For some people, driving a Mercedes-Benz symbolizes class and affluence. For others, it simply means driving an automobile make that's recognized for safety and style. Whatever your motivation for considering leasing a pre-owned Mercedes-Benz, information is available to help you understand your options before you go to the dealership. Mercedes-Benz offers several options for its First Class Lease program on pre-owned cars.
Mercedes-Benz offers a lease option for cars no more than 8 years old. That means if you plan to lease a pre-owned Mercedes in 2011, you can select any model from 2003 forward. You may even find a 2011 model that has already been purchased and returned. Several models are available; visit the Mercedes-Benz website (see Resources) for images of cars for several years.
Your options for the length of a Mercedes pre-owned lease term range from 24 months to 60 months, or two to five years. Take into consideration your transportation needs and whether you anticipate wanting to renew the lease or select another car in two or three years.
At the end of the lease term you choose, you have to decide to return the car, renegotiate the lease conditions and extend the lease for another 12 months, add months to your current lease agreement or buy the car. If you are unsure, ask the leasing consultant for advice, based on factors such as cost, current and future models that may become available and your driving habits.
You can pay your entire lease cost in one payment if you choose. Suppose you want to lease a 1-year-old Mercedes-Benz for 24 months at a monthly cost of $500. You have the option to pay $12,000 up front, saving money on interest charges. This arrangement also relieves you of having to remember payment dates.
In some cases a security deposit may be required, though this isn't a standard Mercedes-Benz practice. If you are required to pay a security deposit, you can choose to have the deposit spread over 10 months. When your lease term expires, you can ask for a refund of your security deposit payments or have the total amount applied to your next Mercedes lease.
You are responsible for insuring your leased car -- the monthly lease amount does not include insurance coverage. If you want to reduce your insurance premiums, you can increase the deductible amount on your policy. If you have an accident, though, your cash outlay will be higher. Mercedes also sells gap insurance on leased cars. With gap coverage, if you wreck your Mercedes or someone steals it, and it's considered a total loss, you don't have to pay for a vehicle you can't drive or one you don't have.
