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2013 and earlier-Mercedes Benz GL-Class Lease Questions

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Comments

  • sshassshas Member Posts: 1
    Love the advice and wondering if you/anyone can assist?
    Looking to move into a 2010 GL450 with a P2 package, running boards & Parktronic.

    The numbers are:
    MSRP: 71,225
    Invoice: 67,702
    Lease based on 66,272

    MB is absorbing 6 least payments on my E350 of 595 or 3600.
    I pay taxes upfront and additional money down of 8300.
    Monthly payment of 799.
    Lease Term is 36 months - 12K a year.

    Wondering if this makes sense to you. I like the numbers based on my previous review at two other dealers in the tristate area.

    Your thoughts?

    S
  • wlrdlrwlrdlr Member Posts: 15
    Your are getting about a 7% discount off the MSRP. I just bought a GL350 from South Bay for 11.25% below MSRP and buy rates.
    The dealers have about 12.25%-12.5% in a Mercedes, before any lease cash, so the amount below invoice doesn't matter, it the discount in percentage from the MSRP that matters.
    Assuming you are getting buy rates, you should be able to get the car for $8K total driveoff and $750 or a little more including tax with 36/12K.
  • oyvey247oyvey247 Member Posts: 18
    Hi! I am interested in a 2010 GL450 lease for 39 months/12k miles a year. list on the car is 67,855. It has the P1 package, ent system,running boards. The price we got to lease is $829/mo with total $6800 out the door down (includes tax,title,etc and $ down). How do I know if this is a good price? i have shopped around the area and it seems comparable, but based on things I have seen online, I am not sure. I just want to make sure I am not getting taken advantage of -

    Any thoughts would be greatly apprecaited. ps: how reliable are these cars?? :confuse:
  • wlrdlrwlrdlr Member Posts: 15
    The deal you are getting is not great, but also not a total drek (I figured if your username is oyvey you would understand what drek means :)
    Compare it to the national ad on MBUSA.com with $6500 driveoff and $719+tax for a car that is $2000 cheaper and for 10K miles per year. The GL450 has a good residual, and even with $2000 difference in sticker, you should end up paying no more than $30 or so more per month with the same down for 36 or 39 months.
    November rates for the GL450 is slightly better than October (residual is the same and MF for 36+ months is .00124)
    If you want a good deal, got to a large dealership like South Bay in SoCal (ask for Sung) that has a large inventory and doesn't need to milk every deal (Don't waste time on FJ )
    Bottom line: Aim for $6500 driveoff with $700+ tax for this car and see what happens - I think its easily doable. Good luck.
    The GL is pretty reliable. All MBZ cars, like all luxury cars, have their issues, and unless you got a lemon, you should not expect too many problems.
    Look at the big picture: Its a great car, fun, roomy, comfortable. It doesn't get any better.
  • oyvey247oyvey247 Member Posts: 18
    thank you wlrdlr - and yes, I do know what drek means! I am MOTT -

    I will hold out for around $739 (including 6.25% tax) and see where it gets me. We used to live in the south bay, but now live in Boston, a little too far, don't you think :) Dealer here seems motivated, so I will keep you posted
    thanks for the feedback!

    enjoy the sun!! ;)
  • oyvey247oyvey247 Member Posts: 18
    So this is the lastest deal:

    2010 GL450
    Artic white/ blk interior

    P1 package, running boards, dvd install in headrests,

    Deal is $6800 out the door, 36month/12 year

    $749/mo lease.

    This is around 700 plus tax like another person mentioned. I am in no rush for the car and am wondering if I might be able to get a lower payment towards year end -

    any thoughts??

    thanks!! :confuse:
  • bjordan1bjordan1 Member Posts: 14
    Looking to lease a new GL450. Premium 1 package, appearance package, and towing accessories. MSRP = 67725. 36 or 39 mo's, 12k/yr.

    What would be a good monthly number - is it possible to get better terms than what's being offered through their sales event?
  • bjordan1bjordan1 Member Posts: 14
    Is this good, bad or avg:

    MSRP 70225
    6200 drive off (includes first payment)
    840/mo including tax (7% tax)

    3 yrs 36k
  • wlrdlrwlrdlr Member Posts: 15
    I'd say its between average and good.

