SHOULD I CONSIDER A MERCEDES-BENZ HIGH-MILEAGE LEASE?

Everybody wants to be behind the wheel of a Mercedes-Benz vehicle. As we know, with Mercedes-Benz, it's "the best or nothing." But what if you enjoy driving and leasing a new, modern Mercedes-Benz every two or three years, but with the knowledge that you may exceed the mileage allotment specified in your leasing contract? 

Perhaps you are a candidate for a Mercedes-Benz high-mileage lease.

What's that you may ask? Read on for more information.

One size doesn't fit all

The standard advice that has been doled out for years has been, "if you have plans to drive a lot of miles, perhaps it is a better deal to buy the vehicle from the start." But what happens if high-mileage driving is part of your lifestyle, AND you have severe automotive attention deficit disorder (AADD)? (Don't worry, it's an affliction that we just made up!) Buyers who exceed their limits could be hit with huge over-mileage charges. We're not sure about you, but we don't like last-minute surprises. 

If this case describes you, perhaps you are a candidate for a Mercedes-Benz of Rochester high mileage lease.

What is a Mercedes-Benz high-mileage lease?

A Mercedes-Benz high-mileage lease is tailor-made if you know you will trade your high-mileage car in before paying it off. This type of lease will help you avoid depreciation and the possibility of being upside down on your car loan. But the truth is such a lease is not very well-known, nor is it something widely advertised or even offered as one of the regular menu items at the dealership. Nonetheless, it is easily available and is one viable lease option a high-mileage driver can live with.

As you may be aware, nothing drives a vehicle's value down faster than high mileage. With that in mind, be aware that a person driving a lot will usually end up owing more at the end than the car is worth. That's an unenviable position to be in. If possible, avoid having the money you owe on your outgoing lease be rolled into the new lease. That's called being upside down on your old lease.

Twelve thousand miles isn't etched in stone.

People who lease sometimes think that a mileage allotment of 12,000 miles per year is a Holy Grail number - one that is etched in stone the same way the Ten Commandments were engraved on the tablets. That's not usually the case. Most leases can be adjusted to handle a specific customer's needs, all the way up to 100,000 miles over three years. That type of mileage can come with a substantial price.

By arranging to buy extra mileage at the lease inception, lessees can realize additional savings by purchasing mileage at a lower rate. The increase in payments may be easier to swallow than the concept of turning a high-mileage car in earlier than it would normally have been.
Doing this in advance allows you to purchase miles at a lower cost than at the end of the lease duration. For instance, you can buy them for around ten-cents per mile at lease inception, but they will cost around .25 cents per mile if you wait until the end of the lease to pay the difference. 

How to determine if an extra-miles Mercedes-Benz lease is for you?

The first step in knowing if you are a good candidate for an extra-miles lease is to ask about the numbers from the dealership, or in this case, from Mercedes-Benz Financial Services. According to Mercedes-Benz of Rochester Finance Manager Esther Odland, "Mercedes Finance can work with each customer on a case-by-case basis to find the best solution to get you in the Mercedes-Benz sedan or SUV of your dreams." She has helped execute leases with up to 20,000 miles allowed per year. 

Mercedes-Benz of Rochester can tell you the monthly payments for both a regular and extra miles lease. Then, it's up to you to do the math. Based on your anticipated mileage, you can easily see which is more affordable. 

Within or without the warranty?

One other factor to remember is that purchasing vs. leasing can affect who is paying for warranty repairs. If you drive the car past its warranty, you will be responsible for repairs on a vehicle you don't own. 

There are lots of things to think about as a result of this article and these possibilities. You can get more details and the latest information from the finance experts at Mercedes-Benz of Rochester. Call for an appointment today. 


>> Have a Mercedes-Benz Lease Related Question? Call (507) 322-7150 to Speak with a Lease Specialist at Mercedes-Benz of Rochester <<

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