leasing a ML350 may 2008..need help!
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saab 93
leasing a ML350 may 2008..need help!
Hi guys. Newbie here. shopping today lst time for ML350. Previous ML320 owner from years ago.
I went the dealership today and surprisingly the dealer wouldnt move on the national program:
ML350, P01, heated seats (50k msrp) - less 2000 rebate and 1180 additional off.
$559 plus tax
10000 miles per year
33 months
5704 dollars down (3350 cap cost reduction,795 bank fee, lst payment, $599 additional "dealers prep"
I welcome thoughts, suggestions, other recent deals, amuniton etc!
I went the dealership today and surprisingly the dealer wouldnt move on the national program:
ML350, P01, heated seats (50k msrp) - less 2000 rebate and 1180 additional off.
$559 plus tax
10000 miles per year
33 months
5704 dollars down (3350 cap cost reduction,795 bank fee, lst payment, $599 additional "dealers prep"
I welcome thoughts, suggestions, other recent deals, amuniton etc!
MBWorld Fanatic!
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From: Philadelphia area
2010 ML550, 2010 E350 4M, 1966 Corvette Convt C2
In my estimation this makes no sense at all. The money up front alone negates one of the most important aspects of a lease, and that is no cash outlay. Another point is that to me and lots of others a lease only makes sense in a business situation with the write offs and not having to show the obligation on a balance sheet. If you must lease there are other ways to keep your payment down, one is to place a large deposit with MBCC that is refundable at lease end, another is to do one payment a year in advance.
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MB GLK 2010
Wow. That's a lot of up front fee/payment. I got my lease ML350 2006 after negotiating the price down to 42K, with same option as yours. I did not pay any up front payment except for the 1st month lease. I think the dealer was desperate in getting rid of the car that has been sitting there a LONG time. You should check out consumer report on this car. I have had too much problems with it (transmission, brakes, locks, noises, interior wood crack, wheel alignment, etc etc). This weekend I have to take it back to the dealer AGAIN for another problem (leak to a right rear joint). Once my lease is up I need to find another "high end" car that has minimal problems. Mercedes? hmmm....
MBWorld Fanatic!
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From: Philadelphia area
2010 ML550, 2010 E350 4M, 1966 Corvette Convt C2
Wow. That's a lot of up front fee/payment. I got my lease ML350 2006 after negotiating the price down to 42K, with same option as yours. I did not pay any up front payment except for the 1st month lease. I think the dealer was desperate in getting rid of the car that has been sitting there a LONG time. You should check out consumer report on this car. I have had too much problems with it (transmission, brakes, locks, noises, interior wood crack, wheel alignment, etc etc). This weekend I have to take it back to the dealer AGAIN for another problem (leak to a right rear joint). Once my lease is up I need to find another "high end" car that has minimal problems. Mercedes? hmmm....
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From: Md, Fla.
2021 GLC 300 4Matic
With regard to putting money down on a lease...usually a bad idea. If the vehicle is declared a total loss from theft, accident, etc, GAP insurance will cover the payoff, but not any money that you put down for cap cost reduction.
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touaregv10
haha yall dudes are crazy man..i would never ever ever ever buy a car like that..a big loan for a car makes no sense..save up the money bro and than buy a car..it will feel better believe me.
im from the netherlands, europe..down here aint nobody leasing no car, either you have the cash or you dont lol
i have 1 question though, im thinking about buying an ml..the 320 cdi's (diesel) are still very expensive down here so im thinking of buying an ml350 (gas) but i have to know how much they consume..after having owned a touareg v10 diesel im not buying another fuel thirsty machine anymore lol
please note that 1 liter of gas costs 2,5 dollars s a gallon costs 12,5 dollars!!
im from the netherlands, europe..down here aint nobody leasing no car, either you have the cash or you dont lol
i have 1 question though, im thinking about buying an ml..the 320 cdi's (diesel) are still very expensive down here so im thinking of buying an ml350 (gas) but i have to know how much they consume..after having owned a touareg v10 diesel im not buying another fuel thirsty machine anymore lol
please note that 1 liter of gas costs 2,5 dollars s a gallon costs 12,5 dollars!!
