2013 and earlier-Mercedes Benz GLK-Class Lease Questions

carhelppls

Hi Car_Man,

My husband and I are trying to decide what car to purchase and we need some help

can you please provide the Mercedes-Benz Financial's March buy rate lease money factor and residual value for the GLK 350 Base model for 39 months with 15K miles a year??

Also, do you know the same info for the Cadillac SRX? Which do you like better??

Thanks!!!

CarMan@Edmunds

I'd be happy to help you out, carhelppls. Mercedes-Benz Financial's current buy rate lease money factor and residual value for a 39 month lease of a base 2011 GLK 350 2WD with 15,000 miles per year are .00193 and 54%, respectively for consumers who qualify for its top credit tier.

The numbers for an otherwise identical lease of a base 2011 Cadillac SRX are 1.65% and 50%. As you can see, Ally publishes lease rates instead of money factors for the vehicles that it leases. You can convert its lease rates into approximate money factor equivalents by dividing them by 2400.

Hmmmm both the GLK and the SRX are nice vehicles. Normally I would go with a Mercedes-Benz over a Cadillac...however I personally am not a big fan of the GLK's styling and I might actually go with an SRX over it. Again though generally speaking I personally feel as though Mercedes produces better vehicles than General Motors does.

Car_man
Host
Prices Paid: Buying & Leasing Experiences Forum

storm10

Actually April leasing program seems to be a little better, because you can go only for 2 and a half year with lower payment. Just 30 months.

You can see all the current specials here: April 2011, Mercedes-Benz Financial and Leasing Specials.

If you click on "Sort By Lease Payment" on top of the page - you'll see that GLK has the 3rd lowest lease payment among all the Mercedes-Benz models...

eurocarguy

Can anyone provide me the money factor and residual on a 2011 GLK350 4matic with AMG Styling Package, Full Leather Seating MSRP $42145. I am looking to lease for 30 months 12k year. Thanks!

CarMan@Edmunds

Greetings eurocarguy. Mercedes-Benz Financial's June buy rate lease money factor and residual value for a 30 month lease of a 2011 GLK350 4Matic with 12,000 miles per year are .00064 and 60%, respectively for consumers who qualify for its top credit tier.

Car_man
Host
Prices Paid: Buying & Leasing Experiences Forum

renegadeofpunk

Carman, can you please provide the money factor and residual on a 2011 GLK350 2WD, 12k per year? I'm open on the lease term depending on what the rates look like (30, 36, or 39 months). I'm not sure if options make any difference, but I'm looking at the Premium 1 package for sure, and maybe appearance and lighting packages. Thanks in advance!

CarMan@Edmunds

Hello renegadeofpunk. Mercedes-Benz Financial's June buy rate lease money factor and residual value for a 36 month lease of a 2011 GLK350 2WD with 12,000 miles per year are .00097 and 53%, respectively for consumers who qualify for its top credit tiers.

I believe that the numbers for an otherwise identical 39 month lease would be the same as a result of Mercedes' "Value Added" lease program.

The money factor would be the same for the 30 month term, but the residual values would be 58%.

Car_man
Host
Prices Paid: Buying & Leasing Experiences Forum

fgaz1

Hello again Car Man. ..once again coming to your aid as I have done a few times. (has helped me in the past-and I'm sure everyone else as well). Looking to lease. 44,600 sticker. Glk 350 4 matic. Needing residual. 30 month. (12,000 miles). Money factor. ( got top tier credit here). I believe there is good lease cash as well. Any info to figure out a lease sheet would be appreciated... Freddy

CarMan@Edmunds

Hey Freddy. Mercedes-Benz Financial's July buy rate lease money factor and residual value for a 30 month lease of a 2011 GLK350 4Matic with 12,000 miles per year are .00064 and 60%, respectively for consumers who qualify for its top credit tier.

Car_man
Host
Prices Paid: Buying & Leasing Experiences Forum

aae2808

Hi! I just stopped by my local MB dealer and he saw I was currently in a BMW. He told me that they were offering $1k off for conquests. How should I factor that $1k in to my price negotiations?

Thanks!
Amie

storm10

I would not go back to the same dealer, because they lied. Anytime I sense that dealer is lying, I stop dealing with them and work with other MB dealers. You actually get $2,000 NOT $1,000.

1st you should negotiate the selling price of the car, and THEN reveal your $2,000 certificate. This way you can get the best possible deal, without pre-conditioning.

xelar

Understand MB is coming out with a new lease program for the 2012 model tomorrow. As the current program ends today, I'm a bit in limbo as to make a deal today or wait to see what incentives are offered tomorrow.

