webada

Just walked out a dealer with a $500 dep on 08 E350, P01 package... $51k with 3.9 APR


Somehow I had the feeling that this isn't the best deal, there was a $4K cash back, the MSRP on the car was about $57K. The sales dude took $4k off, plus another $3k claiming they are not making any money on it.... and the APR ends today.

Only when I realized when I got home, he is actually making $4k over invoice because of the cash back from factory... Could this be the case?


Edit: this is a 4matic..

Untertürkheim

https://mbworld.org/forums/e-class-w211/257994-new-09-e350-4matic-colorado.html

Better to hold off for P2, leather, and parktronic.

beartrap

did you get the sport package with this car and if so was it extra? Its supposed to be a no cost option on the '09's. My '07 E350 4M is due back from a 27 month lease on Jan 5th. I'm waiting till December when I'm being told by my sales rep and the GM that they will have very attractive deals as they need to boost their year end numbers. Oct sales were OK for my local LI dealer but Nov is expected to be slow. The best time to buy/lease a car is always December as MB and the dealers need to boost sales to beat previous year numbers. Consider Lexus December to Remember! It might have been wise to hold off till then unless you needed the car now. Also interest rates are dropping so I would think the cost of money should be less in a few weeks than it is now.

I'm also considering the new GLK 350 as a replacement for the E350. The one that has cought my eye is the Edition 1 model, very sporty looking. Fully loaded this has got to be less than a heavily discounted E350 and should have a higher residual value. Does anyone know if these new models will be available with the new 350 CGI Blue EFFICIENCY engines which give a 15% more power boost over the current 350 engine?

Thx

webada

Yea I had consider to hold off til Dec, but this is really for my dad who needs a car..... anyways, it does comes with a sports package for free.

Anyone know if $51k is a good price?

sosh

You received a fair deal. Enjoy the car and stop worrying about it.

220S

Sounds about right. I bought a MY09 E350 Sport (P2, leather, panorama, parktronic, trunk close, shades, door sills.) MSRP was $63485, invoice was $59150, and they sold it to me for $56155.

They weren't going to budge. We got stuck at that price. I even walked but that's all they'd do. Bear in mind that I bought it instead of leasing and yet they still gave me most of the cash back lease incentive they get from MB.

In the end, who knows what they really end up getting back in trunk money. And they'll always say they aren't making any money on the deal, blah, blah. After a while I kind of get tried of the game. I realize that's their ploy and they have all the time in the world. But my time is worth a few dollars, too.

Enjoy the car! Or, at least I hope your Dad enjoys it........

webada

Thanks for your sentiments, I think your deal is much way better, remember I am putting down for a 08 even though the dealer kept assuring me that the cars are the same.

You are getting almost 7k off MSRP on 09 and I am getting 6K off an 08. Its not really the money either when you are buying the car at this price, I just don't appreciate shady salesman who trying to push tricks and gimmicks.

I think I will go back to my dealer and cancel the order.

Thanks again.

220S

I think the cars are pretty much the same, but the MY09 COMAND is now a HDD based system.

Maybe approach the dealer again and see if they will give you a new deal. Doesn't hurt to try and I bet they will do better. I think they should for a MY08 sitting on the lot.

I hate playing this game, too. But that's the way car sales are, unfortunately. I think I was just fortunate to find a high volume dealer that had the car on the lot and who seemed to get right to the point (i.e., $$) with very little BS. Also, they never asked for a deposit or signature to seal it. It was just my word that I'd come get it if I wanted it.

sosh

Looking at your posts its my opinion that price is not really the issue but that you may be having a case of buyers remorse which can be common. I have also learned after years on this and other sites that what you hear about other deals is not always correct.

220S

And your implication is.....?

Thanks for your respect.

sosh

My implication is just buy the car you want from the dealer you want with the best possible negotiated deal and enjoy the car!! Deals will vary by geographic area (market areas). Don't worry about saving a few bucks as in the long run it means nothing.

nkole

My understanding is the backend money on this car is equal to the delta between MSRP and invoice. So the actual cost should be somewhere around invoice minus the above delta and the $4K incentive.

Try sending e-mails to a couple of the high volume dealers in your area. I've had good luck with South Bay and Caliber.

