Leasing a New E- Class...Credit Score Required?
Thread Starter
Newbie
Joined: Apr 2007
Posts: 12
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From: Riverside, California
2007 E63
Leasing a New E- Class...Credit Score Required?
ok i want to lease an new e-class maybe priced about 55k...my credit is not the best in the world...wat kind of credit score do you have to have to lease a MB....i am willing to pay about 6-9k down...with payments of less than 1400...is that possible?
oh yeah i want a mercedes with amg pack and nav
oh yeah i want a mercedes with amg pack and nav
MBWorld Fanatic!
Joined: Mar 2004
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From: Ft. Lauderdale Area, USA
2015 ML 350
720+ is also Tier 1, but that doesn't mean you can't lease an E if you're below. It just means you will have to shuffle your down payment (cap cost reduction?) or pay more monthly. Maybe.
Senior Member
Joined: May 2004
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From: Lone Star State.
W211 2005 CDI, X166 2013 350 BT, 997.1 2008 C4S
ok i want to lease an new e-class maybe priced about 55k...my credit is not the best in the world...wat kind of credit score do you have to have to lease a MB....i am willing to pay about 6-9k down...with payments of less than 1400...is that possible?
oh yeah i want a mercedes with amg pack and nav
oh yeah i want a mercedes with amg pack and nav
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MBWorld Fanatic!
Joined: Nov 2001
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From: Philadelphia area
2010 ML550, 2010 E350 4M, 1966 Corvette Convt C2
With a credit score as you state its quite simple. You can't afford the car. To spend 9000 up front is rediculous on a lease and that will drive your credit score even lower. Your considering the car lease in your situation is most likely why your credit score is that low. You should learn how to manage what money you do have.
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Super Member
Joined: Mar 2003
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was '03 E320 - now - '04 S4
With a credit score as you state its quite simple. You can't afford the car. To spend 9000 up front is rediculous on a lease and that will drive your credit score even lower. Your considering the car lease in your situation is most likely why your credit score is that low. You should learn how to manage what money you do have.
If you really need an E - $9K is almost 50% of the cost of a used '03 E320 now.
MBWorld Fanatic!
Joined: Mar 2003
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From: So Cal
2010 RRS ; BMW K1200R; 14 E350 ; 14 RRS on order
Even with a 600 Fico you should be able to get a $55k car for around $6K down and $700-$800 / mo.
Also try leasecompare.com cause you don't have to get the leasing done through MBCredit. You can go with other banks.
Also try leasecompare.com cause you don't have to get the leasing done through MBCredit. You can go with other banks.
MBWorld Fanatic!
Joined: Nov 2001
Posts: 4,260
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From: Philadelphia area
2010 ML550, 2010 E350 4M, 1966 Corvette Convt C2
Its not being lazy. This is called being fiscally irresponsible. How do you know they have plenty of money. Even homeless people at times have wads of cash in their pockets.
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Tesla Model S P100D
You are all giving very good advice. Unless you have a business/tax reason to do otherwise, the way to buy these cars is with cash/outright purchase and hold onto them for a while. Of course if money is not an issue all this is a moot point and in which case, I don't think anyone would be here posting about affording a lease anyway.
I second the advice of the person who asked to buy a 2003 E320/E500 and put into it the money that was going to go into the lease.
I second the advice of the person who asked to buy a 2003 E320/E500 and put into it the money that was going to go into the lease.
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From: Caribbean/Florida/Colorado
E-ZGO 53hp., 1999 E 430 sport, 2004 E 55, 2008 Tahoe LTZ on 24"s
ok i want to lease an new e-class maybe priced about 55k...my credit is not the best in the world...wat kind of credit score do you have to have to lease a MB....i am willing to pay about 6-9k down...with payments of less than 1400...is that possible?
oh yeah i want a mercedes with amg pack and nav
oh yeah i want a mercedes with amg pack and nav
Newbie
Joined: Apr 2007
Posts: 19
Likes: 0
From: Cupertino, CA
07 E350, 07 Tahoe LTZ
Aside from your financial position do consider your long term goal.
Are you the type of person who would like to change cars in 3-4 years?
Can you live having car payments?
Do you want the most car for the money you have?
If you answered yes to all the questions then leasing is a great option.
A
Are you the type of person who would like to change cars in 3-4 years?
Can you live having car payments?
Do you want the most car for the money you have?
If you answered yes to all the questions then leasing is a great option.
A
MBWorld Fanatic!
