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December 17, 2015 Update: We've been alerted that the FEP incentive cannot be combined with the Winter Event certificate. The article has been updated accordingly. As you'll see, the marginal benefit of the $3,500 FEP incentive is only $500, because there's currently a $3,000 Winter Event certificate on E-Class. (2016 Mercedes-Benz E-Class Sedan) Are you a doctor? A USAA or United MileagePlus Premier member? Do you work for a large company, such as Apple, Costco, or Starbucks? If so, you might qualify for an incentive under Mercedes-Benz's Fleet Employee Program (FEP).How big is the incentive?It ranges from $0 on a GLC-Class to $7,000 on the purchase of a B-Class Electric Drive. The incentive comes directly from Mercedes-Benz, so it does not eat into the dealer's profits. FEP Incentive Amount (Through January 4, 2016) $3,500 ($7,000 if not leased) Who is eligible for the FEP incentive?Eligibility is surprisingly broad; we know plenty of folks who qualify but didn't know when they leased their Mercedes.
American Medical Association, USAA, and United MileagePlus Premier members qualify for the FEP incentive, as do employees of the following companies: A.P. Moller - Maersk Group Allianz Life Insurance Company Mass Mutual Life Insurance Medical Society of NJ Met Life Auto & Home Insurance Company Burlington Northern Santa Fe RR Chubb & Sons Group Philips Electronics North America Compass Group USA Division R. J. Reynolds Tobacco Company S A P America S A S Institute Saks Fifth Avenue Enterprises Southern Wine & Spirits Southwest Airlines Credit Union State Farm Mutual Automobile Insurance Factory Mutual Insurance Group The Bank of New York Mellon Pershing The Great A&P Tea Company Tishman Realty & Construction Turner Construction / Logistics University of Alabama System International Flavors & Fragrances Wells Fargo / Wachovia W.L. Gore & Associates J.D. Power and Associates
Prior to using the FEP incentive, you will need to obtain a Control Number and/or the corresponding program form. How does it translate into deals? (2016 E250 BlueTEC sedan) Take the E250 BlueTEC, for example, which has one of the highest residual values of any Mercedes-Benz. Assuming a sticker price of $58,205, we believe an excellent but realistic selling price is $49,000 (including the $3,000 Winter Event certificate). If you qualify for FEP, you can swap the Winter Event certificate for the $3,500 FEP incentive (unfortunately, the two cannot be combined), further lowering the selling price to $48,500. Factor in the $795 acquisition fee, and the net capitalized cost becomes $49,295.At 10,000 miles per year, the 24-month residual on E250 BlueTEC is 68% of MSRP, or $39,579. This results in a depreciation expense of $9,716, or $405 per month.The money factor rate on the E250 BlueTEC is .00102 (2.5% APR); however multiple security deposits (MSDs) (10 of them) and auto-pay will lower the rate to .00022 (0.5% APR).
At that rate, the monthly finance charge is $20 per month.Add the monthly depreciation expense and the monthly finance charge, and you get the monthly lease payment: $425 per month.Here's what you should expect when all is said and done. We've added in sales tax (assumed 8%), license/registration, and fees. 2016 E250 BlueTEC Sample Lease - Total Drive-Off First month's payment (after 8% tax) Dealer document fee ($80 max. in CA) TOTAL DUE AT SIGNING Did you recently lease a Mercedes? Share your deal below. Money Factor with One-Pay Lease Discount: Money Factor after MSD: Monthly Payment (Excl. Tax): Monthly Payment (incl. tax):The Recorder names SWCK one of "the top 10 go-to plaintiffs employment firms in Northern California" More » SWCK wins historic victory for disabled students at 9th Circuit More » Judge certifies ERISA class action against State Street. Appoints Schneider Wallace co-class counsel. Schneider Wallace Appointed Co-Lead Counsel in Securities Class Action Against Penson Worldwide, Inc.
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