While automotive sales has largely rebounded because of revitalized interest with new models applying fresh features and technologies as well as revised pricing structures and flexible model lineups, purchasing or leasing a new car is still a very big deal for the average consumer. For first-time buyers or those who are just starting to think of how leasing and financing work, here’s some solid info for you.
A car lease is basically just like any other lease—it’s a contract to pay for use or ownership of something over a set period of time. A lease is a good way to get a car without paying as much as you would if you actually purchased one via financing. In addition, you could just lease a different, newer model once your lease is done. On top of that, you can also avail of car lease specials from the manufacturers themselves or through third-party dealers. Lease offers, like the ones MB USA offers until February 28, let you avail of considerable discounts off the standard or common lease prices so you save big while still getting the car you want. You just won’t own it.
Financing, on the other hand, entails a loan so you could own a car outright. Standard financing involves paying a certain amount every month until you pay off the entire loan amount. There’s also balloon financing, such as the one offered by Mercedes-Benz, that does away with monthly payments and instead involves a large payment at the end of the loan period.
Owning a Mercedes-Benz or any other luxury car will require tight budgeting and a careful analysis of payment options. In the end, it’s all up to you, but make sure you think thoroughly.