I have been searching this forum for GLE related topics and it seems to me that it’s not the right time to lease one. MF is generally high (even by today’s standards) for Tier 1 applicants. Dealers try to charge full MSRP on most models, except for electric ones, and seasoned forum members advise to look into better alternatives, such as BMW X5.
Here is my story, or the outcome of interaction with a dozen of MB dealers within 150 mi radius from where I live in Maryland (I actually tried to widen my net, but was told by a dealer located in Tennessee that they are restricted by MB in marketing their cars, so I had to limit my search to dealers that could still sell/register cars in Maryland).
- Few dealers actually provided quotes (most try to bring me in for “a test drive”, to “pick up the car” and “then work out the deal”, obviously I am not falling for it).
- Most MB dealers sound like “it’s my way or high way”, “we are short on stock”, “we don’t offer any discounts under MSRP on this car” and etc.
- The ones who did send me quotes referenced .0037 MF (`8.8% APR) for their top tier customers, with lease payments coming at around $1,500/mo for 36 mo. /10,000 miles per year for a $73K car (they have GLE’s with extra options, very few have base models in upper 60’s, practically none in DC/VA/MD area with color combinations I want), based on 57% residual value.
- I almost forgot to mention, I have a current lease on 2021 GLC 4Matic with sunroof (kind of like a base model, with just AWD and sunroof added to it). I leased that car for $600/mo 48 months @10K mi per year back in 2021, before chip shortages and when the rates were good, it has $35K payoff as of now with 25K miles on odometer, in very good condition, and CarMax offers the same as payoff amount to buy it from me, but dealers consistently lowball and offer $30K-$33K (the ones making highest offer believe I would take it for MD tax savings of $2100 for using it as a trade for a newer car.
What are my options here? I am asking gurus and experienced lease hackers here.
I am not a lease expert, but I feel the numbers on current GLE450 are for the fools to take it, I am not getting into a car with $90K-$100K MSRP to justify quoted prices, even in today’s market. A lot of other makes offer huge incentives to offset the higher than we are used to rates, but MB seems to be dead set in believing that they are Kings of the Market (they are not).
I looked into X5, but I really don’t like the design of newer BMW’s, they make them look edgy, with disproportionate styling (in my subjective opinion), and many of their newer models look like a Toyota or Nissan with a BMW badge. So, X5 is out of consideration.
I contacted few Porsche dealers, I was interested in Macan, and in all fairness with the high MF factor of 0.00490 (perhaps it’s not true, but one dealer said Porsche always have had relatively high MF) they still quoted me Macans with options added (which I don’t need) for less than GLE.
I think I am better off keeping my GLC300 in good condition, change oil, inspect breaks/tires and drive it until lease expires in 2025. I may find better deals then. But I wanted to run this with lease experts of this forum, to hear your insights and suggestions.
I should note that I have done couple of lease deals in the past month with dealers of other carmakers and had not done bad (they paid for my trade around 2K above my payoff and discounted their new cars handsomely). But MB dealers seem to be acting arrogant and argumentative, or stop responding the minute I tell them that their offers are not reasonable.
Which, at the end of the day, very fine with me. I have a nice , 2 years old car and I will just keep driving it until 2025. It’s just really surprising that MB sales reps act like they run a private soup kitchen during a Great Depression.