2024 MB EQB300, White/Tan, Virginia
Terms: 48 months, 7,500 miles/year, $681 payment
Sticker: $62,645
Final Agreed Price After Fees: $46,240, before Fees: $44,250 (29% off sticker)
Discounts: $7500 EV, $5500 Affinity BofA, $5395 Dealer Discount
Fees: $895 Doc, $1095 Acquisition Fee
Money Factor: 0.00247
Residual: 40%
No money down, no deposit. I have good credit.
Feeling a little skittish because of the residual. Thoughts?
That would be a hideous payment even on a 36m lease on a EQB.
And 48m shouldn’t even be considered unless a nice chunk below 24-36m deals.
Check the Marketplace
The duration doesn’t move the payment a lot. I just rather hold the car longer and match the warranty.
Are you saying it’s a bad deal or just a bad payment? I’m looking at the pre-negotiated deals and marketplace and it seems in line with what’s there. I prefer zero-down and just use my cash elsewhere. Thank you.
I checked Edmonds and for a 300, the had a .00207 MF and 46% residual for a 36/12k. 40% seems really low but might be a product of the term length. MF also seems to be marked up. I realize not apples to apples, but I would ask to get a better comparison
The 36 month residual is 48%. It seems like all EV residuals are in the toilet right now.
right, but what I’m saying is 36/12 puts an additional 6k miles on it, so for me it’s surprising that the residual is more than 15% lower. Could just be EVs. Following this deal though since it’s one of the cars we are considering.
Fair point. Maybe MB financial is more concerned about technology obsolescence than mileage adding wear and tear. Adding the miles makes only a tiny difference. I’d add them but I live in the city and I’d never use them.
What pre-negotiated deal are you coming this to?
No money DAS or no money down as cap cost reduction?
Well I’m looking at all the other pre-negotiated luxury EV SUV’s with MSRPs in the mid-$60k range. Volvo XC90 Recharge, Lexus RZ, the other MB EQBs. They all have payments roughly in line with what I’m looking at (~$500/month with about $3k DAS). My $681 payment includes all taxes and all fees rolled into the payment.
MSRP among different modeals and total lease cost are not always related (and are often not related).
Your EQB300 deal compared to other EQB300 deals is bad.
$500/mo w/ $3K DAS for an RZ also sounds very bad.
$500/mo w/ $3K DAS sounds very low for an XC90.
I would not consider the XC90 Recharge to be in the same class as an RZ or EQB.
Is the target price you’ve stated actually based on Marketplace and Signed deals?
First, I appreciate your input and I’m here to learn not defend a deal, so let me know if I’m missing anything.
I’m referring to a 24 EQB300 deal available in SoCal for $398/month for 36 months with $3714 DAS.
Maybe I’m communicating poorly, but if you strip out all the taxes and fees, I’m paying $577 a month. The residual and money factor are the same as the example deal (48% and 0.00247). The difference then is the $6k difference in options in my model.
My dealer fees and taxes are also higher.
I don’t see the utility in stripping out taxes and fees since those are all part of the total cost of the lease.
Posting a calculator would help.
Your pre-rebate/-incentive discount is actually 9%, not 29%.
The pre-negotiated deal in SoCal has a calculator link. The calculator shows a 16% discount off of MSRP pre-rebate/-incentive.
I assume a more highly optioned car might have less room for a discount, but I still think your deal is very poor.
Agreed - Mercedes just dumped a ton of incentives last month to clear out the 2023 EQBs. They were available for ~$250 to $350 monthlies.
I don’t think they’ve set up a decent program yet to handle 2024 model year EQB’s yet. Things may improve next month, but for now the deal economics that legaryd is getting quoted don’t seem very attractive.
The pre-negotiated deal to which OP has referred is for a 2024 model.
Again, I get that a more highly optioned model might go for a premium, but…
Too bad benz doesnt do lease transfer, would of got yourself a good deal from another member
Yikes sorry, didn’t mean to dump on a LH PND. I thought this was just what a dealer was willing to offer during a negotiation.
As @paranoidgarliclover has mentioned you compare % pre-incentive discounts.
Anything else would be to compare apples to oranges.
You don’t pay anywhere near the full value of options on a lease.
MB allowed lease transfers before Covid.
Wondering if they will allow them again…
@GOAT needs to contact Peter Henn (head of Mercedes Benz Mobility and Mercedes Financial up in Farmington Hills, MI) and tell him he’ll personally lease like 100 Benz if they’ll reinstate the lease transfer program.
Those employees were laid off or reassigned and I doubt anyone’s making a business case to reinstate the dept