Hello Hackrs!
My current 2018 GLC 300 lease is ending on June 16 so trying to determine if the deal I have on a new 2021 GLC 300 lease is a good one. I’m also far below my mileage on my current vehicle, Carvana gave me an offer of $29,721 which would net me a profit of about $3k.
Would love to hear your thoughts on whether I should buy out my lease and wait for auto market to get better (monthly pmts stay the same, would have to pay about $1700 in taxes), sell to Carvana and get into a new lease (pocket the difference), or try to negotiate the trade-in value/anything else the dealer provided me on a new GLC lease (provided this deal below is a good one).
I’m also looking at the same car. Did you check with Edmunds to verify the RV and MF. There may be a $500 dealer lease cash available which the dealer is already including in the discount but something to consider if you want to push more. You can also consider MSD. 10 MSDs should save you some money. How did you get the fleet discount $ value? Is it from the dealer?
Do you have fleet? Check how much it offers vs $500 dealer cash.
Also MF seems marked high AF, that’s like AMG MF, double check with Edmunds. I see 0.00058 and 0.00099 just doing quick search.
More importantly I don’t think you can trade in a return lease, my hunch is that you are essentially getting the equity after the sales tax paid the residual. In other words, you dealer is asking you to buy that car out then trade in. You are paying tax on whole selling price of the new car again.
I would 1) Sell the car to highest appraiser 2) find a dealer that can offer sales tax credit which should drop the tax rate to 1.5%
Side note, it’s probably worth to get a 4Matic, the drop in MF will make up for the extra MSRP and you get AWD. You never know what the next winter would be like lmao
The RV was given to me by the dealer. I do think the MF is high, so going to try to negotiate that down given my credit score. The fleet discount is based on my employer participating in a preferred employer program (sorry not sure if “fleet” is the right terminology)
Thanks. I also got the preferred employer program, but the email that I got stated that I need to go to a dealer to access my personal discount. One dealer said that I’d get an extra $500 off for fleet.
Your dealer has also marked up acquisition fee: base is $795. Given that the dealer included $1750 (lease + fleet) in the selling price, there can be room to push for more discount. I’d suggest compare your deal with the market place offers for your area.
As mentioned you need to independently verify the MF and incentives by asking over in the Edmunds forums.
Then build your target deal in the LH calculator. Asking the dealer for buy rate MF is meaningless if you don’t have a baseline and understand how much $$ the MF markup is affecting it.
Then, once you’re armed with a target deal you know is aggressive but doable, you don’t “ask if the dealer can give you buy rate”, you tell the dealer that you will be in to sign today if they can get to $X payment with $Y DAS.
I closed a deal on a 2021 Audi A6 earlier this month. I had a target pre-incentive discount (best case scenario), based on research and current market conditions. I wanted to be at 10% off, but dealer countered with 9%. We settled on 9.5% with a slight markup in MF, resulting in an effective discount of 9% (assuming buy rate MF). I was happy and dealer was happy.
i was recently on the market for a GLC but didnt get very far since the incentives this month blow, and dealers aren’t discounting them enough considering the 2022 GLC is rumored to be restyled and the 2021 model will soon be dated.
the best deal i found for a 2021 was 480 a month including 7% state tax, with 2000 DAS (first mo payment + fees). the MSRP of the car was higher than yours at around 49 or 50k. needless to say i felt that even that was too much, and def would not pay an effective 603 a month like @mllcb42 mentioned for a car with such low MSRP.
ended up leasing a heavily discounted E Class with a much much higher MSRP and a lower monthly payment. if youre not set on a GLC, 2020 E Classes are leasing decently provided you find one with a good discount and can find a dealer willing to offer you buy rate MF.
Is the 2022 really going to be restyled like the new C-class? I think MB has already announced the 2022 GLC 63S, and it looks to be based on the old design. It seems more likely that 2023 is when GLC will be refreshed.
Thanks all for the feedback. Asked for these data points in Edmunds and received
MF: .00099
RV: 56%
$500 dealer cash incentive
By reducing the money factor to .00099 it seems to bring my monthly payment down to $538/month. I still think this is high… would like monthly payment to be closer to $490/month. Would asking for 17% off MSRP be too aggressive?
Attaching dealer worksheet here as well.
