I work for a Mercedes Dealer in Finance
 

If anyone ever has any questions I am here to help answer them. I am not here to sell you anything, in fact I wont sell anything on here. But if you have any Mercedes Benz finance related questions I am here to help.

-Mercedes Finance Guy

PS... I just took delivery of my first Mercedes Benz! =) I am very happy!

How long can one extend a lease? I have a PO number as well.

Great first question! As long as you have an order on file with a dealership you can extend up to 3 months. However, be aware, you are not adding three months worth of miles. So any miledge over your initial contract agreement you will be responsible for the penalty.

I hope this helps.

That was not my experience. My W213 order got delayed and the lease payments on my W212 were extended AND the mileage was increased for the months involved. Ultimately, I extended for 9 months due to the non-delivery of one car which got stuck at the port in Germany and needed to have an engine rebuild.

Fleet
 

Hi - qq since you work at MB finance. i work for corporation and through my employer im eligible for fleet discount (1500 in case of E).
i spoke to 4 dealers and they all said i cannot combine fleet with dealer incentives (like spring sale and dealer incentive is more than fleet). so whats the point of fleet. are they accurate when they said its not combinable.
just surprised how 4 different dealers across 3 different states say the same thing

“Fleet incentives cannot be used in conjunction with Dealer Employee Purchase Program (DEPP), Mercedes Vehicle Plan (MVP), Master Lease Program (MLP), Diplomat, European Delivery, Courtesy Vehicle Program (CVP), Special Demos, Competitor Conquest Program, other Fleet Programs (Executive Allowance Bonus (EAB) or Fleet Employee Program (FEP)), or non-U.S. Specification vehicles.”

https://www.mbusa.com/mercedes/fleet...am_information
1-866-628-7232, fleetoperations@mbusa.com

One thing I have learned about MB is that they will bend most rules when the circumstances demand it. While the 3 month "rule" is there... There are always circumstances that will allow for exception. I'm glad to know that they took care of you!

yes that is the case. Usually the fleet pricing is usually a better deal than most customer facing incentives. But it is nice that you have a choice to take the one that is better for you.

In the case of an E class most dealers should be at around at 8-10% discount plus any incentives. Just make sure that your pricing is in line with that!

I hope this helps!

Kind of a long question, and would love if you could help me out!

Basically I'm 23 years old and just started to build my credit last year. I have a couple of credit cards and about a years worth of credit "history". I wanted to trade in my E class this year, but decided to hold off until next year so I can establish more credit history, so instead I bought a fiat and financed it so more history could be established. I plan to pay the fiat off in a year and a half so the loan will be off my credit, and want to finance a new W213. So my question is will a year and a half of car financing history be enough to finance a W213 at a ok rate, or should I hold off for longer than a year and a half?

My second question is, out of the 3 credit institutions, which one is used to determine rates, or is it all 3?

Sorry for the long post, but I would love to get some insight! Thanks!

Hi there. Also a fabulous question! Thank you for asking it.

So I am going to work backwards on this one. MBFS (Mercedes-Benz Financial Services) uses Trans Union reports to determine credit acceptance. However other banks will use the other bureaus. So keep them all clean!

When a lender looks at someones credit for approval. They look at a many factors but I can keep it simple.
1. ADVANCE
2. DEBT LOAD
3. HISTORY
4. YOU (Ability to pay)
Almost in that order.
1) How much are you trying to borrow relative to the collateral. The more cash down or equity that you have in your new deal will greatly determine the risk level of the loan. i.e. if you are putting down 50% on your deal then if you fail to pay, the bank will win because of the equity position you have put them in. ON the other side, if you have a trade in that you are upside down in and are trying to finance 140% of the value of the car (invoice) then the bank will consider you to be far higher of a risk. Make sense?

2) Your own Debt load. Your "score" is mostly derived from your credit that you have available. If you are using more than 50% of your credit cards you are seen as a huge risk to the lenders. If your total outgoing payments are higher than 60% of your income then you are a huge risk to the lender. They will increase the rate to compensate.

3)History is very important. This is one thing that young people struggle most with. When it comes to an auto loan/lease the bank does not want to see anyone go from a Honda Civic loan to a Mercedes GT loan. In your case going from a FIAT to a P3 heads up 3d sound W213 E300 for 74000.00 might be a hard sale for the finance manager to make to MBFS. But, that being said.... I have done it. But it was usually done due to a provable job income increase or validation of liquidity of someones accounts. Cash down etc. Anything I could do to lower the risk in the banks eyes.

4) You... yep it all boils down to you. Your job, job type, who you are, if you are nice (Believe it or not this plays a huge part. I know personally that I have worked VERY VERY HARD for nice people. I will also admit that I have spent as little time as possible for ones that are totally rude or demanding) So be NICE!!! When you fill out your app, do it carefully. Take your time WRITE NEATLY. BE HONEST! Remember the finance guy needs to paint a good picture of you to the lender. ASK TO SPEAK WITH HIM/HER PRIOR TO SUBMITTAL. Make sure you tell them about how long you have been doing what you are doing, even if it is with different companies. Be honest and thorough with anything that is bad. Trust me with MBFS a story will go a long way.

Which leads me to the last part.... MBFS... They are one of the most amazing captive lenders I have ever EVER WORKED WITH in 22 years of doing this they are the first bank that ABSOLUTELY does NOT use the credit score to determine the tier. They truly want to support the dealers and help them to get the approvals they need to sell cars. So that being said, the fact that you are trying to do the right thing will go a long way.
MBFS will want to see that you can pay for the new car. They will want to see that the payment does not exceed 12-15% of your monthly income. They will want to see that they have some equity in the deal. They will want to see that you have not been pursuing large amount of credit prior to getting your new car.

Here are my suggestions to increase your odds of approval.
Cash down
Mitigate any negative equity from your trade
LEASE LEASE LEASE (MBFS will almost always give higher tiers on leases)
Keep your nose clean... =) NO LATE PAYMENTS
keep it real.... DONT GO LOOKING TO PURCHASE AN E43 IF YOUR LAST CAR WAS A FIAT. =) If you are going to go E class then keep it around 50K or PUT UP THE CASH TO KEEP THE AMOUNT FINANCED/Total Adjusted Cap cost AROUND 50K.

Good luck!!!! I hope this helps!

If you have any other questions send me a message and I can give you my cell phone number to discuss!
MB Finance Guy!

PM on the way!

Hey Mercedes finance guy!

are you aware of the issue of a strange engine noise coming exclusively from the new E400 coupe engines? I'm told Mercedes are working on a fix, mine has it.

Regards

We don't have the E400 W213 here yet! I will let you know once we do!

ok thanks for the reply anyway!

I'm actually considering purchasing an E43. I've talked to a few dealers, and apparently inventory with the P03 Package on the west coast is virtually empty. Given that i'm likely to be ordering the vehicle (perhaps even considering European delivery), is it fair to say that beyond a fleet discount price, i'm looking at little to no incentive given its rare form?

Also, would lease financing still be an option on ordering?
Thx

If this one works for you please pm. Thanks.


E43W4 $72,400
799 designo Diamond White Metallic $1,515
861 AMG Black Nappa Leather
L6I AMG Performance Steering Wheel $500
P03 P03 Premium 3 Package: Parking Pilot, NFC Wireless Charging, $7,300
RVR 20" AMG Multi-Spoke Wheels Black $750
R01 High-Performance Summer Tires
U17 Black Seat Belts
068 Wheel Locking Bolts $150
070 Chrome Door Handle Inserts $100
15A LED Logo Projectors $200
401 Heated and Ventilated Front Seats $450
413 Power Tilt / Sliding Panorama Sunroof $1,090
51U Black Headliner
521 521 AMG Night Package: High-Gloss Black: Front Splitter, Front Apron $650
736 Natural Grain Black Ash Wood Trim
773 773 AMG Exterior Carbon Fiber Package: Carbon Fiber: Mirror Covers, $1,950
811 Burmester® High-End 3D Surround Sound System $4,550

SUBTOTAL $91,605
DESTINATION & DELIVERY $925
TOTAL $92,530

Thank you for your offer to answrer finance related questions. I am awaiting the arrival of an E400 coupe. The delivery date will be more than 60 days past the turn in of a prior Mercedes lease, perhaps by a month. Is there any ability to extend the 60 day period in which leasing a new Mercedes will waive the turn in fee for the prior lease?

Popular question. As long as you have a Valid PO number you can extend... :)

Thank you!

Spoke with Mercedes Financial. They told me, not possible unfortunatley.

Call your dealer that you have the order placed with. They can assist you.

Dealer told me they do not believe it is possible. But the would try.

Send me a PM with your order number and the dealer you are buying your car from. I will see if I can help.

Great to have you here, I've learned some new info already!

My question: When will full 2018 pricing for the E be released??

