Automotive

What do you guys think about this lease proposal?

  • Last Updated:
  • Nov 30th, 2021 3:13 pm
Member
Jul 23, 2011
255 posts
72 upvotes
Toronto

What do you guys think about this lease proposal?

This is from a Mercedes dealer in the GTA. I’m not an expert, but this doesn’t seem like a fair deal. I’d appreciate more feedback from people who can understand this better than me.

TIA
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61 replies
Deal Addict
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Jun 9, 2011
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Toronto
if $1400/month for 45 months is w/in your comfort zone, go for it. everyone's comfort zone is different....

IMO i wouldn't let myself and my family pay $1400/month for a GLC300. and pay premium gas @ $1.75/L

edit: simple search in leasebuster will give you an idea how much others have paid for their GLC and GLE leases...

https://leasebusters.com/vehicle-search ... =L4E%200Z4
Deal Fanatic
Jan 15, 2017
5750 posts
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Ottawa
The lease rate of 5.09% is simply crazy, especially as MB website is currently advertising the GLC 300 for 2.99% for 45 months.

And it looks like every available add-on has been included. I wouldn't be too interested in paying a high interest rate things like the maintenance package.
Sr. Member
Feb 10, 2008
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how do you zoom in to see the image? I'm on google chrome and can't see anything in that picture (everything is tiny and blurry)
Sr. Member
Mar 20, 2017
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1846 upvotes
Since this is RFD, I’d say you’re getting ripped off. 5% is crazy in these times. And the residual is insane. The interest rate is higher than MB advertises so unless you have really bad credit, you’re getting hosed. The residual is set by MB so nothing you can do there.

Just as a point off reference. I got my F150 through the RFD thread here last year. It also has a MSRP of $70,000+. Like everyone else on that thread, I’m only paying $470 taxes in every month on my lease.

I can think of many things I would do with the $1000 extra every month
Member
Jul 23, 2011
255 posts
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Toronto
E39M62 wrote: Since this is RFD, I’d say you’re getting ripped off. 5% is crazy in these times. And the residual is insane. The interest rate is higher than MB advertises so unless you have really bad credit, you’re getting hosed. The residual is set by MB so nothing you can do there.

Just as a point off reference. I got my F150 through the RFD thread here last year. It also has a MSRP of $70,000+. Like everyone else on that thread, I’m only paying $470 taxes in every month on my lease.

I can think of many things I would do with the $1000 extra every month

5.09% is the standard rate for 2022 GLC from MBFS. It’s for my wife. But I agree 5.09% is crazy. I couldn’t believe it myself.
Deal Expert
Aug 22, 2011
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Center of Universe
Buy your wife something else...or get a new wife.
Member
Jul 23, 2011
255 posts
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Toronto
skeet50 wrote: The lease rate of 5.09% is simply crazy, especially as MB website is currently advertising the GLC 300 for 2.99% for 45 months.

And it looks like every available add-on has been included. I wouldn't be too interested in paying a high interest rate things like the maintenance package.
2.99 is for 2021. I’m assuming 5.09 is due to car shortage and to make up for loss revenue.
Member
Jul 23, 2011
255 posts
72 upvotes
Toronto
E39M62 wrote: Since this is RFD, I’d say you’re getting ripped off. 5% is crazy in these times. And the residual is insane. The interest rate is higher than MB advertises so unless you have really bad credit, you’re getting hosed. The residual is set by MB so nothing you can do there.

Just as a point off reference. I got my F150 through the RFD thread here last year. It also has a MSRP of $70,000+. Like everyone else on that thread, I’m only paying $470 taxes in every month on my lease.

I can think of many things I would do with the $1000 extra every month

It’s the residual that shocked me. I’ve owned everything from C43 to GLE over the years. Both had almost all the options and I’ve always got a good deal from Thornhill MB. But Thornhill MB doesn’t have the packages my wife wants, so this dealer is trying to rip us lol.
Deal Addict
Oct 23, 2017
2965 posts
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GTA West
I'm paying a .99% lease rate on my Subaru and I made a large down payment to reduce my interest cost.

