Howdy, Stranger!

It looks like you're new here. If you want to get involved, click one of these buttons!





2013 and earlier-Mercedes Benz GL-Class Lease Questions

13468923

Comments

  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi bwest1. Mercedes-Bens just introduced its new May lease program today. You should be able to use its "Value Added" program to lease the vehicle that you're interested in for 39 months using its 36 month terms.

    Mercedes-Benz Financial's new May buy rate lease money factor and residual value for a 36 month lease of a 2010 GL450 with 15,000 miles per year are 00195 and 54%, respectively for consumers who qualify for its top credit tier.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • luxmalluxmal Posts: 1
    edited June 2010
    Hi, Car_man

    Just got a quote from a dealer.

    2010 GL 350, Vehicle price: $75625

    Term: 36 month, 12K miles/y

    Residual Value: $40621.61

    Monthly payment (without tax): 1211.73

    Is it OK or too high? Thanks

    Btw, how do you think about the First Class Lease Protection?

    Regards

    Ben
  • yjpyjp Posts: 3
    Someone told me that instead of putting down payment, it is wise to put down as a security deposit. Does anyone know how these things work? Also, what would be a good monthly payment with the following terms; MSRP: $68K, Selling Price: $64K, D/P or Security Deposit: $7,000, 15K miles/year. I live in Northern VA. Look forward to hear from the EXPERTS!!
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi Ben. I personally wouldn't pay for any extra protection on a lease.

    You never mentioned what this truck's selling price is. The selling price is a very important number to know when negotiating a lease. The selling prices of leased vehicles are negotiable, just as if you were paying cash for or financing them. Without this number it is difficult to tell exactly how large a dealer discount you are being given and if there is any room left to bargain. Find out what this truck's selling price is and let us know. I'm sure that either myself or another knowledgeable community member will gladly give you their opinion on it.

    For now I can tell you that Mercedes-Benz Financial's current buy rate lease money factor on the 2010 GL450 is .00195. Make sure that the dealer uses that factor to calculate your vehicle's monthly payment.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi yjp. Many banks allow lessees to buy down the money factor that is used to calculate their vehicle's monthly payment by making additional security deposits. The last time that I checked, Mercedes-Benz Financial allowed consumers to make up to ten additional security deposits on their lease with each additional deposit lowering the money factor that is used to calculate their monthly payment by .00007.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • revets2revets2 Posts: 16
    Hi Car_man...why would one want to pay additional security deposits to lower the money factor after the lease is already in effect?

    Am looking to take delivery this week of a 2010 GL350 BT, MSRP $73,205, invoice $68,643, looking to put $1,600 down for 36-39 mos, 15k/year.

    Wondering if we should buy instead. This is the last 2010 shipment before the 2011, heard we might want to extend our lease on our current GL450 and lease a new 2011 GL350 though not much difference in the actual model, heard the residuals could be improved.

    Wish I'd known about the MB Club of America rebate! Arghhh!

    Thanks in advance.
  • revets2revets2 Posts: 16
    Hi Car Man...

    An update on the above situation. Dealer quoting $66,543 on the above car with MSRP of $73,205 and invoice $63,745...a good deal, we think.

    Perhaps it's all relative, but this lease is almost $10k more over 36 months than current lease on our GL450 which ends in 8 days. We are about 1,500 miles over the mileage. The bank fee has risen $300 ($795 to $1095). Overall, the residual and money factor are killing us. Our last lease had a residual of 57% and money factor of .0027.

    We arrived at the dealer to look at our new car and there is body damage they need to repair. We'd like them to repair the damage before we take possession of the vehicle. They'd like us to take possession of the vehicle and return it for repairs and take a loaner (the last loaner we got on a recall repair was a Ford Excel, not a Mercedes).

    Wondering if we should extend our current lease and wait for the 2011 model this month. The car with body damage was ordered by us with no obligation to take it and is the last run of the 2010. We were told the 2011's were the same, but they are updating the passenger head rests and I think the Blind Spot Assist option would be nice to have. We would also have to pay an additional $1,000 to re-register our current vehicle.

    TIA
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hey revets2. No one would make additional security deposits after they have already taken delivery of their vehicle, but MSDs are a useful tool to lower vehicles' monthly payments prior to taking delivery.

    It's true that the residual values of the 2011 GL450 will be better than they currently are for the 2010 model. However, Mercedes'Benz is currently providing lease support on the '10 GL450...specifically a special .00195 money factor for people who qualify for its top credit tier. I doubt that MB will offer lease support on the '11s when they first arrive. This lack of lease support on the '11 model will likely make it more expensive to lease than a '10 even with a higher residual value. I wouldn't bother waiting.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hey revets2. I'm not surprised that you're finding an SUV more expensive to lease today than it was several years ago. Before the whole spike in the price of oil and great recession, manufacturers were overestimating vehicles' residual values. As a result, the cars and particularly trucks were coming back at lease-end weren't worth anywhere near what banks had estimated and they were taking a bath. Most banks have since realigned vehicles residual values. You will find that most SUVs are more expensive to lease to day than they were several years ago.

    As far as the acquisition fee goes, Mercedes-Benz Financial's current base acquisition fee is only $795. Any dealer that quoted you $1,095 is attempting to mark the base fee up by $300 to add additional, hidden profit to your deal.

