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2013 and earlier-Mercedes Benz GLK-Class Lease Questions

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  • Hi 14dmuny. Mercedes-Benz Financial's February buy rate lease money factor and residual value for a 24-month lease of a 2013 GLK350 4Matic with 7,500 miles per year are .00112 and 61%, for consumers who qualify for its top credit tier.

    Car_man
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  • Thank you so much. That was the best explanation I've heard yet about leasing. I just finished asking the questions you answered here,on the Lexus RX350 forum. I was curious to see if I could find out what a mercedes glk lease would cost, since the dealership I called wouldn't even give me a ball-park figure, when i happened on your informative post. One question: why do you think leasing is a terrible deal? Thanks for your gems of wisdom.
  • ken117ken117 Posts: 196
    "The residual and money factor makes no difference, though math experts will tell you differently."

    This statement is completely false and exemplifies the common lack of understanding of automobile leases.

    Other than the capitalized cost (selling price plus extras such as registration, tax, etc.), the residual value of the leased vehicle and the money factor are the most important aspects of a lease. A high residual value and low money factor result in a lower monthly payment. The residual value is set by the manufacturer. The money factor is simply the interest rate divided by 2,400. So a money factor of .0009 is an interest rate of 2.16 percent.

    Also, leasing is not a "terrible deal!" When leasing you simply pay less for the vehicle over the lease term than you would if you bought the vehicle. Of course you will have less equity in the vehicle, but that is simply because you paid less. IMHO, leasing is best for people who are comfortable with a level car payment with no surprise repair bills and who enjoy a new vehicle every couple of years.

    It is always best to lease a vehicle from a manufacturer who is providing lease support, usually in the form of a low money factor. It is also best to lease a vehicle which has a high residual value like a Lexus or Acura.

    Edmunds has a great lease calculator. Any reputable dealer should be willing to provide the money factor and residual values. Additionally, such information is often available on Edmunds forums.

    This information and the Edmunds calculator will provide a solid estimate of what a lease payment on any vehicle should be. Smart people have this information before they visit the dealer. Knowing what the lease payment should be will help assure a good deal and avoid dealer mischief.

    There is usually no requirement for a down payment for a lease. In fact, most experts seem to agree, it is rarely wise to put any money down on a lease. All that is usually required is the first month's lease payment.

    If a dealer won't discuss cost or payments over the phone, it is probably a good idea to look elsewhere. If the dealer is not forthcoming over the phone it is likely they will not be forthcoming if you visit. Why bother with them when there are so many other dealers waiting for you to contact them. Always good to remember the dealer needs you, you don't need them.
  • residual_riskresidual_risk Posts: 5
    edited March 2013
    Hi Car_Man & kyfdx,

    I'm looking to lease a GLK 350 4Matic for 36-months with about 19K miles . Could you please tell me the Residual Percentage and the Money Factor I should be looking for?

    Currently the dealer is quoting me $42,978 (including the Premium 1 package). MSRP was $45,700. I should be able to get a $2k Fleet Discount on top of that as well. What do you think of this deal?

    Thank you!
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi residual_risk. Mercedes-Benz Financial's March buy rate lease money factor and residual value for a 36-month lease of a 2013 GLK350 4Matic with 15,000 miles per year are .00112 and 57% for consumers who qualify for its top credit tiers.

    As far as the selling price goes, the vehicle that you're interested in probably has a spread of around $3,000 between its full MSRP and dealer invoice price. There's some $1,000 dealer cash certificates out there that you should be able to convince the dealer to use on your deal as well. If I was in the market for a '13 GLK right now, I would shoot for a $3,000 to $3,500 or so discount. That's not far from where you're at right now.

    Car_man
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    Prices Paid: Buying & Leasing Experiences Forum
  • Hi Car_man,

    I am interested in leasing a 2013 GLK 350. I am open to the duration of the lease (30, 36, 48 months). Can you please let us know the Money Factor and Residual % for April with 7,500 miles per year with the above? If you can't do 7,500, then please let me know 10,000 miles.

    Thank you!
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi beast3012. Mercedes-Benz Financial's current buy rate special lease money factor for a 2013 GLK 350 4Matic is .00112 for all terms up to 48 months. Its 7,500 mile per year residual values are 71% for 24-months, 66% for 30-months, 61% for 46-months and interestingly 48% for 48-months.

    The residual values for leases with 10,000 miles per year would be 1% lower.

    Car_man
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    Prices Paid: Buying & Leasing Experiences Forum
  • coyote_bobcoyote_bob Posts: 2
    Getting ready to lease a GLK250. Any info on money factor and residual value for a 36 month, 10,000 mile per year lease?
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hello coyote_bob. Mercedes-Benz Financial's May residual value for a 36-month lease of a 2013 GLK250 is 62%. Mercedes isn't providing any lease support on this new model yet, so its money factor would be MB Finance's standard.

