Buying vs. Leasing – What’s the Difference?

Benefits of Buying

Many Stamford-area drivers choose to finance their vehicle. Financing your Mercedes-Benz offers a variety of benefits, including:

  • Ownership: Your monthly payments will help you build equity over time. Whenever you finish paying off your new vehicle (usually in increments of 36, 48, or 60 months) — you’ll own your car outright.
  • Customization: When you own your car, you’re free to make changes and customizations as you see fit. Feel free to add a custom paint job, put in a new stereo, or add on Mercedes-Benz performance parts.
Beautiful young couple signs documents

 

Car Salesman Speaking with Couple

Benefits of Leasing

If you don’t decide to finance your vehicle, you have the option to lease. A lease means you’ll borrow a car for a designated period of time with the option to purchase or return it when your terms are up. The advantages of leasing include:

  • Affordability: Leases generally have a lower down payment as well as lower monthly payments. This means you’re able to drive a nice vehicle while keeping your budget in mind.
  • Newest Features: Lease typically are available with shorter terms than financing plans — a lease usually lasts 24 or 36 months. Once your lease ends, you can simply bring it in an lease a new vehicle with the latest technologies and features (or pay off the rest of your current lease if you choose to buy).

Explore Your Finance Options at Mercedes-Benz of Greenwich

Which is the better option for your next car? Visit Mercedes-Benz of Greenwich to take a test drive and chat with our finance staff about the differences between financing and leasing, or other essential information like what comprehensive insurance covers. Contact us to learn more or visit our showroom in Greenwich.

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