Gregg2gs

I purchased my new E320 on 12/31/02- No money down; taxes and gas guzzler up front; 39 months; 12K/yr- Monthly lease price = $608.80 purchase price retail $54,210 my price $51,210.

My E320 is Blk/Char, E2 (logic 7 & sunroof), E3 (sports package), in dash CD and heated seats. Car was purchased in NYC area.

Please share your prices, as I am very interested what others paid. In addition, my residual was 69 with a .00285 money factor.

What is the Jan/Feb #'s?????

Thanks,

Gregg

DPBlessing

Gregg;
Based on my leasing software, and also checking at leasecompare.com something does not seem to add up with the numbers.
If the basis, cap cost, residual, miles, etc. are all as noted, at a .00285 MF the payment seems to be around $710 without sales tax.
To get the payment you indicate, the MF would want to be around .0016 (or about 3.9% interest rate).
69% residual also seems pretty high, although that is what I "forced" into my leasing software to get the $710 monthly payment. Leasecompare.com says the residual would be around 55%.
Am I missing something?
Also curoius, what is your mileage penalty rate?
Doug

Gregg2gs

Doug:

All numbers are verbatim per my lease agreement contract. My friend and I also worked the same numbers through our lease calculators and the numbers did not work out either. The lease price I received would entail a $46,XXX base price at the same residual and money factor.

IN EITHER CASE, I THINK I GOT AN AWESOME DEAL! Just want to confirm. I must say that the next best price I received in order was- 618, 647, 672 from three other dealers in the tri-state area. All said I HAD to take delivery before 1/01/03, so I did- $608.80.

Did you purchase one/lease one?

Gregg2gs

Mileage penalty rate is, I believe, .25/mile over.... maybe .20, but I think .25

mike_fern2001

E500- sport package- keyless-(e2-e3)

20,000 miles per yr/39 months
$3900 out of pocket
$839.00 per month
was told I did quite well- was told i got burnt....!
responses greatly appreciated

Silver_Lana

I'm no expert but you seem to have made out like a bandit.

mike_fern2001

tks! if u are right- its prob the first thing that everywent well

the funny thing is that i went via a leasing company who then hooked me up with one of the lrgest dealers in nj

DPBlessing

Gregg;
you did get an awesome deal.
I am in awe, and then some
I leased my '02-E320 for $698 / mo, zero down, 48 mos, residual at 50%, mf = .00180.
Pretty good deal.
But compared to yours, well... You da Man !
Can I fly you out to negotiate my next car deal, please ???

Doug

george777

Gregg,

Certainly a very good deal; what is the dealership?

I think I might be paying them a visit soon.

Gregg2gs

WOW! OK. I guess I feel better about the price I paid. However, I'm sorry you guys didn't get as good a deal (at least from what I am reading).

I leased my E320 from Rallye Motors Mercedes in Roslyn NY (Long Island). Has one of the nices tguys as a salesman. I test drove with him in begining of Nov 2002. Was quoted $790/month on the E320 and $940/month on the E500- both with Sports package and heated seats, E2 and CD in dash (nothing else).

I then went to 4 other dealerships within the Tri-State area and proceeded to pit one dealer against the other (embelishing on numbers each time around). Finally I received a quote over the internet from a dealership in NJ. He gave me a price guarantee of $618/month on the same E320 I have now (except the color combo was white/sand). I then went back to my original dealer (Rallye) and told the sales guy, "Listen, I like you the best; you were the kindest out of all the sales people I met with, however, the guy in NJ is giving me a great deal. If you could beat $618/month by more than $5/month, then I will give you the business." So, there you have it! I purchased my E320, E2, E3, heated seats, in dash cd Blk/Char for $608.80, zero money down, taxes up front. Out the door for $3,4XX on Dec 31, 2002.

For a fee, I will negotiate anyone's deal. I have 10 friends that swear they will never go to a dealership without me. I am looking forward to destroying BMW when the new 5 or 6 series comes out (after my lease is up on the MB- unless, there is a new MB at the time).

IQguy

I wanted the lowest residual value at the end of lease.
320 with full leather, CD changer, pano roof, HK sound.
Invoice 48700, selling price 49700.

10000 down.
1141 monthly X 36 months.
15 K miles annually.

But, residual value of 13K.

Have no idea how I did.
(Lease compare calculator indicates I will pay 64K for 54K total cost plus tax on 13K when I buy it)

Joseesq

Thanks for all the posts here. I sent out a mass e-mail to various So.Cal. MB dealers with the link to this thread and told them to beat it. In short, the Santa Monica MB dealer got me an E320, Black/Charcoal, E2, E3 and CD changer at the following terms:

$4,000 total drive-off
$560/month including tax (39-months)
15,000 mileage allowance annually
Residual about $34,500 (but I'm not buying)

Very happy. Thanks again for all the posters.

cappy

We'd be much obliged if you'd post your residual and money factor. Thanks!

Joseesq

The paperwork is at home, but what I can remember is that the selling price is approximately $48,500 and cap. cost reduction of $1,900. To get the monthly depreciation fee you subtract the residual ($34,500) from the net cap cost ($46,600) and then divide that number by the 39 month lease term, which totals $310.26. Believing that the monthly depreciation fee and finance charge total appx. $512.70, then the monthly finance charge would equal appx. $202.44. Now divide $202.44 by $81,100 (net cap cost plus residual), you would get a MF of approximately .0025. Caveat, I am not an account or math wiz so my calculations may be totally off, however there should be enough information from my approximate numbers of the residual balance, net cap cost and cap cost reduction to get the numbers you want. Hope that helps.

cappy

Thanks much, JOSEESQ. May I ask if you went through MBCredit or Chase? Or some other bank?

Joseesq

Cappy,

I went through MBCC. Please also note that the car I leased was an executive demo, however, the warranty is effective on the date of my lease. It had appx. 4,000 miles on it and it was represented to me that the Service Manager was the "executive" who drove it.

briar

For those of you out there that really want to understand lease details
In addition to lease compare.com, I'd recommend reviewing information at www.bankrate.com.
This site was very helpful to me when I was trying to decide how to compare various leases.
It also has an online worksheet to compare leases at;
http://www.bankrate.com/brm/news/auto/19990602a.asp
Good Luck