Looking into purchasing a used 2010 Canadian spec GLK 350. A little bit of info. The car belongs to a family friend who will be moving out of country, so he will be giving up the car. I think the car is in mint condition given the info hes given me. Its a white 2010 GLK 350, currently has 2X,000 KM on it, so it's barely driven. The car is currently on a lease and still has around 7 months left. Monthly payment i was told is arnd $6XX, with a buy out arnd $3X,000.

My question is, what should I be looking out for? Reading the forums I have gathered a few issues with the 2010 models.
1. The transmission have some sort of noise which the dealer may replace the whole transmission. Also the jerking shifts from 3-2 on all models.
2. The rear tail gate motor.
3. Washer fluid leak.
4. Interior squeaks and noises here and there.

Is there anything else I should be looking out for?

Also, does anyone know what kind of options and or packages were available for the 2010 model? Knowing him, his car should be fully loaded, or at least with most packages/options added. I have actually not physically seen the car yet, thats why Im not sure of what the car has or not.

As for the lease part, Im not sure what to do with it, or how to go about. Take over the remaining lease term and then buy out the car? Or straight up buy out the car.

TIA

 

If taking over a lease in Canada is the same as in the US, there are a bunch of conditions to taking over a lease. Since there are only 7 months left on it and you apparently want to keep the car longer than 7 months, you're probably better off straight up buying the car now, assuming that the car is worth the payoff amount. Due to promotional offers at lease inception and changes in the used car market, it's not uncommon for a leased car to be worth less than the payoff. If that's the case, I would not recommend paying more than the car is worth; you could go buy any used GLK for a better price.

 

I think the buyout price + the payments left is much more than the car is worth right now.

If you look at the current CPO GLKs in the Vancouver area, you'll find better deals than that, and with incentives from Mercedes such as 3 payments waved, 1.9% interest, etc.

I bought a few months ago, from Mercedes North Vancouver, a 2011 GLK, 18,000 kms, All options available (premium pack, AMG pack, Xenon, hitch, etc) for about 37K.

Regarding the car, I haven't had any single issue so far (about 6,000 kms). The car is solid.

Love my daily commute in this car.

Cheers.

 

At any given time during a lease, you can request the payoff amount and that is what it would cost to buy the car and terminate the lease at that point in time. You do not pay the payoff plus the remaining payments, only the payoff, which will, in effect, include some portion of the remaining payments. This is true whether you are buying the car for yourself, selling it privately, or selling it to a dealership as a trade-in. If you are the lessee and you don't buy/sell the car but instead turn in the car early then they have a right to charge you a termination fee usually up to the sum of the remaining payments plus the turn-in fee and any wear/use charges, but check the lease contract for exact details.

All of that said, the OP did not specify whether "with a buy out arnd $3X,000" means that the residual amount at the end of the lease (seven months from now) is ~$3Xk or that the payoff right now is $3Xk. We also don't know what that X is and that alone can make a difference of as much as $9,000.

OP, find out what the exact, current payoff is and then look up the value of the car on the used market. If value < payoff, go buy a different car.

 

Our dealer has 2010 GLK 350s with around 50k km priced in low 30s. They come with balance of factory warranty, that can be upgraded to extended warranty for $2800. No way would I take over that lease. Buying outright may be a good option. My guess with that low mileage would be under $30k privately (standard warranty will have expired) or if through dealer (150 point check done) and with 3-year extended warranty added, about $35k.

Lease returns can be a pain. These days they send someone to check car over in minute detail. You can get charged for every little thing, even new tires.

I would never lease. At present a new car purchase with balloon payment (Star Advantage) has lower residual payment, about same payments as the lease residual and no worry about end of lease charges (depending on term).

 

With a bit of searching you should be able to find a loaded 2010 CPO with warranty and out the door for about 30k.
Have a loaded 2010 CPO now with 42 K miles, zero probs or complaints

 

OP is in Canada. I presume you are in USA.

 

Don't buy it you can find something else that is better value than that. Go to the Boundary Mercedes Dealer as that is where they keep all of the stock used cars that are properly reconditioned. Also, since MB Vancouver is moving into a new facility they have crazy deals going on. If you want some help finding a car just PM me and I will help you with my friend inside MB Vancouver.

 

Yes, US