E550 Leases- What are you paying
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Super Member
Joined: Jun 2007
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From: San Jose
08 E 6point3-sold- 11 caddy cts-v-sold, 2012 E63 Palladium Silver
E550 Leases- What are you paying
Was considering a e550 or an e63 to save money. The e550 sounds like a better deal in performance and horsepower. I wanted to know what people are paying for their 550
thanks
thanks
Senior Member
Joined: Jul 2007
Posts: 314
Likes: 1
From: Ft. Lauderdale, FL
1972 280SE 4.5
You're asking a very subjective question! :-)
- What's your credit like?
- Are you looking to buy or lease?
- Planning to put money down?
- How many months are you looking at?
All of the above are variables that could make your payment move between $500 and $1,500 per month.
I know a fair amount about leasing. I'll be glad to help if you're planning to go that route. But, I need more info.
- What's your credit like?
- Are you looking to buy or lease?
- Planning to put money down?
- How many months are you looking at?
All of the above are variables that could make your payment move between $500 and $1,500 per month.
I know a fair amount about leasing. I'll be glad to help if you're planning to go that route. But, I need more info.
Junior Member
Joined: Aug 2003
Posts: 15
Likes: 0
From: So Cal, USA
07' SLK280, 05.5 Audi A4, 07' Triumph Bonneville
Interesting take on answering the question.
I am currently looking at the E350 but if I could get the E550 for a price close to the same I would...
- What's your credit like?
tier one
- Are you looking to buy or lease?
lease
- Planning to put money down?
1500
- How many months are you looking at?
24 - 36 months
I am currently looking at the E350 but if I could get the E550 for a price close to the same I would...
- What's your credit like?
tier one
- Are you looking to buy or lease?
lease
- Planning to put money down?
1500
- How many months are you looking at?
24 - 36 months
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Senior Member
Joined: Jul 2007
Posts: 314
Likes: 1
From: Ft. Lauderdale, FL
1972 280SE 4.5
Excentric, here’s the scoop. Doing the numbers with Mercedes-Benz Financial (MBF) published rates for December against the Winter Sales events shows that MBF is bumping the residual value 3 points (from 63% to 66%). Below are the numbers for the winter sales event on a E350 with P1.
MSRP $54.085
Cap Cost $50,443 (invoice is $50,353)
Term 24 months
Down Payment $2,850
Residual 66% for 24m and 55% for 36m
MF .00100 (2.4%)
The numbers above give you the exact advertised $579 per month. Since you said you only wanted to put down $1,500, which is just enough for inception fees (first month, dealer fee, acquisition fee), below are the payments for the car above, but with no down payment.
Same terms as above with no money down $700.60
Now, assuming that you are able to get the same deal on 36 months AND that MBF is willing to bump the published residual value by 3 points, below is the monthly payment on a 36-month lease for the car above; also with no money down.
Same terms as above at 36 months $717.36
So, it looks like the best deal is definitely 24 months. It’s a shorter term and lower payment.
Onto the E550…
Traditionally, a V8 is more expensive to lease for two reasons: first, its more expensive (the obvious) and second, the car is worth virtually the same or sometimes even less at auction, where it will end up after its turned back in (the not so obvious). So, the depreciation is higher making the residual value lower.
I’ve made some assumptions in my calculation below. The first is that you would be able to get the same 3-point bump as the E350. The second that the dealer is willing to give you the car at invoice like the E350. Getting these numbers is going to depend on your negotiating skills, your relationship with the dealer (if you’re a prior customer), and their willingness to cut you a deal. Below is the breakdown on the E550 with P1.
MSRP $63.035
Dealer Contribution $58,757 (invoice is $58,677)
Term 24 months
Down Payment 0
Residual 61% for 24m and 51% for 36m
MF .00150 (3.6%)
Payment for 24 months with no down payment $991.00
Payment for 36 months with no down payment $875.00
As I’ve said before, it all depends on the car, the options, the engine, the mileage, etc. All of the above calculations are based on 10,000 miles a year. You can reduce the residual by 2 points for 12,000 miles and another 2 points for 15,000 miles per year. Also, all payments above do not include tax. You must add your state's sales tax.
Hope this helps!
Jose
MSRP $54.085
Cap Cost $50,443 (invoice is $50,353)
Term 24 months
Down Payment $2,850
Residual 66% for 24m and 55% for 36m
MF .00100 (2.4%)
The numbers above give you the exact advertised $579 per month. Since you said you only wanted to put down $1,500, which is just enough for inception fees (first month, dealer fee, acquisition fee), below are the payments for the car above, but with no down payment.
