Hi guys,
What do you think about this lease. It’s a 2016 loaner vehicle with 5000 miles. CPO. Dealer says it qualifies for lease. Breakdown below
MSRP $51000
Selling price $41200
MF .00094 (not including msds and auto pay)
Residual 54%
Total drive off (includes 10 msds and title reg etc) $5900
Monthly payments including tax $468
This is based on the dealers asking price. I have not done any negotiations yet. Car located in CA
What do you think?
Thanks!
Seems pretty rough for a demo. You are going to need a much larger discount to make it make sense.
NO! That residual absolutely sucks, I am assuming that is because of the 5k miles on the vehicle. Plus the selling price is not discounted enough for a loaner. I recently leased a new 2017 C300 with sport and P3, MSRP 54k for 375/month with 750 drive-off and 10 MSDs.
Have to agree with cooldoc. That residual is a problem, although I’m not sure how much more of a discount you can squeeze out of the dealer on the selling price. I would definitely try to get another few grand off if you can. Remember, you’ve got the money - you have the negotiating power.
Thanks guys.
So the best offer I could get from the dealer is follows
MSRP 51905
Selling price 40381
Residual 54%
MF .00021 (includes 10 msds and auto pay)
414/month
Drive off around $5500
They stopped the price a little more but marked up the MF from .00014 to .00021. doesn’t make too much of a difference on monthly payment.
That’s the lowest monthly I’ve been able to get on either a 2016 or 2017 with sport pack premium 2 pack, multimedia and night pack
Sorry, had the MSRP wrong in the first post
Also, this is for a 36/15k
As there are no incentives available on this car and you did pretty much everything to get the lowest payment possible, only thing left is fruther negotiating the selling price down. try finding comparable cars off websites and talk to other dealers and get a negotiated quote and get your dealer to match that and lessen the selling price by another 1-2k. Another 2-3 hrs work may save you 1 or 2k. Ex. https://www.cars.com/vehicledetail/detail/692674854/overview/
Sonic price is 1.2k less for a 1.5k mile vehicle with all the big retail chain one price profit and overhead included. Your local dealer may give you more discount if you can bring him quotes to challenge his price.
Also, ask them to throw in the pre-paid maintenance package for free after you have negotiated the selling price down further. Also, did you check the pricing on a similarly packaged 2017 model?
Considering it is a 15k lease, this is not that bad of a deal. Like others have said, you have done everything.
Just make sure that the March numbers are still the same.
It certainly passes the “nobody is going to post a deal $100 per month cheaper on the same car” test. I agree that you may want to try for a little more, but this isn’t one you are going to deeply regret a year from now.
Thanks for all your help guys. I signed the lease a couple of days a go. 418/month. This is my first Merc. Have always had BMW. Quite a change. Hopefully the car grows on me 
Dealer agreed to throw in a gloss black painted rear spoiler and install it free of charge.
Will post pic of the car soon.
Nice job on a great looking car! Sport has the metal pedals – will look nicer that the black rubber ones that look like crap after 2 days
Congrats! Welcome to the family, i have the same car! Love the interiors!