E350 Lease !?!?!
MBWorld Fanatic!
Joined: Sep 2002
Posts: 2,923
Likes: 3
Mercedes Benz
One other factor to consider when prepaying the lease, or putting a lot of money up front is if your car is totaled or stolen, the insurance would pay only the current market value of the car. After the lease company subtracts the up-front amount, you'll likely lose a chunk of your pre-payment. I think you always want to be upside down on the lease (unless you need to turn in the car in before the lease end), and have the gap insurance cover the difference.
MBWorld Fanatic!
Joined: Jan 2004
Posts: 1,461
Likes: 1
From: Baltimore MD
MB, BMW
can u guys post detailed MF, residual, cap cost on these leases?? new E350 for $1200 down $420/mo, that's f##King cheap. MB must be discounting close to $10k and residual over 67% to get those numbers.
even a BMW 3 series lease comes out to $2500 down/$500 per month w/ typical options.
even a BMW 3 series lease comes out to $2500 down/$500 per month w/ typical options.
MBWorld Fanatic!
Joined: Jan 2004
Posts: 1,461
Likes: 1
From: Baltimore MD
MB, BMW
here's what i dont understand, you folks are posting here about insane deals but i just checked mbusa . com and their 'winter special' lease is $559/mo 27 months, $4400 up front. wtf
Thread Starter
Member
Joined: Dec 2006
Posts: 108
Likes: 0
From: MPLS
2016 E350
Details
Here are the details. Car includes P1, Leather, Split folding seats and Sport.
MSRP $55,565
Negotiated discount $6,114
MB Cap (incentive or trunk $) $2,000
Net cap cost $47,451
27 months
Residual for 7,500 mi/yr 73% or $40,562
MF .00190 (discounted 110 bp for paying up front)
Depreciation per month $255.13
Rent (MF*(47,451+40,562)) = $167.23
Total of payment = $422.36 + tax
Keep in mind this is leasing stretched to the max - ultra low miles with high residuals, highest possible credit rating, a big incentive and a huge discount. It is also based on paying for the lease up front in a lump sum of $12,198. That's how you get the .00190 MF - MB discounts the money factor 110 bp for paying it up front.
Had I paid over a term, MF would have been in the .00300 range and the payments would have been $520 with a zero drive off.
It took some back and forth emails with several dealers to get this deal
, but not more than 3 hours worth of work. I had them agree to everything before I stepped foot in the dealership, but I faxed them my credit ap, they had the car on the lot and MB wants to move cars before the end of the year.
MSRP $55,565
Negotiated discount $6,114
MB Cap (incentive or trunk $) $2,000
Net cap cost $47,451
27 months
Residual for 7,500 mi/yr 73% or $40,562
MF .00190 (discounted 110 bp for paying up front)
Depreciation per month $255.13
Rent (MF*(47,451+40,562)) = $167.23
Total of payment = $422.36 + tax
Keep in mind this is leasing stretched to the max - ultra low miles with high residuals, highest possible credit rating, a big incentive and a huge discount. It is also based on paying for the lease up front in a lump sum of $12,198. That's how you get the .00190 MF - MB discounts the money factor 110 bp for paying it up front.
Had I paid over a term, MF would have been in the .00300 range and the payments would have been $520 with a zero drive off.
It took some back and forth emails with several dealers to get this deal
, but not more than 3 hours worth of work. I had them agree to everything before I stepped foot in the dealership, but I faxed them my credit ap, they had the car on the lot and MB wants to move cars before the end of the year.
Thread Starter
Member
Joined: Dec 2006
Posts: 108
Likes: 0
From: MPLS
2016 E350
Gap
Good point.
Just like purchasing the car up front. If its totaled or stolen and you've only owned it for 6 months you could be out some $. If replacement value is $48k and payoff $40k (this is residual in 27 months) then you would be out the difference between what was paid up front and this $8k - which in this case is only $4,000.
And that's assuming the payoff = residual that is 27 months down the road. My guess is that the payoff is lower than that. When my paperwork is processed I'm going to call MB financial and find out.
Just like purchasing the car up front. If its totaled or stolen and you've only owned it for 6 months you could be out some $. If replacement value is $48k and payoff $40k (this is residual in 27 months) then you would be out the difference between what was paid up front and this $8k - which in this case is only $4,000.
And that's assuming the payoff = residual that is 27 months down the road. My guess is that the payoff is lower than that. When my paperwork is processed I'm going to call MB financial and find out.
MB World Stories
The Best of Mercedes & AMG
8 Classic Boxy Mercedes Designs That Have Aged Like Fine Wine
Verdad Gallardo
Flawlessly Restored Mercedes 190E Evo II Heads to Auction
Verdad Gallardo
Electric Mercedes C-Class Unveiled: 11 Things You Need to Know
Verdad Gallardo
Mercedes EQS Gets A Major Update: Everything You Need to Know
Verdad Gallardo
5 Underrated Mercedes-Benz Models That Don't Get the Love They Deserve
Verdad Gallardo
Mercedes 300D Has Pushed Well Past 1 Million Miles and It Ain't Stopping
Verdad Gallardo
10 Most Reliable Mercedes-Benz Models You Can Buy Used
Verdad Gallardo
Mercedes Teases Updated EQS With Steer-By-Wire and a Yoke
Verdad Gallardo
8 Mercedes Models With Poor Reliability Records
Verdad Gallardo
MBWorld Fanatic!
