5000 down, 585 a month for 48 months. All services and maintenance included for full duration of the lease.
Gross Capitalized Cost = $53,942.93
Capitalized Cost Reduction = $5,000
Adjusted Capitalized Cost = $48,942
Price of Vehicle = $47,650
Residual Value = $24,051
Depreciated & Amortized = $24,891
Rent Charge = $3,187
Can you post an attempt at a calculator? Some basic information, such as an MSRP, is missing.
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That’s 33k for four years. Unless you’re set on that vehicle, that’s a hard pass. Or buy it.
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Sticker price is 50,560. Is this a decent deal considering all maintenance and services are included or am I getting ripped off.
I’m still not sure how that calculator works but this my best attempt I guess. Does anything seem off based on the numbers I have given already?
Sticker price is 50,560. Any advice urgently would be great as pick up for the car is today.
In addition to sticker prices taxes are 2000. Dealer fees including destination charge, processing fee is also 1900
Destination fees are not dealer fees, they are part of MSRP
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Oh thank you. What is your opinion on the deal?
I have no gauge on this but are you willing to spend 33k over four years when there are considerably cheaper leases for nicer vehicles.
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From your posts it doesn’t seem you are interested in any real feedback. Rather you’re going ahead anyway and want someone to validate that decision.
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Well tbh I’ve just always wanted this car and completing that wish when I don’t have any other liabilities or expenses and job security. I just want to make sure I’m not being screwed over. So any indication if this is a solid deal at 585 and not a rip off is what I’d be looking for. Maybe I should’ve mentioned that before.
Great—no ones stopping you from driving the car you want. The question is whether leasing or buying is better.
With $5,000 down right?
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Yea 5000 down
Also I don’t think I’d be buying this car because for me I think it’s all about enjoying the car for the next few years and then buying a more sensible long lasting car when I am done with this one.
It’s a three-party transaction involving a dealer selling a car to a bank and the bank leases it to you.
Not all terrible leases result from a dealer ripping a customer off. A lot of terrible leases result from customers willingly accepting terrible terms from the bank. Which is what you’d be doing if you signed this lease.
This is a car selling for $47k. How do you benefit from spending $585x47 + $5,000 =$32,495.00 to rent it, turn it in and start all over again?
This is the opposite of lease hacking. A hacked lease means you spend less than the cost of ownership. You’re spending more. You’re better off buying it.
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The CLA is one of the vehicles that LH users are going to be sour in since the vehicle typically doesn’t lease well.
In your case you’re likely paying MSRP with add ons and no rebates. That combination is poor, and your excitement to just close on an aspirational dream car is going to result in a very expensive lease.
The only saving grace could have been a rather low lease money factor on CLA this month, but it looks like the dealer is charging you a marked up money factor too.
All-in, this deal is bad, and you’re throwing money away.
It takes time to negotiate out the Add ons, get a dealer discount, and score the buy rate money factor. You’re not giving yourself enough time.
If you can find an excuse to not pick up the car today… this forum can help you. But based on your responses, you’re too emotionally excited to want the car at the expense of a 48 month bad lease.
TL;DR you’re being ripped off and many people here want to help you. They just need time, and your willingness to try their approach.
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I think I made a big mistake of telling the dealer yes and selling off my older car already which can’t be undone. This might be turning into a learned lesson situation. Silver lining might be that at least I get a car I want for a bit at a monthly price which isn’t that bad.
But let’s say I do back out of this one. What would be the next move for me here. Because I’m currently driving a loaner from this dealer.
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Obligatory questions, are you willing to try a EV?
Any chance your old vehicle was also a leased Benz?
If not a Benz, any other brands you will entertain? It sounds like your next car is a “dream car” and not just a “cheapest car”… but it’ll be helpful to know what you’ll be happy with if not a CLA/Benz.
Mercedes is in a weird spot right now since the only decent deals are on EV. And the good deals across their product line require lease loyalty. What is stupid is that owning a Benz doesn’t confer loyalty. It must be an expiring lease or a historical “reignite” lease.