2013 and earlier-Mercedes Benz GLK-Class Lease Questions

nj_bk

This is what a couple of dealers in NJ are offering me. GLK350 4Matic, premium1, multimedia,heated seats, keyless go, metallic color: MSRP 48355.

They are offering me $1000 out of pocket up front including first month, and 496 plus tax monthly for 36 months, 12k miles per year.

Sounds good to me, and I believe at 59% residual and 0.00112 mf, this equates to a selling price of around 44000 which is 1100 below invoice?

I am thinking of asking the delaer to foot my 350 disposition on my current bmw lease.

Any thoughts?

Thanks
BK

nj_bk

Manusingh
what did you end up doing? I am in the market for glk 4matic this month in NJ and just curious what you did. Appreciate your help. Balu

ms_lewis

Thank you so much for your response!

For the "deal" they offered me having the monthly payment of 372.17 per month the selling price would be $34,099.00 which is down $3,896.00 from the $37,090 invoice. Seems like a feasible discount? And the selling price does not include the conquest cash.

The dealerships current lease special goes as follows RWD, Premium 1 package, 399.00 per month for 30/months, 10,000 m per month with... "Cash due at signing includes $3,399 capitalized cost reduction, $795 acquisition fee and first month's lease payment of $399."

I will also look into contacting my insurance company about the tire and rim coverage. I know the wear and tear may add up if excessive, this is my third lease and have never had to worry about wear and tear scratched rims because I have always had the tire coverage (in case my rims get scratched or a nail gets in my tire) it would all be for free.

Once again,

Thanks Car_Man !

leeshuck

I'm not Car_man .

If you are paying the $3,399 capitalized cost reduction out of you pocket then I believe you would need to subtract that from the $3,896 below invoice price to get you net price below invoice before any incentives are applied. Again, I believe the capitalized cost reduction out of pocket would not come back to you if the vehicle was declared a total loss at some point.

Hope this helps,

Lee

ms_lewis

So sorry Lee,

Thank you for your input!! Highly appreciated

rsandler

Need an opinion on this deal

54500 msrp
49700 sales price
65% residual
.00112 MF
30 months/10,000 miles

3200 in taxes and fees paid up front

Please advise forum
thank you

Lease price- $629

dloftus10

I went to two different Mercedes dealerships this weekend and the best deal I was offered so far is as follows:

2013 GLK 350 RWD -
With premium 1 package
AMG Styling package
Navigation - but not the multi media package
Keyless Go

Total price: $44,285
36 month lease - 10,000 miles
$0 down
$498 - total monthly payment

Can anyone please give me some good insight on this deal? Is it a good offer or should I try to negotiate a lower payment? Any help is greatly appreciated. Thank you

nj_bk

It depends on your location as well. I am in NJ and currently have a BMW 528. Am getting GLK for my wife.

2013 GLK 4Matic
Premium
Multi media
Heated seats
Keyless Go
Metallic paint

Total MSRP 48300 (off by a few dollars probably)

Am getting it for 1000 up front (including 1st month payment) and $530 a month (including 7% tax) for 36 months. 12k miles per year.

Hope this helps.

CarMan@Edmunds

You're welcome leeshuck. That will make a nice holiday present .

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CarMan@Edmunds

Greetings Jake. Mercedes-Benz Financial's November buy rate lease money factor and residual value for a 36-month lease of a 2013 GLK 350 4Matic with 15,000 miles per year are .00112 and 57% for consumers who qualify for its Tier 1 credit tier.

The numbers for an otherwise identical lease of a 2012 model are .00114 and 51%.

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CarMan@Edmunds

Hmmmm, wish I would have seen this earlier :P . Here you go.

The numbers for a 24-month, 15k lease of a 2012 GLK350 4Matic are .00112 and 67% for Tier 1 customers.

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CarMan@Edmunds

Hi radoncgs. Mercedes-Benz financial's November buy rate lease money factor and residual value for a 30-month lease of a 2013 GLK 350 4Matic with 10,000 miles per year are .00112 and 65% for consumers who qualify for its Tier 1 credit tier.

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dloftus10

Thank you nj bk. carman do you have an opinion on the data I posted prior to this one? It seems like you know a lot about the Mercedes benz offers. Thank you

nn_miami

Hi Fellows,

I have recently re-located to Miami from overseas. As a result, I currently have no credit scrore whatsoever.

I am interested in leasing a 2013 GLK 350 4Matic (with navigation) for my wife's use. MB USA has a special leasing program, where in they lease vehicles to International Executives, who necessarily do not have the best credit score in the country (due to new relocation / move to USA).

