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2013 and earlier-Mercedes Benz GL-Class Lease Questions

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  • wtikwtik Posts: 26
    My lease on a 2011 will expire in three months. I have the following questions:
    What are the pros and cons of returning the vehicle to the same dealer?
    What benefits/ credits would an existing MB customer get whether standard credits or negotiated credits.
    Would a dealer typically take care of minor but noticable body damages?
    The car has approximately 10K, very low mileage for a 27 month lease return.
    Thanks
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Sure traderb. Mercedes-Benz Financial's June buy rate lease money factor and residual value for a 24-month lease of a 2013 GL450 with 10,000 miles per year are .00205 and 73% for consumers who qualify for its Tier 1 credit tier.

    The numbers for an otherwise identical 36-month lease are .00205 and 64%.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi wtik. There really isn't any specific benefit to returning your vehicle to the exact same dealer that you leased it from, other than they will likely be more interested in helping you than a random dealer that you did not get your vehicle from would be.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • mas6002mimas6002mi Posts: 18
    edited June 2013
    36 mo, 7500 miles per yr, MSRP 78000

    24 mo, 7500 miles per yr.

    Car_man can u provide me the MF and residuals for these.... thanks.
  • salachsalach Posts: 2
    Hi Carman,

    Could you provide the July residual percentage and money factor for the GL 350 Bluetec please? 10k miles per year and 36 months.

    Thanks.
  • thomastkathomastka Posts: 5
    Hi, what is the current (July) money factor for a single pay lease of a GL550? I think this is usually provided as a discount from the normal money factor?
    Also, is the July GL550 36m residual still 56% for 15k miles and money factor 0.00205?
    Finally, does MBFS have the multiple security deposit discount in Florida and how much is the discount?

    Many thanks!
  • wtikwtik Posts: 26
    What kind of deals are available for current MB owners?
    Anyone can tell what the MF for GL 450?
    What is release date for the 2014 model and any new things added to it?, is it worth waiting for or just go with the 2013 ?
  • ohnims2ohnims2 Posts: 28
    Hey guys, today, I was quoted a lease on a new GL450.
    Here is the breakdown:
    MSRP 63,900
    Black MB-Tex, P02 5,850, P44 1,290, Pano 1,090, Ill running boards 670, pre wiring 170
    Subtotal: 72,970
    Destination: 905
    Total Sticker: 73,875

    With tax title and registration, 4,936 due at signing and 899 per month. 3 years, 10,000 miles per year.

    I think I could certainly do better, but I wasn't given any details about what the price of car he was basing it on or anything

    What do you guys think?

    Thanks!
  • wtikwtik Posts: 26
    I think you can do a lot better. i.e no money down and lower mo. Payment
  • Hello Car Guy,

    I was given a lease price for a 2014 GL 550 and the price of the vehicle is $91,880. I have a trade with about 10 grand that will go towards the GL550 and the dealership gave me these numbers. $1,555+tax for 36 months (10k miles a year). Is that a good deal. Seems kinda of high to me for a $91K car.
  • ew13806ew13806 Posts: 1
    Hi,

    I am on the market for a 2013 GL350/450. I heard this is the time of the year the price of the current year model (2013) can get way lower than invoice when the dealers start to bring in 2014 model. Is that true? How much discount can it be typically?

    Thanks,
    EW
  • e92s65me92s65m Posts: 2
    edited August 2013
    Hi Carman,

    What is the residual and money factor for august for 2014 GL 350 for 36 months 12k/year?

    Thanks,
    SD
  • burnspburnsp Posts: 3
    What is Mercedes-Benz Financial's August 2013 buy rate lease money factor and residual value for a 36-month lease of a 2013 GL450 with 12,000 miles per year?

    Thanks for you help.
  • glipperglipper Posts: 13
    I was quoted a money factor of .00165 and a residual of 64% for a GL450.

