2012 E550 lease
Super Member
Joined: Oct 2008
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From: Saskatchewan
1969 280S, 1991 300E
The discount will be the same, whether you're leasing, financing, or paying cash.
Are you asking what a good payment is? If so....
What options does the car have that you're looking at? How many miles/kms year? Do you have a trade? Down payment?
If you're in Canada, there's a $2200 4Matic 4All promotion ($1000 of it is dealer participation).
Are you asking what a good payment is? If so....
What options does the car have that you're looking at? How many miles/kms year? Do you have a trade? Down payment?
If you're in Canada, there's a $2200 4Matic 4All promotion ($1000 of it is dealer participation).
Thread Starter
Junior Member
Joined: Dec 2009
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MB hopeful
Yes, I'm asking about the monthly payments. The residual doesn't matter to me since I won't purchase at the end of the lease. 10k miles, no trade, down payment up to 5k, P2 package + others. MSRP around 73,000.
Thanks
Thanks
MBWorld Fanatic!
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From: Toronto
MY17 E43 Matte Selenite/Macchiato Beige, MY16 GLE350d Tenorite/Crystal Grey, MY17 B250
Also, as the "cashking", you should probably save your 5k downpayment and toss it into something that will net you a better return that the moderate amount of interest expense you'll save on the lease. I imagine you can lease through MBF for under 4%...
Last edited by YYZ-E55; Feb 13, 2012 at 02:18 PM.
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From: Chicago, IL
2011 E550 4Matic, 2002 M3 Vert
DO NOT put a penny down on a lease. Serves no purpose and will be gone if the car is wrecked.
Use this link as a guide for rates: http://www.ridewithg.com/index.php/2...february-2012/
A dealer will frequently try to jack this rate up on you without saying a word. Heck, I've had a dealer tell me there is no such thing as interest on a lease!
Use this link as a guide for rates: http://www.ridewithg.com/index.php/2...february-2012/
A dealer will frequently try to jack this rate up on you without saying a word. Heck, I've had a dealer tell me there is no such thing as interest on a lease!
Super Member
Joined: Oct 2008
Posts: 803
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From: Saskatchewan
1969 280S, 1991 300E
DO NOT put a penny down on a lease. Serves no purpose and will be gone if the car is wrecked.
Use this link as a guide for rates: http://www.ridewithg.com/index.php/2...february-2012/
A dealer will frequently try to jack this rate up on you without saying a word. Heck, I've had a dealer tell me there is no such thing as interest on a lease!
Use this link as a guide for rates: http://www.ridewithg.com/index.php/2...february-2012/
A dealer will frequently try to jack this rate up on you without saying a word. Heck, I've had a dealer tell me there is no such thing as interest on a lease!
2. Why does a down payment serve no purpose? It drops your monthly payment. Also, for people who have non-stellar credit, it may be a requirement in order to approve the lease.
2. A Mercedes-Benz dealer WILL NOT try to jack the interest rate up on a lease. It serves them no purpose, so why would they? MB Financial only pays a $100 reserve on contracts to the dealer, so there's no advantage to raising your rate. Dealing with regular bank financing is a different story. Dealer reserves are based on the interest you charge the customer.
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From: San Francisco, CA / Middlebury, CT
600 SWB
I understand that you can get a 30 month lease rate for 33 months through MBFS' value added program. I rad that a 30-month, 15k mile residual on the 2012 E550 Sedan is 58%. A 10K mile lease should add another 3% points.
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Super Member
Joined: Oct 2008
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From: Saskatchewan
1969 280S, 1991 300E
Sorry Cashking, i can't really answer your original Q.
In Canada, we have a 3.9% interest rate for 36 or 39 months. Residual is 52% on an 18000km/yr lease.
Interest drops to 3.4% under the loyalty program.
A good guide for leases is generally for every $1000 discount or down payment, your payment will drop by about $30/month.
In Canada, we have a 3.9% interest rate for 36 or 39 months. Residual is 52% on an 18000km/yr lease.
Interest drops to 3.4% under the loyalty program.
A good guide for leases is generally for every $1000 discount or down payment, your payment will drop by about $30/month.
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Joined: Oct 2007
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2015 C204; 2015 X204
This was interesting to me, as I was under the (mis?) impression that the gap insurance would cover you in the event of a total loss for a vehicle with a lease down payment. Is this not the case? Do they just take the amount owed under the lease AFTER the down payment was subtracted and pay any gap between that amount and the market value of the car at time of loss?