Neil

TPAbnz

I agree, especially when dealing with a year-end leftover. webada, did you investigate the dealer's holdback? I'd guess at least another 1 - 2.5%.

But, to answer your question . . . yes.

Sorry I can't give you one of the feel-good answers above. Since you asked the question, I'd guess that you do care about saving some bucks, like most of us!

But, email lots of dealers and I'm sure you'll find a better deal you'll be happy with. Good luck and enjoy a great car at a better price!!

K-A

It's not a bad deal by any means at all, but if you aren't concerned with spending just a little bit more, I'd cancel the order and negotiate on an '09, which you will get better Resale with (newer), AMG option at no extra charge, new Navi Features, etc.

I vote to go back and see what you can do on an '09 just in case.

220S

Is that $4k incentive for lease only? That was my understanding. I bought mine in October and only got the delta between MSRP and invoice off the invoicing pricing for my final price. I bought mine, and they said there was a $3500 incentive they could get from MB if I leased only. But they made money from somewhere. There was marketing money from MB for E Class cars at the time, too.

My other issue was it was a MY09 that is rarely optioned the way it was by the dealer for the floor. In fact, it was a car the sales manager said he had originally built himself. They weren't going to move from their 'final' price. And I couldn't find the same optioned car anywhere else in the region.

I'm guessing leasing a MY08 with basic options off the floor should have a lot more incentives.

Z356

220S: You would think...but that is not the case. Once the '09 E models arrived in late August, leasing a leftover '08 would have been more expensive due to the financial guidelines used by MB Financial and bank leasing companies. The leftover '08s would have been considered one year old and they have to factor the additional 'depreciation' and a higher money rate for the 'old' model, making a 'new model' '09 E a much better lease deal as of that date. In general, even buying a leftover model year new car doesn't make much sense - unless you get a 'smoking deal' that involves an actual & massive loss to the dealership in the sale (e.g. $20K under invoice). Normally, even if they sell it to you at their cost + any trunk money from MB, the extra money you might save upfront you will lose in the guaranteed greater depreciation when you sell it. Regardless, given the better Comand and other improvements in the '09 model, I would strongly recommend choosing the '09 model year E class over an '08. Saludos, Z356

nkole

My understanding is the $4K incentive can be taken in cash without a lease. I recently bought an 08 S550 which has a $10K incentive; no lease.

Neil

220S

Hmmm. That's not what they told me. They said $3500 on lease only. Oh, well.

So, you paid invoice less the delta between invoice and MSRP and an additional $10K off? That's pretty good! $15K off invoice?? Yikes, I only could get around $3000 off invoice back in early October on a purchase and not a lease.

nkole

By my calculation, it was $16.9K back of invoice. Also got $450 worth of free accessories, (bluetooth and some other trinkets). The California market is flooded with cars that aren't moving. Don't waste time visiting dealerships. The power of e-mail is amazing when driving a smokin deal....

220S

Yeah, I realizing now that it's a MY08 S550 you were referring to. That makes sense now. Comparing apples and oranges. Those cars have become worthless for the dealer, here in SoCal. My dealer was trying to unload MY08 E and S 550s to me, too. Manheim auction prices have also plummeted on those. MY09s E350s are a different story, plus there was a price increase in October. Although there should be some new incentives in December. Thanks for the info.

K-A

I'm just waiting until '07 S550's drop into the $30-40's It hasn't happened yet (not even close from what I've seen), but you know how it works with M-B's, once a few of them get sold at that price, more and more hit the market at incredibly low prices.

webada

First of all, thanks for all the info.

To give an update:

I was able to negotiate an 09 from another dealer for about 2k more than then 08 the original dealership was giving me. I suspect the 08 should have been way lower than $51k

The nov. deal is 3600 cash back for leases only, so your money factor on a 09 lease would be lower than a 2... pretty attractive....

webada

After inquires to other dealers, your assessment is right on the money.

220S

Congrats. I'm glad to hear it worked out. Plus you'll have the MY09 upgrades (e.g., COMAND.)

I'm also glad to hear that the $3600 cash back is confirmed to be for LEASE only. That's what my dealer told me, too (although they did give me some of it back on my purchase in the end; their own way of sweetening the deal to get me to buy the car.) So, it looks like your deal should be similar to mine now. Good work!