Buy or lease GL
#1
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2007 GL450 2007 G35
Buy or lease GL
I am considering a GL350 / 450 but I can't decide whether to buy or lease. I drive about 15-18K/year and would like to put no $ down for either route. The MSRP on the 350 was about $69K and 450 was $72K.
Please help me with this decision as I am currently in a rental car now. . . .
![bow](https://mbworld.org/forums/images/smilies/bowdown.gif)
Thanks.
Please help me with this decision as I am currently in a rental car now. . . .
![bow](https://mbworld.org/forums/images/smilies/bowdown.gif)
Thanks.
#2
Follow the money. You probably would do OK on a 15K miles per year lease, depending upon residual & money factor. When I got my wife's GL, MB had 1.9 financing and I was sure buying was the way to go until the salesman told me the money-factor equivalent was 1.7%. If you plan on keeping the truck 5 years or more then buy, otherwise at least consider leasing.
#3
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2002 S430, 2004 Cobra, 2004 Tahoe
In your particular case, you would be better off leasing simply b/c of the miles you drive. If I were you, I would try to make some kind of adjustment to where you are at a max 15k miles per year, that way on a 36 month lease you are still under factory warranty the entire time. Plus, the amount of miles you drive will absolutely kill any type of trade-in value at the end of 3 years. So like stated above, unless you plan on keeping the car more than 5 years, I would think leasing would be a better scenario for you.
#4
Senior Member
If you put no money down - you should lease, otherwise you will pay more than 100% interest to the bank. Down payment is where you pay no interest.
By the time you finish making all the payments - you'll waste close to $100k and the way you drive you'll be close to 100k miles on your car.
Maybe in 5 years we'll be out of gas. Who knows?
You should lease...
By the time you finish making all the payments - you'll waste close to $100k and the way you drive you'll be close to 100k miles on your car.
Maybe in 5 years we'll be out of gas. Who knows?
You should lease...
#5
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If you put no money down - you should lease, otherwise you will pay more than 100% interest to the bank. Down payment is where you pay no interest.
By the time you finish making all the payments - you'll waste close to $100k and the way you drive you'll be close to 100k miles on your car.
Maybe in 5 years we'll be out of gas. Who knows?
You should lease...
By the time you finish making all the payments - you'll waste close to $100k and the way you drive you'll be close to 100k miles on your car.
Maybe in 5 years we'll be out of gas. Who knows?
You should lease...
![Smilie](https://mbworld.org/forums/images/smilies/smile.gif)
Something to think about also is that your payment will be huge with finance/no money down. Go to MBUSA website and plug in lease vs finance figures and compare. The monthly payments will vary greatly depending on term and milage, etc. Good luck.
#6
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2007 GL450 2007 G35
Thank you for the input everyone. What should I be expecting for the money factor now? My dealer offer me .0033 for GL350 with residual at 53% and .0022for GL450 with 56%. They don't sound like a good deal to me at all. Any recommendation of a dealership in southern California? Based on the MSRP of 69K / 72K he offered 63K and 65K which is not even 10%....
Thank you.
Thank you.
Last edited by nominivan4me; 02-09-2010 at 09:19 PM.
#7
Member
You might want to check out
https://mbworld.org/forums/automotiv...ry-2010-a.html
It is from the MB forum board near the bottom. It has the lease numbers, etc.
A website is also LeaseCompare.com
2010 Mercedes GL450
24 Month – Residual 58% of MSRP – .00254 Base Rate
36 Month – Residual 56% of MSRP – .00209 Base Rate
48 Month – Residual 40% of MSRP – .00209 Base Rate
60 Month – Residual 35% of MSRP – .00330 Base Rate
2010 Mercedes GL350 BlueTec Diesel
24 Month – Residual 59% of MSRP – .00365 Base Rate
36 Month – Residual 53% of MSRP – .00330 Base Rate
48 Month – Residual 43% of MSRP – .00330 Base Rate
60 Month – Residual 37% of MSRP – .00330 Base Rate
CLICK for $986 / 39mo Lease Special
Residuals posted are for 15K miles/year. Add 2% to Residual for 12k mi/yr and 3% for 10k mi/yr on all terms
Note: I just copied and pasted this info from that other page. Check it out.
https://mbworld.org/forums/automotiv...ry-2010-a.html
It is from the MB forum board near the bottom. It has the lease numbers, etc.
