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2013 and earlier-Mercedes Benz GLK-Class Lease Questions

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  • I haven't shopped recently but I would do that deal. May I ask what dealer you're talking to? Thanks!
  • Hi btedstrom. Here's the info that you're looking for. Mercedes-Benz Financial's October buy rate lease money factor and residual value for a 36 month lease of a 2010 GLK350 4Matic with 10,000 miles per year are .00247 and 54%, respectively.

    Car_man
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  • We are buying a house with a garage door too narrow for our MDX, so we are looking at the GLK. We'd like to lease it but are in no huge rush - do you think we'd be better off doing a deal now / December on a current year model, or would it make sense to wait for 2011s, if there is a chance that their residuals would be higher?
    Also, I see people mentioning deals below invoice - are there current dealer incentives that make those deals possible? Thanks.
  • THE BEST DEAL I COULD FIND SO FAR ON A 2010 GLK4WD

    P1 PACKAGE
    MULTIMEDIA PACKAGE
    APPEARANCE PACKAGE
    HEATED SEATS
    IPOD/MP3 INTERFACE
    PANORAMIC SUNROOF

    10,000 MI ---
    $599.00 MO--39 MO. LEASE

    MY ONLY PROBLEM WITH THIS IS THEY WANT $3756.00 UP FRONT FOR TAXES ,TAGS, AND FEES. TAXES AND TAGS SHOULD NOT COST MORE THAN 2000.00 . I'M HOPING I CAN GET AWAY WITH NOT PAYING THE RIDICULOUS FEES.(BANK FEE AND DOC FEE). PLUS IS THERE ANY WAY OF GETTING OUT OF THE RETURN FEE ( ABOUT 500.00) AT THE LEASE END?
  • I'm looking for the current MF and Residual for a 2010 GLK. 12,000 MI, 36 Month.
  • vinrunvinrun Posts: 11
    At the end of your lease, if you lease another Mercedes there will be no $500 fee. This is called a disposition fee. I agree that this fee stinks!
  • Hi redbull321. Here's the information that you're looking for. Mercedes-Benz Financial's current buy rate lease money factor and residual value for a 36 month lease of a 2010 GLK350 4Matic with 12,000 miles per year are .00213 and 53%, respectively.

    Car_man
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    Prices Paid: Buying & Leasing Experiences Forum
  • I am starting to research which Small SUV to go with and I was leaning towards Q5 till I realized it was 700+ to get it the way I want...From reading here it looks like the GLK is more aggressive in terms of pricing...Did anyone who bought GLK compare to Q5 and am I assuming correct on the pricing?
  • waltazwaltaz Posts: 123
    Hey car man...what are the lease numbers (MF and residual) for the GLK RWD and AWD for 36 months and 18K miles/year. Thanks, Walt.
  • Here you go, Walt. Mercedes-Benz Financial's current buy rate lease money factor and residual value for a 36 month lease of a 2010 GLK350 AWD with 15,000 miles per year are .00277 and 55%, respectively.

    The numbers for an otherwise identical lease of a 2WD model sre .00300 and 55%.

    15,000 miles per year is the highest mileage allowance that MB Financial publishes residual valuees for. If you need to drive more than this, you will have to purchase additional miles on a per-mile basis. It is less expensive to do so at lease signing than it is to wait until lease-end and have to pay an excess mileage penalty.

    Car_man
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  • MB Advertised Lease?

    Hey car man can I expect to do any better at the dealer than the advertised lease they have out on the 2010 GLK350W4 equipped with Premium package (P1), Heated Front Seats, and MSRP of $41,365. Dealer contribution of $1,075 required for the $489 lease special?
    39 Month Term
    $3750 Down Payment
    NA Security Deposit
    10000 Annual Mileage

    Do you have any idea what the May rates will be higher or lower than they are now?
    Thanks
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hey landrover1. Generally speaking, manufacturers' advertised lease payments leave a little meat on the bone so to speak. MB's official payment on the 2010 GLK350W4 assumes a dealer discount of around $800. The advertised vehicle probably has a gap of around $2,600 between its full MSRP and dealer invoice price. That means that the price used in the ad is probably around $1,800 or so over invoice. There's definitely some room to play with there. Ask the dealer to knock another grand off of this truck's selling price and see what happens. Either that or comparison shop a little. You don't have anything to lose by trying to get this vehicle for a little bit less.

    Mercedes-Benz's February lease program is scheduled to run through today, March 1st. It is difficult to say what its May program will be like at this point.

    Car_man
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  • jackykwjackykw Posts: 11
    Hi Car_man,

    Do you think the March program will be better after March 1st? Thanks.
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi jackykw. We won't know officially until tomorrow when manufacturers officially report their U.S. sales, but according to everything that I have heard February was a lousy month for auto sales. I have heard general rumblings that many manufacturers plan to get more aggressive with their promotions, but nothing specific about Mercedes-Benz yet. If I was in the market for a new GLK, I personally would wait to see what the March programs are like. Having said this I must add the disclaimer that it is difficult to predict exactly what manufacturers will do with their future programs and there's no guarantee that the March program won't be worse.

    Car_man
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  • jackykwjackykw Posts: 11
    Thanks Car_man, I totally understand. I am in search of Leasing a GLK 350. Base on the Feb MF and Red. It looks like the W4 is better deal than the W2. Am I correct?
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    No problem, jackykw. You're correct, the 4WD GLK's lease program has been consistently slightly better than the 2WD version's program.

