I’m located in socal (zip is 91709) and I just got a pull ahead offer from MBUSA for my EQS 450+ sedan. I’m considering leasing a new 2024 EQS SUV and have been running a few scenarios. I also did some digging regarding incentives and the lease numbers i’m coming up with seem beyond attractive. With that said, these are the incentives I believe I should be getting:
$7500 EV lease credit
$5000 Loyalty
$10,000 Dealer cash
The deal I punched into the calculator is the following:
MSRP: $109,195
Sales Price: $89,540 (I plan to ask for an 18% discount off the MSRP) Lease terms I’m looking for:
Months: 36
Miles Per Year: 12,000
Residual: 52% or $56,781 - Got this from edmunds
Money Factor: .00056 - Got this from edmunds
My Tax Rate: 7.75%
Taxed/Untaxed incentives: $22,500 (the payment did not change when enter as taxed or untaxed incentives. Only the down payment changed)
Pre-Tax Monthly Payment: $384
Monthly Payment (incl tax): $414
Due at signing: $1271
Am I missing something? Am I utlizing the calculator correctly? Is the 18% off the MSRP asking too much from the dealer? The link to the calculator is below. Any feedback or insight would be greatly appreciated. Thanks!
If you’re willing to go sedan again, there’s much more dealer cash on those. Remember the dealer cash is untaxed when you calculate your deal, don’t allow them extra padding.
18% is absolutely doable on a new unit with some effort, you can probably go further on a loaner.
Edit: Also be sure to play with the term. At a certain discount level, 24 months becomes much cheaper than 36.
Thanks for the input and validating that I was not crazy. I also did try adjusting the term to 24 months with the current discount and the monthly payment went up a bit, hence the reason I went with 36 months. Lastly I was looking at a loaner but unfortunately it was sold.
18% off a 450+ sedan for 24/7.5k at your tax rate is $304 with $304 due at signing (assuming $500 doc, $500 govt fees). Now that would be a pretty sweet deal
I definately have the star loyalty incentitive. I just got the email from MBUSA this week. I honestly think the dealers are not forthcoming regarding all of the incentives.I’ve asked several times about them and they seem to avoid discussing them. I’m not sure why though…
I’m just saying from experience, and do not get me wrong, but i think you will waste a lot of time dealing directly with the dealers.
I would hire a broker from this forum and have one headache out of the list.
Agreed. The deals here can make it seem like you just send an email and get 18% off a new EQS, which is rarely the case.
It really depends on a person’s deal hunting prowess. If you can iterate on 10-12 unique offers within an hour in one evening, it’s worth it to do on your own. If you’re just finding your footing with this whole game, broker is the way.
I recommend you reach out to broker referenced by @Zenek. I did last week and they were great, responsive, fast - but their deals only work for California registration and I couldn’t do that. Otherwise, I would have got my new Benz from them.
I’m familiar with leasing and having to hunt for a deal. I did reach out to a broker and they asked me to text them back. Perhaps its time to see if that can work some magic.
You can go to the marketplace section and see what they offer. Also, each broker has a review page with customers feedback.
Keep in mind that 24 MY EQS inventory is getting slim. You need to be flexible on color and features.
Good luck.
I wanted to report back to you guys. First I have to give kudos to the dealer for giving me a 20% discount off the car. The dealer also verified I have the following incentives:
Dealer cash: $10K
Star Loyalty: $5K
EV Incentive: $7.5K
However, I got a lease proposal back from the dealer and it doesn’t compute. In addition, they added some aftermarket nonsense that I haven’t addressed. Also the residual value seems off. Edmunds states the residual should be 52% but they have it 47%. Based off the calculator, my payment should be $471 per month. Below is a link to the calculator and the deal they proposed. Any thoughts or insight would be appreciated!
There’s a difference between pre-incentive discount and discount with incentives rolled in. You can see from the note at the top that they’re baking the dealer cash in to get you to 20%. Your calculator has 22,500 in untaxed incentives on top of 20% off – they have $0 in untaxed incentives.
On the residual discrepancy vs. Edmunds – you’re sure you’re looking at the same car / term / mileage? Is this a loaner?
