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2013 and earlier-Mercedes Benz GL-Class Lease Questions

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Comments

  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Congratulations on the new baby, kirsten308333. Since you are new to leasing, you definitely should check out the following informative articles on the subject that are available here at Edmunds.com: 10 Steps to Leasing a New Car and Calculate Your Own Lease Payment.

    In short, the easiest way to get a good deal on a leased vehicle is to shop around for the lowest possible selling price and then have the dealer that you decide to go with calculate your vehicle's monthly payment using its buy rate lease money factor.

    Car_man
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    Prices Paid: Buying & Leasing Experiences Forum
  • tsftsf Posts: 1
    Thanks for all the info, Car_man!

    Could you update us with the July lease terms (RV & MF) for 24 month/30month with 10K annual miles?

    Also, as GL450 may have special lease rate for the moment, could we still apply the Single-Payment discount to it? If so, how much difference?

    I guess we could not apply the MSD on top of it, could we?
  • vittyvitty Posts: 4
    Hi Car_man,
    Great work keeping everyone informed on lease rates!

    Could I get current residuals and money factor for a 2012 GL350? Looking at 36 month lease 15k miles per year. If you could give me those rates along with a variety of other lease options that would be great as well.
    Thanks!
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    No problem tsf. Mercedes-Benz Financial's July buy rate lease money factor and residual value for a 24-month lease of a 2012 GL450 with 10,000 miles per year are .00140 and 71%, respectively for consumers who qualify for its top credit tier.

    The numbers for an otherwise identical 30-month lease are .00140 and 62%.

    I don't believe that you can use MSDs on special lease money factors. I've heard that the one pay money factor reduction is .00110, but I'm not sure if it is available on special money factors.

    Car_man
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    Prices Paid: Buying & Leasing Experiences Forum
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Thanks vitty. Mercedes-Benz Financial's July residual value for a 36-month lease of a 2012 GL350 with 15,000 miles per year is 58%. Mercedes is not currently providing any lease rate support on this model. As a result, if you were to lease one through Mercedes-Benz Financial you would have to use its standard lease money factors. I'm not sure exactly what that is right now, but it's probably around .00210 or slightly better.

    Car_man
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    Prices Paid: Buying & Leasing Experiences Forum
  • llngoc2llngoc2 Posts: 15
    I am aware of the GL450 special lease program from MB Financial for the 24 month lease with 71% residual and 0.0014 MF and I made sure that the dealers who I am dealing with are aware of it.

    However, one of the dealers is quoting me 0.0019 MF and $1095 acquisition fee as he states that it is customary for the dealer to charge half point mark up on the lease rate and $300 for the acq fee. This definitely sounds fishy to me, but can it be true?
  • dkrimgolddkrimgold Posts: 24
    No, it's not true. You can get a straight up MF and residual, as well as the acq. fee from the dealer. You can also reduce the MF via autopay and security deposits.

    The dealers should make enough on the back end. Find another dealer or bargain this down. Better yet, fax a form letter to all the dealership sales managers in the area and see who comes back with the lowest quote. This is your money - make it count.

    Lastly - I hear "one pay" really works well if you can afford it.
  • llngoc2llngoc2 Posts: 15
    So I guess the dealer is trying to maximize his profit then and I should walk on this deal.
  • insidecarbuyinsidecarbuy NYCPosts: 95
    Just helped my friend get this deal.

    MSRP - $71,880
    Conquest - $4,000
    Negotiated the rest down to -
    Selling price - $60,081

    24 month lease with 12,000 miles per year.
    Money Factor with auto pay .00130
    Residual for 12k miles - 70%

    Total out of pocket $2,581.27
    Bank fee- $795
    Transfer plates $100
    Doc fee - $75
    NYS Inspection $10
    NYS Tire Fee $12.50
    Taxes - (7.375%) $1,038.37
    1st month payment - $550.40

    Month payment $550.40

    Needless to say my friend was very happy!
  • insidecarbuyinsidecarbuy NYCPosts: 95
    One pay option drops money factor by .00080 - So the .00140 becomes to .00060 for a 24 month term. Was exploring that option earlier today!
  • tlecotleco Posts: 34
    Ok 24 months $550 or a about $1300 plus out of pocket $2500 or total payment
    Of $15500
    70% residual of $70k is $49000
    I am wondering who is paying the different
    If you can walk out with $950 payment here in Texas you are lucky
  • gunssgunss Posts: 7
    insidercarbuy,

    Great deal indeed! Where in New York did this take place? I live in Rockland County, 10901 zip code.

