Your next great Mercedes-Benz lease is waiting for you here at Fields Motorcars in Lakeland. We have more than just performance luxury vehicles at our dealership; we also have a team of experts ready to guide you through every step of the leasing process. Today, we’re sharing our top tools and resources designed to make leasing easy to understand and stress-free.
Common Lease Terms
The more you know about the leasing process, the easier it will be to find your next great ride. Here are some common leasing terms you'll want to check out before your next appointment:
- MSRP. MSRP stands for "Manufacturer Suggested Retail Price." This is usually where a dealership begins its pricing, but there is often room for negotiation and deals.
- Term. A term refers to the length of a lease, which is how long you’ll have a vehicle in your possession. Typical lease terms are 24, 36, 48, or 60 months, so make sure you know which one is best for your driving needs.
- Termination fee. If you decide to end your lease early, there will likely be a termination fee. It’s important to consider the overall cost of an early return versus finishing your lease to make sure it’s the right choice for you.
- Allowable mileage. When you lease a vehicle, you'll want to determine how many miles you can manage every year. The average is about 12,000 miles per year, with a cost of about 15 cents per mile over. However, you can always ask for a mileage extension, if necessary.
- Gap insurance. Your insurance may not cover the entire cost if your lease is totaled or stolen. Gap insurance, or guaranteed auto protection, means you’ll be protected in the event of an accident.
For more information on Mercedes-Benz lease options and support, make Fields Motorcars your first stop. Schedule your next test drive today.
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