Leasing vs Buying

Leasing vs Buying a New Car

Why Should You Lease a New Car?

If you like to drive newer, safer, more reliable cars, trucks, or SUVs, but prefer not pay a large down payment every 3-4 years, and also don’t travel an excessive amount yearly, then a new car lease could be better for you. Leasing is best for those who prefer to bypass the hassle of buying and selling every time they want to get into a new car or truck.

Why Should You Buy a New Car?

On the other hand, if you prefer long term automotive relationships with a larger sense of commitment and ownership, then buying may be what’s best for you. Car-buying is typically best for consumers who will not mind driving the same car, truck, or SUV for over five years or even until it’s no longer fit for the freeway.

Leasing vs Buying: Which Is Right for You?

Being aware of the pros, cons, and overall benefits of leasing vs buying a car is critical. Be sure to acknowledge factors such as vehicle ownership, monthly payments, repair costs, and potential savings when weighing the pros and cons of the best new car, truck or SUV financing type for you.

Buying: Ownership vs Leasing

When it comes to vehicle financing, new vehicle ownership absolutely comes with many well-known advantages, most associated with complete ownership of the car, truck or SUV. You may not realize, however, there are also a few great advantages to leasing, as well. It’s important to consider all financial aspects including interest rate, down payment, monthly payments, term length, buyout payments, depreciation, and maintenance & repair costs, before making a decision. A thorough examination of your current financial situation, future needs, and your preference for commitment, will likely ensure that you make the perfect choice between leasing and buying a new car, truck, or SUV.

benefits of leasing vs financing a new car

Monthly Payments

Vehicle lease payments are oftentimes less expensive when compared to car financing and loan payments as the standard lease layout is basically renting with the option to buy out at the final payment of your lease term. Just consider when leasing that you’re going to need a good credit score, and will be required to carry comprehensive and collision insurance, although the same can be said for the lowest rate auto loans. Though it can add to your monthly payments, it is also better to choose a model with the features you need or want, as personal satisfaction is often priceless.

why leasing a car is smart

Maintenance & Repair

Auto leasing often includes regular vehicle maintenance & repair. It is important to keep this in mind when projecting monthly costs of leasing vs ownership. No matter which make and model you buy, mechanic bills are an uncertain cost that can rapidly add up. And for those who are not certified mechanics with a hydraulic jack and full toolset in the garage, leasing might be the best option for peace of mind.

analysis of lease vs buy a car

Investment vs Savings

Generally speaking, a new car lease saves money in the short term with lower monthly payments, while buying earns you a long term investment, meaning full ownership of the value of the car, truck, or SUV at the time it is traded, sold, or paid-off. For best value on a lease, avoid lease return fees for terminating the vehicle lease early, going over mileage, or putting on excessive wear and tear. For maximizing investment on a financed/purchased vehicle, you can pay it off quickly and also avoid excessive wear and mileage.


Lease Buy
New Vehicles Available Available
Pre-Owned Vehicles Not Available Available
Vehicle Customization Not Available Available
Poor Credit Financing Not Available Available
APR % Credit-Based Credit-Based
Ownership No Ownership Pride of Ownership
Down Payment Smaller Down Payment Larger Down Payment
Monthly Payment Smaller Monthly Payments Larger Monthly Payments
Savings/Investment Short Term Savings Long Term Investment
Finance Term Approx. 2-4 Years Approx. 3-6 Years
Maintenance & Repair Costs Typically Included Not Included


BMW Lease and Finance Offers In Houston TX

Advantage BMW Midtown knows that choosing the right BMW car and financing option is never easy. Our team of experienced BMW lease and finance specialists are on hand to help you make the right choice. Visit us online, by phone, or in-person at our dealership location in Houston, TX. We look forward to serving you.


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Google Nov 30, 2020
 

Shoutout to Kevin M! He was my first point of contact when i called and was able to answer every question i threw his way! He got the numbers I wanted on a 2021 X4, unfortunately the deal fell through at the last minute neither parties were at fault but his hard work and great customer service showed value and will have my family and I return for our future needs.Thank you Kevin!

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Google Nov 30, 2020
 

Hector Rodriguez was great to work with when purchasing my 2018 M4. I was able to trade in my 2014 428 for the upgrade. The car was exactly how it was portrayed in the pictures and it was immaculately detailed when I first sat in the car.

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Google Nov 30, 2020
 
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Google Nov 30, 2020
 
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Google Nov 30, 2020
 

Had help from Eduardo made the whole time very smooth. Was very knowledgeable and helpful on all my questions definitely great service advisor. New location as well very very nice inside while you wait. In the end car was working perfect as well.

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