    Thoughts on my deal (I don't like it):

    MSRP: $74,640
    Price: $70K
    36 month includes tire package and service

    10K miles: $902
    12K miles: $922
    plus $2500 down

    Thoughts?
  • burnspburnsp Posts: 3
    Glipper

    Does that include tax in the payment?
  • glipperglipper Posts: 13
    Tax included.
  • burnspburnsp Posts: 3
    I was offered a similar deal.
  • glipperglipper Posts: 13
    I think i am taking the deal. Adding in the tire protection and annual services seems to make it a fair deal. Thoughts?
  • Can someone provide the August lease rates and residuals for a 2014 Mercedes GL350 BlueTec? How do the diesel residuals compare to the GL450 and GL550?

    Thank you!!
  • Quoted yesterday:

    2014 GL450 $80575
    36mo/15k mi
    .00175 MF 61% Res
    $5k down $1133/more

    Its Greek to me..any thoughts?
  • johnindenverjohnindenver Posts: 4
    edited August 2013
    Looking for MR and Res %.

    This is what I was quoted from a MB dealer here in Denver today 8/26/2013:

    2014 GL450
    Leather, P01, 319 Lighting, 322 Appearance, Driver/Pass Contour, Heated/Vent Front Seats, Panoramic Sunroof, Heated Steering Wheel, Trailer Hitch, 3 zone, harmon/kardon, power easy entry, pre-wire rear, heated rear, keyless-go, 980 chrome, 933 lane track, 996 park assist pkg

    w/ $925 destination delivery
    total of $83620

    36mo lease/15k miles per mo
    $5000 cash

    $79762 gross cap
    $3506 cap cost red (see $5k down breakdown below)
    residual value $51008.20
    Rent Charge $11224
    Base monthly $1013.13
    Monthly Sales/Use Tax $40.52
    Total Monthly $1053.65

    $5000 cash down breakdown:
    3506.36 cap cost red
    sales/use tax $427.79
    title fee $12.20

    $595 Vehicle Turn In Fee (if not buying, and we don't plan to)

    I think the residual value is 64% ???

    And I think the MR is 0.001636 which is (*24) = 3.92%
    (We should be Tier-1 credit rating.)

    But this is the first lease I've seen and not sure on my calculations.

    Is this a good deal?

    He did ask our tax district, so taxes should be included.
    (We're unincorporated Douglas County so tax rate is pretty low here.)
    And he said we can get further $2000 discount if using USAA or United Mileage Premier.

    I'm really leery of all these lease terms.

    Thanks for the help in advance.

    -John
  • marc68marc68 Posts: 27
    I calculated your figures and I think your MF is .00225 and not .001636.
    I have also been shopping for a 2014 GL and have been told that the buy rate for Tier 1 is .00225. I am doing a 36 month prepay and have been told that the rate reduction for a prepay is .0008. I have read conflicting things about the Tier 1 rate. I have read its .00175, .00205 and my dealer says its .00225. I don't know what to believe. However, based on your payment, I feel the rate being used is .00225.
  • mlevinemlevine Posts: 230
    Residual value is a set number. The money factor is important to know as this number can be increased by the dealer for extra profit. You may not be able to negotiate much off MRSP as the GL series are flying off the lot. You are using the $3500 to lower MRSP $83620 to $79762. Not sure of where the remaining $1500 is going. I do not think this is a good deal, but dealers are not discounting this vehicle. You may be eligible for fleet discount.
  • jim53jim53 Posts: 109
    I am also interested in finding out what MBF's current residual and mf are for a 2014 GL450 for 36 and 39 months and 12K miles per year. Any help would be greatly appreciated.
  • First, thanks for marc68 and mlevine for responding so quickly.

    I've done a ton of research on this whole lease thing since my post, I'm a computer guy so naturally put this all on an excel spreadsheet comparing a 2013 MB GL450 with a 2014 - with just about the same options (higher end options on both I believe).

    Here's the 2013 - $84394 includes base, options, destination&delivery, and maintenance plan ($1629) - 36 month lease with 15k miles per year - MR is 0.00200 - translates to 4.8% - residual value is 61% - which makes it $51480
    This is from a printout from MB dealer - looks like a screen shot of a 3270 mainframe screen from MB Financing. $6455.14 due at signing - with $5000 going to cap reduction and rest to first month payment of $954.08+12.20 filing fee+upfront use tax at 1% of $238.93+cap reduc. tax at 5% of $250. We have a low 4% tax rate (monthly use tax line item) where I live - payment would be $954.08 grand total (including tax)

    Here's the 2014 - $83620 includes base, options, destination&delivery, BUT no maintenance plan - 36 month lease with 15k miles per year - MR is 0.00245 - translates to 5.88% - residual value is 61% - which makes it $51008
    This is from a filled in lease contract from dealer. $5000 total down, of which $3506 going to cap reduction, and the rest to filing fee and those taxes. We have a low 4% tax rate where I live - payment would be $1053 (probably the same type of calculations as the 2013 deal) grand total (including tax).

