Guys I need some help...
My CLK is up on its lease and I just drove a 550 cab

MSRP 67ish with options, the dealer claims to have knocked be 3k off...so 64k...39 mos..850/mo, 4k down

Where should I be payment wise and how much down?
I'm thinking 739/mo, maybe 1 or 2 gs down...is this an outrageous lowball?

help needed asap

 

When I got my car back in 2006 that would be considered pretty high. With 4k down and $850 month, it comes out to $952/month... That doesn't sound right. I think there are plenty of members here who got their 500s for $600-700 a month back in 2006. I don't think the lease could change that much but I could be wrong. Have you checked with the internet sales department or are you dealing with a floor guy?

 

Maybe convertible models are more in demand now but I got 7K off from MSRP for my coupe.
I think you should be able to get a better deal because you don't see many 550s on the road... (probably not selling much?)

 

Pricing a CLK 550 IN SILVER , WITH BLACK INTERIOR, NAV + SIRIUS , . $ 3,000 DOWN, 36 MONTHS, 10,000 MILES A YEAR, $ 774.00 INCLUDING TAX

ANY KNOW IF THIS IS A DECENT DEAL?

 

That sounds closer. What is the money factor/interest rate, MSRP, purchase price and residual value? That is the only way to know if you are getting a good deal.

Contact some independent lease companies like leasecompare.com or fleetrates.com and see what they can do.

 

MSRP $69,245
invoice $65,125
selling price $57,723

24 mo. with 10K miles
1300 drive off 799 inc of tax
money factor .00210

36 mo. with 10K miles
1300 drive off 780 inc of tax
money factor .00190

This is for a 550 cab with pkg 1 and Nav, heated seats

Does this sound OK?

 

Sounds high to me but what do I know?

 

What is the residual?

On the 24 month assuming a residual of 63%, the payment should be around 800 + tax. the interest rate is 5.04%

On the 36 month assuming a residual of 56%, the payment should be around 709+ tax. the interest rate is 4.56%

 

Good question, I do not know the residual but I cant undertand how your numbers are different, but I will get the residuals. I think that is lon one of the boards here

 

Are you guys getting these numbers (sale prices) from salesman or from internet departments?

 

The residual affects the payment because it changes the amount of depreciation you are funding. Higher is better.

Also, I don't understand what this line means: 1300 drive off 799 inc of tax

It sound like you are not putting any cash towards capitalized cost reduction. Break the 1300 down for me. Is it your first payment+tax+acquisition fee etc or what?

When you are leasing, you need to be very detailed about all aspects of the deal otherwise the dealer ends up lining his pockets at your expense.

 

Go build a car at fleetrates.com. They generally sell the car at 7k or more off msrp.

Don't know where he is getting his rate info, but I'm calculating it using the formulas provided by leasecompare in the leasing forum. I created a spreadsheet that spits out payment if you have the msrp, purchase price, money factor, down payment, tax rate, residual percent etc.

 

Thanks Velvet..yes the $1300 is drive off. But I have not yet asked for the breakdown. If dealers just were transpapernt in their deals they would probbaly save alot of time and make the customer happy. I will ask not the breakdown, but it is First payment+tax+acquisition fee etc

 

I assume from looking at teh May '07 MB lease rates in another Form on MWworld that the residual is:

24 Month – Residual 65% of MSRP – .00210 Base Rate
36 Month – Residual 55% of MSRP – .00190 Base Rate

 

24 month:
MSRP $69,245.00
Purchase Price $57,723.00
Down Payment $-
Cap Cost $57,723.00
Residual % 65% $45,009.25
Term 24
Money Factor 0.0021 5.04
Monthly Depreciation $529.74
Monthly Interest $215.74
Payment $745.48

36 Month:
MSRP $69,245.00
Purchase Price $57,723.00
Down Payment $-
Cap Cost $57,723.00
Residual % 55% $38,084.75
Term 36
Money Factor 0.0019 4.56
Monthly Depreciation $545.51
Monthly Interest $182.03
Payment $727.54

 

Velvet

Are the above numbers, 24 payment $745.48 and 36 Payment $727.54 incuding the tax?

 

I just got numbers today.... $69,245 MSRP, 7,500 miles/year, 24 months, 2007 clk550 cab w/ p1, heated seats + nav, black on black, $545 + tax/month w/ $4,999 driveoff. That equates to $730/month before taxes.

 

MBV - Both of those numbers do not include tax. You didn't say what your tax rate was so I couldn't calcualte it.

 

Thanks VF - I am in Los Angeles county, 8.25%.

 

don't see that many 500's on the road either...mostly 320's and 350's.

 

cause there's about $10,000. difference

 

Not bad!