I signed to lease a 2022 glc300 at a Mercedes dealer today. Towards the end of doing the necessary paperwork with the MB finance guy- he says that he’s going to give me a brake pads warranty for free.
I agreed to a pre-paid service A and B plan at $595 and I paid the $1095 acquisition fee upfront. He had me sign a warranty agreement for brake pads with cost of $695 which he said the Mercedes dealer is “covering” for me.
I’m looking at the breakdown on the lease contract:
6a. Gross capitalized cost is $53725
($1095 acquisition fee + $695 brake pads warranty + $1035 for prepaid service a and b)
MB finance guy says I’m being charged $595 for prepaid services and no charge for brake pads warranty.
See attachment- is this guy telling me the truth or am I being tricked here?
There’s another page that has the itemization of the gross cap cost
What was your agreed on selling price before the contract came out?
Msrp was $51,900
Discount off Msrp from MB dealer $1000
= $50,900
$750 Penfed Rebate
Attaching page 2
Does the amount due at sale on the lease match what you paid?
Amount Due at Lease Signing is specified as $11,360,
BUT I paid $10,610 which includes $8000 of MSD or multiple security deposits.
Here is the leasehackr calculation, where I get a lower payment?
Does anyone know why my numbers and theirs are different?
Leasehackr says $679/month, when I add $595 for prepaid service maintenance, then it’s $695.53/month. How do they get $718.94?
Sounds like what he did was included the brake pad warranty on the contract, but paid for it himself. The difference here is pretty much exactly the $695 brake pad warranty plus tax
The $750 rebate covers the difference from $11360. The $695 brake warranty was added to the gross cap, which means the OP is paying for it.
Oh, you’re right. I didn’t verify with the contract what the numbers were when asking if the actual das matched the contract das. The contract das is $10610.
I think that I figured it out, I am paying for the “free” brake pad warranty.
I went back to him and asked the finance guy to remove the warranty.
His revised contract does not change my monthly payment because he INCREASED the money factor! SHADY Mercedes finance guy!!
What did you agree on before the contract as far as monthly, mf, etc?
Money factor is .00148 and after 10 MSDs is .00078
Residual value is 57%
MSRP $51900
Dealer discount of $1000 = $50900
$750 Penfed rebate
Drive off= first months payment, registration, dealer fees, acquisition fee
about $2600
10 Multiple Security Deposits
Total monthly payment including taxes should be around $680
One of my incentives to get the new 2022 glc300 was that I had the dealer buyout the lease on my 2019 glc300 and will be getting a check for about $6000 for equity.
When you negotiated the deal, did you negotiate based on monthly or the individual inputs?
Rip them a new one on the survey (all zeroes).
This! I hate dealer shenanigans.
When it sounds too good to be true, it usually is. I would take it up to the GM and see what he can do.
Actually start with writing a 1 star Google review, followed by all 0s on their score and filling a bbb complaint with Mercedes. Once their market manager steps in, it will help fix this
If you give 0s on the survey, you’ll get 0 help to rectify anything.
Have you called the dealer and spoke with them in order to try and get a refund? I don’t think the 0’s on the survey is the way to go because it impacts the salesperson who was not a part of this. I would try to rectify the situation by speaking with the GM and then going from there.
Cash that check and then reassess with a cool head.
Aside from anything on the dealer side, it’s pure insanity paying $700+ for a GLC300.