Questions – Financing Steps and FAQ

December 30th, 2019 by

Financing at Mercedes-Benz of Rocklin

Questions – Financing Steps and FAQ

Are You Ready to Buy Your Next New Vehicle?

Getting a new vehicle is always exciting, but you also have some decisions to make. Some of those decisions are about color, size, and options. Other decisions are about how you're going to fund your purchase—but we’ll help you work through your options and choose the one that's best for you.

Learn the details of both leasing and financing below, and when you're ready to buy a new vehicle, come in and see us at Mercedes-Benz of Rocklin in Rocklin, CA. We’ll assist you with a lease or loan so you can get the help you need to enjoy your new vehicle.

What’s the Difference Between a Vehicle Lease and a Loan?

An auto lease is different from a loan. When you get a loan, you actually purchase the vehicle and pay off the purchase amount over time. First, we’ll decide on the set number of months for the term of the loan. Then, you’ll make monthly payments covering principal and interest until you pay the vehicle off. So, if you agree on a 72-month loan, as long as you make all your payments as scheduled, you’ll pay off the vehicle in 72 months.

The key difference between a lease and a loan is that you won’t own the vehicle after making payments with a lease. Leasing is similar to renting: typically you’ll make a down payment and monthly payments, but those payments won’t be as high as they would be if you were purchasing. And at the end of the lease, you’ll have the option of buying the vehicle or trading it in for something else.

On the other hand, a loan includes a down payment and monthly payments, but you automatically own the vehicle after paying it off. A loan is the best choice for those looking to keep their vehicle for the long haul—or those who travel extensively. Lease options often include mileage limits, whereas financing/loan options do not.

So, if you’re thinking about getting a vehicle lease or loan, you’re in the right place. We’ll help you find a lease that works for your lifestyle or put you in touch with our finance department so you can get a loan.

Take the Right Steps for Your Next Purchase

Before you come by for an auto lease or loan, make sure you’re prepared. Check your credit score to see where you stand financially, so you can address any issues you find ahead of time—having a good credit score will help you get a lower interest rate! Additionally, be sure you have proper identification and proof of income so we can set you up with the right lease or loan for you. Once you’ve taken these necessary steps, securing your new vehicle through Mercedes-Benz Finance is simple.

Let Us Answer Your Finance Questions

At Mercedes-Benz of Rocklin, we want to be sure you find the Mercedes-Benz vehicle of your dreams at a price that fits your budget. So, whether you choose to lease or buy, we have an exceptional selection of vehicles featuring advanced technology, elegant styling, and plush comfort for all. Even better, we have knowledgeable sales specialists to help you find the perfect fit.

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