What's the Difference Between Lease and Finance?

What’s the Difference Between Lease and Finance?

Can’t decide whether you should lease or finance a new Mercedes-Benz? The team at Mercedes-Benz of Fairfield wants to help you consider the benefits of both options, so you can find out which choice is right for you. Leasing is ideal for drivers who want a temporary option or a lower monthly down payment, but there are also perks to owning the car should you choose to finance. Let’s delve into the details of leasing vs. financing a car in Fairfield, CT before you start browsing our new inventory.

Lease vs. Finance Difference: FAQs

Woman from Norwalk shopping for new Mercedes-Benz

Q: What if I don’t have a lot of money to put down?

A: Leasing a car is a great way to access a more luxe vehicle for less, because this option requires a lower down payment if it requires one at all. Additionally, monthly leasing payments are generally lower than monthly car loan payments. In fact, this is one of the most important things to consider when you’re deciding between leasing vs. financing.

Q: I plan on driving my car for the next several years – should I lease or finance?

A: If you’re the type that drives a car until it’s ready to retire, you’ll want to finance your Mercedes-Benz. You’ll eventually reach the point where you own your vehicle and will no longer have to make payments – then you can either trade in your vehicle or keep on driving it once you’ve gained equity.

Q: If I want the latest advanced tech and features, should I buy or lease?

A: Those who are constantly searching for the best technology available would be better suited by leasing a car. This way, you can play with the latest gadgets and infotainment without worrying about your vehicle becoming outdated. Leases typically last three years or less, so you’ll be able to regularly access the newest features.

Q: Can I customize my car when I lease?

A: When you lease a car in Fairfield, CT, you won’t be able to customize it because it belongs to the dealership. Financing a car gives you the freedom to make any changes as you wish. If you plan on detailing or accessorizing your future Mercedes-Benz, you’ll want to opt for buying instead.

Couple signing paperwork for their new Mercedes-Benz car

Working with Mercedes-Benz finance to purchase a new car

Q: What if I don’t want to deal with the maintenance and repairs?

A: If you don’t want the trouble of dealing with car maintenance, leasing is a great option. Aside from getting regular oil changes, you won’t need to worry about most repairs because your vehicle will be under warranty during the lease period.

Q: If I drive a lot, should I buy or lease my next car?

A: If you log a lot of miles, you’ll want to choose financing. When you’re leasing a vehicle in Fairfield, CT, you’ll need to track your mileage and be sure that you aren’t going over any limits. Although most mileage limits are generous, this restriction could end up being a hassle if you want your driving situation to accommodate your everyday commute as well as the occasional road trip or weekend adventure.

Rely On Mercedes-Benz of Fairfield For Leasing & Financing Assistance

When you’re ready to buy or lease a car in Fairfield, CT, make the trip to our dealership to see your top picks in person. Before stopping by or learning how to buy or lease online, be sure to check out our current special offers. If you have any more questions about leasing or financing, don’t hesitate to contact us at your convenience. We’d be happy to explain the most important lease vs. finance differences in greater detail.

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