    Please advise if you can. Thanks!
  • llngoc2llngoc2 Posts: 15
    I got my local dealer to come down to this for a 2012 GL450 for a 12k/year 24 months lease:

    MSRP: $72005
    Net Cap cost: $59350 (After $12655 off MSRP)
    Money factor: 0.00140
    Residual value: $50403 (70% residual)

    Acquisition fee: $1095 ($300 markup here)
    Deposition fee: $595

    How realistic it will be for me to negotiate the buyback price down at the end of the lease? My intention is actually to purchase the car at the end.

    BTW, the exact car we want is on transit but the dealer wants us to complete lease paperwork today and have it submitted next Tuesday when the car arrives. Does anyone see any issue with it?
  • tlecotleco Posts: 34
    Residual is HIGHER so you monthly payment is LOWER.
    If you want LOWER residual so you can buy back then your monthly payment will be higher. You got $12000 off and still want lower payment and lower buy back... What else do you want? Free service for life? free tires and brakes???
    may as well ask them while you are at it
  • llngoc2llngoc2 Posts: 15
    Thanks for information.
  • skinsoskinso Posts: 8
    Hi everyone, just picked up the last GL450 in one of the SoCal Dealership with all the extra options below:

    -3-Zone Automatic Climate Control -Inc: Rear Air Conditioning

    -Accessory Chrome Pkg -Inc: (4) Chrome Door Handle Inserts Hood Fin Covers Chrome Mirror Housings

    -Accessory Rear Seat Entertainment System

    -Blind Spot Assist

    -Class Iv Trailer Hitch -Inc: 7500Lbs Towing Capacity

    -Gl Appearance Pkg -Inc: 20" X 8.5" Twin 5-Spoke Aluminum Wheels P275/50R20 All-Season Run-Flat Tires Brushed Aluminum Rubber-Studded Running Boards

    -Lighting Pkg -Inc: Headlamp Cleaning System Bi-Xenon Headlamps W/Active Curve
    Illumination

    -Parktronic

    -Premium 2 Pkg -Inc: Auto-Dimming Rearview Mirror Comand Hard Drive Navigation System Ipod/Mp3 Media Interface W/Cable Pwr Front Seats W/Memory Pwr Folding Exterior Mirrors W/Memory Auto-Dimming Driver Side Exterior Mirror Pwr Liftgate Pwr Tilt/Telescopic Steering Column W/Memory Rearview Camera Sirius Satellite Radio W/Hd Radio 115V Pwr Outlet Harman Kardon Logic7 Surround Sound System W/Dolby Digital 5.1 Keyless Go
    -Rear Seat Entertainment System Prep

    -Side Running Board Illumination Kit

    -Wood & Leather-Wrapped Multi-Function Steering Wheel

    MSRP is $79185, got a 10k discount on sale price, and paid $2,500 drive off including first month payment. monthly payment is $750, 8.75% sales tax included. 10k miles per year.
    The dealer marker up the money factor by 0.0001 from 0.0014 to 0.0015. residual is 71%.

    Is that a good deal?
  • rx5zigenrx5zigen Posts: 5
    Great deal! Which dealer and where?
  • llngoc2llngoc2 Posts: 15
    I am from Northern CA, Dublin area.
  • llngoc2llngoc2 Posts: 15
    So this is my final deal and the car is on the driveway!!!

    The car:
    2012 GL450
    P1
    Appearance package
    Parktronic
    Blind spot assist
    Pre-wire for rear entertainment system
    Tow hook

    MSRP: $72005
    Net Cap cost: $61144 (After $12655 off MSRP plus $1095 acq fee and $699 for 2 year maintance)
    Money factor: 0.00140
    Residual value: $50892 (70% residual)
    (Somehow the 2 years was charged at $699 and the residual is raised so the net cost of the maintenance is $250 to me)

    This is a 24 months with 12k per year.

