I have a broker that I was dealing with, but he told me to look on my own because I would not find anythinh better, so I looked on my own.
Please let me know if any of these deals are good. Remember, I am over 6700 miles and I will owe 2 months. Current lease is $655/30k miles 36700. Lease end in Nov.
Looking to make a deal happen this evening or tomorrow. Please post your advise. I will really appreciate it.
Dealing with MB on my own
36/12k
MSRP $37,745
SALE $31,300
$2000 (1st month, fees etc included)
$459 lease (with tax)
I’m over mileage 6700 and owe 2 months (MB is paying the remaining 3 months)
2nd Quote (Broker)
I don’t know the MSRP etc. Was only told what’s listed below
$1500 down (1st month, fees etc included)
$479 lease (with tax)
Your negative equity (mileage and remaining payments) is adding $82.92 per month to your payment. So if you figure $459 - $82.92 = $376.08 in your negotiated monthly on a $37K MSRP vehicle, it’s a good deal. You’re at 1%. You could possibly try to negotiate further if you wanted, but that’s up to you.
Yes, 1% of MSRP is the goal for your payment, with ZERO money out of pocket. Rolling all fees into the payment. I see you’re paying fees up front… That extra $2K makes your effective payment without the negative equity $431.63 which is NOT a good deal.
You need a breakdown of the fees your paying, the Money Factor being quoted, the Residual Value at lease end, and your adjusted gross cap cost.
Just thought about something, the down payment included the first months lease. Are people getting 1% and not making their first payment until the following month?
Which other car do you have in mind?
Because I’m over mileage and have 5 months left, I thought staying with MB would have been the best option,:since there ayonf 3 months. What other ideas can you share with me please?
If you’re stuck on Mercedes you can probably find a C-Class loaner for less money, even with your negative equity. I also think that’s a better vehicle overall. If you want to switch brands Q50’s generally lease well and there’s a ton of threads here you can use to benchmark what a good deal is. Acura has thrown a lot of dealer cash at remaining 2018 TLX’s and depending on trim level you can get a good deal there as well.
Yes, switching brands may give you a better payment even with your negative equity. There are many variables in play when it comes to getting a good deal; from dealer inventory, residual value, customer cash, dealer cash, money factor, and timing. As a result some cars simply lease better than others. Search the forums for Audi and you’ll see very few deals that are considered hackr worthy whereas if you search “C300 Loaner” (there’s even a Wiki put together for BMW & Mercedes loaners) you’ll have a ton of deals to use as a benchmark. The CLA simply isn’t a desirable car and to pay that much, even with the negative equity removed from the equation, isn’t something I would personally recommend when there are far better deals to be had on more refined cars within the same brand.
Thanks, I am going to search online and contact some dealers by email and see what I can get. I just contacted Acura and Infiniti… I will check Audi as well.
The c300 was coming out to 525 and I don’t want to spend that much on a car for the next three years. I am paying 655 now and I want to get much lower. Hopefully, it will work out for me.
WOW!!! with my negative equity, I would be under $300!!! Im going to call all the MB in my local area minus the one that my Broker was using, and see what I can get. The one I went to yesterday wanted to give me the loaner for $539/36 and $505/48 and it did even have black seats, that I wanted… This post gave me hope…
The person from Acura called me and said he could get me in the ILX for mid 300s and TLX for mid 400’s.
The 1% rule is something that someone came up with and people, not just on LH, treat like it’s gospel. The fact of the matter is there will always be vehicles that won’t meet that “rule” due to the variables that include but aren’t always limited to what I mentioned I mentioned above and there are others (see some of the deals posted here by resident broker/dealers or the link I posted) that trend around .5%. In fact many of the best deals posted here by members or broker/dealers handily beat the 1% rule that so many people use as their benchmark of what constitutes a solid deal.
Why is it like pulling teeth to get the numbers I want. Its like no one wants to disclose the MF, residual value and adjusted gross cap after giving me an estimated or direct payment. This makes me weary. Why do I have to come in to get those numbers?
