The 5k down covers everything so sign and drive essentially.
Do you have a breakdown. Would be good to see to make sure they are not hiding anything in there.
I would also want to be sure you really have 5k in negative equity. That is a huge discount and it makes me wonder if they arenāt jamming you on the trade.
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I believe USAA has a $2000 cert for this car
Itās a 2009 Subaru Impreza with 74k miles and side damage. I Kelly blue booked it and it seems fair.
You guys think I got a good price?
I want to thank @Ed_Churchward and @Jason_B you guys really helped me do this strategically. I havenāt driven off with it yet so let me know if I should prcoeeed 100%ā¦thanks!
If the trade is fair, the discount is certainly acceptable. 16% is as good as it will get on a current model year Mercedes. I would run the numbers but I would probably capitalize the negative trade equity and make the capitalized cost 46,325, and use the cash at signing for the maximum multiple security deposits (10). My guess is it will save you a decent amount over the course of the lease. Just run the calculator (leaving fees out for now) with lower cap figure and no MSDs and calculate total of monthly payments, and then run with the 5k higher cap figure and 10 MSDs, Iām guessing you would spend a good bit less.
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I quickly ran it and it looks like about $1,500 in savings if you cap the nte and use MSDs.
Iām tired @Jason_B. Just wanted to ensure I wasnāt getting āripped offā like I did with my last lease. Iāve spoken with 10-11 dealers and narrowed down to two and here we are lol
Totally get it. In sum, discount is great, sounds like you are getting base money factor. If you can verify the items I donāt have access to (fees are fair, trade value is fair) and you are comfortable putting down $5,000, then you are good to go. My recommendation regarding the MSDs as a better use of cash is one to consider as it doesnāt change the deal, but would reduce total cost of lease. Dealer shouldnāt care. Let us know when you close the deal.
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I love you man! Youāve been so helpful and I hope you live long and prosper.
Happy to help. Get it done and enjoy your new car. The current generation of Mercedes are great cars.
Numbers check out. Acquisition fee is marked up $300 from base fee of $795, but considering the discount not a big deal. You got a good deal on the Mercedes, canāt evaluate the trade and negative equity. Enjoy the new ride.
If I look at it correctly, without $5000 negative equity and $300 inflation for acq feesā¦ This deal is $390 a month for a car with almost $50000 msrpā¦
Is that correct @Jason_B
Also, it is like a cartel in CA with the Merc dealers. They all mark it up to the same point and refuse to budge. Brokers seem to be able to avoid it.
I believe so, which leads me to believe they have a good deal of profit in the trade. But from what the information the OP gave us, I think it is a reasonable deal.
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Maybe they did make 1-2k profit, but the car I traded had rear panel diamage and was in pretty bad shape. Kelly blue booked it at fair trade the same. Also, just glad I donāt have to deal with it anymore. You made me feel warm and fuzzy @Jason_B now Iām jut feeling warm not fuzzy lol
You should feel warm and fuzzy. Great car and solid deal.