Yes, thank you, I get that.
My question: is that a requirement for every lease for everybody?
or just because I was an idiot, MB (or the salesperson) just slapped it in and I fell for it and just signed it.
Based on the amount, they probably hit you for the full 150 basis points of markup. We would really need someone with netstar access to pull the full contract and terms and compare with the prevailing rates at the time.
Yes because they are essentially loaning you money through your lease. Your monthly lease payment = rent charge + depreciation + taxes.
rent charge = (adjusted cap cost + residual) * money factor
Every lease will always have some amount of rent charge. On some leases, it is significant. The dealer can mark up the rate to make it higher than necessary though.
We walked out of a deal with Mercedes on an EQB several months ago, but it wasnāt nearly as egregious as this. Still, values have come down a lot since this was signed as well. And I thought we were having some serious ouch time moments after signing a lease in November. Iām still learning from that one.
But yes Iām sure every dealer will have a rent charge. Iām sure none of them will do a free rental and just have you pay for the depreciation + tax (if any in TX?).
What are your lease cancellation provisions?
I had a lease calculator when I did our lease in November, but it wasnāt enough as I didnāt understand it. So, they still got us pretty goodā¦ (Lexus)
Right,
Iāve been reading, and all these went over my head.
So basically, this is not a scam? They didnāt fool me, just maximizing their profit?
My question is: what should I negotiated for a better deal?
Was it better lease or buy? or shouldāve just walk out of this deal?
Thanks in advance.
You probably couldāve rented one without a long-term lease commitment for less than that. 
Texas taxes are 6.25%
Hindsight is always 20/20. If I had known the EV market was going to crash like it did, I would have done a lot of things differently. We ate $17.2k on a Model X last August and another $7.8k on a Model Y.
I think the word āscamā is not technically correct here. Itās just a deal in their favor. Iāve learned dealers can almost do anything they want on a lease if they get you to sign.
The average consumer really has no chance to get a good deal from a dealer. There are so many variables, itās hard to see thru the smoke & mirrors. Then they try and get you to sign up for added coverages, like ding repair, tires, etc. It can make anyone sick.
Itās hard to say whether they scammed you or not because we donāt know what they told you to get you to sign. They definitely did maximize their profits. What was the extra $11k on top of the $155k selling price of the car?
In the future, any type of sanity check would save you. For example, youāre paying $121k over three years for a $155k MSRP car. Thatās almost 80% of MSRP. That should set alarm bells off in your head to walk away.
Iām sorry this happened to you.
This is making the deal seem even worse. Then I canāt box to the monthly without the MF getting so high it seems in violation of MBFSā rules. Revised with a .0039 MF.
I see that, thanks for the help.
So basically, it is what it isā¦
I shouldāve just walked away, and waited for the pre-owned.
Did you at least enjoy the car?
I mean before you found out how your deal stacked upā¦
In order for this to not happen again:
Step one is admitting the problem. If you didnāt what a rent charge is, you didnāt read jack.
Be honest with yourself before you get ripped off again.
And yes, this forum exists for everyone to help each other and to ask & answer questions. But that only works when (A) people help themselves by reading the material and (B) being honest about what they do and donāt know instead of any pride getting in the way.
Mf here is .00390
Maybe not tier 1?
Yes, I like it way better than the S class.
I do love the way it looks (even though many say it looked like a bar of soap).
Thatās why I wanted to keep it for at least 8 years.
But the plummeting value is making me question whether itās worth it or not to continue going this pathā¦ ;-(
Things may change, but itās hard to see a way out of this for the next 2 years. At that point, you can look at the value of a used EQS and compare it to your residual.
We wanted to buy an EQE but it wasnāt in our budget, but when they tried to sell us an EQB for what I thought an EQE would cost, we walked.
Yeah,
the plummeting EV value is panicking me here.
I signed this because I thought I want to keep it for at least 8 years, with the coverage of GAP insurance in the first few years.
Do you like the car? Does it have issues? Whatās the current payoff amount? You can probably save some money by getting a loan to buy out instead of ride this lease.
Well, youāre definitely buried in it and thereās no use throwing out good money after bad by continuing to pay a ridiculous rate on it.
Find out what the payoff is and see if itād be cheaper to buy it out. If thatās not much betterā¦.it is rainingā¦