The Pros and Cons of Buying or Leasing A BMW

2017 BMW 5 Series available to purchase near Paramus

When the time comes to decide whether you should finance or lease a vehicle, it is important to weigh the pros and cons. Each arrangement has its own set of benefits, and the decision usually comes down to the type of lifestyle you have and how you prefer to pay for your vehicle. The final decision is totally up to you, however, there are some factors that you can take into consideration to see which option works best for you and your budget. Our highly-intelligent staff at our 
BMW Finance Center near Paramus is available to help you discuss and decide which option is better for you.

If you choose to lease a vehicle, you have the ability to get more car for less money. With a lease, you only end up paying for the use of the car for two to three years (depending on how long the lease is), instead of paying for the whole car itself. If you tend to be someone who likes to change things up every couple years or so and is not a long distance driver, a lease may be the better option. You pay less on a monthly basis and usually have a very small (or nonexistent) down payment.

However, some lease contracts can be confusing and you may end up paying more in the long run, so read everything carefully and fully understand what you are signing up for.

Pros of Leasing
  • Less expensive on a monthly basis
  • Low or no down payment
  • Lower repair costs (due to included factory warranty)
  • Transition to “new” car every two years or so
  • Pay less sales tax
Cons of Leasing
  • Don’t own car at end of lease (but have option to buy)
  • Limited mileage
  • Contracts can be confusing
  • End up paying more in the long run
  • Excessive wear-and-tear-charges
  • Costly to terminate lease early

It Comes Down to a Matter of Priorities When Paramus Area BMW Shoppers Decide To Buy or Lease

2017 BMW 5 Series available for lease in Rochelle Park

If you are someone who doesn’t mind sticking to the same type of car for years and have a longer commute to your workplace or travel destinations, buying may be the better option. At our
Paramus area BMW dealership, we are here to help out with that! If you pay for the vehicle in full the moment you purchase it, you can go a few years without needing to pay a monthly vehicle payment, and you have the ability to customize the car to your liking; whether that means adding or getting rid of interior/exterior features.

Nevertheless, there are cons to buying as well. You end up paying a higher down payment off the bat, and if you choose a monthly financing plan, your monthly payments will be higher. The vehicle’s value depreciates as soon as you drive it off the lot, and the longer you have it in your driving life, the more the value goes down. This can affect the possible trade-in or sell price a dealership will give you if you decide to do either in the long run.

Pros of Buying
  • Modify car as you please
  • Save money in long-term
  • No mileage limit
  • More flexibility (i.e. - can sell whenever you want)
  • Use as trade-in
Cons of Buying
  • Pay higher down payment
  • Monthly car payments are higher
  • Responsible for repair costs once warranty expires
  • Possible trade-in or selling hassles
  • Value can depreciate
To sum things up, leasing makes it easier to get more car for less money and that is because you only pay for the use of the car for two or three years, instead of paying for the whole vehicle itself. On the other hand, buying frees you from the restrictions involved when leasing a vehicle. For more information regarding our BMW financing or leasing options, contact us or give us a call at (201) 587-9001 today.

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