Do you mean as a purchase? Supposedly this one is a CPO type but they are willing to lease it out. Thought it might be a decent way to get a good deal but not so sure…
Definitely not a good deal. However, that same purchase price over 60 months financed is high 800s.
Mileage is pretty high and it’s hurting your RV making this deal bad.
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That’s a horrible deal. Should be under $600 (not including your crazy TX tax) with nothing down. That’s an outgoing model. Find a different car, if not a different dealer!
I’m guessing this is one of the vehicles at Grapevine? They have loads with high mileage, as much as 18k mileage, which makes them effectively unleasable due to the mileage penalty.
Btw is this a 2018 or 2019, the title and text say different things. I’m guessing 2018? If it is a 2018 that interior is really outdated and you could get a new 2019 GLC300 with a more modern interior for less than the loaner GLE. The downside is the rear space is reduced so it depends what you need it for.
I haven’t seen any good deals on the new 2019 GLE (which has the completely updated Benz interior), the last I saw was something like ~$900 a month but the brokers here might be able to advise what’s possible. It’s going to be way more though as it’s so new.
Yeah good catch - I was thinking 2019 but it is a 2018 GLE. We have been scanning for deals on 2019 and I believe the 2020s are coming soon, which wife does not like at all. Hate how TX does the taxes on leases and wonder if that is a reason getting a good deal on a lease is hard to do (at least since we have been looking for MBs).
Looking again at the quote you got, if you’re set on it or something similar you can get sales tax credits which would knock most of the tax off. That would save you another ~$2.5k, or $75 off the monthly cost. You’re still in the high $600’s p/m including the down payment. If they’re not willing or able to do tax credits I would definitely move on as it just doesn’t make financial sense.
If they can find you a lower mileage ex-loaner with a similar MSRP then that will give you a better residual and thus a better deal.
Another thing to note about going for the older or newer version of the GLE, if for any reason you or your wife wants out of the older version GLE lease it will be much more costly as the value will depreciate faster than the newer version. That is only amplified given it’s a loaner with significant miles on it already.
All new 2020 gle is set to hit dealerships soon. No way should you get a loaner ‘19 unless they’re giving it away.
That’s a terrible deal even if the gle had zero miles.
Appreciate all the great feedback from all! So with this particular deal, from the feedback it is not good but what would need to happen to make it such? Seems the only trigger would be to reduce the sales price to a level that the payment is reasonable, so what might a reasonable payment look like in this case?
So what are the factors in general i want to look for that make a “good” deal particularly with an MB? For example, are there certain ratios I should look for in like Sales Price vs RV or RV vs payment or such that indicate the lease is ideal? I can’t imagine t is just based on monthly payment since obviously everyone would like it to be low, but if you are getting into a luxury car whereby RV’s are pretty std then the price will obviously be higher.
With the miles on this one you need a minimum 25% off before any incentives and buy rate on the money factor.
I’ve added your numbers to the Calculator and I’m within about $2k of your quote:
The most recent numbers I could find on Edmunds was from March on an AWD version here: https://forums.edmunds.com/discussion/47074/mercedes-benz/gle-class/2018-mercedes-gle-class-lease-deals-and-prices/p22
So either the numbers have gotten worse for April, and/or the dealer is marking up the MF. Might also be a small difference between the RWD and AWD, I couldn’t see which one you went for. If you check with the dealer what the MF they’re using you can work out if they’re inflating it. In terms of getting a better deal you’re at 19% discount and if they’re marking up the MF then you might be able to push for a little more discount or get them to give you the base MF. I would be surprised if you get much more off, but others might know what is possible. You should also be able to get Sales tax credits. Those extra savings would get you to around $640p/m with nothing down:
Edit: forgot to mention you can add MSDs on top to bring the payment down further.
So, I’ve been out most of the week and seems my wife did some further back and forth on the deal I posted. They came down a little to $675, 36/10K with $1500 down. He says they don’t offer tax credits on pre-owned vehicles so I believe this number includes tax. Wife is asking about MSDs (sales guys claimed he didn’t know what that was) but don’t see a reason this couldn’t apply here further reducing the payment.
If the monthly payment still doesn’t end up where we want it (lower $600s) are there other incentives that could be asked for like maintenance package, etc?
Yeah MSDs will help. Did you look at any other loaners they had in stock as they had some with lower mileage. They may actually be cheaper as the residual could be higher.
If they add-in free servicing that will save you money as otherwise you have to pay for every service beyond the first. Likelihood is they’ll just try to sell you the wheel and tire warranty with a bit of discount on it.
I was not working with the Grapevine dealer but am looking into those options now. Was still negotiating with the currently dealer so we’ll see what they come back with.
Got another offer from a different dealer: 36/10K, similar miles (8600), but a better monthly payment ($664). Numbers are:
MSRP: $58640 (same as above)
Sales price: $49900
Fees (dealer/govt): $461
Dealer sales MF is .00018
Due at signing: $1100 (first mths payment plus fees)
Havent really started negotiating this one but will ask for a discounted sale price like I got on the initial deal.
Also, in the leasehackr calculator I think I use ‘Tax is levied upfront on the sales price (e.g. VA, GA).’ option for Texas but seems like they roll the tax into the payment and want us to pay the first months payment and fees upfront. What is the right way to configure?
Do some research on Texas sales tax credits.
Great. Any good resources you can point me to or personal tips you have experienced in this regard? Only thing I’ve seen is timing when there are sales tax credit timeframes, which can be difficult if you are depending on when you are looking.
Not sure what to add to this that I haven’t already written. Did you try looking for loaners with lower miles and see if they would do a similar or better deal? There are a few with ~2k miles within Texas.
Have you checked the numbers on a non-loaner model? If there’s incentives (which you won’t get on a higher mileage loaner), tax credits, and a healthy discount it might well be the same cost or perhaps even lower.