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2013 and earlier-Mercedes Benz GLK-Class Lease Questions

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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi westiethewilly. there's nothing wrong with leasing a used vehicle, IF you are able to lease one for significantly less than what it would cost to lease a similar new vehicle. The main problem that I have with used vehicle leases is that traditionally manufacturers have provided much less support on them. As a result, it often turned out that the payments on used vehicle leases were fairly close to, or in some instances even more expensive than, the payments on similar new vehicles.

    Banks provide dealers with a list of dollar residual values that they have to use to calculate the depreciation portion of used vehicle lease payments. The other half of the payment, the interest portion would be calculated using the selling price that you are able to negotiate.

    Car_man
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  • crestonavecrestonave Posts: 219
    I'm far from an expert - I'm just a plain old consumer - but I would never lease a car for longer than it's bumper to bumper warranty. It seems to me that if a car comes with 3/36 and you lease for 39 months, you run the risk that in the 38th month you'll encounter a major, costly problem with the car which you'll be responsible for repairing, and then turning the car in a month later. I know folks sign on for leases like this all the time, but I wouldn't. Perhaps I'm just overly cautious, but I think the possibility is something to consider when deciding on what lease to sign.
  • jayriderjayrider Posts: 3,263
    Even if the car seems ok mechanically when you turn it in, I have concerns the dealer will do a 1000 point inspection looking for problems to fix. On your tab of course.
  • Hi Car Man. I have a new GLK on order from Germany, and my purchase/lease terms will be set once it arrives later this month. A dealer in the Seattle area agreed to invoice + $500 for a loaded AWD model.

    Any word on the residual and money factor for June? We'll probably only need 10,000 miles per year. Thanks in advance.
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi rlinseattle. $500 over dealer invoice is an excellent selling price for a GLK450. Here's the info on the leease program that you need.

    Mercedes'Benz Finance's current buy rate lease money factor and residual value for a 36 month lease of a 2009 GLK450 2WD with 10,000 miles per year are .00290 and 54%, respectively.

    Car_man
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  • njjoenjjoe Posts: 1
    just signed a sign & drive lease. "EVERYTHING ROLLED IN "
    glk 4matic
    metallic black
    Premium1 package
    Appearance package
    ipod kit
    and crome handle inserts
    10k miles/year

    $600/month good deal?
  • Hey, thanks for the post i was wondering what dealership in NJ did you get that quote from? I think its a great deal b/c in NY i was getting the same SUV with similar packages for 750 per month (0 down including taxes). thx
  • julies2julies2 Posts: 1
    Hi Car_man
    Do you have any info on the July MF and residual for the GLK 350 AWD for a 10,000 mile, 36 month lease?
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    I sure so, julies2. Here you go. Mercedes-Benz Finance's current buy rate lease money factor and residual value for a 36 month lease of a 2010 GLK350 AWD with 10,000 miles per year are .00247 and 54%, respectively.

    Car_man
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  • sw286sw286 Posts: 6
    hi car_man,

    with your number provided. how much will be the monthly payment if 0 down ? assuming MSRP $43000

    thanks
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hey sw286. This truck's monthly payment will depend upon its selling price. For now I will assume that you are able to negotiate a $2,000 dealer discount. According to my calculations, if you were to lease a 2010 GLK350 AWD that has an MSRP of $43,000 and a selling price of $41,000 through Mercedes-Benz Finance right now for 36 months with 10,000 miles per year, your zero down, pre-tax monthly payment should be around $653.

    Car_man
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  • btedstrombtedstrom Posts: 4
    Working deal here in Seattle to trade an '06 ML 500 that I leased thru MB Finance on a new GLK 4Matic, and came across a few bumps with the dealer. I figured MSRP and took 7% off to come to Invoice. I offered to go $500 over invoice, and was ready to make the deal, then the adds started coming:

    •MB Advertising $600
    •Prep - $200'ish
    •Detail - $160
    •Lease Acquisition Fee - $1,095

    I'm feeling nickled and dimed. Are these reasonable charges? Thoughts/Advice?
  • Piaya20Piaya20 Posts: 8
    Hi Car_man,

    Do you also have any info on the current money factor and residual value for a 36 month lease of a 2010 GLK350 4MATIC with 15,000 miles per year ? Thanks!
  • Any updated / new programs for an August lease on a GLK 350?
  • Hello, I have been following this discussion thread and I had a few questions about my potential deal on a 2010 GLK 350 4Matic. Dealership is in NYC.
    Here are the vehicle options:
    413 Panorama Sunroof
    322 Appearance Pkg
    319 Lighting Pkg
    846 Running Boards

    Total MSRP including Destination fee of $875 is $40825. Invoice is $38028. Selling price is $36450. So I only got $1578 below Invoice and $4375 off of MSRP.

