Be as specific as possible in the title if you are posting a deal – include car model, monthly payment, and money down.
Include as much information as possible in your post, and even a celebratory picture.
This is my first post here on leasehackr (yay me). I signed a deal today for a 2019 E-300 which was a retired loaner. I traded in my 2016 BMW X1 for this vehicle. I owed $18,529.40 on my X1, Mercedes Benz Downtown gave me $18,500 for my car and I planned on putting $2,000 down, but Mercedes Benz paid the first month’s payment so I put $1342.72 down. My monthly payment is $546/month including taxes. I was originally in the market for a retired X3 loaner, but BMW Downtown was not able to make me an offer that I felt made sense. I absolutely love, love, love this E-Class. I feel it is a better lease than the X3s, but I would love your input. Also, I added photos! My grandpa was so excited to see the car .
Updated 5/12/2020: I added a photo of my lease agreement and updated my calculator.
Thank you so much! Yes, I apologize for the inaccurate figures on the leasehackr calculator . How do I determine the money factor? I also posted the lease agreement if that helps. Again, thank you for your input .
Looks like you got a pretty decent deal, but for future reference:
10 MSD’s would have saved you approx. $2300 over the lease term.
Permaplate is a BS dealer add on. Acceptable if discount compensates for it, but just be aware that it’s not residualized (You’re paying the full amount over the lease term) and is worth $0 practically.
Looks like you posted a dealer invoice, not a contract or lease breakdown quote, so really hard to take much from that.
Hard to tell anything with the trade. They can really obfuscate deals. What was fair market value? What did carvana, carmax etc offer?
Always need to verify what base MF is on Edmunds. Dealer can mark it up but obviously this will dilute the discount level.
Never put money down on a lease. It’s senseless and you could lose it all if vehicle is stolen or totaled.
Ah, I see. Yes, next time I will do that. I explored the forums on Edmunds a bit after reading your post. Thank you for this information, I will try to post the actual lease contact details instead of the invoice in a bit. I’d still like to know the money factor in the deal do I can practice and be more informed next time. Thank you again!
Oh. ya, that is the invoice. I’ll try to post the actual lease breakdown, my apologies. Carmax offered me $15,500 for my trade and the value on kbb was $15,566 when I used their online tool. BMW schomp appraised my trade using pictures only and they offered $15,900. So I had about $3000 negative equity going into the deal.
When I looked for cars with comparable miles, year, and location to mine on carvanna and cars.com, they were selling for approximately $20,500. Another thing I want to share about my trade was that it was out of warranty in Dec 2019 and sure enough needed a repair Jan 2020 . Cylinder misfire, but BMW covered it under good will and replaced the ignition coil and all spark plugs.
While repairing that, they mentioned I would need to replace the water coolant pump at some point (a $1,809 repair) which prompted me to look at getting rid of it. It would have been $4,000 to extend the warranty. I wish I wouldn’t have bought a used bimmer!
Mercedes downtown then offered me $18,500 for my car. I agree that I shouldn’t have put money down, I will know for next time. I thought putting money down would help eat up some of the negative equity, but I see it just went towards the lease. Overall I am happy with the purchase, going from a x1 to a E-class has been a huge leap forward lol. But I also recognize I could have done more had I informed myself a bit more. Thank you again for the insight, I appreciate you sharing your thoughts!