    I do think the most you'd still be able to squeeze out of the dealer another $50-$60 per month (excl. tax) but even if you don't get that much you're still in good shape
  • meadows6meadows6 Member Posts: 3
    We drove 2 hours to a dealership on Sunday and when we got there he said he thought the car was on the lot but it's actually in transit (on a truck) and should get here Tuesday or Wednesday. Well, still no word on arrival. We have already signed the paperwork and were given a loaner car, but I'm starting to get impatient. We are paying for the GL and we want it. Has anyone else experienced anything like this with a dealership?
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi oyvey247. Good job at negotiating. $749 per month is certainly a lot better than $829 or whatever you were originally quoted. The one thing that bothers me about this deal is the huge chunk of money that is due at lease signing. In the unfortunate event that your truck was totaled in an accident or stolen and never recovered, there is a very good chance that part or all of the nearly $7,000 that you paid at signing will vanish. Needless to say that would be annoying. I always advise consumers to put as little money down as possible when leasing. Even though it would mean that your monthly payment would increase, that would be the safer thing for you to do.

    As far as how good a deal this offer is, as I mentioned earlier it is obviously a lot better than what the dealer was initially offering you. I would be happy to give you a more detailed evaluation of your deal if you provide me with this truck's MSRP and 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 for me to telll how large a dealer discount you are being given, and in turn if there is any meat left on the bone so to speak so close to Thanksgiving :).

    Car_man
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  • oyvey247oyvey247 Member Posts: 18
    Hi Car man - Thanks for the response - The MSRP (including $875 for destination and delivery) is $66,595 but that price does include the aftermarket DVD entertainment system the dealer is putting in for me (and residualizing as well)(I need the DVD screens put into the back of the headrests so that my little girl can see the screens from the 3rd row - where she sits b/c she drives her brothers crazy!!). The actual DVD price was not listed on their quote, but they said they would do it included in the $749/mth.

    As for the $6800 down, if something happened to the truck, wouldn't my insurance cover that? We want a low lease number per month b/c we already just bought a MB350 with no $ down and that payment is $900/month!

    Also, do you know anything about the 2007,2008 GL's catching fire? I read a few things online and am not too keen on the Truck burning my house down - dealer knows nothing about it - Have they fixed this problem for the 2010??

    My current lease (MDX) is good til Oct 2010 but I can turn it in anytime - I am in no rush, just need a good deal. Was originally going to buy the Sequoia but their lease is $850 month! yikes!

    Thanks for all your help! Happy Turkey Day!! ;)
  • shoefly2shoefly2 Member Posts: 1
    CarMan - I am looking at leasing a 2010 MB GL 450 - 12K miles - $5K down - P1 package

    What Money Factor should I look for ? Is .00124 the magic number?
    What Residual should I expect ? 55% ?
    What type of discount should I look for from MSRP? I heard that the dealers have roughly 12% to play with ?

    Have you heard positives or negatives on the web guys like Vehix or Fleetrate?

    Thanks for your help !
  • bluetec1bluetec1 Member Posts: 1
    Hi!
    There seems to be a low supply of the new 2010 MB GL 350 Bluetec's around my area. They are hard to find!

    We are looking to lease one for 36 months. After calling four dealers, we finally found one. Here's what they are offering:

    MSRP $71,465
    (includes lots of extras I don't need.... P02, Lighting Package; 3 zone climate control; Infrared glass; Running Boards; Pre-wiring for Rear Seat Ent; Walnut wood trim

    $2800 down (includes 1st month)
    36 months, 12K/yr
    $1240 per month plus tax

    Any thoughts? Would love your input.
    Seems a bit high to me....
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi shoefly2. .00124 is indeed MB Financial's current buy rate for this truck. 55% is its 36-month, 12,000 mile per year residual value. Make sure that the dealer that you're working with uses these numbers to calculate your truck's payment.