Joined: Nov 2001
Posts: 4,260
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From: Philadelphia area
2010 ML550, 2010 E350 4M, 1966 Corvette Convt C2
You are all giving very good advice. Unless you have a business/tax reason to do otherwise, the way to buy these cars is with cash/outright purchase and hold onto them for a while. Of course if money is not an issue all this is a moot point and in which case, I don't think anyone would be here posting about affording a lease anyway.
I second the advice of the person who asked to buy a 2003 E320/E500 and put into it the money that was going to go into the lease.
I second the advice of the person who asked to buy a 2003 E320/E500 and put into it the money that was going to go into the lease.
Agree with you re the lease, however with this guys financial situation I would not suggest any MB new or used. He is in a position where he most likely cannot afford to maintain and insure a used one. Hes far better off with a new or used economy car od some sort.
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Joined: Jun 2005
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From: FL410
'05 E320 CDI, '08 BMW X5 4.8i, '11 Duramax 2500HD
I am old fashioned but I think if you can't pay cash for it, then you should not lease it either... meaning, it's ok to lease it, but you should also be able to afford to pay cash for it which demonstrates you can actually afford it. I paid cash for mine because I didn't want to hassle with payments and pay interest, but frankly if there was a good lease on a CDI with the options I wanted I may have leased it too, but not with any more than $4000 out of pocket.. not for a lease!
MBWorld Fanatic!
Joined: Mar 2004
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From: Ft. Lauderdale Area, USA
2015 ML 350
In all cases, Leasing allows for a person who can not afford to buy the car, to "own" it for 36 months at half price.
There are people who can afford to buy, who do lease, but the 2 reasons for Manufacturers to have invented auto leasing are:
1. To allow more people who otherwise would not be a customer for the car to become a customer. (For 36 Months.)
2. To keep the Factory at increased levels of production to fill the demand created by these new additional customers.
There are people who can afford to buy, who do lease, but the 2 reasons for Manufacturers to have invented auto leasing are:
1. To allow more people who otherwise would not be a customer for the car to become a customer. (For 36 Months.)
2. To keep the Factory at increased levels of production to fill the demand created by these new additional customers.
MBWorld Fanatic!
Joined: Apr 2006
Posts: 2,139
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Tesla Model S P100D
This seems like a good question for Suze Orman's "Can I afford it" segment 
...and I know what she's going to say! Which is what has been said by the majority of posters. Wait a while. Pay off your bills. Improve your credit. Buy the car when you are better able to handle the fiscal aspect of it.
...and I know what she's going to say! Which is what has been said by the majority of posters. Wait a while. Pay off your bills. Improve your credit. Buy the car when you are better able to handle the fiscal aspect of it.
Thread Starter
Newbie
Joined: Apr 2007
Posts: 12
Likes: 0
From: Riverside, California
2007 E63
ok guys
how goes an e63 with p2 and panaramic sunroof with parktronic...electronic trunk closer...all the junk.....for 1300/month for 33 months lease with 15000 miles a year with 2763 down
is that a good deal
oh yeah the money factor is 300
let me know if its good and if i should go for it
how goes an e63 with p2 and panaramic sunroof with parktronic...electronic trunk closer...all the junk.....for 1300/month for 33 months lease with 15000 miles a year with 2763 down
is that a good deal
oh yeah the money factor is 300
let me know if its good and if i should go for it
Newbie
Joined: Aug 2006
Posts: 7
Likes: 0
You can get one with tear 2 thats 680-719. Mb finace uses transe union, So if you got that, this is what you can get... E350 priced about $57k
$1500 out of pocket $706.99 for 36 Mo. lease thats 10k miels a year. Thats what i got. I have Black on Black with PII packeg and the mettalic paint, and i got the sport's packeg for free. This car is the ****. if you need more INFO you can Email me @ harout01@gmail.com and ill get you more INFO. and dont ever give them more then $2500 out of your pocket....
good luck geting that E-calss.
P.S. 2007 E 350's do not come with the amg packeg any moore you can get it with a E 550 but its verry hard to find so thats why there giving away the new sport Pkg. out.
$1500 out of pocket $706.99 for 36 Mo. lease thats 10k miels a year. Thats what i got. I have Black on Black with PII packeg and the mettalic paint, and i got the sport's packeg for free. This car is the ****. if you need more INFO you can Email me @ harout01@gmail.com and ill get you more INFO. and dont ever give them more then $2500 out of your pocket....
good luck geting that E-calss. P.S. 2007 E 350's do not come with the amg packeg any moore you can get it with a E 550 but its verry hard to find so thats why there giving away the new sport Pkg. out.
Last edited by harout01; May 8, 2007 at 04:17 AM.
