Does this lease deal add up?
Thread Starter
Newbie
Joined: Dec 2015
Posts: 14
Likes: 1
From: New York
CLA250
Does this lease deal add up?
MY18 GLC43
List $69,565
Selling price $65,043
36 Months
7500 Miles per year
$886.95 per month
$4466.90 due at signing + DMV Fees
Residual 57%
Money Factor .00158
List $69,565
Selling price $65,043
36 Months
7500 Miles per year
$886.95 per month
$4466.90 due at signing + DMV Fees
Residual 57%
Money Factor .00158
Member
Joined: Feb 2017
Posts: 156
Likes: 23
From: Virginia
2015 370Z Nismo, 2018 GLC43 (on order)
or....
I don't know what I am talking about, but it makes lots of cents to me.
Wait, $4466.90 plus tax+tag? or is the tax include in the $4466.90 number? ugh....nevertheless my model works for the financing as that is what my worst case scenario is based on ($65,616) and my payment works out to ~$860 a month.
What State and what is the sales tax rate? In the lease the sales tax is only on the leased bit which will be much less, but even if sales tax is something dumb you'd still be better off buying based off of residual.
/rant
Thread Starter
Newbie
Joined: Dec 2015
Posts: 14
Likes: 1
From: New York
CLA250
No it does not. If you buy and get a 7 year note through a credit union your payments will be less than that with about the same down. After 36 months the remaining principle on said note would be around $29K where the residual leaves you at $37K to buy out the car. Now, maybe you don't want the car after 3 years and can just turn it in, but that still doesn't make sense as trade in at that point would probably still be much more than what you would owe on the note. Not to mention that if you need to get out before 36 months it's going to be a lot harder than if you purchased.....
or....
I don't know what I am talking about, but it makes lots of cents to me.
Wait, $4466.90 plus tax+tag? or is the tax include in the $4466.90 number? ugh....nevertheless my model works for the financing as that is what my worst case scenario is based on ($65,616) and my payment works out to ~$860 a month.
What State and what is the sales tax rate? In the lease the sales tax is only on the leased bit which will be much less, but even if sales tax is something dumb you'd still be better off buying based off of residual.
/rant
or....
I don't know what I am talking about, but it makes lots of cents to me.
Wait, $4466.90 plus tax+tag? or is the tax include in the $4466.90 number? ugh....nevertheless my model works for the financing as that is what my worst case scenario is based on ($65,616) and my payment works out to ~$860 a month.
What State and what is the sales tax rate? In the lease the sales tax is only on the leased bit which will be much less, but even if sales tax is something dumb you'd still be better off buying based off of residual.
/rant
MBWorld Fanatic!
Joined: May 2008
Posts: 2,236
Likes: 162
From: DFW
2022 E350 Diamond White Metallic, 2016 GLC300 Dakota Brown Metallic
Sales tax will vary depending on the state. In Texas you get screwed. You pay tax on the entire price of the car minus your trade. If you do not have a trade, no luck.
Junior Member
Joined: Feb 2017
Posts: 66
Likes: 7
From: Arizona
GLC43
I think your lease numbers are a little high. At 7500 miles per year you would qualify for highest residual because you are giving the car back with 22500 miles on it and will be very easy for the dealer to sell upon turn in. Most leases are 12k miles per year. 57% is a good residual, but your .00158 money factor equals a 3.7% interest rate which is high. If you have good credit you should be able to cut that interest rate in half. MB offers many different interest rate tiers. Also your due at signing should be at most your 1st months payment, your acquisition fee and your DMV fees. 4466.90 is much more than that. Ask to see what makes up that number. If you still want to lease make sure 7500 miles per year are all you need and then you still have room to negotiate on your due at signing and money factor. There is a great app called leasematic that allows you to plug in numbers and gives you a good idea on payments too.
Member
Joined: Feb 2017
Posts: 156
Likes: 23
From: Virginia
2015 370Z Nismo, 2018 GLC43 (on order)
My rate is 3.3% and loan amount is figured on $64,616. I am glad my response brought some more info on leases as I am weak in that area. That tax is hurtful, but is still in line with what you are putting down. Good luck!!
Junior Member
Joined: Feb 2017
Posts: 66
Likes: 7
From: Arizona
GLC43
VET11B please note by no means was I saying an interest rate in the 3's was high for a finance or purchase - that is very standard. For a lease it's a bit high- both of our Mercedes have .00097 money factors which is more typical with a lease and equates to a 2.3 interest rate. Also to quickly figure out the interest rate on a lease multiply the money factor by 2400.
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Member
Joined: Feb 2017
Posts: 156
Likes: 23
From: Virginia
2015 370Z Nismo, 2018 GLC43 (on order)
VET11B please note by no means was I saying an interest rate in the 3's was high for a finance or purchase - that is very standard. For a lease it's a bit high- both of our Mercedes have .00097 money factors which is more typical with a lease and equates to a 2.3 interest rate. Also to quickly figure out the interest rate on a lease multiply the money factor by 2400.
Did not take it that way at all. Like I stated above I am by no means an expert on leases.
Last edited by VET11B; Jul 4, 2017 at 11:32 AM.
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Senior Member
Joined: Feb 2002
Posts: 303
Likes: 46
From: Minneapolis/ St Paul
Try leasehakr.com, also there is a MB Finance member on this site that can help you answer your questions by name of mercedesfinance
https://mbworld.org/forums/members/385135-mercedesfinance.html
https://mbworld.org/forums/members/385135-mercedesfinance.html
Last edited by Rainers; Jul 4, 2017 at 12:09 PM.
