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Should I Buy or Lease a Car?

Woman shaking mans hand over a car contract clipboard with car keys
You’re not alone if you’re having your own leasing vs. buying debate. Lots of Mercedes-Benz of White Plains drivers have been in your shoes, asking us, “Should I buy or lease a car?” Fortunately, our finance department has been able to help them and many other customers to decide which is better for them. Read the guide below to help you decide.

Should I Buy or Lease a Car in White Plains?

When a customer asks us, “Should I buy or lease?”, we’ll sit down with them and go over what their financial needs are. Generally, leasing saves you money upfront, while buying may save you in the long run. So, it’s a good idea to figure out your budget – do you have the immediate budget for a sizable down payment, or are your finances more conducive to spreading out an expense over time?

Leasing vs. Buying – Financing Advantages

  • No Mileage Restrictions: Buying may be right for you if you do a lot of traveling outside the Scarsdale area.
  • Total Ownership: You have equity in your car because you own it.
  • Customization: There are no restrictions on how you customize a car that you own.
  • Ability to Sell: You can sell your vehicle whenever you choose.
  • Financing Options: Financing is usually easier and more accessible when buying.
  • Less Cost Over Time: Buying a used car and paying it off fairly quickly can cost less over time than leasing a new car.

Leasing vs. Buying – Leasing Advantages

  • Lower Payments: This is the one thing about leasing that seems to be most appealing to Purchase drivers.
  • Lower Sales Tax: In NY, you only pay sales tax on your monthly payment, not the total value of the car.
  • Trade-Ins: It’s easy to swap your car at the end of your lease for a new one.
  • Great Coverage: Leased automobiles are covered by warranty as long as you stay under the mileage limit.
  • Options: Because you’ll be in a brand-new vehicle every couple of years, you’ll always have the latest feature options at your disposal.

Talk to Mercedes-Benz of White Plains About Your Options

Our finance department has helped numerous customers figure out whether buying or leasing is right for them. We’d be happy to help you, too. And, if you’d like to learn more, read about the Mercedes-Benz Lease Pull-Ahead Program and why you should return your lease to us, even if you didn’t lease it here. We’re just down the road from Armonk. So, drop by or contact us today.


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