Ive extended for the past 6 months and on going. Its very possible, done it with multiple cars now.

i had a late November turn in that was extended with no problem to the end of February. MBFS was a pleasure to deal with in getting this done. My E300 had to be re-ordered due to a option mix-up by the dealer.

Mileage was extended also, even though I was well under my original allocation.

What are the dis/advantages of buying an off-lease MB?

It is no different than buying any other used car. Some of my neighbors that lease for 12 or 24 months do not maintain their cars at all. No oil changes, nothing. They run them into the ground and turn them in.

Great details in your answer here. Good to know about TransUnion as well. Really appreciate the thoroughness in your reply :)

What is "Competitor Conquest Program?"

Cash incentive towards purchasing/leasing select new Mercedes-Benz models simply for owning a particular competing luxury brand vehicle. There is no need to trade in the competing make vehicle you just have to prove ownership by presenting a title, registration card or proof of insurance to get the discount. I believe eligible competing brands are BMW, Audi, Lexus, Porsche, Jaguar, Range Rover/Land Rover, Acura, Infiniti, Cadillac, Lincoln or Volvo. Note, offer is not always available.

As always, you are a wealth of information. Thank you!:bow:

Thanks for the offer to answer questions...

What is the sweet-spot for a '17 C43 Sedan lease? I'm looking for 36mos and 7.5k or 10k miles with a minimal amount of $$ down - preferable $0 down.

interesting, how often do you guys approve people with bad or troubled credit?

Often.... now by bad I don't mean 400 score bad... but we have seen mid 500 approved in the right car with the right advance. (30-40% down or trade equity)

As much as I would like to answer this question on here, I am not here to sell cars or undercut other dealers.

I can say that MB leases are usually geared towards 36 months... that is the "sweet spot" in relation to the best residual value.

Any idea when final 2018 pricing will be out?

CLA GLA are out already. The others should be coming soon according to what I can see in Netstar.

But as the FI guy.... I don't have all the cool accesses! :)

wow, would have never guessed they would approve low credit scores like that

Again, it is about the deal. Some people can have bad scores but great job time great residence. With large down payments or equity down they can get approved.

Now I am not saying it will be tier A1-2, but tier 3 or 4 for sure.

Even people that dont pay their bills well can drive the Best or Nothing!

Asked you a couple days ago about getting lease tyurn in fee waived based on ordered car. Have spoken with Mercedes three times at number on lease end letter from MBFS. They have told us they have called dealer and are waiting for dealer to call them back with the order number. Dealer says they have not called him, and he wont call them without getting a call from them. I phoned same number we have spoken to three times, for a fourth time, this time they claimed they were the wrong department and I need to phone marketing, and gave a different number. Any thoughts? Only have a couple days before 60 day period ends to give them order number. Thanks.

What are the tier FICO score ranges?

business lease question
 

Hello- MB Finance guy!
I have a question on business lease through MBFS...
I have a new entity less than a year old...I like to lease a new E43 AMG under my business name..If approved under my business does MBFS reports to my personal credit report as well? Would I have to be the guarantor on the loan? business is new and do not have revenues yet.

Secondly, I have personal car lease through Ally and spoke with them they do business leases under third party guarantee but do not report on personal credit...Does MB dealers work with Ally bank and would I be able to request to use Ally?

Thanks for your response and information in advance

MAJ

Regarding waiver of lease turn-in fee. Good luck. MBFS wouldn't waive mine because I was purchasing a new E300 and financed it through my credit union and not MBFS. The higher interest rate that MBFS was going to charge me would have exceeded the 2.15% + waiver fee that I got through the CU.

I you finance through MBFS they'll waive the fee.

Gave MBFS the order number and vin. 2018 E400 coupe. Has arrived at port but not yet released. They are verifying info and then will be sendimg letter confirming waiver of turn in fee.

Another great question!

As far as the lease turn in fee. It is only waived if going back through MBFS (Which I am sure you will)

Now the question about the PG (Personal Guarantor) lease/loan. This is a state by state ruling as to if it reports to the PG's credit. Here in AZ it does.
You can either have your dealer call to confirm or if you want to send me a PM with your state information I can call MBFS for you and find out.

I will say that banks look at PG loans/leases differently when considering additional credit to you. So I truly would not see it as something that would keep you from acquiring additional loans/leases/credit. Unless in your personal situation you have a large amount of debt.

Keep in mind that if your company grosses more than 3 million annually you can qualify for a business only lease/loan, meaning that you would not have to have a PG. You would just need to produce Tax Certified P&L's for three years to MBFS for consideration.

I hope this helps!

STRONG RATE MY FRIEND! WOW! That's impressive!

See my previous post on this... MBFS DOES NOT use score to determine rate solely.

But a good rule of thumb would be:

760+ A1
710-759 tier1
675-709 tier 2
625-674 tier 3
580-624 tier 4
<579 R (But possible reject override if you have the right cash down/situation)

I hope this helps!!!!

What information can I get with a MB PO number? I want to be sure my dealer has everything right.

a PO number is an order number. What information do you need? Your dealer should be able to help you with any and all of your needs.

Should have signed with MBFS then refinanced..

Thanks, my dealer emailed me the order details. It is a good thing because there were a couple of omissions and deletions needed before the order is locked down in a few days.

Good thing! Congratulations! Be sure to post pictures when you get it!

My E400 is sitting at the port waiting to be released for shipment to the dealer. Any ideas or info as to when E400s will be released from port to dealers?
Thanks!

Ok great Thanks for the response.

My state is VA

Also would I be able to lease MB with Ally financial?

Not sure how to send a PM

You can lease with outside banks.... however the programs are usually no where near as good as MBFS.... we NEVER use outside banks.

Was successful in having lease end fee waived. Provided MBFS with purchase order number.
Received letter from MBFS that all end of lease obligations have been satisfied. Nothing due. And account closed. Now just have to wait for car to arrive.

Nice!!!!!!! Good job!

Great information!!

Does Mercedes currently have the conquest bonus for other car makes?

Balloon Financing
 

Hope you are enjoying your first MERC! What are the available terms for balloon financing? Can it be used to buy at end of lease as well? Do dealerships have the ability to negotiate end of lease buyouts?

In Arizona we do not support balloon financing... so I wouldn’t be able to answer that question.

As far as lease end pricing, the short answer no. The manufacture does not discount the pricing with us to the best of my knowledge.

However I really never encourage the purchase of a lease. In my honest opinion not the best use of your money.

Mercedesfinance,

Does AutoPay reduce the MF by 0.00010 or 0.00008? Thanks.

It is a 10 bp reduction in the rate.

Mercedesfinance,

Thanks for your response re: Autopay.

What is the per mile charge to buy extra miles upfront during the lease signing? And after lease signing? $0.25 or $0.20? Thanks again.

Upfront .20 at end of lease .25 for all cars except GT.

Thanks Mercedesfinance,

How about during the lease term prior to lease termination? Thanks.

I do not believe that Mercedes Benz does a "mid-term mileage adjustment" like other manufactures do.

I may be wrong.... Believe it or not I dont know it all! =) I will call MBFS tomorrow and get an answer. If it is different I will update here.

MF, thanks!

Hey! Thanks for all the info. I was wondering if you could let me know how this lease looks to you?

total sticker price with add ons - 57,525.00
gross capital cost for lease - 48,374.83
money factor - 0.0010698662894 ( 2.57%)
amount due at lease signing $4,495.00 (2156.35 went to capitalized cost reduction)


residual value - 35025.00

base pymnt - 459.74
with taxes - payments $499.97

36months - 10k miles - total monthly pymnt coming to $17,998.82

As a point of reference only...I am picking up a 2017 E300 4Matic next week:

MSRP with add ons= $62,925 (includes 2 year PPM)

MF= 0.00012 (0.29% with Autopay and 10 MSDs)
Due at signing= $2,877 (includes $600 CCR and 1st months rent)

36 months/10K miles per year

Monthly payment= $399.99 (includes tax of 7.75%)
Base payment before taxes= $371.22

Total payments less MSDs= $16,289 (includes all upfront costs)
Total monthly payments= $14,400 (includes 1st month payment as part of upfront costs/ $14,000 without 1st payment)

:eek:


I guess lesson learned to dig deeper in research for my next lease

just got the deal I presented signed last Friday!

Thanks for the info!.

Here is my only advice to you. I think your deal looks great. My question to you would be the following...

The 10 Security deposits only reduce your MF by .00070 which is the equivalent to 1.68% without those your money factor should be 1.96%.

Now I would assume that if you have the cash to put down the extra security deposits that you most likely invest your cash. If you are returning more than 1.68% on those investments (Which if you are not you should fire your money guy) Then I would think it would be better for you overall to pay a higher payment and put only the fees down. I do not think that putting cash into a depreciating asset is the best thing you can do with your money.

