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2013 and earlier-Mercedes Benz GL-Class Lease Questions

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  • My Leasing Guru,

    I am very new to leasing. I am planning on leasing a Year 2009 GL450 and the dealer is offering following Deal:

    GL450 LEASE
    ($689.00 per mo/48 mos/$6583.00* at Signing) ($0.25 per mi Charge Over 40,000 mi)
    *NOTE: Does Not Include Tax, Title & Registration Fees.

    Customer Incentive:
    1.9% Financing
    (Expires 4-30-09)

    BTB, I live in Texas, Collin County where the sales tax is 8.25%.

    Could you pl. advise if this a good deal? If not how much should I be paying?
    Thanks a bunch in advance
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,518
    Hi gl450proud. Since you are new to leasing, you definitely should check out the following informative articles that are available here at Edmunds.com prior to visiting any dealers: 10 Steps to Leasing a New Car and Calculate Your Own Lease Payment.

    In short, the best way to get a good deal on a leased vehicle is to negotiate as low a selling price as possible on the model that you want and then have the dealer calculate your truck's monthly payment using Mercedes-Benz Financial's buy rate lease money factor.

    Mercedes is not currently providing any cash incentives on leases of the 2009 GL450. So just shoot for a selling price that's as close to dealer invoice as possible. You can look up the exact invoice price of the truck that you want over in the New Vehicle Pricing section of Edmunds.com.

    You can also stop by the "Mercedes Benz GL-Class Prices Paid and Buying Experience" discussion to see how much other community members have paid for similar vehicles lately.

    Once you have negotiated an attractive selling price, have the dealer calculate your truck's monthly payment using its current buy rate lease money factor of .00074 and you're in business.

    Car_man
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    Prices Paid: Buying & Leasing Experiences Forum
  • Car_Man

    Appreciate your thoughts on the following:

    2009 GL450 $59,200
    650 Arctic White
    104 Cashmere MB-Tex
    H04 Birds Eye Maple Wood Trim
    P01 P01 Package: Rear view camera, PARKTRONI $6,600
    R55 19" Wheels
    550 Trailer Hitch - 7,500 lbs. (Class IV) $530
    864 Rear Seat Entertainment - Multi-Source / $1,850

    SUBTOTAL $68,180
    DESTINATION & DELIVERY $875
    TOTAL $69,055

    SALE PRICE: $ 62,999.

    Lease 36 months/15,000 miles
    Money factor is .00174 (not sure if this was a typo from the dealer; he may have meant .00074)
    Residual 51% on a 36 month lease with 15,000 allowable miles/year
    MD sales tax: $ 3,785.88
    MD tags/licensing: $ 270
    MD dealer processing: $ 99

    Lease: $960/month (after taxes,tags, licensing and first month's payment)
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,518
    Hey stockwatch. Make sure that the dealer really is charging you the 074 month factor, not 174.

    The GL that you described probably has a spread of at least $4,700 between its full MSRP and its dealer invoice price. You are being given a whopping $6,000 discount on it.

    As long as the money factor is good, this looks like a very attractive deal to me.

    Car_man
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    Prices Paid: Buying & Leasing Experiences Forum
  • Car_Man:

    Do you know of any special May promotions for leases on the GL450? I'm also interested in the current money factor and residual on a 10,000 mile/year lease with 36 months.

    Thanks for all of your help!

    John
  • collmancollman Posts: 22
    Car_Man or Anyone?
    GL-450 Silver
    P01 Package, Trailer Hitch, Rear Entertainment Sys.
    MSRP 68,325
    Sell 64,900
    36 months, 10k miles/year
    Residual 54%, Money Factor 0.00074
    Only First Payment and License on delivery
    $886 plus sales tax

    Thanks.
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,518
    Here you go, John. Mercedes-Benz Financial's current buy rate lease money factor and residual value for a 36 month lease of a 2009 GL450 with 10,000 miles per year are .00074 and 54%, respectively.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,518
    Hi collman. The money factor and residual value that you were quoted are right in line with Mercedes' current program for this truck. That's a good thing, so let's move on to the other important number...the selling price.

