Should I Buy or Lease?

When you’re looking to get behind the wheel of a new luxury Mercedes-Benz, you might be asking what the best financial path is. You’ll often find the decision between a lease vs. buying depends on your wants, needs, and situation, as both offer their own benefits. Let’s take a look at financing and leasing, so you know which is the right option for you before you visit Mercedes-Benz of North Haven near Branford.

Benefits of Buying

• No Mileage Restrictions: If you do a lot of traveling around the Cheshire and Southington areas, you may want to consider buying. Leased vehicles can come with mileage restrictions, which you won’t have to worry about when you make a vehicle your own.
• Total Ownership: When you purchase a vehicle, it’s completely yours to do with as you will. No matter how you want to modify your vehicle, you’re free to do so.
• Customization: Want to make your new vehicle stand out among the crowd? When you own your vehicle, you can update it with Mercedes-Benz accessories, add new paint, and make it your dream car.
• Ability to Sell: Since you’re not locked into a lease agreement, you can choose to sell your vehicle at any time.
• Financing Options: While leasing isn’t a difficult process, car financing can be more straightforward and open to those without perfect, or great, credit scores. Buying also gives you the option down to the road of refinancing your loan to lower your interest rate and monthly payments.
• Less Cost Over Time: While buying a new car is initially more expensive, it can become more affordable as you work towards paying off your loan. With total ownership, the vehicle becomes less expensive to own the longer you have it.

Benefits of Leasing

• Lower Payments: Whether it’s monthly payments or down payments, when you lease a vehicle, those costs will be much lower than buying.
• Less Sales Tax: In most states, leasing a vehicle drastically lowers sales tax. You may only have to pay tax on the amount you put forth for the down payment and for the monthly payments, depending on where you live.
• Trade-Ins: When your lease agreement is over, you don’t have to hassle with selling a vehicle. Instead, head to your local North Haven Mercedes-Benz dealership, return your leased vehicle, pay any fees, and pick your lease model to drive away in.
• Great Coverage: Warranty coverage and maintenance are a breeze when leasing. Any issue that pops up will be covered under your warranty, as long as you don’t go over the mileage limit.
• Options: When leasing, you’re able to rotate models every few years to keep the latest tech at your fingertips, from entertainment features to safety systems like PRESAFE®.

Explore Leasing and Financing Options at Mercedes-Benz of North Haven

The decision on whether to lease vs. buying is a personal one which will be different for everyone. If you want to talk over your decision with a financial professional, the experts at the Mercedes-Benz of North Haven finance center are here to help!