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2013 and earlier-Mercedes Benz GLK-Class Lease Questions

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  • Hi Car_Man,

    My husband and I are trying to decide what car to purchase and we need some help

    can you please provide the Mercedes-Benz Financial's March buy rate lease money factor and residual value for the GLK 350 Base model for 39 months with 15K miles a year??

    Also, do you know the same info for the Cadillac SRX? Which do you like better??

    Thanks!!!
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    I'd be happy to help you out, carhelppls. Mercedes-Benz Financial's current buy rate lease money factor and residual value for a 39 month lease of a base 2011 GLK 350 2WD with 15,000 miles per year are .00193 and 54%, respectively for consumers who qualify for its top credit tier.

    The numbers for an otherwise identical lease of a base 2011 Cadillac SRX are 1.65% and 50%. As you can see, Ally publishes lease rates instead of money factors for the vehicles that it leases. You can convert its lease rates into approximate money factor equivalents by dividing them by 2400.

    Hmmmm both the GLK and the SRX are nice vehicles. Normally I would go with a Mercedes-Benz over a Cadillac...however I personally am not a big fan of the GLK's styling and I might actually go with an SRX over it. Again though generally speaking I personally feel as though Mercedes produces better vehicles than General Motors does.

    Car_man
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  • storm10storm10 Posts: 175
    Actually April leasing program seems to be a little better, because you can go only for 2 and a half year with lower payment. Just 30 months.

    You can see all the current specials here: April 2011, Mercedes-Benz Financial and Leasing Specials.

    If you click on "Sort By Lease Payment" on top of the page - you'll see that GLK has the 3rd lowest lease payment among all the Mercedes-Benz models...
  • Can anyone provide me the money factor and residual on a 2011 GLK350 4matic with AMG Styling Package, Full Leather Seating MSRP $42145. I am looking to lease for 30 months 12k year. Thanks!
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Greetings eurocarguy. Mercedes-Benz Financial's June buy rate lease money factor and residual value for a 30 month lease of a 2011 GLK350 4Matic with 12,000 miles per year are .00064 and 60%, respectively for consumers who qualify for its top credit tier.

    Car_man
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  • Carman, can you please provide the money factor and residual on a 2011 GLK350 2WD, 12k per year? I'm open on the lease term depending on what the rates look like (30, 36, or 39 months). I'm not sure if options make any difference, but I'm looking at the Premium 1 package for sure, and maybe appearance and lighting packages. Thanks in advance!
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hello renegadeofpunk. Mercedes-Benz Financial's June buy rate lease money factor and residual value for a 36 month lease of a 2011 GLK350 2WD with 12,000 miles per year are .00097 and 53%, respectively for consumers who qualify for its top credit tiers.

    I believe that the numbers for an otherwise identical 39 month lease would be the same as a result of Mercedes' "Value Added" lease program.

    The money factor would be the same for the 30 month term, but the residual values would be 58%.

    Car_man
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  • fgaz1fgaz1 Posts: 14
    Hello again Car Man. ..once again coming to your aid as I have done a few times. (has helped me in the past-and I'm sure everyone else as well). Looking to lease. 44,600 sticker. Glk 350 4 matic. Needing residual. 30 month. (12,000 miles). Money factor. ( got top tier credit here). I believe there is good lease cash as well. Any info to figure out a lease sheet would be appreciated... Freddy
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hey Freddy. Mercedes-Benz Financial's July buy rate lease money factor and residual value for a 30 month lease of a 2011 GLK350 4Matic with 12,000 miles per year are .00064 and 60%, respectively for consumers who qualify for its top credit tier.

    Car_man
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  • aae2808aae2808 Posts: 6
    Hi! I just stopped by my local MB dealer and he saw I was currently in a BMW. He told me that they were offering $1k off for conquests. How should I factor that $1k in to my price negotiations?

    Thanks!
    Amie
  • storm10storm10 Posts: 175
    I would not go back to the same dealer, because they lied. Anytime I sense that dealer is lying, I stop dealing with them and work with other MB dealers. You actually get $2,000 NOT $1,000.

    1st you should negotiate the selling price of the car, and THEN reveal your $2,000 certificate. This way you can get the best possible deal, without pre-conditioning.
  • xelarxelar Posts: 2
    Understand MB is coming out with a new lease program for the 2012 model tomorrow. As the current program ends today, I'm a bit in limbo as to make a deal today or wait to see what incentives are offered tomorrow.

    Can I assume that any lease program for the new 2012 model will not match the current offering for the 2011 model?

    Thanks for any (quick) advice!
  • hpwsdhpwsd Posts: 6
    Hi Car_man,

    Do you have the Mercedes lease details for August 2011 on the following vehicle?

    2012 Mercedes GLK 350 RWD
    36 mo / 12K miles per year

    I'm starting my research on this vehicle with metallic paint, P1, and MM packages. At this point in the year, is it more cost-beneficial to lease a 2011 or 2012 model?

    Thanks,
    Henry :)
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Your assumption is correct, xelar. While one can lease a 2012 GLK through Mercedes-Benz Financial using its standard program, Mercedes is not yet providing any support on the '12 GLK.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Here's the information that you're looking for Henry. Mercedes-Benz Financial's August buy rate lease money factor and residual value for a 36 month lease of a 2012 GLK 350 RWD with 12,000 miles per year are .00240 and 58%, respectively for consumers who qualify for its "Tier 1" credit tier.

    The numbers for an otherwise identical lease of a 2011 model are .00097 and 51%.

