Newbie to leasing - have been through the site and understand (some of) it. I am looking to lease a Audi A4/ Mercedes C300 or BMW 328. from what i understood they are all comparable in drive/ cost. need AWD option for either of the cars. am open to 24 months or 36 months based on the best bang for the buck. Additional Options are not critical but am trying to keep my OOP expenses to less than $350 incl. tax with $0 down. prefer brand new (trying to avoid pre-driven vehicles - but am open if the leases are more appealing in that). i know i am being aggressive on my cost and am looking for experts as yourself to guide me as i make this plunge into leasing.
further to my earlier posting, i did do some digging around the MB offer. have a few questions as i start talking to dealers, i hear conflicting info and not sure how much of those are true and am looking for some guidance:
MSD cannot be applied for current month leases (it has something to do with standard MF vs non-standard MF)
MSD cannot be applied along with autopay. only 1 can be availed to
are the above statements true?
Additionally, i got few # and here is the best till now that i have recd for a 2016 C300 4Matic:
MSRP 41875
Sales price 37500
FEP (not willing to add this stating that they have already discounted the vehicle too much hence not applicable)
Residual ~ 64%
10K per year/ 36 months
MF: 0.000144 (includes autopay)
Monthly payment $399
Due at signing: First month payment + $1195 IL Tax + Acquisition fee $795 + Doc/ Title/ License fee $250
is this a good deal?
Also i was trying to churn the # on an excel sheet however never really figured out how to get the IL tax of 1195? it seemed that they are taxing the tax + all upfront payment i would be making? is this how its done?
Any advice experts can provide will really be appreciated.
If those are the exact numbers given to you by the dealer those are pretty solid numbers. But the monthly is not correct. If you use these same numbers and plug it into the leasehackr calculator you will notice a significantly lower monthly. Since you’re in IL you only pay tax on the amount that is leased. When i plugged in those numbers into the hackr calculator I got:
$306 per month with $2653 due at signing. (10k per year/ 36 months)
The due at signing is the First month payment + $1072 Tax + Acquisition fee $795 + Doc/ Title/ License fee $480.
I applied a 9% tax rate. I urge you to plug these numbers into the leasehackr calculator.
In CA, I’ve successfully used MSD on a MBFS promotional lease last December. Not sure if it’s any different for IL; perhaps the dealer can give MBFS a call for their most updated policies. My understanding is that MBFS policies changed mid-2015 to allow MSDs for subvented rates.
Not sure about the upfront sales tax of $1,195. What’s the sales tax rate?
Assuming Chicago 10.25% sales tax rate, I’m getting $429/mo and $1,556 drive-off using those numbers above.
what i am hearing is that MSD was possible last month because the MF was different. Now MBFS is using a std. MF and hence MSD cannot be applied on it. got this only from 1 dealer - trying to reconfirm it with alternate dealers.
I am in outskirts of chicago - so my tax rate is 7.25% . still havent figured out on what my upfront taxes comprise of - in case i plan to pay taxes upfront itself.
. still havent figured out on what my upfront taxes comprise of - in case i plan to pay taxes upfront itself.