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.
The online transaction was quick and flawless. All Baron representatives I dealt with were top notch. Made the entire transaction enjoyable. Great job guys. Perri.
Great, friendly service by a knowledgeable team. I especially like their “wall of experience” showing which team members have what number of years worked - some have over 25 years of time under the hood!
Have been doing business with this dealership for many years and have always received excellent service. Service people are always thorough and go above and beyond to be sure all points are covered.
Great service. Always taking care of me when I come get both of my bmw vehicles services. Love the complimentary washes after every visit. Thanks
Everyone was helpful. Everything was as anticipated. No surprises. Bob Anderson did a great job. Baron BMW would be a good role model for some other dealerships!
Travis was responsive and helpful in all matters including finding transportation for me quickly when the service took longer than expected due to finding a issue with airbag.
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913-722-5100
Call Now9010 Shawnee Mission Pkwy • Merriam, KS 66202
Get DirectionsToday's Hours:
Open Today! Sales: 9am-8pm
Open Today! Service: 7am-6pm
Open Today! Parts: 7am-6pm
