Signed lease for new 2021 Mercedes GLB | Leveraged equity from 2018 GLA lease

Around the 1st week of October i popped on here to ask about people experience getting the equity out of their lease.

While i did not get a clear picture, i did receive some great tips and ideas.

The GLA had a residual of $24,600 (locally a similar GLA sells for (lists for) $30,000-$33,000)

We used the $5,774 equity toward the GLB.
Its a 2021 GLB 4matic w/12" touchscreen, garage opener, rear foot control, heated seats, profile memory, etc…
36 months
10,000 miles annually

Our one-time total payment was $13,741.
The listed total payment is $19,600
Minus the equity of $5,770

The gross cap cost: $40,475
The adjusted cap cost: $42,320
The residual: $25,218

There is a longer story here

  • spans five weeks
  • involves odd sales tactics
  • receiving a different vehicle than the one we signed for (newer, better model)
  • finance department being unable to enter the contract into the Mercedes Finance system after three hours and two guys trying
  • receiving a contact that has numbers that do not line up…after already paying
  • getting called three days after paying and asked to pay (due to a mistake on contract which was already paid)
    * another $1300 which i declined
    * another call asked for $550, again i declined
    * a 3rd call asking for $300…i offered to pay $100 if they would stop calling
  • No MSDs included in contract

What was the MSRP?

The sticker on the window says $44,381. (includes $1750 for entertainment package, $300 for integrated garage door opener, heated seats, a few other features)
However, the lease says $42,320 (w/gross cap at $40,475).

When the GLA dealership (Bellevue Mercedes) became aware i was working with the Seattle dealership they asked for a chance to match/beat their offer.
Over the course of three hours Bellevue called me back three times asking me to verify the numbers, provide the MBFS deal # and the inventory ID.
Finally they came back and said the deal we were offered shouldnt be possible.
They said the closest they could get was still $3000 more and was for a dealer driven/loaner…not a 2021 GLB.

For the most part we transferred the equity from the GLA to the GLB …when the lease is up the GLB will likely sell for more than $25k.