Why This Is the Best Time to Buy a Used Mercedes-Benz
This year car shoppers can expect a buyer’s market for used vehicles. There is a surge in off-lease cars coming back to the market. According to Experian Automotive, 1.8 million vehicles are coming off-lease through the remainder of 2016. This means cars that were originally leased two or three years ago will be returned to dealerships and be available for sale. Combine that with soaring new car sales over the past several years, and there will be a fresh supply of wholesale used vehicles at dealerships across the U.S.
The glut of pre-owned vehicles coming back to market is the result of increased leasing activity that followed the recession. Leasing soared to a record level in 2014, with 3.5 million new vehicles leased in the United States, according to J.D. Power. Leasing vehicles is a popular choice for consumers as prices for new and used vehicles rise. Leases also carry reduced risk for lenders and offer lower monthly payments for consumers.
What does this mean for buyers of a used Mercedes-Benz? Let’s take a look at the details:
Which Vehicles Will Offer the Best Deals?
For the best deals, wise used car shoppers should be aware of which vehicles will be in oversupply. The most-leased models over the past two and three years include passenger cars and crossovers, according to Experian. Consumers will likely get the best deals on used vehicles, including entry-level and luxury crossover utility models. Others popular leased vehicles returning to market include: standard and lower midrange sedans, and near-luxury/upscale vehicles.
Popularly used Mercedes-Benz vehicles include C-Class coupes and sedans, the mid-sized M-Class SUV (which was renamed as the G-Class) and E-Class sedans.
How Much of a Deal Can You Expect?
Not all used vehicles are the same and don’t expect great prices on everything. However, buying a used Mercedes-Benz can usually save you several thousand dollars, compared to a new version. You can also lease pre-owned vehicles for lower monthly payments.
The expanded inventory of used vehicles expected this year will create lower prices for many nearly-new vehicles. Prices are expected to drop by 2.5% per year, over the next three years (levels not seen since 2010), according to a J.D. Power report.
What’s the Benefit of Buying a Used Mercedes-Benz?
Off-lease late-model vehicles represent a great buy. These nearly-new cars usually have low mileage and are in great condition. Most were well looked after and received regular maintenance. The cream of the crop qualify as Certified Pre-Owned Mercedes — a very special label that carries a promise of quality.
All Certified Pre-owned Mercedes-Benz vehicles come with verified histories of proper maintenance and receive a full164-point inspection carried out by specially-trained technicians.
Additionally, all Mercedes-Benz Certified Pre-Owned vehicles come with an unlimited mileage, one-year warranty. Buyers also have the option to extend that warranty for up to two years. There is no deductible and no additional fees for warranty-covered parts, service, or labor.
Can You Afford it?
It’s always best to weigh the risks and benefits to any major purchase. And it is wise to go over your financial status before purchasing any vehicle. However, buying a used Mercedes-Benz can be a great option for people with less-than-ideal credit ratings. The typical used-car lessee has a 635 credit score, 80 points lower than a new-car buyer, according to Experian.
Mercedes-Benz Financial also has special offers on used models and other lenders, who are responding to the oversupplied market, are helping people get in to used vehicles.
Where Can You Expect to Find the Best Deals on a Used Mercedes-Benz?
Authorized Mercedes-Benz dealerships carry the best variety of used Mercedes-Benz vehicles. Mercedes-Benz dealers are staffed with factory-trained employees, immersed in the iconic German luxury car maker’s brand. Support from the manufacturer ensures that customers receive the best information and service available.
The network of Mercedes-Benz dealerships around the U.S. are linked by a common inventory system. To search available inventory online visit MSUSA.com.
Before You Buy …
There will be plenty of great deals on used vehicles this year. But before buying, slow down and consider these tips:
1. Take time to research the pre-owned vehicle you wish to buy. Read reviews and research ratings for the make and model year.
2. Do the math and calculate your monthly payments. Great APRs are available through Mercedes-Benz and there are Payment Calculators available to help your find the right car for your budget.
3. Consider depreciation trends for the make and model of your vehicle. Some vehicles are historically more desirable than others. Consider size, function, gas mileage and consider if those factors help or hurt its resale value down the line.
4. Factor in maintenance costs. Mercedes-Benz offers pre-paid maintenance packages that save money in the long run and keep your car in top condition.
5. Schedule a test drive. Try the vehicle in person. Inspect it inside and out and compare other available options. A trained sales specialist should be able to answer any questions you may have.