Lease Payments -
#1
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'16 528i MSport
Lease Payments -
So I've been quoted $1450/39 months for 12K/year with 3200 out of pocket. Its an S550 with P2, RearView, IpOd & Trunk Closer, Wood Steering Wheel.
How does this sound?
How does this sound?
#2
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By the way - I luv the quote I remmember him. Wow right? hehehe
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Thanks Chucky for the opinion. Yea, this quote in my sig is awesome. I've used it everywhere!! I'm making a t-shirt out of it. Want one?
#4
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Sounds like a good deal compared to what my local dealer wanted for a STOCK S550...
39 months / 15k miles a year / $10k down.... = $1800 a month.
39 months / 15k miles a year / $10k down.... = $1800 a month.
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1999 C280 Previous / 2008 E350
That sounds about right. I got a quote from dealership in San Jose for an S550 for 8K down, $1380mo. 12Kmiles per year, 39months lease. test driving that S-Class is so quiet and smooth ride, like flying in air.
Wow Wolverine they told you 10K down $1800!!!! I think its still too high.
Wow Wolverine they told you 10K down $1800!!!! I think its still too high.
Last edited by JRAMGV8; 04-10-2007 at 10:44 PM.
#6
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Seriously - let me know the costs - ill send u payment.
Brad
#7
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That sounds about right. I got a quote from dealership in San Jose for an S550 for 8K down, $1380mo. 12Kmiles per year, 39months lease. test driving that S-Class is so quiet and smooth ride, like flying in air.
Wow Wolverine they told you 10K down $1800!!!! I think its still too high.
Wow Wolverine they told you 10K down $1800!!!! I think its still too high.
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#9
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'16 528i MSport
I'm still looking for any one company who is willing to mass produce these. Wanna take on the task and sell it on MBworld? Lets' take this to PMs...
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Payment is a little high due to the not so low (standard) money factor but still decent....I would shoot for invoice or below but with certain options its not possible I guess.
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'16 528i MSport
I was told right off the bat before I sat down that it wouldn't be sold for invoice or under. The MF is actually the thing that hurts the payments (.038)? Can anyone explain this to me in more detail?
#12
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if you're asking about the money factor ,,, that is the interest rate charged on the lease. convert the money factor to an interest rate by multiplying the money factor by 2400. so a money factor of .0038 (not .038) translates to an interest rate for the lease of 9.12%.
the base money factor is set by mercedes benz credit and the dealer probably marks up the money factor in order to increase his profit on the deal (above and beyond the acutal money made on the car above invoice and holdback and all - topics for another discussion). this additional dealer juice is negotiable. the trick is knowing the base money factor rate that benzo credit is offering as that is not negotiable ,,, just the dealer mark up is negotiable. make sense?
there is a lot more to leasing than just the money factor but it appears you only asked about that portion of the transaction.
the base money factor is set by mercedes benz credit and the dealer probably marks up the money factor in order to increase his profit on the deal (above and beyond the acutal money made on the car above invoice and holdback and all - topics for another discussion). this additional dealer juice is negotiable. the trick is knowing the base money factor rate that benzo credit is offering as that is not negotiable ,,, just the dealer mark up is negotiable. make sense?
there is a lot more to leasing than just the money factor but it appears you only asked about that portion of the transaction.
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'16 528i MSport
Thanks AJM. That makes much more sense. So how much do you think they mark-up on the MF and how do I go about finding the MF before a possible mark-up?
