2013 and earlier-Mercedes Benz GLK-Class Lease Questions

doheny1

Wow, thanks for your reply. So for a 24 month lease a $1,000 down at signing and about $470 a month is reasonable?

doheny1

Car_man Or anyone else that knows:

What can I expect to pay for a GLK 350 on a 24 month lease with black interior, black exterior, and panoramic sunroof? If I put about 1,000 down what would be a reasonable monthly payment? For some reason the dealers don't seem to be willing to go below 750 or 800 a month with 1,000 down? Isn't that way too much? Please help.

CarMan@Edmunds

Hi doheny1. I would be happy to work up a lease payment on this truck for you using Mercedes' actual lease program. However, in order for me to do so, I need you to provide me with ideally this truck's MSRP and approximate selling price...or at least just the MSRP. Let me know and I'll crunch some numbers.

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polyslo

I was looking at the 4MATIC GLK 350 yesterday. They had to do a dealer trade for a particular color. The one we were looking at had a base MSRP of 35.9K. However it had too many miles on it. He found another with less miles and the same exact option, with a higher base MSRP of $36.6. He explained the difference due to the cheaper one being a factory demo. I checked MBUSA web site, and the MSRP is $36.6, but edmunds is reporting $35.9. Can anyone enlighten me on the difference? Thanks.

ss2878

njjoe-

What dealer and salesperson did you use to get this deal?

Thanks.

ss2878

Please let me know what dealer and the saleperson you worked with for this deal.

Thanks.

Piaya20

Hi Car_man,

Do you have Mercedes-Benz Financial's current (for SEPTEMBER) rate lease money factor and residual value for a 36 month lease of a 2010 GLK350 4Matic with 15,000 miles per year ?

We have asked for a quote way back in July from a dealership in PA and it was .00247 and 51% respectively (just like what you said in your previous post). This month, it seemed like the money factor has increased.

Thank you so much.

CarMan@Edmunds

I certainly do, Piaya20. Here you go. Mercedes-Benz Financial's current buy rate lease money factor and residual value for a 36 month lease of a 2010 GLK350 4Matic with 15,000 miles per year are .00247 and 51%, respectively. Amazingly, these numbers haven't changed since the last time I gave them to you several months ago.

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crestonave

You're in NY? I ask because I'm trying to determine how much of that payment is tax. What's the mileage allowance?

btedstrom

carman, any idea on the money factor and residual on a 36 month lease of a 2010 GLK350 4Matic with 10,000 miles?

crestonave

I haven't shopped recently but I would do that deal. May I ask what dealer you're talking to? Thanks!

CarMan@Edmunds

Hi btedstrom. Here's the info that you're looking for. Mercedes-Benz Financial's October buy rate lease money factor and residual value for a 36 month lease of a 2010 GLK350 4Matic with 10,000 miles per year are .00247 and 54%, respectively.

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mmratner

We are buying a house with a garage door too narrow for our MDX, so we are looking at the GLK. We'd like to lease it but are in no huge rush - do you think we'd be better off doing a deal now / December on a current year model, or would it make sense to wait for 2011s, if there is a chance that their residuals would be higher?
Also, I see people mentioning deals below invoice - are there current dealer incentives that make those deals possible? Thanks.

phantom12

THE BEST DEAL I COULD FIND SO FAR ON A 2010 GLK4WD

P1 PACKAGE
MULTIMEDIA PACKAGE
APPEARANCE PACKAGE
HEATED SEATS
IPOD/MP3 INTERFACE
PANORAMIC SUNROOF

10,000 MI ---
$599.00 MO--39 MO. LEASE

MY ONLY PROBLEM WITH THIS IS THEY WANT $3756.00 UP FRONT FOR TAXES ,TAGS, AND FEES. TAXES AND TAGS SHOULD NOT COST MORE THAN 2000.00 . I'M HOPING I CAN GET AWAY WITH NOT PAYING THE RIDICULOUS FEES.(BANK FEE AND DOC FEE). PLUS IS THERE ANY WAY OF GETTING OUT OF THE RETURN FEE ( ABOUT 500.00) AT THE LEASE END?

redbull321

I'm looking for the current MF and Residual for a 2010 GLK. 12,000 MI, 36 Month.

vinrun

At the end of your lease, if you lease another Mercedes there will be no $500 fee. This is called a disposition fee. I agree that this fee stinks!

CarMan@Edmunds

Hi redbull321. Here's the information that you're looking for. Mercedes-Benz Financial's current buy rate lease money factor and residual value for a 36 month lease of a 2010 GLK350 4Matic with 12,000 miles per year are .00213 and 53%, respectively.

