2021 GLE 350
3rd row+premium+a few other options.
MSRP: $63485
Sell Price:$57771
Rebate: $0
Drive off: $2731.85 (Includes 1st month, govt. & dealer fees, Tax and Cap reduction)
Annual mileage: 7500
Months: 36
MF: 0.00142
Residual: 57%
Sales tax: 8%
Monthly payment:$800
What do you think? Should I go for it?
Can someone confirm that the dealer is not inflating the MF? Seems high
Thank you,
Having current, accurate information for residual value, money factor, and incentives is important in understanding your deal. As such, going directly to a source that has access to that data from the captive banks is your best option. The forums at Edmunds are where we go to get that information, as they have direct access to it from the captive banks. You’ll want to post of the model specific thread for the vehicle you’re interested in and request the most current numbers for your zip code. It is often easiest to find that thread by searching Google for “Edmunds lease” followed by the model of vehicle you’re interested in.
Hard pass from me. I’d never spend that much on an underpowered, moderately equipped 2-row SUV with a nominal third row but YMMV.
I am in FL and I just signed a lease on a GLE 350 with about the same MSRP of yours and I am paying $704 for 36 months. The basic terms of the lease are 3.5K DAS, no MSDs and 10K annual, includes window tint, lease protection, and maintenance for 3 years (the maintenance was because I had to complain to MBUSA due to ridiculous delays). I do not know what the dealership used as the residual or MF because they were by far the cheapest out of the 5 local dealerships in my area and they were able to get my payment to where I wanted it to be. I doubt you will be able to get the same numbers I have, unless you have a contact at your local dealerships and due to the geographical difference (FL to Cali), but I think you may be able to get closer to 730-750 a month if you do more negotiating. The other dealerships in my area were at about that range but the dealership I went with was able to get me a phenomenal deal compared to my local dealerships.
Again, I am in FL so it won’t be the same as in California but just an idea of what others are paying because there are not many recent GLE deals posted in the forums. I hope this helps.
For a 4 cylinder SUV it is not underpowered at all. It has plenty of power to get the job done. No, it’s not a sports car, but people who are buying/leasing a GLE 350 are not getting it for its driving dynamics.
Thanks for the feedback. Can you check your paperwork to see what the MSRP, sell price, and MF and residual?
Thanks
MSRP $63,495
Sell Price: $57,750.44 (not 100% sure)
Residual: DK, but the buyback is $36,475.60
MF: DK
I am not sure the residual & MF and I am terrible at math lol. But my basic lease terms are listed above for my deal.
Your contract will list the agreed upon value/selling price and the residual value. You don’t need to extrapolate anything as it’s spelled out.
Mf won’t be listed, but rent charge will be. It can be calculated as mf=(total rent charge/number of periods)/(adjusted cap cost + residual value)
I’m just curious, how much of that $3.5K DAS was for cap reduction? Also, how much was added to the sales price for the extras you mentioned (window tint etc.)?
It doesn’t matter how much was CCR. Money is money.
Honestly I’m not sure and i dont have my contract in front of me. I told them where I needed to be and they got me the closest. The maintenance is supposed to be from National because I had to complain because the order was delayed by almost 3 months and the factory nor the dealership could provide any insight.
The tint and lease protection didn’t raise the price and I told them to throw it in at the end. My family uses the same sales person for all of our Mercedes and we average about 1-3 per year. I’m very happy with my deal and I think it’s pretty good because other dealerships for the same terms and without the tint and lease protection were all in the upper 700s and low 800s. I know it’s hard to evaluate because I don’t have the residual or MF.
How did you establish where you needed to be?
I looked in this forum and MB World forum to see what people were paying for it, checked out lease brokers to see what they’re offering and contacted my local dealerships to see where they were at. Edmunds and Auto Bytel are valuable sources I used too.
TL;DR: did a lot of research before negotiating at dealerships.
Based of sales price at buy rate or off of monthly? If off monthly, did you normalize the deals for regional pricing/personal situations/etc?
Doesn’t matter if part of it is a “down payment”, which is totally discouraged here?
Money up front is discouraged here. Doesn’t matter if it’s going to cap cost reduction or drive offs
I was looking mostly to see what people were making monthly. There weren’t many broker ads for the GLE because it was little inventory but they were in the 750s and up with MSDs and starts.
I know the community usually discourages putting cap cost reduction on a lease but I’m not sure what the dealership did with my DAS money and I don’t have my K with me. But either way they were still by far the cheapest in my area and compared to a lease broker.
Monthly can vary significantly based in regional variables, personal situations, etc. It’s rarely a good way to compare other’s deals to yours.
Look, sorry if these questions sound dense to you, I’m just trying to understand for my own education. Makris posted he/she got a better deal, but it involved $3.5K DAS. Doesn’t know how the DAS was allocated. If someone says I got a way better monthly payment than you, but it turns out they put $2K on a down payment, cap reduction or whatever you call it, and I put down zero, seems like that would matter, if we’re comparing deals. Maybe I’m being too analytical or maybe I still don’t understand the finer points of leasing.
So $500/m with $500 DAS is obviously better than $500/m with $3,000 DAS
One has a lower total cost than the other.
What doesn’t really matter much is the line by line breakdown of the DAS.
$3,000 CCR vs $3,000 “taxes and fees”… doesn’t matter. Money is money.
So the problem with trying to isolate out the cap cost reduction is it varies based on how the dealer structured the lease.
Let’s say you have a lease that has $3000 in fees, taxes, etc as part of it.
Dealer A may capitalize everything into the lease, and then have you pay a $3000 cap cost reduction.
Dealer B may have you pay everything up front because nothing was capitalized. This would have $0 cap cost reduction.
Both leases would be $3000 due at sale and would be essentially identical, other than showing very different cap cost reduction amounts on paper.