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2013 and earlier-Mercedes Benz GL-Class Lease Questions

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  • jb_turnerjb_turner Posts: 702
    Why did you pay $6800 down on a lease? If something happens to the car you will have lost that money. Forget about sticker you can better use invoice as a guage or just compare OTD.
  • neenneen Posts: 7
    Was offered the following deal:
    gl450 obsidian black, P1, appearance package, trailer hitch, prewiring for rear seat entertainment. MSRP $68605. cap cost: 64,995. 12K miles/year, 4.99 money factor, 58% residual. 5132 down (includes 1st payment, sales tax upfront). after tax payment $944.51/month

    Can't I do better on this? I'm also trading in a 2006 750li with 51K miles on it and they are giving me $28.500 for it.
  • Hi Car_Man--

    We are considering leasing a 2010 GL450 for my wife as her current lease is maturing. Can you tell me what the current money factor and residual are on the 2010 GL450 on a 36-month, 12k miles/year lease? If we scaled the mileage back to 10K miles per year, how much more would the residual be adjusted? My wife doesn't put a lot of miles on her car.

    Thanks in advance for your help!
  • Hi Car Man,

    We have an proposal on a loaded GL450. MSRP is $79,795. We plan to put $5000 down. We are in Virginia, so sales tax is 5%. For 36 month, 12,000 miles/year lease, dealer has offered monthly lease rate at $1175. Can you advise if this is reasonable?

    If you have them, could you provide the money factor and residual?

    We also looked at GL550 but they made it sound like the lease deals for those were much less attractive. Is that true or were they likely just trying to get us into a vehicle that was better for them?
  • Car man,

    What is the money factor and the residual for 15k, 20k/year on 36 months lease for Feb.?

    I was told you have to pay tax for the entire selling price upfront in Illinois. Is this true?
  • Hi Car Man,

    I am considering getting a GL450 P02 with running board, parktronic, etc. MSRP around $72K. The dealer told me to wait till the end of March for better deals on incentives. Should I?! Also, I am wondering what should I be paying for it for lease or purchase?! I am thinking no $ down, 36 month lease for 15or 18K per year.

    I am in a rental car now. Would really appreciate if you can give me any pointers on it. btw, I live in southern California.

    Thank you. :)
  • Hi neen. The money factor that you were quoted for this truck looks about right (MB Finance's .00209 factor is equivalent to an interest rate of around 5%).

    I have to ask, is the cap cost that you mentioned this truck's selling price or did you make some sort of capitalized cost reduction to get it to that level. It makes a difference.

    I see that you are considering paying a lot of money at lease signing. I always advise consumers to put as little money down as possible when leasing. Those who pay big bucks at signing risk losing part or all of it if their vehicle is totaled in an accident or stolen and never recovered.

    Car_man
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  • I'd be happy to help you out, sabrothe. Mercedes-Benz Financial's current buy rate lease money factor and residual value for a 36 month lease of a 2010 GL450 with 12,000 miles per year are .00209 and 58%, respectively.

    If you were to lease with only 10,000 miles per year, this truck's residual value would be 1% higher.

    Car_man
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    Prices Paid: Buying & Leasing Experiences Forum
  • Hi shanmase. Let me begin by saying that $5,000 is way too much money to put down when leasing. I always advise consumers to put as little money down as possible on leases. Those who elect to make a large payment at lease signing risk losing part or all of it if their vehicle is totaled in an accident or stolen and never recovered. Even through it means that your monthly payment will be a little higher, you're much safer going with a zero down lease.

    As far as whether this is a good deal goes, it would be much easier for me to tell if you were able to provide me with this truck's selling price. 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 how large a dealer discount you are being given, and in turn if there is any meat left on the bone so to speak.

    Mercedes-Benz Financial's current buy rate lease money factor and residual value for a 36 month lease of a 2010 GL450 with 12,000 miles per year are .00209 and 58%, respectively.

    Car_man
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    Prices Paid: Buying & Leasing Experiences Forum
  • Here's the info that you're looking for, wonpal. Mercedes-Benz Financial's current buy rate lease money factor and residual value for a 36 month lease of a 2010 GL 450 with 15,000 miles per year are .00209 and 56%, respectively.

