Mercedes Lease Deals
In 1886, Karl Benz patented the Benz Patent-Motorwagen, a very different creature from the Mercedes we know today. It’s a completely open motor car that very little resembles anything like the automobiles of today. Despite its primitive design, it is almost universally considered the very first “car” in the world. That was a long time ago and the Mercedes brand has come a very long way from that original “motorwagen.”
There are many different kinds of Mercedes to own, from sports cars, to luxury sedans, to the world’s finest SUVs and convertibles. One thing that you almost always associate with the name Mercedes is quality and luxury. Here are a few of the top models of Mercedes
Unfortunately for some buyers, another thing associated with the name “Mercedes” is a hefty price tag. The motto of the manufacturer is “The Best or Nothing,” and Mercedes most certainly doesn’t produce nothing. They produce the best. So if you buy OR lease one of these cars, you’re going to pay a bit more than you do for the average car. To those who love the name Mercedes, the price is always worth it.
The Rewards of Leasing a Mercedes
Leasing has become such a popular option that even those who can afford to buy might make the level-headed decision to lease instead. Whether you’re considering a lease out of necessity or because it makes good sense for your situation, there is plenty to love about leasing a Mercedes-Benz class. Not only do you get one of the world’s finest luxury cars, but you’re also going to save a ton of money in the short-term for making the decision.
Mercedes lease benefits
1. First of all, for some people, it means they’re going to be able to drive a Mercedes for the next couple of years instead of never. Leasing may be the only option unless you can afford an outrageous down payment and monthly payment on an expensive class of Mercedes. If you can afford to buy but know it would strain your budget, then leasing is going to free up so much money in the short-term that you can take care of other expenses instead of paying the extra money to buy. At the end of the lease, you always have the option to buy or just return it and move onto another class of Mercedes.
2. Driving many different Mercedes classes over a lifetime is an impossibility for the average buyer. If you buy one, you’re going to be driving that car for more than a decade with little other option. With leasing, it’s not the same. You can commit to only a couple of years on a lease and then be free to test out other kinds of Mercedes. Many Mercedes lovers lease so that they can test out the different brands. A Mercedes is a serious investment. Being able to drive a few different varieties before committing to buying is a great advantage of leasing.
3. Repairs on a Mercedes can mount up and cause horrible financial difficulty. While a Mercedes is generally a reliable car, it’s still going to need basic maintenance and repairs over the years. If you are leasing the Mercedes, then you can rest easy about the repairs. They’ll be covered by warranty.
4. Tax deductions on a leased car can amount to a large sum of money over the course of a lease. Every year of the lease, you can count off the depreciated value of the Mercedes and get that back on your taxes. For businesses, this is a definite plus of leasing and just about any business that needs cars should lease because of the tax benefits.
This is just the beginning of all the advantages of leasing a Mercedes. There are many more. A dealer will sit down with you and let you know how leasing can benefit you over the short-term and long-term. For most scenarios, leasing is a short-term benefit, not a long-term one. If your financial situation matches the terms of the lease, an honest dealership is more than happy to tell you which option is better for you.
One thing to keep in mind is that leasing is going to require excellent credit. It’s generally tougher to get approved for financing on a lease than a purchase. So make sure that going into the dealership, you have the credit required to lease. If you do, it’s always an honor to drive away in a brand new Mercedes-Benz or even an older model. These are truly historic cars that trace their roots all the way back to the very beginning of the automobile in the world.
Even though it’s not the best option for everyone, many people find that when they look into leasing a car that it has a lot more advantages than actually buying one. For one thing, it can be a whole lot more affordable. If you look at the purchase price of new cars nowadays, you might be shocked by how much prices have gone up over the years. Now, it can be hard to afford a nice car when you’re on a budget. With leasing, since the monthly payments are typically a whole lot cheaper, you can actually make driving a nice car something affordable.
You won’t just save money on your monthly payments, either. Many drivers find that they are able to save a lot on repairs. For one thing, there is a good chance that you will never find yourself dealing with serious repair issues in the first place, since you will usually turn the car back in before it becomes aged enough that repairs will be a necessity. Plus, since the majority of new leased cars are still under a warranty through the manufacturer, you can rely on the warranty to pay for any repairs that do have to be done.
What Does a Mercedes Car Lease Involve?
Even though leasing is a pretty straightforward process, there are a few different aspects that you are going to want to know about. Listed below are some of these things. Taking a look at them can help you ensure that you understand everything that you are getting yourself into when you do sign a lease contract.
Your Payments Reflect the Mercedes Car Leases’ Value
Higher-value cars come with higher monthly loan payments than more affordable cars. If you’re trying to keep your payments to a minimum, you are going to want to look at a car that has a lower sale price.
Higher Residual Percent Saves You Money on a Mercedes Lease Deal
Because the car that you lease is going to depreciate in value while you are driving it, you will be charged for this during your Mercedes lease deal. This is known as a residual value percent, and the cost will be wrapped up with your monthly payment. If you are trying to minimize what you have to pay each month, you’ll want to find a higher residual percentage.
Understand Your Set Miles
Unlike if you buy a car, you will be given a certain mileage allotment when you Mercedes lease deal. Make sure that you are aware of the number of miles that you can drive the car each month without being penalized. Also, be aware that if you are penalized for going over the mileage, it’s generally charged in the form of a per-mile fee. You can check your contract or ask about the cost of this fee before you sign the dotted line.
Expect a Disposition Fee
Even though leasing is an affordable option for many, you do have to be aware of the disposition fee that drivers are typically charged at the time that they take the car back. If you’re budgeting for it, be aware that the cost is usually somewhere in the range of $300 to $500.
Understand What Money Factor Means
Similar to an annual percentage rate, the interest that you are charged during your lease term is called a money factor or lease factor. To save the most money, try to negotiate the lowest lease factor that you can.
Is it Better to Lease a Mercedes or Buy a Car?
Since everyone has different needs and budgets, some people are better off leasing while others are better off buying. Because of its many benefits, however, you may find that leasing is by far the best and most affordable option for you. It’s still important for you to read the contract carefully and to ensure that you understand everything that’s involved before you commit to a Mercedes lease, however.
You Won’t Own the Car
It is important to understand that with a car lease, the car that you will be driving will not actually be yours. You can’t sell it as you would if you owned it. You also can’t mortgage it.
Leasing Cuts Down Up-Front Costs
If you are concerned about the up-front costs that you are going to have to cough up when acquiring a vehicle, you’ll probably be happy to know that you shouldn’t have to come up with nearly as much money if you choose to lease. This is because, even though you’ll usually have to pay a security deposit and perhaps an acquisition fee and other relatively affordably priced rates and taxes, you will not have to pay a down payment. Since this is usually a requirement when buying a car, leasing can be more affordable when you’re talking about up-front costs.
No Need to Worry About Selling Car Mercedes Leases
In many cases, selling a car — and getting a good price for it — is not as easy as a lot of people think. It’s also imperative for you to keep the car perfectly maintained and to keep records of doing so if you want to be able to sell it. Those who choose to lease do not later have to worry about finding someone who will purchase the car when they no longer want to drive it.
When those who have financed vehicles make their final payments on their loans, they then receive the car’s title and full ownership rights. This isn’t what happens when you make your last lease payment, though. Instead, you’ll need to schedule a time to turn in the vehicle. It will not automatically become yours as a car that was financed for purchase would be. However, if you are thinking about buying the car, you should know that this option will probably be available for you when your Mercedes lease ends.