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2013 and earlier-Mercedes Benz GLK-Class Lease Questions

kyfdxkyfdx Posts: 29,398
edited January 29 in Mercedes-Benz
Ask your GLK lease questions here!

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Prices Paid, Lease Questions, SUVs

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  • I got 550+tax with 1500 drive off. What do you think?
  • Could you share details? is it with Premium package.
    My dealership showed me base offer of 499 per month before taxes with 3700 cap cost reduction for the base+premium. That was before any negotiations with dealership to get the break to the purchase price.
    I am trying to figure out if it is possible to get them to $499 per month with 0 down.
    That would mean 3,700 discount from the MSRP price.
    Hoping for better deal next month...
  • yes could you post details ( MSRP, options, months, )and general location gvitalik?

    have heard the money factor is .00197 and .54 residual on 10k miles 39 months ---

    love to hear you lease details
  • Now they came down to 550 including tax with $1500 drive off in California on

    GLK350W4 $35,900

    755 Steel Grey $720

    101 Black MB-Tex

    R26 19" Wheels

    057 iPod Integration Kit $375

    413 Panorama Sunroof $1,200

    510 6-Disc In-Dash CD Changer $470

    739 Aluminum Trim

    873 Heated Front Seats $740

    98T Launch Volume

    SUBTOTAL $39,405

    DESTINATION & DELIVERY $875

    TOTAL $40,280

    I haven't received the breakdown of the lease because the payment is still too high for me, and I believe there is still room to negotiate.
  • GLK350W4 - dealer in CT
    $46,000
    - P01
    - Multimedia pack.
    - Appearance
    - 20"
    - Heated front

    36 months lease

    $2,470 1st payment

    $682/month

    Any extra $1,000 will decrease monthly payment by $32

    Never leased before, how to argue w the dealer to get a better offer?
  • get the invoice price from Edmunds (new car area, make sure you put the exact right options on and match the MSRP) then make them work back up a price from invoice. (1000 over? 1500 over?)

    Promo lease from Mercedes is 39 months, not 36 -- that will decrease your payment right there.

    How many miles per year do you need?

    Residuals are: .56 for 7500 miles/yr .54 for 10,000 .53 for 12,0000
    .51 for 15000

    Base rate money factor from mercedes financial is . 00197 (pretty sure on this)

    so then it's just a math problem

    MSRP x residual = depreciated value
    CAP COST (negotiated price including any up front $$) minus depreciated value equals equals depreciation. Divide that number by 39 -- monthly depreciation

    CAP cost PLUS depreciated value TIMES money factor = monthly interest

    add the monthly depreciation number ( should be up down of 475-500) and the monthly interest (should be around $140 ) to get your monthly payment.

    This is better explained (sorry) on some of the leasing sites (leasecompare.com)
    or
    check out the lease forum at MBworld.org/forums

    good luck!
  • archmodarchmod Posts: 7
    I am hoping someone can let me know what the residual and money factor currently is for a 39 month lease with 15K miles per year.
    Thanks
  • nickr1nickr1 Posts: 51
    That's about what a lease is on a 42,000 to 46,000 suv; 2,470 down and $682 per month and that's way to high for an entry level suv like this. The LR2 Land Rover for example is 42,000 loaded but even when they discount the car to 38,000 the lease is still 36 months with 3,300 down and 655 per month. Gee, how can a 38,000 car and a 46,000 car have about the same lease price? Simple, the dealer offers what the dealer offers, you can take it or walk away; the math is there to confuse you, it's not there to give you a good deal, believe me.

    The residual and money factor makes no difference, though math experts will tell you differently, neither does the down payment, which you should try to get as low as possible, though often that just gets you paying a higher monthly; look, a low down payment only helps you if the monthly is low too, get it? He can offer you the car for 46,000 or 40,000 but he could make the lease the same price either way; discounts on delivered price make no difference. What you pay in total over 3 years is ALL that matters. yeah, there are some charges up front you have to pay but never give them cash up front, that works for them, never you.

