Just hoping I can get some feedback on this deal...
My husband and I were at the dealership today...we haven't locked into anything, but for a 2004 SL AWD w/ Touring here's the lease deal he gave us:
36 month lease/12,000 miles
MSRP - 36,260 (Edmunds says 35,490)
Sales Price - 31,900 + TTL
Money Factor - .00145
Total Out of Pocket at signing - $1200 (security deposit, processing fee, 1st month's payment)
$465/month lease payment
The only thing we're not clear on is the residual. He said the residual is around 52% but he never clarified. I'm going to call him back and ask.
Does this sound like a good deal? Is anyone familiar with typical money factors? Can anyone compare to their lease experience?
FYI - we're in DC metro area.
Thanks!
My husband and I were at the dealership today...we haven't locked into anything, but for a 2004 SL AWD w/ Touring here's the lease deal he gave us:
36 month lease/12,000 miles
MSRP - 36,260 (Edmunds says 35,490)
Sales Price - 31,900 + TTL
Money Factor - .00145
Total Out of Pocket at signing - $1200 (security deposit, processing fee, 1st month's payment)
$465/month lease payment
The only thing we're not clear on is the residual. He said the residual is around 52% but he never clarified. I'm going to call him back and ask.
Does this sound like a good deal? Is anyone familiar with typical money factors? Can anyone compare to their lease experience?
FYI - we're in DC metro area.
Thanks!