Can I assume that any lease program for the new 2012 model will not match the current offering for the 2011 model?

Thanks for any (quick) advice!

hpwsd

Hi Car_man,

Do you have the Mercedes lease details for August 2011 on the following vehicle?

2012 Mercedes GLK 350 RWD
36 mo / 12K miles per year

I'm starting my research on this vehicle with metallic paint, P1, and MM packages. At this point in the year, is it more cost-beneficial to lease a 2011 or 2012 model?

Thanks,
Henry

CarMan@Edmunds

Your assumption is correct, xelar. While one can lease a 2012 GLK through Mercedes-Benz Financial using its standard program, Mercedes is not yet providing any support on the '12 GLK.

Car_man
Host
Prices Paid: Buying & Leasing Experiences Forum

CarMan@Edmunds

Here's the information that you're looking for Henry. Mercedes-Benz Financial's August buy rate lease money factor and residual value for a 36 month lease of a 2012 GLK 350 RWD with 12,000 miles per year are .00240 and 58%, respectively for consumers who qualify for its "Tier 1" credit tier.

The numbers for an otherwise identical lease of a 2011 model are .00097 and 51%.

Car_man
Host
Prices Paid: Buying & Leasing Experiences Forum

Timelockmind

Here's the deal:

2011 GLKW4
45,325... (brand new) Selling Price... 38,777 (6,548 discount)

Lease for 15k per year/36 months:

1771 down 527.78 per month (NOT including tax and license)

With the 2012s now at the dealerships is this a - Good deal? Bad deal? Okay deal?
All help greatly appreciated!!

Timelockmind

A post script:

Got the GLKW4 mentioned above for 30 months (with a no-penalty option for 6 more months) at $538 a month INCLUDING tax, license, and ALL scheduled service for the first 30 months. I put down 1771 which included the first month's payment.

Based on what I have read, I think this was a very good deal, indeed.

mem34

Hi Timelockmind,

That looks like a solid deal with an excellent selling price.

I'm possibly in the market for a GLK350/4M myself. Would you mind sharing the name of the dealership? Also, what options did you get?

Thanks!

Timelockmind

Good luck - I love my GLK (it came with 4matic, loaded with the p1 and multimedia packages plus heated seats. Remember it is a 2011 (which are getting more difficult to find, esp. black/black)... a 2012 would be several thousand dollars more.

Keyes European
Internet Sales
Van Nuys, CA

mem34

Thanks! I'm on the east coast but will try to replicate a similar deal. Congrats!

aae2808

Hi! I am a costco member and submitted a quote for pricing on the GLK. The dealer's negotiated rate is Invoice. I also get $2k Conquest cash:

MSRP is 43,045 2011 GLK
Invoice is 40,594
Conquest cash -2000.00
Selling price is 38,594

30 months 568
33 months 575
39 months 539
36 months 568
Acquisition cost and 1st pmt due at signing. I still have 2 payments left on my X3 of $475. Is this a good deal to take early and just have my husband drive the X3 for a month?

Timelockmind

You can do at least $2,000 (if not more) better.

The GLKW4 I purchased yesterday had a sticker of just over $45,000 (6,500 discount.)

My lease (15k per year/1,700 down - which included first month's payment), is $527. That INCLUDES tax. Also, I purchased a service plan (honored by any Mercedes dealer) for $11 per month which covers all scheduled maintenance for three years.

Of course, the 2011s are getting harder to find as the 2012s arrive... and there won't be these can of deals on the newest edition (even though its the same car).

hpwsd

Thanks Car Man!

I found my car and signed a lease with these numbers for a 2011 GLK W2:

MSRP - $47,584
Selling Price - $40,415
MF - .00117 (marked up by .002)
Residual - 60%
Term - 30 months
Down - $2,189
Total - $540/mo including tax in CA

The car has the P1, multimedia, heated seats, full leather, and appearance packages, metallic paint, and includes prepaid maintenance.

I think the deal was good enough and accepted markups on MF and acquisition fee ($418 + $300). The other thing I had to accept was paying for options I didn't really need. That was because the stock of 2011 models didn't have the exact configuration I wanted. However, the 2012 models with fewer options cost more if you do the calculations, so I felt that this was a good deal.

Alternatively, there are more 2011 MLs left and similarly good deals can be found on those.

Good luck shoppers!

CarMan@Edmunds

You're very welcome, hpwsd. Thanks for taking the time to share the details of your deal with everyone. Enjoy your new ride!