Same terms as above with no money down $700.60
Now, assuming that you are able to get the same deal on 36 months AND that MBF is willing to bump the published residual value by 3 points, below is the monthly payment on a 36-month lease for the car above; also with no money down.
Same terms as above at 36 months $717.36
So, it looks like the best deal is definitely 24 months. It’s a shorter term and lower payment.
Onto the E550…
Traditionally, a V8 is more expensive to lease for two reasons: first, its more expensive (the obvious) and second, the car is worth virtually the same or sometimes even less at auction, where it will end up after its turned back in (the not so obvious). So, the depreciation is higher making the residual value lower.
I’ve made some assumptions in my calculation below. The first is that you would be able to get the same 3-point bump as the E350. The second that the dealer is willing to give you the car at invoice like the E350. Getting these numbers is going to depend on your negotiating skills, your relationship with the dealer (if you’re a prior customer), and their willingness to cut you a deal. Below is the breakdown on the E550 with P1.
MSRP $63.035
Dealer Contribution $58,757 (invoice is $58,677)
Term 24 months
Down Payment 0
Residual 61% for 24m and 51% for 36m
MF .00150 (3.6%)
Payment for 24 months with no down payment $991.00
Payment for 36 months with no down payment $875.00
As I’ve said before, it all depends on the car, the options, the engine, the mileage, etc. All of the above calculations are based on 10,000 miles a year. You can reduce the residual by 2 points for 12,000 miles and another 2 points for 15,000 miles per year. Also, all payments above do not include tax. You must add your state's sales tax.
Hope this helps!
Jose
Last edited by baxterdown; Dec 9, 2007 at 01:38 PM. Reason: Added salex tax info.
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Out Of Control!!
Joined: Aug 2004
Posts: 10,574
Likes: 2
From: Silicon Valley, CA
1999 C280 Previous / 2008 E350
Out Of Control!!
Joined: Aug 2004
Posts: 10,574
Likes: 2
From: Silicon Valley, CA
1999 C280 Previous / 2008 E350
Onto the E550…
Traditionally, a V8 is more expensive to lease for two reasons: first, its more expensive (the obvious) and second, the car is worth virtually the same or sometimes even less at auction, where it will end up after its turned back in (the not so obvious). So, the depreciation is higher making the residual value lower.
I’ve made some assumptions in my calculation below. The first is that you would be able to get the same 3-point bump as the E350. The second that the dealer is willing to give you the car at invoice like the E350. Getting these numbers is going to depend on your negotiating skills, your relationship with the dealer (if you’re a prior customer), and their willingness to cut you a deal. Below is the breakdown on the E550 with P1.
MSRP $63.035
Dealer Contribution $58,757 (invoice is $58,677)
Term 24 months
Down Payment 0
Residual 61% for 24m and 51% for 36m
MF .00150 (3.6%)
Payment for 24 months with no down payment $991.00
Payment for 36 months with no down payment $875.00
As I’ve said before, it all depends on the car, the options, the engine, the mileage, etc. All of the above calculations are based on 10,000 miles a year. You can reduce the residual by 2 points for 12,000 miles and another 2 points for 15,000 miles per year. Also, all payments above do not include tax. You must add your state's sales tax.
Hope this helps!
Jose
Traditionally, a V8 is more expensive to lease for two reasons: first, its more expensive (the obvious) and second, the car is worth virtually the same or sometimes even less at auction, where it will end up after its turned back in (the not so obvious). So, the depreciation is higher making the residual value lower.
I’ve made some assumptions in my calculation below. The first is that you would be able to get the same 3-point bump as the E350. The second that the dealer is willing to give you the car at invoice like the E350. Getting these numbers is going to depend on your negotiating skills, your relationship with the dealer (if you’re a prior customer), and their willingness to cut you a deal. Below is the breakdown on the E550 with P1.
MSRP $63.035
Dealer Contribution $58,757 (invoice is $58,677)
Term 24 months
Down Payment 0
Residual 61% for 24m and 51% for 36m
MF .00150 (3.6%)
Payment for 24 months with no down payment $991.00
Payment for 36 months with no down payment $875.00
As I’ve said before, it all depends on the car, the options, the engine, the mileage, etc. All of the above calculations are based on 10,000 miles a year. You can reduce the residual by 2 points for 12,000 miles and another 2 points for 15,000 miles per year. Also, all payments above do not include tax. You must add your state's sales tax.
Hope this helps!
Jose
Out Of Control!!
