With the new trend of car leasing in the market, individuals are often confused and seem puzzled when they have to make a decision of whether to do Mercedes car leasing or simply buy it. In reality, there is no best answer for it, as it solely depends on the conditions. But before making any decision about what to do, you need to think about these questions:
- Do you want to buy the car and be the owner?
- What is your travel mileage of the year?
- Are you inclined to committing accidents or have pets/children that can cause damage?
- Are you capable of maintaining your car regularly?
But to make it easier for you in making the right decision between leasing and buying the car. Let us discuss each factor in detail.
Owning your Car
If you have a desire to have your car which you own then leasing is not for you. In leasing, you are not the owner, and you never have to worry about the devaluation of your car worth or reselling it after few years. In this particular case, you just have to return the keys to the company and can choose the next car for the lease.
On the other hand, owning your car means that it is one of your personal assets. You can keep it as long as you desire and when you resell it, you get to keep the money. But here is one thing, with years your car value will deteriorate and you will get paid less than the original amount. But with the owning of your car, you have the option to customize it in any way you like.
Maintenance and Warranty
With the leasing, you will get a warranty which will last up to 3 years. It means that the company will cover all the maintenance and replacement of wear and tear items. You will free yourself from facing all of these hassles and paying anything extra for it.
But this will not be the case when you own the car. You will be entirely responsible for all the maintenance and cost associated with it. If you are getting a used vehicle, then it is likely it is prone to repairing as more and more parts need replacement.
In Mercedes car leasing, there is a term of contract hire agreements. In this, you will be required to pay an initial specific amount upfront. After that, you will pay monthly installments till your contract expires. You will then return the car and choose the next one.
In case of owning your car, you will be required to pay a large sum of money and do not require making monthly payments. People then go for the bank loan or hire purchase agreement. But opting for these options means you have to pay more in monthly payments because you will then own the car and have to pay its whole value and do not have to return it.
High value/prestige cars
In Mercedes car leasing, you are not paying the total fee for the car. You are deciding to buy the depreciation at the value of that vehicle for the term you’re using it. It leads to lower monthly leases and can be an affordable way of driving a prestige vehicle. As prestige cars maintain their price properly, the cost of depreciation can be lower or much like that.
Mileage and Fair Wear and Tear
The mileage you will travel, and the amount you will pay for leasing are like two faces of one coin. The more miles you cover the more amounts you have to pay and this point is discussed at the beginning of your lease.
Moreover, when you return your vehicle, it is imperative that it should be in excellent condition. If there is any severe damaged aside from what is stated in the wear and tear contract you will be charged for it.
If you are still not sure about getting Mercedes car leasing, then contact Car Leasing Group. At Car Leasing Group you will get professional guidance and talk through the options available.