    With the MF being lower on the 2013 (1.08% lower) the payment is lower even though they add in the maintenance plan plus on the 2013 we'd be doing a full $5k in cap reduction as opposed to the $3503 cap reduction on the 2014.

    I still need to play with the numbers to compare apples to apples on the cap reduction to see how the 2013 plays against the 2014.

    One question - 3-zone climate control is not included on the 2013 but is on the 2014. Does this mean the 2013 has a dual-climate control (1 for front, 1 for mid, and 0 for 3rd-row) or a single climate control system? I didn't really pay attention to it while there looking at it.

    Thanks again for everyone's help.

    -John
  • mb_rynamb_ryna Posts: 28
    JohnInDenver,

    Regarding the United airlines /MB partnership, how does that work?

    From a UA mileage bonus perspective, it's clear. If you buy certain make of MB, you get 25,000 miles (enough for a domestic ticket). However from a car discount perspective, if my understanding is right, there is no value.

    i was hoping it gave you a discount (like a fleet discount), or provided a certificate to take $x off the final negotiated price. From what I can tell, it just passes your name to local dealers and you get bids from them

    Can you shed some light as so how this works and where the value is?
  • mlevinemlevine Posts: 230
    I think you are putting a big down payment to lower cap cost and hence lease payment. I am not a big fan of doing that. For a 2013 would try to lower the cap cost more as th 2014's are out and this vehicle has significant deprciation, already coming to end of 3rd quarter of 2013. That being said, GL is a very hot vehicle and difficult to negotiate on. I think both money factors (2013 and 2014) are too high. Check with car man for GL 450 August money factors for both years. You may want to wait a few months and track the lease data. Consider ordering a 2014 with options you want and also wait for the winter event.
  • Here's what I've been told by the dealer and a little of it from the UnitedAirlines website under the Frequent Flyer programs page after I logged into United with my FF# and password:

    You have to be Premier Status on UA then you get $2000 additional off MSRP. Not sure how they connect the two. UA site says it's only good for C class and some others not GL, but Dealer said it was and would give it.

    Dealer also said if you have USAA insurance then $2000 additional off MSRP. I did not inquire if I could use both at the same time for $4000 off MSRP.

    The pessimist in me says this may be a bunch of BS. Dealer could use this "discount" against you by saying "I already discounted the car $2k so I can't give any more on the agreed purchase price". You can see how that argument is structured. It's probably tied to a referral between BM and UA/USAA that you'll never know that value.

    -John
  • Hi johnindenver,

    I, too, have a couple issues with your lease quote, particularly MF.

    1. I believe the base rate MF for a 2013 GL450 is ).00175 (=4.2% interest) (assumes top tier credit) so .00200 is a definite mark up.
    2. While I don't know the base rate MF for a 2014 GL450, .00245 seems too high as the highest I've ever seen for any new MB vehicle is .00225.

    In addition to further negotiating the sales price or leveraging incentives (e.g., fleet, USAA, etc.) to reduce cap cost, I would recommend MSD's with autopay as a means to buy down the MF. And, you get the deposits back at the end of the lease. Another alternative is to do a one-pay lease as that provides a reduced MF. I personally don't like that option as MB has been offering payment accelerator programs to waive 3-5 of your payments if you return and lease a new MB.

    Cheers!
  • Hi Carman, I'd also like to know the RV% and MF for August, 2013 GL450 and 2014 GL450, 36 months lease @ 15k miles.

    -John

    2014 GL 350 lease by e92s65m
    Aug 02, 2013 (9:37 am)

    Hi Carman,

    What is the residual and money factor for august for 2014 GL 350 for 36 months 12k/year?

    Thanks,
    SD
This discussion has been closed.