Based on all information from the local dealerships in Miami, I have been quoted approx. $650+ per month (based on monthly payments + apportioning the down payment of $3K).

This is obviously super high, considering what I have read on this forum.

Can someone guide me into the basics of leasing or suggest me a dealership around Miami, so that I can save myself from being screwed royally by the dealerships here.

Thanks in anticipation.

Regards,

leeshuck

Edmunds has some general info on leasing here:

http://www.edmunds.com/car-leasing/

In order to get advice from the hosts here, you'll need to get all of the lease parameters from the dealer, including the actual selling price, MSRP, money factor, residual, fees, number of months and miles, any incentives, etc.

Hope this helps and Happy Thanksgiving!

Lee

9times

Car_Man,

I hope this is not a repeat question (I've searched your answers so far this month, so I'm pretty sure this is a new one). I'm looking for MB's lease buy rates and and residuals for a GLK350 4Matic lease for 10,000 miles per year for both 24 months and for 30 months.

Best Regards,
-Chris

CarMan@Edmunds

Thanks for checking, Chris. Here's the latest info for you. Mercedes-Benz Financial's November buy rate lease money factor and residual value for a 24-month lease of a 2013 GLK350 4Matic with 10,000 miles per year are .00112 and 70% for consumers who qualify for its top credit tier.

The numbers for an otherwise identical 30-month lease are .00112 and 65%.

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leeshuck

Hi Car_man,

Could you provide December buy rate lease money factor and residual values for a 36-month lease of a 2013 GLK 350 4Matic with 10,000 and 12,000 miles per year? Do you have info on any incentives like conquest cash?

Happy Holidays,

Lee

ken_florida

This site was amazing for helping us to get what I think was a great deal. Going in with knowledge of the money factor and residual really helped us out. Thank you!

We got the following in Asheville NC:

2013 GLK 4Matic
Premium 1 pkg. w/ panoramic sunroof
Heated Seats
Hitch for bike rack
prewired for Nav unit
MSRP $45,665 negotiated a cost of $41,230
Metallic Steel Grey
36 Month Lease at $498.54 including tax, 10,000 miles per year w/ the option to potentially return 6 months early without penalty if we roll into another Mercedes
The only monies put down was just $366 for doc and license fees

surfin3591

What are the sources for the lease MF rates being listed on here? I have checked a few sites that are saying .00112 for December, but both my local dealer quoted me and the lease special on MBUSA.com (when you work the numbers backward) a rate of .00131.

Are MBUSA and the dealer using a rate with some pack in it? Or is .00112 some rate for 800+ credit score customers that they are not providing up front?

I just want to make sure that when I walk into the dealership to negotiate, I am not showing them how I derived my numbers using some rate that doesn't exist and look like an idiot.

lcginc

The MF of .00112 is the dealer's buy rate for the money which is their actual cost basis. Often dealerships will mark up the rate to increase their profitability of the deal. In your case the difference in money factors is 2.688% versus 3.144% when extrapolated to interest rates. So, this should be a negotiable figure provided, of course, that you qualify for MB Finance's top tier credit. I got my 2012 E350 4 Matic at my dealer's buy rate. Good luck.

surfin3591

Thank you! I figured that would be the case, but didn't want to walk in with unrealistic expectations.

Do they also bump the residual value down by 1% in their favor? I am looking at a 36 month 12,000 mi/yr lease, and they are giving me a residual of 58%.

The same sources that I found the MF rates are saying on a 36 month the residuals are 57% for 15K mi, 59% for 12K mi, and 60% for 10K mi. So I am assuming they are playing with the residual value to get an extra $12-15/month out of me?

leeshuck

Car_man or kydfx,

The GLK350 I have on order is expected to arrive at the docks on 12/29 but won't be available for pick up at the dealer until some time in early January. I'm in California and signed a prospective purchase agreement with refundable deposit clause. My BMW lease is up on 12/30 and the Mercedes-Benz dealer said I could rent a car through Enterprise at a discounted rate while I'm waiting for the GLK.

Mercedes-Benz doesn't seem to be able to lock in any current lease programs/incentives like BMW does, so I don't know what the final lease numbers will be. The dealer said the selling price would be $1,000 below invoice.

Would you expect the GLK350 January lease programs to be much different than December?

Thanks,

Lee

CarMan@Edmunds

Happy Holidays to you as well Lee. Mercedes-Benz Financial's December buy rate lease money factor and residual value for a 36-month lease of a 2013 GLK 350 4Matic with 12,000 miles per year are .00112 and 59% for consumers who qualify for its top credit tier.

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

There is $2,000 Winter Event certificates out there on this truck right now.

