Leasing help!
10-15-2012, 04:18 PM
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2013 CLS550, 2009 E350, 2007 R350, 2001 ML55, 2000 CL500, 1997 E320
Leasing help!
Just went to my dealership and put a deposit on a 2013 CLS550 to be ordered in Luner Blue on Black and black wood! Optioned for P1, 4matics, and the trunk spoiler with MSRP: $80200. The car will be picked up in December before christmas! The dealer according to current program they priced me out at $845 per month for 51 months and taxes, 1st month, and bank fee at the time of pick up which is about $5200! Can i get some input on what else i can do to push for better lease rates or just take it and run
10-16-2012, 12:27 AM
#2
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The two things you want to work on with a lease is the sale price and the money factor. For a lease, its all about squeezing the rent down.
The residual is usually a set number that is very difficult to negotiate. The term of the lease affects that. But the dealerships rarely can change the residual.
But the sale price and money factor are very negotiable.
Car interest rates are around 4 to 5% right now. So you want a money factor around 0.002 or lower. .00167 is 4%. To convert from money factor to percentage, multiply the money factor by 2400.
as for the sale price, figure out your invoice price and work up from there. $1000 or so over invoice is a decent price. But, the CLS is a low volume car. so you arent going to have the negotiation power of a E class or a ML. The can hang on to your CLS and sell it to an impulse buyer for more.
If you can walk out the door with a sale price of $1000-2000 over invoice and a money factor of .00167 or lower - you did good. siure, some guys brag they can get under invoice, those deal are rare.
One thing going for you, end of the year. The sales manager may want to just clear out inventory at the end of the year so they may be more open to negotiation. I would start negotiating with them BEFORE you car comes in. That wa your locked in with a deal before they have you sweating it out at the dealership.
good luck.
The residual is usually a set number that is very difficult to negotiate. The term of the lease affects that. But the dealerships rarely can change the residual.
But the sale price and money factor are very negotiable.
Car interest rates are around 4 to 5% right now. So you want a money factor around 0.002 or lower. .00167 is 4%. To convert from money factor to percentage, multiply the money factor by 2400.
as for the sale price, figure out your invoice price and work up from there. $1000 or so over invoice is a decent price. But, the CLS is a low volume car. so you arent going to have the negotiation power of a E class or a ML. The can hang on to your CLS and sell it to an impulse buyer for more.
If you can walk out the door with a sale price of $1000-2000 over invoice and a money factor of .00167 or lower - you did good. siure, some guys brag they can get under invoice, those deal are rare.
One thing going for you, end of the year. The sales manager may want to just clear out inventory at the end of the year so they may be more open to negotiation. I would start negotiating with them BEFORE you car comes in. That wa your locked in with a deal before they have you sweating it out at the dealership.
good luck.
10-16-2012, 10:43 AM
#3
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2013 CLS550, 2009 E350, 2007 R350, 2001 ML55, 2000 CL500, 1997 E320
OMG thanks lots lots! Selling price@invoice and money factor@.00167 great idea! ill be happy with monthly around closer to $800 lolz