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hope3702

I am starting to research which Small SUV to go with and I was leaning towards Q5 till I realized it was 700+ to get it the way I want...From reading here it looks like the GLK is more aggressive in terms of pricing...Did anyone who bought GLK compare to Q5 and am I assuming correct on the pricing?

waltaz

Hey car man...what are the lease numbers (MF and residual) for the GLK RWD and AWD for 36 months and 18K miles/year. Thanks, Walt.

CarMan@Edmunds

Here you go, Walt. Mercedes-Benz Financial's current buy rate lease money factor and residual value for a 36 month lease of a 2010 GLK350 AWD with 15,000 miles per year are .00277 and 55%, respectively.

The numbers for an otherwise identical lease of a 2WD model sre .00300 and 55%.

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

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landrover1

MB Advertised Lease?

Hey car man can I expect to do any better at the dealer than the advertised lease they have out on the 2010 GLK350W4 equipped with Premium package (P1), Heated Front Seats, and MSRP of $41,365. Dealer contribution of $1,075 required for the $489 lease special?
39 Month Term
$3750 Down Payment
NA Security Deposit
10000 Annual Mileage

Do you have any idea what the May rates will be higher or lower than they are now?
Thanks

CarMan@Edmunds

Hey landrover1. Generally speaking, manufacturers' advertised lease payments leave a little meat on the bone so to speak. MB's official payment on the 2010 GLK350W4 assumes a dealer discount of around $800. The advertised vehicle probably has a gap of around $2,600 between its full MSRP and dealer invoice price. That means that the price used in the ad is probably around $1,800 or so over invoice. There's definitely some room to play with there. Ask the dealer to knock another grand off of this truck's selling price and see what happens. Either that or comparison shop a little. You don't have anything to lose by trying to get this vehicle for a little bit less.

Mercedes-Benz's February lease program is scheduled to run through today, March 1st. It is difficult to say what its May program will be like at this point.

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jackykw

Hi Car_man,

Do you think the March program will be better after March 1st? Thanks.

CarMan@Edmunds

Hi jackykw. We won't know officially until tomorrow when manufacturers officially report their U.S. sales, but according to everything that I have heard February was a lousy month for auto sales. I have heard general rumblings that many manufacturers plan to get more aggressive with their promotions, but nothing specific about Mercedes-Benz yet. If I was in the market for a new GLK, I personally would wait to see what the March programs are like. Having said this I must add the disclaimer that it is difficult to predict exactly what manufacturers will do with their future programs and there's no guarantee that the March program won't be worse.

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jackykw

Thanks Car_man, I totally understand. I am in search of Leasing a GLK 350. Base on the Feb MF and Red. It looks like the W4 is better deal than the W2. Am I correct?

CarMan@Edmunds

No problem, jackykw. You're correct, the 4WD GLK's lease program has been consistently slightly better than the 2WD version's program.

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jackykw

Hi Car_man,

I have some simple leasing questions but I always got different answer from time to time. I understand different states has different rules for the tax you paid for the leasing car. In my understanding, the only tax I need to pay for the car should be my local county tax rate of the leasing monthly payment (I live in California BTW). However, some people told me the tax is based on the MSRP and into your monthly payment. I got really confused now. Can you help me to clearify this?

Also, is that true the MF and the Red are the sam as last month for now for the GLK 350 2W and 4W? And will there be any different for the 12k and the 15k?

Thanks a lot.

zeus1

I'm looking for the MF and Residual % on the GLK 350 4matic for 36 months and 15,000 miles per year.

vsc1

HOW DO THEY ARRIVE AT THE $$ DUE AT SIGNING AMOUNT.
i just purchased a 2010 GLK.
P1 package,multimedia,sport appearance,ipod & heated seats.

total 45,985.00
15k per year
36 month lease.

605. per month
5025.00 due at signing

** oh,and he threw in tinted glass no charge**
am i in the ball park ?i always walk out thinking i was mugged.

jayrider

If that includes taxes you did very well. If taxes are on top then it is just average -- not bad -not great. Rolling as much of the 5k down into the lease is the best way to go. The payments will be about $150 more per month. Put the 5k in the bank and draw down on it to effectively lower your monthly cost.
What was your msrp, discounted price, moneyfactor, and residual?

econ101

Hi Car Man, the following is a quote I got, would like your inputs. Thanks!

2010 GLK 350W4,
MSRP including destination & Delivery $47,865
Cap Cost $44,166
36 month, 7,500 miles/yr
59% residual
Money Factor .00183
Monthly Payment $665 including 9.5 %tax

$1,288 drive off, - $1st payment $665+ Sales TAx upfrant $4.28, 1st yr Fees $574, other upfront Fee $45.

Thanks again.

