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2013 and earlier-Mercedes Benz GLK-Class Lease Questions

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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hello ckung. Mercedes-Benz Financial's current buy rate lease money factor and residual value for a 36 month lease of a 2010 GLK 350 AWD with 15,000 miles per year are .00180 and 53%, respectively for consumers who qualify for its top credit tier.

    The numbers for an otherwise identical lease of a 2010 GLK 350 2WD are .00203 and 53%.

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  • tonyinnctonyinnc Member Posts: 20
    Carman,

    Can you give me the MF and residual for the July lease special for the GLK350 36mo 30K miles on a AWD? The 479/mo with $5K down sounds o.k. but I'd like your opinion if we can do better. It assumes a MSRP of $41,365 with a buy down from the dealer of $1072.
    Also, I am weighing this against the current RX350 lease special. The Lexus plan looks better since it is a lower payment on a higher MSRP vehicle with less up front money. I am assuming the MF must be lower. I'd like your opinon on this as well. Many thanks.
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    I'd be happy to, tonyinnc.

    Mercedes-Benz Financial's July buy rate lease money factor and residual value for a 36 month lease of a 2010 GLK350 AWD with 10,000 miles per year are .00180 and 56%, respectively.

    As far as this truck's selling price goes, while I don't know its exact dealer invoice price, there is probably a $2,800 or so spread between its full MSRP and its dealer invoice price. If I was in the market for one and I was in an area that has a decent level of competition, I personally would shoot for a selling price of $500 to $1,000 over invoice...which probably would amount to at least another $800 off of the price that you were quoted.

    The money factors on the GLK and RX are about the same, but Lexus Financial Services' residual values are a coupe of points higher than Mercedes-Benz Financials...making the RX's program a little more attractive right now.

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  • tonyinnctonyinnc Member Posts: 20
    Thanks Carman.

    After crunching numbers I wound up going a different way and would like to get your opinion of the deal. I found a pre-owned (not CPO) 2010 GLK350 with Premium Pkg, full Navi, heated seats, and metallic paint with 13K miles. MSRP was just over $45K and was able to pick it up from AAA for $37K + TTL. Car has been in service just a little over a year and has 37K miles of warranty left. I was also able to pick up financing at 2.89%. I am comfortable with that deal but wanted to know if you think I left some $ on the table. Thanks for your help and opinion.
  • jayriderjayrider Member Posts: 3,602
    If you are happy with your deal why worry about what you might have left on the table. Enjoy your mercedes -- nice truck.
  • ckoolckool Member Posts: 86
    edited August 2010
    Car_Man:

    Can you please provide the latest (Aug) MF and residual for GLK350 FWD for 36 months and 12,000miles/yr ?

    Thanks a lot
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    You're welcome, Tony. I'm not intimately familiar with the market value for used GLKs, but it sounds like you got an attractive deal to me. Where did you get that unbelievably low finance rate?

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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    I'd be happy to, ckung.

    Mercedes-Benz Financial's current buy rate lease money factor and residual value for a 36 month lease of a 2010 GLK350 FWD with 12,000 miles per year are .00260 and 53%, respectively for consumers who qualify for its top credit tier.

    When negotiating your deal on this vehicle, make sure to take advantage of the $1,500 dealer cash that is currently available on it.

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  • ckoolckool Member Posts: 86
    Car-Man:

    Thanks a lot. Do you think MBZ will have a better deal (both MF and % of residual) than current offer for GLK350 in Sept or at the year end?

    Thanks
  • kooperkooper Member Posts: 1
    Car Man:

    Am dealing with a tough manager at MB dealer and want to make sure he is not taking me. GLK350 (4 Matic) with options. MSRP $46,315; 36 months/12k miles; $4000 down; 7% sales tax in NJ; Dealer says residual value is 59% and money factor is .0027; He's playing around with the net(adusted) cap cost number and I keep negotiating down. He is at $624/month. Thoughts? Thanks in advance
  • geardoggeardog Member Posts: 4
    Car Man, by chance do you have the current MF and residual info for a 2011 GLK350 4matic 36-months at 10k miles/yr? Thx.
  • jxcrusadejxcrusade Member Posts: 1
    Hi Carman,
    I'm planning to lease a '11 GLK, I got a deal for basic 4matic model w/ sunroof, 7500 miles per yr w/ 4 yr contract. Do you think this is a good deal for $469/mth & $3891 due @ signing? It has residual of 51% & initial cap cost $37,000.
  • kdl0013kdl0013 Member Posts: 2
    I am looking for a lease rate for an Arctic White GLK with the Appearance Package ($970) only.

