Is this a good deal? 2019 Mercedes Benz E350 loaner

Ask the Hackrs
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So before I get into the deal I have a side question. I live in Boston and I’m coming off of a 2013 E550 with everything from massage seat, pano roof, heated and cooled seats, to lane assist and airmatic adjustable suspension so I didn’t want to give up much. It does have 105,000 miles but is in great shape. I am planning to private sell it so it’s not included in the numbers because they offered me 10k for it and I thought that was low. In addition I owe 22k on it (I know, I know… this is like 3 cars buried at this point and I just need to get out).

So my first question is should I just sign it over and eat 12k or is it worth trying to sell it on my own?

Second question is is this lease a good deal? They refused to add in anything extra such as loyalty or usaa or even a basic dealer incentive. That said it looks like a significant discount. He basically asked what I wanted they payment to be, I said a number and he somehow made it happen. Ok, enough talk, time for the numbers:

Current mileage on car: 5850
MSRP: 68,215
Sale Price: 54,515 (website lists “smart price” at 54998 so it looks like they only took off under $500)
Months: 36
Mileage: 10,000
MF: 00120 (I was told it was 00090, but then it increased when the sale price decreased)
No MSD’s
No Incentives
No tax (purchasing from my residence in New Hampshire which is tax free)
I am putting 3k down, but that’s being allocated to the $1095 acquisition fee (can’t be normal!), 634 dealer fees (including doc fees of 459 and title 170) and the first months payment. So it’s really 1826 that’s going to the payments.
So after all that, the payments come out to 540/month

It was 9pm (dealership closed at 7) and they told me how this deal was only available because it was late and no one else was there and if I waited until tomorrow it would be much more. Felt a bit of pressure there as the one thing that I really wanted the car to have is the drivers assistant package, which we could not find on a loaner.

If I bury the 2013 into the deal, that pushes the payment to 898/mo. I would essentially be financing the 12k difference into 3 years at an additional cost of about 888 over the entire loan. I just refinanced this loan last year and if I take it to the end of 5 years I would have paid 28k to finish it off and be done with it. As I’m writing this I’m thinking of just letting them deal with it and making this whole situation just go away in 3 years.

So what’s everything think of all this? Well, at least how good are the deals? I know I’m dumb for letting things get to the point where I am refinancing over and over, which is why I am just biting the bullet one way or the other. Sorry for the long post, hope it’s not TL:DR. Thanks!!

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Not a bad deal on the new E350…if you do a 2019 530i you may get more car for your monthly.

In regards to the 2013, E550 and being buried…I would personally get out of it ASAP and take the loss- unless you want to own it outright some day.

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Thank you. Yes I do not plan on keeping it forever as I have already had to replace the suspension (2k) and a host of other things. Plus the sensors keep going out and it did happen to fall off of a tow truck. That mixed with 100k miles makes me think that it’s time to let it go.

As for the BMW, I do have an older BMW convertible that is a lot of fun to drive. The big seller for me on the E class vs the 540i was the seats. Seems dumb, but I figure I am going to be sitting in those seats for 30k miles and the E class is a lot more comfortable than the 540i in my opinion. The 540 grips you and its a nice sporty seat, but i’m looking for a bit more comfort.

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Having both a BMW and Merc I can understand the sporty vs comfort needs and how quickly they can get expensive to fix. I got rid of one of my Bimmers at 105k miles for the same reason. I’d personally take the hit on the 2013 now and save yourself in the long run. You can go private and most likely get more but there is the ‘hassle’ to consider. You’d have to value what’s more important to you, time/energy or money.
Seems like you’ve gotten yourself in a position in the past so slow down this time. Emotions and pressure play a big part in car buying. Try looking at the ‘deal’ instead of ‘the car’. The markets full of cars albeit there are instances when a deal is so great you have to take it. The 2019 doesn’t seem like one those, although decent deal at first glance. Check the MF and RV with Edmunds to see if there’s more room to negotiate.
Consider doing (2) MSD’s (more if possible) instead of the down payment. It’ll save you a few hundred and less risk in losing the money, given your poor car history stories. Play around with the LH calculator to see what’ll work best for you.

Edit: as for acquisition fee, $795 is normal but almost all MB dealers are now charging $1,095

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There’s no incentives on the car it’s a fantastic deal. Having a brand new bmw- Benz gives you way more tech for the money hands down.

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Personally, I would try and sell it on my own. I think you can definitely get alot more then 10k for it. Definitely check out some of the car buying services (I.E. Carmax, Carvana, Vroom, etc.) to see what kind of offers they give.

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There is $2k dealer cash ($3k for 19), and also if you have fleet, thats another $500

You should do 10 MSD instead of putting money down

Ask if they could do MF at buy rate (17% off pre-incentives is not strong…)

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So here’s an update on this deal:

So the MSRP on the vehicle at 68215 is accurate. The online price of 54,999 was also accurate, but they were willing to come down to 54,515. I kept looking this over and I could not figure out how their original payment of almost 600 dropped to 550 by reducing the sale price by less than $500. Then when I sat down with the finance guy it all came together.

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The residual that they were using was based on a new 2020 e350, not a used 2019 e350. So when the finance guy put it all together he was like well, we agreed to that payment so let’s see how we can make this work… I ended up putting my trade in the deal which brought the payments up to 898 due to my negative equity, but instead of just getting 10k for the trade they took the difference in the residual values and applied that to it. They also gave me the family discount of 495 for the acq fee instead of the normal 1095. So not a great deal, but not too bad. Also financing my negative equity under 3% is pretty attractive as well.

Thanks for the comments!

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I couldn’t follow along… post a calculator or write out all the relevant line items inside your net cap cost and the same for DAS

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Here is the deal. I had to cheat a little to include the trade in. I am a little frustrated that Mercedes uses “Rent Value” in their lease paperwork. The salesman quoted me on a .00090 MF at the original price of 54,998 with 10k for my trade and 1095 acq fee, then the supervisor quoted me .00120 MF at the reduced price of 54,515 with 10k for my trade and 995 acq. fee, then the finance guy quoted me a rent charge of 5202.53 with 11.5k for my trade and 495 acq fee. I didn’t realize until later that the 5202.53 rent charge equated to a .001422 MF which was about $22/month more than a .00120 MF would have been. That said, my credit score is in the mid 6’s so that may have been a factor.

At the end of the day, my trade in (2013 E550 w/ 105k miles) is valued at KBB 11,576. I looked online, but no one is selling one of these with the number of miles mine has, closest was 75k for 16k and that’s been out there for awhile. Plus, on my trade the air shocks are going out, the brakes need to be replaced, it’s overdue for service B, the previous owner tried to clean the display so that looks awful, and it has a fair amount of scratches on the paint… so getting 11,500 and having them increase the tire/wheel warranty to cover the 3 years of the lease on the new vehicle, I’m not mad at this. Plus they put me onto MSA insurance which lowers my insurance payment (note, I’m bundling home and auto) by $900/year. This is my first Mercedes lease and although I see some great deals on this website (mostly in larger markets), I’m happy with the deal.