If you prefer to drive newer, safer, more reliable vehicles, prefer not to pay a considerable down payment every 3-4 years, and also do not drive an excessive amount every year, then a new car lease could be the right choice for you. Leasing is intended for those who prefer to escape the hassle of buying and selling every time they want to get into a new vehicle.
Contrarily, if you like long term relationships with a larger sense of ownership and commitment, then buying may be what’s ideal for you. Car-buying is typically best for those who do not mind driving the same car for more than five years or even until it is no longer suitable for the road.
Knowing the pros, cons, and overall benefits of leasing vs buying a vehicle is important. Be sure to look at potential savings, vehicle ownership, monthly payments, and repair costs when considering the best new car or SUV financing type for you.
When considering vehicle financing, new car ownership absolutely comes with many well-known advantages, most associated with complete ownership of the car or SUV. You may not realize, but, there are also a few great upsides of leasing, as well. It’s imperative to consider all financial aspects including monthly payments, down payment, term length, buyout payments, interest rate, depreciation, and maintenance & repair costs, before making a decision. A careful study of your current financial situation, future needs, and your preference for commitment will likely ensure that you make the ideal choice between leasing and buying a new car or SUV.
Car lease payments are often less expensive compared to auto loan and car financing payments as the standard lease offer is more-or-less renting with the option to buy out at the end of your lease term. Consider when leasing that you’ll need a nice credit score, and will be asked to carry collision and comprehensive insurance, though the same can be said for the lowest rate auto loans. Although it can increase monthly payments, it’s also better to get a model with the features you need or want, as personal satisfaction is often priceless.
Auto leasing often includes regular vehicle maintenance & repair. It is important to remember this when projecting monthly costs of ownership vs leasing. No matter what make and model you choose, mechanic bills are an unpredictable cost that can quickly add up. And for those who aren’t certified auto mechanics with a hydraulic jack and full toolset in the garage, leasing may be the best option for peace of mind.
Generally speaking, a new car or SUV lease saves money in the short term with lower monthly payments, while buying gets you a long term investment, meaning absolute 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 maximum investment on a financed/purchased vehicle, you can pay it off in a shorter term and also avoid excessive wear and mileage.
|Ownership||No Ownership||Pride of Ownership|
|Down Payment||Smaller Down Payment||Larger Down Payment|
|Monthly Payment||Smaller Monthly Payments||Larger Monthly Payments|
|Maintenance & Repair Costs||Typically Included||Not Included|
|Savings/Investment||Short Term Savings||Long Term Investment|
|Finance Term||Approx. 2-4 Years||Approx. 3-6 Years|
|Pre-Owned Vehicles||Not Available||Available|
|Vehicle Customization||Not Available||Available|
|Poor Credit Financing||Not Available||Available|
Mercedes-Benz of Clear Lake knows that choosing the right Mercedes-Benz car and financing option is never easy. Our team of experienced Mercedes-Benz lease and finance specialists are on hand to help you make the right choice. Visit us online, by phone, or in-person at our dealership located near Houston, TX. We look forward to serving you.
Before visiting one of our many dealerships and speaking with one of our certified agents, make sure that you do your research and come prepared with a list of questions so that we can get you into the driver’s seat as soon as possible.
Shop our new online inventory, stop by our showroom, or simply call us at 855-720-4196 and let our team of Mercedes-Benz leasing experts show you why Mercedes-Benz of Clear Lake is where you should lease or buy your new Mercedes-Benz.
Eric Nguyen really made us fell welcome and he is an honest service assistant/technician. Thank you very much. I am so relieved that my car problems are solved.
Stephen was helpful and gave great advice. New facilities are spotless! Enjoyed the drive up and drive in service. No more standing in the heat.
Had my GLB250 in for a repair of the left front wheel due to bumping a curb. The repair was excellent. Looks like the damage never happened. MB personnel were courteous and efficient.
My service adviser, Trent Pham, was very professional and extremely helpful. He made me feel appreciated. I would recommend him to anyone needing Mercedes service.
I had an intermittent service issue where my tire pressure sensor wouldn't connect and showed 92psi. They troubleshoot the problem quickly and I'm going back next month to have it fixed.
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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.