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From: Philadelphia area
2010 ML550, 2010 E350 4M, 1966 Corvette Convt C2
I think you may be dreaming, The figure you mention is lots more than the mark up on the vehicle,the incentive on the vehicle and the hold back. You expect the dealer to loose money on the deal?? They are there to make a profit not create a loss.
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From: So Cal OC
'06 ML 500, '06 Prius, '05 Lotus Elise
perhaps it's closer to 5k off, regardless, it's moot since the prospective buyer is no longer here
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From: Philadelphia area
2010 ML550, 2010 E350 4M, 1966 Corvette Convt C2
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From: So Cal OC
'06 ML 500, '06 Prius, '05 Lotus Elise
ok, sosh, i'll bite...
how much do YOU think a good deal for an '08 ML350 be?
and since we're on topic...
i assume you think $6k off MSRP on an E350 lease is also way off?
how much do YOU think a good deal for an '08 ML350 be?
and since we're on topic...
i assume you think $6k off MSRP on an E350 lease is also way off?
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From: Philadelphia area
2010 ML550, 2010 E350 4M, 1966 Corvette Convt C2
Dealer invoice is MSRP less transportation less 7% and then add the transportation back in. Actual dealer cost which is less than the invoice is less another 3% that comes back to the dealer after the end of the month or quarter as a "hold back". In my estimation the dealer must give a discount of no more than 5 to 6 percent to just stay in business and pay the salesman his commission. Of course there are from time to time factory dealer and/or purchaser incentives which will lower the purchase price. So, you figure it out and remember the investment in the facility and overhead the dealer must pay just to be able to stay in business. If you do not understand the cost of being in business you have never been in that position. There is a big difference between collecting on a payroll to making a payroll.
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saab 93
i am here. And i made a final deal. $573mos, 1250 down, 33 mos, 12000miles. I thought it was fair. You guys were very helpful! What do you think sosh?
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From: Philadelphia area
2010 ML550, 2010 E350 4M, 1966 Corvette Convt C2
If you do not mind the small up front cash it is fair. However I would not have even put the cash up front but perhaps a refundable deposit if that option was available to you. I see you went from 10K miles per year to 12K. Do you need the miles? If so, OK, if not its wasted cash.From what I was told and have experienced the refundable deposit option and the once a year payment option is only available to top tier credits.
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saab 93
If you do not mind the small up front cash it is fair. However I would not have even put the cash up front but perhaps a refundable deposit if that option was available to you. I see you went from 10K miles per year to 12K. Do you need the miles? If so, OK, if not its wasted cash.From what I was told and have experienced the refundable deposit option and the once a year payment option is only available to top tier credits.
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2010 ML550, 2010 E350 4M, 1966 Corvette Convt C2
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From: So Cal OC
'06 ML 500, '06 Prius, '05 Lotus Elise
Dealer invoice is MSRP less transportation less 7% and then add the transportation back in. Actual dealer cost which is less than the invoice is less another 3% that comes back to the dealer after the end of the month or quarter as a "hold back". In my estimation the dealer must give a discount of no more than 5 to 6 percent to just stay in business and pay the salesman his commission. Of course there are from time to time factory dealer and/or purchaser incentives which will lower the purchase price. So, you figure it out and remember the investment in the facility and overhead the dealer must pay just to be able to stay in business. If you do not understand the cost of being in business you have never been in that position. There is a big difference between collecting on a payroll to making a payroll.
Given the upcoming facelift on the ML and the soft economy, it's not out of the question to get another $1 - 1.5k off -- which brings the discount closer to 5.5 - 6k.
Currently, I'm offered close to 7k off MSRP on E350's w/ 55k msrp. And this is by a couple of dealers. A couple more offered 6k off.
So... I agree w/ your point above. If you want to be fair to your dealer, don't ask for more than 5% off.
And since this board is here to share information, be aware that while you're paying a fair price, there are others paying 1-2k less than you on the same vehicle.
At least that is the case in southern california. Probably not the case in the city of dealerly love.