    There is absolutely no way that I would take delivery of a vehicle that has had any sort of body damage repaired on it. Definitely go with a different truck.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • dextersoft007dextersoft007 Posts: 2
    edited July 2010
    Currently looking to lease GL450 P2 package. Went to a dealer to get some quotes. I am not expert in leasing vehicles,but I think this is the worse deal possible. GL450 P2 fully loaded. Dealer wants to lease at $80,000 15Kmiles for 60 months(5 years),but I told the dealer that I want a monthly payment in the neighborhood of $800-$900. As a result of that request I would have to put down $21,000. Does the asking price and the down payment are not absolutely insane?
  • additional info. GL450 2010. No MSRP was disclosed. You thoughts?
  • john2011john2011 Posts: 4
    Hi Car Man

    do you happen to know what are the buy rate lease money factor and residual value for 2010 GL450 with 15k for month of July?
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    $21,000 down :surprise: . You obviously know not to do that. You really shouldn't lease for 60 months either. You would be much better off going with a 36 month lease. I realize that the truck that you are interested in is probably much better equipped than the one that Mercedes is advertising a lease payment on, but when MB is touting $769 per month with $4,300 down for 36 months on a GL450 the dealer has to have some nerve to offer a consumer $900 per month with $21,000 down for 60 months.

    It sounds to me as though you should shop around with a few other dealers. I certainly would. Find out the MSRP and selling price of the GL that you want and shoot for as large a discount as possible.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hello john2011.

    Mercedes-Benz Financial's current buy rate lease money factor and residual value for a 36 month lease of a 2010 GL450 with 15,000 miles per year are .00260 and 54%, respectively for consumers who qualify for its top credit tier.

    When negotiating your lease on this truck, make sure to take advantage of the $2,700 dealer cash that is currently available on it.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • Can someone tell me what the money factor and residual is on these cars for September? I am trying to determine how the 10s compare to the 11s at this point.

    I have an offer for 36 mo lease of 3485 down/999 month (including tax 9.25%) on a MSRP 74,545 reduced to 64,135 on a 10. Not clear to me if 11 is the way to go if I lease.

    Thanks.
  • MSRP 75,655 disounted 4k to 71655 on GL 450 2011. 1049.81/mo with 3,500 down. Dealer says .0214MF and 61% residual. Is this a good deal?
  • I just saw the mgr's lease special of about 6500 down, 10k miles/year over 36 months at 729/month. With increase to 15k miles, i'm told it will be about 800/month pretax. Is this a good deal? If not, what is my best bet? Thanks,
  • Don't know but here is the comparison deal I ended up with on my search. FYI you can't tell whether your deal is any good because you don't show MSRP Total for your vehicle or negotiated price, as well as money factor and residual value.

    My deal that i finalized this week was:

    Sticker total 75,885, discounted 6,500. Lease on 10k/year miles is 3,000 down, 981/month, 36 months. MF .0214 with residual of 61%.
  • I'd be happy to help you out, rumandsun.

    Mercedes-Benz Financial's current buy rate lease money factor and residual value for a 36 month lease of a 2011 GL 450 with 15,000 miles per year are .00214 and 58%, respectively for consumers who qualify for its top credit tier.

    The numbers for an otherwise identical lease of a 2010 model are .00240 and 52%.

    The lease program on the 2010 model is slightly worse than it is on the 2011 model, but Mercedes is providing $2,700 dealer cash plus an additional $1,400 on leases of this truck.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • rumandsun, can you name the dealer you worked with? and is this a 2011?

    thanks!
  • kjhokjho Posts: 4
    Hi,

    I got an offer for a 2011 gl 450, $76190 msrp for 1 total pay of 34960. The dealer said this is based on a $70550 negotiated price. Is this a good deal? From what I read, it seems like you lose your down payment in the event of total loss, is there a way to protect your self from this scenario?

    thanks.
  • Sorry don't know the answer but if the dealer uses Mercedes money factor and residual the only thing that will count is the final price. You can plug in any down payment you want including a low one to protect yourself.

    You need to know the MF and the residual for the number of miles you want to drive.
  • kjhokjho Posts: 4
    12k miles/ yr and the residual is 46197. the MF is .00215.
  • kjhokjho Posts: 4
    12k miles/ yr and the residual is 46197. the MF is .00215.
  • ginleiginlei Posts: 9
    Hi Car Man,

    Do you have the Oct 2010 rates for the GL yet? In particular the GL450 and GL550, for 15k annual miles. Thanks!
  • I certainly do, ginlei.

    Mercedes-Benz Financial's October buy rate lease money factor and residual value for a 36 month lease of a 2011 GL450 with 15,000 miles per year are .00194 and 58%, respectively for consumers who qualify for its top credit tier.

    The numbers for an otherwise identical lease of a 2011 GL550 are .00240 and 50%.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • jimmy24jimmy24 Posts: 10
    Don't know if this is good or bad, but if it helps on going rates, I just leased a 2011 w/ the P2 package at 15mi/year over 48 months for no money down at $1089/month. Seems like a good deal. Little longer than I wanted but no money down and all the extras (appearance package, etc.) was nice.
  • ginleiginlei Posts: 9
    that seems high ... 48 mo lease should be much cheaper than 36 mo, all else being equal

    i just got a 2011 GL450 as well, pretty loaded, MSRP 75,660. P2, lighting pkg, appearance pkg, parktronic, blind spot, illuminated running boards, etc. steel grey metallic on black.

    36 mo lease, 15,000 miles per year. no money down (aka no cap cost reduction). drive off is only first month's payment and CA DMV fees. $975/mo + tax

    really nice car, enjoying it so far. :)
  • I am looking to lease GL450 with package 2 and entertainment pkg. Did anyone lease car lately with such options, whats best offer once could get? looking to lease in a week. Would appreciate prompt response. Thanks so much
  • I am looking to lease this as well, in NJ...can some post their experiences...
13468923
This discussion has been closed.