What about single pay leases?
What about MSD situations (multiple security deposits)? Are these at risk in the event of a total loss?
What about single pay leases?
What about MSD situations (multiple security deposits)? Are these at risk in the event of a total loss?
Out Of Control!!
Joined: Jun 2008
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From: Earth
Porsche Macan S SportDesign / Ex M-B's: 11 & 10 & 06 E350's, 02 S500
One thing people always forget in terms of downpayment is that especially in areas with high Taxes, putting down a nice chunk will actually save you money in the long run, as you're cutting down your Taxes. I remember when I got my car, I was getting examples of my *Entire amount paid through the Lease term*, and by simply putting several K down, I lowered my entire out of pocket during the term by about $600, or roughly one months payment of the car.
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2015 C204; 2015 X204
Got out my lease contract, and by my read, you would indeed lose a down payment if you totaled the car. Single pay leases do provide for a refund according to the contract. Security deposits also appear to be refundable in the event of a total loss. I may have answered my own questions....
Out Of Control!!
Joined: Jun 2008
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From: Earth
Porsche Macan S SportDesign / Ex M-B's: 11 & 10 & 06 E350's, 02 S500
So I take it you lost your downpayment? The way it basically works is if you get out of your Lease, you have to pay the difference between the amount owed on the car and what they're giving you for the car, or hopefully have enough equity in the car. Still, the downpayment ads to your equity in the car, so if you get out of a Lease, in the end you're still gonna either have to "lose" your downpayment, or come up with that cash and pay out.
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Joined: Oct 2007
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2015 C204; 2015 X204
Never totaled a car personally. Also haven't ever made a down payment on one, but your tax logic point was interesting - as long as you weren't risking the down payment if you totaled the car a week later. There's no equity in a lease, and I was referring to a total loss, rather than an early termination. The way I understand the contract, if you lease a car and agree to a deal that requires 15,000 in total payments, then made a down payment of 3,000, this would reduce the amount payable under the lease to 12,000. The gap waiver in the contract promises to waive the difference in the amount realized in the total loss settlement and the 'early termination liability' - whatever this is, need to look that up next relative to any down payments.
**Cashking, sorry for the mild highjack of your thread - I would like to know the price of the car they are offering you, what incentives you are eligible for, and the money factor and residual you are being offered. Basically, I would be looking for a car at or below 'invoice', then taking any incentives off of that price - most of us are several thousand under invoice by the time you do that. The rest of the calculations are straightforward, as long as they are not artificially raising any of them on you.
**Cashking, sorry for the mild highjack of your thread - I would like to know the price of the car they are offering you, what incentives you are eligible for, and the money factor and residual you are being offered. Basically, I would be looking for a car at or below 'invoice', then taking any incentives off of that price - most of us are several thousand under invoice by the time you do that. The rest of the calculations are straightforward, as long as they are not artificially raising any of them on you.
Last edited by Blaster; Feb 13, 2012 at 07:51 PM. Reason: update post
Thread Starter
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MB hopeful
Np Blaster. All good info from everyone. Seems like all the good deals are on E350's so I was hoping someone could help me with the E550. I'd like it well equipped. So it would be in the low to mid 70k. I am not familiar with any incentives and just started shopping.
Member
Joined: Sep 2006
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From: Clear Lake Shores, Texas
2026 AMG CLE 53, 2026 BMW X5, 1972 Corvette
I think supply and demand are a factor with the 550's, at least in the Houston, Texas area. When I bought mine a month ago there were 3 in Houston, all at the same dealer. Now there are none, and only a few in the whole state. I'm not real proud of what I had to pay for mine, but it was exactly what I was looking for and the car is worth every dollar I paid for it.
Good luck with the search.
Good luck with the search.
Member
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SL 500
I just signed a deal with a local dealer (Washington DC) for a 550 cab - I used the COSTCO buying service and got $6500 off an $80K (added some Designo options) MSRP. If you belong to USAA the savings is a little better.
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From: Rancho Santa Margarita, CA
C250,GLK350
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Tesla Model S P100D
I think supply and demand are a factor with the 550's, at least in the Houston, Texas area. When I bought mine a month ago there were 3 in Houston, all at the same dealer. Now there are none, and only a few in the whole state. I'm not real proud of what I had to pay for mine, but it was exactly what I was looking for and the car is worth every dollar I paid for it.
Good luck with the search.
Good luck with the search.
