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Mercedes-Benz EQC - Lease or Finance?

2220 Views 3 Replies 4 Participants Last post by  homerrichards
I was talking to my friend the other day about the EQC and how he's planning on getting one when they become available. But he's not sure where he should lease or finance the EQC.

Normally I'd say that financing is the way to go because I always do that with my cars. But in this case leasing might make a lot more sense since it's a brand new car with brand new technology for Mercedes.

I found this article from Consumer Reports that's pretty convincing on why leasing is the best choice:

For most American car shoppers interested in a pure electric vehicle (EV), the technology can present a host of unfamiliar considerations. For that reason, CR believes leasing, rather than buying, makes the most sense. Here are a few reasons:

Newest tech. Leases have limited ownership periods, usually between two and four years, giving shoppers access to the latest technology because they can turn in the EV at the end of the lease for an upgrade. EV owners are more likely to be technology enthusiasts than the typical new-car buyer is, says Ed Kim, vice president of industry analysis at automotive consulting firm AutoPacific, so they’ll want the freshest tech. As with almost any lease, payments are lower than a regular monthly payment for a vehicle purchase.

Tax credits. Another appeal is the availability of tax credits, whether federal or state. Still, shoppers who choose to lease an EV need to pay particular attention to those because it’s the leasing company, not the consumer, that’s entitled to the credit, says Mel Yu, a CR auto analyst. “They often pass the credit on to the consumer, and that’s reflected in a reduced cost for the lease,” he says. “But they aren’t required to do this, so shoppers should confirm before signing any paperwork.”

Depreciation. That’s the value a car loses over time. It’s a factor for any car buyer, but it hits EVs harder. Yu says EVs depreciate faster than regular cars because tax credits effectively lower the original price of the car, but leases typically factor that into the payment equation. “A vehicle usually loses around 50 percent of its value in three years,” says Yu. “Buyers can owe more on their loan than the vehicle is worth.” As with any lease, there are restrictions, such as how many miles can be driven and how much wear and tear can be inflicted.
I'm curious to see what everyone else thinks about this for the EQC. If you're interested or planning on getting one are you leasing or financing?
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I was talking to my friend the other day about the EQC and how he's planning on getting one when they become available. But he's not sure where he should lease or finance the EQC.

Normally I'd say that financing is the way to go because I always do that with my cars. But in this case leasing might make a lot more sense since it's a brand new car with brand new technology for Mercedes.

I found this article from...
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It would depend a lot on your friend's driving habits. If can figure out a lease that makes sense given his anticipated usage.

I have leased 8 Mercedes since 1997. I would particularly consider leasing a new electric vehicle. The technology could advance a lot in 3 or 4 years.
 

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It all depends on your financial situation. If you have the money, then just buy the car since it is more beneficial. But if you don’t have enough money, then leasing a car is the best option. I had a similar situation two years ago. It was my first ever mortgage, and I was too nervous about the whole thing. I decided not to do anything by myself, and that is why I went on the internet to find a solution. After some searching, I was able to find Mortgage Advice Lincoln . They gave me really good advice, and after that, I was able to get a mortgage that suited me the best. You should definitely ask them for a piece of advice, and then I’m sure that you won’t get fooled by anyone.
 

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It all depends on your financial situation. If you have the money, then just buy the car since it is more beneficial. But if you don’t have enough money, then leasing a car is the best option. I had a similar situation two years ago. It was my first ever mortgage, and I was too nervous about the whole thing. I decided not to do anything by myself, and that is why I went on the internet to find a solution. After some searching, I was able to find Steadmond Finance Advice . They gave me really good advice, and after that, I was able to get a mortgage that suited me the best. You should definitely ask them for a piece of advice, and then I’m sure that you won’t get fooled by anyone.
The answer would depend on what is your current situation. Financing is the best option for you if you have enough funds to make it through. However, if you have just barely enough, considering that things need to be considered after having a car such as its maintenance and fuel budget, leasing might be the best for you. There is some pretty good car loan company that can help you in leasing. You will be given enough time to pay so it would be very advantageous on your side.
 
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