    I ended up with a minimal cost driveoff at $1214 with $635 monthly payment. (including $51 of sales tax) I think I got a decent deal and am happy with it.
  • Congrats on the great deal. If you dont mind, can you please share the dealership and the initials of Client adviser. I have done this before without compromising the forum rules.
    Thanks
  • llngoc2llngoc2 Posts: 15
    This is Pleasanton MBZ and I used the internet sales quote service. But the deal worked because of the conquest credit (expiring on 7/31?)
  • lex13lex13 Posts: 11
    I used this deal as a play against the dealer. My MSRP was 75k, I got about 13.5k off and 71% residual for 10k miles. Thanks for the help appreciated. I got it at Fletcher Jones in Newport Beach.
  • llngoc2llngoc2 Posts: 15
    This is an awesome deal. I wonder if SoCal should be getting better pricing as I was able to get much better price from a SoCal dealer for my 911 last year. But the same dealer who also has a MBZ franchise would not give me more than $10k in discount when I tried to deal again so I ended up dealing locally. What is the MF you got?
  • mjf415mjf415 Posts: 5
    Picking are getting slim in the greater NY area for 2012 GL450s. It was hard to find any color other than black in my area and just about everything is loaded to the gills. I leased a palladium silver w/ P1 and a few other options yesterday. MSRP was $72,600; paid $62,300 including the 2 year maintenance. The bank fee is $795. Total payment on a single pay lease is $15,350. This forum was really helpful and cut down on back and forth of negotiating. The whole process took about an hour.
  • rocky725rocky725 Posts: 30
    Great deal! Please post dealer name if you don't mind or send a private msg. Thanks.
  • gp56gp56 Posts: 1
    Just leased a GL450 with an MSRP of $76,325, 24 months, $2800 at signing for first payment, tax and bank fee, $640/month on LI. This is a 7500 mile per year lease. In addition, they waived the last 4 months of current 2010 ML lease. Seemed like a good deal, especially since this is what I was paying for the ML per month and it had an MSRP that was 20K less.
  • 123ml123ml Posts: 5
    That payment seems way over what the others are paying on this site for the GL 450. The miles are not correct for the current program. Does anyone know if MB is giving dealer cash? Seems that dealers still have a good amount of inventory and the new model is due out soon
  • vchadvchad Posts: 97
    hey guys,

    To tell the truth, we had too many cars, really didn't even need this GL450, but I could not pass up on this deal. When i noticed the residual was 71%, I called around a few dealers to get a guage of the discounts being offered. I got a range of 7k to 11k off. Which I was ok with, but i called around from my state(Michigan) to D.C. Market.......and lastly chicago.

    The d.c. market, i had people hang up on me, when I asked for $14k off msrp. BUT......i actually had a store manager call me back, offering $15,000 off, if i took their black bluetec(anyone interested call MB, i forgot if its alexandria or chantilly...the manager is an asian guy, has acccent, very direct, no games with him).

    My local dealer and I had been going back and forth.....i basically told them i'll take any car on their lot, just looking to lease and return in 24months. They called saying they had a demo with under 2k miles, so they offered it for 14k off. I did a ONE time pay.........with 795 aq fee....200doc fee.....and 6% sales tax(we only pay tax on monthly portion).....ended up being $10,280!!! That also includes 2yr maintenance. I was super happy with the deal. I was offered $12,500 off by 3 dealers, so you guys should aim for that at a minimum. My car stickered for $71,540. black on black. (as a side note....the sound system is not impressive for a suv of this price)

    As for the chicago dealers.....every one of them acted like they were doing me a favor by selling for $3k off msrp. The chicago market is full of people who overpay, and these dealers have gotten gready. But i guess if you can get away with it.......why not.
  • kyfdxkyfdx Posts: 28,048
    Wow... nice job!

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  • Hi Carman,
    What are the money factor and residual for August? I assume 24 mo is the best. And can you post both GL350 and GL450 info (money/residual) and any cash you know of (loyalty, conquest, dealer cash)? Thanks.
This discussion has been closed.