If you like to drive newer, safer, more reliable cars, but prefer not commit to a large down payment every 3-4 years, and also do not travel an exorbitant amount every year, then a new car lease should be right for you. Leasing is designed for people who prefer to avert the annoyance of selling and buying every time they want to upgrade to a new car or SUV.
Conversely, if you want long term relationships with a greater sense of ownership and commitment, then buying might be what’s better for you. Car-buying is typically best for those who won’t mind driving the same car or SUV for over five years or even until it’s no longer fit for the highway.
Knowing the pros, cons, and overall benefits of buying vs leasing a car or SUV is important. Be sure to examine factors like potential savings, vehicle ownership, monthly payments, and repair costs when weighing the pros and cons of the right new vehicle financing type for you.
When it comes to vehicle financing, new car or SUV ownership certainly comes along with many advantages, most associated with entire ownership of the car. You may not be aware, but, there are also some great upsides of leasing, as well. It’s important to consider all financial aspects including term length, down payment, monthly payments, buyout payments, interest rate, depreciation, and maintenance & repair costs, before making a decision. A meticulous 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.
Vehicle lease payments are often times less expensive in comparison to car financing and loan payments as the standard lease format is basically renting with the option to purchase at the final payment of your lease term. Keep in mind when leasing that you will need a healthy credit score, and will be asked to carry collision and comprehensive insurance, although the same can be said for the lowest rate auto loans. Though it may add to your monthly payments, it is also wise to select a model with the features you want or need, as personal satisfaction is often priceless.
Auto leases often include regular vehicle maintenance & repair. It’s 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 unpredictable cost that can rapidly add up. And for those of us who are not certified mechanics with a hydraulic jack and full toolset in the garage, leasing can be the ideal option for peace of mind.
In general, a new vehicle lease saves money in the short term with more affordable 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 going over mileage, terminating the vehicle lease early, or putting on excessive wear and tear. For your best 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 Beaumont 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 in Beaumont, 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 855-910-9962 and let our team of Mercedes-Benz leasing experts show you why Mercedes-Benz of Beaumont is where you should lease or buy your new Mercedes-Benz.
Our salesperson went over and above to deliver the car we wanted in a timely fashion, including meeting us 150 miles from the dealership to deliver it. Awesome service.
I had three of my tires to come in alarm at the same time and my navigation system was out of wac.Kristy had the tires checked and they were ok aired up and reset.The TECHNITION dealt with my navigation system which was not responding fast enough for me to make safe turns or exits.The system was updated and everything is back to normal.
Amber and Nguyen are both awesome. Very nice and excellent service I would recommend this dealership and will buy my next car here from them.
I’ve been very happy with both the service and sales team at Mercedes Benz of Beaumont. Kristy in service is great and goes above and beyond for all her customers, as do the other people in the service department. I witnessed all of them taking excellent care of their customers. We’ve also been working with Deborah in sales and she’s wonderful. Very knowledgeable about all the cars and she too goes above and beyond to assist us with whatever we need.
Best service ever always go back for the great people and service all work was done faster expected car was given back in show room condition
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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.