Mercedes-Benz Deals: Buy or Lease a Mercedes-Benz
There is a special feeling about driving a Mercedes-Benz. With all the luxury and the sleek appearance this machine comes with, all luxury drivers admire it. You now have the chance to drive it too. You’re moving from one dealership to another, looking for the best deals! But are you wondering whether to buy or lease a Mercedes-Benz? You’ve come to the right place. In this post, you’ll get to know the benefits and downsides of the two plans and identify which works best for you. Let’s dive in!
Leasing Your Mercedes-Benz?
If you need more time to be ready financially to purchase a Mercedes, leasing it is an option. Leasing a car is taking it for a specific time at an agreed monthly fee, after which you return the vehicle to the dealership. Your Mercedes Benz lease payment plans depend on whether you take your Mercedes-Benz for personal use or business.
There are certain factors you should consider before settling for a leasing option. Such factors include:
- The cost of the vehicle
- The available lease specials
- The lease miles per year
- Residual value
- The lease length
- Lease terms
Benefits of Leasing Your Mercedes-Benz
Leasing your Mercedes-Benz comes at a lower cost compared to buying it. Thus, it’s a good option if you’re not ready to finance a new car. This works even better if you want to drive the high-end model. Of course, you can drive it at a lower monthly cost than when you purchase it. Another thing is you don’t have to bother yourself with the long-term maintenance of the vehicle. Unlike buying, where all cost is on you, the dealership caters to the care of your Mercedes-Benz while you’re driving it.
No Worrying About Depreciation
It’s evident that depreciation is a worrying aspect for any car owner. Luckily, leasing is different. You can return your Mercedes and lease a newer model without worrying about its state at the end of your lease contract. You can also choose to purchase the car at a lower cost.
New Car Every Few Years!
Who doesn’t like the beauty of a new car? With leasing, you can drive the most recent Mercedes models with up-to-date tech. It allows you to upgrade to the most classic model at the end of each lease.
Easy to Trade-In
You probably know how hard it can be to trade in your old purchased car. Luckily, this is different from a leased car. At the end of every lease agreement, getting another car is easier than you think. You simply drive to the dealership, clear any remaining amount and leave with a brand-new Mercedes-Benz.
Disadvantages of Leasing
Leasing your Mercedes-Benz comes with some downsides as well. Below are some of the common leasing demerits.
This is the number one downside of leasing a car. Every lease agreement states the miles you can cover with the vehicle. Given that the dealership is responsible for maintenance and general upkeep, they limit you to a specific mileage to keep the maintenance cost low. Thus, every time you use your Mercedes-Benz, you have to be careful not to exceed the stated mileage; otherwise, you’ll pay the penalty.
The other thing about leasing is the restriction to modify the car. Unlike when you buy it, leasing forces you to stay with its standard features.
Lease Termination Charges
If you end the lease before the agreed time, you’ll pay some charges for the same. Sometimes, you may lease your Mercedes only to realize it doesn’t have some of the features you desire and decide to end the lease before expiration. Or you run into unavoidable reasons that force you to do that. Unfortunately, you will end up meeting some exorbitant costs. Some finance companies may require you to find another person to assume the lease, but you’ll still have to pay some penalties.
Buying Your Mercedes-Benz
Do you have access to a good auto loan? A Mercedes-Benz purchase might be easy for you. But, just like leasing, buying has its good and bad sides. Although many prefer financing a Mercedes over leasing, the decision depends on your preferences.
Buying a car means you’ll own it at the end of the payment. It might mean meeting a higher monthly loan payment, but it’s worth it. Mostly, the decision to purchase your Mercedes depends on such factors as;
- The longevity- how long do you want to use the car
- The cost of insurance
- Purchase price
- Credit score
- Loan terms, and many more
Benefits of Financing Your Mercedes-Benz
Once you purchase your Mercedes-Benz, you’re entitled to it. This means you’re free to use the car with no restrictions whatsoever. You can modify your car, drive it with no mileage limit and many more.
Buying a car allows you to dispose of it any time you want. You are free if you ever feel like selling it to acquire a different model. Also, you can trade in the car when purchasing the new one. As we saw, leasing only allows you to change the car and lease another from the same dealership, while with buying, you can trade in the vehicle in any dealership.
Buying your Mercedes will save you some money in the long run. You’ll never own a car, regardless of the number of times you lease it. Should you purchase the car at the end of the paying period, you own it, and no more payment is needed, but leasing continues for a longer time, ripping you more cash.
Disadvantages of Financing
One of the most damaging aspects of financing a car is this one here, Depreciation. The excess tear and wear of your vehicle are on you. In addition, should you decide to sell the car or trade it in for a different one, you’ll get back a lower value than you invested.
High Monthly Payments
When you finance your Mercedes Benz, your monthly payments and interests will be higher than leasing. If you’re looking for the cheapest monthly payment option, financing might not be for you.
What is the Way Forward?
Having enlightened you regarding the two options for driving home a new Mercedes, the ball is now in your court. Whether to finance or lease it is a personal financial decision. However, the points above will guide you.