A website is also LeaseCompare.com
2010 Mercedes GL450
24 Month – Residual 58% of MSRP – .00254 Base Rate
36 Month – Residual 56% of MSRP – .00209 Base Rate
48 Month – Residual 40% of MSRP – .00209 Base Rate
60 Month – Residual 35% of MSRP – .00330 Base Rate
2010 Mercedes GL350 BlueTec Diesel
24 Month – Residual 59% of MSRP – .00365 Base Rate
36 Month – Residual 53% of MSRP – .00330 Base Rate
48 Month – Residual 43% of MSRP – .00330 Base Rate
60 Month – Residual 37% of MSRP – .00330 Base Rate
CLICK for $986 / 39mo Lease Special
Residuals posted are for 15K miles/year. Add 2% to Residual for 12k mi/yr and 3% for 10k mi/yr on all terms
Note: I just copied and pasted this info from that other page. Check it out.
Trending Topics
#8
Senior Member
Thank you for the input everyone. What should I be expecting for the money factor now? My dealer offer me .0033 for GL350 with residual at 53% and .0022for GL450 with 56%. They don't sound like a good deal to me at all. Any recommendation of a dealership in southern California? Based on the MSRP of 69K / 72K he offered 63K and 65K which is not even 10%....
Thank you.
Thank you.
#9
Is this really a MB policy or is this on a dealer by dealer basis? If so, then do you guys who lease always do a 10,000 mile a year lease? I had no idea this was available and it totally changes the value proposition of leasing for me. Is there a limit to the overage? Do you have to pay MSRP if they give you this deal. I'm curious how this works because it sounds almost too good to be true. Maybe I'm misunderstanding...
#10
Member
Is this really a MB policy or is this on a dealer by dealer basis? If so, then do you guys who lease always do a 10,000 mile a year lease? I had no idea this was available and it totally changes the value proposition of leasing for me. Is there a limit to the overage? Do you have to pay MSRP if they give you this deal. I'm curious how this works because it sounds almost too good to be true. Maybe I'm misunderstanding...
#12
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2007 GL450 2007 G35
You might want to check out
https://mbworld.org/forums/automotiv...ry-2010-a.html
It is from the MB forum board near the bottom. It has the lease numbers, etc.
A website is also LeaseCompare.com
2010 Mercedes GL450
24 Month – Residual 58% of MSRP – .00254 Base Rate
36 Month – Residual 56% of MSRP – .00209 Base Rate
48 Month – Residual 40% of MSRP – .00209 Base Rate
60 Month – Residual 35% of MSRP – .00330 Base Rate
2010 Mercedes GL350 BlueTec Diesel
24 Month – Residual 59% of MSRP – .00365 Base Rate
36 Month – Residual 53% of MSRP – .00330 Base Rate
48 Month – Residual 43% of MSRP – .00330 Base Rate
60 Month – Residual 37% of MSRP – .00330 Base Rate
CLICK for $986 / 39mo Lease Special
Residuals posted are for 15K miles/year. Add 2% to Residual for 12k mi/yr and 3% for 10k mi/yr on all terms
Note: I just copied and pasted this info from that other page. Check it out.
https://mbworld.org/forums/automotiv...ry-2010-a.html
It is from the MB forum board near the bottom. It has the lease numbers, etc.
A website is also LeaseCompare.com
2010 Mercedes GL450
24 Month – Residual 58% of MSRP – .00254 Base Rate
36 Month – Residual 56% of MSRP – .00209 Base Rate
48 Month – Residual 40% of MSRP – .00209 Base Rate
60 Month – Residual 35% of MSRP – .00330 Base Rate
2010 Mercedes GL350 BlueTec Diesel
24 Month – Residual 59% of MSRP – .00365 Base Rate
36 Month – Residual 53% of MSRP – .00330 Base Rate
48 Month – Residual 43% of MSRP – .00330 Base Rate
60 Month – Residual 37% of MSRP – .00330 Base Rate
CLICK for $986 / 39mo Lease Special
Residuals posted are for 15K miles/year. Add 2% to Residual for 12k mi/yr and 3% for 10k mi/yr on all terms
Note: I just copied and pasted this info from that other page. Check it out.
Thank you!!
#13
Senior Member
Is this really a MB policy or is this on a dealer by dealer basis? If so, then do you guys who lease always do a 10,000 mile a year lease? I had no idea this was available and it totally changes the value proposition of leasing for me. Is there a limit to the overage? Do you have to pay MSRP if they give you this deal. I'm curious how this works because it sounds almost too good to be true. Maybe I'm misunderstanding...
However, this program is not a 100% rule. It floats from time to time, so you have to watch it, or have your salesman be on alert. Usually, MB Financial notifies you, if you are the one who qualifies...
#14
Member
MB Financial has Loyalty Accelerator program from time to time, where they forgive you 3 to 6 remaining payments, if you take a new car lease with them. So lets say you take 12k miles per year for 36 months. It means you can drive the total of 36,000 miles before any addtl charges. So, for example, if you get to 36,000 miles in 33 months - you can take advantage of this program - they will forgive you last 3 payments, and you are still under 36k allowed miles! You pay no overage charges and also your disposition fees are waived.
