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2013 and earlier-Mercedes Benz GL-Class Lease Questions

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  • isha1isha1 Posts: 7
    Can anyone give me the most current residuals and money factors for the 2010 GL 450 for a 36mo lease, 10k per year and 12 k per year mileage?
  • autoboy19autoboy19 Posts: 90
    isha1,

    2010 GL 450 36 month lease buy rate money factor is .00209, 12k mile residual is 58%, 10k mile residual is 59%.

    2010 GL 350 Bluetech 36 month lease buy rate money factor is .00280, 12k mile residual is 55%, 10k mile residual is 56%.
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi isha1. 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 for consumers who qualify for its top credit tier.

    The residual value for a lease with only 10,000 miles per year would be 1% higher.

    Car_man
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  • revets2revets2 Posts: 16
    Hoping someone can help.

    Dealer is asking for a refundable deposit of $2,000 before he can show us the invoice on a car he may ship from upstate. I can understand if he wants an invoice for us to order a car, but do I really need to give him a deposit to just to know what the invoice is on the car?

    We've also heard if we're not planning on owning the car for more than five years, it's more advantageous to lease. We're not interested in owning the car beyond it's warranty.

    Can anyone tell me why the residual is lower on the BlueTec than the GL450, if the BlueTec is harder to get and in more demand?

    We'll most likely be using the USAA Car Buying Service if it gives us the best price.

    Thanks in advance for your feedback.
  • bwest1bwest1 Posts: 9
    Does MB offer 39 mos on GL450? If so, what are the lease factors / residuals?

    Thanks
  • jpdcjpdc Posts: 17
    Hi folks. The lease on my wife's 2007 GL 450 is ending in July. It has about 40,000 miles. I'm trying to figure out my options. I'm thinking about buying the car. The residual is just under $37,000, but MBF is offering an $1,800 incentive (guess they don't want it back) -- which brings the purchase cost to $35,000. That seems like a pretty good deal. Edmunds has the TMV slightly higher, and much higher for a certified car.

    Does anyone know what kind of financing MBF is offering? They won't tell me until they run my credit. It's fine, but I kind of resent the approach. Also, would that be in addition to the $1,800 or instead?

    MBF suggested that a low rate might be available if my dealer will certify the car. I didn't know that was possible if I buy off the lease. Any insights on what that entails?

    Thanks.
  • stevevasteveva Posts: 2
    edited April 2010
    MSRP $67805. sale price $60519.
    $0 down.
    $7200 security deposit. (to lower Money Factor to 0.00175 from 0.00209)
    $839 per month (including $1946 tax, $299 dealer fee , $118 tags, acquisistion fee $795)

    Residual is 59%, 10000 miles a year.

    How is the deal?

    Also, does anyone know if I can talk to the dealer to change to 39 month instead of 36 months?
  • locerlocer Posts: 3
    That sounds like a great price especially given there aren't any significant incentives at this point. I'm in the market and most offers have been about $4k less than MSRP for a base vehicle. Where was the dealer you purchased from? What were the options on this vehicle.
  • stevevasteveva Posts: 2
    Throw them an offer, they will seriously consider it. Do not go to dealership to talk :)
    Got P1+ running board + wood wheel + parcktronic.

    It is a MB dealer in DC area, not sure if it is allowed to post the dealer info here, you can PM me.
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi revets2. You don't need to give a deposit to the dealer for the privilege of having them show you this truck's invoice price. That information is available right here at Edmunds.com. Just hop on over to the New Vehicle Pricing section of Edmunds.com and look up the exact model that you are interested in, as you want it equipped.

    Given the fact that Mercedes is not running a knock your socks off lease special on the GL450 right now, there isn't much difference between leasing one through Mercedes-Benz Finance and financing one through it at 3.9% for five years. Both options are reasonably attractive.

    Not only are the BlieTec's residual values around 3% lower than the GL450's but Mercedes' is not providing any lease support on the diesel either. The 450 is the better deal right now. I wouldn't say that the BlueTec is in greater demand than the 450, just that Mercedes makes fewer of them than the 450 so they seem harder to get.

    Car_man
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  • 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
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  • 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
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  • 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
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  • 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
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  • 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
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  • 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?
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