    Car_man
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  • jackykwjackykw Posts: 11
    Hi Car_man,

    I have some simple leasing questions but I always got different answer from time to time. I understand different states has different rules for the tax you paid for the leasing car. In my understanding, the only tax I need to pay for the car should be my local county tax rate of the leasing monthly payment (I live in California BTW). However, some people told me the tax is based on the MSRP and into your monthly payment. I got really confused now. Can you help me to clearify this?

    Also, is that true the MF and the Red are the sam as last month for now for the GLK 350 2W and 4W? And will there be any different for the 12k and the 15k?

    Thanks a lot.
  • zeus1zeus1 Posts: 5
    I'm looking for the MF and Residual % on the GLK 350 4matic for 36 months and 15,000 miles per year.
  • vsc1vsc1 Posts: 1
    HOW DO THEY ARRIVE AT THE $$ DUE AT SIGNING AMOUNT.
    i just purchased a 2010 GLK.
    P1 package,multimedia,sport appearance,ipod & heated seats.

    total 45,985.00
    15k per year
    36 month lease.

    605. per month
    5025.00 due at signing

    ** oh,and he threw in tinted glass no charge**
    am i in the ball park ?i always walk out thinking i was mugged.
  • jayriderjayrider Posts: 3,293
    If that includes taxes you did very well. If taxes are on top then it is just average -- not bad -not great. Rolling as much of the 5k down into the lease is the best way to go. The payments will be about $150 more per month. Put the 5k in the bank and draw down on it to effectively lower your monthly cost.
    What was your msrp, discounted price, moneyfactor, and residual?
  • econ101econ101 Posts: 4
    Hi Car Man, the following is a quote I got, would like your inputs. Thanks!

    2010 GLK 350W4,
    MSRP including destination & Delivery $47,865
    Cap Cost $44,166
    36 month, 7,500 miles/yr
    59% residual
    Money Factor .00183
    Monthly Payment $665 including 9.5 %tax

    $1,288 drive off, - $1st payment $665+ Sales TAx upfrant $4.28, 1st yr Fees $574, other upfront Fee $45.

    Thanks again.
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi jackykw. Some states charge sales tax on only your lease payment, others charge tax on the vehicle's entire selling price. I'm not sure how sales tax is calculated on leased vehicles in your area

    Mercedes-Benz Financial's current buy rate lease money factor and residual value for a 36 month lease of a 2010 GLK350 2WD with 15,000 miles per year are .00204 and 55%, respectively.

    The numbers for an otherwise identical lease of a '10 GLK350 4WD are .00183 and 55%.

    If you were to lease with only 12,000 miles per year, these vehicles' residual values would be 2% higher.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi zeus1. Please see my previous post for the information that you're looking for. Good luck and let us know if you have any other questions.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi econ101. The money factor that you were quoted is right in line with Mercedes-Benz Financial's buy rate for this vehicle. That's a good thing.

    Let's look at the other negotiable aspect of this deal, the selling price. While I don't know for certain because I'm not sure how this truck is equipped, it looks to me as though the selling price that you were quoted is right around or possibly even slightly under dealer invoice. That's an excellent deal.

    If you like the GLK, I personally don't see any reason not to go for it.

    Car_man
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  • jackykwjackykw Posts: 11
    edited March 2010
    Thank you Car_man for answer my question.

    I am currently in California right now, is the tax only on the lease payment? I tried to find the answer online, but I got mixed answer everywhere and I think I should better ask the expert here. =)

    I also have another question. Last time I went to MB, the rep told me that MB financial only use TransUnion credit score, is that correct? Also, in order to get the money factor .00204, what credit score I need to be in? I got 737 from TU and about the same on the other two, do I quailified to that? Thanks.
  • kyfdxkyfdx Posts: 28,644
    California taxes the monthly lease payment...

    However, anything paid upfront is also taxed (acquisition fee, doc fee, cap cost reduction).

    regards,
    kyfdx

    MODERATOR
    Prices Paid, Lease Questions, SUVs

  • jackykwjackykw Posts: 11
    Thanks kvfdx,

    That totally answer the tax question. Thanks kcfdx.

    Now I just need for the Credit score of which MB financial using for Tier 1. Thanks.
  • jackykwjackykw Posts: 11
    Hi Car_man,

    I am able to lease a car tomorrow and the sale rep told me that the acquisition fee for it is $1095.00 and Doc fee $45, and they are going to charge tax on them.

    My question is everywhere I saw the acquisition fee is $795 and she told me that CA is $1095.00 Is that truth? Also, can they charge sale tax on it even it is not a product? Thanks.
  • kyfdxkyfdx Posts: 28,644
    The base fee is $795.. MB Finance allows them to mark up the fee for extra profit (which they are doing).

    CA decides what is taxed... Acquisition fees and doc fees are taxed in CA (as they are in most states).

    MODERATOR
    Prices Paid, Lease Questions, SUVs

  • jackykwjackykw Posts: 11
    Thanks people.

    Got the car yesterday. 36-mon lease.
    MSRP: $40545
    OTD: $40000

    Wasn't able to get the 0.00204 due to credit. Got 0.00221 at the end with about $2300 drive off includes acquisition fee+doc fee+$525 first month+DMV+about $580 cap deduction.

    Do you think it is a good deal for a 36-mon/15K lease? Thanks.
This discussion has been closed.