GLK 2015 Lease END RE-Finance or Lease New GLC?
10-15-2016, 10:31 PM
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GLK 2015 Lease END RE-Finance or Lease New GLC?
Hello, Hope you guys have some advice for me, and thank you all in advance 
I have a dilema! I leased a 2015 GLK in Aug of 2014, on a 2 year lease with 7500 miles per year. My lease will be up in another 10 mths. My dealer has offered to take me out of the lease when I have 6 mths remaining on my lease. Or even at 8 mths. I have done 11K miles and know that by Aug 2017 I will be over...
Here is the Dilema! I love this car, I like the shape, I really don't like the shape of the new GLC's.
1) Should I just Finance and buy the GLK at the end of the lease? Or will that cost me too much, not just the finance payments but also the maintenance costs, I am sure I could buy an extended service package.
2) I was thinking as its a discontinued Model, I could negotiate a better price to finance it at? The sticker on the car was $49,950 ......
3) I was told that I would get a better lease price on a 2016 GLC?
4) Can anyone tell me what they have been getting leases's on the GLC for?
5) Other than LOOKS, which are personal, I have also been told that the GLC is a far superior car ?
Please help any advice would be greatly appreciated and if I can answer more questions I would be happy to Oh and some people have told me to switch to a BMW X3 the lease price on that car fully loaded is better on a GLC ....
THANK YOU AGAIN ....
I have a dilema! I leased a 2015 GLK in Aug of 2014, on a 2 year lease with 7500 miles per year. My lease will be up in another 10 mths. My dealer has offered to take me out of the lease when I have 6 mths remaining on my lease. Or even at 8 mths. I have done 11K miles and know that by Aug 2017 I will be over...
Here is the Dilema! I love this car, I like the shape, I really don't like the shape of the new GLC's.
1) Should I just Finance and buy the GLK at the end of the lease? Or will that cost me too much, not just the finance payments but also the maintenance costs, I am sure I could buy an extended service package.
2) I was thinking as its a discontinued Model, I could negotiate a better price to finance it at? The sticker on the car was $49,950 ......
3) I was told that I would get a better lease price on a 2016 GLC?
4) Can anyone tell me what they have been getting leases's on the GLC for?
5) Other than LOOKS, which are personal, I have also been told that the GLC is a far superior car ?
Please help any advice would be greatly appreciated and if I can answer more questions I would be happy to
Oh and some people have told me to switch to a BMW X3 the lease price on that car fully loaded is better on a GLC ....THANK YOU AGAIN ....
10-16-2016, 06:24 AM
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'03 BMW M3, '11 GLK350 AMG (RWD)
If I was you I'd just put a loan on it at the end of the lease an keep it till you're tired of it.
The GLK has a distinctive exterior design that MB has unfortunately abandoned and I think you will regret getting rid of it. Our '11 GLK RWD has been bulletproof, probably going to keep it a few more years.
Also, while the GLC is a nice driver with a beautiful interior, its exterior design is boring. Next SUV for us will probably be an '18 Q5 or maybe even an '18 X3 as these both look to be more distinctive designs than the GLC.
The GLK has a distinctive exterior design that MB has unfortunately abandoned and I think you will regret getting rid of it. Our '11 GLK RWD has been bulletproof, probably going to keep it a few more years.
Also, while the GLC is a nice driver with a beautiful interior, its exterior design is boring. Next SUV for us will probably be an '18 Q5 or maybe even an '18 X3 as these both look to be more distinctive designs than the GLC.
10-16-2016, 10:55 AM
#3
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Not advice but I had to make similar decision 4 or 5 months ago. I picked mine up at the factory and I learned I could get the 2017 GLC diesel factory delivered in September. My lease expired in May but Mercedes Benz has been good about extending other leases I've had when I purchased a replacement, and I confirmed that this time. I drove a GLC gasser and didn't find much difference in handling or feel. Certainly no improvement. The styling is another matter. Insipid. I bought out my lease and haven't looked back. I love my GLK250 and don't have plans to replace it. Especially with the insipid jelly bean design of the GLC.
10-16-2016, 05:55 PM
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If I was you I'd just put a loan on it at the end of the lease an keep it till you're tired of it.
The GLK has a distinctive exterior design that MB has unfortunately abandoned and I think you will regret getting rid of it. Our '11 GLK RWD has been bulletproof, probably going to keep it a few more years.
Also, while the GLC is a nice driver with a beautiful interior, its exterior design is boring. Next SUV for us will probably be an '18 Q5 or maybe even an '18 X3 as these both look to be more distinctive designs than the GLC.
