Car Buying vs Car Leasing
Which Option Works Better for Driving Your Next Car?
Car Buying vs Car Leasing
To Lease or to Buy: That’s the Question
You finally found the perfect Mercedes-Benz for your drives and lifestyle. What should you do next?
Usually, you’ll decide between leasing or outright buying your vehicle. Both options get you behind the wheel of your dream car but are very different in how they work, how much you’ll pay, and how you’ll actually drive your car. To discuss your options in-depth, head to Mercedes-Benz of El Dorado Hills to take a look at your Mercedes-Benz finance options. During your visit, take a test drive of any Mercedes-Benz that catches your attention. Until then, here’s a quick look at whether leasing or buying is a better option for you.
Do you want to ensure you’re always behind the wheel of the latest and hottest Mercedes-Benz? If so, leasing is the option for you.
With leasing, you make monthly payments to drive your Mercedes-Benz for a short time (usually three-year terms). During your lease, you’re also limited to a certain number of miles you can drive. After your lease ends, you get a choice between switching out your current vehicle for a new Mercedes-Benz or buying your currently leased ride. As a thank you for choosing Mercedes-Benz, you can qualify for a credit up to $500 when you switch out for a brand-new Mercedes-Benz.
Keep in mind that with a lease, you don’t technically own your vehicle, thus you’ll receive a charge at the end of the lease for any excess wear, tear, and miles you drive. However, based on your driving habits, there’s a good chance these extra charges won’t apply to you.
Compared to a loan, your down payment with a car lease is usually lower. You’ll also pay lower monthly fees than a loan until the end of your lease period. So, if you’re looking for a low-commitment short-term option, consider leasing your next Mercedes-Benz. For any extra questions you have, feel free to visit our Finance Center, where one of our team members will happily discuss your options with you.
If you plan to stick with your ride for the long term, buying is a good route for you. For buying your Mercedes-Benz, you have two options: pay the full price upfront, or take out an auto loan from our Finance Center. Even when you take out a loan, the car is technically yours when you drive it off our lot. That means you’re welcome to put in any after-market modifications you please, such as paint jobs, adding a spoiler, and much more.
Car loans work similarly to leases in that you make a down payment and you’ll make monthly payments until your car is fully paid off. However, at the end of your loan, the car is 100% yours—no need to return it to our dealership or worry about trading it off for a new one. You also won’t be charged for any wear/ tear, miles you drive, or anything else since, again, the Mercedes-Benz is yours.
The length of the loan is almost entirely up to you and your budget needs. For more help with auto loans, stop by the Mercedes-Benz of El Dorado Hills Finance Center, where one of our experts will walk you through the options that work best for your budget.
Explore Our Online Tools to Make Your Choice Easier
Whether you opt for an auto loan or a car lease, we at Mercedes-Benz of El Dorado hills have a few online tools to help you out.
Want to see the types of car loans you qualify for? Visit our online finance center and click “Apply for Financing.” From here, you’ll answer a few quick questions, and you’ll get approved in less than five minutes. Then, you can arrive at our dealership knowing what to look for and what’s realistic for your budget.
If you’re planning to trade in a car, click on our “Value Your Trade” tool. All you need to let us know is your current vehicle’s make, model, year, and trim, and within seconds, we’ll have an estimate for you. Again, it’s another great tool to make your budgeting easier.
For leasing your next Mercedes-Benz, browse our new car lease specials, where you’ll find the latest Mercedes-Benz from this model year at a price that’s great for your budget. Whether you’re looking to get behind the wheel of a sleek family fun SUV with sporty spirit, like the 2020 GLS 450, an ultra-sleek Mercedes-Benz A 220, or anything in between, you’ll find something for you in our lease specials.
Finance Your Next Mercedes-Benz in El Dorado Hills
When you’re ready to explore your Mercedes-Benz finance options, head to Mercedes-Benz of El Dorado Hills. The auto finance experts in our finance center will even walk you through your options and give their expert input on how leasing or buying will impact your budget and driving style.