Mercedes Benz of Littleton is currently hosting zero down lease deals for all our EQS vehicles, including 4MATIC and SUV models. Leasing, in general, is a great option for individuals looking to afford a higher end vehicle, and zero down means you can get behind the wheel of one of these incredible cars even sooner.
Pros of a Zero Down Lease
- Get a Car Faster
Not having to pay a downpayment means you don’t have to wait to start your lease while you are saving up. You can also avoid taking out additional loans to act as a downpayment and simply start the monthly payments according to the lease terms.
- Manageable Taxes
Instead of having to pay taxes on a larger lump sum for your down payment amount, you will be able to spread them out over your smaller monthly payments. You will ultimately pay the same amount in taxes, but you will be doing so at a much more controlled and predictable rate.
- Less Financial Risk After an Accident
In many cases, your lease agreement will be terminated if the car is stolen or totaled in an accident. This means any downpayment you made will also be forfeit. In a zero down lease, you will not have to worry about losing your initial down payment in the event of a bad accident or theft. You will lose the registration and documentation, but you won’t be out any cash.
Cons of a Zero Down Lease
You may be wondering what the catch is with a zero down lease. As with any financial arrangement, there are certain considerations that go along with this type of lease. In the first place, zero down leasing is more difficult to qualify for. In general, you will need a very good credit score to receive approval (Tier 1 in most cases, which is 750 or higher).
In addition to being more difficult to qualify for, zero down leases necessarily entail a higher monthly payment and, thus, higher interest rates. That being said, you could reason that the lack of downpayment allows you to afford a higher monthly payment, since you will not be sacrificing a big amount up front.
When it comes to leasing an EV, there are several incentives and a federal tax credit that you may qualify for to further offset up front costs. As of 2023, leased light duty EVs are eligible for a $1500 federal tax credit, and light duty EV SUVs can receive up to $1750 for a lease. You can check for local and state rebates associated with leasing an electric vehicle as well.
Mercedes Electric Vehicle Special Deals
Stop by the Mercedes Benz of Littleton Dealership to test drive one of our incredible EQ vehicles and enjoy zero down on your lease until 3/31/2023. Call or go online today to get started!
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