Leasing vs Buying a New Car
Why Lease a New Car?
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.
Why Should You Buy 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.
Lease vs Buy: Which Is Right for You?
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.
Buying: Ownership vs Leasing
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.
Monthly Payments
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.
Maintenance & Repair
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.
Maintenance & Repair
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.
| 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 Near Kansas City KS
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.
Responsive to un-scheduled service requests. Good follow-up with phone messaging. Friendly and efficient Customer Service agents - managing workload with emphasis on positive interactions with customers.
I enjoyed working with Travis today. He was courteous, answered my questions, helped me in any way needed, and was able to have a great conversation with him! I'd prefer to work him again next time I am there for service.
Baron BMW is very professional and helpful in every way. Service is excellent. Gets you an appointment ASAP when you call. It’s a great dealership.
Clean and friendly. Service was attentive and I would recommend. They do add a fee for rags and cleaning that I do not agree with. The premium we pay for BMW’s should include such petty fees.
We own 2 BMW’s because we feel the service we are provided is the absolute best. Travis was very professional and provided us with estimate before the work was done
We have nothing but good things to say about Baron BMW. We visited one other dealership prior to Baron and the other paled in comparison of facilities, car cleanliness, sales knowledge, and customer service. We were treated exceptionally well by Baron, even though we were not a BMW customer but instead looking for a used car. Everyone was friendly and went out of their way to make sure we were comfortable and well attended. We were dreading the car-buying experience but John especially put our minds and ease -- we felt heard, valued, and competent. I am very thankful for ...
I took my 2014 X5 35d in for service and it turned out that it was covered under a warranty extension! 🙂 Ryan was amazing and kept me informed on the parts order and the progress. My car was perfect and clean when I picked it up. I love my 35d!
I brought my car in because I noticed a large tear in one of my tires caused by driving over potholes. It was apparent that the tire could go flat if I continued to drive on it. My service advisor treated my service as a priority. The service department inspected all tires and fortunately my other tires were in good condition. The service department replaced my torn tire with a new one, balanced my tires and washed my car while I waited. The service was friendly, prompt and professional. I was impressed with my service advisor, Randy, and Robert in ...
Nice customer service, great wait ing room, everyone was nice, fast service, good hot chocolatier, easy to schedule service, kept me updated on process while waiting
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913-722-5100
Call Now9010 Shawnee Mission Pkwy • Merriam, KS 66202
Get DirectionsToday's Hours:
Open Today! Sales: 9am-7pm
Open Today! Service: 8am-5pm
Open Today! Parts: 8am-5pm
