I’m new to the Leasehackr community and wanted to express my gratitude to all of you for sharing valuable insights.
I’ve found a loaner EQE 350 vehicle and have agreed on a selling price of $58,500 after applying the $5,000 Amex Fleet incentive. However, the monthly payment I received is significantly higher than I expected. I was anticipating a payment between $440 to $460 based on a money factor of 0.00171 and a residual of 53%, along with a $7,500 EV bonus. The dealer assured me that I would receive an additional $7,500 bonus when leasing.
Upon receiving the lease quote, I noticed the money factor was set at 0.00211 and the residual was around 52%. I’ve already requested the dealer to provide a new quote using my proposed money factor of 0.00171 and a 53% residual. Please see the details below and kindly advise on what steps I should take next.
It might be too late but it’s a complete waste of time getting into the weeds with the sales rep about the MF.
Just tell the dealer you will sign today if they can get to $X payment with $Y DAS (whatever your target deal is).
Who cares if the dealer wants to mark up the MF as long as they are offering a discount to get to your target. Let them decide how they want to make their money.
I would go with MSDs or one pay if You are planning to go with 24 months lease. If memory serves one pay lease will reduce the MF by 0.0004 to the base rate.
I’ve been shopping EQE’s pretty heavily the last few days - the best deal I’ve had come across was 616/mo w/1st DAS including my 7% sales tax. That was around 27k off MSRP including AMEX - and they marked up the rate. What you have posted is a pretty good deal comparatively.
If you can get a dealer to do 30k~ off a higher MSRP EQE it’s actually a substantially better deal though. Working now trying to get a 93k~ MSRP to 650 w/ 1500 DAS and think I’m pretty close to getting it done.
What I posted is consistent with the OP’s dealer worksheet EXCEPT I used a MF = .00171 instead of the dealer’s .00211. Looks like OP got 14400 off the adjusted MSRP or about a 18.5% dealer discount (excludes 5000 AMEX incentive). Could do better.