Joined: Aug 2004
Posts: 10,574
Likes: 2
From: Silicon Valley, CA
1999 C280 Previous / 2008 E350
MBWorld Fanatic!
Joined: Jan 2007
Posts: 2,507
Likes: 27
‘23 EQS AMG
Senior Member
Joined: Jul 2007
Posts: 314
Likes: 1
From: Ft. Lauderdale, FL
1972 280SE 4.5
gl996tt,
By your signature, I see that you leased a GL450. You can't compare between different cars when it comes to leasing. The factors that affect a lease payment vary wildly from car to car, even withing one manufacturer.
As much as we love our E-Class, unfortunately, they are worth very little at auction. That is why they are so expensive to lease. The GL-Class retains its value tremendously and it is doing very well at auction. That is why MB is able to lease the truck so (relatively) inexpensive.
Other examples of cars that hold and don't hold their value are the Range Rover, which is worth nothing after you drive it off the lot. And the BMW X5 which retain its value very well.
PLEASE KEEP IN MIND, I am talking strictly auction pricing, which is very different than retail pricing. Hope this clarifies your confusion.
j.
By your signature, I see that you leased a GL450. You can't compare between different cars when it comes to leasing. The factors that affect a lease payment vary wildly from car to car, even withing one manufacturer.
As much as we love our E-Class, unfortunately, they are worth very little at auction. That is why they are so expensive to lease. The GL-Class retains its value tremendously and it is doing very well at auction. That is why MB is able to lease the truck so (relatively) inexpensive.
Other examples of cars that hold and don't hold their value are the Range Rover, which is worth nothing after you drive it off the lot. And the BMW X5 which retain its value very well.
PLEASE KEEP IN MIND, I am talking strictly auction pricing, which is very different than retail pricing. Hope this clarifies your confusion.
j.
Junior Member
Joined: Apr 2007
Posts: 71
Likes: 0
From: Los Angeles
2007 Mercedes E550
gl996tt,
By your signature, I see that you leased a GL450. You can't compare between different cars when it comes to leasing. The factors that affect a lease payment vary wildly from car to car, even withing one manufacturer.
As much as we love our E-Class, unfortunately, they are worth very little at auction. That is why they are so expensive to lease. The GL-Class retains its value tremendously and it is doing very well at auction. That is why MB is able to lease the truck so (relatively) inexpensive.
Other examples of cars that hold and don't hold their value are the Range Rover, which is worth nothing after you drive it off the lot. And the BMW X5 which retain its value very well.
PLEASE KEEP IN MIND, I am talking strictly auction pricing, which is very different than retail pricing. Hope this clarifies your confusion.
j.
By your signature, I see that you leased a GL450. You can't compare between different cars when it comes to leasing. The factors that affect a lease payment vary wildly from car to car, even withing one manufacturer.
As much as we love our E-Class, unfortunately, they are worth very little at auction. That is why they are so expensive to lease. The GL-Class retains its value tremendously and it is doing very well at auction. That is why MB is able to lease the truck so (relatively) inexpensive.
Other examples of cars that hold and don't hold their value are the Range Rover, which is worth nothing after you drive it off the lot. And the BMW X5 which retain its value very well.
PLEASE KEEP IN MIND, I am talking strictly auction pricing, which is very different than retail pricing. Hope this clarifies your confusion.
j.
MBWorld Fanatic!
Joined: Sep 2002
Posts: 2,923
Likes: 3
Mercedes Benz
The MB plan for the E63 asks for $7,700 down. So its a 1200 a month payment NOT a 999 payment. Its just simple math. Why give MBUSA 7,700 ti play with. Leave it invested, make money on it and pay it monthly. Plus if your car is totaled or stolen your 7,700 could very well be all gone!
E550 is 900 ish and a BASE 63 is 1200. Add say P2 to the E63 and its a 1400 a month car. Suddenly its not such a steal.
E550 is 900 ish and a BASE 63 is 1200. Add say P2 to the E63 and its a 1400 a month car. Suddenly its not such a steal.
Out Of Control!!
Joined: Aug 2004
Posts: 10,574
Likes: 2
From: Silicon Valley, CA
1999 C280 Previous / 2008 E350
Junior Member
Joined: Aug 2003
Posts: 15
Likes: 0
From: So Cal, USA
07' SLK280, 05.5 Audi A4, 07' Triumph Bonneville
Thanks so much for all the detail. This makes my decision a very easy one. I have a quote on a E350 with little down and a 550/month payment. Once I add a couple options, i will be at 620 or so and will be a happy camper. Definately a bit less than 700.