    The MSRP is approx. $36k. 36-month lease with 12k miles per year.

    Ther dealer is asking for $5,200 out-of-pocket ($2,999.00 cap cost) and $459.00 month.

    Any thoughts on this deal??? Seems like a lot out of pocket....

    Thank you very much in advance!
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi kooper. The residual value that you were quoted is right on the money, but the money factor is a little high. Mercedes-Benz Financial's September buy rate lease money factor for a 36 month lease of a 2010 GLK 350 4Matic is .00217 for consumers who qualify for its top credit tier.

    It's difficult for me to evaluate this deal completely without knowing this truck's selling price. Have the manager tell you this vehicle's exact selling price and let us know. I'm sure that either myself or another knowledgeable community member will gladly let you know what they think.

    I see that you are considering making a $4,000 down payment on your lease. I always advise consumers to put as little money down as possible when leasing. Lessees who make large payments at lease signing risk losing part or all of them if their vehicle is totaled in an accident or stolen and never recovered. Even though it means that your monthly payment will be a little higher, it's much safer to go with a zero down lease.

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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    edited September 2010
    I sue do. Here you go, geardog. Mercedes-Benz Financial's September buy rate lease money factor and residual value for a 36 mont lease of a 2011 GLK350 4Matic with 10,000 miles per year are .00217 and 60%, respectively for consumers who qualify for its top credit tier.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi jxcrusade. Wow, you only need 7,500 miles per year. You certainly don't do very much driving. You should make sure that you are really only going to drive that little because if you end up driving more, you could end up racking up a pretty significant excess mileage charge over the course of a four year lease.

    It's excellent that you know this vehicle's capitalized cost. It would be much easier for us to evaluate it for you if we knew what its MSRP was. That will show us how much of a dealer discount you are being given.

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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    I completely agree with you, kdl0013. $5,000 is way too much money to pay at lease signing. If your truck ends up getting stolen or totaled in an accident over the course of your lease, there's a good chance that you'll never see that money again. You're better off putting as little money down as possible when leasing. Lessees through Mercedes-Benz Financial can usually get away with only paying their vehicle's first month's payment, its $795 acquisition fee, and any required state taxes or fees at signing. Many of the fees can even be rolled into vehicles' capitalized cost to make them part of the monthly payment.

    As far as how good a deal this is goes, you never mentioned this truck's selling price. The selling prices of leased vehicles are negotiable, just as if you were paying cash for or financing them. It will be much easier to evaluate this deal with this number. Let us know what it is and either myself or another knowledgeable community member will let you know what you think.

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  • pmc44pmc44 Member Posts: 3
    edited September 2010
    I just signed the papers on this deal today...

    2011 GLK 350 4-matic
    Black
    Almond MB-Tex
    P1 package
    Sport Appearance package - 20" wheels
    Heated Seats

    MSRP $43,315
    SALE PRICE $39,150

    Lease terms through Mercedes Benz Financial:
    48 months
    10k miles a year
    $0 due at signing (1st payment, taxes and all fees rolled in)
    $575 monthly payments (47 actually), including tax of 8.16%

    The money factor was slightly inflated at .0022 and the residual was $21,657.50 (50%). All in all, I think I did pretty well.
  • blues22blues22 Member Posts: 4
    Hi pmc44,
    Can you please share your dealer info?
  • pmc44pmc44 Member Posts: 3
    Sure, I leased my GLK through Mercedes Benz of Westminster (I believe they deliver nationwide; see their website) in the Denver area. Best to try the toward the end of the month. I got lucky and they needed one more deal for the month.

    Great service and easy to work with. Just be persistent.
  • thoughtfulthoughtful Member Posts: 5
    Anyone have Mercedes-Benz Financial's November buy rate lease money factor and residual value for a 36 month lease of a 2011 GLK350 4Matic with 10,000 miles per year for consumers who qualify for its top credit tier? If so, is it a reasonable deal? Thanks.
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Here's the information that you're looking for, thoughtful.