The whole purpose of a lease is to mitigate any potential losses that you might have and only pay for the portion of the car that you use.

Honestly the only time that I see MSD leases as a good idea is when you are purchasing a car that only has Standard rates on it i.e. high end AMG cars. But again even then I usually try and talk people out of doing MSD leases because they are better with their money then MBFS would ever be.

So IMHO I would say skip the MSD lease. Just make the higher payment and invest your cash elsewhere.

Remember you are not investing in your future... You are buying a car!

Send me a PM with your number and I can call you and answer any other questions that you might have about what I am talking about above.

MF,

With the 10 MSDs and AutoPay I was told that the Money Factor is reduced to 0.00012 (=0.00092 - 0.00070 - 0.00010) or approximately 0.29%. We calculated that total payments were reduced by over $2000 (all in rent financing charges). So with the $5,000 (10 MSDs) I save $2000 over the term of the lease plus I get back the $5,000 at the end of the lease. I may be missing something(?). Please advise...thanks.

Monthly payments
- with MSDs = $399.99
- without MSDs = $459.37

The delta is $69 +/- per month over 36 months.

The MSDs are not CCR money but a refundable deposit. I am not sure I can get a 40% 3-year return on $5000 by investing it in the bank or another asset.

With MBFS you save .00007 per security deposit. If you are doing 10 security deposits then you are saving .00070 off the cost of money. When you convert that .00070 into an interest rate that means you are saving 1.68 % by putting down that cash. (.00070 X 2400= 1.68%)

So you lose the use of that money for 36 months only to save 1.68%. My argument was that you would most likely earn more than 1.68% on that money if you apply it somewhere else vs putting it into the lease and losing the use of that money for the term of the lease.

Just my $.02
Not trying to be disrespectful by telling you what to do with your money.

Interesting discussion on the msd. I have started to consider whether I would want to do that when my E400 coupe arrives. The math of saving $2,000 on $5,000 is how I have looked at msds and why they have made sense to me.

I may be wrong, but to say getting a rate higher than 1.68 on the $5,000 means it is better to invest the 5,000 seems wrong to me.

The 1.68% rate savings with the msd does not apply to the $5,000, it applys to the lease. Thus the 1.68% savings is not just 1.68% of the 5,000. I think that is why the 1.68% reduction saving $2,000 over the course of the lease, results in a 40% return on the $5,000.

MF, with all due respect I am not sure you are calculating the savings correctly. Try running a hypothetical lease using 10 MSDs and one without MSDs. The calculus will show that the savings is approximately $50-60 using 10 MSDs. In the case of the car I am securing that comes to over $2000 in total payment savings. On my C450 lease I saved $2487 over the 48 month period ($445.48 vs $500.00 per month). I recently transferred that lease and got my $5000 in MSDs back.

The return is actually closer to 12.25% per annum (or +/- 40% over the 3 year period when compounded) and not 1.68%. Remember that Money Factors can be only be loosely approximated using the 2400X rule. The true calculation of monthly financing charges equals (Selling Price + Residual) x Money Factor. So not a pure apples to apples comparison.

Hence, the the application of "0.00070 x 2400 = 1.68%" as you calculated as an approximation of the savings is in fact not actual calculation. As you have access to Mercedes lease calculator try running a hypotetical as I mentioned above. The Money Factor is actually reduced to 0.00012 versus 0.00092 -- that's a big difference when you are leasing a $60K plus car.


And as I mentioned earlier, I may be missing completely something but the proof for me is in the monthly payment: $459 versus $399 in the case of the E300 for $5000 in refundable deposits.

Have you ever wanted to crawl into a ball and pretend something didnt just happen..... So much for me being the guru here! LOL..... I stand corrected.

Embarrassed..... But corrected.... You are all correct.... and apparently I am an idiot who likes to argue his idiocy!! LOL

Now.... where is that delete button.

My only saving grace.... I was a cello performance major in college... Not a finance major! =)

This is what a music degree gets you! :smash::wwf::crazy:

MF, no worries. I was was concerned that I was missing something and wanted to correct it before I sign the lease next week. Phew, I was ready to call my sales advisor to change the deal. Thank you.

glad you didnt.... hgahahahahahahahahahaha

Now, what's the answer on the mid-lease purchase of miles...$0.20 or $0.25? =)

I have a call into MBFS to get that answer for you.....

OK!!!!! I HAVE AN ANSWER....

So .... MBFS does allow for a mid term mileage change. It is at $.25/mile. (which is the same as the end of the lease). However they will allow for you to spread that cost over your remaining lease payments.

The call is not automatic however, you must call MB customer care to initiate the purchase of additional miles.

With VCI (where I used to work) They would allow for you to purchase additional miles at a discounted rate, however that total amount would be paid upfront and you cannot spread over your remaining payments.

I hope this helps....

PS... I am 100% sure of this answer. ;)

MF, awesome. Thanks! I may buy a couple thousand miles up front and go with the 7,500 mile a year lease. I only need 8-9K miles per year tops and it reduces my monthly to $379 with only $4500 equivalent to the (the dreaded) 10 MSDs. Thanks.

MF, So I signed the deal I posted on page 3, and I feel a kind of sad that I didn't get the best possible outcome, It wasn't until a few days ago I found this site and found this post!

How bad did I get screwed ? =x

well...nothing I can do now. But in 3 years what can I when the lease will end.
no way of finding out now if buying the car? is beneficial?
Or negotiate a new lease ?

I wish I had read your guys post earlier! my fault !

I think you should be pretty happy with your deal. According to my math the sales price of the car should have been around 49400.00. on a 57000 car that is pretty amazing! That is more than a 10% discount on a Mercedes! At the end of the day... You have a great car. A great payment and dealt with a dealer you trust!

Put this in perspective... On my personal deal I am paying 749/mo on my lease with $2750.00 down. (I did trade in my VW.... that hurt) But I think at 750/mo I am driving a car that I love love love!

Its all relative!

Congratulations on your new car!

MF, I agree with you. A "good deal" is subjective to each situation and individual.

WS, if you felt good about your decision at the time of signing then you have a good deal. I have a S550 lease which I know is more than other S class leases. I pay $1,140 a month and I have heard of leases under a thousand a month. But I wanted a special combination of color, designo interior and options. Hence, I felt I got what I wanted at a price which I was comfortable paying. So...congratulations on your car!

MF,
I am 6 months into a 42 month lease and I would like to lease another Mercedes and return this one. I read what is required if you terminate early, but are the penalties the same if you lease another Mercedes? Thanks

6 months in.... This will most likely be pretty painful with the negative equity. But as far as penalty... There is not a penalty... unless you count a much higher payment as penalty. =)

I really would recommend not trading at this point.

If you want send me a PM I can give you an idea of the amount of negative you might have.
I need your VIN and miles of your car.

curious, what kinda of APR does MBFS give for each tier? Does new and USED car differ?

WTF?. 92K for an E CLASS??

MF,

All else equal, is there a MF difference between A1 and Tier 1 with respect to MBFS?

With respect to Special rates no. In fact... A1-tier 2 are the same. Tier 3-4 RO (reject override) are the same as well.

I hope this helps.

Residual value
 

Many thanks for all the info you've provided. I have one question that hasn't been covered. How does MBFS calculate residual value? Are there other inputs besides original value and term?

Residual
 

how much does the residual of an E43 increase if I get the prepaid services?

PM sent

Great to see you on here helping MB owners

what are the rates range per tier (if you can say)

And are the rates different for new and used/CPO?

Ive only ever leased with MBFS, but I may be buying soon so I kinda want to get an idea of what they may offer

thanks

This may be a dumb question, but is there EVER a reason that you wouldn't get all of your MSDs back? Like if the car was totaled early on in the lease, etc?

Just want to say thanks to MF for all your help and especially your ability to admit when you flubbed something :) Frankly that goes along way in my book....

Mike

Have to say, Thank you MF for taking the time to educate a lot of us or answer any questions.

And kudos to you sir for admitting when your wrong rather than going MIA
ahah :tyson:

Finally...
 

MF,

I finally picked up a 2017 E300 4Matic -- $380 per month. I was able to transfer my (81 year old) mom's C450 AMG lease, which was way too sporty for her, and secure a 2017 E300 4Matic instead. It's a fairly basic W213 with P1, heated steering wheel, Burmester, rear spoiler, and designo Black Flowing Lines wood--$62,075, including 2 year pre-paid maintenance it came to $62,925. I put $643 in CCR and $4500 in refundable security deposits for 36 months and 7500 miles per year.

Monthly rent comes to $379.96 after CT taxes of 7.75% ($352.63 base monthly rent). It was a previous courtesy loaner car at my long-time local MB dealer, where they discounted it by 20.5% for me.

Below is the Monroney and Section 5 of the Rental agreement.

I'll get pics of the actual car once window tinting, Himalaya star center caps and other add ons are completed.

