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Should I Buy or Lease?

Woman signing a car insurance policy, the agent is holding the document

For many Niagara shoppers, the decision to invest in a luxurious new Mercedes-Benz is an easy one. The harder part comes when you have to ask yourself, “should I buy or lease?” Each finance solution offers its own set of benefits, which we’ll discuss in greater detail below. As you review them, think about your individual driving needs, the parameters of your budget, and what you’re ultimately looking to get from a new vehicle.

Advantages of Buying a Car

  • No Kilometre Restrictions: Does your daily commute take you far outside of Niagara-on-the-Lake? If you tend to rack up kilometres quickly, you’d do well to consider buying your vehicle. Unlike leasing, buying comes with no restrictions as to how many kilometres you can log.
  • Take Full Ownership of Your Car: Many individuals want the satisfaction that comes with knowing their vehicle is 100% theirs to own. This leaves you free to modify your car as you please and adorn it with as many bumper stickers as your heart desires.
  • Customization: If you want to make your SUV more trail-worthy or get some high-performance tires for your sporty coupé, you can do so without worrying about violating any agreements.
  • Freedom to Re-Sell: Should you want to sell your purchased vehicle, you can do so at any time.
  • Financing Options: In some cases, financing can be more a straightforward and achievable solution than leasing. There is also the option to refinance in the future and get a better rate.
  • More Cost-Effective in the Long-Term: Buying a vehicle may prove more expensive initially, but with each loan payment you make, the cost becomes less troublesome. The longer you choose to enjoy total ownership of your vehicle, the less it will cost you.

Advantages of Leasing a Car

  • Lower Payments: Most car-buyers are able to get a lower monthly payment with leasing, and are able to make a smaller down payment to get the vehicle they want.
  • Tax Advantages: In Canada, drivers who are leasing their car may be able to write off a certain amount of the monthly payment as a deductible during tax season.
  • Simple Trade-Ins: At your lease-end, all you need to do is return to Performance Mercedes-Benz or the dealership you’re leasing with, settle any remaining fees, and choose your next vehicle!
  • Warranty Coverage: Servicing and maintaining your vehicle is always a seamless experience when leasing, as you’ll be covered by the warranty for the full lease term – provided you don’t exceed your kilometrage limit over the course of your Pelham commutes.
  • Flexibility: Leasing allows you to enjoy a brand-new model every few years, with the latest available technology and luxury features.

Compare Lease vs. Buying With Our Finance Team

If you’re still struggling to decide between the choice to lease vs. buying your next Mercedes-Benz, stop by our finance centre for one-on-one guidance. Our specialists will get to know you and your unique circumstances, helping them point you toward the right vehicle and the most beneficial finance solution. Contact us to set up an appointment today and apply online to see if you’re pre-qualified! While you’re here, be sure to explore our Mercedes-Benz SUV lease specials, Mercedes-Benz A-Class lease specials, and Mercedes-Benz C-Class lease specialsCurious about whether you can pay off a car loan early? Read our helpful guide!

 

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