    Car_man
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  • TimelockmindTimelockmind Posts: 30
    edited August 2011
    Here's the deal:

    2011 GLKW4
    45,325... (brand new) Selling Price... 38,777 (6,548 discount)

    Lease for 15k per year/36 months:

    1771 down 527.78 per month (NOT including tax and license)

    With the 2012s now at the dealerships is this a - Good deal? Bad deal? Okay deal?
    All help greatly appreciated!!
  • A post script:

    Got the GLKW4 mentioned above for 30 months (with a no-penalty option for 6 more months) at $538 a month INCLUDING tax, license, and ALL scheduled service for the first 30 months. I put down 1771 which included the first month's payment.

    Based on what I have read, I think this was a very good deal, indeed.
  • mem34mem34 Posts: 5
    Hi Timelockmind,

    That looks like a solid deal with an excellent selling price.

    I'm possibly in the market for a GLK350/4M myself. Would you mind sharing the name of the dealership? Also, what options did you get?

    Thanks!
  • TimelockmindTimelockmind Posts: 30
    edited August 2011
    Good luck - I love my GLK (it came with 4matic, loaded with the p1 and multimedia packages plus heated seats. Remember it is a 2011 (which are getting more difficult to find, esp. black/black)... a 2012 would be several thousand dollars more.

    Keyes European
    Internet Sales
    Van Nuys, CA
  • mem34mem34 Posts: 5
    Thanks! I'm on the east coast but will try to replicate a similar deal. Congrats!
  • aae2808aae2808 Posts: 6
    Hi! I am a costco member and submitted a quote for pricing on the GLK. The dealer's negotiated rate is Invoice. I also get $2k Conquest cash:

    MSRP is 43,045 2011 GLK
    Invoice is 40,594
    Conquest cash -2000.00
    Selling price is 38,594

    30 months 568
    33 months 575
    39 months 539
    36 months 568
    Acquisition cost and 1st pmt due at signing. I still have 2 payments left on my X3 of $475. Is this a good deal to take early and just have my husband drive the X3 for a month?
  • TimelockmindTimelockmind Posts: 30
    edited August 2011
    You can do at least $2,000 (if not more) better.

    The GLKW4 I purchased yesterday had a sticker of just over $45,000 (6,500 discount.)

    My lease (15k per year/1,700 down - which included first month's payment), is $527. That INCLUDES tax. Also, I purchased a service plan (honored by any Mercedes dealer) for $11 per month which covers all scheduled maintenance for three years.

    Of course, the 2011s are getting harder to find as the 2012s arrive... and there won't be these can of deals on the newest edition (even though its the same car).
  • hpwsdhpwsd Posts: 6
    edited August 2011
    Thanks Car Man!

    I found my car and signed a lease with these numbers for a 2011 GLK W2:

    MSRP - $47,584
    Selling Price - $40,415
    MF - .00117 (marked up by .002)
    Residual - 60%
    Term - 30 months
    Down - $2,189
    Total - $540/mo including tax in CA

    The car has the P1, multimedia, heated seats, full leather, and appearance packages, metallic paint, and includes prepaid maintenance.

    I think the deal was good enough and accepted markups on MF and acquisition fee ($418 + $300). The other thing I had to accept was paying for options I didn't really need. That was because the stock of 2011 models didn't have the exact configuration I wanted. However, the 2012 models with fewer options cost more if you do the calculations, so I felt that this was a good deal.

    Alternatively, there are more 2011 MLs left and similarly good deals can be found on those.

    Good luck shoppers!
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    You're very welcome, hpwsd. Thanks for taking the time to share the details of your deal with everyone. Enjoy your new ride!

    Car_man
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  • I have negotiated a 2011 GLK with MSRP of $46,725 to $40,516, which is invoice minus $1500 and $2K for conquest cash. However, the dealer offered a lease of $477 plus tax, $1000 down and $30,400 for residual. That does not make sense to me, does it to you?
    Thanks.
  • Hi everyone, does anyone know if:
    The dealer wants to charge me $427 doc fee. Is that negotiable?
    The dealer wants to charge me $795 for a lease acquisition fee from MBZ finance. Is that negotiable?
    Edmunds lists $33015 as the base invoice yet the dealer tells me it is 33515, which is accurate?
    thanks...
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    $1,500 under invoice minus the conquest cash is an excellent selling price, beachbum59. Let's work up a payment using Mercedes' current lease program and the prices that you mentioned and see what we come up with. According to my calculations, if you were to lease a 2011 GLK350 4Matic that has an MSRP of $46,725 and a selling price of $40,516 through Mercedes-Benz Financial right now for 36 months with 12,000 miles per year, your zero down, pre-tax monthly payment would be around $479. That's pretty close to what you were quoted.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi again beachbum59. Doc fees vary from dealer to dealer. The dealership may say that this charge is non-negotiable, but you can always adjust the amount that you are willing to pay for the vehicle that you want by that amount if you so choose.

    Mercedes-Benz Financial does indeed charge a $795 acquisition fee on every vehicle that it leases. This charge is not negotiable. You can either pay it at lease signing or roll it into your vehicle's capitalized cost to bake it into your payment.

    The Edmunds invoice price should be accurate. It's possible that the dealer is adding some sort of charge that is passed into it by Mercedes, like an ad charge, to the base invoice price.

    Car_man
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  • re: Beach Bum

    If your deal is for 12,000k a year, you might press the dealer to do just a bit better. I was able to negotiate 15k per year WITH prepaid service and CA tax for $538.00... for 30 months with a 6 month no penalty option.

    For 12K the lease would have been $475.80 (including prepaid service/tax).

    Regardless, it's a terrific deal and we love our car!
  • Thanks for the confirmation, Car_Man. When I add the monthly payments (30X$477) plus residual ($13,833) and drive off ($477) it comes to $44,681 which is almost $4K over the cost of the vehicle (taxes not included). That seems too high as cost of money goes. Something does not add up, I think. What do you think?
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