Our Finance Department wants to ensure that the details of a transaction never get in the way of owning the luxury car of your dreams. Whether you are considering purchasing or leasing a luxury vehicle from Mercedes-Benz of San Antonio, we can provide you with several options to fit your individual needs. If you would like more information about any of our programs, our staff would be more than happy to discuss them with you. To assist you in determining the best program that fits your life style, below is an outline of a few of the available options for our customers.
Standard Purchase
The Standard Purchase is the most straight forward method of financing. However, financing the full amount of a new vehicle is not always the best option for everyone. Consider the following advantages and disadvantages.
Advantages:
- You are building equity through your purchase.
- Once you complete your 48-72 month payment cycle, you have no more payments.
- You are free to sell or trade the vehicle at any time, under your own terms.
- There are no mileage limitations.
- You are free to modify the vehicle any way you want without restrictions.
Disadvantages:
- Higher monthly payments.
- Usually requires a down payment, which can be in the form of cash or a trade-in.
- An important consideration is the depreciation of the vehicles worth.
- Most warranty and maintenance plans do not extend past the typical finance period.
Lease Agreement
If you find yourself trading in your vehicle for a newer model every couple of years, Leasing may be the best option. Instead of financing the total value of a vehicle, you are just paying for the depreciation and use of the vehicle. As with the Traditional Purchase, leasing a vehicle also has its advantages and disadvantages.
Advantages:
- Lower monthly payments and possible tax benefits for business use.
- Little or no down payment is required.
- Vehicle warranty and maintenance plans typically last for the duration of the lease.
- Leasing provides a convenient path to perpetually drive the newest automobiles.
Disdvantages:
- Unlike a purchase, you are not building equity by leasing.
- Early termination of a lease may carry a penalty.
- Leases come with a mileage limitation, which is set during the leasing process. We recommend you get a rough idea of your yearly mileage when considering a lease to help you determine whether this is the best option for you.
