Hi all, saw a great deal posted in Signed by @Sliveralfa and that served as my inspiration. Checked against broker deals in the NE and shippable areas to see where I should be on a loaner and pushed a bit further than that.
Once again though, some strangeness with the dealer that I’ll point out for anyone’s sake. After doing the usual rounds and getting nothing from about 11 dealers I finally received a counter. Their original counter to my pre-dealer cash offer of 21% at base MF, was 17.6%. This made for a payment of $521/month. I told them $475/month makes a deal, and they came back with an updated sheet showing $489 & $489 DAS with a dealer discount of 18.4% (or $15,620 total with dealer cash). I confirmed numbers in my own sheet below. We accepted this offer.
Final contract (brother in law was implored not to sign until I reviewed the contract, didn’t listen) shows the original terms that were offered to us at $521/month, but with a slightly lower residual, and an expected increase in the registration fees. To meet the agreed upon $489/month, the contract was written with a $1,366.68 DAS, but they only collected the $489 up front as agreed. Anyone else ever seen this as opposed to properly adjusting the discount?
Lastly, and this part is still up in the air as I await a response, they wrote mileage overage fees beginning at 20,000 miles. This is a loaner with 4,300 miles and a 24/10k deal with an adjusted residual to account for those miles. The contract should be showing overage at 24,300 miles.
Edit: Confirmed contract mileage is correct. Thank you @Zenek. Also just want to mention my details in the Signed section have the wrong term of 39 months, so the MF is showing incorrectly. Submitted a fix but who knows if that will ever update. Working a GLB loaner at the moment and had 39 months on the brain .
I would want the mileage on the contract corrected, but don’t see an issue with them contracting with a higher DAS but not collecting (as long as you net out to the agreed upon deal). Whether they show more of a discount but contract it correctly versus doing it the way they did should make no difference to you. I’ve seen dealers do things like this to get around contract funding issues. In this case, who knows – maybe they have some sort of business reason from an accounting / profit center standpoint.
Thanks very much. I was thinking along those lines and my BIL couldn’t be happier, so no harm no foul is how I was looking at it. Definitely asking for a mileage correction.
I looked at the contract. Everything is correct regarding the 20k miles allowance.
On the first page should be actual ODO milage at the time of delivery.
Oh crap you’re right! I would have sworn my EQS contract showed the additional loaner mileage, but it doesn’t. It’s only viewable in my MB lease account showing the expected mileage at maturity. Thank you for sparing me a long discussion where I end up looking foolish.
Maybe it depends on each manufacturer’s lease contract, but I’ve always seen demo mileage added to the excess mileage clause (in addition to being in the top section). But as long as mileage is included at the top, hopefully should be no issues.
That was my expectation, but after just reviewing my own EQS contract and a loaner EQB contract that I did for a friend, I do think MB shows only the added lease mileage in that section.
That line is saying about 20k miles allowance for the duration of the lease. Not a single car has 0 miles on ODO at the time of delivery. Some contracts indicate the mileage allowane per year.
Thank you! MB is definitely not making it easy to decipher how it all goes down with these fleet incentives. I think the brokers are kind of stuck… if they advertise according to Leasehackr customs, they will seemingly show very poorly next to the brokers that are incorporating this dealer cash into their discounts. I think maybe an up front “our discounts include all available dealer cash” or something along those lines would help with transparency. And I think some brokers are doing that to some degree.
We did not, but that’s a great call out. I just noticed there’s $7,000 in dealer cash on those! Didn’t notice too many C43 loaners while searching so not sure how deep of a discount is possible, but with the right car and a motivated dealer someone could have a gem on their hands.
Edit: Also apologies for being a little sour in the other thread. I should have been more gracious about the misunderstanding.
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