How to drive a flashy Merc around town without owning it

For all those Mercedes Benz lovers who lusted after the marquee brand but could never afford it, fret not as your destiny might be changing. According to an article in the Business Standard, Mercedes Benz Financial, the finance arm of the car maker, is now offering Mercs on lease.

"The current owners of Mercedes cars,....typically rotate their car every three-four years.....such users are effectively paying a lot more and would probably be better off leasing a vehicle instead of buying it," Siddharth Nair, MD, Daimler Financial Services, told the newspaper.

[caption id="attachment_214019" align="alignleft" width="380" caption="The big plus about leasing: you don't have to pay an upfront amount or a down payment. Getty"][/caption]

So, how do you go about owning a magnificent Merc? Well, after you have chosen the model, the company calculates its future value (at the end of the leasing period). Based on that, a rental amount is calculated. The rental is what you pay each month, and includes other costs like insurance, maintenance charges and registration.

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The big plus about leasing: you don't have to pay an upfront amount or a down payment. This option is better than taking a loan where you have to pay an upfront amount of 20 to 25 percent of the price of the car, as well as pay for costs like insurance etc.

Whats the advantage?Well, the main advantage of leasing comes at the end of the lease period: you simply return the car - and drive out with another. Additionally, you could buy the car at the end of this period but you may end up paying a lot more.

Read the entire Business Standard article here.