Available Options at the End of a Lease
If you’re trying to decide whether you should buy or lease one of our new Mercedes-Benz cars, you have a lot to think about. When you buy a new vehicle, you’ll own a capital asset, but you’ll be able to get a new automobile every few years when you lease instead. If you lease a car, you’ll have to maintain it in good condition but you’re under no such obligation when you buy a vehicle.
While that’s already a lot to consider, you also need to think about what’ll happen at the end of your contract if you choose to lease an automobile. Knowing this information will help you make the right choice between leasing and buying.
When you lease a car, you won’t be able to trade it in and use the proceeds as a down payment on another vehicle. Although that’s true, you will have some options available to you when your contract expires. First, you can purchase the car you’ve been driving for the past few years. As you’ll see, our Mercedes-Benz finance center near Winchester, MA offers attractive finance offers to former lessees and extended protection plans are typically available for previously leased models.
If you want to get a different luxury vehicle when your lease draws to an end, you can either purchase or lease a new Mercedes-Benz vehicle. Alternatively, you might want to buy a pre-owned premium automobile like a pre-owned Mercedes-Benz SUV.
The final option that’ll be available to you at the end of a lease is to return your leased car and walk away without a vehicle. Just know that if you do this, it may still be a good idea to carry auto insurance to avoid having a gap in coverage that might make car insurance pricey if you need it down the line.
Contact Mercedes-Benz of Burlington for more information about your end-of-lease options now.