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Prices Paid: Buying & Leasing Experiences Mercedes Benz GLK-Class Lease Questions
66 messages, Last post on Nov 24, 2009 at 7:25 AM
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Replying to: gvitalik1 (Jan 19, 2009 4:55 pm) $46,000 - P01 - Multimedia pack. - Appearance - 20" - Heated front 36 months lease $2,470 1st payment $682/month Any extra $1,000 will decrease monthly payment by $32 Never leased before, how to argue w the dealer to get a better offer?
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Replying to: csvensson (Jan 24, 2009 7:14 am) 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) or check out the lease forum at MBworld.org/forums good luck! |
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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. Thanks
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Replying to: csvensson (Jan 24, 2009 7:14 am) 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. |
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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?
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Replying to: crestonave (Mar 08, 2009 8:16 am)
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Replying to: sharmahw (Mar 09, 2009 1:45 pm) 2010 GLK 4matic Metallic Steel Gray Black MB-Tex Aluminum Trim P1 Multimedia Sport Appearance Package - 20" Wheels Heated Seats MSRP $45,705 SALE PRICE $41,666 LEASE TERMS 39 Months 12k miles/yr $2500 Due at signing (1st month, tax, fee, etc..) $598 Monthly Payment I think this is a decent offer, any thoughts/suggestions? |
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Replying to: trent_08 (Mar 10, 2009 12:59 pm)
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Replying to: crestonave (Mar 11, 2009 1:23 am) 1st Month Payment 598.31 Acquisition Fee 795.00 Fees & Insurance 427.50 Upfront Taxes 96.44 Cap Reduction (Cash) 582.75 Total Out of Pocket 2,500.00 Payment Information Final Payment 598.31 So it looks like $582 would be the down payment.
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Replying to: trent_08 (Mar 11, 2009 5:41 am) |
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