Helping mother in law with GLE lease in socal

Ask the Hackrs
1

Hi trying to help mother in law analyze a deal. She is currently at the dealership right and do not have a ton of details but any advise is appreciated.
She is currently in a glc 300, payments are $672 per month with 10 payments left (yes I know terrible numbers)
She is trying to get into a GLE 350. MSRP IS $62000, selling price is $55000.

They will absorb final 10 payments on her current car. Drive off is $1500. Lease term is for 48 months. Residual is $29K. Quoted her $869 payment per month tax included in LA county

Sorry this is all I have. How bad does this sound.

Thank you for any advise.

2

Advice: tell her to thank them and leave, both of you take a big step back and do some homework, set a target deal, etc. etc. Nothing good will come of this in its current state.

9 Likes
3

Ask her to leave… you’re in a bad position with no way of helping.

Edit: This has disaster written all over it. No one is absorbing 10 payments. She’s still paying for it as it’ll be rolled into the deal. Or the dealer is cashing in on any equity in the trade.

10 Likes
4

It’s probably not a stretch to assume that she hasn’t gotten quotes from Carvana, Shift, Vroom, Carmax, the League of Women Voters or the Canadian Mounted Police.

:slight_smile:

6 Likes
5

She literally called me while at work, saying she’s at the dealer with this nonsense of a deal and just don’t have the time/brain power to analyze it this second. But that’s correct, she has not gotten other estimates for her current vehicle. Thank you guys for the quick input!

1 Like
6

I wonder what happened to Mercedes in the past few years. Their lease deals have become so bad.

I was recently quoted over $600 for a leftover 2020 GLB. GLCs are in the 700s.

7

The only way this is going to come to a positive ending is if she gets up and leaves.

4 Likes
8

I’m willing to be she comes home with the car.

5 Likes
9

And we get a thread to dissect how many boat payments the dealer was able to make from the deal.

3 Likes
10

It’s the Royal Canadian Mounted Police lol Regardless of numbers, it is not wise to analyze numbers while she’s AT the dealership.

11

Strongly recommend trying to find out what the buy out price is from MBFS. At the same time, find out what Carvana and Shift will offer. It’s really easy to get a quote from these sites.

See if you can salvage the first lease. Then do homework to find a good new lease.

12

With the caveat that GLE leases are eye-wateringly expensive these days. Just have to know what you’re walking into

13

Is no one gonna mention the mother in law getting an incredible discount! 11.3% off on GLE better than any broker deal.

Of course that’s before what looks like heavy fees and markup of MF leading her to pay over 42k over 4 years for a car where the actual depreciation cost is supposedly 26k if the RV is correct.

But then again, the discount is Yuge!!

14

So what you’re saying is she’s not getting 11.3% off…

1 Like
15

Yes of course!

2 Likes
16

This topic was automatically closed 60 days after the last reply. New replies are no longer allowed.