can also be adding things like gap insurance to the payment as well which you most likely can get cheaper through your auto insurance company. Whatever is being added should not be a secret. There are other add ons you can purchase like prepaid maintenance, wheel and glass protection. You can ask for a breakdown to find out exactly what they are adding. Nothing should be a surprise.
From looking around seems like this is a bad deal! $45k seems too much for this spec 2016 sedan and a padded lease payment.
Mike4215, been using your spreadsheet. Thanks for the great tool.
10-30-2016, 09:20 PM
#5
Junior Member
Join Date: Jul 2002
Location: Cincinnati, Ohio
Posts: 68
Likes: 0
Received 6 Likes
on
6 Posts
2023 GLC300 4MATIC
The prepaid maintenance alone would not increase the lease that much as you can tell from the worksheet. In looking at it the selling price seemed a little high to me but I am not sure if there are different incentives in different parts of the country. I thought MB had cash back to the dealer right now on 2016's. You also have to remember that you are basically buying a year old car. The 2017's in my area are on the lot already. The dealers in my area are openly advertising 4-6 thousand off of sticker on 2016 C300's based on the car.
