Should I Buy or Lease?
When it comes to finding your next vehicle, it’s more than about picking the model. Both have their perks, and it depends on your finances and situation and which is the best option for your life. You’ll also need to ask yourself, “Should I buy or lease?” review our guide below for more information on whether to lease vs. buy and then speak with a professional at the Mercedes-Benz of North Olmsted finance department
Lease vs. Buying: Why Lease?
- Smaller Payments: From a decreased down payment to a lower monthly payment, you can expect payments to be smaller when you lease
- Lower Sales Tax: For most states, leasing a vehicle drastically lowers the sales tax.
- End of Lease Returns: Trading in your leased vehicle is simple. Visit your dealership, pay any fees, and pick a new lease.
- Warranty Coverage: Mechanical issues and maintenance won’t be a concern when leasing. The warranty covers your vehicle maintenance costs as long as you’re under your mileage.
- Options: When you lease, you’re getting the newest models and features, which means you’ll have plenty of new possibilities for your next Mercedes-Benz.
Lease vs. Buying: Why Buy?
- No Mileage Limits: Frequent Road trips or a long commute could end up putting you over-the-lease mileage restrictions, which could cost you at the end of your lease.
- Customization: You can set your vehicle apart from the rest on the Cleveland streets by customizing its look.
- Financing Options: Leasing isn’t overly complicated, but the financing process is more straightforward and offers more wiggle room for buyers with less-than-perfect credit.
- Lower Cost Over Time: Initially, buying can cost you more. However, over time, the cost of owning your car will decrease.
- Resale Value: With leasing, you’re not responsible for the car’s residual value or depreciation, which means you can walk away from the vehicle at the end of the lease term without worrying about its resale value.
See Your Leasing & Financing Options at Mercedes-Benz of North Olmsted
Need more help in deciding to lease vs. buy? Set up an appointment or start exploring our inventory online! Our finance representatives can sit down with you to talk through your specific situation.