I went into the dealer and saw a loaded msrp $81,635 GLE Coupe for sale in black. I want to lease this vehicle and I was wondering if you guys know what would be the best way to tackle the leasing terms for this (Money Factor, Residual, etc). I know people say use the 1% rule for leases but just trying to figure it out.
I am putting down 10 Multiple Security Deposits as well (Benz allows it). I am paying sales tax for NJ upfront and any fee’s which come out to about $5800 all together and the rest will be MSD’s when we figure out what the percent off the MSRP will ultimately be.
10k miles per year
0 Downpayment
Really looking to lock in this deal with the car this week as I am in love with it.
Honestly, you pay what you want to pay. If you believe the car is worth 81K, that’s what you should pay.
However,
Hello There:
This is a generic copy + paste answer to your question about how I can get a better deal.
SELL PRICE SELL PRICE SELL PRICE.
Remember that dealers make money based on the following. (Sell price + Incentives + Holdback (look it up for each car sold the dealer gets around 2% MSRP) + Volume Discount (secret ask someone on the inside)) - (INVOICE). Check out the wiki for sites on what other people have paid including NADAguides. Again, that’s (Sell price + Incentives + Holdback + Volume Discount) - (INVOICE)= Profit.
Which sites do you use to do research? (Updated 07/22/17) [Library]
INCENTIVES
These are programs made by corporate to give to dealers so they have more room to discount cars. Autobytel has lists for each make and model. However, make sure you are eligible before barging into the dealer demanding the moon. DO not let the dealer factor this into the sell price discount. They get reimbursed for incentives.
MONEY FACTOR
This is the bank’s profit, or in other words, interest. Go to edmunds (again info on wiki) to find the BASE MF for your vehicle. Dealers will sometimes mark up the interest and pocket the difference. This is where Edmunds comes in. Don’t get got.
MSDs.
Many carmakers allow REFUNDABLE MSD (multiple security deposits) to lower your MF aka interest. MSDs are simply monthly payments paid up at the beginning of the lease and refunded at the end of the lease. No questions asked even if the car is totaled (assuming insurance pays off the rest of the lease).
Fees
Look up the lease acquisition fee for your brand and other user’s average standard doc fees. Acquistions fees may be marked up so for example: MB’s base acquisition fee is $795. Many dealers mark this up to $1095 which you then have to call them out on.
In terms of doc fees, for example NJ is usually ~$499 and Florida can get up to ~$1000. Remember doc fees are sometimes the finance manager’s cut so they can be negotiable. However, lease acquisition costs are usually not, but why not ask?
Get the MF and RV from Edmunds forums but forget about any 1% rule. Most cars that are in demand (luxury SUVs) and cars that are emotional decisions (coupes) do not lease well, and the GLE coupe is both.
Appreciate that. Yeah this car is in demand a bit and its a coupe. Ive tried to work every way around it even with MSD’s and its just a head scratch. The RV is killing me.
