Hello LeaseHackrs,
I’m so glad that I recently found out about this great source of information/forum.
I am new when it comes to leasing a deal, and to be frank, typically not so great at negotiating. This is why I am trying to educate myself and arm myself with numbers and information before signing.
I’ve been eyeing to get a lease for 2021 Mercedes-Benz GLC300 Coupe and finally went to a dealer to start the search.
This is what I was given.
EDMUND says 48 Months 12k Miles in my zip code should be .00142 MF and 52% Residual.
MSRP: $55,110.00
Sales Price: $55,100.00
Deposit: $3,112.21 (Includes first monthly payment, tax, doc fee, acquisition fee)
Monthly $737.59 / 48 months 12k mileage
The dealer tells me that all the dealers been supply constrained and GLC coupe especially so.
He says that he’ll have no problem finding the finding a buyer without any incentive.
From my observation, it seems like everyone in leasehckr is able to get almost 10% discount off of msrp…
Also informed is that he is giving me tier 1 mf of .00142mf with 52% residual. How can I verify if he’s telling me the truth?
Hoping for some advice.
Thank you!
We always recommend the following method before you ever contact a dealership. If you do all of the work up front, you’ll have a stress free dealer experience and set yourself for success.
Read Leasing 101 (Blog | LEASEHACKR) to understand how to calculate a lease payment and the variables. Monthly payment is an output, not an input!!
Pick a specific vehicle that you want to target
Gather the current MF, RV and incentives from Edmunds forums for your zip code
Research the LH marketplace and other deals that have been made recently on your vehicle - what was their pre-incentive discount? How did their lease terms differ?
Plug your numbers into the LH calculator (CALCULATOR | LEASEHACKR), and use a pre-incentive discount similar to what you have seen
Create a target deal, this is what you’re trying to negotiate to. You can try different terms, selling price discount, etc. and see how your monthly payment is affected. It is also possible that different trims of your vehicle may have different MF and RV (i.e. this is very common with GM), so make sure that you look into that. Come up with a set of inputs that give you the output that you want - your desired monthly payment.
With a target price determined, you now have a deal to pursue and compare dealer offers against. More importantly, you have a solid foundation to work from.
Where did you get this idea from? Also it would be nice if you make an attempt at the calculator or summarize some of your numbers. Everyone these days just post a screen shot and some are not so legible lol.
My fault for not being clear. From my understanding, 10% discount off of msrp seems to be the common theme when I browsed through the forum. Would this differ from vehicle to vehicle?
Yea, I wish I could better utilize the calculator. Did play with it, and will continue to play with it more to make sense of it.
I’ll try to get a better picture, and summarize it better.
Thanks for your help!
