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2013 and earlier-Mercedes Benz GLK-Class Lease Questions

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  • ksuh2000ksuh2000 Posts: 5
    edited April 2010
    Just got a quote on 2010 GLK in NJ dealer.
    1) MSRP 41,740
    P01 package
    4,000 down(1st month, acquistion fee and cap reduction)
    499/mo incl tax
    10,000 miles/36mo

    2) MSRP 43,195
    4,000 down(1st month, acquistion fee and cap reduction)
    525/mo incl tax
    10,000 miles/36mo

    Thet said this is like a house deal. Any thoughts? your inputs will be very much appreciated.
  • beerman2beerman2 Posts: 1
    Do you have the MF, exact amount of cap cost reduction you are paying, final cap cost (or selling price) of the car, and residual value? Also, how much is the acq fee?
  • aroedaroed Posts: 1
    Is it advantageous to pay my entire lease off up front (every dealer has told me not to do that since I don't save any money). Therefore I'm less concerned about monthly payment and rather what the FINAL lease will be in 3 yrs. Here is a quote I received in California:

    39 months = $20688/12k miles/yr

    I don't intend on buying this lease at the end.

    Any suggestions would be appreciated.
  • ckungckung Posts: 42
    Hi jacky:

    Which dealership you went to? if u don't mind to share

    Thanks
  • ckungckung Posts: 42
    HI Car-Man:

    Just wondering if you can provide the MF and % of residual of 2010 GLK for 36 months and 12,000miles per yr.

    Thank you for your help
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi ckung. 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 4WD with 12,000 miles per year are .00164 and 55%, respectively.

    Car_man
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  • ckungckung Posts: 42
    Car_Man:

    Thanks. What about for the GLK350 FWD? Does it have the same residual and money factor?

    thanks
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    You're welcome, ckung. The numbers for a 36 month, 12k lease of a '10 GLK350 2WD are .00186 and 55%, respectively.

    Car_man
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  • icb2779icb2779 Posts: 25
    What kind of lease numbers are you getting?
  • ckungckung Posts: 42
    Car-Man:

    Does the MF and % of residual for GLK FWD/AWD changed for June?

    thanks
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hello ckung. Mercedes-Benz Financial's current buy rate lease money factor and residual value for a 36 month lease of a 2010 GLK 350 AWD with 15,000 miles per year are .00180 and 53%, respectively for consumers who qualify for its top credit tier.

    The numbers for an otherwise identical lease of a 2010 GLK 350 2WD are .00203 and 53%.

    Car_man
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  • tonyinnctonyinnc Posts: 6
    Carman,

    Can you give me the MF and residual for the July lease special for the GLK350 36mo 30K miles on a AWD? The 479/mo with $5K down sounds o.k. but I'd like your opinion if we can do better. It assumes a MSRP of $41,365 with a buy down from the dealer of $1072.
    Also, I am weighing this against the current RX350 lease special. The Lexus plan looks better since it is a lower payment on a higher MSRP vehicle with less up front money. I am assuming the MF must be lower. I'd like your opinon on this as well. Many thanks.
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    I'd be happy to, tonyinnc.

    Mercedes-Benz Financial's July 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 .00180 and 56%, respectively.

    As far as this truck's selling price goes, while I don't know its exact dealer invoice price, there is probably a $2,800 or so spread between its full MSRP and its dealer invoice price. If I was in the market for one and I was in an area that has a decent level of competition, I personally would shoot for a selling price of $500 to $1,000 over invoice...which probably would amount to at least another $800 off of the price that you were quoted.

    The money factors on the GLK and RX are about the same, but Lexus Financial Services' residual values are a coupe of points higher than Mercedes-Benz Financials...making the RX's program a little more attractive right now.

    Car_man
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  • tonyinnctonyinnc Posts: 6
    Thanks Carman.

    After crunching numbers I wound up going a different way and would like to get your opinion of the deal. I found a pre-owned (not CPO) 2010 GLK350 with Premium Pkg, full Navi, heated seats, and metallic paint with 13K miles. MSRP was just over $45K and was able to pick it up from AAA for $37K + TTL. Car has been in service just a little over a year and has 37K miles of warranty left. I was also able to pick up financing at 2.89%. I am comfortable with that deal but wanted to know if you think I left some $ on the table. Thanks for your help and opinion.
  • jayriderjayrider Posts: 3,297
    If you are happy with your deal why worry about what you might have left on the table. Enjoy your mercedes -- nice truck.
  • ckungckung Posts: 42
    edited August 2010
    Car_Man:

    Can you please provide the latest (Aug) MF and residual for GLK350 FWD for 36 months and 12,000miles/yr ?

    Thanks a lot
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    You're welcome, Tony. I'm not intimately familiar with the market value for used GLKs, but it sounds like you got an attractive deal to me. Where did you get that unbelievably low finance rate?

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    I'd be happy to, ckung.

    Mercedes-Benz Financial's current buy rate lease money factor and residual value for a 36 month lease of a 2010 GLK350 FWD with 12,000 miles per year are .00260 and 53%, respectively for consumers who qualify for its top credit tier.

