Should You Buy or Lease Your Next Mercedes-Benz?

The decision to buy or lease depends on many factors, such as how often you change cars, how often you drive, your budget, upfront cost, monthly payments, or driving style.

Typically, drivers who lease Mercedes-Benz vehicles prefer to drive a new car every 2-3 years and would rather lower monthly payments. On the other hand, drivers who prefer to buy their vehicles tend to keep them for as long as possible and appreciate driving without mileage limits.

However, if you’re unsure which option is the right choice for you, we’ve explored the benefits of both to help you make an informed decision.

You may also visit us at Mercedes-Benz of Augusta, Augusta, GA, to learn which method is ideal for you, given your budget and lifestyle.

Buying a Car: The Benefits & Drawbacks

One of the significant benefits of buying is that there are no mileage restrictions, meaning you can drive as much as you want. Choosing to buy a car outright also makes the vehicle yours and only yours, enabling you to build equity. As a result, you can decide to customize the vehicle with parts and accessories however you see fit or sell it at any time.

Buying a car also allows you to benefit from a straightforward financing process or even refinance your loan to reduce your interest rates and monthly loan payments.

On the downside, when you buy a car, you become responsible for maintenance after warranty protection expires, and such long-term maintenance costs can eat into your savings. Also, selling your car before it’s paid off may put you in negative equity, not to mention the fact that buying requires a larger down payment than leasing.

Leasing a Car: The Advantages & Disadvantages

Leasing a car costs less money upfront than buying and has zero potential for negative equity. As well as that, short lease contracts make it easy to drive a new car more frequently and enjoy warranty protection throughout the term. Also, you won’t have to worry about things like resale value, as you can turn it in at the end of your term.

On the other hand, leasing means you don’t get to own the car at the end. Plus, leasing a vehicle prevents you from making any permanent changes to the car since you don’t own it outright.

After leasing a car, your mileage is limited to a set amount ranging from 12,000 to 15,000 miles a year. Any miles over the pre-agreed mileage limit are paid for at the end of the term. This is because payments can add up quickly when you add excess wear charges, making a car lease potentially more expensive than buying.

Discover More at Mercedes-Benz of Augusta

Whether you prefer leasing or buying a car, Mercedes-Benz of Augusta can help make your dream a reality. We offer car loan and finance options with competitive rates and flexible terms. Contact us at Mercedes-Benz of Augusta, Augusta, GA, for details on our financing options.