Joined: Jan 2004
Posts: 1,461
Likes: 1
From: Baltimore MD
MB, BMW
hey AC thanks for the #s. 7500 miles/yr would be impossible for many!!
anyway, that looks like a KILLER deal. even if you pay $12k up front, that still is pretty sweet. BMW had a similar deal where you could pay up to 8 security deposits and that brought down the MF. but they dont have that anymore.
do u think you can get me the same deal from the selling dealer? this yr might be tough but i might be very interested next yr if i can get the same deal. is yours a leftover 2006 or a 2007?
anyway, that looks like a KILLER deal. even if you pay $12k up front, that still is pretty sweet. BMW had a similar deal where you could pay up to 8 security deposits and that brought down the MF. but they dont have that anymore.
do u think you can get me the same deal from the selling dealer? this yr might be tough but i might be very interested next yr if i can get the same deal. is yours a leftover 2006 or a 2007?
Thread Starter
Member
Joined: Dec 2006
Posts: 108
Likes: 0
From: MPLS
2016 E350
2007
Its a 2007. If you are ready to pull the trigger, I can give you the dealer info. I can't guarantee you'll get the same deal, but it should be close if you have pristine credit. Otherwise, let me know when you are ready. You will likely not see deals like this in the spring. Probably will get better when the '08s start arriving though.
MBWorld Fanatic!
Joined: Jan 2004
Posts: 1,461
Likes: 1
From: Baltimore MD
MB, BMW
AC, thanks again for the info. When I'm ready I'll definitely contact you.
BTW, it's shocking that a brand new 07 MB E350s can be bought for almost $10k off msrp. this will only drive the resale value WAY WAY down, there's no way in hell these mint used MBs coming off leases in 2-3 yrs will be worth their residuals. oh well, that's MB's problem, not ours right
BTW, it's shocking that a brand new 07 MB E350s can be bought for almost $10k off msrp. this will only drive the resale value WAY WAY down, there's no way in hell these mint used MBs coming off leases in 2-3 yrs will be worth their residuals. oh well, that's MB's problem, not ours right
Member
Joined: May 2006
Posts: 137
Likes: 1
From: cleveland
Pinto
10k off you mean 8 k plus 2 from benz correct? if so then my calculation then the deal to strive for would be :
be for a 07 e350 4 matic w p1 and panno 59,795 msrp 15k/m/yr 27mo prepay mf= .00190
be for a 07 e350 4 matic w p1 and panno 59,795 msrp 15k/m/yr 27mo prepay mf= .00190
Last edited by Hfdafhx; Jan 21, 2007 at 09:35 AM.
Thread Starter
Member
Joined: Dec 2006
Posts: 108
Likes: 0
From: MPLS
2016 E350
No
That's incorrect. My discount was $6114 and then $2000 cap reduction incentive for a total of $8114 off. I don't know if MB is still offering the $2k money.
Also, your residual - did you base it on 15k miles per year? Looks like 69.5%.
Also, your residual - did you base it on 15k miles per year? Looks like 69.5%.
Member
Joined: May 2006
Posts: 137
Likes: 1
From: cleveland
Pinto
how much under invoice-
i have heard 8k under msrp
Here is one for 10k off
http://cgi.ebay.com/ebaymotors/New-0...QQcmdZViewItem
i have heard 8k under msrp
Here is one for 10k off
http://cgi.ebay.com/ebaymotors/New-0...QQcmdZViewItem
Last edited by Hfdafhx; Jan 22, 2007 at 03:25 PM.
Out Of Control!!
Joined: Aug 2004
Posts: 10,574
Likes: 2
From: Silicon Valley, CA
1999 C280 Previous / 2008 E350
At Beshoff Motors in San Jose, California. I was offered an E350 Sports Package, Brown Leather Seats, Designo Package was not sure. Package 2: Start/Stop button, Bi-Xenon Light, Sports Package, NAV, for $58,596. $700 for 39 w/ $3000. Didn't take it because I thought it was too high. At times I feel I regret doing that.
Member
Joined: May 2006
Posts: 137
Likes: 1
From: cleveland
Pinto
right- 8114 seem to be the best on an new 2007~and you got it -
i have been dealn around but no bites yet.
check out his one 42007 e350 sport for 42k with 5k on it:
http://www.autotrader.com/fyc/vdp.js...1&cardist=1066
i have been dealn around but no bites yet.
check out his one 42007 e350 sport for 42k with 5k on it:
http://www.autotrader.com/fyc/vdp.js...1&cardist=1066
