If you want to drive newer, safer, more reliable vehicles, not make a sizeable down payment every few years, and also don’t drive an excessive amount of miles every year, then a new car lease should be better for you. Leasing is better for those who prefer to escape the annoyance of selling and buying each time they want to drive a new vehicle.
On the other hand, if you like long term relationships with a greater sense of commitment and ownership, then buying should be what’s right for you. Car-buying is typically best for people who won’t mind driving the same car for over five years or even until it is no longer fit for the freeway.
Knowing the pros, cons, and overall benefits of leasing vs buying a car is critical. Be sure to contemplate monthly payments, vehicle ownership, repair costs, and potential savings when considering the best new car or SUV financing type for you.
When considering vehicle financing, new car or SUV ownership absolutely comes with many advantages, most associated with outright ownership of the vehicle. You may not be aware, but, there are also a few nice advantages to leasing, as well. It’s essential to consider all financial aspects including down payment, monthly payments, term length, buyout payments, interest rate, depreciation, and maintenance & repair costs, before making a decision. A close inspection of your current financial situation, future needs, and your preference for commitment, will likely ensure that you make the best choice between leasing and buying a new car or SUV.
Car lease payments are often less expensive than car financing and loan payments as the typical lease layout is more-or-less renting with the option to purchase at the final payment of your lease term. Consider when leasing that you will need a higher credit score, and will be required to carry collision and comprehensive insurance, although the same can be said for the lower rate auto loans. Although it might add to your monthly payments, it is also best to choose a model with the features you want or need, as personal satisfaction is often priceless.
Auto leasing often includes regular vehicle maintenance & repair. It is important to keep this in mind when calculating monthly costs of ownership vs leasing. Regardless of what make and model you buy, mechanic bills are an unknown cost that can quickly add up. And for those of us who aren’t certified auto mechanics with a hydraulic jack and full toolset in the garage, leasing could be the best option for peace of mind.
In general, a new car lease saves money in the short term with more affordable monthly payments, while buying gets you a long term investment, meaning outright ownership of the value of the car or SUV at the time it is traded, sold, or paid-off. For best value on a lease, avoid lease return fees for terminating the vehicle lease early, going over mileage, or putting on excessive wear and tear. For the best investment on a purchased/financed vehicle, you can pay it off in a shorter term and also avoid excessive wear and mileage.
Lease | Buy | |
New Vehicles | Available | Available |
Pre-Owned Vehicles | Not Available | Available |
Vehicle Customization | Not Available | Available |
Poor Credit Financing | Not Available | Available |
APR % | Credit-Based | Credit-Based |
Ownership | No Ownership | Pride of Ownership |
Down Payment | Smaller Down Payment | Larger Down Payment |
Monthly Payment | Smaller Monthly Payments | Larger Monthly Payments |
Savings/Investment | Short Term Savings | Long Term Investment |
Finance Term | Approx. 2-4 Years | Approx. 3-6 Years |
Maintenance & Repair Costs | Typically Included | Not Included |
Mercedes-Benz of Beverly Hills knows that choosing the right Mercedes-Benz car and financing option is never easy. Our team of experienced Mercedes-Benz lease and finance specialist are on hand to help you make the right choice. Visit us online, by phone, or in-person at our dealership location near Los Angeles, CA. We look forward to serving you.
Shop our new online inventory, stop by our showroom, or simply call us at (855) 534-3654 and let our team of Mercedes-Benz leasing experts show you why Mercedes-Benz of Beverly Hills is where you should lease or buy your new Mercedes-Benz.
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MPG Disclaimer: Based on model year EPA mileage ratings. Use for comparison purposes only. Your actual mileage will vary depending on how you drive and maintain your vehicle. |
Disclaimer:
* While every reasonable effort is made to ensure the accuracy of this information, we are not responsible for any errors or omissions contained on these pages. Please verify any information in question with Mercedes-Benz of Beverly Hills.
New vehicle pricing includes all offers. Tax, Title and Tags not included in vehicle prices shown and must be paid by the purchaser. While great effort is made to ensure the accuracy of the information on this site, errors do occur so please verify information with a customer service rep. This is easily done by calling us at (855) 534-3654 or by visiting us at the dealership.
**With approved credit. Terms may vary. Monthly payments are only estimates derived from the vehicle price with a 72 month term, 4.9% interest and 20% downpayment.
Bluetooth® is a registered mark Bluetooth® SIG, Inc.
Burmester is a registered trademark of Burmester Audiosysteme GmbH, Berlin, Germany.
Base MSRP excludes transportation and handling charges, destination charges, taxes, title, registration, preparation and documentary fees, tags, labor and installation charges, insurance, and optional equipment, products, packages and accessories. Options, model availability and actual dealer price may vary. See dealer for details, costs and terms.
The EPA/DOE Fuel Economy Guide can be downloaded from the government’s fuel economy website at www.fueleconomy.gov.
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(310) 659-2980
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