Congrats on the car, how many miles does it have?

Mbracer26, thanks. It had 5926 miles on the odometer. I guess that's one of the motivators for my SA to work on the deal.

One Pay Lease vs Monthly
 

Mbracer 26

Please advise what $ advantage I can expect doing a One Pay 3yr lease vs Monthly Payment Lease.

THANKS

I leased a new E300 rather "maxed out" back in January and am loving it more than I expected (after 6 BMWs)... so much so... that if I had it to do over again I'd spring for an E43. From your experience, if someone like me ordered an '18 E43 would MB let him give back his existing E300 on lease? If it took 3 months to get the E43- I'd be returning a 9 month old car.

I expect the answer is "you have a nice car enjoy it and do something 2 1/2 years from now"... which is fine. But just curious if you have any insight. Thanks in advance...

jsclarke, you can go to MBFS.com and check your account for the buyout amount for your car. I suspect, however, that it will be more than the car is worth on the open market. That said, I can list in on one of the lease trading platforms like LeaseTrader.com or SwapALease.com. I was able to transfer my C450 AMG lease after 1 year without losing all but the the acquisition, title and doc fees. I even got my full $5000 in MSDs back.

What is the money factor, along with residual for a 36 month, 15,000 mile per year lease of a 2018 E400 4matic coupe? I see that MBUSA is now showing the lease specials for the 2018 E400 on the MBUSA web page.

Also, do you have any info on when the E400 will start arriving at dealers? My E400 has been sitting at port since May, waiting to be released for sale.

Thanks!

I would like to know the answer to this too. Is it possible, Mr. Mercedesfinance? Would there be any penalties?

I believe MB Financial would say something like "Of course, we'll be happy to let you trade in your E300 on a new E43. Just pay off the balance of the lease and drop it off at the dealer when you pick up your new car. Have a nice day, your friends at MB Financial."

Surprising that people think MB will take a loss to sell a car. The norm when returning a lease car early is just like a trade you own. The car is appraised and you pay the difference between the appraisal and the pay out on the lease.

I think they used to allow you to trade it in 6 months in advance toward a new lease. Not sure if they still do that.

This was a very informative read. Thanks for sharing!

please ask at work tomorrow , why I cant build a 2018 E on your website? I mean I can build a 17 but you cant order it anymore so why?

Help
 

Can you help me through a deal over the phone if I call you at your dealership on a day your working? I have some specific details I would rather not publicly post. If not I can PM you. Let me know. Pm me details as well if you prefer. Thanks!

Better to pay acquisition fee & prepaid maintenance at lease signing?
 

Is it better to pay acquisition fee and prepaid maintenance fee upfront at lease signing or to add them to adjusted cap cost and capitalize the expense?

if better to capitalize then why?

thank-you

I believe it's best to pay it upfront versus paying interest on it. But it depends on how low your Money Factor is.

Trying to get European Delivery scheduled ASAP for my GLC 343
 

I am working with a tight timeline to try and get my GLC ordered so I can pick it up during an upcoming trip to Deutschland. One of the dealers I'm talking to is asking for a $1000 deposit to request info from the ED people at MB. Is this legit?

I talked to another dealer and he said that since I'll get 7% off MSRP because of ED, there's no wiggle room on price after that. He made it sound like because it is ED, the discounting is standard across all of MB. Surely there must be some negotiating room, right?

One other question. What should I come prepared with to negotiate the lease? Is it worth putting money down?

I wish there were a nonpartisan checklist to go into lease negotiations with MB so we can be on as equal terms as possible... :)

Check some of the other threads in the European delivery forum. I believe in the past discounts have ranged from 9-11%, but I think that depends on the model and the time of year. I think there's one guy that gets mentioned a lot and lots of people go through him even though he's nowhere close to their location. So it's hard to say if it's that dealer that doesn't want to discount anything or if it's a hot model and there's no discounts.

I suggest you talk to Herbert Haemmer at Mercedes-Benz of Escondido, who knows more about European delivery than anyone else I've found. He gave us a fair price on the E400 wagon we recently purchased, which was more attractive than the 7% ED discount.

To Mercedesfinance...

What are the best rates MB Financial is currently offered on CPO C Class vehicles? I'm looking into financing the purchase of a pre-owned '15-'17 C63(S) sedan that was either used for as a demo or service loaner in the next month or so...

Thanks!

My advice is to get one this month. Here is the program:


2.99% up to 72 months for 14/15/16 C-class

2 years of free service ( for an AMG is a huge savings)

2 months payments by MB up to $850

Thanks for the info...

Regarding the 2 mos. pmts by MB, is that up to $850 per month for 2 months for a total cap of $1,700 or 2 months of pmts for a combined total of and cap of $850?

Total cap..... hi everyone! Sorry I have been missing!

Extended Warranty?
 

Welcome back. I have a 2014 E550 Cab with 29k miles. Not a lease. The 4 year/50k miles warranty will be up in in a few months and I want to get the 3 year, 75k miles extended limited warranty. I understand the price for the Mercedes warranty can vary widely. Can you provide an estimate for me (I assume I'm not required to go back to the dealer I purchased the car from). Thank you.

Check the extended warranty subforum. There's probably about 3-4 vendors mentioned in there all the time. Probably in the 2-3k range.

https://mbworld.org/forums/extended-...cs-thread.html

https://mbworld.org/forums/extended-...-warranty.html

You're a prince. Thank you!

What's the best way to locate retired service loaner cars? It seems like most of the MB dealer sites do not provide this info. I am in the market of leasing a 17 E300 similar to dbtk's and was hoping to find an easier way to locate the inventories rather than hitting up every dealer. thanks.

I typically check one of the used car websites and select "used" only, not "CPO" cars.
Cars.com
Autotrader.com
CarGurus.com
iSeeCars.com

If you have a strong relationship with a dealer, they may allow you to customize an incoming order that is destined for the loaner fleet (like mine does). So when my 2018 arrives, as I built it, it will be placed as an executive demo (or in the past, the loaner fleet) for 90 days, then I will lease it at a very discounted price...

That's an interesting approach but I am sure the car will need to be lightly optioned like any other loaner fleet I assume?

Not in my case...MSRP is $65k :zoom:

That's a great strategy! I may ask my SA to try this approach to get a significant discount on personalized order. Perhaps with the newly redesigned S as my dealership does offer S loaners.

How big of a discount off MSRP do you expect?

I'm not sure if it's a percentage or a fixed amount. I know that MBUSA gives them money to "help" sell loaners/demos. It will be at minimum 10k off MSRP.

I believe it is based on mileage.

Leased car trade in
 

Hi Mercedes Finance Guy,

Hope you are doing great and thanks so much for your help on this forum!!!

I have a question about competitor's leased car trade in when I lease a new car from Mercedes.

I am currently leasing a base VW Jetta 2016(11 months left) and willing to lease a E300 AWD. Do you think will MB finance allow me to trade in my leased car for a new MB leasing? If so, can you please give us any detail process? (FYI, I just used TMV edmunds and got $9800 USD value on my car)

Thanks in advance for your help Finance Guy! :)

p.s.) Please let me know if you need any more information on my current lease!

Canadian discount
 

Hi all,

I'm looking to get an E300 (2018) in Canada. Anyone willing to share what kinds of discounts they got on their cars?

tx

Which FICO Scoring Model does MBFS use?
 

Which FICO scoring models does MBFS use? I've read FICO 9 Auto for Transunion and older scoring models for secondary bureau pulls, but my local dealer either cannot or will not confirm this. Can you shed any light on this? This information would be very helpful to know what kind of deals to expect when considering a new vehicle.

Competitor Conquest Program
 

My mother-in-law just leased an '18 E300 using a single payment car lease from Fletcher Jones. Does anyone know if MBFS does this the "simple way"- of just charging up front the conventional lease payment * months in the lease? Or do they do it such that you'd save half of the interest charges. For those interested- here's a description of the two methods https://www.leaseguide.com/articles/prepaid-lease/

So- which does MBFS use? Thanks

I have an interesting choice that i am looking for opinions on.
Very different but i need to make a decision
A. 2017 $11500 s class demo for $8500 after incentives and various ways to get money off. Sold as a new car

B. Order a new 2018 e300 4 magic list for $72000 the way i built it. Here is my question. What can i reasonably expect to pay for this in a purchase? Is $63000 unreasonable to ask?

I know different scenarios but I am coming out of a TESLA with about 35000 in equity. I fell like in 2 years they both will be hit by $30000 in depreciation. I have to make a decision soon so any opinions are appreciated.
Thanks
Rich

Two different cars. Are you leasing or purchasing? Your finances aside, if leasing I would go with the S550 without hesitation. How many miles are on the demo S? Depending on that answer, and if leasing, with the 2018 facelift 560's out now I might go for another 2500.00 in cap cost reduction on their end.

