Mercedes Lease not adding up on the calculator. Did I get hosed?

Ask the Hackrs
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21

Thanks Legends. I see what you posted. Does the deal make sense or is it bad deal overall? Just trying to learn from my mistakes

22

Your due at sale, as applied to the lease, is your $3000 cash and your $13765 in trade equity, for a total of $16765 due at sale.

The msds get paid upfront, but they arent applied to the actual lease cost, so theyre not included in the due at sale amount in the calculator.

23

Is .00220 buy rate?

24

That’s what I was told. Per my research I believe it is

25

Have you confirmed with edmunds?

26

Yes I looked at Edmunds. in June was .0022

2 Likes
27

I would have just taken the 13k equity and applied to msd. That would have been more judicious use of money. If you had spare 25k lying around, just finance the car.

2 Likes
28

As MSD or a one-pay lease. Or a down payment towards financing the car.

29

If they didn’t markup your MF, they’re probably making it back from the trade.

You’ll need to work with the F&I manager for this, but typically, the warranty can be cancelled within 30 days with no penalties/admin fees; though they may apply that to your upcoming lease payments instead of issuing a cash refund.

Congrats on the new ride, post pics!

30

Hard to tell without knowing what the other bids for the trade were.

31

$17k plus $900/mo? Good god. You got hosed the minute you chose a GLS.

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32

Yeah but the monthly payment looks so reasonable when you put 17K down :rofl: Curious if OP would have signed a 1400/mo lease with zero down for the same vehicle

1 Like
33

Isn’t it in the ballpark of what brokers advertise for the GLS nowadays ?

34

No I would have never. But then again I would have never gotten 14k equity on my trade as i would have been negative. I considered it a wash. Bad deal on car, good deal on equity in my lease return so in reality it was a 17k ish under MSRP deal

35

What was your trade in? Did you run quotes against other buyers?

36

Yes it was a GLE 350. Yes ran it through other dealers car max etc. I preferred to do it through the dealer as it was easy and didn’t have to deal with title etc

37

1400? That’s what I’m seeing

38

No, in reality it wasnt.

5 Likes
39

Is it possible to switch it from a lease to finance since he bought it like 3 days ago

40

And take a risk on a GLS residual? Why?