Cheers
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From: Philadelphia area
2010 ML550, 2010 E350 4M, 1966 Corvette Convt C2
First off MB's dealer pricing as far as incentives go, like most mfgers will vary from region to region. Secondly there are sometimes incentives on cars that MB has made for another order that for some reason was not taken by the dealer/buyer. Third, There is no dealer that has any staying power that will sell cars below his raw cost. In addition there are from time to time incentives to the dealer that are not publicized to assist them to move inventory to allow them to accept new cars from the factory. In many cases the sales people who by the way do not set or have the authority to price cars are not aware of. Only the sales mgr or general mgr in most dealerships can approve a deal.
The discounted price I mentioned is not close to what you suggested there is a 10% difference. That 10% in that price can mean a lot. As for the E Class discounts the 211 is coming close to the end of its run and they would like to move these so that there is not a lot of 211's left in dealer or factory inventory when the new model is announced. I would not be surprised to hear that there are "hidden" incentives on these cars when in fact thats the only way these prices can exist without the dealers taking a bath.
As for the ML "facelift", these are very minor and mean next to nothing its not like a new model. In many cases you have to look pretty hard to see a facelift. Perhaps you do not remember when US Models used to radically change every year, ie the 56/57 and 58 Chevrolets While others had quite minor changes ie the 1963 to 1967 Corvettes. I have a 66 Vette and without knowledge you can't tell if its a 65 or 66.
The discounted price I mentioned is not close to what you suggested there is a 10% difference. That 10% in that price can mean a lot. As for the E Class discounts the 211 is coming close to the end of its run and they would like to move these so that there is not a lot of 211's left in dealer or factory inventory when the new model is announced. I would not be surprised to hear that there are "hidden" incentives on these cars when in fact thats the only way these prices can exist without the dealers taking a bath.
As for the ML "facelift", these are very minor and mean next to nothing its not like a new model. In many cases you have to look pretty hard to see a facelift. Perhaps you do not remember when US Models used to radically change every year, ie the 56/57 and 58 Chevrolets While others had quite minor changes ie the 1963 to 1967 Corvettes. I have a 66 Vette and without knowledge you can't tell if its a 65 or 66.
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From: So Cal OC
'06 ML 500, '06 Prius, '05 Lotus Elise
But yet, even when I said:
And then you go even further to suggest that we should not ask for a little bit more discount so we can "keep our dealers in business" by not asking for another $1500 off this ML deal because
... sorry, you already answered that ...
You've made it clear that you're here to police
However, you still haven't answered my question -- or I must be thoroughly confused by the 66 Corvette rant -- so let me repeat the question:
In $$$ amount (not %), how much $ off should we ask for an 08 ML350 w/ a $50k MSRP?
Let's not even worry about the face-lifted '09 ML that's coming in a few months because
Last edited by AuBears92; May 13, 2008 at 05:09 PM.
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saab 93
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2006 BMW 330i, 2006 BMW X3
Just as a FWIW towards the regional incentive comment... My uncle is a Chrysler employee, which are still offered the employee discount. Today I was offered an ML350 at $404 / mo, ~ $1400 up front, 12k miles / year. That's a smokin deal for any Chrysler family out there. Not sure how regional it is or how long it will be available. I'm not too sure on the options that these particular cars had, but I could figure it out if there is interest.
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From: WESTPORT CT
488 GTB
Just as a FWIW towards the regional incentive comment... My uncle is a Chrysler employee, which are still offered the employee discount. Today I was offered an ML350 at $404 / mo, ~ $1400 up front, 12k miles / year. That's a smokin deal for any Chrysler family out there. Not sure how regional it is or how long it will be available. I'm not too sure on the options that these particular cars had, but I could figure it out if there is interest.
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From: NYC
2014 CLS 550
Instead, I went to MB of Manhattan and negotiated a 33 month lease, 10,000 miles per year, on a P2 car with Ipod, bluetooth, and heated seats for $657 a month with only the madatory first month, bank fee ect... out of pocket and taxes rolled into the lease.
I think I got an excellent deal and I got the car from the mothership, the only corprate owned dealership in the country. This car is simply not selling because BMW X5 is attracting the highend buyers, and the Acura MDX, Lexus RX 350 are gobbling up market share. Additionally, all SUV sale are down thanks to Bush/Chaney/Haliburton/Exxon-Mobile raping us with the price of fuel.
My wife and I have a small child which needs lots of stuff when ever we go anywhere, plus has the huge Britex car seat, so we need an SUV, and I think that for the money, I got the best SUV available.
