You have seen every BMW for sale in Escondido, CA and have finally set your sights on the perfect luxury vehicle available here at BMW of El Cajon. The next step is figuring out how to go about financing this BMW car or crossover, and that means choosing between buying the vehicle outright or opting for a lease.
Both have advantages and disadvantages, so if you are not sure which is best for you, consider the following:
How Long Do You Plan to Own the Car?
If you are the type of person that likes to get the latest and greatest BMW models, then leasing is probably a better option. The duration of most leases are three years, which means you can enjoy a new car for that period of time and then swap it out with no strings attached once those three years are over. Conversely, if you plan on owning a vehicle for a long time, buying is a better option.
How Much Do You Plan on Driving?
Leases come with mileage limits, so if you’re the sort of person who drives to and from work and not much else, a lease can be great. However, if you are someone who drives a lot for your job, or you plan on taking the vehicle cross-country for family trips, buying the vehicle makes more sense.
What is Your Monthly Budget?
Monthly lease payments are generally lower than monthly payments on a loan, but where lease payments never end for as long as you’re still leasing, a car can ultimately be paid off. If you would rather have no car payments somewhere down the line, buying the car outright may be the smarter option.
Once you’ve answered each of these three questions, you should have a better sense of which financing option is best for you. As always, speak with a BMW dealer here at BMW of El Cajon if you have any questions because we genuinely want to help you take home that perfect luxury automobile!