The GLK has a distinctive exterior design that MB has unfortunately abandoned and I think you will regret getting rid of it. Our '11 GLK RWD has been bulletproof, probably going to keep it a few more years.
Also, while the GLC is a nice driver with a beautiful interior, its exterior design is boring. Next SUV for us will probably be an '18 Q5 or maybe even an '18 X3 as these both look to be more distinctive designs than the GLC.
Thank you David, I couldn't agree with you more, the new GLC looks like so many other SUV's out there. Even an Acura, a Lincoln, they all look the same now. The shape of the GLK, that boxy look was a bit like a mini G wagon, which I could never afford!
The question here is that Im not sure what the residual value of the car will be but I see them for around 35K I'll have around 16K miles on it, and I wonder if they will negotiate the price on it because its a model they don't make anymore?
I also heard that leasing a new car will cost me less per month to buy this one...
Would you or anyone here know what deals they are getting on the GLC? Or how much of a deal I could get on the GLK?
I want to lower my payments and as much as I don't like the GLA, thats also an option. Or a BMW X3 !!!! Leases give you the best monthly payments...
BTW I had a GLK 2013, for 3 years .... changed it for 2015 as that was the last model of the car. Only put $1K down and have lease payments in the mid 5's .
I want to pay in the mid 4's. Any suggesting? are appreciated ..... Thank you again.
10-16-2016, 06:01 PM
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Not advice but I had to make similar decision 4 or 5 months ago. I picked mine up at the factory and I learned I could get the 2017 GLC diesel factory delivered in September. My lease expired in May but Mercedes Benz has been good about extending other leases I've had when I purchased a replacement, and I confirmed that this time. I drove a GLC gasser and didn't find much difference in handling or feel. Certainly no improvement. The styling is another matter. Insipid. I bought out my lease and haven't looked back. I love my GLK250 and don't have plans to replace it. Especially with the insipid jelly bean design of the GLC.
.....Thank you for responding I appreciate it .
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10-18-2016, 09:12 PM
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I just care about the look of the car I think the shape of the GLC is awful, the inside might be better but honestly, it now looks like every other suv by every other car maker. My biggest concern is the finance payments and then the maintenance costs. So if anyone here has financed a used GLK from a dealer maybe they can give me an idea of what kind of deal I could get?The only thought that crosses my mind is that surely the fact that it's now a discontinued model it should be cheaper ? And can I negotiate the risidual amount with MB?
Again I thank all of you for your advice and help
10-18-2016, 09:13 PM
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10-19-2016, 01:58 PM
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2014 GLK250, 1983 Caterham super 7
This isn't a personal dig against you. But I have to ask. 7,500 miles a year? How do you go on holiday? If you keep the GLK in the garage and fly on holiday to keep within the mileage restriction then you should factor that into the cost of the monthly lease payment. So what's the point then of having it?
Never been a fan of leases, unless one owns a business that can write off the lease payments.
If you drive that little wearing it out isn't going to happen. It's obviously a low mileage GLK, I'd just buy it.
Never been a fan of leases, unless one owns a business that can write off the lease payments.
If you drive that little wearing it out isn't going to happen. It's obviously a low mileage GLK, I'd just buy it.
Last edited by super7pilot; 10-19-2016 at 02:04 PM.
10-20-2016, 05:32 PM
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From my third floor office, it was very difficult for me to tell if a new GLC in my lot was a Hyundai Santa Fe or Kia Sorrento or a GLC.
I would step up to the upcoming GLC Coupe or GLE coupe if styling matters to you.
I would step up to the upcoming GLC Coupe or GLE coupe if styling matters to you.
10-20-2016, 06:45 PM
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2014 GLK250, 1983 Caterham super 7
And lets not forget that the moniker of GLC has already been used. By Mazda from 1977-1985 in North America and it stood for "Great Little Car" And the 323 for the rest of the world. Just the name puts me off the GLC as well as the Uber androgynous shape. Yuk!
10-20-2016, 07:30 PM
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This isn't a personal dig against you. But I have to ask. 7,500 miles a year? How do you go on holiday? If you keep the GLK in the garage and fly on holiday to keep within the mileage restriction then you should factor that into the cost of the monthly lease payment. So what's the point then of having it?
Never been a fan of leases, unless one owns a business that can write off the lease payments.
If you drive that little wearing it out isn't going to happen. It's obviously a low mileage GLK, I'd just buy it.
