Leasing Tips? - Mercedes-Benz Forum

 
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post #1 of 5 (permalink) Old 09-24-2007, 08:51 AM Thread Starter
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Leasing Tips?

I am interested in leasing a new 2008 CLK 350. Does anyone have any leasing or negotiation tips that may help me land the best deal?

Thanks,
Mark
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post #2 of 5 (permalink) Old 09-24-2007, 07:48 PM
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Bargain hard over the capitalization cost, that is, the agreed price the car is believed to be worth at the lease beginning. Just the same as if you were negotiating over the purchase of a new car. It really makes a difference in savings, and some people don't realize you are not stuck with the dealer's MSRP or other price they start out with.

To the extent possible, negotiate the price the car will be worth at the END of the lease, too.

Get the best "money factor" you can. That is supposed to be the equivalent of the interest rate you would pay when you get a car loan. It is the same idea. You might be able to shop around for the best lease deal you could get.

Pay attention to the amount of mileage you are allowed per year without a penalty. Most of the mileage limits are unrealistically low, as 10,000 miles, a typical limit on leased cars, isn't very much mileage for one year, especially for people in sales, who have a long commute or drive a lot.

Excess mileage charges at 30 cents a mile over the mileage limit can add up REALLY quickly.

Also there are open ended leases and closed end leases. Know the difference.

You might want to inquire if you would like the chance to purchase the car at the end of the lease if you liked the car and wanted to own it . You might be able to get a rough idea of what the cost of that would be.

Be aware of the things you could get charged for at the end of the lease, such as things that are more than "normal wear and tear". Look at the fine print carefully.

I am sure many other folks could chime in with a lot more advice than this....

Jim
<--- superschnelle 300 hp 10:1 ECE euro HV, Hochverdichtung = high compression (11/2011) ... Wie im Freien Fall. Nur horizontal.


"I swear to god, it's like I live in a trailer of common sense, and stare out the window at a tornado of stupidity." >'='<

Last edited by cascade; 09-24-2007 at 07:52 PM.
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post #3 of 5 (permalink) Old 09-24-2007, 11:31 PM
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^^^ I agree....

Be aware of the Residual of the vehicle. Get the highest percentage rate, Mileage, and Money Factor... the lower the better!!!

Good Luck
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post #4 of 5 (permalink) Old 11-18-2007, 10:32 PM
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Leasing Basics:

1. Money factor may look low (.0003) however, a rough rule of thumb is : take the money factor, multiply it by 2400, and you have the lease interest rate.

2. Mileage ADDS UP...you get the standard 10k, 12k, or 15k per year. You can purchase additional miles anywhere between 15-25 cents/mile...what you DONT use of the ADDITIONAL miles will be refunded after the lease...the overage charge currently is 20 cents per mile for the first 5000 (equals $1,000), and 25 cents for every additional mile after 5000 miles.

3. Dispo Fee. There is a Disposal fee of 350 (non-waivable) on older vehicles due after the turn in of the vehicle. New Dispo fee is 595, however, MB will waive the fee if you get into a new MB.

4. Lease Inspection. The rules for normal wear and tear are based on the "Credit Card Test". Inspection Solutions is the MB Inspection service that you will need to call when you are inside of 90 days from your maturity date. They are looking fro any damage larger than a credit card. Rips, scratches, dents, ect., smaller than the standard credit card is referred to as "Non-Billable Damage". They will document it, but you will not be charged. Anything larger, you will be charged for in your maturity bill.

5. Turning the Vehicle in. ONLY RETURN TO CERTIFIED MB DEALER!!!!! If you buy a new GTO from Pontiac, and they say you can leave the MB there, you will be on the hook to pay the bill for MB to send a wrecker to the Pontiac dealer. MB DOES NOT pick up from Non MB Dealers. They dont even Pick up from Chrysler anymore. You CAN turn the vehicle into ANY MB dealer as long as you call ahead and make arrangements.

6. Lease Terminology.
Maturity Date: Last day to turn the Vehicle in.
Maturity Bill: Bill sent out after the vehicle is turned in. Will include Dispo fee, fee for damages, fee for Mile overage, any outstanding balance.

...Hope this Helps.
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post #5 of 5 (permalink) Old 11-18-2007, 10:40 PM
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Some good tips to start but there are more needed.

You'd need to pony up and buy gap insurance in case the car has a big wreck and gets totaled out and Insurance won't pay what you think the car is worth.

Jim
<--- superschnelle 300 hp 10:1 ECE euro HV, Hochverdichtung = high compression (11/2011) ... Wie im Freien Fall. Nur horizontal.


"I swear to god, it's like I live in a trailer of common sense, and stare out the window at a tornado of stupidity." >'='<
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