If you always want to drive the newest and most exciting Mercedes-Benz models, a Mercedes-Benz lease may be right for you. Learn more about common leasing terms below, then talk to our finance team at Mercedes-Benz of Lynnwood about applying for a lease today!
Depreciation
During the term of a car loan, your monthly payment covers a small part of the equity of the car. During a lease, on the other hand, your monthly payment covers the depreciation — the loss in value the car undergoes while being driven. Most leases are closed-end, where you don’t need to pay the difference between the expected depreciation and the actual depreciation, but with open-end leases you are responsible for it at the end of the term.
Mileage Allowances
Your lessor will give you a mileage allowance, which covers how far the car can be driven during the lease. Any miles driven over the allowance will lead to an additional fee for the extra depreciation of the car. You may be offered a choice between a standard mileage and a cheaper low-mileage option.
Early Termination
Early termination covers any early end to the lease and will usually come with an early termination fee. This covers if you get into a serious accident, but also includes simply wanting to end your lease early. Calculate the early termination fee against the rest of your lease, as it may be cheaper to finish it.
Lease from Mercedes-Benz of Lynnwood
Leasing is a great way to always be behind the wheel of our latest, most powerful cars. Come into Mercedes-Benz of Lynnwood and take a new Mercedes-Benz car for a test drive, then talk to our finance team about applying for a lease today!
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