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2013 and earlier-Mercedes Benz GLK-Class Lease Questions

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  • Anyone have Mercedes-Benz Financial's November buy rate lease money factor and residual value for a 36 month lease of a 2011 GLK350 4Matic with 10,000 miles per year for consumers who qualify for its top credit tier? If so, is it a reasonable deal? Thanks.
  • Here's the information that you're looking for, thoughtful.

    Mercedes-Benz Financial's November buy rate lease money factor and residual value for a 36 month lease of a 2011 GLK350 4Matic with 10,000 miles per year are .00217 and 60%

    Car_man
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  • merc1234merc1234 Posts: 5
    edited December 2010
    I got a GLK 350 4MATIC with p1 package, heated seats, parktronic, and IPod Connection for $545/month tax included for 39 months, $0 down, only the fees paid upfront. I don't remember the exact selling price, residual, etc. , but I think the msrp was around $42,000. I think it was a pretty good deal I got.
  • I received an offer for a 2011 GLK, P1, heated seats and multimedia package.

    45,395 msrp
    41,200 sales price
    $42,814 invoice
    42,704 cap cost (includes taxes, fees, etc)
    51% residual
    4 year lease at 7,500 miles (all i need)
    23,151.45 residual
    $550 per month lease payment
    $1,750 upfront cost

    Seems like a good deal, and i'm likely to take it monday, but would appreciate any feedback.
  • Hello,
    I was offered $40.5k on my first inquiry (to the internet sales guy) for exactly the same combo ('11 4Matic, P1 + Multimedia + Heated Seats), which I was able to negotiate $500 further down. I do believe your worst offer should be below $41k, and your best one would be below $40k.
    Good luck!
  • vm3916vm3916 Posts: 1
    I signed my lease last night. My sales person said this was the last day of the winter events and I had to sign it before the day was over to get this deal. I think it's a fairly good deal.

    2011 GLK 4Matic with P1, Multimedia and Heated front seats and two dealer installed paint options.
    MSRP: 45735, invoice 42525, sales price 39650. 36 months with 12k miles /year. money factor .00217, residual value 59% of MSRP. I chose to pay all fees and tax upfront and 1st month payment, so total due at lease signing was $3490, to be followed by 35 months of $499.

    Two things I didn't like were $995 acquisition fee (is this a bit higher? My previous lease of BMW X3 charged $695) and this one i think is really unfair: I had to pay sales tax on the total sales tax. It's called cap deduction but really is just acquisition fee and total sales tax paid upfront. But i was told this is always how it was charged in NJ.
  • Hey guys,
    It's that time of year again, and I saw this new vehicle. It looks awesome. I am looking at the following invoice options on this $34,875 crossover. :)
    Prem pkg _ $2,976
    MB mbrace - $ 614.00
    Heated Seats _ $698.00
    Keyless Etry - $ 1,060
    Full leather - $1,780
    Total Invoice = $41,377
    Leasing for 36 months for either 12,000 or 15,000 miles.
    I live in NY, what is the residual and money factor on this, and what does CAP mean? Should I look for that too? What is a good deal on this car, and what about free maintenance? I've seen some commercials that say maintenance included lately (while watching football games lol)...and I have learned through you both in the past that I don't put any money down. Is that still true?
    And, what about the $1,000 incentive?
    I appreciate all your guru information once again, throughout the years, you have helped us out.
    My best,
    :)
  • Hi voldermort. Mercedes is not currently providing any lease support on the GLK. As a result, if you were to lease one through Mercedes-Benz Financial, you would have to use its standard lease money factors. The last time that I checked, MB Finance's buy rate standard lease money factor was .00240 for consumers who qualify for its tier 1 credit tier.

    The residual value for a 36-month, 15,000 mile per year lease of a 2011 GLK 350 4WD is 57%.

    CAP likely refers to this vehicle's capitalized cost...which essentially is the amount that you are financing. This is your vehicle's selling price plus any other charges that you want to roll into your lease.

    You definitely want to put as little money as possible down when leasing.

    I don't believe that Mercedes is currently providing any cash incentives on this truck.

    Car_man
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  • Thank you Car_Man. I'll be speaking to them later this week. I'll let you know. :)
  • You're very welcome voldermort. Good luck.

    Car_man
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  • Carman, here's the update. I decided not to go with the GLK....the money factor and is high like you say and it all adds up.

    Too bad for MB! :)
    Thank you.
  • bill124bill124 Posts: 242
    hi,

    Looking for rate and residual through MBUSA for 2011 E350 convertible. I can calculate payments but don't know what rate and residual are. Told me rate is 5.9%. Any other costs I should expect? Looking for 39 months, if they still do that, or 36 months.

