Lease vs Purchase
You’ve finally decided to get a new Mercedes-Benz in Birmingham but aren’t sure if you should buy or lease.
We understand that the decision can be tough if you don’t know the facts or the differences between the two. Buying a new car offers many benefits that leasing does not but there are also disadvantages to buying a new Mercedes-Benz rather than leasing. Mercedes-Benz of Birmingham wants to help you make the best decision as to whether or not you should buy or lease your new Mercedes-Benz.
Whether you are coming from Hoover, Mountain Brook, or Vestavia Hills stop in and we will provide you with many different options here at Mercedes-Benz of Birmingham that will fit your specific needs.
BENEFITS OF LEASING
The Mercedes-Benz Financial Services First Class Lease Program is a low-cost way of driving a Mercedes-Benz. Consider the following…
- Little or no down payment required and no up-front sales tax payment (in most states).
- Leasing is a low-cost way of driving a Mercedes-Benz. You only pay for the portion of the vehicle you use. And leasing may offer tax advantages if the vehicle is for business purposes (please consult your tax advisor).
- A lower payment means more disposable income for other investments.
- You can tailor your lease to fit your driving habits.
- Whether you drive 7,500 miles, 20,000 miles, or anywhere in between Mercedes-Benz Financial Services’ First Class Lease can be customized to meet your specific needs while lowering your monthly payment. Our High-Mileage lease option provides an extra 5,000 miles per year for a total annual allowance of 20,000 miles. Or, if you currently drive less than 10,000 miles per year, our Ultra Low Mileage lease may be right for you with only 7,500 miles/year. For more information on these special lease options, speak to one of our our knowledgeable Sales Consultants.
- Leasing means there is no hassle with trading-in or selling your vehicle. We take the risk of resale value at end lease and provide you a set purchase option.
You enter a long-term contract for the use of the vehicle and make regular monthly payments – typically for 3 years.
Monthly payments are usually lower than the standard Finance option.
Locked into making payments for the duration of the lease – no option of paying it off early.
You are given a loan for the purchase of the vehicle outright and make regular payments over the period of the loan.
Monthly payments are higher compared to other options.
You’re not locked into a fixed ownership period.
Lower out-of-pocket costs to acquire the vehicle.
If vehicle is driven over specified number of miles, you are charged an extra fee per mile.
A lease may have tax advantages if the vehicle is used for business purposes.
Down payment is always greater than on a lease.
You essentially pay for portion of the vehicle used over the payment term.
At end of lease, you can either buy the vehicle outright, or turn it in and enter into another lease for a new Mercedes-Benz.
Once all payments have been made,you will own the vehicle.
Vehicle can be sold at any time, under any terms.