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CarMan@Edmunds

Hey Lee. While it's difficult to say for certain, I suspect that the Winter Event certificates that are available in December will not be available in January. The lease program for this truck will likely be similar month-over-month. I suppose that it doesn't matter whether the certificates are out there or not as long as the dealer still honors the $1,000 under invoice price and doesn't mark up your money factor.

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surfin3591

Can the Winter Event certificates be combined with their Fleet Employee Program? I am pretty sure everything carried over for January, and I have positioned myself to walk in with a deal they have accepted and put my FEP Document down on the table to lower the payment even more.

deacondoesdc

Hi all - I had an unfortunate accident and have a total loss situation for my 2011 c300. I'm trying to get into a new lease with a 2013 glk

I really care about the Premium 1 package and the Multimedia as I like the backup camera, 4wd, and heated seats. Beyond that, I could care less about the options. I want a tan interior, which is harder to find (or so they tell me)

I'm in Arlington, VA, and have been offered the following:
$475/mo
$4500 down inclusive of tax, tags and first month's payment
30 - 36 mo lease
10,000 mi / year

I have USAA and they have a $2k incentive going on now too, if that helps.

Am I getting a good deal or can I negotiate better? What is the lowest I can push them to go? One of the cars being offered has exactly the options above but with an upgraded exterior color, the other has additional options that bring it about to a 50k msrp value. Thanks!

psmd

Car-Man- Can you please post the money factor and residual value rates on a 2013 GLK
10K miles 36 and 48 months?
Thanks

CarMan@Edmunds

Here you go psmd. Mercedes-Benz Financial's January buy rate lease money factor and residual value for a 36-month lease of a 2013 GLK 350 4Matic with 10,000 miles per year are .00112 and 60% for consumers who qualify for its top credit tier.

The numbers for an otherwise identical 48-month lease are .00112 and 47%.

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14dmuny

Hi Car_man,

Do you have MBFS's Feb 2013 residual and money factor for 7500 miles/yr, 27 months on a 2WD GLK350 (SoCal)? Or anything comparable since the terms are bit strange...?

Thanks!

CarMan@Edmunds

Hi 14dmuny. Mercedes-Benz Financial's February buy rate lease money factor and residual value for a 24-month lease of a 2013 GLK350 4Matic with 7,500 miles per year are .00112 and 61%, for consumers who qualify for its top credit tier.

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carnal1

Thank you so much. That was the best explanation I've heard yet about leasing. I just finished asking the questions you answered here,on the Lexus RX350 forum. I was curious to see if I could find out what a mercedes glk lease would cost, since the dealership I called wouldn't even give me a ball-park figure, when i happened on your informative post. One question: why do you think leasing is a terrible deal? Thanks for your gems of wisdom.

ken117

"The residual and money factor makes no difference, though math experts will tell you differently."

This statement is completely false and exemplifies the common lack of understanding of automobile leases.

Other than the capitalized cost (selling price plus extras such as registration, tax, etc.), the residual value of the leased vehicle and the money factor are the most important aspects of a lease. A high residual value and low money factor result in a lower monthly payment. The residual value is set by the manufacturer. The money factor is simply the interest rate divided by 2,400. So a money factor of .0009 is an interest rate of 2.16 percent.

Also, leasing is not a "terrible deal!" When leasing you simply pay less for the vehicle over the lease term than you would if you bought the vehicle. Of course you will have less equity in the vehicle, but that is simply because you paid less. IMHO, leasing is best for people who are comfortable with a level car payment with no surprise repair bills and who enjoy a new vehicle every couple of years.

It is always best to lease a vehicle from a manufacturer who is providing lease support, usually in the form of a low money factor. It is also best to lease a vehicle which has a high residual value like a Lexus or Acura.

Edmunds has a great lease calculator. Any reputable dealer should be willing to provide the money factor and residual values. Additionally, such information is often available on Edmunds forums.

This information and the Edmunds calculator will provide a solid estimate of what a lease payment on any vehicle should be. Smart people have this information before they visit the dealer. Knowing what the lease payment should be will help assure a good deal and avoid dealer mischief.

There is usually no requirement for a down payment for a lease. In fact, most experts seem to agree, it is rarely wise to put any money down on a lease. All that is usually required is the first month's lease payment.

If a dealer won't discuss cost or payments over the phone, it is probably a good idea to look elsewhere. If the dealer is not forthcoming over the phone it is likely they will not be forthcoming if you visit. Why bother with them when there are so many other dealers waiting for you to contact them. Always good to remember the dealer needs you, you don't need them.

residual_risk

Hi Car_Man & kyfdx,

I'm looking to lease a GLK 350 4Matic for 36-months with about 19K miles . Could you please tell me the Residual Percentage and the Money Factor I should be looking for?

