Reasons to Lease Your Next Mercedes-Benz

There are numerous benefits to owning a luxury vehicle. You get to enjoy the latest engineering and safety technology along with a refined ride like none other. But did you know that leasing a luxury car has several perks of its own? If you’re in the market for a new Mercedes-Benz, consider the following reasons to opt for a lease instead:

Lower Monthly Payments

With a lease, you only pay for the portion of the car that you will be using over the course of your contract. This generally works out to be about 50 to 60 percent of the vehicle’s retail price. Naturally, only being responsible for half a luxury car’s sticker price translates to more affordable payments, which is nice when you’re trying to come in under budget.

More Car for the Money

Since you’re only responsible for a portion of the car’s MSRP, you can afford to drive a higher-end luxury vehicle. For example, if you were to buy the entry-level CLA 250 luxury car at the starting price of $32,050 with a 3.11-percent interest rate and 36-month loan period, your monthly payment would turn out to be about $934. By opting to lease instead, you can upgrade to the new C 300 sport sedan and only pay $399 a month for 36 months. This allows you to enjoy upgraded and even optional features for less than the cost of a more basic model.

No Worries About Maintenance or Repairs

When you lease a vehicle, you never have to worry about maintenance or repair costs. Leased vehicles are under factory warranty coverage, and most lease terms even cover things like oil changes and brake replacement. All you have to pay for is the fuel. There’s peace of mind in knowing you never have to fork over cash for an unexpected repair or worry about budgeting for unexpected maintenance costs.

You May Qualify for a Tax Deduction

Depending on the nature of your work, you may be able to deduct some or all of your lease payments on your taxes. This generally works when you spend 60 percent of the miles traveled in your car on business and 40 percent for personal use. If you’re an entrepreneur or you’re using the lease as a company car, you may be able to take advantage of the tax code, although you will want to consult an accountant to make sure you qualify.

You Only Pay for the Depreciation

Buying a new car means having it depreciate a tremendous amount from the moment it’s driven off the lot. When you lease, however, your payment is calculated based on the car’s anticipated value at the end of the lease. You’re only responsible for the costs associated with that depreciation. When you lease a luxury car like a Mercedes-Benz, which tends to depreciate much less than non-luxury vehicles, you end up paying a more affordable monthly payment than you might think.

Whether you choose to buy or lease depends on your personal circumstances, but with so many benefits to leasing a luxury car, it’s worth a second look.