    Car_man
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    Prices Paid: Buying & Leasing Experiences Forum
  • coyote_bobcoyote_bob Posts: 2
    Thank you Car_man. Had to purchase the car instead of lease. Finance rates are really low for top tier credit. Money factor was .00300 - too high. Purchasing was a no-brainer. Car is a dream. Actually gets 38 mpg's for freeway driving. Handles well and is very quiet. Thanks again.
  • colt311colt311 Posts: 17
    Hi Car Man,
    Could you please tell me what the RV% and money factor would be to lease a GLK320 for 36 months @10,000. If there isn't a MF published what is the MB standard MF rate for Tier 1 credit.
    Thank you!!
  • beast3012beast3012 Posts: 2
    Agree with coyote. Thank you car man for all the information!
    Was about to do a lease, but Decided to buy as well - over 5k off msrp and under 2% interest rate, no MB financial lease fee.
  • flacrabbflacrabb Posts: 4
    Hi Car Man - Will you please provide the residual and MF for a 24 month, 12K mile/yr. GLK350 lease?
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    You're welcome coyote_bob. Yeah, Mercedes was offering some very attractive retail finance rates on the GLK (they're gone now). 38 MPG is outstanding for a vehicle that's this useful. Enjoy!

    Car_man
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    Prices Paid: Buying & Leasing Experiences Forum
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi colt311. Mercedes-Benz Financial's current buy rate lease money factor and residual value for a 36-month lease of a 2013 GLK 350 4Matic with 10,000 miles per year are .00118 and 60% for consumers who qualify for its top credit tier.

    Now that I think about it, you might have been talking about the Diesel model, which used to be the 320, but is now called the GLK250. The numbers for a Tier 1 lease of that model are .00205 and 62%.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    You're welcome colt311. That's a good point about the fees. The $795 acquisition fee and $595 disposition fee add up to quite a bit.

    Car_man
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    Prices Paid: Buying & Leasing Experiences Forum
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Here's the information that you're looking for flacrabb. Mercedes-Benz Financial's June buy rate lease money factor and residual value for a 24-month lease of a 2013 GLK350 4Matic with 12,000 miles per year are .00118 and 69% for consumers who qualify for its top credit tier.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • glayfan40glayfan40 Posts: 27
    Just finished a deal for a 24mo, 12K mi/yr lease. Details below:

    Steel Grey - $720
    Premium 1 - $3450
    Heated seats - $750
    Becker Pilot Map pre-wire - $200
    Destination - $905
    Total - $44615

    Sale Price - $40,000
    RV - $32,122.8 (72%)
    Cal. MF - .0020
    Mo. Payment = $514 (incl. 6.25% tax)
    Total Out-of-Pocket: $1750 ($441 tag/doc, 1st payment, acquisition fee)

    Hope this helps!
  • cjra78cjra78 Posts: 2
    Hi Car Man
    I got a quote for the GLK 350 with one pay, please confirm if the price is OK
    MSRP is $43.595 (P1 without pano) total one pay is $10,400(includes tax, fees, etc)
    thank you in advance
  • cjra, What time period and mileage limits?
  • cjra78cjra78 Posts: 2
    24 months and 7500 miles
  • debndebn Posts: 6
    Car_Mar, do you know the July money factor and residuals?
    Thank you kindly!
  • richzrichz Posts: 125
    Yes, please post for 15K miles as well.
  • richzrichz Posts: 125
    Come on hosts, please respond!!
  • debndebn Posts: 6
    Currently, the 24 month lease is the sweet spot. I ended up getting 10% off MSRP, a ,money factor of .00118 and residual of 69% for 12k miles. The residual drops to 67% for 15k miles.
  • richzrichz Posts: 125
    Thanks man, so hard to get information on incentives, money factors, residuals, etc. these days.
  • tvboytvboy Posts: 1
    edited August 2013
    Does anyone know the money factor for August? I went in the other day and got a quote on a 2014 GLK that was around $46500. I owe $1200 on my current lease. In total, they quoted me $4000 down + 515/month for 2 years, 15K miles/year. That's including the $1200 I still owe. What do you all think? Also, they kept on claiming that a 2 year lease is better than a 3 year because I'll get out of the car before I have to change the tires and breaks. Your thoughts are appreciated.
  • I am looking at the GLK 2014 msrp $55,955 would like to lease for 36 mos, 12miles. Any one know what an acceptable lease agreement would be. I will be offering 49,000, or possibly 51,000 need help my first lease. what is the rf?
  • I am in the Ricmond Va area.
  • gl5gl5 Posts: 1
    Is 640 lease payment too high for GLK350? $50,000 MSRP....2,000 down?
This discussion has been closed.