Currently the dealer is quoting me $42,978 (including the Premium 1 package). MSRP was $45,700. I should be able to get a $2k Fleet Discount on top of that as well. What do you think of this deal?

Thank you!

CarMan@Edmunds

Hi residual_risk. Mercedes-Benz Financial's March buy rate lease money factor and residual value for a 36-month lease of a 2013 GLK350 4Matic with 15,000 miles per year are .00112 and 57% for consumers who qualify for its top credit tiers.

As far as the selling price goes, the vehicle that you're interested in probably has a spread of around $3,000 between its full MSRP and dealer invoice price. There's some $1,000 dealer cash certificates out there that you should be able to convince the dealer to use on your deal as well. If I was in the market for a '13 GLK right now, I would shoot for a $3,000 to $3,500 or so discount. That's not far from where you're at right now.

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beast3012

Hi Car_man,

I am interested in leasing a 2013 GLK 350. I am open to the duration of the lease (30, 36, 48 months). Can you please let us know the Money Factor and Residual % for April with 7,500 miles per year with the above? If you can't do 7,500, then please let me know 10,000 miles.

Thank you!

CarMan@Edmunds

Hi beast3012. Mercedes-Benz Financial's current buy rate special lease money factor for a 2013 GLK 350 4Matic is .00112 for all terms up to 48 months. Its 7,500 mile per year residual values are 71% for 24-months, 66% for 30-months, 61% for 46-months and interestingly 48% for 48-months.

The residual values for leases with 10,000 miles per year would be 1% lower.

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coyote_bob

Getting ready to lease a GLK250. Any info on money factor and residual value for a 36 month, 10,000 mile per year lease?

CarMan@Edmunds

Hello coyote_bob. Mercedes-Benz Financial's May residual value for a 36-month lease of a 2013 GLK250 is 62%. Mercedes isn't providing any lease support on this new model yet, so its money factor would be MB Finance's standard.

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coyote_bob

Thank you Car_man. Had to purchase the car instead of lease. Finance rates are really low for top tier credit. Money factor was .00300 - too high. Purchasing was a no-brainer. Car is a dream. Actually gets 38 mpg's for freeway driving. Handles well and is very quiet. Thanks again.

colt311

Hi Car Man,
Could you please tell me what the RV% and money factor would be to lease a GLK320 for 36 months @10,000. If there isn't a MF published what is the MB standard MF rate for Tier 1 credit.
Thank you!!

beast3012

Agree with coyote. Thank you car man for all the information!
Was about to do a lease, but Decided to buy as well - over 5k off msrp and under 2% interest rate, no MB financial lease fee.

flacrabb

Hi Car Man - Will you please provide the residual and MF for a 24 month, 12K mile/yr. GLK350 lease?

CarMan@Edmunds

You're welcome coyote_bob. Yeah, Mercedes was offering some very attractive retail finance rates on the GLK (they're gone now). 38 MPG is outstanding for a vehicle that's this useful. Enjoy!

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CarMan@Edmunds

Hi colt311. Mercedes-Benz Financial's current buy rate lease money factor and residual value for a 36-month lease of a 2013 GLK 350 4Matic with 10,000 miles per year are .00118 and 60% for consumers who qualify for its top credit tier.

Now that I think about it, you might have been talking about the Diesel model, which used to be the 320, but is now called the GLK250. The numbers for a Tier 1 lease of that model are .00205 and 62%.

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CarMan@Edmunds

You're welcome colt311. That's a good point about the fees. The $795 acquisition fee and $595 disposition fee add up to quite a bit.

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CarMan@Edmunds

Here's the information that you're looking for flacrabb. Mercedes-Benz Financial's June buy rate lease money factor and residual value for a 24-month lease of a 2013 GLK350 4Matic with 12,000 miles per year are .00118 and 69% for consumers who qualify for its top credit tier.

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glayfan40

Just finished a deal for a 24mo, 12K mi/yr lease. Details below:

Steel Grey - $720
Premium 1 - $3450
Heated seats - $750
Becker Pilot Map pre-wire - $200
Destination - $905
Total - $44615

Sale Price - $40,000
RV - $32,122.8 (72%)
Cal. MF - .0020
Mo. Payment = $514 (incl. 6.25% tax)
Total Out-of-Pocket: $1750 ($441 tag/doc, 1st payment, acquisition fee)

Hope this helps!

cjra78

Hi Car Man
I got a quote for the GLK 350 with one pay, please confirm if the price is OK
MSRP is $43.595 (P1 without pano) total one pay is $10,400(includes tax, fees, etc)
thank you in advance

valleyguy408

cjra, What time period and mileage limits?