If you are purchasing, I would go with the E300 for sure. It is a much more (long-term) reliable vehicle overall. For the E cost, on my 2018 E400 coupe, I negotiated the MSRP down from 72,500 to 65,000. Coupes are harder due to less of them being sold. On an E300, at 72k MSRP, I'd shoot for 60k and settle around 62k as they are volume sellers, though as you said, you have a specific list of options that may make that more difficult.

Edit: As I reread your post, and especially if your are rolling the Tesla equity into a purchase, get the S550 and extend the (ELW) warranty full term

300E For 25k Miles Per Year
 

What do you think is the best way to get a 300 E Class if you drive 25k miles per year? It seems like there are a lot of great lease deals for people who drive less than 12k per year, but there must be some strategy that works best for us folks who drive a lot more. What do you suggest?

In your case it would seem the best option, if an E300 is what you would like, is to purchase a CPO car, extend the CPO warranty to max 7 years with unlimited mileage.

This is all really great info! What are the tiers that MBFS uses? And generally speaking, are there guidelines for the credit scores expected or required as a part of those tiers? I know that you take into account way more than credit score, but just wondering.

I just ordered a 2018 E43 AMG and I'm evaluating what tier i will land in when the car arrives in a few months :)

If the special rates are the same, what is the benefit to being rated A1 vs Tier 1 or Tier 2?

I am coming close to the end of my lease and was wondering if I need to return my car to the original dealer i leased it from. I do have MSD on this lease that i want to roll into my next one.

Will I lose this money if i don't go back to my original dealer, and what other incentives can i expect by sticking with them? I of course want the best deal and am not afraid to shop around but I am not sure if I am handcuffed to one dealer.

Thanks

I just purchased my E400 2018 . The finance closing manager wants us to purchase the maintenance package at about $500 per year. Is it worth it? I cannot find any documents about service profile A or B and costs.

I posted in your other thread.

You can buy it anytime up to 80k. Usual A service is around $300 and B is around $500 some places discount that a little. It's probably more worth while when it's near some major maintenance like transmission fluid changes or spark plug changes as those are included so maybe in the 40-60k range. The 3 pack is probably the best bang for the buck as getting it when the 40k is due would also cover the 60k. There may also be some major items at the 80k mark.

Hopefully, I can remember that when the car hits 40 to 60K.

Credit requirements
 

Weird ?that's
 

I have horrible credit right now but it is not in accordance to the law so I have hired a law firm to help me as I pay my bills and work hard. This time next yr my score should be over +720. Can I finance a Mercedes glh or gla w/that score? My heart is set. Back in 2000 i drove a convertible sl500 and have love Mercedes ever since. Thanks in advance!

Hi,

I just purchased E400 with 3yr/10K warranty and 40K maintenance. My dealer only print the warranty and prepaid maintenance to sale contract. If I want to repair or schedule maintenance, do I need to present the sale contract to dealership? Does the Mercedes Benz record in their system?

Credit score
 

Thanks so much for being here. couple questions.

1. In Az the dealers say there is no conquest or really no incentives at all. Will there be anything coming out this fall for the 2019 models? I ordered an E53 AMG Cabriolet delivery expected around Halloween. Can I at least get the conquest incentive (coming from BMW 7 series)?

2. what are the expected money factors (buy rate) and residuals for the car I have on order?

3. What discretion does the dealer have to throw in the maintenance package to sweeten the deal?

Thanks again for your insight.

I have a question...

Im going to give my back my E400 Convertible for an E400 Sedan. Coming out of a 36/45 lease and getting into another 36/45 lease with nothing but 1st month and DMV fees. Current 2016 car has exactly the same MSRP as new 2018 car at $75,400, one is sedan and the other convertible. The lease prices are a solid 15% higher today than they were 3 years ago. Do the convertibles have higher RV's than the sedan counterparts? It has been mentioned that MB is using lower, more realistic RV's now than they were 3 years ago... any truth to that you are aware of? Money is certainly not as cheap now as it was then so MF's would be higher now, yes?

Next question... I have an MBDEAL Control# from a friend who works at corporate and I had one the last time and it was the mother of ALL discounts. As I understand it... this is a 12.25% discount from MSRP and doesn't (shouldn't) deviate dealer to dealer. Residual Values and money factors are set by MB Financial and cannot deviate dealer to dealer, correct? All of this said, the price I would get from dealer A should, for all intent and purpose, be the same as from dealer B for th same vehicle, same delivery date, etc.? If dealer A has the car I want I want on the lot but dealer B would have to secure that car from another dealer, does that impact numbers?

Let me preface your answer with, I'm a loyal, trusting guy and would never call another dealer and try to pit them against each other or anything like that. I would like to think my trust is well placed but without calling another dealer... who really knows??? Any insight you could glean would be wonderful!

I used to work for the company and i still have a friends/acquaintances that I probably help acquire an MB once or every other month. The code is a 12.25% discount off msrp, but the bottom line will vary depending on the dealership, because it still comes down to what they are willing to reduce below that code. I got my e class recently and one dealership quoted over 700 (they had one that I really wanted) but the dealership i have a long term relationship with gave it to me for 515 a month (huge difference I say) and still a 1000 less at signing.

So if a dealership is only giving u the 12.25 and nothing less, i say you still have some room to play with or visit some other ones ;)

So considering its a dealership you have a relationship with, hope they are giving you the best deal possible. Also considering you are getting a E450 (not released/arrived) I dont know how aggressive all dealerships will be with the pricing. At this point the most you can do is shop around and tell them the specs of the car and mention you have a code.

If you happen to purchase it from a different dealership you will have to provide the code to them and of course cancel with your current dealership.

If it was me, Instead of just going to the other dealership, If you get a better quote from somewhere else - i would still see if your current dealership can beat/match the price. This way you still stay loyal and they still make the sell =)

They cant hate you for shopping around, especially when the car isn't even here yet - you have plenty of time to be "bored" and ask around hahaa

Pre Paid Maintenance
 

We purchased a MB GLE 6months ago. Loved the car. But, we now have a growing family- and we traded the car in for a Yukon. We paid 1890.00 in pre paid maintenance- that we never used. We only owned the car 6months. Can I expect ANY pro rated return?

[QUOTE=DJA1212;7540398]We purchased a MB GLE 6months ago. Loved the car. But, we now have a growing family- and we traded the car in for a Yukon. We paid 1890.00 in pre paid maintenance- that we never used. We only owned the car 6months. Can I expect ANY pro rated return?[/QUOTE
I just traded in two three old MB cars for two new E Class and we're getting a prorated refund of the unused portion of the maintenance we paid for. But we had used two of three services. They're refunding the one unused service. Since you didn't have any services, you should get the full amount back. Have you contacted the dealer you purchased the maintenance from?

Finance reply - when I asked if I can expect a prorated refund.


"Most likely because Mercedes Benz only refunds maint when you purchase maint again or if your car is a total loss. Did either one of these occur?



Joseph Anton"

Plaza Mercedes Benz

I guess I'm getting a refund because I did buy another Mercedes. I don't know if in the fine print it says anything like that from when you purchased the maintenance since you bought another brand?

When asked when I should expect my pro rated return for PPM.

"Most likely not because Mercedes Benz only refunds maint when you purchase maint again or if your car is a total loss. Did either one of these occur?"

Based on that, it appears you shouldn't be expecting a refund.

Does anyone know how LTV is calculated by MB Financial? My credit isn't the greatest and so I want to get to 80% LTV as I've heard they'll approve almost anyone at this ratio. Is that true? If so is MSRP used as the value? I'm eligible for a large discount plus I'll put about 10% down and was hoping this would get me to 80% LTV.

Extended Warranty Cost
 

I'm considering a 2016 E250 Blue Tech 4Matic. Could you give me an estimate of dealer cost and retail price for a 1 or 2 year MB extended warranty? Thanks for the help!

Is it realistic to get lease financing with a recent foreclosure (on investment property - not primary residence) with a credit score of 672 after the foreclosure? What are recommended options in this scenario? Down payment, security deposits? Also, if I go to a different MB dealership to shop around, I assume that the credit app at the first dealership will apply. Or would I apply for credit again at the 2nd MB dealership?

The 2nd dealership will run a new credit check and every time a check is run, it runs your credit score a tad lower. Thus the next credit check won't improve over the 1st. It's never advisable to put much money down on a leased car. If you have an accident, and the car is totaled, the money put down will not be recovered. You're in a difficult place. I'm sure a dealer will be able to finance something for you, but at not very favorable terms.

if running credit for mb financial, your credit will be ran and it should be in the system. regardless which dealership you go to. just tell them it was already ran at a different location, considering you are shopping around within the same month should likely be no changes. I am pretty sure this is the way it works.

Typically each credit check lowers the rating by 2 points.