#14
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yeah - you're welcome. in short, i don't know the answer to your question. i have never leased a car (always paid cash) due to the economics not panning out leasing versus buying (and not financing). always less expensive in the long run to pay cash, yeah?
anyway -- for comparative purposes -- bmw north america allows its dealers to take a MAXIMUM mark up on bmw financial services's base money factors of .0004 or .96% (just shy of 100 additonal basis points or 1%). therefore, the informed customer knows there is potentially 1% negotiating room. so that's the mark up component.
what abot the base money factor? you can usually find the monthly lease factors (they change every month) by searching the internet (google or whatnot) for money factors, residuals, etc by make. there is a site out there that breaks down by model the bmw lease components. knowing the base money factor from this site makes it very easy to make the calculation and see what your bmw dealer is taking in terms of money factor juice (his lease rate "offer" minus the base rate from the internet site), and ergo, give you a stand on which to negotiate.
i suspect that the same site might disclose the benzo lease components. but of course, for the life of me i cannot think of the site's name! i will noodle on it and come back and let you know if i think of it (unless another forum member here can come up with it in the meantime).
for what it is worth, in my opinion, a 9.12% interest rate on a lease is nothing short of legalized robbery. bmw leases (model dependent) are hovering in the 5% rate - and that is for the hottest bmw model at the moment: the 2007 335i twin-turbo coupe. benzo and their dealers are making stacks of cash off of one who leases an s550 at those 9+% rates plus whatever margin they are taking above invoice and holdback, etc on the actual "sale" of the car. then again, the s550 is hot hot hot right now and you cannot blame benzo and their dealers of striking whilst the iron is hot and making a profit. i'm just saying - being the conservative accountant that i am, i wouldn't sleep well at night knowing that i was paying 9% lease interest. shudder.
anyway -- for comparative purposes -- bmw north america allows its dealers to take a MAXIMUM mark up on bmw financial services's base money factors of .0004 or .96% (just shy of 100 additonal basis points or 1%). therefore, the informed customer knows there is potentially 1% negotiating room. so that's the mark up component.
what abot the base money factor? you can usually find the monthly lease factors (they change every month) by searching the internet (google or whatnot) for money factors, residuals, etc by make. there is a site out there that breaks down by model the bmw lease components. knowing the base money factor from this site makes it very easy to make the calculation and see what your bmw dealer is taking in terms of money factor juice (his lease rate "offer" minus the base rate from the internet site), and ergo, give you a stand on which to negotiate.
i suspect that the same site might disclose the benzo lease components. but of course, for the life of me i cannot think of the site's name! i will noodle on it and come back and let you know if i think of it (unless another forum member here can come up with it in the meantime).
for what it is worth, in my opinion, a 9.12% interest rate on a lease is nothing short of legalized robbery. bmw leases (model dependent) are hovering in the 5% rate - and that is for the hottest bmw model at the moment: the 2007 335i twin-turbo coupe. benzo and their dealers are making stacks of cash off of one who leases an s550 at those 9+% rates plus whatever margin they are taking above invoice and holdback, etc on the actual "sale" of the car. then again, the s550 is hot hot hot right now and you cannot blame benzo and their dealers of striking whilst the iron is hot and making a profit. i'm just saying - being the conservative accountant that i am, i wouldn't sleep well at night knowing that i was paying 9% lease interest. shudder.
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06 612 Scaglietti
yeah - you're welcome. in short, i don't know the answer to your question. i have never leased a car (always paid cash) due to the economics not panning out leasing versus buying (and not financing). always less expensive in the long run to pay cash, yeah?
anyway -- for comparative purposes -- bmw north america allows its dealers to take a MAXIMUM mark up on bmw financial services's base money factors of .0004 or .96% (just shy of 100 additonal basis points or 1%). therefore, the informed customer knows there is potentially 1% negotiating room. so that's the mark up component.
what abot the base money factor? you can usually find the monthly lease factors (they change every month) by searching the internet (google or whatnot) for money factors, residuals, etc by make. there is a site out there that breaks down by model the bmw lease components. knowing the base money factor from this site makes it very easy to make the calculation and see what your bmw dealer is taking in terms of money factor juice (his lease rate "offer" minus the base rate from the internet site), and ergo, give you a stand on which to negotiate.
i suspect that the same site might disclose the benzo lease components. but of course, for the life of me i cannot think of the site's name! i will noodle on it and come back and let you know if i think of it (unless another forum member here can come up with it in the meantime).
