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Mercedes-Benz GLK-Class, Car Buying, Car Leasing, SUV
#1 of 350 Mercedes Benz GLK-Class Lease Questions
by kyfdx HOST
Jan 15, 2009 (6:33 pm)
Ask your GLK lease questions here!
#2 of 350 Re: Mercedes Benz GLK-Class Lease Questions [kyfdx]
Jan 18, 2009 (2:57 pm)
I got 550+tax with 1500 drive off. What do you think?
#3 of 350 Re: Mercedes Benz GLK-Class Lease Questions [gvitalik1]
Jan 18, 2009 (4:24 pm)
Could you share details? is it with Premium package.
My dealership showed me base offer of 499 per month before taxes with 3700 cap cost reduction for the base+premium. That was before any negotiations with dealership to get the break to the purchase price.
I am trying to figure out if it is possible to get them to $499 per month with 0 down.
That would mean 3,700 discount from the MSRP price.
Hoping for better deal next month...
Jan 19, 2009 (5:00 pm)
yes could you post details ( MSRP, options, months, )and general location gvitalik?
have heard the money factor is .00197 and .54 residual on 10k miles 39 months ---
love to hear you lease details
#5 of 350 Re: [gavin2000]
Jan 19, 2009 (5:55 pm)
Now they came down to 550 including tax with $1500 drive off in California on
755 Steel Grey $720
101 Black MB-Tex
R26 19" Wheels
057 iPod Integration Kit $375
413 Panorama Sunroof $1,200
510 6-Disc In-Dash CD Changer $470
739 Aluminum Trim
873 Heated Front Seats $740
98T Launch Volume
DESTINATION & DELIVERY $875
I haven't received the breakdown of the lease because the payment is still too high for me, and I believe there is still room to negotiate.
#6 of 350 Re: [gvitalik1]
Jan 24, 2009 (8:14 am)
GLK350W4 - dealer in CT
- Multimedia pack.
- Heated front
36 months lease
$2,470 1st payment
Any extra $1,000 will decrease monthly payment by $32
Never leased before, how to argue w the dealer to get a better offer?
#7 of 350 Re: [csvensson]
Jan 25, 2009 (6:58 am)
get the invoice price from Edmunds (new car area, make sure you put the exact right options on and match the MSRP) then make them work back up a price from invoice. (1000 over? 1500 over?)
Promo lease from Mercedes is 39 months, not 36 -- that will decrease your payment right there.
How many miles per year do you need?
Residuals are: .56 for 7500 miles/yr .54 for 10,000 .53 for 12,0000
.51 for 15000
Base rate money factor from mercedes financial is . 00197 (pretty sure on this)
so then it's just a math problem
MSRP x residual = depreciated value
CAP COST (negotiated price including any up front $$) minus depreciated value equals equals depreciation. Divide that number by 39 -- monthly depreciation
CAP cost PLUS depreciated value TIMES money factor = monthly interest
add the monthly depreciation number ( should be up down of 475-500) and the monthly interest (should be around $140 ) to get your monthly payment.
This is better explained (sorry) on some of the leasing sites (leasecompare.com)
check out the lease forum at MBworld.org/forums
#8 of 350 March lease programs
Mar 02, 2009 (11:58 pm)
I am hoping someone can let me know what the residual and money factor currently is for a 39 month lease with 15K miles per year.
#9 of 350 Re: [csvensson] Leasing is tough, almost always
Mar 06, 2009 (11:29 pm)
That's about what a lease is on a 42,000 to 46,000 suv; 2,470 down and $682 per month and that's way to high for an entry level suv like this. The LR2 Land Rover for example is 42,000 loaded but even when they discount the car to 38,000 the lease is still 36 months with 3,300 down and 655 per month. Gee, how can a 38,000 car and a 46,000 car have about the same lease price? Simple, the dealer offers what the dealer offers, you can take it or walk away; the math is there to confuse you, it's not there to give you a good deal, believe me.
The residual and money factor makes no difference, though math experts will tell you differently, neither does the down payment, which you should try to get as low as possible, though often that just gets you paying a higher monthly; look, a low down payment only helps you if the monthly is low too, get it? He can offer you the car for 46,000 or 40,000 but he could make the lease the same price either way; discounts on delivered price make no difference. What you pay in total over 3 years is ALL that matters. yeah, there are some charges up front you have to pay but never give them cash up front, that works for them, never you.
When the lease deal is good (meaning low down payment and low monthly payment) it's because there is a dealer incentive attached, meaning the dealer is giving up his profit to move cars. They only do this when they are super desperate and dealers like Mercedes and Land Rover and BMW are never desperate. Not yet, anyway, but wait a year, they might be.
The way you have to look at it is: what is the lowest price you can get for the car with options you want. Then, what is the combined down payment and 36 months of payments, just add them together and that's what you pay for having use of the car for 3 years. There is no reason to factor in a bunch of complicated math unless you plan on buying the car at lease end which hardly anyone does because it's always a terrible deal, unfortunately, so is leasing at all, it's just that simple. Dealers will screw around with these numbers to confuse you but it's not confusing, how much money are you giving them in total for 3 years, that's all that matters.
Mar 08, 2009 (9:16 am)
Has anyone compared the two in person? Is it possible that Audi's lower advertised lease price for the Q5 will force MB to get a little more aggressive with their leasing on the GLK?