CarMan@Edmunds

Hi jackykw. Some states charge sales tax on only your lease payment, others charge tax on the vehicle's entire selling price. I'm not sure how sales tax is calculated on leased vehicles in your area

Mercedes-Benz Financial's current buy rate lease money factor and residual value for a 36 month lease of a 2010 GLK350 2WD with 15,000 miles per year are .00204 and 55%, respectively.

The numbers for an otherwise identical lease of a '10 GLK350 4WD are .00183 and 55%.

If you were to lease with only 12,000 miles per year, these vehicles' residual values would be 2% higher.

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CarMan@Edmunds

Hi zeus1. Please see my previous post for the information that you're looking for. Good luck and let us know if you have any other questions.

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CarMan@Edmunds

Hi econ101. The money factor that you were quoted is right in line with Mercedes-Benz Financial's buy rate for this vehicle. That's a good thing.

Let's look at the other negotiable aspect of this deal, the selling price. While I don't know for certain because I'm not sure how this truck is equipped, it looks to me as though the selling price that you were quoted is right around or possibly even slightly under dealer invoice. That's an excellent deal.

If you like the GLK, I personally don't see any reason not to go for it.

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jackykw

Thank you Car_man for answer my question.

I am currently in California right now, is the tax only on the lease payment? I tried to find the answer online, but I got mixed answer everywhere and I think I should better ask the expert here.

I also have another question. Last time I went to MB, the rep told me that MB financial only use TransUnion credit score, is that correct? Also, in order to get the money factor .00204, what credit score I need to be in? I got 737 from TU and about the same on the other two, do I quailified to that? Thanks.

kyfdx

California taxes the monthly lease payment...

However, anything paid upfront is also taxed (acquisition fee, doc fee, cap cost reduction).

regards,
kyfdx

jackykw

Thanks kvfdx,

That totally answer the tax question. Thanks kcfdx.

Now I just need for the Credit score of which MB financial using for Tier 1. Thanks.

jackykw

Hi Car_man,

I am able to lease a car tomorrow and the sale rep told me that the acquisition fee for it is $1095.00 and Doc fee $45, and they are going to charge tax on them.

My question is everywhere I saw the acquisition fee is $795 and she told me that CA is $1095.00 Is that truth? Also, can they charge sale tax on it even it is not a product? Thanks.

kyfdx

The base fee is $795.. MB Finance allows them to mark up the fee for extra profit (which they are doing).

CA decides what is taxed... Acquisition fees and doc fees are taxed in CA (as they are in most states).

jackykw

Thanks people.

Got the car yesterday. 36-mon lease.
MSRP: $40545
OTD: $40000

Wasn't able to get the 0.00204 due to credit. Got 0.00221 at the end with about $2300 drive off includes acquisition fee+doc fee+$525 first month+DMV+about $580 cap deduction.

Do you think it is a good deal for a 36-mon/15K lease? Thanks.

ksuh2000

Just got a quote on 2010 GLK in NJ dealer.
1) MSRP 41,740
P01 package
4,000 down(1st month, acquistion fee and cap reduction)
499/mo incl tax
10,000 miles/36mo

2) MSRP 43,195
4,000 down(1st month, acquistion fee and cap reduction)
525/mo incl tax
10,000 miles/36mo

Thet said this is like a house deal. Any thoughts? your inputs will be very much appreciated.

beerman2

Do you have the MF, exact amount of cap cost reduction you are paying, final cap cost (or selling price) of the car, and residual value? Also, how much is the acq fee?

aroed

Is it advantageous to pay my entire lease off up front (every dealer has told me not to do that since I don't save any money). Therefore I'm less concerned about monthly payment and rather what the FINAL lease will be in 3 yrs. Here is a quote I received in California:

39 months = $20688/12k miles/yr

I don't intend on buying this lease at the end.

Any suggestions would be appreciated.

ckool

Hi jacky:

Which dealership you went to? if u don't mind to share

Thanks

ckool

HI Car-Man:

Just wondering if you can provide the MF and % of residual of 2010 GLK for 36 months and 12,000miles per yr.

Thank you for your help

CarMan@Edmunds

Hi ckung. Here's the information that you're looking for. Mercedes-Benz Financial's current buy rate lease money factor and residual value for a 36 month lease of a 2010 GLK350 4WD with 12,000 miles per year are .00164 and 55%, respectively.

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ckool

Car_Man:

Thanks. What about for the GLK350 FWD? Does it have the same residual and money factor?

thanks

CarMan@Edmunds

You're welcome, ckung. The numbers for a 36 month, 12k lease of a '10 GLK350 2WD are .00186 and 55%, respectively.

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icb2779

What kind of lease numbers are you getting?

ckool

Car-Man:

Does the MF and % of residual for GLK FWD/AWD changed for June?

thanks