Here at the Mercedes-Benz Center at Keeler Motor Car Company we have a wide array of financial programs to aide our clients with their needs; ranging from special value added leases to long and short term finance options. We also specialize in quality products that are a wonderful addition in protecting your investment.
With over 20 years of automobile experience in our Business and Finance Department we feel very confident that we have the needed programs and products that will add to your overall purchase experience.1111 Troy-Schenectady Rd.
Latham, NY 12110pause
Loan payments contribute to the eventual ownership of a vehicle, while lease payments apply only to the short-term use of a car.
Owning a lease vehicle is possible if purchased outright after the lease period ends.
A typical lease period runs between 24 and 48 months.
Three important factors - adjusted capitalized cost, residual value and the money factor - determine the monthly rate of a lease.
Closed-end leases set a fixed residual buy price at the beginning of the term, while open-end deals base the final buy price on a vehicle's actual market value at the end of a lease.
Pay more money down initially to reduce monthly loan payments. Otherwise, a typical down payment ranges between 10 to 20 percent of the total cost.
Many used vehicles require down payments of at least 20 percent and include interest rates between 9 to 10 percent.
Lease agreements usually limit mileage from 12,000 to 15,000 miles annually. Beyond these figures, fees in the range of $0.10 to $0.25 per mile begin to accumulate.
If you plan on customizing your vehicle, you need to finance with a loan. Leased vehicles must be returned under factory specification.