Car_man
Host
Prices Paid: Buying & Leasing Experiences Forum

beachbum59

I have negotiated a 2011 GLK with MSRP of $46,725 to $40,516, which is invoice minus $1500 and $2K for conquest cash. However, the dealer offered a lease of $477 plus tax, $1000 down and $30,400 for residual. That does not make sense to me, does it to you?
Thanks.

beachbum59

Hi everyone, does anyone know if:
The dealer wants to charge me $427 doc fee. Is that negotiable?
The dealer wants to charge me $795 for a lease acquisition fee from MBZ finance. Is that negotiable?
Edmunds lists $33015 as the base invoice yet the dealer tells me it is 33515, which is accurate?
thanks...

CarMan@Edmunds

$1,500 under invoice minus the conquest cash is an excellent selling price, beachbum59. Let's work up a payment using Mercedes' current lease program and the prices that you mentioned and see what we come up with. According to my calculations, if you were to lease a 2011 GLK350 4Matic that has an MSRP of $46,725 and a selling price of $40,516 through Mercedes-Benz Financial right now for 36 months with 12,000 miles per year, your zero down, pre-tax monthly payment would be around $479. That's pretty close to what you were quoted.

Car_man
Host
Prices Paid: Buying & Leasing Experiences Forum

CarMan@Edmunds

Hi again beachbum59. Doc fees vary from dealer to dealer. The dealership may say that this charge is non-negotiable, but you can always adjust the amount that you are willing to pay for the vehicle that you want by that amount if you so choose.

Mercedes-Benz Financial does indeed charge a $795 acquisition fee on every vehicle that it leases. This charge is not negotiable. You can either pay it at lease signing or roll it into your vehicle's capitalized cost to bake it into your payment.

The Edmunds invoice price should be accurate. It's possible that the dealer is adding some sort of charge that is passed into it by Mercedes, like an ad charge, to the base invoice price.

Car_man
Host
Prices Paid: Buying & Leasing Experiences Forum

Timelockmind

re: Beach Bum

If your deal is for 12,000k a year, you might press the dealer to do just a bit better. I was able to negotiate 15k per year WITH prepaid service and CA tax for $538.00... for 30 months with a 6 month no penalty option.

For 12K the lease would have been $475.80 (including prepaid service/tax).

Regardless, it's a terrific deal and we love our car!

beachbum59

Thanks for the confirmation, Car_Man. When I add the monthly payments (30X$477) plus residual ($13,833) and drive off ($477) it comes to $44,681 which is almost $4K over the cost of the vehicle (taxes not included). That seems too high as cost of money goes. Something does not add up, I think. What do you think?

kyfdx

Something to keep in mind regarding finance charges on a lease.. The average amount financed each month, is an average of the CAP cost and the residual...

So, if your CAP cost is $45K and your residual is $25K, your average amount financed is $35K, each month.... (and, that is exactly how the lease is figured.. the same amount of finance charges, each month).

In this example, with a money factor of .0015, your finance charges would be $105 each month..... multiply that by the term, and then add the acquistion fee, and hitting $4000 is pretty easy... (my numbers as an example, not your exact lease numbers)

But, really, you are renting the car, not buying it.. Unless you are planning on purchasing the car at lease end (in which case, I would recommend buying it from the start), then the number to focus on is your total lease cost divided by the term. (total of payments + upfront fees) That is your real cost per month...

regards,
kyfdx

beachbum59

One other item that I have discovered is the invoice amount that the dealers claim they pay for the vehicle base price does not match Edmunds and other sites. Edmunds base price for a 2011 GLK2W is $33015 and the dealer sent me his invoice and that is $33515. It does however match against all options. Other dealers base invoices have varried from $150 to 500 above Edmunds, Yahoo and others. Why the discrepancy?

storm10

The Invoice is based on MSRP, so it will vary based on equipment. If you need accurate Mercedes invoice, go to Mercedes-Benz Invoice Calculator. Enter MSRP and enter "0" in the gas guzzler tax, because GLK does not have it.

That's the only website that calculates the real invoice....

kyfdx

It's almost always due to regional advertising charges....

marzsh1

Hi Car_Man,

I am looking to lease a 2011 GLK4MATIC. What selling price should I negotiate with the dealer? edmonds true market value is around the invoice but I saw better selling prices here.

Thanks.

beachbum59

I just completed a comprehensive search of many dealers including prices and purchased one. You absolutely can purchase one at invoice minus $1500. To calculate invoice get the sticker's total MSRP and go to http://www.benzonly.com/invoice.aspx and enter zero for gas guzzler. In ADDITION look to see if you qualify for the MBZ conquest cash of $2000 (if you own a competitors car). I purchased my car at $3500 below invoice.