    I believe that 15,000 miles per year is the highest mileage allowance that MB Financial publishes residual values for. If so, you will have to purchase additional miles on a per-mile basis for a lease with 20,000 miles per year. It is usually less expensive to do so at lease signing than it is to wait until lease-end and have to pay an excess mileage penalty.

    I know that Illinois has some terrible sales tax laws for people who want to lease, but I don't recall the specifics. You may be able to find out more information on this subject by visiting one of the following sites: Illinois Department of Revenue or CyberDrive Illinois.

    Car_man
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    Prices Paid: Buying & Leasing Experiences Forum
  • Hi nominivan4me. Mercedes-Benz current lease program is scheduled to run through March 1st. It is difficult to say what its March lease program will look like at this point. Having said that, dealers are almost always trying to do or say anything they can to convince consumers to finalize deals ASAP, so if a dealer told you to wait a month on leasing the GL that you are interested in there's a good chance that they may know something about what Mercedes is planning to do in March or what it usually does in March.

    I would be happy to use MB's current lease program to work up a sample payment on the truck that you are interested in for you if you provide me with an approximate selling price (or the dealer invoice price if you don't have a selling price). You can look that number up over in the New Vehicle Pricing section of Edmunds.com.

    Car_man
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    Prices Paid: Buying & Leasing Experiences Forum
  • neenneen Posts: 7
    car man, the $64,000 is the price I negotiated it down to. The MSRP was $68,500. Still deciding between this car and the escalade.
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,518
    Thanks for the additional information, neen. Let's crunch some numbers.

    According to my calculations, if you were to lease a 2010 Mercedes-Benz GL450 that has an MSRP of $68,500 and a selling price of $64,000 through Mercedes-Benz Financial right now for 36 months with 15,000 miles per year, your zero down, pre-tax monthly payment would be around $927.

    Car_man
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  • bigcat007bigcat007 Posts: 16
    Carman,
    Need to lease GL with P1 package. What will be monthly payment with zero down? MB website says $749 with $5000 down. Your estimate is almost $950 for zero down.
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,518
    Hi bigcat007. I'd be happy tow work up a payment on the exact vehicle that you are considering for you, but in order for me to do so I need you to provide me with its full MSRP and approximate selling price (or at least the MSRP and invoice price). You can find that data over in the New Vehicle Pricing section of Edmunds.com.

    Let me know and I'll crunch some numbers for you.

    Car_man
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    Prices Paid: Buying & Leasing Experiences Forum
  • bigcat007bigcat007 Posts: 16
    GL with P1, entertainment, lighting, runnning board comes around for $70,005 (MSRP), $65,167(invoice). The dealer is willing to sell for $65K. We want to pay $1,850 at signing for TTL and first months lease. We need 15K miles/year and 36 or 39 months which ever is economical. Do you expect better deal in April because Toyota/Lexus is having huge deal? We are also considering Lexus GX 460. Looked into Navigator and Escalade, they are $1050 lowest with above lease option.
  • wcknightwcknight Posts: 1
    edited March 2010
    Hi, my car is coming off lease at end of the June. I would like to lease a GL550 with 7500 miles/yr . What should I be paying for the total cost of the car as well as the monthly lease amount. The Manhattan dealer seems only capable of charging MSRP. Thanks.
  • isha1isha1 Posts: 7
    Can you please tell me what the residual and money factor are for the 2010 GL 350 bluetech for 36 month term/ 10k or 12k miles? I am getting conflicting information from different websites. Thanks.
    Also, is the Edmunds TMW the same type of calculation as the Consumer Reports Bottom line pricing? Thanks.
  • icb2779icb2779 Posts: 25
    I the the money factor is the standard rate of .00385 and the residual is 56% for 10k per year and 55% for 12k per year. I maybe able to help you. What is the M.S.R.P. of the GL350 your looking at? What state are you buying it from?
  • isha1isha1 Posts: 7
    Thanks. The msrp is $69325 and I could get it from North or South Carolina; whichever would be a better deal.
    Could you also give me the residual and current money factor for the 2010 GL 450 for 10k per year and 12k per year?
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