Looking forward to sound advice here. I reviewed Edmunds and got MF and Residual for this lease so was prepared, but it seems like the payment is inflated excessively for some reason:
Zip: 15090
2020 Mercedes GLE450
36/12k Lease
MSRP: 73,225.00
Dealer Savings: $1,011.00
Customer Cash: $2,536.29 Due on Delivery: $2,536.29
Tax on Monthly Payment: $102.35
Money Factor: .00177
Residual: $42,470.50 Monthly Payment: $1082.59
Options/Advice welcome. Incidentally I built a new GLE450 online for $74k and the lease payment showed $884.
Well, to start with, that is an absolutely abysmal discount. I know it’s a 2020 so there may not be room to negotiate more, but that is spectacularly bad.
Agreed. The downside to even working a discount in my mind is the fact that the 2020 GLE450 isn’t even on the lot. They’re backordered in a queue until Aug/Sept due to a supplier issue with the digital dashboard displays. Something in that payment seems off to me, but feel the MF is on par. I can Finance that through the credit union for $1,105 just to put that lease amount into perspective. Lease $1,082 vs Finance $1,105.
Shop around the Gle’s are still scarce the 450 more so. You should be able to obtain at least 9 to 10 % discount off of MSRP. No incentives right now. I was able to get over 9% discount on a 350 and that was over 6 weeks ago. Just keep shopping.
Thanks for the advice. Found another model priced the same at a Colorado dealer (Across the US from me) and they quickly shot out a payment $200 higher per month with a .00277 MF (vs my local .00177). Are dealers operating on this planet? Looks like, as you said, I may have to wait this out until they’re in stock later in the year or be patient until they wise up.
Hi, You say its a 36/12K lease but that residual is for a 15,000 mile lease or 58% of MSRP. Have them adjust to correct residual. The 12,000 mile residual should be 60%
Below is information I received from Edmunds. I’m still looking for current feedback on great deals, price drops, and who to purchase from in South Florida (Miami preferably).
Good Morning!
What is the MF and RV for 2020 GLE 450 $85,000 MSPR
15,000 Miles Per Year
3 Years
Do you recommend a 4 year lease?
What target price should I aim for?
Does the dealer have control over the MF and RV (i.e. Do I have to negotiate both of these in addition to negotiating the price?)
South Florida - Zip Code 33178
.00125 MF and 55% residual
48% residual for 48/15
That will certainly result in a lower payment.
