If you prefer to drive newer, safer, more reliable cars, trucks, or SUVs, but not make a considerable down payment every 3-4 years, and also do not drive an excessive amount yearly, then a new car lease may be better for you. Leasing is intended for those who would prefer to avert the hassle of selling and buying each time they want to drive a new car.
Contrarily, if you prefer long term automotive relationships with a higher sense of ownership and commitment, then buying could be what’s best for you. Car-buying is typically best for those who do not mind driving the same vehicle for over five years or even until the vehicle is no longer fit for the freeway.
Being aware of the pros, cons, and overall benefits of leasing vs buying a car or truck is important. Be sure to look at potential savings, vehicle ownership, monthly payments, and repair costs when weighing the pros and cons of the best new car, truck or SUV financing type for you.
When weighing the value of vehicle financing, new vehicle ownership surely comes with many well-known advantages, most associated with entire ownership of the car. You may not realize, however, there are also some nice advantages to leasing, as well. It’s important to consider all financial aspects including monthly payments, down payment, term length, buyout payments, interest rate, depreciation, and maintenance & repair costs, before making a decision. A careful checkup of your current financial situation, future needs, and your preference for commitment, will likely ensure that you make the best choice between leasing and buying a new car, truck, or SUV.
Car, truck, or SUV lease payments are often less expensive when compared to car financing and loan payments as the typical lease deal is pretty much renting with the option to buy out near the final payment of your lease term. Just consider when leasing that you’ll need a higher credit score, and will be required to carry collision and comprehensive insurance, though the same can be said for the better rate auto loans. Though it may increase monthly payments, it is also wise to select a model with the features you need or want, as personal satisfaction is often priceless.
Auto leases often include regular vehicle maintenance & repair. It is important to keep this in mind when projecting monthly costs of ownership vs leasing. No matter which make and model you select, mechanic bills are an unpredictable cost that can rapidly add up. And for those of us who aren’t certified mechanics with a hydraulic jack and full toolset in the garage, leasing might be the best option for peace of mind.
In general, a new car lease saves money in the short term with lower monthly payments, while buying earns you a long term investment, meaning outright 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 going over mileage, terminating the vehicle lease early, or putting on excessive wear and tear. For your best investment on a purchased/financed vehicle, you can pay it off quickly and also avoid excessive wear and mileage.
|Pre-Owned Vehicles||Not Available||Available|
|Vehicle Customization||Not Available||Available|
|Poor Credit Financing||Not Available||Available|
|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|
Baron BMW 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 near Kansas City, KS. We look forward to serving you.
I’ve gone here for years to service my X5. The service department is friendly, thoughtful and thorough. As a woman I never feel like they treat me differently or try to money grab me. And for that I’m so appreciative. I’ve had nothing but great experiences with Barron BMW
Needed a rear wiper replacement as the car wash place ripped the one off the back window. Drove to Baron BMW, and the service was excellent. Treated me like I was their only customer that day and fixed me up just fine. Service department was spotless too.
This dealership is the best in every aspect: helpful, professional, organized, friendly. From the our sales person to service dept. I have had a great experience. Currently on my second BMW from Baron!
As always a great experience! Baron provides valet with a loaner car while my car is in the shop, a life saver! Zach is willing to help where he can, much appreciated!
Ryan Bell is Simply THE BEST Solid Rockstar! And Baron BMW if you don’t go there It’s your loss.. Nuff Said. Trust Me You’ll miss out not going Here!