[TravelBro]

I really want a CLA 250. I ordered one in polar silver, sports package, xenon headlights and the panoramic sunroof. The MSRP came out to about $36,070.

The lease deal they gave me was $5000 down and $450 per month. After this my mom was next to me and said $450 sounds high so I will give you an extra $1K to bring the lease down. The guy said he can bring it down to $430 per month.

Is $6000 down, $430 for 36 months a good deal on a $36,070 Mercedes CLA 250?

Below are the options I chose:

CLA250 Coupe = $29,900
Sport Package = $2,200
Panorama roof = $1,480
Bi-Xenon headlamps and LED tail lamps = $850
Polar Silver Metallic = $720
Interior Color: Black MB-Tex = $0
Trim: Aluminum trim = $0
Transportation Charge = $925

Total = $36,075

 

[sv848evo]

Just my opinion, but if your mom has to help you out with the cost, maybe you shouldn't be buying a Mercedes? My advice: take the 6K and get yourself a nice used car. Then you won't have to worry about your payments seeming too high.

 

[thetek9]

What state and how many miles a year did you get? Also depends on your credit.

But, if you were to put that much down, qualify for top tier credit rates, live in California (9% sales tax), and have 12k miles/year.... I'm assuming you have a $795 acquisition cost too...

You should have monthly payments of 310.33.... with the nationally advertised money factor and residual rates. So it doesn't look good.

 

[CanesXXIV]

Yes. How does 1,000 only reduce the lease 20 dollars.

 

[TravelBro]

I can afford and I also have no bills. I just don't want to be ripped off.

For example another user on these forums got a $38K CLA 250 for $0 down and $477 a month.

 

[thetek9]

Typically, $1000 downpayment reduces monthly cost by $30 from what I've read.

 

[TravelBro]

What state and how many miles a year did you get? Also depends on your credit.

But, if you were to put that much down, qualify for top tier credit rates, live in California (9% sales tax), and have 12k miles/year.... I'm assuming you have a $795 acquisition cost too...

You should have monthly payments of 310.33.... with the nationally advertised money factor and residual rates. So it doesn't look good.

Texas and 10K miles. I wont use the car much maybe 5k a year. They said 10K is the lowest they can offer me.

Right now they are only checking my credit score so I have not signed a paper with any amounts in it. I just don't want to be ripped off.

 

[Sue Esponte]

The general rule of leasing is that you shouldn't put ANY money down. $6K down is CRAZY. If your car is stolen or totaled that money is GONE. Putting money down only makes you feel better. Your mom should have smacked you and pulled you out of the dealer by the ear. Even if she insisted on helping you out, she should have given you the $1K to pay out over the term of the lease. Her contribution only lowered the lease rate by $30!

BMW is currently running a lease deal on a 528i for $469/mo for 36 mos with $3K down and that's based on a car with an MSRP of $51,325.00. The rate is screwy to me. Who did the screwing, I'll leave that for you to decide.

-Eric

 

[kenbefound]

I understand you can get a much better lease deal on a C class which is more expensive. So to me, you will not get a "good" lease deal on a CLA until the demand goes down. But if you must have one, it certainly is more affordable than buying but then you will have spent $21,500 after three years and no car left to show for it. I usually buy used and keep my cars for 6 to 10 years so as to spread the depreciation out. Yes, car manufacturers hate me, lol. This would be my first new car in almost 3 decades. And even though I placed an order I am still second guessing whether I did the right thing. I think that is normal, especially when putting down this kind of hard worked money. In the end, it is you who will need to decide what is right for you.

 

[TravelBro]

I understand you can get a much better lease deal on a C class which is more expensive. So to me, you will not get a "good" lease deal on a CLA until the demand goes down. But if you must have one, it certainly is more affordable than buying but then you will have spent $21,500 after three years and no car left to show for it. I usually buy used and keep my cars for 6 to 10 years so as to spread the depreciation out. Yes, car manufacturers hate me, lol. This would be my first new car in almost 3 decades. And even though I placed an order I am still second guessing whether I did the right thing. I think that is normal, especially when putting down this kind of hard worked money. In the end, it is you who will need to decide what is right for you.

Thanks I just don't understand how the other guy got a $38K CLA for 477 a month with no money down. Mine was $6000 down and $430 per month. I have a lot saved up so it wont hurt me but just the thought of being ripped off or scammed does not feel good.

So far all i signed was a document that allows them to check my credit. The rest were estimates because I told him I wanted to have an idea of what I would be paying. Am I able to back out now?

 

[thetek9]

It depends what part of Texas you live in, but lets say its 8.25% sales tax, and at 10k miles/year you should have a monthly around $268.55 with the numbers being thrown around.

What is your residual rate? What is your money factor? You mentioned the MSRP, but what is the sales price?

As others have said, you'd be better off not putting any money down and having a $460/mo rate. If your car is stolen tomorrow, that money is completely gone.

 

[TravelBro]

It depends what part of Texas you live in, but lets say its 8.25% sales tax, and at 10k miles/year you should have a monthly around $268.55 with the numbers being thrown around.

What is your residual rate? What is your money factor? You mentioned the MSRP, but what is the sales price?

As others have said, you'd be better off not putting any money down and having a $460/mo rate. If your car is stolen tomorrow, that money is completely gone.

Thanks what are all of the numbers that I should ask the dealer? Just the residual rate and the money factor?

 

[CanesXXIV]

Msrp and money factor is all that can change.

 

[TravelBro]

Msrp and money factor is all that can change.

Thanks I will ask the dealer what the money factor is. Are you able to calculate what my monthly payment would be with just the money factor or what other info is needed?

Also what is the residual rate. Can someone explain that to me please. Thanks!

 

[CanesXXIV]

Don't sign anything that isn't .00162

 

[thetek9]

Msrp and money factor is all that can change.

MSRP changes based upon what packages are added and delivery fees. MSRP doesn't change beyond that.

Sales price is what changes based upon your negotiations. Money factor changes depending upon negotiation. Residual rates change based upon your yearly mileage allowance.

Residual rate is how much the vehicle is worth at the end of your lease. This is based upon the MSRP, not the sales price.

 

[TravelBro]

MSRP changes based upon what packages are added and delivery fees. MSRP doesn't change beyond that.

Sales price is what changes based upon your negotiations. Money factor changes depending upon negotiation. Residual rates change based upon your yearly mileage allowance.

Residual rate is how much the vehicle is worth at the end of your lease. This is based upon the MSRP, not the sales price.

Thanks so all I need to ask him for now is that the money factor is?

 

[thetek9]

Ask for a copy of his proposed lease deal. Make sure it includes the MSRP, the sales price, the residual rate and the money factor.

Then go back to him and tell him you know that the residual rate for your mileage is 67%. Tell him that the money factor is 0.00162. Tell him you won't go a cent higher than MSRP (if you were willing to wait it will probably end up below MSRP but the demand is too high on the car at launch). I would also try to negotiate the delivery charge out of the MSRP, but it wouldn't be the deal breaker for me.

Tell him you aren't willing to put any money down either. You should end up around $460/mo that way, and not get ripped off.

 

[TravelBro]

What is the sales price? I dont think he wil give me any sale only the msrp. This is the email I have for now:

Hi thank you for your time today at the dealership. I just wanted to ask if you can send me the total MSRP, the residual rate and the money factor. I am trying to calculate the payment.


Do I also ask him for the sales price? I am not sure that that is.

 

[thetek9]

Sales price is just the agreed total price of the car. It's to make sure you aren't paying OVER MSRP on the car.