    Thanks.

    Bill
  • Thanks for letting us know what you decided to do, voldermort. I agree, the GLK's pretty expensive right now.

    Car_man
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  • Hi Bill. This particular discussion is for community members to talk about leasing the GLK. This looks like a good question for the E-Class Lease Questions discussion. Please try posting it there. Thanks.

    Car_man
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  • karchkarch Posts: 42
    Can I get the mf and residual on a 36 month, 12K/year GLK350 with P1?
    I'm not used to the turn-in fee that MB charges at the end of a lease.

    Thank you.
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi karch. Mercedes-Benz Financial's February buy rate lease money factor and residual value for a 36 month lease of a 2011 GLK350 4Matic with 12,000 miles per year are .00240 and 59%, respectively for consumers who qualify for its Tier 1 credit tier.

    Yeah, the MB lease termination fee is a bitter pill to swallow. Nothing's worst than having to pay six hundred bucks to give a car back.

    Mercedes is scheduled to introduce its new March programs some time tomorrow. Please feel free to check back with me for an update if you're interested.

    Car_man
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  • karchkarch Posts: 42
    Thanks Car_Man. If you remember, sure, I'd appreciate the numbers, though it's looking less likey. Leaning more towards a Jeep GC (I think I asked for the mf and rv on that thread), due to the extra charges that MB thinks are warranted.

    Thank you again.
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    You're welcome karch. I remembered!

    Mercedes-Benz Financial's new March buy rate lease money factor and residual value for a 36 month lease of a 2011 GLK350 4Matic with 12,000 miles per year are .00193 and 58%, respectively for consumers who qualify for its Tier 1 credit tier.

    Car_man
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  • karchkarch Posts: 42
    Thanky you again, and your memory is impressive!
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    You're very welcome karch.

    Car_man
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  • mc_lamc_la Posts: 3
    Hey Car_man,

    Can you give me the MF and residual on the GLK 350 but not the 4Matic? And does MB offer a 10K/yr rate?

    And do you have an opinion on the GLK 350 vs the Lexus RX-350?

    Thanks!
  • shuedshued Posts: 107
    Hi, Guys:
    I have not released a car before. Two stupid questins, such 58 % means the percent of MSRP? or invoice? As I quess, .00193 and 58% should means same thing (or directly proportional). Right?
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    I sure can, mc_la. Mercedes-Benz Financial's March buy rate lease money factor and residual value for a non-4Matic GLK 350 with 10,000 miles per year are .00193 and 57%, respectively for consumers who qualify for its top credit tier.

    Both the GLK and the RX 350 are good vehicles, but I personally prefer the RX.

    Car_man
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  • mc_lamc_la Posts: 3
    Thanks for the info Car_man.

    I think we like the Lexus RX better too, so that's what we'll almost certainly go with. Certainly the residual value and the money factor on the RX are better than the MB GLK right now.

    Thanks again for posting and for these boards. Been a great help to me every time I lease a car.
  • storm10storm10 Posts: 175
    Residual value is the percentage from MSRP (not invoice). So when you negotiate the selling price - your residual does not change. Thats how you lower your monthly payment.
  • storm10storm10 Posts: 175
    Personally, I would never buy a Front Wheel Drive vehicle, because it affects the safety and performance. That's the reason I would not buy the Lexus RX...
  • karchkarch Posts: 42
    I too absolutely hate FWD.
  • geemm2geemm2 Posts: 2
    hello car_man,
    i'm getting a quote on a 2011 GLK lease with premium pkg 1 and multimedia pkg for 40,987. he says it's 831 over invoice, but only 713 off msrp. what are your thoughts? and for a tier 1 credit buyer i also think their money factor is too high. and what's an acquisition fee? i haven't seen anyone discussing that in this blog. and lastly, what are your thoughts on this car vs. the bmw x3? thanks for any help.
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    You're very welcome mc_la. Thanks for the kind words.

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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi geemm2. According to the data that's available here at Edmunds.com, Link, there is a spread of around $3,000 between this truck's MSRP and its dealer invoice price. If you are in an area that has a decent level of competition, you may be able to do better than a $713 discount.

    MB Finance's current buy rate lease money factor for the 2011 GLK350 is .00193 for consumers who qualify for its top credit tier.

    All banks that lease vehicles charge an acquisition aka bank fee. MB Finance's base acquisition fee is $795

    Both the X3 and GLK are nice trucks. If I had to pick one over the other I'd probably go with the X3, but again they're both good vehicles.

    Car_man
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This discussion has been closed.