Never been a fan of leases, unless one owns a business that can write off the lease payments.
If you drive that little wearing it out isn't going to happen. It's obviously a low mileage GLK, I'd just buy it.
it was a mistake! the mileage that is, the two year lease I was advised to take because the GLC would be out and I was told it would be a better car, more miles to the gallon and better safety features. I had some personal issues and (There were no driving holidays) I just thought I would be traveling and wouldn't put on more miles than 7500 a year! That was a bad call! Don't have a business so yes you are right about not having a lease. I now think I should buy the car, because I don't like the GLC. just concerned about what deal they will give me. But I thank you for your thoughts ...
10-21-2016, 02:22 AM
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2014 GLK250, 1983 Caterham super 7
Haha, Super7pilot, glad you asked and it can be a dig it was a mistake! the mileage that is, the two year lease I was advised to take because the GLC would be out and I was told it would be a better car, more miles to the gallon and better safety features. I had some personal issues and (There were no driving holidays) I just thought I would be traveling and wouldn't put on more miles than 7500 a year! That was a bad call! Don't have a business so yes you are right about not having a lease.
I now think I should buy the car, because I don't like the GLC. just concerned about what deal they will give me. But I thank you for your thoughts ...
it was a mistake! the mileage that is, the two year lease I was advised to take because the GLC would be out and I was told it would be a better car, more miles to the gallon and better safety features. I had some personal issues and (There were no driving holidays) I just thought I would be traveling and wouldn't put on more miles than 7500 a year! That was a bad call! Don't have a business so yes you are right about not having a lease. I now think I should buy the car, because I don't like the GLC. just concerned about what deal they will give me. But I thank you for your thoughts ...
If the GLC gets better fuel economy. Yours must be a 350. (I have the 250 Diesel)
I would imagine that you could get a pretty good deal on the GLK buyout. You could take the tact with the dealer that the GLK was "obviously" long in the tooth and that MB saw fit to replace it. So why would they want back a discontinued model Blah, Blah.
A lease can be OK if you are the sort of person that changes cars like knickers. I.E. Very often. But of course just like renting a house you will always have payments. And lease end inspections where you don't release a new car are or can be notoriously nasty. Fees adding up for the slightest of blemishes.
Best of luck and let us know how you come out.
10-25-2016, 05:40 PM
#16
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Love mine
and if you love yours, keep it.
It is the best looking of it's size I think. Maintenance is maintenance, no matter if it is new or used.
Repairs are of another order and that is normally dependent on how well the maintenance was done. Keep it maintained, repair costs should be nominal if at all for quite some time.
You won't get out of buying new tires, but with the money outlayed for a new lease you could get the best tires and have money left over. Put that money towards principal of this car to reduce the payments.
The lease payment on the new car is not likely to be less than what you are paying now, so you wouldn't be saving on the payment like you wanted.
Unfortunately the amount we pay monthly is generally what the vehicle depreciates so it is hard to get ahead by paying less. You could extend the payments from 60 to 84 and possibly drop the payments some, but it will come back to haunt you when you sell, and may owe more than you can sell it for. Kicking the can down the road as it were.
Your residual should be easy to figure out in a general number, it may even be in your existing lease based on the mileage. (notwithstanding the possibility of the fees notoriously charged on a return.)
DO NOT REFINANCE at the dealer before you do this! Go to a bank or credit union...in fact if you are a USAA member ask them to help you. They have a finding service that can get a comparison of values and tell you if you should buy the car, or buy another at a better price. Do the bank or credit union before you go to the dealer so you are well armed with accurate info regarding your options for the buy out.
Please accept all of this as just one man's opinion, but it is what I would do.
It is the best looking of it's size I think. Maintenance is maintenance, no matter if it is new or used.
Repairs are of another order and that is normally dependent on how well the maintenance was done. Keep it maintained, repair costs should be nominal if at all for quite some time.
You won't get out of buying new tires, but with the money outlayed for a new lease you could get the best tires and have money left over. Put that money towards principal of this car to reduce the payments.
The lease payment on the new car is not likely to be less than what you are paying now, so you wouldn't be saving on the payment like you wanted.
Unfortunately the amount we pay monthly is generally what the vehicle depreciates so it is hard to get ahead by paying less. You could extend the payments from 60 to 84 and possibly drop the payments some, but it will come back to haunt you when you sell, and may owe more than you can sell it for. Kicking the can down the road as it were.