for what it is worth, in my opinion, a 9.12% interest rate on a lease is nothing short of legalized robbery. bmw leases (model dependent) are hovering in the 5% rate - and that is for the hottest bmw model at the moment: the 2007 335i twin-turbo coupe. benzo and their dealers are making stacks of cash off of one who leases an s550 at those 9+% rates plus whatever margin they are taking above invoice and holdback, etc on the actual "sale" of the car. then again, the s550 is hot hot hot right now and you cannot blame benzo and their dealers of striking whilst the iron is hot and making a profit. i'm just saying - being the conservative accountant that i am, i wouldn't sleep well at night knowing that i was paying 9% lease interest. shudder.
anyway -- for comparative purposes -- bmw north america allows its dealers to take a MAXIMUM mark up on bmw financial services's base money factors of .0004 or .96% (just shy of 100 additonal basis points or 1%). therefore, the informed customer knows there is potentially 1% negotiating room. so that's the mark up component.
what abot the base money factor? you can usually find the monthly lease factors (they change every month) by searching the internet (google or whatnot) for money factors, residuals, etc by make. there is a site out there that breaks down by model the bmw lease components. knowing the base money factor from this site makes it very easy to make the calculation and see what your bmw dealer is taking in terms of money factor juice (his lease rate "offer" minus the base rate from the internet site), and ergo, give you a stand on which to negotiate.
i suspect that the same site might disclose the benzo lease components. but of course, for the life of me i cannot think of the site's name! i will noodle on it and come back and let you know if i think of it (unless another forum member here can come up with it in the meantime).
for what it is worth, in my opinion, a 9.12% interest rate on a lease is nothing short of legalized robbery. bmw leases (model dependent) are hovering in the 5% rate - and that is for the hottest bmw model at the moment: the 2007 335i twin-turbo coupe. benzo and their dealers are making stacks of cash off of one who leases an s550 at those 9+% rates plus whatever margin they are taking above invoice and holdback, etc on the actual "sale" of the car. then again, the s550 is hot hot hot right now and you cannot blame benzo and their dealers of striking whilst the iron is hot and making a profit. i'm just saying - being the conservative accountant that i am, i wouldn't sleep well at night knowing that i was paying 9% lease interest. shudder.
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'16 528i MSport
I will have to rely on the patriarch to care of the leasing part as my negotiations skills fall short of such aspects. And for those who will want to start bashing this thread or me in general, I am not paying for this car (couldn't afford it my current salary) but am simply helping in possibly acquiring this, ergo, I will not be going around saying I am paying or I paid for it. In short, no assumptions ladies!!
#17
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"Also ajm0623, in my opinion, it is better to lease a car than to buy it if you are planning on switching it every 3-4 years."
I COULDN'T AGREE MORE, MY MAN!!!!!! if you want to switch out cars every few years, leasing makes a lot of sense over buying if the parameters are reasonable. why tie up all that good cash, which could be invested in the markets (trying to beat the interest you'd be paying on the lease)? therefore, i agree with you. see - everyone's circumstances are different -- if you acquire to keep for a long period, buying makes sense.
anyway - beat that horse - you got a really really good interest rate at 7%. you should be very happy with that -- and a good discount on the purchase price too! U R DA MAN!
I COULDN'T AGREE MORE, MY MAN!!!!!! if you want to switch out cars every few years, leasing makes a lot of sense over buying if the parameters are reasonable. why tie up all that good cash, which could be invested in the markets (trying to beat the interest you'd be paying on the lease)? therefore, i agree with you. see - everyone's circumstances are different -- if you acquire to keep for a long period, buying makes sense.
anyway - beat that horse - you got a really really good interest rate at 7%. you should be very happy with that -- and a good discount on the purchase price too! U R DA MAN!
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'16 528i MSport
06clk, HOW DID YOU MANAGE TO GET 2250 UNDER INVOICE??!!!! I have no skills compared to that. I thought I got a good one with 250 over invoice...
