Leasing

[padamson1]

There is a new lease offer for Oct 2014 up on MBUSA.
$379/mo vs $449/mo last month.
Don't want lack of EV sales to keep them from selling those AMGs!

Woo Hoo! Just a few dollars more than my LEAF! We'll see what happens when my car shows up...

 

[tomt]

It requires around $4K down though and is only 10K miles a year for three years... There is also a $600 vehicle turn in fee at the end of the lease... Not a great deal, really.

There is a new lease offer for Oct 2014 up on MBUSA.
$379/mo vs $449/mo last month.
Don't want lack of EV sales to keep them from selling those AMGs!

 

[roperld]

A Mercedes dealer in Maryland, the closest dealer to me that can handle the MBCED, has told me that I cannot lease the MBCED because I live in Virginia, but I could buy it.

 

[Ferdball]

$1500 down, $379/mo, 12,000 miles.

I think everybody does the $600 return charge.

 

[BCKator]

Compared to last month's offer and the lease quote I got on a Leaf a few months back, I think that the current offer is great.

Ferdball, those numbers are better than the national ad and better than what I've been quoted (but really need MSRP and discount to be sure).

I got a quote from my dealer on a car coming in this month and, by my calculations, the money factor is 0.00111 (2.66% APR). GORY DETAILS :: MSRP $47640, est discount $2270, $2999 down, $7500 fed tax credit, Net Cap Cost $34871, resid $22390.80, net dep $12480.20, dep fee $346.67 + finance fee $63.56/mo = $410.23/mo + taxes(8%) = $443.05/mo.

However, if I apply this to the nationally advertised lease offer from MBUSA for Oct 2014, the only way I can get the $379/mo figure is if I use a $2050 dealer discount figure (vs the $1000 "suggested dealer contribution" indicated in the lease offer text).

If I keep the dealer discount at $1000, I end up with a 0.000556(1.33%APR) money factor, ~half of what I calculated above.

So, as I see it, MB is keeping the extra $1050 discount cash hush hush or my dealer is jacking up the money factor by 2x (or I'm just confused). Is the "suggested dealer contribution" the same-as or in-addition-to the fleet discount?

I also note that the residual is exactly 47% (10kmi/yr) of MSRP but the lease end purchase price is $150 more, this in addition to the $595 loan disposition fee! I'll have to ask them about this.

If you want 15kmi/year, my assumption is that you can get it at a 45% residual.

 

[Ferdball]

MSRP for me was $48,770.

 

[BCKator]

MSRP for me was $48,770.

You must be getting a big discount, under invoice?

 

[Ferdball]

If you can calculate it, I would appreciate it. This deal seems too good to be true.

Gross cap cost: 43500.32
Cap cost reduction: 7500
Adjusted cap cost 36000.32
Residual value: 22802.20
Depreciation: 13198.12
Rent charge: 1185.32
Total monthly payments: 14383.44
Payments: 36
Base payment: 399.54
Monthly use taxes:31.96
Total monthly payment: 431.50

 

[TonyWilliams]

If you can calculate it, I would appreciate it. This deal seems too good to be true.

Gross cap cost: 43500.32
Cap cost reduction: 7500
Adjusted cap cost 36000.32
Residual value: 22802.20
Depreciation: 13198.12
Rent charge: 1185.32
Total monthly payments: 14383.44
Payments: 36
Base payment: 399.54
Monthly use taxes:31.96
Total monthly payment: 431.50

Looks legit. The money factor is almost free, so $(13198 + 1185) / 36 is $400

Yup.

 

[Ferdball]

That $400 is with the mandatory scheduled maintenance residualized in too.

But how did they get from the MSRP to the cap cost? Did they just give me $5200 off, plus the $7500?

 

[TonyWilliams]

That $400 is with the mandatory scheduled maintenance residualized in too.

But how did they get from the MSRP to the cap cost? Did they just give me $5200 off, plus the $7500?

Sure, why not?

 

[BCKator]

Note, I got lease quotes from two different dealers and both used money factors (MF) ~2x that used for the MBUSA Financial October lease offer. If you want the lower .00056 MF you have to ask for it.