Your residual should be easy to figure out in a general number, it may even be in your existing lease based on the mileage. (notwithstanding the possibility of the fees notoriously charged on a return.)
DO NOT REFINANCE at the dealer before you do this! Go to a bank or credit union...in fact if you are a USAA member ask them to help you. They have a finding service that can get a comparison of values and tell you if you should buy the car, or buy another at a better price. Do the bank or credit union before you go to the dealer so you are well armed with accurate info regarding your options for the buy out.
Please accept all of this as just one man's opinion, but it is what I would do.
Last edited by Scott Little; 10-26-2016 at 08:31 AM. Reason: Accuracy
10-25-2016, 05:44 PM
#17
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Totally agree with Scott, except the finance. You may find the MBUSA finance rates to be comparable to the lowest, or very close. Don't count them out.
10-26-2016, 08:54 AM
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Thanks Bob
I guess it wasn't very clear, so I edited to say it first AND last. There are options to MB Finance, and you should be familiar with them before you negotiate.
The sales people have a different mindset than a straight up lender. If you go in un armed you could get shot....at least make sure you have ammunition when going to a gunfight so to speak.
It is a fact that negotiations are adversarial, and if you don't think so going in, you will feel it a couple days after.
Again, just one man's opinion.
The sales people have a different mindset than a straight up lender. If you go in un armed you could get shot....at least make sure you have ammunition when going to a gunfight so to speak.
It is a fact that negotiations are adversarial, and if you don't think so going in, you will feel it a couple days after.
Again, just one man's opinion.
10-26-2016, 10:43 AM
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Plus, those sales guys DO have options! I know that on my last lease I had shopped and had particulars on both residual value and the money factor. The residual was fine but the other was not. That was quickly adjusted on the spot as I started to say goodbye.
10-27-2016, 05:17 PM
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Glad you didn't take it as a dig against you. Because it wasn't meant to be.
If the GLC gets better fuel economy. Yours must be a 350. (I have the 250 Diesel)
I would imagine that you could get a pretty good deal on the GLK buyout. You could take the tact with the dealer that the GLK was "obviously" long in the tooth and that MB saw fit to replace it. So why would they want back a discontinued model Blah, Blah.
A lease can be OK if you are the sort of person that changes cars like knickers. I.E. Very often. But of course just like renting a house you will always have payments. And lease end inspections where you don't release a new car are or can be notoriously nasty. Fees adding up for the slightest of blemishes.
Best of luck and let us know how you come out.
If the GLC gets better fuel economy. Yours must be a 350. (I have the 250 Diesel)
I would imagine that you could get a pretty good deal on the GLK buyout. You could take the tact with the dealer that the GLK was "obviously" long in the tooth and that MB saw fit to replace it. So why would they want back a discontinued model Blah, Blah.
A lease can be OK if you are the sort of person that changes cars like knickers. I.E. Very often. But of course just like renting a house you will always have payments. And lease end inspections where you don't release a new car are or can be notoriously nasty. Fees adding up for the slightest of blemishes.
Best of luck and let us know how you come out.
Hello again superpilot7 .. sorry for the late response, haven't had time to get back on time
I have a 350GLK 2015. my lease ends in sept 2017. I went to see my dealer today and he told me that the finance on the GLK would be more than a new lease on a GLA or GLC ... I asked if MB Finance will give me a better buy out deal on the car closer to lease end, and he said NO, unless market value drops of the car. Correct me if I am wrong, dealers make NO money if I finance the car I have? As I am at 11500K miles he asked me to come back 6 mths before lease end and see what offers they have ..... they tell you that the day you buy a car it drops 30% in value! If thats the case then my car should have dropped to 35K when I drove off with it. 2 years later it should be worth less money! I would like to know if anyone has negotiated with MB Finance and got a decent deal? Or do I just lease either the GLA or The GLC ? I'm starting to think that the GLA's body styling is better than the GLC's ... When in reality both are BLAND as other people have said on this thread.
What do you think about a GLA instead of a GLC ... Or does the GLK still win this discussion ? Again I thank you and appreciate everyones opinions
10-27-2016, 05:37 PM
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and if you love yours, keep it.
It is the best looking of it's size I think. Maintenance is maintenance, no matter if it is new or used.
Repairs are of another order and that is normally dependent on how well the maintenance was done. Keep it maintained, repair costs should be nominal if at all for quite some time.
You won't get out of buying new tires, but with the money outlayed for a new lease you could get the best tires and have money left over. Put that money towards principal of this car to reduce the payments.
