jnam1978

hi guys im a new b first of all so please give me some advice.

was at the dealer other day to lease 2010 e550 with sports and p2 and the offer they gave me after putting 8900 down is 1150 per month for 48 month.

i was so close to sign it but on the other hand i didnt like the idea of just paying so much not to own any of it at the end of the lease so i told them that i dont want the car anymore. since they had to order the car for me ( they didnt have the one i wanted at that dealer) they were pretty upset that i said no after they order the car. so i told them why i dont want it anymore and the top manager asked me whats the deal i want. i told him i want to purchase instead of lease if he can match the price at 1050 per month with 8900 down. final offer they gave me was at 1070 per month with 8900 down for 66 month.

i think this is decent deal but since they tried to charge me 1150 initially and told me that it was a good deal for a lease i dont know if i should trust this one to be a good deal anymore.

i think im going to sign it tomorrow so please let me know. oh yeah i also have that tire protection ding protection maintants thinngie all included in that 1070 per month

infantry

your gonna be paying 79k for that car, whats the MSRP? are you military? if so you can join USAA which is a bank/car insurance, and they offer 1-5k off MSRP and some additioinal incentives on certain vehicles.

that just seems a bit too high to be honest.

don't negotiate monthly payments man, thats your first mistake right there, always negotiate the price first then talk financing.

infantry

this is just the e550 SPORT with p2 only any other features?

jnam1978

No I am not in a military. From what i understood with all the options msrp was at $66000 and all the protection cost extra 5000+ and the APR Ive got was 3.9
But on top of all this it will be really helpful to know paying how much per month is consider a good deal after dp 8900 with 66month purchanse with options that i have. And that lease deal i metioned above.. is it consider ridiculusly high? If possible i also want to get a idea how much per month on that similar lease deal is consider a good deal. Thank you

infantry

i have no clue on leases bro. sorry .. i really don't recommend it, im a car guy, i like to have a value and no limits on my mileage and come out with something with it, a car! that i can sell!

I would say negotiate from invoice man, talk to another dealer, then have the 2 dealers fight for your business, DO NOT BE AFRAID TO WALK AWAY!

and what protection cost are you talking about? the onlly thing i really would recommend is the extended warranty, and thats it! your APR is good, i actually got 1.9% on my CPO with a credit score of 602! lol i only financed the minimum amount just so i can build credit though.

if you want the best bang for your buck, i would go get a loan from a bank for about 70k and especially if you go to a credit union and you have great credit youll get a killer deal, then go in there talking cash. try to get as close to invoice as possible, they will show you the figures, the real ones!

K-A

My personal opinion, 1+K for an E-Class (albeit it is a nice big ole' V8 with P2 I understand) is a bit muuuch, especially with how they depreciate, although I think you're on the right mind-set of not wanting to pay that much to rent it.

We all have our own opinions of this, and our own financial situations, so obviously these will all differ.

I've been noticing some good deals on W212's popping up as CPO vehicles already. Honestly, you can get a new E-Class with under 5K miles on it, with a CPO, which gives you WAY more Warranty (one extra year and a whole 50K more mileage), and you can probably save several thousand dollars off the bat, i.e get your payments under $1K a month I'd assume. To me it's a no brainer, but hey, that's just me.

infantry

+1^^^ i never buy new, but thats just me. i let someone else take the $10k bullet to the face.

jnam1978

thank you so much guys for quick response. yet i still want more people to share your thoughts on this so please leave your opinions. thank you

K-A

Same here (I'm assuming you mean you never buy *New*, lol), to me personally, buying New is like throwing money down the drain, plus, in this day and age, buying CPO gives you lots more Warranty Coverage. If I Leased it would be a different story, but I'm like you, I like to get attached to and "baby" my cars, even if I end up selling it sooner than expected, it's part of the experience to me. If I Leased, I'd give a damn about it, haha. Buying CPO usually will give you the same if not better value than Leasing, yet you get to own it, on the downside, you get to stress out about it more as it's YOURS.

Sorry for going O/T Jnam, and not a prob for the help. Good luck!

mcdohl

Not sure what your dealer is doing but he is robbing you if you have a credit score above 720 which is required for tier 1 leasing pricing. If you have bad credit that is another story and the price you will get will vary greatly. I used the numbers provided on this forum for MB tier 1 credit with a 12k miles per year lease for 48 months, I also assumed no discount off of MSRP, and if you are paying full MSRP on that car you are getting ripped off as you can get $2-3k off of MSRP easy today. Also I assumed from the $8900 that $2400 was going to be used for 1st month lease payment, registration and bank fee and only $5500 was a cap reduction and I come out to a payment of $888.87 + tax. If you were able to get say a $3k discount the payment would be about $60 per month cheaper. And depending on your registration fee's in your state is they are lower than CA which are the ones I used then the cap reduction would be more, figure for every $1k +/- you will add or subtract $20 more or less.

m3422c

In November I leased a 2010 E550 4Matic with all otions excl entertainment system. I think list was ~74k. 39 mo lease, $0 down, 1200/mo incl NY sales tax You should be able to do similar numbers. Try American Express auto purchase program - you should be able to buy the car at or below dealer invoice.

mcdohl

The OP is getting a car that is about $8k cheaper than your, and is also putting down $9k in drive off too. His car should lease much cheaper than your because of those 2 factors. That is a difference of $17k

infantry

but his is a 4 matic with more options^^^

Jim Brady

Mine was a $81k car with 5k drive off and 1050@ mo for 39mos. Problem is that the E550 allocation is going to Russia and China where MB can make more $. The more limited availability drives the price up if you have to have it.

outie

I suggest you visit this place first:
http://townhall-talk.edmunds.com/dir...index=.ef9dd79

It shows you what people are getting and what price they are paying. It has much more information than this site.

You can learn more about leases, including money factor, residuals, etc. The absolute most important factor is the negotiated price of the vehicle even when you lease. The E class is selling for under invoice these days. I have read people getting $5k-$6k off MSRP which is ~2k off invoice.

Good luck and make sure you do your research!