Going rate for CLK320 coupe lease
10-19-2002, 03:26 AM
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Going rate for CLK320 coupe lease
I want to make sure Im doing my math right and If the salesman is telling me the truth ........
Im interested in a 2003 clk 320 coupe pewter with charcoal interior with k3 k4 options.
The salesperson said for a 4 year lease 12000 miles a year will be between $580 and $625 a month with $3000 down.
Does this sound about right???????
Im interested in a 2003 clk 320 coupe pewter with charcoal interior with k3 k4 options.
The salesperson said for a 4 year lease 12000 miles a year will be between $580 and $625 a month with $3000 down.
Does this sound about right???????
10-22-2002, 09:49 PM
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CLK 550
To determine if he is telling you the truth, you need to find out the residual on the car after 4 years assuming 12k miles a year and the money factor. The money factor is basically the interest rate the lessor is using divided by 2400. When I went in for my lease, the money factor offerred by Mercedes-Benz's credit arm was .00285.
Your lease payment consists of roughly 3 parts, the finance charge, the depreciation cost and taxes.
To calculate the depreciation charge, first subtract your downpayment or trade-in value from the agreed to sales price of your car. This is your capitilization cost. Subtract the residual value of your car from the cap cost, and then divide that number by the lease term (in your case, 48 months). This is your depreciation charge.
To calculate the finance charge, add the cap cost to the residual value and multiply that number by the money factor. That will yield your finance charge.
Calculating the sales tax differs from state to state on a lease, but it should only run you somewhere between $25 and $40 a month.
Add those 3 numbers, and you get a rough estimate of what your lease payment should be.
Hope that helps...
Your lease payment consists of roughly 3 parts, the finance charge, the depreciation cost and taxes.
To calculate the depreciation charge, first subtract your downpayment or trade-in value from the agreed to sales price of your car. This is your capitilization cost. Subtract the residual value of your car from the cap cost, and then divide that number by the lease term (in your case, 48 months). This is your depreciation charge.
To calculate the finance charge, add the cap cost to the residual value and multiply that number by the money factor. That will yield your finance charge.
Calculating the sales tax differs from state to state on a lease, but it should only run you somewhere between $25 and $40 a month.
Add those 3 numbers, and you get a rough estimate of what your lease payment should be.
Hope that helps...
10-23-2002, 12:50 PM
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'06 ML500 w/Apperance pkg & '07 SL550 w/AMG pkg
I don't think the rate is that low for the W209, MBCC's standard rate for new cars and niche cars is usually around .00330. Each bank has its own buy rate, but MBCC normally has the better residual values.
10-23-2002, 03:44 PM
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CLK 550
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I don't think the rate is that low for the W209, MBCC's standard rate for new cars and niche cars is usually around .00330. Each bank has its own buy rate, but MBCC normally has the better residual values.
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Don't know if things have changed recently, but when I went in in early October, the money factor on the MBCC lease for a W209 was 0.00285...they indicated they were running a special rate. And the residual on the W209 320 was 0.68 for a 3 year, 15k mile term.
But you are on point with the fact that banks typically have more friendly borrowing terms, whereas MBCC sets better residual values.
Bottom line, just make sure you ask the right questions and consult multiple lending sources to ensure you get the best deal possible for your particular situation.
I don't think the rate is that low for the W209, MBCC's standard rate for new cars and niche cars is usually around .00330. Each bank has its own buy rate, but MBCC normally has the better residual values.
=========================================
Don't know if things have changed recently, but when I went in in early October, the money factor on the MBCC lease for a W209 was 0.00285...they indicated they were running a special rate. And the residual on the W209 320 was 0.68 for a 3 year, 15k mile term.
But you are on point with the fact that banks typically have more friendly borrowing terms, whereas MBCC sets better residual values.
Bottom line, just make sure you ask the right questions and consult multiple lending sources to ensure you get the best deal possible for your particular situation.