The lease payment on the new car is not likely to be less than what you are paying now, so you wouldn't be saving on the payment like you wanted.
Unfortunately the amount we pay monthly is generally what the vehicle depreciates so it is hard to get ahead by paying less. You could extend the payments from 60 to 84 and possibly drop the payments some, but it will come back to haunt you when you sell, and may owe more than you can sell it for. Kicking the can down the road as it were.
Your residual should be easy to figure out in a general number, it may even be in your existing lease based on the mileage. (notwithstanding the possibility of the fees notoriously charged on a return.)
DO NOT REFINANCE at the dealer before you do this! Go to a bank or credit union...in fact if you are a USAA member ask them to help you. They have a finding service that can get a comparison of values and tell you if you should buy the car, or buy another at a better price. Do the bank or credit union before you go to the dealer so you are well armed with accurate info regarding your options for the buy out.
Please accept all of this as just one man's opinion, but it is what I would do.
It is the best looking of it's size I think. Maintenance is maintenance, no matter if it is new or used.
Repairs are of another order and that is normally dependent on how well the maintenance was done. Keep it maintained, repair costs should be nominal if at all for quite some time.
You won't get out of buying new tires, but with the money outlayed for a new lease you could get the best tires and have money left over. Put that money towards principal of this car to reduce the payments.
The lease payment on the new car is not likely to be less than what you are paying now, so you wouldn't be saving on the payment like you wanted.
Unfortunately the amount we pay monthly is generally what the vehicle depreciates so it is hard to get ahead by paying less. You could extend the payments from 60 to 84 and possibly drop the payments some, but it will come back to haunt you when you sell, and may owe more than you can sell it for. Kicking the can down the road as it were.
Your residual should be easy to figure out in a general number, it may even be in your existing lease based on the mileage. (notwithstanding the possibility of the fees notoriously charged on a return.)
DO NOT REFINANCE at the dealer before you do this! Go to a bank or credit union...in fact if you are a USAA member ask them to help you. They have a finding service that can get a comparison of values and tell you if you should buy the car, or buy another at a better price. Do the bank or credit union before you go to the dealer so you are well armed with accurate info regarding your options for the buy out.
Please accept all of this as just one man's opinion, but it is what I would do.
much appreciated. The Purchase Price on my GLK was $46800 I just looked up the Risd Value on my lease and thats $36380 Thats a 2 year lease. I messed up with the milage i went for 7500 miles a year unfortunately things changed as life changes, and I am at 11500K miles and will get to 15K by February which is when they can take me out of the car and switch me to another one a new lease ... I have a strange feeling that the dealer will offer me a good deal because they want me out and into a new lease, RIGHT? because if I buy it it's MB who gets the money and my dealer doesn't make anything ... I'll definitely take your advice and go to a bank, and credit union first.Saw the dealer today and he insisted that a lease would be cheaper than buying out my GLK ..... What do you think?
Thanks
10-27-2016, 05:42 PM
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Bob 338, I agree, I have to also walk away and say goodbye and maybe the numbers will improve! Except do you think they want to lease me a car? or Let me buy my car out? I just got a very strong feeling today that they thought I should lease again.... I would lease if they gave me better payments ... and now that I am thinking GLA VS GLC maybe I have some options to lower payments. Also imagine being told "Its a discontinued car and will keep depreciating in value" "Old technology" etc etc .... Again I thank you for any and all advice
10-27-2016, 05:45 PM
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Scott Little Appreciate your one mans opinion I'll go in prepared and get all the numbers before I go in. Hopefully some people on this tread might have negotiated with MB Finance and give me some tips so that I have some leverage to negotiate ....
Honestly, If I am stuck with what might sound like a good deal at the time between a GLA and a GLC do you have an opinion of which car is better?
Appreciate your one mans opinion I'll go in prepared and get all the numbers before I go in. Hopefully some people on this tread might have negotiated with MB Finance and give me some tips so that I have some leverage to negotiate ....Honestly, If I am stuck with what might sound like a good deal at the time between a GLA and a GLC do you have an opinion of which car is better?
10-28-2016, 07:07 PM
#24
Senior Member
Leases can look cheaper because you're only paying for depreciation. It's a long term rent, that's all. It sounds like your buying on payments. This is generally not the best way to go. The cheapest way is to buy at the lowest interest you can get. my credit union gane me 1.5% on a 60 month term. It's hard to beat that. The GLA is fine but it's a "cheap" car. It's front wheel drive too. Never been a fan of that.
10-28-2016, 07:57 PM
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