    I'm not personally intimately familiar with what the market is like for the GL right now, but if I was in the market for one I would look up its dealer invoice price here at Edmunds.com (New Vehicle Pricing) and shoot for $1,000 over or better.

    I'm not familiar with Vehix or Fleetrate. Are they brokers? I'm not a big fam of brokers. I find that intelligent consumers are usually able to do just as well as or even beat brokers' deals by doing things on their own.

    Car_man
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  • oyvey247oyvey247 Member Posts: 18
    Ok - We did it - bought the 2010 GL 450 and taking delivery monday! Phew!

    P1 package, running boards, prewiring for DVD (we are having after market DVD put into headrests on MB dime and they are residualizing it!), irridium silver, blk interior

    6500k down out the door (incld tax, etc), 36 month/12k miles, $739/mo
    (incld 3 years service - they will pick up my car (1 hr from dealer) and bring me a loaner!)

    We think we did pretty good -

    Any thoughts out there??

    I just need a new car at this point - the MDX I am driving dies weekly!!

    Thanks!
  • dollar_pounddollar_pound Member Posts: 46
    oyvey congrats! do you mind posting the MSRP, cap cost reduction, and negotiated price. I am looking to lease one as well.
  • oyvey247oyvey247 Member Posts: 18
    Hi Dollar!

    The msrp was $67,315, cash cap reduction was $4,206.51 and selling price was $62,100. We put $6500 down but probably could have gotten that a little lower. Ended up at $739/month (incld tax), 36 month lease at 12k miles. I think we got a pretty good deal.

    Originally they started their price at $829/month without the extras I wanted (paint color, running boards). As it turns out, the car they got for me had the parktronic (which i didn't really want) and NOT the running boards (which i need for the kids). So they ended up eating the cost of running boards and I got the parktronic too!

    Not sure where you live, but we bought this and (my hubby's Mercedes R350 last year) at Chambers Motorcars in Somerville, MA - They have the best deals as I priced out ALL the dealers near here (and in NH too!). They bent over backwards to get our business - even said they will drive out here (1 hr from their showroom),take my car and bring me a loaner if my car ever needs service. Not bad!

    All in all, very happy, car drives like a dream and hauls "you know what" on the road! Hope I answered all your questions! Good luck!! :)
  • dollar_pounddollar_pound Member Posts: 46
    Thanks Oyvey, I am NJ. one request for clarification, how much above below invoice did you get the car for? I plan no cap cost reduction payment.
  • oyvey247oyvey247 Member Posts: 18
    We don't have the invoice on the car but the price we paid on the car (w/o the added options) was $59500 - Plus we paid the 3K for dealer installed DVD (doesn't cost nearly that much but dealer just threw in that number). We were more concerned about our monthly payment - Our sticker was $ 67,500 but they had to add running boards on their dime (see above). So we figure around 5k under sticker. Not sure if that helps. To get invoice you can look on Edmunds for prices. Invoices are tricky on leases - I suggest shopping your area to see who can give you the best deal - We started at 829/mth and got to 739/month with extras thrown in - Good luck!

    ps: Car is a dream to own - we are loving it!!!
  • jb_turnerjb_turner Member 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 Member Posts: 12
    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.
  • sabrothesabrothe Member Posts: 7
    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!
  • shanmaseshanmase Member Posts: 1
    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?
  • wonpalwonpal Member Posts: 3
    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?
  • nominivan4menominivan4me Member Posts: 7
    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. :)
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    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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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    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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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    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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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    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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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    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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  • neenneen Member Posts: 12
    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 Member Posts: 38,514
    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 Member Posts: 21
    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 Member Posts: 38,514
    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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  • bigcat007bigcat007 Member Posts: 21
    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 Member 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 Member Posts: 17
    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 Member 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 Member Posts: 17
    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?
  • isha1isha1 Member Posts: 17
    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 Member Posts: 155
    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 Member Posts: 38,514
    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 Member Posts: 21
    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 Member Posts: 12
    Does MB offer 39 mos on GL450? If so, what are the lease factors / residuals?

    Thanks
  • jpdcjpdc Member 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 Member 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 Member 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 Member 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 Member Posts: 38,514
    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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