I don't know why anyone would want to pay 5% on a lease like that, especially if you don't have any down payment.
Last edited by Dealmaker1945 on Nov 24th, 2021 8:15 am, edited 1 time in total.
Deal Expert
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Jul 30, 2007
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no discount initiated by dealer and no factory credit which is obvious for MY2022

bogus fee: vin etching $289. Wheel locks $158

extra protections and Prepaid maintenance:
Tires & Rims - $1448 for 48 months
Wear & Tear - $1615
45moths (4 services) - $2089
Total - $5,152 + taxes + interest

Interest rate - 5.09%. That's obviously excessive
Residual - 44% for 45 months. This is way too low for a just introduced new model year

In all, if you are smart, do NOT bother with this lease proposal. It is costing you way too much $ and there is no value ... even if you have money to burn.
Member
Jul 23, 2011
255 posts
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Toronto
E39M62 wrote: Since this is RFD, I’d say you’re getting ripped off. 5% is crazy in these times. And the residual is insane. The interest rate is higher than MB advertises so unless you have really bad credit, you’re getting hosed. The residual is set by MB so nothing you can do there.

Just as a point off reference. I got my F150 through the RFD thread here last year. It also has a MSRP of $70,000+. Like everyone else on that thread, I’m only paying $470 taxes in every month on my lease.

I can think of many things I would do with the $1000 extra every month
I was anticipating paying MSRP, no typical 5% going into it lol. It’s a sellers market, so someone else will buy it if you don’t, so they don’t care.
Member
Jul 23, 2011
255 posts
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Toronto
Dealmaker1945 wrote: I'm paying a .99% lease rate on my Subaru and I made a large down payment to reduce my interest cost.

I don't know why anyone would want to pay 5% on a lease like that, especially if you don't have any down payment.
My score is close to 900 lol. I’m not trying to flex but this is second person that mentioned credit . Credit is not the case here. I’m a landlord on multiple properties, so I’m on top of my credit at all times. But I wish my wife would settle for a Subaru that you mentioned lol.
Last edited by Ice_Trae on Nov 24th, 2021 8:19 am, edited 2 times in total.
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another friendly suggestion ... for leasing, do you really want all those option packages ? Premium, Premium plus, night package, tech package, HUD, bigger wheel and running board. Most people will simply choose what they need and be done with as they don't intend to own German brand after the lease is over.
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May 23, 2009
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Seems like a lot of kms. Doesn’t it affect the residual?

36mth / 72,000km
45mth / 90,000km
Member
Jul 23, 2011
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Toronto
booblehead wrote: another friendly suggestion ... for leasing, do you really want all those option packages ? Premium, Premium plus, night package, tech package, HUD, bigger wheel and running board. Most people will simply choose what they need and be done with as they don't intend to own German brand after the lease is over.
Well yes she needs all those packages. I know it’s a lot of packages lol. We always built our car from factory, but can’t wait 6 months or more. This dealer only one in the GTA that has it.
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Jan 14, 2007
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Why would a 2022 have such a terrible residual?

I would never in a million years pay $1400/month for a GLC but maybe that's just how crazy things are now? I'd look at the competitors (X3, Q5) as I'm sure you can do way better even during these crazy times.
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Jul 30, 2007
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for this vehicle, just the lease itself without any fees whatsoever, you are going to pay just shy of $10,000 + taxes in interest alone on a 45 months lease
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Ice_Trae wrote: Well yes she needs all those packages. I know it’s a lot of packages lol. We always built our car from factory, but can’t wait 6 months or more. This dealer only one in the GTA that has it.
Has your wife seen this monthly payment proposal ? The saying of "Happy wife, Happy life" may not apply here. LOL.

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