2014 E 350 lease
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Joined: Mar 2014
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E350 2014
2014 E 350 lease
Hi Guys,
Leased an E350 in Feb 2014.Wondering if any of you folks have had any experiences or comments to share about my lease/MF rate:
3 years/12,000 miles for 2014 E350
Final Capitalized Price: $53,100 includes Acquisition Fee[$795] and maintenance for 3 years, plus Premium 1 Package, Lane tracking, Rear Deck Spoiler, Comfort Box, 3 Spoke Sport Steering Wheel, Keyless-Go Hands Free Access, 18" AMG Wheels, Lane Tracking Pkg: Blind Spot, Freight Charges.
Paid $2500 Down. Monthly Lease Payment is $704.
Now regarding the **Money Factor**. With my excellent Credit score above 810, the dealership states that since I am considered Tier1, I am getting the best interest rate 3.95 APR. However, In the lease papers, I noticed that they have applied the MF rate of 0.00265 and according to them, this MF rate is pretty much fixed and non negotiable as it is set by Mercedes Leasing/Financial services and they have no control over it. I believed them and leased the car. Now to confirm the effective APR they used, I multiplied this MF rate of 0.00265x2400 and it arrived to an APR of 6.360% and not 3.95% that I was initially promised??
I have already leased the car. I did check some reviews posted by other subscribers on Edmunds forums and MB Forums for e350 and found out that the Money Factor rate is actually lower than what I was offered and could have been negotiated?? Any opinions here friends. I am confused here, as the APR that I was shown in the initial estimation does not match up with the MF rate in the final lease papers. I had very specifically asked the dealer about this MF Rate before signing the lease and the dealership states that this is fixed by MB Leasing company.The dealership says that I can call up Mercedes Leasing directly and ask them about the Money Factor, But they simply cannot lower them. I have already leased the car now.
I would appreciate any inputs in this.
Cheers!!
Veerman
Leased an E350 in Feb 2014.Wondering if any of you folks have had any experiences or comments to share about my lease/MF rate:
3 years/12,000 miles for 2014 E350
Final Capitalized Price: $53,100 includes Acquisition Fee[$795] and maintenance for 3 years, plus Premium 1 Package, Lane tracking, Rear Deck Spoiler, Comfort Box, 3 Spoke Sport Steering Wheel, Keyless-Go Hands Free Access, 18" AMG Wheels, Lane Tracking Pkg: Blind Spot, Freight Charges.
Paid $2500 Down. Monthly Lease Payment is $704.
Now regarding the **Money Factor**. With my excellent Credit score above 810, the dealership states that since I am considered Tier1, I am getting the best interest rate 3.95 APR. However, In the lease papers, I noticed that they have applied the MF rate of 0.00265 and according to them, this MF rate is pretty much fixed and non negotiable as it is set by Mercedes Leasing/Financial services and they have no control over it. I believed them and leased the car. Now to confirm the effective APR they used, I multiplied this MF rate of 0.00265x2400 and it arrived to an APR of 6.360% and not 3.95% that I was initially promised??
I have already leased the car. I did check some reviews posted by other subscribers on Edmunds forums and MB Forums for e350 and found out that the Money Factor rate is actually lower than what I was offered and could have been negotiated?? Any opinions here friends. I am confused here, as the APR that I was shown in the initial estimation does not match up with the MF rate in the final lease papers. I had very specifically asked the dealer about this MF Rate before signing the lease and the dealership states that this is fixed by MB Leasing company.The dealership says that I can call up Mercedes Leasing directly and ask them about the Money Factor, But they simply cannot lower them. I have already leased the car now.I would appreciate any inputs in this.
Cheers!!
Veerman
Super Member
Joined: Feb 2012
Posts: 685
Likes: 12
2012 w221
for the month of Feb, it should have been 0.00149 (with auto pay) if they were not marking it up. Looks like they took you to the cleaners on the MF.
Last edited by T.H.Carrera; Mar 1, 2014 at 02:18 PM.
Member
Joined: Nov 2001
Posts: 224
Likes: 0
From: New Jersey USA
2014 E350 4Matic/2011 E350 4matic / 2003 E500 /2000 CLK 430
that is very high.
I am paying 589.00 for my 2014 4matic sport, which includes NJ sales tax for a 27 month lease with 12K miles. Sticker was 62.5 and Capitalized was 52K (got 10K off with Dec event) My drive off cost first month payment and License fees all in about 1K at inception.
Again, to the OP who said what was the list price, that is the biggest part. did you get a good deal on the price of the car.
I am paying 589.00 for my 2014 4matic sport, which includes NJ sales tax for a 27 month lease with 12K miles. Sticker was 62.5 and Capitalized was 52K (got 10K off with Dec event) My drive off cost first month payment and License fees all in about 1K at inception.
Again, to the OP who said what was the list price, that is the biggest part. did you get a good deal on the price of the car.