Hi, my car is about to run out of factory warranty on it, when I called dealership then were givng me a very high number, are there any room for negotiation if it does, what's room? or that is the final price?

Update -- Denied! LOL! I would have had to apply again at dealership #2 because they don't take applications submitted at other MB dealerships. I spoke to the finance mgr at MB dealership #1 to get the details.

Relevant Side Note: I left out the part above that I'm getting out of the rental property business. Sold anything with equity, and did strategic default on two that had negative equity. One was completely foreclosed and the other is still waiting for foreclosure to complete. It's complicated, but after lots of research I decided strategic foreclosure makes sense for me.

Now back to the MB finance guy . . . I explained to him what I was doing *after* my application was submitted. In hindsight, we should have sat down before he submitted it. Everything was straight down the fairway as far as my application was concerned (20+ years of credit lines with good payment history, low debt to income ratio). Only problem was, MB Financial Services has a bright-line rule against lease financing with an "active" foreclosure default in progress. First one is done and written off so it shows $0 on my credit. 2nd is still in progress, and they won't touch it until it's fully closed out and shows $0 on credit report. He said they had another borrower a few months ago with same situation (strategic default) and that's when the learned that MB won't touch those. If we had spoken before he would have told me not to submit application. Hindsight!

Of course all this could have just been made up nonsense and his way of being polite. Who knows? So now I'm looking at other options, or maybe hitting pause on the lease until after the foreclosure is complete and shows $0 on credit. BTW, he said the 672 credit score wasn't an issue -- for those worried about approval with a 672 credit score. Neither was the previous foreclosure because the other factors ($0 balance, credit history, and debt-to-income) were favorable. Hope this helps someone else in a default situation (strategic or otherwise).

haha yes, confirmed you are right! my fault for thinking logically. i mean obviously you would have to fill out an app to attach to the contract, but figured they can at least use the same report that was pulled a few days ago from the database.

Had some questions for you lease gurus out there.

1. I heard somewhere MBFS no longer offers MF reduction on auto pay. Is this still the case or is this incorrect? What MF reduction should I expect?
2. MSD. I think this financially makes senses as the reduction in payment far surpasses the interest paid on my Barclay Online Savings Account @ 2.20%, but wanted to hear from you folks out there who actually used it and how easy is to work with MBFS to get the money refunded to you after lease ends (provided I paid all in full at lease maturity)?
3. I plan on doing 10 MSDs and do dealers allow one to pay MSDs with credit card? Need them miles!!!!
4. Is it still 0.00006 MF Reduction for each MSD?
5. Are the dealers willing to work with you on early lease returns (i.e. waive remaining lease payment). have four payments to remaining and have had not an ideal outcome when trying to return my lexus early in the past.
6. If numbers do work out, I may sell it to Carmax. Does anyone know whether I'm still required to pay sales tax when selling at Carmax. I understand MBFS payoff quote doesn't include sales tax.

Thanks in advance!!!!

1. I heard somewhere MBFS no longer offers MF reduction on auto pay. Is this still the case or is this incorrect? What MF reduction should I expect?

That is correct. When you lease there is no discount if you use auto pay.

2. MSD. I think this financially makes senses as the reduction in payment far surpasses the interest paid on my Barclay Online Savings Account @ 2.20%, but wanted to hear from you folks out there who actually used it and how easy is to work with MBFS to get the money refunded to you after lease ends (provided I paid all in full at lease maturity)?

You must run the numbers. I found that it did work. However MSD are not available in DC or NY.

3. I plan on doing 10 MSDs and do dealers allow one to pay MSDs with credit card? Need them miles!!!!

I put both the down payment ($500) and amount due on signing ($729) on my AMEX. See no reason why you should not be able to put the MSD on a credit card.

4. Is it still 0.00006 MF Reduction for each MSD?

Sorry do not know the answer.

5. Are the dealers willing to work with you on early lease returns (i.e. waive remaining lease payment). have four payments to remaining and have had not an ideal outcome when trying to return my lexus early in the past.

Check with Mercedes Financial. They were willing to waive my last payment.

6. If numbers do work out, I may sell it to Carmax. Does anyone know whether I'm still required to pay sales tax when selling at Carmax. I understand MBFS payoff quote doesn't include sales tax.

Have never dealt with Carmax. However, sales tax is usually required when you register the car - not when you sell the car. If you sold the car privately, the buyer when registering the car pays the sales tax. When you deal with a dealer, the dealer is authorized to collect the sales tax on behalf of the state. I assume Carmax takes your car and then resells it. If that is the case, when Carmax sells the car that is a taxable event and the sales tax is either paid by the buyer when he registers the car or collected by Carmax on behalf of the state.

Thanks in advance!!!!

I would not finance you a bowl of soup. You scooped the equity on the good properties but screwed the lender on the bad ones. Too bad those mortgages were not recourse so the credit company could recoup their losses. Loans are made on character which you sadly lack. Take the bus or drive a beater.

It's dealer policy as to the max they will allow you to put in a CC, my dealer had a max of $5k which covered some of my drive-offs and MSDs but not all.

The better question is what is MBFS's policy for early returns, I believe it depends on the new vehicle being acquired. When I went from a C to an E I was told the current policy was MBFS would take the car up to 6 months early, I returned mine 4 months early and those remaining lease payments were waived by MBFS.

THis is correct, depending on the promotion and which car you are jumping into next, they will waive either up to 6 mths or 3mths of the current lease. I think the OP might not have a BENZ tho? i think different brand..

Do you have the numbers for 2019 E450 Sedan 12k/36m? Thanks

In New York and Washington, DC MSD by law are not permitted so I have no experience with them. However, I have been leasing for over 30 years and I have had nothing but wonderful experience at lease end - as long as the lease is with the manufacturer's financial arm.

My 2016 E350 came off lease in December and I replaced it with a 2019 E 450. The inspection was done at my home and at a time convenient to me. All scratches, etc. less than the length of a credit card were waived. I had not charges.

My prior lease was on a BMW 5 series. It was about 3,000 under mileage. At lease end there were charges of about $350. When I called up BMW Financial and pointed out that I was substantially under the mileage allowance, they waived the charges - even though I was not leasing another BMW.

My experience is that the financial arm of the manufacturer wants you back as a customer: I would anticipate no difficulty getting your MSD back at the end of the lease.

Looking to finance a C-class Cabriolet
 

Transunion credit score and "to lease or not to lease"
 

Hi!

Just confirming MBF still uses Transunion for Fico Scores. If so, mine is 720. I have 12% credit utilization and 3 medical collections totalling $800 from the same hospital from 5 years ago that they will not remove. I've tried everything. Otherwise, perfect on-time payments for over 5 years. Employed full-time over 100K salary, 0 rent.

Question 1: Will I potentially qualify for the 2.99% loan at 60 months and is this also for 72 months? OR should I get pre-approved from somewhere else first? My credit score is under 700 with Equifax and Experian due to those collections.

Question 2: I work for a startup so I'm always trying to be careful in case my job goes away so I want the lowest payment that I can always pay more on monthly. I found a certified 2017 GLE for 37,000 that I love. Should I purchase or ask the dealer if they will lease it to me to get the payment even lower with an option to buy at the end?

Question 3: I really want the 2020 GLE but not sure when the release date is or what the lease offers will even be? The last dealer I spoke to in St. Louis said they will trickle in around June but in limited numbers. Google says different things like March/April...

THANK YOU so much for any feedback!!!!

Is this guy still around??? Haven't seen anything fro him in a while.

Well if you checked his profile, the last time he logged in was 8/2017 so it's been a while since he's been on here.

You do realize that the OP hasn't been on here since 8/2017 so you're unlikely to get a response right?

Does MB ever offer financing on CPO SL's?

Thank you! That was one of the most comprehensive and helpful posts ever.

base on a tier one credit over 700 score, a money factor of 0.00360 seems high equal what type of interest?

To convert MF to interest multiply by 2400:

.00360 X 2400 = 8.64%

EW Purchase
 

Hey Finance Person,

i have 40K Mike’s on my 2015 S550. The manufacturer warranty expires April 2019.
What can I expect to pay for an extended warranty?
I live in Maryland is there a dealership you’d recommend to purchase a EW?
VIN WDDUG8FB6FA176998

He hasn't been on here since 9/2017 so it might be a while if you're waiting for a response.

I would try the vendors mentioned in the extended warranty subforum, there's 3-4 vendors mentioned all the time that are very competitive.

https://mbworld.org/forums/extended-...-warranty.html

getting a w204 2015
 

HI

I live out here in canada, so don't know how different the situation is going to be.

A couple of months ago, I bought a 2017 c300 basic sedan 4matic . But soon got bored of it because its a basic with the least packages on it as it was purchased by a rental company and returned at the expiry of the lease.

Now I'm looking at a loaded dark grey 2015 c300 4matic with all the desired features (except one; doesn't have the intelligent lighting system.)

