You are nearing the end of your lease from Mercedes-Benz of Rochester. Now you have some decisions to make: Do I feed my automotive ADD and exchange it for another leased Mercedes-Benz? Do I turn it back in and walk away? Or thirdly, What if it has been a good car for you? So good, in fact, that it begs the question: should I give it a go and just go ahead and buy it?

These are all very good questions and ones you should be asking yourself? In this next story, we'll try to give you the help to make the best decision for you.

The options:

Exchange, Walk away or Pay. The choice is yours.

  1. You can buy the vehicle for less than it's actually worth

    If the lease is over and the buyout price is lower than what the car is worth on the open market, it might be a good bet to buy the car outright. According to some, it's like getting a discount on a pre-owned car. It is an art to guess, and that's what it truly is: a guess as to what the car will be worth at the end of a two or three-year lease. But that residual value is what the lease company uses to figure out what to charge you each month for the time your lease is active. In a nutshell, the new-car price minus the residual value divided by the number of months of the lease equals your monthly payment.

    If the leasing company over-estimated the value, the monthly payments will be lower than they should be. If they under-estimated, you can buy the car for less than what it would sell for on the open market. In which case, you are buying a used car, at a good price, that you have taken care of yourself.

  2. It's a good car and you have taken care of it

    In the three years you have had the car in your possession, you have maintained it to the exact specifications outlined by Mercedes-Benz. So unlike some vehicles that you find on pre-owned car lots, you have a car in which you actually know what has happened to it. 

  3. The car looks a bit overworked

    On the other hand, if you haven't taken good care of the vehicle, you may find that getting it back into tip-top shape will end up costing you more than what you would pay to buy it outright. If you drove your lease vehicle using your best hoonigan skills, as seen in films like "Baby Driver" or "Gone in 60 Seconds," you'll surely face the penalty costs of taking care of all the little dings and scratches that may have occurred during the lease term. You can avoid these costs by buying the car outright. 

  4. You exceeded your mileage allotment.

    The mileage limits are set to help maintain the Residual Value of the leased Mercedes-Benz. Exceeding your miles-allowed-per-year could result in substantial post-leasing fees ranging as high as .25 cents per mile. That amount can result in a $250 bite for every 1,000 miles driven over your mileage limit. You have been warned!

  5. You want to avoid the hassles of car shopping.

    Not many people go to the car dealership for sport. Well, there may be a few of you who do, but that's a story for another time.

    The steps a buyer will encounter when they do will usually involve several hours of paperwork. There's more time spent searching through the car lots, followed by a chase to find the exact model desired in just the right color and with all the proper features. Finally, there's the test drive. 

Why subject yourself to all that extra work and effort when the vehicle you want is the one you might already be in? That's why it's always a good idea to discuss the end of lease options available to you from the experts at Mercedes-Benz of Rochester.


>> 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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