We are going to be doing this lease deal by the end of the week unless its not as great of a deal as we thought. Please give me your opinion

09 CLS 550, diamond white, beige, premium package, trim package and parktronic.

Only inceptions ~ ($2500) at signing, $900/month (includes tax) 39 month/10k.

We currently have an 06 CLS lease with two payments left of $1100 each, they will take us out early.

 

Seems like a decent deal, nothing spectacular though. If I'm not mistaken there is $3000 lease cash this month, so this deal is basically the car being sold at invoice and then giving you the $3k lease cash. Also Mercedes always has a lease accelerator program where you can turn in the car 3 months early if getting into a new benz.

Did you shop around? I would contact another dealer and just for kicks tell them you were offered $875/mo and if they can beat it. Sometimes you would be surprised at what another dealership is willing to do to keep you from buying from someone else.

 

We did shop around that was the best quote we found so far. That 900/mo does include 6.5% of tax. Do you by any chance know the residual percent for 10k/yr and the money factor? I would like to calculate some numbers myself. We currently have a deposit down on the car.

 

With taxes included that is about 1k under invoice plus the 3k lease cash.

50% residual with 10k miles on 39 month term
0.00051 MF

Just an FYI, this info is posted monthly in the Automotive buy/lease section of this forum.
Dealerships are more inclined to offer a better deal once they hear of another deal you got. I would re-try some of the places that quoted you higher prices

 

The car we want, only 1 exists currently in FL with our exact specifications. When I use a lease calculator if my calculations are correct they are discounting the car to about $68,300 and then $65,300 after the rebate. Tax, bank aquistion fee, and registration etc would add about $5,263.

Invoice on the car is $74,255 with a selling price of $65,300, would be $8995 under invoice. Isn't that about 6k off invoice before the 3k rebate.

If I am doing the calculations wrong please let me know. I'm heading to the dealer in a few hours.

 

Here is the base formula:

(Cap Cost – Residual Value) / Term = Depreciation
(Cap Cost + Residual Value) X Base Rate = Interest
Depreciation + Interest = Base Monthly Payment

Which would mean this-

(65300 - 39840)/39 = 652.82
(65300 + 39840) x 0.00051 = 53.62
652.82 + 53.62 = 706.44

I forgot to account for the tax, but since the MF is so low lets just take the monthly payment and add interest free tax to that:

706.44 x 1.065 = $752.36 per month

So I assume something is wrong with your math.

To get a $900 monthly payment means a cap cost of about $70,650

If this is the only place that has a car with the options you want, then go for it, its still a good deal.

 

We got the car, it was the exact car we wanted so it made sense to do it.

Here are cell phone pictures.

 

Congrats, beautiful car!

Would someone please explain the 3,000 lease cash incentive?

is it on for April with the .00051 money factor?

i'm scheduled to sign a lease today and don't think i received it

 

The $3k lease cash is just like it sounds. Normally you have about a 6% mark up on the car. So, if you take 6% of the MSRP minus the $3k lease cash, you should end up $3k behind "invoice". What makes you think that you did not get the lease cash? What is your selling price versus MSRP?

 

same car as above with sport package and 15,000 miles per month

payment around 1100.

will pay first payment, tax and title with additional cash from me.

do you think i got the 3,000

 

plus they will have to move the car 1/2 across the country from another dealer.

 

The sport package is a $5090 option. Going from 10k miles to 15k miles is a 3% reduction in the residual. Also, looks like they are going to have about $1000 i transportation costs. I would say depending on your tax rate in your state, that you are receiving a good deal. The only way to truly tell if you got the $3k lease cash is to look at your selling price. Just doing a gross calculation your MSRP should be around $82k, I would think that if you're getting a "invoice" minus the $3k lease cash your sale price should be around $74k.

 

thank you so much,
i'll try to get the exact numbers before signing and post.

i am paying the taxes out of pocket if that makes any difference

 

To the OP congrats on the new ride sometimes I wonder why I ever sold mine I loved that car.

LOL! Anyways enjoy it I think the deal you got was good. If you feel like you are paying to much on the car just take her out for a drive then you will know why your paying for it. It always works for me ..... lol !

 

Congrats on the car!

 

Congrats on the car!

 

good deal, you traded a B@st@rd white for a Diamond White...