Should I Buy or Lease?

We offer an impressive selection of new vehicles for you to choose from so you can easily find the right model for your North Canton lifestyle. But, after you’ve found the perfect vehicle, you may be wondering, “Should I buy or lease a car?” and our finance and leasing experts are here to assist.

Truthfully, there are pros and cons to both leasing and financing so it all comes down to what you’re looking for from your vehicle. Fortunately, we go over the pros and cons of both options to help you compare leasing and buying a car. Take a look at our guide for leasing vs. buying today to help you decide which option you should choose for your next vehicle purchase!

Compare Leasing & Buying a Car

There are many aspects to consider when you’re deciding between leasing vs. financing. One option may be better depending on how much you’ll be driving in Massillon, among other factors. Compare the advantages and disadvantages of leasing vs. buying below:

Should I Buy or Lease a Car? – Leasing

Potential Advantages

• Monthly Payments: Leasing a vehicle typically can provide a reduced monthly payment since you’re paying for the vehicle’s depreciation during the lease term among other fees.
• Warranty Coverage: During the ownership of your leased vehicle, you’ll get to enjoy exceptional warranty coverage.
• Avoid Selling Your Vehicle: You can avoid selling your vehicle at the end of your lease because you can simply turn it in and walk away.
• New Vehicle Upgrades: Do you enjoy driving the latest and greatest vehicle around Columbus? Leasing a vehicle will allow you to enjoy a newer model every few years.

Potential Disadvantages

• Mileage Limit: Most vehicle leases have a mileage limit that you’ll want to adhere to.
• Constant Payments: Since you’re leasing your vehicle, you won’t eventually get to own it. This means you’ll always have a constant car payment whenever you have a lease.

Should I Buy or Lease a Car? – Financing

Potential Advantages

• Own Your Vehicle: At the end of your financing contract, you’ll have the opportunity to outright own your vehicle with no monthly payments.
• Trade-In: You can trade in your vehicle at any time when you finance it.
• Add Accessories & Customizations: Most leasing contracts want you to return your vehicle in its original condition. With a vehicle loan, you can add accessories and customizations to your vehicle as you see fit.
• Worry-Free Ownership: Wear and tear can happen to your vehicle and since you’re financing it, you won’t have to worry about repairing dings and dents as you might have to when you return a lease.

Potential Disadvantages

• Monthly Payments: The monthly payments for a vehicle loan are typically higher than the monthly payments for a vehicle lease.
• Depreciation: Financing a vehicle often means you’ll have to worry about depreciation as new vehicles can lose a large amount of their total value in just a few years.

Compare Leasing & Buying a Car at Mercedes-Benz of Canton!

At the end of the day, there’s plenty to enjoy with both leasing and financing. We recommend you visit us in Canton if you’d like our team to further discuss the pros and cons of both options. If you have any questions in the meantime, please connect with us online!