Mercedes-Benz Lease-End Options
If you’ve taken advantage of a Mercedes-Benz lease in Cincinnati and Blue Ash, you may be thinking about what to do next. Should you buy your vehicle, or try out a whole other Mercedes-Benz lease? And how does a lease buyout work exactly? These are all great questions, so Mercedes-Benz of Cincinnati covers your Mercedes-Benz lease options below. Find Mercedes-Benz lease specials with us today!
What Are the Mercedes-Benz Lease End Options?
- Return Your Vehicle
- Purchase Your Vehicle
Mercedes-Benz Lease End Options: Returning Your Vehicle
While a lot of people choose a lease buyout, another popular lease option is returning their vehicle, usually for another new Mercedes-Benz vehicle. A lease center like Mercedes-Benz of Cincinnati is designed to make this a simple process. Here’s what to do to get the most out of returning your vehicle for a new one:
- Assess Your Vehicle: Check on any issues your vehicle may have. A credit card check works well here: generally speaking, any cosmetic damages under the size of a credit card won’t be charged. If your vehicle needs repairs, come to a certified Mercedes-Benz service center.
- Schedule a Complimentary Pre-Inspection: Mercedes-Benz lease vehicles come with this complimentary inspection so you and the dealership can catch any issues with the vehicle. Visit www.autovinlive.com/login to schedule online or contact the AutoVIN Call Center at 800-556-2811 for assistance.
- Return Your Vehicle: When you finally return your vehicle, you’ll get a lease end statement that’ll include any fees on the vehicle.
- Choose Your Next Mercedes-Benz Vehicle: There are lots of reasons to get another Mercedes-Benz lease at the end of your lease term. When you get your next SUV lease or an A-Class lease, you’ll get a loyalty reward of up to $500 to cover any repairs on your vehicle.
What is a Lease Buyout? Early Lease Buyout vs. Lease-End Buyout
The second option is to purchase your vehicle. So, what is a lease buyout? It’s not uncommon that a Montgomery driver with a Mercedes-Benz lease decides they love their vehicle and want to buy it! But how does a lease buyout work? The most common type is a Lease-End Buyout, when you pay what the vehicle is worth at the end of the lease. You can also do an Early Lease Buyout, so let’s examine the differences between them:
- Lease-End Buyout: This is the most common option. If you’re happy with your vehicle, it’s had barely any repair issues, and it’s a good value, go ahead and buy it at the end of the lease.
- Early Lease Buyout: What is a lease buyout like when you do it early? This is a less common option, so you should consider the pros and cons of buying vs. leasing before you go ahead. The price for an early lease buyout is determined by what you still owe on the lease, the depreciation of the vehicle since you’ve started the lease, and the residual value on your lease contract.
How to Calculate a Lease Buyout
So, how does a lease buyout work in terms of calculating the value of the vehicle? a Sharonville finance center will take a few things into consideration, so think about the following when you consider how to calculate a lease buyout:
- The residual value, or estimated future value of the vehicle on the lease contract.
- The actual value of the vehicle, according to places like Kelley Blue Book. Use our value your trade tool at Mercedes-Benz of Cincinnati to figure this out.
- Fees and Taxes: Owning a car comes with its own fees and taxes that were previously taken on by the dealership, so think of these when considering how to calculate a lease buyout.
Find a Mercedes-Benz Lease at Mercedes-Benz of Cincinnati!
At Mercedes-Benz of Cincinnati, our mission goes beyond providing Cincinnati drivers with some of the best luxury vehicles available; we also want to help everyone navigate the car market with useful car buying and leasing tips from our finance center. If you have any questions about Mercedes-Benz lease end options and more, contact us today!