It has 74k kms on it but since it comes with a 2 year/120k extended warranty. I am willing to compromise.

The one that I own could be estimated for a trade-in appraisal for anywhere arounf 25-28k (CAD !). But the one that I'm trying to buy is 36k.So already, I'm in a bad position.

Little bit about myself. I work here as a retail manager making around 50k (CAD !).The last loan that I took was approved at 5.74% APR.

I have good credit standing. I know dealerships here have a cut they make depending on what interest rate they approve their customers.
I really want another car with all those cool features that make me look like I'm actually driving a premium vehicle.

I think I know a guy who could get me a discount since he claimed that he was a wholesaler and personally knows the dealership owner, so fingers crossed !

My first question is, the color isn't ideal (white or black are !) and the one that somehow could actually be in my budget doesn't have the intelligent lighting system or the ideal color.
So even if i'm looking at 10k worth of total losses put on top of me buying an older vehicle, it still bothers that I might not be happy in the future.
So should I wait for the ideal vehicle and hope its still around the same price ?


Secondly, my roommate's buddy got a loan approved from MB finance and he got a really nice 1.9% APR with is AWESOME, which was only because he had a mortgage under his name otherwise he had a good chance of getting a 0.9% interest.

When do you guys offer such great interest rates ? Could you let me know so I could shop around then !

what are some crucial points that i can use in order to negotiate ?? I really need some and I'm desperate at this point !

I'm willing to put upto $3000 CAD cash down to show the bank that I could be low risk , which I know just sounds absurd for someone who is buying a Mercedes.

Could you help me giving some advice here ?

I saw you answering people's financial queries and was amazed that they still make such amazing people like you !!!

Thanks in advance for taking your time to read this !

Hello,

I just ordered my 2020 AMG GTR also hoping to trade my 2018 G63 as well..Im a little upside down on my 2018 G63 because I owe more than what every dealers is offering me.
My question to you is what would be the best decision for my G63 and also can you give me the Residual value and the money factor for the GTR. I'm trying to have estimates between leasing and financing.
I'm looking into 36/48/60 months leasing witch ever fits me best and also a long term financing as well.
I would gladly appreciate your help.


Thank you so much,

Hi I just picked up a New e400 Loaded looking at extended warranty cost I have been told $2700 for 2 more years and $3650 for 3 more years at 75000 miles Tire and wheel for 5 years $1895 or 6 years $2195.00 Getting this very soon thank you in advance for your reply

The guy that started this thread has been gone for a long time. Time they close this one.

Credit Score
 

I have a question regarding financing. I have a credit score of 680. I am thinking about an s-series. The question is: would my score qualify me for either lease or purchase; and which one is less hassle?

I am not the finance guy and I assume you didn't read many of the posts (or at least the most recent post before you asked your question) , lol. However, I am sure you can. You may not get the top notch interest rate, but you should be able to do either.

leasing for sure but you can do either both...all that credit thing is a way to get more money from you but you can leasing or purchased with even a lower score with great credit history

Good Day All-

I hope you are well.

This may be a silly question. Near the end of my long time waiting for my vehicle to arrive I was asked who I worked for to see if there were any incentives. I did not hear anything then after I got the vehicle they emailed me two documents to sign and one is an EAB document for a $500 incentive. Shouldn't they cut me a check for that if I sign it?

Best regards, Tony

So I am 23 years old
my fico score is 712 TU is 702
but the thing is i just have 1 year of experience on my credit
i wanted to trade in a paid off 2013 maxima with 2-3K down
to lease a c43 coupe
do you think MBFS will approve me.??
the monthly income is about 5-6k provable with last 3 month of bank statement!

I would think you will be totally fine.

Hello,
i am trying to link my account to Mercedes Me app, but its giving me this error. can you pls help in identifying in what seems to be the problem?

also not related to your field, but the internet is also not working on my 2017 E300 4MATIC, can not start/stop engine , lock/unlock doors/ locate my car from my app.

pls see the attached image for your reference.

I would really appreciate any kind of help.


https://cimg3.ibsrv.net/gimg/www.mbw...48bec4b2b7.jpg
https://cimg4.ibsrv.net/gimg/www.mbw...824d042e68.png

OP I pmd you can you please respond thx

OP has not been around or responded to this thread for ages.

OP Last Activity: 08-19-2017 03:48 PM

Hi, I've noticed that MB Finance web site does not allow more than a 25% downpayment. Can this be true? Also can you please describe the advantages, or not, of balloon financing?
Thanks, Jerome

How are you finding this thread? OP is gone.

OP Last Activity: 08-19-2017 03:48 PM

Wow, I found this thread via search. I'm new to the mbworld forums. Thanks for the heads up.
Any suggestions on where I might find answers to my Qs?
Thanks, J

I do know that you can put down more that 25 percent. I did in December.

Prepaid Maintenance
 

I just purchased a 2019 E53 from a MB dealer in Chicago. I elected to buy the 4 year/40000 mile prepaid maintenance plan. As best I can tell, this is a plan offered by the manufacturer, not the specific dealer, because I can get the maintenance at any MB dealer. The car was purchased without financing. I was charged 2,365 for the maintenance plan, but the MBUSA site shows a price of 1,965 for the plan. Are MB dealers allowed to charge more than what is shown on the MBUSA site? Do you think this was just a mistake? Funny that the price is an even 400 higher. Maybe the MBUSA site is behind in its updating? What do you think?

I think what you'll find is the service plans you see in MBUSA are the basic services, whereas most dealers provide more services in the prepaid plans, including such things as wiper blades, etc. To be sure, speak with your dealer about the difference in price, but I think you'll find this is the case.

Does MB financial use the TransUnion fico score or the fico auto 8/9 score?

Sub Prim question
 

Hi,
I wanted to inquire about Mercedes Benz credit tier. I have had a couple slips and my credit is high 500s. My coborrower is low 700s. What are my chances of getting a decent lease rate?

Thanks!

The original poster in this thread hasn't been active since 08-19-2017

You may find helpful information posting on https://www.reddit.com/r/personalfinance/

NetStar
 

Does anyone here have access to netstar that can run a vin and tell me the status of the vehicle ?

VIN is W1N0J6EB7LF821360

Thanks in advance

What do you mean by "status"? You can decode the VIN here.
Not all VIN decoding sites can decode newer VINs.

Cannot tell you delivery status (contact dealer), shipped from factory 3/18 see attached data card.

Maybe can someone decode my vin? Would like to know what options are equipped, different decoders gives different info, so I dont trust these on web pages any more.
vin: WDDZF6BB6KA619969

1/29/19

Thanks konigstiger!

Now i ques while waiting for car to arrive, i should buy some options to retrofit :)

Hi. Do you know how many alternators that a Mercedes S400 Hybrid have. I know you said you are finance. I was hoping that can let me know. Thank you so much.

I’m not finance Mercedesfinance (who started this thread) is, somehow it evolved into data card requests. Anyway, one alternator, see attachments.

https://cimg4.ibsrv.net/gimg/www.mbw...1f688645c1.jpg

This is so awesome. I can read this while I am home quarantined. LOL!! Thank you for this information

hey guys just bought a g wagon from a dealership and with tier 1 mbusa financing they are charging me 5.32% @72 months how badly did they pad the loan?


lol sorry for reviving an old thread

With interest rates at historic lows, regardless of whether the dealer padded the loan or not, I would never ever pay 5.32% on a loan.

Could you not do better at your local credit union or a bank? IMO, 5.32% is obscenely high.

Not bad if you have a history of bankruptcy and repossessions. Other than that, you got screwed. Go refinance ASAP at a local credit union.

thats a shaft. refinance it asap. unless, the other poster suggested, you have bad credit.

Depending on the State, there are consumer protection laws that permit rescinding of contracts within 72 hours.

If I were you, as I posted I would never pay over 5%, try to cancel this deal. It is horrendous!

Today's auto loan rates for a new car are between 2% and 3% for those with good credit. For example Bank of America is offering 2,59% APR.

Ford on their new Mustang EV 8 years, 2.9%.

my bank is offering 2.49% for 72 months. 5.32% indicates bad credit or a very happy finance officer.

Just purchased a 2021 GLE450
 

Can you tell me what the mandatory fees a dealer can legally charge? I know I will have to pay tax, license, and doc fees. Can they legally add fees like serial number etching and advertising fees to my purchase?
Thanks in advance for your help.
Brian

they can legally add a water bill surcharge, customer paying it is another story.

As stated, they can charge whatever they want. In Florida, a lot of dealers charge an extra $900 or so. They just have to disclose that that includes profit. Yes, you agree on a price. Then they tack on profit.

I plan to keep my 2018 E63s for more than three years and want to purchase extended coverage, what is the best way and what is the cost?

Which is why I always tell the salesperson, give me your best price including any fees. If they try to tack on anything above the agreed on price, I walk.

