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Taking out a Mercedes-Benz lease is becoming an increasingly popular alternative to buying one outright. If you’re new to the process of taking out a lease on an automobile, you likely have more than a few questions. After all, leasing is quite different from buying and involves a different process. Here at Fields Motorcars, our team of Mercedes-Benz finance professionals is happy to go over some of the most common questions that we receive about leases.

What is Car Leasing?

Starting with the basics, a car lease can be explained as being similar to a long-term car rental. Unlike financing a car that you will eventually own outright, leasing involves taking out a deal that involves paying for the car’s estimated lost value during the term of the lease.

How Long Do Leases Last?

Most Mercedes-Benz leases last for 36 months, though some are longer or shorter.

What is a Mileage Limit?

One of the most significant differences that comes with leasing is the mileage limit. Signing a lease binds you contractually not to exceed an established mileage limit. Lease agreements can range from 10,000 miles per year to as many as 15,000 miles per year. Whatever the limit, if you exceed it, you will be charged a stated amount per excess mile.

Who is Responsible for the Maintenance?

The leasing company expects the lessee to maintain the leased car carefully. This means following the outlined maintenance schedule in the owner’s manual.

What Happens at the End of a Lease?

When your lease contract comes to an end, you have three options:

  • Return the leased car to our dealership and start a new lease
  • Purchase the leased car
  • Return the leased car and walk away

Our friendly Mercedes-Benz dealers are happy to help you lease a brand-new Mercedes-Benz model. Visit our showroom today!

Categories: Finance