2020 Mercedes Benz GLC 4MATIC Lease. What is wrong with this?

So I just received a quote from the dealership on a 2020 Mercedes GLC 4MATIC SUV. It does not seem to be a good deal whatsoever. They are offering me the following:

42 month lease
15k miles per year
Total of $3,700 DAS (In NY, so no MSD’s)
Total of $597.91/month

42 month residual value for 15k miles is 49%
MBFS Tier 1 MF .00058
MSRP $53,640
Sale price of $49,125
$500 lease incentive from MB
Dealer discount of $4,015
MB does not offer any rebates as they are taxable, they offer incentives which simply reduce the cost of the vehicle to the dealership.
2020 GLC300 SUV’s have a $500 lease incentive at this time.

What do you all think? Plugged this information into the calculator and I seem to be getting a number in the high $400’s.

I’d link your calculator here so people can provide better feedback and see where the numbers don’t align.

Why are you doing a 42 month lease? Usually the sweet spot is 36/10 because after about 30k miles, you’re looking at more major service. This would be out of pocket for you.

You need to work on the discount pre-incentive. You’re not even at 10%.

How does this compare to the target price you put together before talking to a dealer based in current lease terms you got from Edmunds with reasonable pre-incentive dealer discount amounts based on researching comparable deals here?

@JMD You keep on getting quotes and making new threads, but do you even understand how leasing numbers work??? You seriously should be educating yourself first.

4 Likes

For this amount just call @nyclife and get his glc43 loaner for cheaper.

4 key points I look for when leasing:

  1. High residual
  2. Low money factor (use MSD’s to lower if possible)
  3. Price of vehicle and what % they are discounting it
  4. Amount of lease cash, rebates, loyalty, etc.

I’ve looked at all this guy’s posts and comments and he definitely does not grasp these concepts. @JMD please research and learn leasing concepts so you can better leverage our advice.

Also - @JMD how many vehicles are you getting quotes for? I’ve seen you with a Volvo, Lexus, and now MB?

@JMD please stop posting these quotes without following including proper lease terms. Everyone is telling you to do so, spend the time and learn them especially considering you are negotiating your own lease.

@achen0913 @Jon I do understand that I am not fully aware of how the leasing process works, but I really am trying to learn from all of these forums so I would really appreciate some understanding and not just attack me for my lack of knowledge. @achen0913 I have gotten quotes on many vehicles in this class including the Volvo XC90, BMW X3, Lexus RX 350, and Mercedes GLC. What is wrong with that? Although I may not know a lot at this point I am just trying to display the information to you guys and get advice on how best to proceed. That is all. I am a consumer and some of you are very intelligent when it comes to car leases so I am really just looking for advice. If you could please demonstrate some understanding that would be great. If you are willing to help me out I would really appreciate it.

You can help yourself out. By reading and understanding the explanatory articles posted on LH for this specific reason.

Someone took the time to explain literally everything yet here you are feeling entitled to be spoon fed at every turn.

Here are my suggestions for you:

  1. Stop talking to dealers about numbers right now. Don’t even think about talking to them. If the urge to speak to them comes up, throw your phone out the window and shut the power down to your house.
  2. Read through the leasing 101 articles on here 2 or 3 times, particularly the ones on how to calculate leases by hand.
  3. Choose a couple of target vehicles that you’re interested in.
  4. Put together a target deal for all of those vehicles based on the current lease programs (get this info from edmunds) and target pre-incentive discount percentages from extensive research into comparable deals on like vehicles here.
  5. From those target deals, determine which vehicle you’re going to pursue.
  6. Then, and only then, consider talking to a dealer to see who will do the deal you want.

Talking to dealers about pricing is only for finding a dealer to do the deal you want. Do not, under any circumstances, go talking to dealers to find out what a vehicle should cost. If you don’t already know the answer before speaking to them, you have lost.

6 Likes

I agree bad deal but if you already know that then why are you bringing it here- what exactly is your question?

As requested earlier, put up your calculator so we can see how you’re putting in the numbers. My calculator added up very close to the dealers monthly.

Seems like you still haven’t read or followed any of the advice everyone gave you already?