reeff

I need some advice on whether or not this is a good deal as it seems like it is to me on the surface.

We currently have a C300 (2010) on a 3 year lease and we currently have 18 months left on the contract however the wife wants to upgrade to a ML350 as we have a little one on the way and want more room.

We have been working with our local dealer and have come up with the following to return the existing lease adn do a lease with the ML350 for 48 months.

Any thoughts?

2012 Mercedes ML350W4 Price: 48,990
Color: Black
S01 Package
Heated Steering Wheel
Brushed Aluminum Running Boards
Rear Seat Entertainment pre-wiring
SubTotal Price: 53,325
Destination & Delivery Price: 875
Total Price: 54,200

Aftermarkets:
USAA = $3000 credit
Remaining Lease Payment = 5,791
- 18 months left in C300 Lease. Above consists of 10 months and other 8 months I believe our incurred by dealer by leasing another Mercedes.
Total Monthly Payment is 784.75 incl tax for 48 months with 12K a year. Also includes a 3 year maintenance agreement. ZERO down.

Residual Value
$24,300
Your car's predicted value at lease-end.
Lease Money Factor
0.00241
The factor used to calculate the lease payment.
Purchase Option Price
$24,650
If you elect to buy the car at lease-end.

farrbar

The money factor they are using is high. The published MB rate for Nov. on ML is .00155, which translates into 3.72% interest (for top credits).

You may want them to run a 36 month lease because the residual on a 36mo (12K mil) is 59%, so that final year is costing you over 14% or $7500 in depreciation.

jtorrebl

Yeah 3 year lease deals are usually the best. I got a 30 month lease as the best rate. But was told you can likely pull it forward and get out 6-8 months early. That is currently offered to both of my parents' benzes