However, this program is not a 100% rule. It floats from time to time, so you have to watch it, or have your salesman be on alert. Usually, MB Financial notifies you, if you are the one who qualifies...
However, this program is not a 100% rule. It floats from time to time, so you have to watch it, or have your salesman be on alert. Usually, MB Financial notifies you, if you are the one who qualifies...
#15
Member
No the money factor is not negotiable from MB financial (usually) but you can negotiate other variables such as other fees they try to add on and the final sale price. Term sometimes makes a huge difference. Different models have different residuals depending on options, etc. So do your homework to do your best deal. For example sometimes a higher end car/suv with all the bells and whistles may have a higher residual than a less expensive model with less options. You are leasing the portion of the car from the price you negotiate to the residual. So you want to lease at the lowest possible price on a car with the highest possible residual and hopefully a great money factor (money factor is similar to a percentage rate on a loan). So sometimes you can almost wind up with a cheaper payment on a loaded model than a stripped down model based on residual value. (this is simplified but you get the picture). Go to MB USA and run different terms (24 vs 36 vs 39 months) etc, and different models, options etc. You may be surprised. My philosophy is to put little money down on a lease (why put a lot of money down, you are still paying the same amount for the term, you just make the monthly payments less) lease for short enough term to avoid out of pocket expenses. Why lease long enough to let the vehicle get out of warranty? I prefer 24-36(39) month leases, any longer, I purchase. If you are going to lease long term, why not just purchase? If I am paying on a car for 5 years, may as well get equity and then sell it or trade and have something to show for it.
Sorry to ramble but just my two cents worth.
Last edited by robalo220; 02-11-2010 at 10:33 PM. Reason: clarification
#16
MB Financial has Loyalty Accelerator program from time to time, where they forgive you 3 to 6 remaining payments, if you take a new car lease with them. So lets say you take 12k miles per year for 36 months. It means you can drive the total of 36,000 miles before any addtl charges. So, for example, if you get to 36,000 miles in 33 months - you can take advantage of this program - they will forgive you last 3 payments, and you are still under 36k allowed miles! You pay no overage charges and also your disposition fees are waived.
However, this program is not a 100% rule. It floats from time to time, so you have to watch it, or have your salesman be on alert. Usually, MB Financial notifies you, if you are the one who qualifies...
However, this program is not a 100% rule. It floats from time to time, so you have to watch it, or have your salesman be on alert. Usually, MB Financial notifies you, if you are the one who qualifies...
#17
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SLS Irridium silver,2014 GL350 BT Irridium, 2015 White Dodge RAM Hemi Quad
I am a lease guy, always have and always will, I have the itch to trade and move cars every two to three years, if I was buying I would get raped on the loss I would accumulate, with leasing, it gives me the peace of mind that after a few years the car is gone, meanwhile, nothing for out of pocket expenses as the car is always under warranty...plus, never buy a depreciating asset unless you plan to keep it more than 6 yrs. Right now I had leased a 2009 ML350 for my wife last march 2009, since then we added another child into the family, so we have a two year old boy and a 4 mnth old girl, with the double stroller and everything else associated with having two very young children, I am struggling for trunk space in the ML. On the weekend I had a 2010 GL450 for the day and was very impressed with it, funny enough, it fit in the garage no problem, it seemed to be the same width as the ML but just longer and taller, so I am now negotiating with my dealer to take back the 2009 ML350 and get my wife into the 2010 GL450, I will keep you posted....oh, and it is a lease we are trying to figure out.
#18
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2007 GL450 2007 G35
I am a lease guy, always have and always will, I have the itch to trade and move cars every two to three years, if I was buying I would get raped on the loss I would accumulate, with leasing, it gives me the peace of mind that after a few years the car is gone, meanwhile, nothing for out of pocket expenses as the car is always under warranty...plus, never buy a depreciating asset unless you plan to keep it more than 6 yrs. Right now I had leased a 2009 ML350 for my wife last march 2009, since then we added another child into the family, so we have a two year old boy and a 4 mnth old girl, with the double stroller and everything else associated with having two very young children, I am struggling for trunk space in the ML. On the weekend I had a 2010 GL450 for the day and was very impressed with it, funny enough, it fit in the garage no problem, it seemed to be the same width as the ML but just longer and taller, so I am now negotiating with my dealer to take back the 2009 ML350 and get my wife into the 2010 GL450, I will keep you posted....oh, and it is a lease we are trying to figure out.
![Smilie](https://mbworld.org/forums/images/smilies/smile.gif)