First Class Lease Protection
09-12-2017, 12:22 PM
#1
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Mercedes glc
First Class Lease Protection
All,
What is the approximate cost of the "First Class Lease Protection" from MB on the GLC?
Is this cost negotiable?
Is there any merit to buying this or is it all dealer profit.
Thanks
What is the approximate cost of the "First Class Lease Protection" from MB on the GLC?
Is this cost negotiable?
Is there any merit to buying this or is it all dealer profit.
Thanks
09-12-2017, 06:50 PM
#2
MBWorld Fanatic!
Well....
1. Check what is considered "normal wear and tear" - frankly exterior (non-glass) is "credit card size test" - and I haven't heard anyone who uses car mats (carpet or rubber) being charged back on carpet - etc.
2. Check your own car insurance coverage on windshield glass
3. Key protection - can be good thing if you lose key's - you have to ask "how many key"s" - meaning does it cover only 1 - cover only one per yr - you need to know what kind if coverage you are being offered on keys
4. "Most" dealer's will have a MB 1st Class Lease Package and another brand/program like MaxProtect - whatever the program is called - you have the right to know details before you sign the bottom line.
2. Check your own car insurance coverage on windshield glass
3. Key protection - can be good thing if you lose key's - you have to ask "how many key"s" - meaning does it cover only 1 - cover only one per yr - you need to know what kind if coverage you are being offered on keys
4. "Most" dealer's will have a MB 1st Class Lease Package and another brand/program like MaxProtect - whatever the program is called - you have the right to know details before you sign the bottom line.
09-12-2017, 07:45 PM
#3
I cannot comment on the lease protection program, but I can comment on the inspection required before the end of a lease.
I leased a 2014 GLK 350. Someone from a company called AutoVin came to inspect the car for Mercedes before the end of the lease. He spent almost an hour inspecting the car. He was very thorough (for example, he measured the thickness of the paint to see if the car was ever repainted due to damage), and to me, also overly picky.
He noted that the tires had less than the 1/8 inch tread required by the lease and that I would have to replace the tires or be charged for replacement after I turned the car in. I did not complain about it because I knew the tires had little tread.
But what did bother me was his claim of finding about 10 minor dings on the front hood, supposedly from hail damage. He said I would be charged $200 for the dings. I could not see the dings. When I took in the car for the annual maintenance, people at the dealership also had difficulty seeing the alleged dings.
I was so upset that I threatened to cancel my upcoming lease for my GLC 300, but the dealership promised to pay the $200 penalty.
Be prepared for an overly picky inspection before turning in the lease.
I leased a 2014 GLK 350. Someone from a company called AutoVin came to inspect the car for Mercedes before the end of the lease. He spent almost an hour inspecting the car. He was very thorough (for example, he measured the thickness of the paint to see if the car was ever repainted due to damage), and to me, also overly picky.
He noted that the tires had less than the 1/8 inch tread required by the lease and that I would have to replace the tires or be charged for replacement after I turned the car in. I did not complain about it because I knew the tires had little tread.
But what did bother me was his claim of finding about 10 minor dings on the front hood, supposedly from hail damage. He said I would be charged $200 for the dings. I could not see the dings. When I took in the car for the annual maintenance, people at the dealership also had difficulty seeing the alleged dings.
I was so upset that I threatened to cancel my upcoming lease for my GLC 300, but the dealership promised to pay the $200 penalty.
Be prepared for an overly picky inspection before turning in the lease.
09-14-2017, 07:19 PM
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I was told my one dealer that Mercedes includes gap insurance within the lease payment. I guess I will have to see the actual contract at the end of the day.
However, based on experiences with MB Financial, does anyone know the answer?
However, based on experiences with MB Financial, does anyone know the answer?
09-14-2017, 08:31 PM
#5
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Yes... your answer
"Gap Protection" is the term used on purchase contracts - think of it a secondary insurance for extra cost - that on a "totaled" car - will pay any difference between lower cash value (from insurance company) and the higher loan blance (less your deductible.
Mercedes lease program's have built-in - GAP Waiver - included at no additional charge - which is different name - MBFS will credit the difference between the outstanding lease balance at the time of accident - and the lower insurance amount for "totaled vehicle" as long as insurance was current/active at the time of the accident - and that your MBFS lease was current at the time of the accident as well.
Mercedes lease program's have built-in - GAP Waiver - included at no additional charge - which is different name - MBFS will credit the difference between the outstanding lease balance at the time of accident - and the lower insurance amount for "totaled vehicle" as long as insurance was current/active at the time of the accident - and that your MBFS lease was current at the time of the accident as well.
09-14-2017, 09:57 PM
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Got it. So I will get hit with my $1,000 deductible on a total collision, but no risk of an issue with having mismatch between insurer view on vehicle value vs. whatever MBFS has depreciated the car to.
Very helpful.
Thanks
Very helpful.
Thanks
