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Discussion Starter · #1 ·
I asked for a least quote for an Edition 1 with MSRP of $41,825. For 12,000 miles/year I got a quote of $545.06/month with $2000 due at signing and residual value of $27,604. For 10,000 miles/year it is $532.95/month and $28,022.75 residual. The monthly payments includes all taxes and fees. I've never leased a car before so I don't know what's involved but the monthly payments seem high to me.What do you guys think who are familiar with leasing all it's terms and fees? I also got the entire quote worksheet but it is very confusing.
 

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Discussion Starter · #3 · (Edited)
Here's what I got. I hope the formatting doesn't make it confusing: NJ sales tax is 7%.

Deal Number: 154156---------------------- 16) Annual Mi Driven: 12,000
1) Contract Date: 09/30/13 ----------------17) Annual Mi Limit: 12,000
2) Next Payment Date: 11/01/13 ---------18) Mileage Penalty:
3) Lease Institution: MBCCL -------------19) Mileage Adjustment:
------------------------------------------------------20) Money Factor: 0.00162
4) Stock Number: -----------------------------21) Term In Months: 36
5) Initial Cap Cost: $ 41,825.00 -----------22) M.S.R.P.: $ 41,825.00
6) Aftersale (W): ------------------------------23) Aftersale (W):
7) Capped Acq Fee 995: ----------------------24) Residual %: 67.00%
8) Serv Contract (W): ------------------------25) Residual $: $ 28,022.75
9) Cash Cap Reduction: $ 12.97 -------------------Base Payment: $ 532.95
10) Maintenance: ------------------------------26) ***MONTHLY PAYMENT***: $ 532.95
11) Total Trade Allow: -----------------------27) Amount Due At Start: $ 2,000.00
AdjCapCost-CL/AH: $ 43,063.29 ---------28) Security Deposit:
12) Buyer Residence Info: ------------------29) Tit/Acq/Doc/Ser(W): $ 1,044.00
13) One Pay(Y/N)/Amt: N -------------------30) License/Reg (W): $ 329.50
14) One Pay (MBCC): ------------------------31) Deposit: $ 2,000.00
15) Taxes (W): $ 1,331.84 ------------------32) CashUse/Surplus(W):
 
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It seems pretty standard. The only thing I can really see is the 995 acquisition fee. The national advertised acquistion fee is 795, but the dealer i went to here in cali charged 1095 because it was their dealership standard due to their overhead costs. Maybe it's BS, maybe not. But I wouldn't turn down the deal for it. Maybe you could ask for a couple freebies. Like those AMG door pins, since the plastic ones aren't the best.
 

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Oh the other thing is that it looks like the quote sheet you posted is for 10,000 miles a year but it says 12,000. I'm assuming it's a typo. Because the correct reisual of 67% was used for 10,000/yr.
 

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Discussion Starter · #6 ·
Oh the other thing is that it looks like the quote sheet you posted is for 10,000 miles a year but it says 12,000. I'm assuming it's a typo. Because the correct reisual of 67% was used for 10,000/yr.
Yes, it's a typo. It is suppose to be 10,000 miles. So they use MSRP for their calculation. It is typical to negotiate the price down a bit to bring down the Cap Cost?
 

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You can try. I got mine right when they were released last weekend so they weren't giving discounts. It's probably still too new to get any, plus it's an edition 1. But I don't think it ever hurts to try. The dealership i went to even tried to charge me a .003 money factor because it was an edition 1. ridiculous and insulting, when I very well knew the money factor should be .00162.
 

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Discussion Starter · #8 ·
You can try. I got mine right when they were released last weekend so they weren't giving discounts. It's probably still too new to get any, plus it's an edition 1. But I don't think it ever hurts to try. The dealership i went to even tried to charge me a .003 money factor because it was an edition 1. ridiculous and insulting, when I very well knew the money factor should be .00162.
Great, Eddie. Thanks so much for the explanation. The Acquisition Fee seem BS to me. They're already making money from the MSRP. Adding the Acq fee is just pure icing.
 

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Discussion Starter · #10 ·

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In Canada, the MSRP for the E1 is $43,200. A 36 month lease at 4.9% with 18,000 KM per year mileage allowance and $3,000 out the door initial cost will be $$775.57 per month plus taxes. Residual is $26,413.00. This is $230 per month more in Canada for the same car! Crazy...

BTW, can someone explain what the money factor is to me?
 

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Discussion Starter · #12 ·
A different local MB dealer has the following lease offer:
$329/month for 36 months and 10,000 miles/year. MSRP is $33,935. Residual value $22,730. $2,499 down, $3,623 due at signing. Tax not included in the monthly payments. This looks pretty good to me but what do I know. What do you guys think?
 

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leasing update

A different local MB dealer has the following lease offer:
$329/month for 36 months and 10,000 miles/year. MSRP is $33,935. Residual value $22,730. $2,499 down, $3,623 due at signing. Tax not included in the monthly payments. This looks pretty good to me but what do I know. What do you guys think?
Hey Tony, I am also thinking about lease E1 in the tristate area. Have you ordered your car yet? would you mind share package and pricing info? Thanks.
 

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Discussion Starter · #14 ·
Hey Tony, I am also thinking about lease E1 in the tristate area. Have you ordered your car yet? would you mind share package and pricing info? Thanks.
I ended up not leasing at all. I was too late and all the E1s in my area were sold and since it is limited edition, you can't order it so I ended up buying one in Night Black with Premium, Multimedia, and Sport packages along with Panorama roof and Bi-Xenon lights. MSRP is $40,020.
 

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Discussion Starter · #16 ·

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Seems a bit high. I negotiated an effective rate of $444 a month for 36months/10K per year on an E1. This is based on a one pay (upfront) lease which includes taxes, acquisition, titling, docs, etc. plus illuminated star installed, 2 year maintenance, black wheel caps, and mounting/balancing of winter tires.

BTW, when you do a one pay lease you are effectively only financing the depreciated value of the car as you pay for the depreciation up front. The MF on a prepay is 0.00082 which is 80 basis points less than the 0.00162 rate used on the monthly pay 36 month promotion.
 

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Discussion Starter · #19 ·
Oh sorry, I thought you were financing it. So you just bought it out right? Must be nice :)
No, I didn't buy it out right. I did finance it but the monthly payment varies by the length of your loan, amount of your down payment, and the interest rate you're able to get based on your credit score so each person will have a different monthly payment amount. Just because I got one rate doesn't mean you'll get the same rate.
 

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No, I didn't buy it out right. I did finance it but the monthly payment varies by the length of your loan, amount of your down payment, and the interest rate you're able to get based on your credit score so each person will have a different monthly payment amount. Just because I got one rate doesn't mean you'll get the same rate.
Well said. When I spoke with the finance manager at the dealership where I secured my car he said the same thing. The CLA is bringing in all kinds, which is unusual for traditional MB purchasers with higher and more established credit. And in some cases have a history with MB Finance. The newer buyers have greater financial variability and is throwing off the MB Finance universe.
 
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