(First time leasing a car)
Just signed a lease for a e450 coupe for $909, at the end the finance manager sold me a prepaid maintenance package (2yr/20k miles) for $1290, which is already higher than the price on the official site’s $1100. Furthermore, instead of resdualizing the maintenance fee, he somehow managed to added 40 dollar extra to the monthly payment which adds up to 40*36 = 1440? Wtf? Even though I signed the contract, I haven’t given the all my documents for credit approval and taken the car delivery yet. Can I still ask them to revise it? What are my options?
(First time leasing a car)
Why not go back in the dealer and tell them you want to back out the pre-paid maintenance or you won’t provide the remaining docs for credit approval and will walk away from the deal.
I don’t know about CA law as it relates to cars lease/purchases, but is there a buyer remorse period of a few days?
Also, the $900/mo lease payment seems crazy high, did you do any research and know that your lease is a decent deal? I looked and don’t see many lease topics for the E350, but it seems there are a ton of great Mercedes lease deals on demo cars, have you contacted any brokers to see what they can offer for a E350 lease?
It’s a e450 coupe with zero drive off (tax, fees all included). Also it’s fairly loaded with options since the msrp before discount was 72k. I attached the deal breakdown, mind telling me if it’s a decent deal? They also told me the MF is 0.00063 and residual is 0.53.
Go to Edmunds.com, think this would be the correct discussion thread for your question:
They will be able to provide you MF and Residual, hopefully that can give you some direction as to if yours are reasonably inline. Provide your zip code as well as months/miles. Scan through the thread for examples and responses. Good luck.
I’m too lazy to look, but I assume a brand new and highly optioned 2019 E450 coupe is going to lease totally differently than an E350 sedan demo…
The OP appears to have already posted on Edmunds. The basic deal doesn’t seem that bad, IMHO, although I don’t understand what they did w/ the pre-paid maintenance, and if you already signed a contract, I don’t really understand how you could walk away from the deal.
There is no cooling off period for the consumer, AFAIK.
Sigh. If anyone else is reading this in the future beware that the Mercedes-Benz of San Francisco is kinda shady.
I too had a less than pleasant experience at Mercedes-Benz Of San Francisco. Went to Mercedes-Benz Of Walnut Creek and it was the opposite.
Post a critical Yelp review (even b/f taking delivery) and try talking to the general manager. You never know what they might be willing to do, even if you’ve already signed a contract…
And, in the grand scheme of things, you’re not paying THAT much more for PPM. If you can’t time the services w/ coupons, you’d probably be spending at least $1000 on 2 yrs of maintenance…
Actually I think the 40 dollar extra monthly payment might make sense if the price of the maintenance package is $1290 since after tax it’s 1290*1.085 = 1399.65/36=38.87. Pretty sure we need to pay tax on it right?
Though it’s still pretty shitty that they over-charge me for that and didn’t add the cost to the msrp to residualize it.
no cool off in CA on cars over 40k…
You have not taken delivery believe you can back of that car but may vary by state
in general those maintenance warranty etc you have 30 days
You may be able to cancel the maintenance! Talk to them ASAP
If they do agree to adjust the price and residualize the cost, that’s still a pretty good deal right? Something around 1100*(1-0.53) = 517 + tax for 2 years of maintenance?
People with tech money don’t care how much they pay for a car usually. This dealer must print money with all the GLSs they sell
They should be rolling the prepaid maintenance into the total MSRP so with your residuals, you should only be paying like half that. I’ve leased a bunch of MBs and they have always been able to do it that way. My current car is a 2018 E400 Coupe so very similar to yours with a MSRP of $78k and i’m only paying $800/mon with the prepaid maintenance included.
If you haven’t taken delivery and the deal isn’t approved, I’d shop the deal at Walnut Creek, might save you bunch of money and can’t hurt anything. Is your credit sub par and requiring extra certain stipulations?
I did sign the.contract and paid the first month lease though…
Wow… Is the number including tax and also zero drive off?
Yup, 0 down + taxes included. Granted this was in December when dealers were trying to dump the remaining 18’s so there was a bit more room to negotiate. Have you thought about applying MSDs? That should get your monthly down some more
Can’t PPM be canceled? Talk to them about it.
Also, how expensive are these oil changes on an E450? 1300 dollars for maintenance up to 20k miles? That’s pretty expensive.