Deal Check: 2022 Mercedes Benz GLC 300 lease in Texas

Ask the Hackrs
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Zip code 75093, GLC 300W ‘executive loaner car’ with 10.6k miles on it. 36 months with 7,500 miles lease. Got MF of 0.0027 and 58% residual. With TTL the OTD total comes out to $600/mo with $4,700 down. Is this a good deal?

MSRP 48,510.00
Discount: not sure, around 10,000.00 (only negotiated about the OTD monthly payment)
Phantom Footprints 259.00
Permaplate 995.00
Window Tint: 399
3M Door Protection 249.00

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MSRP? Sales price? How does this compare with other deals you have researched? Is that the money factor at buy rate?

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No

10 char

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Thanks for your quick response. Keeping the $4,700 down unchanged, at what monthly payment would you think is a good deal?

BTW there is a nationwide lease deal on GLC300 with $609/mo with $4,700 down and that’s without TTL. But I’m taken aback by the 10.5k miles on the car.

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There is a MBCA rebate $750. U need to join but no waiting period. I would try to get a new one, additional maintenance costs may eat u your savings.

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Thanks for the tips about MBCA rebate, Mort. They are the only one with a car available TODAY. Would you pull the trigger on this one?

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What is special about this particular GLC? It’s kind of a commodity vehicle, lots in loaner service so should be easier obtained (based on NE experience). With over 10k, I’m not sure if you’re getting new car residual / rate. Either way you’re “buying back” a lot of miles with the adjusted residual.

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Nothing special really. Just couldn’t get my hands on a real NEW GLC at the moment with local dealers.

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Did you simply drive down the street and those two dealers didn’t have any?

There are numerous vehicles available after a 1.5 second search:

https://www.cars.com/shopping/results/?dealer_id=&keyword=&list_price_max=&list_price_min=&makes[]=mercedes_benz&maximum_distance=250&mileage_max=&models[]=mercedes_benz-glc_300&page_size=20&sort=best_match_desc&stock_type=new&trims[]=mercedes_benz-glc_300-base&year_max=&year_min=2022&zip=75093

Anyway, I don’t think you should pick one up until you have more understanding of a lease imo. Most of us on here don’t want to see anyone get burned with any purchase/lease. You don’t know what the critical numbers are, and you’ve been payment shopping by the looks of it. (no and NO)

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zaimer, thanks for chiming in and appreciate your good heart. I am new to lease and you are right I don’t know a lot of the critical numbers. That’s why I’m coming to this forum in order not to get burned.

I went to both the first two dealers on your car search link and the available cars shown on the listing are either sold or earmarked for someone who paid $1,000 deposit. The other dealers are too far away.

If I’m pretty certain I won’t be purchasing the vehicle at lease-end I can just focus on monthly payment and down payment (assuming 36mo lease with 7,500 miles), correct? What other critical numbers am I missing here?

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Read it 3 times and I think I understand what the 8 things I should know before leasing now. Still no idea if the numbers I posted constitute a good deal or not???

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They dont.

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Paying almost 9k a year to drive 7.5k miles in a used base model MB sounds like a pretty horrible deal

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If you have no clue what dealer discount you are getting, then maybe you are not ready to negotiate. It is pretty simple to get that info from a dealer, once you have done all research and know whether there are currently any manufacturer incentives you might qualify for.

The phantom footprints and permaplate are pure dealer profit.

Forget about these nationwide deals. Have you read the fine print? Those offers are usually worse than what some brokers offer.

Not sure what your timeline is as far as getting a new car, but I would run away from this deal/dealer.

Then read it for the 4th and 5th time. Here is some free advice - You should be focusing on the following variables:

  • Dealer discount off MSRP (not including any manufacturer or other rebates)
  • Manufacturer or other incentives you might qualify for (if you have no clue, check out the Edmunds forum)
  • If leasing, what money factor (rate - similar to the APR if financing) the dealer is using. It can be mraked up for dealer profit
  • Dealer add-ons such as permaplate, etc. I would personally not do business with a dealer that adds these BS add-ons for pure profit.

As a point of reference, check out broker deals in the Marketplace to get a baseline of what you should be paying for this car.

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Texas? You either needs tax credits on a better lease, or find something to finance.

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Thank you so much Bluemkn57cars. Staying away from this dealer. Will be spending time on my due diligence before I try to negotiate my next lease. My timeline is preferably before year-end but definitely before Q1 2023.

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This at McKinney?

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McKinney. Yes.

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Are you set on a Merc?