konigstiger

MBC Captive Lease Programs
2006 CLS Class 4dr Sedan CLS500

Effective 4/5/05:
24 mo/15k mi – 73% Residual Value – Money Factor .00320 Base Rate
36 mo/15k mi – 65% Residual Value – Money Factor .00320 Base Rate
48 mo/15k mi – 58% Residual Value – Money Factor .00320 Base Rate
60 mo/15k mi – 51% Residual Value – Money Factor .00320 Base Rate

Effective 5/4/05:
24 mo/15k mi – 72% Residual Value – Money Factor .00340 Base Rate
36 mo/15k mi – 64% Residual Value – Money Factor .00340 Base Rate
48 mo/15k mi – 57% Residual Value – Money Factor .00340 Base Rate
60 mo/15k mi – 50% Residual Value – Money Factor .00340 Base Rate

(1) How did you do with residual value & money factor?
(2) Has anyone, in fact, gotten lower than MSRP?

vrracr

talk to mike emery at Pro Lease (houston office). he's done some leases for a couple of us on this board and i think everyone has been really happy with his service and rates...they killed MB in my case.

and yes, i got my car for $1,250 under MSRP, but that was only because the dealer refused to give me a tax credit for my trade in since i was going from an owned car to a lease. they said its against the law, but whatever...they split the credit with me.

soln

I decided to shop around for lease quotes before my CLS came in. After I received my quotes from third party lease companies I visited my MB dealer and said this is what I got. They matched they lowest one with no problem. I thought I was going to end up with a third party lease company from my MB dealer, but they got the deal done with MB credit.

Food for thought - The dealer makes additional money by selling the financing. They would be stupid to let that part of the sale go elsewhere. Shop around and then put what you find in front of them, mine buckled, yours will probably do the same.

john87699

I actually leased my CLS through Mike Emery at ProLease and I even have a personal relationship with my Mercedes dealership. Mercedes wanted $1,475.00 with $2k down + drive-offs. Mike Emery got me $1295 with $0 down. I will NEVER put money down on a lease - it's the biggest waste of money ever.

Anyhow, back to the story - I took the deal ProLease got me back to MB financing out of courtesy and they matched the deal - well sorta...lol - they matched the deal and bumped up the residual from $43k to $50k. Now $50k residual on a $79k car is a really really bad deal for anyone out there who is at all mathematically challenged. When I confronted MB on this they admitted that was the only way they could match ProLease's deal as MB financing didn't have the rates ProLease had through US Bank. So what MB did was take the $200.00/Month difference and stacked it in the residual. Had I gone with MB and ever tried to get out of the lease early for any reason I would have been so upside down it would have been crazy.

My advice, stay as far away from MB financing as possible. My last E-Class was enough getting screwed for me - I will never use another company other than Mike at ProLease to lease another car - I came up with what I wanted to pay based on the value of the car and they made it happen. As much as I love negotiating with car dealers, there really is no winning with MB's financing - they always win in the end if you go with them.

MDCLS

Wouldn't this only be a problem if you would decide to buy at lease end? Then that would cost you big time unless you could negotiate down. The only reason I would lease would be for tax reasons or to be able to ditch the car after 2-3 years and get another. Good thing to remember when heading to the MB finance desk Thanks.

konigstiger

Thanks. Currently working with Mike / ProLease – has yet to get back, will let you know how it works out.

BTW, in obtaining quotes david.waldock@silverstarauto.com offered MSRP-3069 for a CLS500 (best offer so far) has anyone found better?

BiTurboBenz

MB Credit has lost it...those rates are insane!

vrracr

did he get back to you?

MBE II

Quote from soln:
"Food for thought - The dealer makes additional money by selling the financing. They would be stupid to let that part of the sale go elsewhere. Shop around and then put what you find in front of them, mine buckled, yours will probably do the same"

First, on the CLS, the only way the MB dealer, using MB Finance, would be able to compete with your other quote is if the other lease facilitator was trying to "knock your head off", which left room for the MB dealer to compete. Secondly, before working as a leasing agent for Prolease, I spent 10 years in the retail car business (Dealership) as a Finance Manager/Director, and dealers don't make a dime on the financing unless they have the opportunity to mark-up the "buy rate". Just wanted to clarify these points. Anyway, good luck with your new CLS, I'm sure you are going to love it.

konigstiger

He just returned from vacation and will putting the #s together shortly. BTW, best quote received “so far” CLS500 = MSRP-3200.

konigstiger

Still nothing. Although circumstances have changed during the process, Mike must have me on his "pay no mind" list.

Maybe it's time for to earn yor referral fee...

vrracr

i wish.