Good luck.

storm10

you got a very good deal... Congratulations.

marzsh1

Thanks for the info. Do you know what cars included in conquest cash program?

beachbum59

You can google Mercedes Benz Conquest Program and a bunch will come up. Here is the link to one; http://www.prweb.com/releases/2011/8/prweb8745031.htm . BTW, the program ends at the end of August unless they extend it. Good luck.

billmv

beachbum59......What part of the country are you in? I'm in the San Francisco Bay Area, but would like to know the name of the dealership where you finally made your purchase. Thanks!

beachbum59

I live on So Cal but I purchased it from Phoenix MBZ only because the options that I was looking for and the color combination was hard to find. All my local dealers would have given me the same deal if I would buy a car that they had on the lot. So the key is to look at each dealer's specific inventory till you find the one you want and then give them your offer.

billmv

Beachbum559.....Thanks! Is there a way to check each dealer's inventory without making a call to each dealer? Could soak up a lot of time! I presume some dealers post their inventory online, but others do not. Any clever ways to do this would be greatly appreciated.

billmv

Has anybody bought a GLK without the COMAND system? My wife has a 2009 C 300 and we both hate the knob driven menu tree on the COMAND system. Haven't been to a dealer yet to see if that's possible.

Can you imagine a knob controlled menu like the German cars have on the the iPhone and iPad? If MB (and BMW and Audi) were designing those products Apple would be bankrupt by now. They should follow Jobs' lead and go touch screen.

mdxlessee

Car_Man

You do an enormous service on this forum creating informed consumers.

We will be very grateful if you can please quickly post the Mercedez Financial residuals and money factors for September for 10K/12K/15K miles for the 2011/2012 GLK350s. We live in Oklahoma City and, without local competition, there is no transparency about the quality of the deal without this kind of information coming from you. Thanks very much in advance.

CarMan@Edmunds

Thanks mdxlessee. Here's the information that you're looking for. Mercedes-Benz Finance's September buy rate lease money factor and residual value for a 36 month lease of a 2011 GLK350 4Matic with 15,000 miles per year are .00225 and 49%, respectively for consumers who qualify for its top credit tier.

The numbers for an otherwise identical lease of a 2012 model are .00177 and 58%.

If you were to lease with only 12,000 miles per year, this car's residual values would be 2% higher. Its 10,000 mile per year residuals would be 3% higher.

Car_man
Host
Prices Paid: Buying & Leasing Experiences Forum

mojo18

Hi, Can anyone give input on the following lease offer. Appreciate your help.

Sticker Price for '12 GLK I'm interested in is $43,995. This includes: Premium pkg, AWD, Nav + 4, heated seats, and destination charge). Mercedes is offering $1,640 discount, and dealer is offering $378. This is net price of $41,977. The residual with 15k miles is 58%. Money factor is .00177 (I have really great credit score). Fees up front are about $1,800 and include 1 month payment $627, acquisition fee $795, document fee $250, plate $75, title $33.50.

I'd like to make the following offer: $40,996 (invoice price). This results in $600 per month payment (all in). I'd pay $1,500 in up front fees, however they want to allocate them.

I'd appreciate any input on this. I was told there are no 2011's left with the options I want and that I missed all the great deals on the 2011's. Thanks!

mdxlessee

Thanks very much Car_Man. As I said, you offer a tremendous service.

benz2779

What state are you in? You should be able to get the selling price down to $39,862.00 and if you qualify for conquest thats another $1,000 off. Also remember to set yourself up for auto pay with the dealer, it reduces the money factor by .00010. So with auto pay your payment $552.38 and about $1,400 out of pocket plus plates. With the $1,000 extra for conquest it brings you to $520.44 per month for 36 months. Let me know if this helps...

max_anderson

Can someone tell me what the current money factor and residuals are for either a 2011 or 2012 MB GLK 350 4matic for a 36-month/12K per year lease?

Thanks in advance.

wrxdonkey

mojo18, I'd love to hear what you think I should be paying, lol.

Please let me know the actual vehicle price and the price per month. I'm a top credit tier, and I qualify for the Conquest Program (although I do not believe it is running during September).

I'm buying this week or next and have 2 options.

Option A) Pick up a car in FL and drive it back home (because it has every single detail we want). Sticker price is $39,500. No idea what they'd want to charge us.

Option Get the car locally (New Orleans). Sticker is $37,500 at $520/mo for 36 mos.