I’m located in Miami, Fl and I recently stopped at my nearest MB dealership to check out some of the lease programs going on.
My attention levitated towards a 2023 S580e MSRP of 127,800.
Believe it or not, because this model is an “e” the 7500 federal tax credit can be applied. From there, The dealership is also offering a $14, 000 discount on the vehicle which is a total discount of 22,000.
This brings my monthly payment to be $1680, 10k miles, 48 months with 8,000 down payment towards the vehicle.
Any thoughts or suggestions on this deal? Or what numbers I should looking at? I do plan to out buy the vehicle after the lease.
We need a lot more information such as the residual, lease term, milage, money factor, etc.
At first look this is not a great deal or anything close to it. Should be several hundred dollars less expensive assuming the residual is average. Sounds like they have jacked the money factor to the moon and there may be some other fees they are charging to make up some profit. As an example for an EQS with similar discounts the payment is around $1K.
Definitely ask them for that data. I would also be asking for the residual for 24 and 36 month leases. 48 month leases are typically not very advantageous.
Also, I just did the math and you are paying $88,640 over 48 months on a capitalized cost of $98,300. The dealership is making a TON of money on this lease.
Understood, the money factor should be .00266 going from memory. Residual is set by the bank, but is needed to make the calculations. More importantly he wants to see how much the dealership is trying to steal from him over and above what they should be charging.
Standard money factor for MB this month is .00275. Not sure if it is different for the 580e (it was different for the 2022 S500 the last few months). There’s also $3k lease cash, but again not sure if this applies to the 580e. Edmunds will provide all that information.
I can confirm it is .00266 and least on the EQS, just checked my contract from last weekend. Also as an FYI I had one dealer offer me a “special” rate that was sub .00200 (I think it was .00196, but not 100% positive) stating it was some program from MBUSA. Piecing things together I am guessing that the actual buy rate is much lower than the .00266 that is stated publicly.