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06 612 Scaglietti
"Also ajm0623, in my opinion, it is better to lease a car than to buy it if you are planning on switching it every 3-4 years."
I COULDN'T AGREE MORE, MY MAN!!!!!! if you want to switch out cars every few years, leasing makes a lot of sense over buying if the parameters are reasonable. why tie up all that good cash, which could be invested in the markets (trying to beat the interest you'd be paying on the lease)? therefore, i agree with you. see - everyone's circumstances are different -- if you acquire to keep for a long period, buying makes sense.
anyway - beat that horse - you got a really really good interest rate at 7%. you should be very happy with that -- and a good discount on the purchase price too! U R DA MAN!
I COULDN'T AGREE MORE, MY MAN!!!!!! if you want to switch out cars every few years, leasing makes a lot of sense over buying if the parameters are reasonable. why tie up all that good cash, which could be invested in the markets (trying to beat the interest you'd be paying on the lease)? therefore, i agree with you. see - everyone's circumstances are different -- if you acquire to keep for a long period, buying makes sense.
anyway - beat that horse - you got a really really good interest rate at 7%. you should be very happy with that -- and a good discount on the purchase price too! U R DA MAN!
Thanks! I totally agree with you also. Buying is the best way to go if you are planning on keeping the car for a long time. Also, i personally dont agree with the "invest money into everything," i live once, and ima enjoy that time. Yes, dont go crazy, but live it like its your last. When i purchased my f355, i had no interests in buying it, but i saw it for sell, i didnt even think about it, i bought it. I obviously knew that i had the money, but i didnt think it would be better more me to invest it on something else. I invested that money in my joy. Ya, i lost $60,000 when i sold it, but i had a blast with it and thats what made that $60,000 worth it. Im actually just getting back from Angela's Crest, which is a very curvey highway in los angeles. I was tearing up the area with the 335i twin-turbo. This is what i enjoy, and im lucky i found a wife that loves it also. Were crazy!
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06 612 Scaglietti
Im going to admit it to you, im a pain in the *** when it comes to making deals. I dont think their is a dealer that likes me. Im not the type that wont leave the salesman a profit, but i know what the car is worth. I hate when i find out someone got a better deal then me, so i dont let that happen. If you dont mind me asking, what options did the car have, and what color was the ex/in? That is very important in order to get a great deal off the car. If that car has distronic or night assist, your not going to get much off of it, but if it doesnt, ill explain a few things.
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06 612 Scaglietti
Please tell us, im curious. My brother just leased a sl550 black on black with $7000 down, $1000 including tax a month. It has 10k annual mileage. I dont remember if it was a 27/39 month lease.
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'16 528i MSport
Here's the update guys. I was involved in a major car accident in our SUV saturday night and I've deemed it to be completely totaled. I'm pretty much bed-ridden with severe bruising and knee complications (didnt wear my seatbelt ). We were supposed to pick up our new S550 this Tuesday but it seems that with the SUV being out, we need a SUV more than a sedan (at least for now).
So what we've done is that we've extended our lease on the E320 for 6 more months and will be waiting on the adjuster to claim it a total loss before we go ahead and start looking at the GL450. So all in all, our S550 dreams are out for right now, but who knows what will happen in 6 months. Thanks for all of your opinions and advice.
So what we've done is that we've extended our lease on the E320 for 6 more months and will be waiting on the adjuster to claim it a total loss before we go ahead and start looking at the GL450. So all in all, our S550 dreams are out for right now, but who knows what will happen in 6 months. Thanks for all of your opinions and advice.
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'16 528i MSport
Im going to admit it to you, im a pain in the *** when it comes to making deals. I dont think their is a dealer that likes me. Im not the type that wont leave the salesman a profit, but i know what the car is worth. I hate when i find out someone got a better deal then me, so i dont let that happen. If you dont mind me asking, what options did the car have, and what color was the ex/in? That is very important in order to get a great deal off the car. If that car has distronic or night assist, your not going to get much off of it, but if it doesnt, ill explain a few things.