ALL Lease Advice, Greatly Appreciated

[Anonymous]

Greetings,

I am looking to lease a Mercedes towards the end of January...beginning of February. Can you please give me all the necessary steps and/or advice in making sure I get the best rates and options? You can start with step 1 and take me all the way through *smile*  I thank you all in advance for your help!!   In addition, I follow the community often, and I closed on a mortgage(Duplex) here in Los Angeles in August. I can't begin to describe how much these forums have helped me. If I could thank everyone personally, I would...

[StartingOver10]

My advice:  don't lease. But I don't like leases at all because all you have at the end is a series of payments and no vehicle. Others here feel differently. 

Look at the top of this auto section to see tips for auto financing and auto leasing. 

[Appleman]

It is going to take some time for you to read, research and reach out to find the information.

Leasing is fine as long as you understand the process. 

Google, Mercedes Leasing and that will point you in the direction of forums that share stories from people who have actually leased Mercedes.

You can negotiate some leases, so do your homework.

Obviously, ensure your credit is in the best condition it can be when you do apply.

Good luck.

[Anonymous]

Thank you, both!!

[awp317]

I leased a mercedes S550 in july of 2016. Super simple process, we negotiated a price for the vehicle and they did the lease payment based on the negotiated price. My dealer said you get the best rate with a 730 score or higher, I was asked to prove income but other than that minor issue it was smooth sailing. I know people are against leasing but Mercedes lose so much value that my calculations for my spacific car found leasing to be cheaper than buying. 

[Anonymous]

Thank you. Greatly appreciated! Which credit report was pulled? was your dealer in Southern California?

[Anonymous]

Greatly appreciated!

[Anonymous]

In my case, I just come up into as search on Google too. Just like looking for BMW or Mercedes car leasing. After that, I have found plenty of options, but because I was a newbie in car leasing, so I cannot understand the terms used there. So, what I did was, do a little research about the car leasing glossary, and then try to udnerstand first the basic terms. After that, I contacted different car leasing websites or dealers and ask for a specific quotation for my 2017 BMW 5 Series 530i. After contacting almost 5 agencies, I ask for the specific terms and calcualtions that I don't understand, and I can say that some of them are patient and answered me well, while others are not. So, I ended up leasing my car from the DSR Leasing. This experience might help you here. :-)

[JGGM]

Leasing is fine as long as you're okay with always having a payment. i would personally work the deal from a sales price of car first and then tell them to work that price as a lease payment. If you go in and say "I want to lease a (insert vehicle)", they'll will just be showing you payments. Payments are based of sales price of vehicle, the vehicle's residual, and a money factor (for simplicity sake it's like an interest rate). Residual is published by the leasing company (so MB). Can't really mark that number up. Though it does change depending on the months and miles on the lease. The money factor can be marked up just like a buy rate from other banks. 

[Anonymous]

Thank you