Should I Lease or Buy?
If you are in the market for a new vehicle, you may be wondering about financing options. Is it in your best interest to lease your next vehicle or purchase it? The decision whether to lease or buy comes down to personal preference and driving habits. The experts at Mercedes-Benz of Rocklin are here to help you make the right decision. Explore the benefits of leasing and buying below before heading to the dealership.
The Basics of Buying
When you opt to buy your vehicle, you are free to drive it and customize it as you see fit. Feel free to change the paint color, swap out the stereo, or upgrade your rims. Other benefits of buying include:
You can drive as many miles as you please without worrying about overage costs.
You can modify your vehicle at any time.
Once the vehicle is paid off, you no longer have to factor monthly payments into your budget.
There’s no need to worry about excessive wear and tear.
Conversely, there are some downsides to financing your vehicle. Monthly payments are typically higher than lease payments. Once your warranty expires, any maintenance costs are up to you to cover.
Lower monthly payments are just one of the many reasons that so many people love to lease their vehicles. Leasing has become increasingly popular for its affordability and convenience. Why should you consider leasing?
Payments are usually lower that loan payments, and upfront costs are generally lower as well.
You don’t have to worry about depreciation costs.
Lease terms are often similar to warranty coverage, meaning you typically don’t have to worry about paying for maintenance and repairs.
There are some drawbacks to leasing, however, that should be kept in mind. Leases include mileage limits, and you can be penalized for going over those limits. You will also be responsible for excessive wear and tear to the vehicle. Additionally, you are not able to modify the vehicle, as it must be returned in sellable condition.
Visit Mercedes-Benz of Rocklin Today
Once you have found your perfect vehicle, let our finance experts help you find the most beneficial financing option. For more information, be sure to contact us today at your convenience. We look forward to assisting you in finding the car of your dreams.