ML350...good deal?
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MBWorld Fanatic!
Joined: Jun 2005
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ML350...good deal?
Hey guys a friend of mine is looking to lease an ML350...what do you guys think of this deal?
2008 ML350 with P1 pkg, heated front seats, and iPod integration.
33 month lease with 12K/year.
Money factor of .0022 and residual of 61%
$2000 down plus inception fees ($795 acq. fee, first month payment, and tag, title, etc).
Total out of pocket will be around $3566.
Monthly payment inc. tax would be $626.
2008 ML350 with P1 pkg, heated front seats, and iPod integration.
33 month lease with 12K/year.
Money factor of .0022 and residual of 61%
$2000 down plus inception fees ($795 acq. fee, first month payment, and tag, title, etc).
Total out of pocket will be around $3566.
Monthly payment inc. tax would be $626.
Newbie
Joined: Dec 2007
Posts: 1
Likes: 0
ML350
Specifics of the deal
ML350
P1 pkg
heated front seats
iPod integration
MSRP $49,970
Selling price $46,426
33 mos/ 12K
money factor .0022
residual 61%
$2000 down + inception fees (about another $1560)
$3560 due at signing
monthly lease $626 (inc. tax)
P1 pkg
heated front seats
iPod integration
MSRP $49,970
Selling price $46,426
33 mos/ 12K
money factor .0022
residual 61%
$2000 down + inception fees (about another $1560)
$3560 due at signing
monthly lease $626 (inc. tax)
Junior Member
Joined: Nov 2007
Posts: 63
Likes: 0
From: AZ
2008 ML550; 2005 SLK55
It looks like a pretty honest deal from the standpoint that they aren't trying to add fees back into the adjusted cap cost which is a good ol' trick. With my little spreadsheet, I guesstimate $587/mo not including tax. So if your tax rate is around 6.5-7% all is accounted for. What is the invoice price on the car?
It looks like they are already discounting the money factor pretty good. For this deal, it looks like every reduction of 0.0001 (i.e. from 0.0022 to 0.0021) is the same as a $200 reduction in selling price, and drops your payment by about $7-8/mo.
Hope that helps!
It looks like they are already discounting the money factor pretty good. For this deal, it looks like every reduction of 0.0001 (i.e. from 0.0022 to 0.0021) is the same as a $200 reduction in selling price, and drops your payment by about $7-8/mo.
Hope that helps!