    There is a spread of around $4,700 between the full MSRP and the dealer invoice price of the GL450 that you are interested in. You were quoted a dealer discount of $3,425 on it. That puts you at around $1,300 or so over invoice. I personally wouldn't be surprised if you were able to beat this offer by a couple hundred dollars if you are in an area that has a decent level of competition, but that's not bad.

    Car_man
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    Prices Paid: Buying & Leasing Experiences Forum
  • porcodinciporcodinci Posts: 14
    Car Man,

    If I am being quoted $1000 under invoice, do you think it's a deal I should jump on? It feels like the dealership would do whatever it takes to get this deal done, so I am wondering how low I can take it... On an MSRP of 72905, we're talking right at 67k.
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,518
    Hi porcodinci. $1,000 under dealer invoice is an excellent selling price for an '09 GL320. If I was in the market for one, I'd gladly pull the trigger on this offer.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • Looking at this SUV with MSRP at $70,755. Edmunds says people are buying this for $59,257. Does this include the $10,000 mfr to dealer incintive? Also, what is the MF and Res for 36mths with 15K/yr? Thanks all.
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,518
    Hi brentkhack. If I was in the market for an '09 GL320, I personally would shoot for a selling price of right around dealer invoice minus the ten grand dealer cash that is available on it right now.

    While the huge chunk of dealer cash that is available on this truck right now is very attractive, its lease program is not. Mercedes is no longer providing any lease support on the 2009 GL320. As a result, if you were to lease one through Mercedes-Benz Financial, you would have to use its standard lease program. Its current buy rate standard lease money factor is equivalent to an interest rate of nearly 9.5% :sick: .

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • I was told the res. value was 48% and the rate was between like 3.75% to 4.25% at one dealer. But they haven't called back to see if they can get access to this vehicle. One dealership in Houston has all 5 GL 320's. And that dealer didn't call back to give me how they come up with ~$1350/mth on a 36mths/15K lease. I don't want to hear MB dealers in Houston cry that they cant sell anything. And I am a returning cust. to turn in my current MB lease 5 mths early (current MB program).
  • What lease deals do you see on the 2010 Mercedes GL 450? How much are they coming off the MSRP? thanks
  • wlrdlrwlrdlr Posts: 7
    Hi

    I am interested in leasing a 2010 GL350 Diesel

    The dealer offered me the following deal.
    MSRP $70,795
    Selling price (claims to be) $64,560
    39 months / 12K miles yr
    $7000 total driveoff, $845 per month including 8.75% tax

    How much more of a better deal can I get? My target is $7500 down with $750/month incl. tax for this car

    Thanks
  • agrawalagrawal Posts: 49
    Know the bad side of this vehicle first before you buy it. If you fill with gas get ready for big expenses.
  • wlrdlrwlrdlr Posts: 7
    I am well aware the gasoline versions are gas guzzlers.

    Is there a bad side to the diesel? its 50-60 cents cheaper per gallon than 91 where I live.
  • agrawalagrawal Posts: 49
    If by mistake someone filled up gas then it will cost you arm and leg to fix it and if you drove the car with gas in it forget it you will spend your life time saving.
  • kopierkopier Posts: 7
    I did the math and the actual payment with term you included should be $791.00 includeing 8.75% tax

    the residual is 52%
    rate factor - .00135

    I do have to say however the selling price is very aggresive what dealer is offering this deal? I am in the market for a 2010 GL 450 and I am going to Fletcher Jones in Newport on Thursday to try to make a deal. Let me know and by the way $7500 down for $7500 is a little tight - You are almost there. Thanks
  • wlrdlrwlrdlr Posts: 7
    Mercedes of South Bay. They have a huge inventory as they are a volume dealer.
    Talk to Sung Park (nice, decent, wants to move cars)

    Don't waste your time on FJ if you are looking for a good deal - they are good [non-permissible content removed] kissers but I don't think its worth paying thousands more for :)
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