Mercedes E350 Lease Deal

[FPaez]

I’m looking to lease a Mercedes E350 Sedan. I’ve gotten offers of $800-$950 a month on ~ $60k msrp models giving between $2,000-$3,000 money out of pocket. My current lease has about $2,500 in positive equity and it ends Feb. 2022. Would this be considered an okay deal given the current market?

BMW is offering $1,000+ monthly payments for vehicles that are the same MSRP and are all asking $4-5k just on MSD… I figured Mercedes is offering better deal?

[HersheySweet]

@FPaez

I figured Mercedes is offering better deal?

Well you’re payment to MSRP shopping.

Have you looked at quotes, money factors, Residuals, or read leasing 101?

Waiting for a @mllcb42 ctrl+c, ctrl+v

the devil works fast, but a bored college student with no classes till Feb works harder.

[mllcb42]

It is practically impossible for us to tell you what a “good” monthly payment is for your specific lease as lease programs are highly dependent on region, personal qualifications, tax rates, etc.

We always recommend the following method before you ever contact a dealership. If you do all of the work up front, you’ll have a stress free dealer experience and set yourself for success.

1. Read Leasing 101 (EDITORIAL | LEASEHACKR) to understand how to calculate a lease payment and the variables. Monthly payment is an output, not an input!! While you’re at it, be sure to watch the LH video (How to Use Leasehackr - YouTube) to brush up on how to most efficiently use the resources here.
2. Pick a specific vehicle that you want to target
3. Gather the current MF, RV and incentives from the LH Calculator - Lease Program Query or Edmunds forums for your zip code
4. Research the LH marketplace and other deals that have been made recently on your vehicle - what was their pre-incentive discount? How did their lease terms differ?
5. Plug your numbers into the LH calculator (CALCULATOR | LEASEHACKR), and use a pre-incentive discount similar to what you have seen
6. Create a target deal, this is what you’re trying to negotiate to. You can try different terms, selling price discount, etc. and see how your monthly payment is affected. It is also possible that different trims of your vehicle may have different MF and RV (i.e. this is very common with GM), so make sure that you look into that. Come up with a set of inputs that give you the output that you want - your desired monthly payment.

With a target price determined, you now have a deal to pursue and compare dealer offers against. More importantly, you have a solid foundation to work from.

[max_g]

Saying this for your own good. If you know this little about leasing you are probably going to get destroyed in the finance office.

Don’t be like the guy who was so embarrassed about what happened in there that he couldn’t even own it (“my wife signed everything while I was in the restroom!”).

There are two choices for everyone starting off, including all the regulars here who started off in the same position at some point:

A. Educate yourself with all the helpful content here starting with all the articles in the Leasing 101 section (EDITORIAL | LEASEHACKR), and then have an educated discussion about how to make a decent deal better, if possible.

B. Refuse to spend 30-60 minutes on Choice A above and thus remain uneducated about leasing and get taken advantage of every 2-3 years for the rest of one’s life.