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2013 and earlier-Mercedes Benz GLK-Class Lease Questions

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  • 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: 38,518
    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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    Prices Paid: Buying & Leasing Experiences Forum
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,518
    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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    Prices Paid: Buying & Leasing Experiences Forum
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,518
    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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    Prices Paid: Buying & Leasing Experiences Forum
  • 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.
  • kyfdx%40Edmundskyfdx%40Edmunds Posts: 25,872
    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.
  • kyfdx%40Edmundskyfdx%40Edmunds Posts: 25,872
    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.
  • 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: 38,518
    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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    Prices Paid: Buying & Leasing Experiences Forum
  • 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: 38,518
    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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    Prices Paid: Buying & Leasing Experiences Forum
  • 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
This discussion has been closed.