What do you guys think about this lease proposal?
This is from a Mercedes dealer in the GTA. I’m not an expert, but this doesn’t seem like a fair deal. I’d appreciate more feedback from people who can understand this better than me.
TIA
TIA
Nov 24th, 2021 1:23 am
Nov 24th, 2021 7:21 am
Nov 24th, 2021 7:38 am
Nov 24th, 2021 7:38 am
Nov 24th, 2021 7:50 am
Nov 24th, 2021 8:03 am
E39M62 wrote: ↑ Since this is RFD, I’d say you’re getting ripped off. 5% is crazy in these times. And the residual is insane. The interest rate is higher than MB advertises so unless you have really bad credit, you’re getting hosed. The residual is set by MB so nothing you can do there.
Just as a point off reference. I got my F150 through the RFD thread here last year. It also has a MSRP of $70,000+. Like everyone else on that thread, I’m only paying $470 taxes in every month on my lease.
I can think of many things I would do with the $1000 extra every month
Nov 24th, 2021 8:05 am
Nov 24th, 2021 8:06 am
2.99 is for 2021. I’m assuming 5.09 is due to car shortage and to make up for loss revenue.skeet50 wrote: ↑ The lease rate of 5.09% is simply crazy, especially as MB website is currently advertising the GLC 300 for 2.99% for 45 months.
And it looks like every available add-on has been included. I wouldn't be too interested in paying a high interest rate things like the maintenance package.
Nov 24th, 2021 8:07 am
Nov 24th, 2021 8:10 am
E39M62 wrote: ↑ Since this is RFD, I’d say you’re getting ripped off. 5% is crazy in these times. And the residual is insane. The interest rate is higher than MB advertises so unless you have really bad credit, you’re getting hosed. The residual is set by MB so nothing you can do there.
Just as a point off reference. I got my F150 through the RFD thread here last year. It also has a MSRP of $70,000+. Like everyone else on that thread, I’m only paying $470 taxes in every month on my lease.
I can think of many things I would do with the $1000 extra every month
Nov 24th, 2021 8:13 am
Nov 24th, 2021 8:14 am
Nov 24th, 2021 8:14 am
I was anticipating paying MSRP, no typical 5% going into it lol. It’s a sellers market, so someone else will buy it if you don’t, so they don’t care.E39M62 wrote: ↑ Since this is RFD, I’d say you’re getting ripped off. 5% is crazy in these times. And the residual is insane. The interest rate is higher than MB advertises so unless you have really bad credit, you’re getting hosed. The residual is set by MB so nothing you can do there.
Just as a point off reference. I got my F150 through the RFD thread here last year. It also has a MSRP of $70,000+. Like everyone else on that thread, I’m only paying $470 taxes in every month on my lease.
I can think of many things I would do with the $1000 extra every month
Nov 24th, 2021 8:18 am
My score is close to 900 lol. I’m not trying to flex but this is second person that mentioned credit . Credit is not the case here. I’m a landlord on multiple properties, so I’m on top of my credit at all times. But I wish my wife would settle for a Subaru that you mentioned lol.Dealmaker1945 wrote: ↑ I'm paying a .99% lease rate on my Subaru and I made a large down payment to reduce my interest cost.
I don't know why anyone would want to pay 5% on a lease like that, especially if you don't have any down payment.
Nov 24th, 2021 8:19 am
Nov 24th, 2021 8:21 am
Nov 24th, 2021 8:22 am
Well yes she needs all those packages. I know it’s a lot of packages lol. We always built our car from factory, but can’t wait 6 months or more. This dealer only one in the GTA that has it.booblehead wrote: ↑ another friendly suggestion ... for leasing, do you really want all those option packages ? Premium, Premium plus, night package, tech package, HUD, bigger wheel and running board. Most people will simply choose what they need and be done with as they don't intend to own German brand after the lease is over.
Nov 24th, 2021 8:23 am
Nov 24th, 2021 8:24 am
Nov 24th, 2021 8:28 am
Has your wife seen this monthly payment proposal ? The saying of "Happy wife, Happy life" may not apply here. LOL.
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