All You Need to Know About Leasing a Mercedes-Benz
Greater Options, Fewer Worries:
That’s the beauty of leasing.
At Mercedes-Benz of Draper, leasing allows you to get a brand-new* Mercedes-Benz vehicle, with flexible terms and mileage allowance–giving you plenty of options on making sure every part of the lease fits you best.
Plus, you can feel secure knowing that your investment is protected with Guaranteed Asset Protection (GAP) coverage and Damage Waiver.
How do you know if leasing is right for you?
If you like getting a new vehicle every three years, having lower monthly payments than you would if you owned it, and don’t mind the mileage limits, or the fact that you can’t make any alterations to the car you’re driving, then leasing is the perfect choice for you!
Browse through the sections below to learn more about leasing your Mercedes-Benz
We aim to help you make an informed decision about leasing and congratulate you on your decision to get a Mercedes-Benz: We can’t wait to work with you!
Leasing is similar to financing the purchase of the car in many ways, but there are some key differences.
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.
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.
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!
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.
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!
Learn More About The Lease-End Process at Mercedes-Benz of Draper
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 your Mercedes-Benz for a new Mercedes-Benz of your choice.
You may be able to extend your current Mercedes-Benz lease up to 6 months*.
Purchase or re-finance your existing Mercedes-Benz.**
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.
This is the agreed-upon price for the car.
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.
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.
The term or length of a lease is usually stated in months. A 36-month lease is typical.
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.
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.).
Don’t hesitate in contacting us at (801) 222-4400 or stopping by our state-of-the-art Draper location, where we’ll take the time to explain everything that you need to know about leasing, or financing, your Mercedes-Benz or Sprinter Van.
*Due to their high demand, we sometimes lease out pre-owned low-mileage vehicles.