    Is that a good deal?

    Also, my lease was coming out to be around $575 with no money down at all.
    I don't know about Money Factor numbers or percentages on this deal. I got that lease payment quote back in July, and I had to special order this vehicle from Germany because it was not possible to locate. Are there better rates for August on leasing?

    My main question is: do I really have to pay advertising fees, bank aquisition fees, dealer prep fees, etc. Or are these things that the dealer will try to stick me with because I got a good deal on the selling price of the vehicle?

    Any help greatly appreciated!

    Thanks
  • crestonavecrestonave Posts: 219
    Question: does the 575 include tax?

    Comment: I would question the dealer prep fee. How could they deliver a car to you without "prepping" it? What does "prep" mean exactly? If they don't prep it, will they deliver the car to you exactly as it comes off the truck? Dirty, wrapped in plastic, etc?
    I find it hard to believe a premium brand like Mercedes which claims to treat it's customers top shelf would charge to prep a car.
  • Hi crestonave, yes the $575 included the tax. So your saying I should tell them to shove the prep fee, but I have to pay everything else, right? Or can I tell them that I am not willing to pay any other charges like advertising fees?

    What do you think about the deal in general?

    Thanks for the quick reply!

    Tom
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    I sure do, Piaya20. Here you go. Mercedes-Benz Financial's current buy rate lease money factor and residual value for a 36 month lease of a 2010 GLK350 4Matic with 15,000 miles per year are .00247 and 51%, respectively.

    Car_man
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  • doheny1doheny1 Posts: 5
    I was quoted the following from a dealer. Is it a good deal? I am referring specifically to the lease figures. It is a 24 month lease. Do you think I can get it lower?

    GLK 350 RWD Black exterior, black leatherette interior, panoramic sunroof.

    MSRP 36,255
    Sale Price: 32,250

    Lease figures: 24 month lease, 7,000 due at signing, 469 per month, 10,000 miles per year.

    Thanks for your help.
  • vchadvchad Posts: 97
    PLEASE do not buy the car at that price. Putting 7k down is crazy on that lease, thats a terrible deal. id never put anything more than upfront fee's.

    If you look on above posts, you should be in high 400's and low 500's with barely 1k out of pocket. Do not ever put that kind of money down on a lease.
  • doheny1doheny1 Posts: 5
    Wow, thanks for your reply. So for a 24 month lease a $1,000 down at signing and about $470 a month is reasonable?
  • doheny1doheny1 Posts: 5
    Car_man Or anyone else that knows:

    What can I expect to pay for a GLK 350 on a 24 month lease with black interior, black exterior, and panoramic sunroof? If I put about 1,000 down what would be a reasonable monthly payment? For some reason the dealers don't seem to be willing to go below 750 or 800 a month with 1,000 down? Isn't that way too much? Please help.
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi doheny1. I would be happy to work up a lease payment on this truck for you using Mercedes' actual lease program. However, in order for me to do so, I need you to provide me with ideally this truck's MSRP and approximate selling price...or at least just the MSRP. Let me know and I'll crunch some numbers.

    Car_man
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  • polyslopolyslo Posts: 2
    I was looking at the 4MATIC GLK 350 yesterday. They had to do a dealer trade for a particular color. The one we were looking at had a base MSRP of 35.9K. However it had too many miles on it. He found another with less miles and the same exact option, with a higher base MSRP of $36.6. He explained the difference due to the cheaper one being a factory demo. I checked MBUSA web site, and the MSRP is $36.6, but edmunds is reporting $35.9. Can anyone enlighten me on the difference? Thanks.
  • njjoe-

    What dealer and salesperson did you use to get this deal?

    Thanks.
  • Please let me know what dealer and the saleperson you worked with for this deal.

    Thanks.
  • Hi Car_man,

    Do you have Mercedes-Benz Financial's current (for SEPTEMBER) rate lease money factor and residual value for a 36 month lease of a 2010 GLK350 4Matic with 15,000 miles per year ?

    We have asked for a quote way back in July from a dealership in PA and it was .00247 and 51% respectively (just like what you said in your previous post). This month, it seemed like the money factor has increased.

    Thank you so much.
  • I certainly do, Piaya20. Here you go. Mercedes-Benz Financial's current buy rate lease money factor and residual value for a 36 month lease of a 2010 GLK350 4Matic with 15,000 miles per year are .00247 and 51%, respectively. Amazingly, these numbers haven't changed since the last time I gave them to you several months ago.

    Car_man
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  • You're in NY? I ask because I'm trying to determine how much of that payment is tax. What's the mileage allowance?
  • carman, any idea on the money factor and residual on a 36 month lease of a 2010 GLK350 4Matic with 10,000 miles?
This discussion has been closed.