    When negotiating your deal on this vehicle, make sure to take advantage of the $1,500 dealer cash that is currently available on it.

    Car_man
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  • ckungckung Posts: 42
    Car-Man:

    Thanks a lot. Do you think MBZ will have a better deal (both MF and % of residual) than current offer for GLK350 in Sept or at the year end?

    Thanks
  • kooperkooper Posts: 1
    Car Man:

    Am dealing with a tough manager at MB dealer and want to make sure he is not taking me. GLK350 (4 Matic) with options. MSRP $46,315; 36 months/12k miles; $4000 down; 7% sales tax in NJ; Dealer says residual value is 59% and money factor is .0027; He's playing around with the net(adusted) cap cost number and I keep negotiating down. He is at $624/month. Thoughts? Thanks in advance
  • Car Man, by chance do you have the current MF and residual info for a 2011 GLK350 4matic 36-months at 10k miles/yr? Thx.
  • Hi Carman,
    I'm planning to lease a '11 GLK, I got a deal for basic 4matic model w/ sunroof, 7500 miles per yr w/ 4 yr contract. Do you think this is a good deal for $469/mth & $3891 due @ signing? It has residual of 51% & initial cap cost $37,000.
  • I am looking for a lease rate for an Arctic White GLK with the Appearance Package ($970) only.

    The MSRP is approx. $36k. 36-month lease with 12k miles per year.

    Ther dealer is asking for $5,200 out-of-pocket ($2,999.00 cap cost) and $459.00 month.

    Any thoughts on this deal??? Seems like a lot out of pocket....

    Thank you very much in advance!
  • Hi kooper. The residual value that you were quoted is right on the money, but the money factor is a little high. Mercedes-Benz Financial's September buy rate lease money factor for a 36 month lease of a 2010 GLK 350 4Matic is .00217 for consumers who qualify for its top credit tier.

    It's difficult for me to evaluate this deal completely without knowing this truck's selling price. Have the manager tell you this vehicle's exact selling price and let us know. I'm sure that either myself or another knowledgeable community member will gladly let you know what they think.

    I see that you are considering making a $4,000 down payment on your lease. I always advise consumers to put as little money down as possible when leasing. Lessees who make large payments at lease signing risk losing part or all of them if their vehicle is totaled in an accident or stolen and never recovered. Even though it means that your monthly payment will be a little higher, it's much safer to go with a zero down lease.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    edited September 2010
    I sue do. Here you go, geardog. Mercedes-Benz Financial's September buy rate lease money factor and residual value for a 36 mont lease of a 2011 GLK350 4Matic with 10,000 miles per year are .00217 and 60%, respectively for consumers who qualify for its top credit tier.

    Car_man
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  • Hi jxcrusade. Wow, you only need 7,500 miles per year. You certainly don't do very much driving. You should make sure that you are really only going to drive that little because if you end up driving more, you could end up racking up a pretty significant excess mileage charge over the course of a four year lease.

    It's excellent that you know this vehicle's capitalized cost. It would be much easier for us to evaluate it for you if we knew what its MSRP was. That will show us how much of a dealer discount you are being given.

    Car_man
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  • I completely agree with you, kdl0013. $5,000 is way too much money to pay at lease signing. If your truck ends up getting stolen or totaled in an accident over the course of your lease, there's a good chance that you'll never see that money again. You're better off putting as little money down as possible when leasing. Lessees through Mercedes-Benz Financial can usually get away with only paying their vehicle's first month's payment, its $795 acquisition fee, and any required state taxes or fees at signing. Many of the fees can even be rolled into vehicles' capitalized cost to make them part of the monthly payment.

    As far as how good a deal this is goes, you never mentioned this truck's selling price. The selling prices of leased vehicles are negotiable, just as if you were paying cash for or financing them. It will be much easier to evaluate this deal with this number. Let us know what it is and either myself or another knowledgeable community member will let you know what you think.

    Car_man
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  • pmc44pmc44 Posts: 2
    edited October 2010
    I just signed the papers on this deal today...

    2011 GLK 350 4-matic
    Black
    Almond MB-Tex
    P1 package
    Sport Appearance package - 20" wheels
    Heated Seats

    MSRP $43,315
    SALE PRICE $39,150

    Lease terms through Mercedes Benz Financial:
    48 months
    10k miles a year
    $0 due at signing (1st payment, taxes and all fees rolled in)
    $575 monthly payments (47 actually), including tax of 8.16%

    The money factor was slightly inflated at .0022 and the residual was $21,657.50 (50%). All in all, I think I did pretty well.
  • Hi pmc44,
    Can you please share your dealer info?
  • pmc44pmc44 Posts: 2
    Sure, I leased my GLK through Mercedes Benz of Westminster (I believe they deliver nationwide; see their website) in the Denver area. Best to try the toward the end of the month. I got lucky and they needed one more deal for the month.

    Great service and easy to work with. Just be persistent.
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