    When the lease deal is good (meaning low down payment and low monthly payment) it's because there is a dealer incentive attached, meaning the dealer is giving up his profit to move cars. They only do this when they are super desperate and dealers like Mercedes and Land Rover and BMW are never desperate. Not yet, anyway, but wait a year, they might be.

    The way you have to look at it is: what is the lowest price you can get for the car with options you want. Then, what is the combined down payment and 36 months of payments, just add them together and that's what you pay for having use of the car for 3 years. There is no reason to factor in a bunch of complicated math unless you plan on buying the car at lease end which hardly anyone does because it's always a terrible deal, unfortunately, so is leasing at all, it's just that simple. Dealers will screw around with these numbers to confuse you but it's not confusing, how much money are you giving them in total for 3 years, that's all that matters.
  • crestonavecrestonave Posts: 219
    Has anyone compared the two in person? Is it possible that Audi's lower advertised lease price for the Q5 will force MB to get a little more aggressive with their leasing on the GLK?
  • sharmahwsharmahw Posts: 4
    Hi I was quoted 2010 GLK with P1 and Parktronic only in NJ. 0 cap cost plus inceptions fee (about $2100), sales tax included, 39 months, 7500/yr miles, $530/month. Is it reasonable or there is room for negotiation? Thanks. Need to get the car this week!
  • trent_08trent_08 Posts: 4
    Hey, wanted to share and get feedback. Just received the following email quote in southern NJ.

    2010 GLK 4matic
    Metallic Steel Gray
    Black MB-Tex
    Aluminum Trim
    P1
    Multimedia
    Sport Appearance Package - 20" Wheels
    Heated Seats
    MSRP $45,705
    SALE PRICE $41,666
    LEASE TERMS
    39 Months
    12k miles/yr
    $2500 Due at signing (1st month, tax, fee, etc..)
    $598 Monthly Payment

    I think this is a decent offer, any thoughts/suggestions?
  • crestonavecrestonave Posts: 219
    I'm no expert. but that offer looks pretty good compared with some of the other numbers I've seen tossed about. This is a zero down payment lease? Also could you share the money factor and the residual? Thanks, and good luck with the car if you decide to go ahead with the deal!
  • trent_08trent_08 Posts: 4
    Not sure on the money factor or residual number as I didn't see the breakout of the lease yet. Here is what I was quoted over email:

    1st Month Payment 598.31
    Acquisition Fee 795.00
    Fees & Insurance 427.50
    Upfront Taxes 96.44
    Cap Reduction (Cash) 582.75

    Total Out of Pocket 2,500.00

    Payment Information
    Final Payment 598.31

    So it looks like $582 would be the down payment.
  • crestonavecrestonave Posts: 219
    Thanks for sharing that information with me. There are only 96.44 in taxes included in your 2500 out of pocket. Does this mean that the 598.31 monthly payment includes the remainder of the sales taxes?
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi archmod. Here's the information that you are looking for. Mercedes-Benz Finance's current buy rate lease money factor and residual value for a 36 month lease of a 2010 GLK350 with 15,000 miles per year are .00197 and 51%, respectively.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • b4zb4z Posts: 3,372
    Both audi and mb are charging a lease turn in fee of around $500. I've never seen this before with the Gm vehicles i have leased.
  • larry124larry124 Posts: 1
    hi,

    could you please tell me which dealer and sales rep you dealt with - i am also in nj (northern) but your deal seems good ...

