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Prices Paid: Buying & Leasing Experiences Mercedes Benz GL-Class Lease Questions
111 messages, Last post on Nov 07, 2009 at 8:54 AM
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My Volvo XC90 is leased until 5/08 but I need a bigger car and would like the GL. The local MB dealer said they would look into using the Volvo as a trade-in. What does this mean? I can't find any info about this on the leasing sites. The only reason we're leasing now is because we were only expecting to live in the USA for a brief period. Our plans changed so I would consider buying, although I do like driving newer cars. Anyway, am I stuck with the Volvo or is there a way to get another car without the dealer tacking on the lease payments from the Volvo onto the new car? Any info would be great.
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Replying to: njmum (Dec 01, 2006 11:45 am) njmum, the Volvo trade in basically means the cap cost would be reduced by the value of your trade in that they give you. Let's say you negotiate the "cost/price" of the GL450 you want to lease is 65K. Let's say the residual after 36 months is 54%, therefore the value at the end of the lease is $35,100 (54% times the 65K). Your monthly payment, if you had no trade in, would be based on your usage of the car (deprecation) of $29,900 plus the money factor (interest rate) charged on the 65K value of the car. If your trade was worth say $10K for the Volvo, the cap cost would be reduced by that amount, so your monthly payment for the depreciation portion would be based on 19,900 plus the money factor portion. Also you would have generally have sales taxes built into your monthly payment as well although I believe some states require sales taxes paid on the whole vehicle up front. I'm no leasing expert but I do know states vary on how that's handled. Hope this helps... |
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Replying to: jakpenn (Nov 24, 2006 1:23 pm) according to the following website: http://www.mbworld.org/forums/showthread.php?t=173261 these are numbers that I found (for Dec. 2006): 24 mo/15k mi – Residual Value 67% of MSRP – .00245 Base Money Factor Rate 36 mo/15k mi – Residual Value 59% of MSRP – .00245 Base Money Factor Rate 48 mo/15k mi – Residual Value 53% of MSRP – .00245 Base Money Factor Rate 60 mo/15k mi – Residual Value 42% of MSRP – .00370 Base Money Factor Rate MB is running their Winter Event now (thru 1/2) and in the small print of the GL ad it seems to say that the dealer contribution is about $2K. Good luck--I am looking into the GL as well, and will post any numbers I get. |
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Forgot to mention the adjustments for 12K and 10K mi/yr: Add 2% to Residual Value for 12k mi/yr and 3% for 10k mi/yr on all terms |
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Does anyone know the money factor and residuals MB is offering in January on the GL450 for a 36 month lease with 15,000 miles per year?
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Replying to: rangerexc (Jan 17, 2007 12:05 pm) 2007 GL 450 MSRP $61,675 Sale Price $57,790 39 month lease, 10,000 mi residual 60% money factor .00235 $2500 up front (includes $1,095 bank fee?, 1st payment, reg, title, tax) $779 per month
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Replying to: jon_cocktostin (Jan 23, 2007 12:35 pm)
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Replying to: tombrady (Jan 27, 2007 6:39 pm) |
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Hello there, I currently drive a Lexus GX 470 and it is a little snug in the leg and shoulder width department. So as my lease ends I am seeking to move into another SUV. I have visited Infiti for its Q56, Lincoln for the Navigator, MB for the GL450 and am confused as to which is best for comfort and features. I need a SUV for 15k per year, any suggestions and what the best costs are. Does anyone have the SUV's I mentioned and what are his or her thoughts on the topic. Your friendly NY attorney.
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I've leased cars in the past with no problems but have always leased from the dealer. I'm considering a lease on a new GL450. Has anyone had experience dealing with a third party leasing company as opposed to the dealer? I've heard stories about people getting all kinds of grief from third party leasing companies when they turned their cars in at lease end - excessive charges for excess wear and tear, things along those lines. Anyone have any experience or thoughts in this area? We always maintain our cars. |
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