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Buying Versus Leasing A New BMW

Based on your financial situation, deciding whether to buy or lease your next BMW can be difficult. Whether you don't know the pros and cons of each or just aren't sure what the difference is, it's always best to know what will work for you. Here at BMW of Pittsburgh, we can help you decide whether to buy or lease your next vehicle.

Buying

We all know what it means to buy a car - you buy the car outright and are the sole owner. Once the car is paid off, it's yours. Your insurance cost when you purchase a car rather than lease one are often lower. You'll never have to worry about mileage limits or spills and stains. You can sell it whenever you want and can throw on as many aftermarket parts as you wish to customize the car perfectly to your tastes.

Advantages

  • Complete ownership after payment
  • Lower insurance costs
  • No mileage restrictions
  • Freedom to modify your BMW
  • Ability to sell anytime

Considerations

  • Higher down payment typically required
  • Higher monthly payments
  • Vehicle depreciates immediately
  • Responsible for repairs after warranty

Leasing

Leasing a car means you take out a contract and pay the difference between the car's price and what it will be worth at the end of the contract. Down payments are usually small, and occasionally not even required. Monthly payments are also less than if you buy the vehicle outright.

Advantages

  • Lower or no down payment
  • Lower monthly payments
  • Less impact from lower credit rating
  • Can help improve credit score
  • Always drive newer BMW models

Considerations

  • Mileage restrictions apply
  • Higher insurance premiums
  • Continuous payments during lease term
  • No ownership equity built

Still Not Sure Which Option Is Right For You?

If you're still not sure if buying a new BMW or leasing one is the right path for you, visit BMW of Pittsburgh right here in Pittsburgh, PA and talk to our experienced finance team. They can help you determine if buying or leasing fits best with your driving habits and finances.

Call us at (412) 682-0788 to set up an appointment or just stop in. We look forward to seeing you!