Yup, I don't dicker. I tell them to give me their best price up front or I walk. I've walked a few times. My MB dealer for over 40 years complies. The other dealers (BMW, VW and Hyundai) not so much.

Hello,
I just saw your offer and really need some help with MBFS. We have been trying to get a letter from MBFS on their letterhead stating the payoff for my MB e550 and have spoken with 4 different people and have received a fabricated story from every one. We need thew letter because my buyer is asking for it prior to closing the deal. Can you recommend a manager that we can call to get a valid answer, right now it looks like we have lost the sale. Will appreciate any thing you can do. Thanks Randy

Can you not get it online? Maybe different where you are but in UK it is all done online and a headed settlement quote is presented instantly and then emailed.

I would think you can get your buyout price on online through mb financial services.

21 GLE 450
 

I am likely getting my ordered vehicle in this weekend - GLE 450. Couple of questions... THANK YOU in advance for your consideration.

The salesman has reiterated that my employer (A Bank btw) grants me a discount to MSRP. This comes to $4,000 off. I am wondering what tactics they will leverage to add profit back onto the MSRP? (The demand for this vehicle seems high... and the salesman has reiterated the MSRP discount this week.) At closing I will skip the prepaid maintenance and extended warranty. They have affirmed this will not complicate the discount.

Also I have top tier credit... can I expect a rate around 3.5% for a Loan?

Thanks again!!!

why aren’t you going through your employer? You should get a better rate. I just a rate of 2.54 for 72 months.

Loan incentive through the dealer qualifies the discount. It is N/A directly through my employer - applying at the bank.

I suppose they get a commission for the loan as a dealer and the rate will be slightly higher.

I will know tomorrow.

I have a few questions if you could please message me. I tried messaging you
 

You may be waiting a while. He hasn't been on this forum since 2017.

Damn! I didn’t notice that thank you

Third-Party Buyout??
 

Spark plugs are replaced at 50,000 miles.

Transmission fluid at 60,000 miles.

Brake fluid every two years or 20,000 miles whichever comes first.

PPM can be bought to cover these items: If the PPM is for service at 50,000 miles, which includes the replacement of the spark plugs, this will be reflected in the higher cost of the PPM.

My car was leased and I put the PPM in the lease and it was residualized: the residual on my car was 61%, so the actual cost of the PPM was 39%, plus interest plus tax. Most people have found that dealers have specials for the "A" service so the cost is about $200 and coupons for the "B" service, about $700, which makes the cost for the first "A" and "B" service under $1,000 which I believe is less than the two year, 20,000 mile PPM.

Very few have found that buying the PPM has saved them money.

Hope this helps.

I will be ordering a GLC300 when they finally arrive in the states. Assuming that leasing stays as is I am thinking of leasing for more than 36 mts. Say 42 or more which will bring the payment down to an affordable amount. My question is with a new lease what happens if I decide at the 36mt mark and I want to get the latest and greatest GLC300? How do the dealers handle the various fees? Turning the car in early? Not sure if the mileage gets adjusted? Any input will be appreciated.

A couple of things:

• The general rule in leasing is that when you extend the lease you must save substantial money: As the lease term is extended and mileage builds up wear and tear items, tires and brakes for instance need to be replaced. Any monthly savings by extending the lease may be more than offset by the cost of new tires, about $1500 and brakes.
• There are different money factors for different terms of a lease. Usually the most efficient is the 36/39 month lease. When you to out further the increase in the money factor may eliminate any savings.
• Residual: the lower residual on 48 vs. 36 month lease may negate any savings.

If you have a 48 month lease and want to end early you can do it: However, prior to the pandemic where almost every lease was upside down - the car was worth less than the residual, you were required to pay the remaining months on the lease: this was the same whether you kept the car and drove it, kept the car and put in a garage or returned the car. There is no mileage adjust.

With the pandemic, where the residual is less than the value of the car, in which case you have equity in the car, you might be able to get out of the lease by just returning the car or even a small profit.

But frankly I would not count on it: I believe in "reversion to the mean": In leasing that means you will be upside down and if you want to get out of your lease early, it will cost you.

Hope this helps.

Thank you, it does help.

I guess this is turning into a finance thread as the OP left a long time ago. In the past, the dealers used to let you turn in a lease up to 6 months early without penalty if you got into a new lease. Now with all the covid changes, not sure if that's true anymore. Might be true in 3 years when/if things get back to normal. And yes, usually the 3 year lease is the best deal which is typically why most leases are just 3 years. Going longer you should run the numbers and see if buying makings more sense. You should also consider rolling in the pre-paid maintenance package in with the lease, that gets rolled into the MSRP so if the residual is 50%, you only end up paying for 50% of the maintenance package even though you use up the entire maintenance package at the end of the lease.

The 6 month without penalty you are referring to is called the "pull out" - Mercedes will "pull" you out of the lease.. From time to time Mercedes offers this program and it can be 3 months or 6 months. As you correctly posted it is to encourage the lessee to get into a new Mercedes.

Do not know if the program is presently available.

PPM: you are correct. If you do a 36 month/30K miles, most common, which I have done many times, the residual is about 60%: I took the 2 year PPM to cover the maintenance at 10K and 20K miles. My cost was 60%of the MSRP of the PPM plus interest plus tax and it was worth it. If you are not leasing with the coupons for both the "A" and "B: service that dealers regularly offer it is much cheaper to do that then buy the PPM or use an indy shop.

Anything over 36 months typically should go finance/purchase. If you need to spread a lease more than that you can't afford the car.

Right now it's 3 months. If the market softens more, expect to see 6 months sooner than later.

I'm looking at 3-4 months before the GLC300 is in the showrooms. Running numbers is very hard with all the numbers up in the air and then some.

I like the idea of having a fixed value at the end of the lease. I have done pre-paid maintenance for 2 years on a 3 yr lease, since at the 3yr mark you turn the car back and the last maintenance is on MB.

One other wrinkle. Mercedes will extend the lease for 3 months. You need to give them a PO number. But at least for the 300 this is impossible at this point . The dealers can't order cars so no PO number.

THANKS for the input.

This makes absolutely no sense where you intend to get a new car in 36 or 48 months:

When you finance you are paying for 100% of the depreciation. When you lease only a portion of the depreciation, the residual, plus there is a big tax savings.

For example: You only intend to drive 7,500 miles per year. You decide to take a 48 month lease. Assume the residual to be 54%. You have fixed your depreciation expense at 54% and your month payments reflect that. At 4.5% money factor on a $72,000 MSPR your monthly payments will be $879.90 plus tax at the rate of 8%, $71.83 total $951.72. In most states, on a lease the sales tax is on the total of the monthly payments not of the purchase price. In most states., The total of the monthly payments will always be less than the purchase price so there will always be a tax savings.

Now if you finance the car at 4.5% for 48 months, you will finance $72,000 + tax at the rate of 8%, (unlike a lease when you finance you pay the tax on the full purchase price) $5,760, total $77,760 your monthly payment will be $1774.

Your monthly payments will be nearly double financing vs. leasing.

At the end of 4 years your total lease payments will be $45,682. If you purchase, $85,152 a difference of $39,469.

So at the end of 4 years for financing to be cheaper, your Mercedes must be worth more than $39,469, which is 55% of MSRP.

Historically, nearly 99% of a leases are "upside down": the value of the car at the end of the lease is less than the residual and why most cars at lease end are returned.

For financing to be better financially, the value at 4 years must be greater than the residual, 52%, which is highly unlikely.

However, in the event the value is actually higher than the residual than the lessee with have equity in the car to be applied to the next lease.

This is a case of a win/win in leasing vs. financing and a case where you "can have your cake and eat it".

If anyone is still around I have a question about buying a used Mercedes that is financed through mbfs via a loan. The car is a 2019 e class. Private party seller. I would be financing the car as well. My question is how would I go about buying the car when mbfs isn’t a bank we can go into with a check and walk out with a title? Is this something a mb dealer would offer as a service?

I suggest you get the details of the car, call MBFS and see if they will:

• Let you take over the loan
• Refinance the car

When my lease ran out in December 2021 I decided to buy my car. Initially MBFS told me that to finance the purchase I had to go through a dealer. The dealer's wanted a "finance fee" of $2,000. I then called MBFS and they told me that whoever at MBFS told me I had to go through the dealer was incorrect, that I could deal directly with MBFS and their fee was $150. I did and was able to obtain financing for the full buy back in my lease. I elected 36 months, basically the same monthly payment as a 36 month lease on a new 2022 E450.. The interest rate on the loan was 2.6%. I found that only Bank of America would finance a used car. I am a preferred customer at BOA. By way of comparison, with all discounts, the best interest rate was 3.9% I also put the state sales tax into my loan. I then took an extended warranty for 36 months, 75,000 miles, $2200.

Hope this helps.