Am i getting ripped off on lease terms ...
#1
Am i getting ripped off on lease terms ...
Dealer (California) quoted me roughly $2,930/month incl taxes on a 36 month, 7,500 miles/yr lease. He was using a 58% residual and a money factor equating to almost 11% (shocking!!). This included $5,100 down (basically first month + 2,200 tags, fees etc.
I pushed and got him down to about a 9.5% int rate or about $110/month less. Still seems like very expensive financing though ......
Any views/info??
I pushed and got him down to about a 9.5% int rate or about $110/month less. Still seems like very expensive financing though ......
Any views/info??
#5
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2020 GTR Roadster, 2020 GT63S
Dealer (California) quoted me roughly $2,930/month incl taxes on a 36 month, 7,500 miles/yr lease. He was using a 58% residual and a money factor equating to almost 11% (shocking!!). This included $5,100 down (basically first month + 2,200 tags, fees etc.
I pushed and got him down to about a 9.5% int rate or about $110/month less. Still seems like very expensive financing though ......
Any views/info??
I pushed and got him down to about a 9.5% int rate or about $110/month less. Still seems like very expensive financing though ......
Any views/info??
It seems to me that you are getting ripped.
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#7
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Dealer (California) quoted me roughly $2,930/month incl taxes on a 36 month, 7,500 miles/yr lease. He was using a 58% residual and a money factor equating to almost 11% (shocking!!). This included $5,100 down (basically first month + 2,200 tags, fees etc.
I pushed and got him down to about a 9.5% int rate or about $110/month less. Still seems like very expensive financing though ......
Any views/info??
I pushed and got him down to about a 9.5% int rate or about $110/month less. Still seems like very expensive financing though ......
Any views/info??
Ask MB owners in your area which dealers and salesguys they would recommend....in my expce, better/more honest dealers/salesguys have a deep base of savvy, repeat customers.....Darwinian selection perhaps?
S63 should be discounted, even in CA.....mkt is very soft...
Don't want to put money down on lease; mf roughly .00395; resid about 56% (vague recall from CL63 for 36 mos); get 7500mi/yr (price cost of extra miles vs pre-pay miles cost vs fact mileage is irrelevant if early-terminate lease); consider term of lease vs sales tx costs (each state calcs sales tx vs leases differently).....and how long really plan to drive car (vs early-termination implications)....
Also consider opportunity cost of one's capital vs tying it up in rapidly depreciating car; and consider leased cars have risk advantage over owned cars of lease-gap insurance.....
Less than honest dealers like fact that most customers don't understand basic lease arithmetic/logic, so very profitable transaction for dealer
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Good luck; obviously, carefully diligence any other "deals" from this/any other dealer before signing the paperwork.....
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#10
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OO7 CLS63///G55TANK ///S80-T6///R1///R6
Also that sticker is too high for a S63, Is there a mark-up. or does the car have any aftermarket mods on it that they are charging you triple the price for.
#12
They aren't ripping you off, per se. If the dealer is quoting MB Financial lease rates(make sure you see with your own eyes the money factor and residual) and you're 700+ credit, he's not ripping you off. X65 and X63 models are notorious for depreciation and the money factor and residuals reflect it.
Just make sure you're not paying more than MSRP for the car. If the dealer is trying to add in points on the money factor for himself, then just leave and find another dealer.
MB Financial has set rates that are published.
Just make sure you're not paying more than MSRP for the car. If the dealer is trying to add in points on the money factor for himself, then just leave and find another dealer.
MB Financial has set rates that are published.
#13
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2008 S63
my sticker for an 08 S63 w 030 package, pano, rear seat package, distronic plus and premium 3 was $146,165. all factory installed equipment and no mark up beyond MSRP. you can add more factory options as well.
#14
My car similar to Noxxin but no rear seat package (baby seats in back) and no Distronic (wouldn't use it)
I pressed my dealer ..... lease terms went from 2,930/month for 36 months (first payment down) to $2,740. Given the $6500 difference in payments, i'm pretty pissed that they would try to scalp me like that
I pressed my dealer ..... lease terms went from 2,930/month for 36 months (first payment down) to $2,740. Given the $6500 difference in payments, i'm pretty pissed that they would try to scalp me like that
#15
Seriously, just walk away. They assumed your were some kind of whale they could swindle.
The dealer has to fully disclose everything, MSRP, money factor, and residuals. If they are not and the numbers seem to be off, walk away.
The dealer has to fully disclose everything, MSRP, money factor, and residuals. If they are not and the numbers seem to be off, walk away.
#16
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OO7 CLS63///G55TANK ///S80-T6///R1///R6
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#17
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2010 S600 sold
#18
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2008 S63
I guess I under estimated the price tag on those beasts but I didnt expect them to go so high into 65 territory. But you seem to have the whole deal and then some
. BTW, Saw a car with your same exact set up on ventura and winnetka yesterday, Thought it was you then I realized it was only a 550.![action](https://mbworld.org/forums/images/smilies/action1.gif)
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