    would greatly appreciate it

    thanks

    you can email me at

    funnyguynot444@aol.com
  • I just leased same car (silver) 2 weeks ago in So Cal with 20" chrome wheels & Ipod integration , 10k miles for $41,653; $583/mo $2500 drive off. Based on my experience I think you have a good deal since I could not get 2 dealers to go any lower.
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hey b4z. While disposition fees certainly are annoying, most luxury manufacturers charge them now. If one stays in the family and leases another vehicle from the same captive finance company they usually waive the dispo fee.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • bk2010bk2010 Posts: 2
    Do you know the current money factor and residual value for a 36 month lease of a 2010 GLK350 4MATIC with 12,000 and 15,000 miles per year?
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    I sure do, bk2010. Mercedes-Benz Financial's April buy rate lease money factor and residual value for a 36 month lease of a 2010 GLK450 4Matic with 15,000 miles per year are .00230 and 51%, respectively. The money factor for an otherwise identical lease with only 12,000 miles per year would be the same, but the residual value would be 2% higher.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • sbesbe Posts: 4
    Hi Spenser99,

    I also live in SoCal. Could you give a breakout of your lease deal? Money factor? What dealers did you go to?

    thanks
  • sbesbe Posts: 4
    thanks Carman. question about the money factors: why is MB so expensive relative to Audi? The money factor of .0023 x 2,400 = 5.52% APR for the GLK, while Audi is quoting .00022 x 2,400 = 0.528% APR for the Q5. That is a huge difference and I wonder why MB would be so uncompetitive in the financing front. Any thoughts? any chance they'll become more competitive? thanks.
  • MF was .00197. Added Premium One, Multimedia, Appearance, heated seats, 20" chrome wheels. Lease was 583.78/mo 39 mos, but with new sales tax increased to 589 w/10K miles/yr. $2500 drive off. Cost $41563, $24842 Residual. Finally went with Fletcher Jones when House of Imports balked at including chrome wheels (they wanted to charge dealer cost $400?). 6 weeks later I still love this SUV, drives great, good mileage, no problems yet. Brakes took a little getting used - much softer than my CLK 55.
  • crestonavecrestonave Posts: 219
    Just curious, for comparison purposes, what is your tax rate?
  • nendonendo Posts: 2
    I was keen on getting a mercedes glk until i test drove it. Boy was i underwhelmed. The exterior styling looks pretty good with the 20,s but the interior looked cheap and felt like i was in a subaru. I am coming from a mercedes e55 and this was a huge step down in every way.

    Then i test drove the audi Q5 with sline trim and 20 inch wheels. WOW , i was really impressed with it. The styling exterior looked great and interior blew the glk away. Also it felt much zippier and handled better than the glk, less harsh of a ride as well.

    I took a bmw x3 out for a spin and it was god awful in almost everyway except the engine and good cargo room, The car reminded me of 1995!!

    I have test driven maybe 8 small suvs in the segment and ultimatley the q5 easily won for me.
    Now I have a audi 09 s-line sitting in front of my house and couldnt be happier with my desicion
  • Car_man,

    Can you please provide the MF and residual on a 2010 GLK 350 for a 24 and 36 mo. 10K miles lease? We are shopping this against the X3 and Q5 and trying to determine who is offering the best deal.
  • What is your opinion on leasing a used car. No more than 3 years old. Will the dealer base the lease on the MSRP of the used car or use a discount price that I offer ?

    Or if you are going to lease, just lease a new on 09' or 2010' ?

    My goal is low payments and zero down payment but want high end SUV, MB, Audi, MDX. Currently have RX350, lease ends 5/15/09.

    Thanks
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi sbe. One possible reason why Mercedes' money factors for the GLK are higher than Audi's are for the Q5 is that Mercedes' residual values for the GLK are higher as well. These higher resids enable it to arrive at similar lease payments without as much money factor support. Both companies are likely aiming for particular advertised payments, they're just going about getting there differently.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi lalakrsfan. Mercedes Financial's April buy rate lease money factor and residual value for a 24 month lease of a 2010 GLK350 4WD with 10,000 miles per year were .00240 and 58%, respectively. The numbers for an otherwise identical 36 month lease were .00230 and 54%.

    Mercedes' April lease program was scheduled to run through yesterday April 30th. Many manufacturers have extended their April programs through May 4th. I'm not sure if Mercedes has or not. Either way, it's scheduled to introduce a new program at some point over the next couple off days. I would be happy to give you an idea of what it is like if you check back with me.

    Car_man
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