Lease number issue please help - Mercedes-Benz Forum

 
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post #1 of 5 (permalink) Old 10-06-2016, 10:31 AM Thread Starter
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Lease number issue please help

MY GL450 is getting here next week and the dealer quoted me:

MF: 0.00107
and residual @ 60%

For 30 month / 15K miles.

Car MSRP is around 91K
Sale price is 84,500+ 1154.00 license plate + 1095.00 lease acquisition (I know this could be 650) + 427.35 doc= $87176

DP: $2,500

Tax around 8%

I get 1097/month (I used 2 different calculators)

he says 1297/month. (he used the benz calculator)

Our numbers are very close. Please look at both screen shot and tell what am I doing wrong or what is my sale guy doing wrong.

Thank you
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post #2 of 5 (permalink) Old 10-27-2016, 12:15 PM
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Your are entering the "New Car Lending Rate (%)" as the Money Factor. The Money Factor must be multiplied by 2400 to calculate the annual percentage rate. i.e. MF 0.00107 = 2.568% annual.
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post #3 of 5 (permalink) Old 10-29-2016, 05:38 AM
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$1,300/month to rent transportation?
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post #4 of 5 (permalink) Old 10-29-2016, 07:10 AM
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If my math is correct, your total cost would be about $35,000. Are you sure you want to do this? At that cost, you could buy a nice Mercedes, either CPO or with an aftermarket warranty, and after 30 months still have transportation.

Mike
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post #5 of 5 (permalink) Old 10-29-2016, 08:00 AM
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Hey, some people want/like new cars with no issues. good for them. then when they trade them in we step in a buy them.
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