Leasing is similar to financing the purchase of the car in many ways, but there are some key differences.

Affordability

When leasing a Mercedes-Benz at Mercedes-Benz of Draper you may be able to get more car for less money by leasing.

That’s because a car loan is based on the full price of a new car, while a lease is based on only a percentage of the car’s price. At Mercedes-Benz of Draper we will customize a program to fit your specific needs.

Down payment

If you only have a small down payment saved up (or no down payment), leasing may also be better for you. Many car leases require anywhere from $0 to several thousand dollars up front, though the down payment is negotiable.

Warranty

Many leases last up to four years, which is typically the length of our new car manufacturer warranty.

That means the car is usually covered under warranty for repairs for the duration of the lease.

You will still be required to maintain the car, though, which includes oil changes, tire rotations and recommended Mercedes-Benz maintenance. Failure to properly maintain the vehicle during the lease can result in fees when you turn the car in at the end of the lease. Inquire today about our pre-paid maintenance services!

Technology

If you enjoy having the newest high-tech features, leasing could be the better choice for you. Since you’d be leasing every few years, each new car you lease will have the latest and greatest technology and safety features.

Lease-End

With a leased car, you don’t have to worry about selling the car or getting a good price for your trade-in. When the lease is up, you can simply turn in the car and walk away!

At Mercedes-Benz of Draper, we’ll help you get the most advantageous lease terms available to you.

In addition, you’ll enjoy a variety of options that come with leasing from our dealership.

Exchange

Exchange your Mercedes-Benz for a new Mercedes-Benz of your choice.

Extend

You may be able to extend your current Mercedes-Benz lease up to 6 months*.

Purchase

Purchase or re-finance your existing Mercedes-Benz.**

Return

Make arrangements with Mercedes-Benz of Draper for assistance with your Vehicle Inspection.

For additional information regarding your lease-end options, please visit our resource-filled Lease-End page or contact us at (801) 222-4400.

* Subject to credit approval on your current Mercedes-Benz Financial lease only.
** Subject to credit approval.

Capitalized Cost.

This is the agreed-upon price for the car.

Residual Value.

This is the official estimate of what the car will be worth at the end of a lease term.

It’s calculated as a percentage of the car’s original MSRP (Manufacturer’s Suggested Retail Price), then converted to a dollar figure.

Money Factor

The money factor—also called the lease rate, lease factor, or factor—is essentially the same as the annual percentage rate (APR) in a conventional loan but is expressed as a small decimal fraction.

This helps determine the monthly lease payment.

Term

The term or length of a lease is usually stated in months. A 36-month lease is typical.

Mileage Allowance

The mileage allowance is how many miles the lease allows you to travel without penalty.

It is usually specified as miles per year, typically 10,000 to 15,000. You can always purchase additional miles during your lease and add them to your payment. But if you sign a contract for high miles and don’t use them, you can’t get a refund.

GAP

Designed to give you peace of mind, our GAP Waiver will cover the difference between the insurance proceeds and the balance owed to Mercedes-Benz Financial Services, less any deductible, if your leased Mercedes-Benz is declared a total loss (due to accident, theft, etc.).