Consider the benefits of our Mercedes-Benz Lease Buyout program

If you've been leasing a Mercedes-Benz, the chances are you've fallen in love with the power, performance and luxury that only Mercedes-Benz can offer. A lease buyout will allow you to buy your Mercedes-Benz before or when your lease contract comes to an end. All you'll have to do is pay the residual value, which is the price that's established at the start of your lease, along with any other fees that are included in your lease agreement.

In order to determine whether a lease buyout makes sense for you, it's a good idea to compare the residual value of your Mercedes-Benz with its actual cash value. If the residual value is more than the actual value, a buyout probably wouldn't be a good idea. But if the contractual residual value is lower than the current actual value of that car, a buyout could be a very good move. You get to start taking ownership in a Mercedes-Benz instead of just making lease payments and you'll be buying a vehicle that you know has been well-maintained and is enjoyable to drive.

Weighing the pros and cons of a buyout vs. a lease return

Ideally, if you're planning to return your Mercedes-Benz, it's best to start the process four months before your lease ends. That will allow you to get a vehicle pre-inspection conducted by a third party so you have time to review the inspection results. You can pay for repairing any wear and tear items before you return your Mercedes-Benz to help minimize extra fees. You can then return your Mercedes-Benz to our dealership and cover any costs related to excess mileage or wear and tear.

It might make more sense to buy out your Mercedes-Benz if you really like it or if you're concerned about having to pay excessive fees when your lease ends.

Choose the timing of your Mercedes-Benz lease buyout

One option is a lease-end buyout that would occur at the end of your lease contract. That's when you would pay the residual value to Mercedes-Benz Financial Services, the leaseholder, to buy the vehicle. You might also need to cover other costs like a purchase option fee, a title transfer fee and any applicable sales tax.

The other option is an early lease buyout. That can be a good idea if you put a lot of miles on your Mercedes-Benz and you're concerned about having to pay substantial fees. It might also be helpful if you've had to do a number of repairs or if your vehicle has been damaged in an accident since either situation will mean you'll have to pay extra fees at the end of your lease. This choice would require you to pay the usual lease-end charges, the remaining lease payments and any other extra fees.

Some reasons why a Mercedes-Benz lease buyout might be the right decision

A lease buyout might be the right choice if you're concerned about paying high mileage fees, or if your Mercedes-Benz has been subjected to a lot of expensive wear and tear. Buying out your Mercedes-Benz lease could help you minimize or even eliminate many of those expenses. Another reason to do a buyout is if your Mercedes-Benz has a higher current market value than what it would cost you to buy out the lease.

On the more positive side, if you kept your Mercedes-Benz in great condition and always took care of any issues, that means it's in excellent shape. That would be a strong reason to consider doing a buyout. In addition, there's a great deal of financial benefit in moving from a lease, which is essentially like renting, and beginning to build up equity in the Mercedes-Benz you drive every day. If your current financial situation allows you to do a buyout at Mercedes-Benz of Virginia Beach, it's a step that's well worth considering. We'll be happy to discuss the situation in advance and help clarify your choices at Mercedes-Benz of Virginia Beach.