Should I Lease or Finance My New Car?

Key and Pen

Your next Mercedes-Benz is guaranteed to provide luxury and fun-to-drive performance in equal measure. However, when it comes to financing vs. leasing, you might not know which one to pick. Check out the pros and cons of each:

  • Why Lease?
    • Lease payments are usually lower than loan payments.
    • Leasing lets you trade in your car for one with the latest features after your lease term ends.
    • Returning the vehicle at the end of the lease term is simple, but with financing, you’ll have to arrange to sell or trade-in the vehicle.
  • Why Finance?
    • If you want to own your vehicle outright, financing is the best choice.
    • Leases usually have a set mileage restriction. If you plan on putting lots of miles on your next vehicle, leasing might not be viable.
    • Wear and tear can lower your car’s overall value, but you won’t get financially penalized by it while you own the vehicle. With a lease, you need to keep your car in excellent condition, making it an unattractive option for Clarkston, MI families with small children.

Lease or Finance Your New Car near Bloomfield Hills

For more leasing and financing tips, turn to Mercedes-Benz of Bloomfield Hills. We offer limited-time offers on new Mercedes-Benz vehicles, and you can contact us with any questions.

Posted in FAQ, Financing