    Mercedes-Benz Financial's November buy rate lease money factor and residual value for a 36 month lease of a 2011 GLK350 4Matic with 10,000 miles per year are .00217 and 60%

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  • merc1234merc1234 Member Posts: 5
    edited December 2010
    I got a GLK 350 4MATIC with p1 package, heated seats, parktronic, and IPod Connection for $545/month tax included for 39 months, $0 down, only the fees paid upfront. I don't remember the exact selling price, residual, etc. , but I think the msrp was around $42,000. I think it was a pretty good deal I got.
  • pjfriedrichpjfriedrich Member Posts: 2
    I received an offer for a 2011 GLK, P1, heated seats and multimedia package.

    45,395 msrp
    41,200 sales price
    $42,814 invoice
    42,704 cap cost (includes taxes, fees, etc)
    51% residual
    4 year lease at 7,500 miles (all i need)
    23,151.45 residual
    $550 per month lease payment
    $1,750 upfront cost

    Seems like a good deal, and i'm likely to take it monday, but would appreciate any feedback.
  • bullsmentor123bullsmentor123 Member Posts: 11
    Hello,
    I was offered $40.5k on my first inquiry (to the internet sales guy) for exactly the same combo ('11 4Matic, P1 + Multimedia + Heated Seats), which I was able to negotiate $500 further down. I do believe your worst offer should be below $41k, and your best one would be below $40k.
    Good luck!
  • vm3916vm3916 Member Posts: 2
    I signed my lease last night. My sales person said this was the last day of the winter events and I had to sign it before the day was over to get this deal. I think it's a fairly good deal.

    2011 GLK 4Matic with P1, Multimedia and Heated front seats and two dealer installed paint options.
    MSRP: 45735, invoice 42525, sales price 39650. 36 months with 12k miles /year. money factor .00217, residual value 59% of MSRP. I chose to pay all fees and tax upfront and 1st month payment, so total due at lease signing was $3490, to be followed by 35 months of $499.

    Two things I didn't like were $995 acquisition fee (is this a bit higher? My previous lease of BMW X3 charged $695) and this one i think is really unfair: I had to pay sales tax on the total sales tax. It's called cap deduction but really is just acquisition fee and total sales tax paid upfront. But i was told this is always how it was charged in NJ.
  • voldermortvoldermort Member Posts: 67
    Hey guys,
    It's that time of year again, and I saw this new vehicle. It looks awesome. I am looking at the following invoice options on this $34,875 crossover. :)
    Prem pkg _ $2,976
    MB mbrace - $ 614.00
    Heated Seats _ $698.00
    Keyless Etry - $ 1,060
    Full leather - $1,780
    Total Invoice = $41,377
    Leasing for 36 months for either 12,000 or 15,000 miles.
    I live in NY, what is the residual and money factor on this, and what does CAP mean? Should I look for that too? What is a good deal on this car, and what about free maintenance? I've seen some commercials that say maintenance included lately (while watching football games lol)...and I have learned through you both in the past that I don't put any money down. Is that still true?
    And, what about the $1,000 incentive?
    I appreciate all your guru information once again, throughout the years, you have helped us out.
    My best,
    :)
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi voldermort. Mercedes is not currently providing any lease support on the GLK. As a result, if you were to lease one through Mercedes-Benz Financial, you would have to use its standard lease money factors. The last time that I checked, MB Finance's buy rate standard lease money factor was .00240 for consumers who qualify for its tier 1 credit tier.

    The residual value for a 36-month, 15,000 mile per year lease of a 2011 GLK 350 4WD is 57%.

    CAP likely refers to this vehicle's capitalized cost...which essentially is the amount that you are financing. This is your vehicle's selling price plus any other charges that you want to roll into your lease.

    You definitely want to put as little money as possible down when leasing.

    I don't believe that Mercedes is currently providing any cash incentives on this truck.

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  • voldermortvoldermort Member Posts: 67
    Thank you Car_Man. I'll be speaking to them later this week. I'll let you know. :)
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    You're very welcome voldermort. Good luck.

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  • voldermortvoldermort Member Posts: 67
    Carman, here's the update. I decided not to go with the GLK....the money factor and is high like you say and it all adds up.

    Too bad for MB! :)
    Thank you.
  • bill124bill124 Member Posts: 246
    hi,

    Looking for rate and residual through MBUSA for 2011 E350 convertible. I can calculate payments but don't know what rate and residual are. Told me rate is 5.9%. Any other costs I should expect? Looking for 39 months, if they still do that, or 36 months.

    Thanks.

