Deal Check: Mercedes GLS 450 2020

Ask the Hackrs
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1

I know this is generally for leases but I’m wondering if anyone can tell me if this is a good discount on a new MB.

MSRP: $83,400 + $995 D&D
Purchase price: $75,000

Is there any other information I should/can provide?

2

What incentives are you qualifying for?

Are you financing the purchase?

3

I am planning to finance and I am eligible for fleet discount of $500.

4

Then provide info as to your finance rate, and monthly payment.

5

Sorry, I actually don’t have that yet. I’ve been negotiating with dealer over e-mail and I’m supposed to go in at some point to sign. I want to get a sense of how this deal is before I meet with the salesperson.

The finance rate that is being promoted on the site is 2.99% for 60 months.

6

First things first - you can do everything over email.

I would also explore other options for financing. See if you are approved for a lower rate at your credit union, bank, or somewhere else. Do this before you are ready to proceed

7

Never ever ever talk to the dealer until after you know exactly what the vehicle should cost. Talking to the dealer is for finding someone to do your deal, not to find what the vehicle should cost.

Back off from your conversations with the dealer until you have done more research.

1 Like
8

Ok, understood.

I will finalize all details first. I think I was leaving it open because I also have a trade-in that I was going to discuss at the dealership. Is that something I can negotiate via email too?

9

Dealers tend to be much more hesitant to discuss trades over email. Some will, many won’t. Normally, I’d say be sure to have quotes from carvana, shift, vroom, etc as reference points on your trade, but that’s not so helpful these days.

I’d try to leverage the current health situation as much as possible in talking trade details. I’d also fully negotiate the new vehicle before talking about the trade. Keep them as separate transactions for the most transparency.

1 Like
10

Look into financing with BofA if you have a business account. You might get a better rate plus many thousands (up to $7K) off depending on program

11

Have you checked to see if there are other rebates/incentives for financing this month?

12

Yea there’s nothing for this month. I’m waiting for May to finalize just in case anything comes up.

1 Like
13

Back with the details:

  • MSRP: $83,400 + $995 D&D
  • Purchase price: $75,500 + $65 DMV fee + $10 smog fee + $12.50 tire fee - $500 fleet incentive - $13,500 trade-in + taxes
  • 60 months finance at 1.99%

This is where it gets tricky - I negotiated a price of 75K with the salesperson and thought the fleet incentive would be deducted from this amount. However, they are now telling me the agreed upon 75K includes the fleet incentive.

Carvana also gave me a buy now price of $13,979 for my trade-in. I was willing to accept the dealer appraisal of $13,500 based on my understanding that I would have a fleet incentive of $500. Now I think I should try to negotiate for a trade-in of at least $13,750.

How is this deal as it stands and what should my next move be?

14

did you end up going with this deal?

15

Yes, bought my car this past weekend.

Final deal:

  • MSRP: $83,400 + $995 D&D
  • Purchase price: $75,500 + $65 DMV fee + $10 smog fee + $12.50 tire fee + $75 dealer doc fee - $500 fleet incentive - $14,000 trade-in + taxes
  • 60 months finance at 1.99%
  • $750 first payment credit

I was able to negotiate my trade in up by $500 which was more beneficial in the end since I saved on taxes. Overall, I got about 12% off MSRP.