 

[BCKator]

New $229/mo lease offer from MBUSA for month of Nov 2014. MF is unchanged. The difference is wrt "suggested dealer contribution resulting in a total gross capitalized cost of $41,510". The only thing that doesn't add up for me is the $20,863 purchase option. I get this if I assume a 46% residual but my calculations show that a 47% residual was used to calculate the $299/mo payment. So perhaps MBUSA is putting up some additional cash to lower the purchase price. WRT the "new" lease offer, really no different than last month as I see it except for the official acknowledgement of discounts that were already being negotiated by most of us (I hope).

 

[Electrons]

$229? Really? That's less than the mid-level LEAF! And only $30 away from the base LEAF, which is $199. That seems oddly low for a MB; those dealer incentives must really be something.

 

[Ferdball]

New $229/mo lease offer from MBUSA for month of Nov 2014. MF is unchanged. The difference is wrt "suggested dealer contribution resulting in a total gross capitalized cost of $41,510". The only thing that doesn't add up for me is the $20,863 purchase option. I get this if I assume a 46% residual but my calculations show that a 47% residual was used to calculate the $299/mo payment. So perhaps MBUSA is putting up some additional cash to lower the purchase price. WRT the "new" lease offer, really no different than last month as I see it except for the official acknowledgement of discounts that were already being negotiated by most of us (I hope).

$229 or $299? Also, is this just for one that has a sticker of $41k? Those might be hard to find.

But if I could have leased mine for $229 instead, I will be a little upset.

 

[BCKator]

Sorry! type-0 $299.
The specific numbers in the Ad only apply to that car and it's price but you should be able to get the same discounts (or more) and MF on any confirguration.

 

[Ferdball]

This is probably also for a single loss leader with 10k miles and $5k down.

 

[BCKator]

Ferdball:

As I see it, this defines the starting point for any negotiations, $735 under invoice, $3845 under MSRP, MF .00056 residual at 10k/yr of 47% of MSRP (but purchase option based on 46% of MSRP). They should be willing to offer greater dollar-amount discounts on higher-optioned cars.

 

[sendler2112]

Here is the current offer from the MB website:
.
Available only to qualified customers through Mercedes-Benz Financial Services at participating dealers through December 01, 2014. Not everyone will qualify. Advertised 36 months lease payment based on MSRP of $45,355 less the suggested dealer contribution resulting in a total gross capitalized cost of $41,510. Dealer contribution may vary and could affect your actual lease payment. Includes Destination Charge and Premium 1 Package. Excludes title, taxes, registration, license fees, insurance, dealer prep and additional options. Total monthly payments equal $10,764. Cash due at signing includes $2,999 capitalized cost reduction, $795 acquisition fee and first month's lease payment of $299. No security deposit required. Total payments equal $14,558. At lease end, lessee pays for any amounts due under the lease, any official fees and taxes related to the scheduled termination, excess wear and use plus $0.25/mile over 30,000 miles, and $595 vehicle turn-in fee. Purchase option at lease end for $20,863 plus taxes (and any other fees and charges due under the applicable lease agreement) in example shown.
.

 

[tmac]

Here is the current offer from the MB website:
.
Available only to qualified customers through Mercedes-Benz Financial Services at participating dealers through December 01, 2014. Not everyone will qualify. Advertised 36 months lease payment based on MSRP of $45,355 less the suggested dealer contribution resulting in a total gross capitalized cost of $41,510. Dealer contribution may vary and could affect your actual lease payment. Includes Destination Charge and Premium 1 Package. Excludes title, taxes, registration, license fees, insurance, dealer prep and additional options. Total monthly payments equal $10,764. Cash due at signing includes $2,999 capitalized cost reduction, $795 acquisition fee and first month's lease payment of $299. No security deposit required. Total payments equal $14,558. At lease end, lessee pays for any amounts due under the lease, any official fees and taxes related to the scheduled termination, excess wear and use plus $0.25/mile over 30,000 miles, and $595 vehicle turn-in fee. Purchase option at lease end for $20,863 plus taxes (and any other fees and charges due under the applicable lease agreement) in example shown.



.

Sounds great , I imagine devil is in the details as to how much does all that is excluded add up to? Title taxes registration, lisence fee dealer prep, etc. if that is under $50 a month that is a sweet deal .