Should I Buy or Lease My Mercedes-Benz?

two hands signing documents

Are you in the market for a luxurious new Mercedes-Benz vehicle? There are plenty of factors to consider, such as cargo space, fuel economy, and safety features. The most vital element to review before finalizing everything, however, is the decision to buy or lease. While there are several advantages and drawbacks to each option, auto shoppers near St. Paul can receive the clarity they need with help from the experts at Morrie’s Mercedes-Benz of St. Paul! Take a look at the detailed table below to better understand the various pros and cons of buying or leasing your next Mercedes-Benz vehicle.

Buying

Leasing

Pros:
  • You own the vehicle
  • There are no mileage restrictions
  • The vehicle is yours to customize however you see fit
  • You can sell or trade it whenever you want
  • Gain equity
  • Typically lower payments/down payments
  • Can drive a newer model more frequently
  • Normal repairs are generally covered by a warranty
  • Easy to return after lease
Cons:
  • Large initial down payment
  • Monthly payments and interest on monthly payments are higher
  • Can be a hassle to sell or trade-in
  • You’re responsible for repair costs
  • Can develop negative equity
  • Extra fees if you exceed mileage restrictions
  • Can’t make modifications to the vehicle
  • Responsible for excessive wear and tear fees
  • Costly charges for ending the lease early
  • Can’t build equity

No matter your decision, the financial advisors at Morrie’s Mercedes-Benz of St. Paul are here to help you navigate the leasing or car-buying process from start to finish. Our seasoned team of auto finance specialists have years of experience and will go the extra mile to ensure you drive off our lot near St. Paul in a new Mercedes-Benz vehicle you love. Our professionals will work with you every step of the way to secure the right financing solution for you!

Discover the Best Option for You at our St. Paul Area Mercedes-Benz Dealer

Contact us at Morrie’s Mercedes-Benz of St. Paul to learn more about our available financing and leasing options. Our friendly and knowledgeable finance team can ease all of your concerns and help you decide which option is well-suited to your particular needs and lifestyle.