How to Get “the” Mercedes EQS Deal (Superthread)

Photo Credit: @Shakey22 on Leasehackr Forum

Last month, we shared a member’s EQS deal that we deemed a “unicorn” and not replicable: $497/month for a $105,000 sedan that Mercedes considers their S-Class of EVs.

It seems some in the Leasehackr community took that as a challenge, as weeks later, members scored one EQS deal after another, such as this $656/month deal, this $445/month deal, this $482/month deal, this $650/month deal, and more.

To help out the community, members contributed to an EQS superthread with pointers for those seeking to hack a Mercedes EQS lease. Here is an excerpt from all-star user @Kellstar on how to get an EQS deal in March 2023:

How to get a good deal on an EQS

1. Agree on a discounted selling price before incentives. 20% or more off MSRP would be hardest to find but of course will be cheapest.

2. Get all your incentives ready. The maximum discount is $12,500:

$7,500 EV credit: Everyone qualifies.

$1,500 EV conquest: Current owners of EVs and maybe plug-in hybrids qualify.

$3,500 Affinity via Navy Federal/Sams Club: Not all dealers accept this and it can be difficult. Should you not qualify for Affinity rebate, you automatically qualify for a $2,500 rebate instead. Affinity and the $2,500 rebate do not stack.

3. Know the base money factor (see Rate Findr). This can be marked up by the dealer.

4. Use a one-pay lease or do multiple security deposits (MSDs) to bring down the money factor.

Pro tip: If you are doing one-pay or MSDs, put it on a credit card to earn a big bonus. This will reduce your cost of ownership. Mercedes dealers I have dealt with have been more than willing to put large amounts on a credit card. However, your mileage may vary; don't let this be a dealbreaker.

5. Realize this is an actual lease that likely will have no lease equity and that you are on the hook for $10-20K over the span of two years with almost no way to exit. MBFS does not allow lease transfers.

Thankfully, there’s now an EQS Superthread on Leasehackr Forum!
Source: @Justlooking, Leasehackr Meme Lounge

Leasehackr’s Take

As with any deal, your results may vary.

These particular deals are largely the result of a supply and demand imbalance. Mercedes sent dealers far more EQS sedans than they can sell at MSRP. As inventories dwindle (we’ve heard stories of dealers being inundated with calls on the EQS), dealers will have less of a reason to sell their EQS inventory at a steep discount, and Mercedes corporate may cut back on customer incentives and dealer cash in the months ahead.

If you’re interested in an EQS deal, it’s not going to be easy. Be sure to spend a good chunk of time learning about how leases work and the numbers that go into a lease calculation. Learn how to communicate effectively and courteously with dealers, too. You cannot price match your way into a unicorn deal by showing someone else’s lease contract, and for goodness’ sake, do not spam dealers with some 800-word email template found on YouTube.

There are so many factors that go into how a dealer prices a vehicle at any given time, so it’s worthwhile to cast a wide net. Each dealer can only afford to sell a certain number of vehicles, or specific vehicles from their inventory, at a steep discount or a loss. Be savvy when searching for inventory; learn how to identify a demo car. Be willing to travel, if needed.

Also, be ready to jump on a deal before it’s sold under you — either purchased by a dealership employee because it’s such a good deal, or by another customer. You’ll have to be ready to make a quick decision if the deal is right for you. Know there will always be someone who gets a better deal than you, as well as many who will pay far more.

Finally, test drive and read up on the car, too. We understand that interest in the EQS is largely predicated on the deal — the potential to drive a $100K car that most cannot otherwise afford. But there are other vehicles to be had, including plenty more choices on the Marketplace, that could suit your needs better and are more readily available. Be sure you are happy living with the EQS before you sign.

Happy Leasehacking!

Source: @Justlooking, Leasehackr Meme Lounge