Hi! New here.. GLS450 Lease
Thread Starter
Newbie
Joined: Apr 2016
Posts: 2
Likes: 0
2014 Lincoln MKZ
Hi! New here.. GLS450 Lease
Hello from Atlanta!!!!!!
I'm in love with the GLS450. The 2017's are in at my local dealership and my salesman worked up a price based in the options I wanted. How do I know if I'm getting a good deal? Can I still negotiate price on a lease? The MSRP is 83 and the selling price is 82. The 36 month price w/ 2500 down (7,500 miles) is 1351... This sounds like a lot to me.
Help! I'm a newbie. I want this car but for a reasonable payment.
I'm in love with the GLS450. The 2017's are in at my local dealership and my salesman worked up a price based in the options I wanted. How do I know if I'm getting a good deal? Can I still negotiate price on a lease? The MSRP is 83 and the selling price is 82. The 36 month price w/ 2500 down (7,500 miles) is 1351... This sounds like a lot to me.
Help! I'm a newbie. I want this car but for a reasonable payment.
Super Member
Joined: Jan 2003
Posts: 721
Likes: 78
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Hello from Atlanta!!!!!!
I'm in love with the GLS450. The 2017's are in at my local dealership and my salesman worked up a price based in the options I wanted. How do I know if I'm getting a good deal? Can I still negotiate price on a lease? The MSRP is 83 and the selling price is 82. The 36 month price w/ 2500 down (7,500 miles) is 1351... This sounds like a lot to me.
Help! I'm a newbie. I want this car but for a reasonable payment.
I'm in love with the GLS450. The 2017's are in at my local dealership and my salesman worked up a price based in the options I wanted. How do I know if I'm getting a good deal? Can I still negotiate price on a lease? The MSRP is 83 and the selling price is 82. The 36 month price w/ 2500 down (7,500 miles) is 1351... This sounds like a lot to me.
Help! I'm a newbie. I want this car but for a reasonable payment.
the quality of your lease is directly correlated to the homework you do. asking if your lease is good is the bare minimum due diligence you could do: you need to commit to better understanding the components of the loan. with all the information available via the internet, you have no excuse not to.
secondly, don't dumb down your lease to a monthly payment. that is playing directly into the seller's hands. know what makes up that payment otherwise you will get steamrolled.
couple things for you to consider:
lease means you borrow money to finance the value of the car lost during the course of the lease. so you should find out what the dealer thinks the car is worth at the end of your lease given the amount of miles you put on it. compare that to what you think you could sell it for, private party.
borrow rate (money factor). find out what you are being charged to borrow that money. compare that to what you could get if you were to use a home equity line of credit to purchase the car, or a bank/credit union loan, etc.
cost of vehicle: do you think 1k off of msrp in atlanta is a good discount or crappy? i know nothing about your market but i'm guessing you can do much better than that.
know the cost/benefit of putting money down up front.
gotta do these things on your own..it's in your best interest for this and every subsequent car acquisition
Thread Starter
Newbie
Joined: Apr 2016
Posts: 2
Likes: 0
2014 Lincoln MKZ
the quality of your lease is directly correlated to the homework you do. asking if your lease is good is the bare minimum due diligence you could do: you need to commit to better understanding the components of the loan. with all the information available via the internet, you have no excuse not to.
secondly, don't dumb down your lease to a monthly payment. that is playing directly into the seller's hands. know what makes up that payment otherwise you will get steamrolled.
couple things for you to consider:
lease means you borrow money to finance the value of the car lost during the course of the lease. so you should find out what the dealer thinks the car is worth at the end of your lease given the amount of miles you put on it. compare that to what you think you could sell it for, private party.
borrow rate (money factor). find out what you are being charged to borrow that money. compare that to what you could get if you were to use a home equity line of credit to purchase the car, or a bank/credit union loan, etc.
cost of vehicle: do you think 1k off of msrp in atlanta is a good discount or crappy? i know nothing about your market but i'm guessing you can do much better than that.
know the cost/benefit of putting money down up front.
gotta do these things on your own..it's in your best interest for this and every subsequent car acquisition
secondly, don't dumb down your lease to a monthly payment. that is playing directly into the seller's hands. know what makes up that payment otherwise you will get steamrolled.
couple things for you to consider:
lease means you borrow money to finance the value of the car lost during the course of the lease. so you should find out what the dealer thinks the car is worth at the end of your lease given the amount of miles you put on it. compare that to what you think you could sell it for, private party.
borrow rate (money factor). find out what you are being charged to borrow that money. compare that to what you could get if you were to use a home equity line of credit to purchase the car, or a bank/credit union loan, etc.
cost of vehicle: do you think 1k off of msrp in atlanta is a good discount or crappy? i know nothing about your market but i'm guessing you can do much better than that.
know the cost/benefit of putting money down up front.
gotta do these things on your own..it's in your best interest for this and every subsequent car acquisition
That's why I'm here researching and understand what aficionados like yourself look for when negotiating price.
Thanks for your help!
Member
Joined: Jun 2013
Posts: 76
Likes: 9
From: PA
2018 Porsche Panamera 4, 2017 Mercedes GLS550, 2015 Porsche 911 4S
(Cap Cost - Residual)/ term + (Cap Cost + Residual) x MF = Lease payment
Based on what you wrote, You may know the above terminology.
Cap Cost is the sales price of the car.
Residual is 69% for GLS450 for April
Money Factor is standard at .002
If you already dint know: Add your local sales tax to the lease payment to get your final monthly payment. Local sales tax could be just on the monthly lease payment or the total value of the car depending on the state.
Based on what you wrote, You may know the above terminology.
Cap Cost is the sales price of the car.
Residual is 69% for GLS450 for April
Money Factor is standard at .002
If you already dint know: Add your local sales tax to the lease payment to get your final monthly payment. Local sales tax could be just on the monthly lease payment or the total value of the car depending on the state.
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Member
Joined: Jun 2013
Posts: 76
Likes: 9
From: PA
2018 Porsche Panamera 4, 2017 Mercedes GLS550, 2015 Porsche 911 4S
Ordered 550. Residual 3% less than 450 for April (36/12) but money factor is same. Dealer was comparing the MF for 2016 GL450 which was 0.00086 back then to standard MF for 550 at 0.002. Looks like the MF for 550 never changes like 450's does!
Last edited by vkk0210; Apr 19, 2016 at 09:21 AM.