    Bill
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Thanks for letting us know what you decided to do, voldermort. I agree, the GLK's pretty expensive right now.

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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi Bill. This particular discussion is for community members to talk about leasing the GLK. This looks like a good question for the E-Class Lease Questions discussion. Please try posting it there. Thanks.

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  • karchkarch Member Posts: 45
    Can I get the mf and residual on a 36 month, 12K/year GLK350 with P1?
    I'm not used to the turn-in fee that MB charges at the end of a lease.

    Thank you.
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi karch. Mercedes-Benz Financial's February buy rate lease money factor and residual value for a 36 month lease of a 2011 GLK350 4Matic with 12,000 miles per year are .00240 and 59%, respectively for consumers who qualify for its Tier 1 credit tier.

    Yeah, the MB lease termination fee is a bitter pill to swallow. Nothing's worst than having to pay six hundred bucks to give a car back.

    Mercedes is scheduled to introduce its new March programs some time tomorrow. Please feel free to check back with me for an update if you're interested.

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  • karchkarch Member Posts: 45
    Thanks Car_Man. If you remember, sure, I'd appreciate the numbers, though it's looking less likey. Leaning more towards a Jeep GC (I think I asked for the mf and rv on that thread), due to the extra charges that MB thinks are warranted.

    Thank you again.
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    You're welcome karch. I remembered!

    Mercedes-Benz Financial's new March buy rate lease money factor and residual value for a 36 month lease of a 2011 GLK350 4Matic with 12,000 miles per year are .00193 and 58%, respectively for consumers who qualify for its Tier 1 credit tier.

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  • karchkarch Member Posts: 45
    Thanky you again, and your memory is impressive!
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    You're very welcome karch.

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  • mc_lamc_la Member Posts: 3
    Hey Car_man,

    Can you give me the MF and residual on the GLK 350 but not the 4Matic? And does MB offer a 10K/yr rate?

    And do you have an opinion on the GLK 350 vs the Lexus RX-350?

    Thanks!
  • shuedshued Member Posts: 107
    Hi, Guys:
    I have not released a car before. Two stupid questins, such 58 % means the percent of MSRP? or invoice? As I quess, .00193 and 58% should means same thing (or directly proportional). Right?
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    I sure can, mc_la. Mercedes-Benz Financial's March buy rate lease money factor and residual value for a non-4Matic GLK 350 with 10,000 miles per year are .00193 and 57%, respectively for consumers who qualify for its top credit tier.

    Both the GLK and the RX 350 are good vehicles, but I personally prefer the RX.

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  • mc_lamc_la Member Posts: 3
    Thanks for the info Car_man.

    I think we like the Lexus RX better too, so that's what we'll almost certainly go with. Certainly the residual value and the money factor on the RX are better than the MB GLK right now.

    Thanks again for posting and for these boards. Been a great help to me every time I lease a car.
  • storm10storm10 Member Posts: 260
    Residual value is the percentage from MSRP (not invoice). So when you negotiate the selling price - your residual does not change. Thats how you lower your monthly payment.
  • storm10storm10 Member Posts: 260
    Personally, I would never buy a Front Wheel Drive vehicle, because it affects the safety and performance. That's the reason I would not buy the Lexus RX...
  • karchkarch Member Posts: 45
    I too absolutely hate FWD.
  • geemm2geemm2 Member Posts: 2
    hello car_man,
    i'm getting a quote on a 2011 GLK lease with premium pkg 1 and multimedia pkg for 40,987. he says it's 831 over invoice, but only 713 off msrp. what are your thoughts? and for a tier 1 credit buyer i also think their money factor is too high. and what's an acquisition fee? i haven't seen anyone discussing that in this blog. and lastly, what are your thoughts on this car vs. the bmw x3? thanks for any help.
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    You're very welcome mc_la. Thanks for the kind words.

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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi geemm2. According to the data that's available here at Edmunds.com, Link, there is a spread of around $3,000 between this truck's MSRP and its dealer invoice price. If you are in an area that has a decent level of competition, you may be able to do better than a $713 discount.

    MB Finance's current buy rate lease money factor for the 2011 GLK350 is .00193 for consumers who qualify for its top credit tier.

    All banks that lease vehicles charge an acquisition aka bank fee. MB Finance's base acquisition fee is $795

    Both the X3 and GLK are nice trucks. If I had to pick one over the other I'd probably go with the X3, but again they're both good vehicles.

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