When you go to buy a vehicle, you’re going to be faced with two main options: leasing or buying. There are definitely benefits and drawbacks to each, and you’ll probably be bombarded with car dealers trying to tell you all about why you should pick one or the other. But what should you really believe? Make the choice on your own before you go out into the market. Buying a vehicle can be a good choice for certain situations, but if you’re looking to maximize your value and minimize overall cost, you’ll be best off leasing, and here’s why:
Smaller down payment
If you want to buy a car, you’ll need to make sure you save up for a rather hefty down payment. But with leasing, you don’t have to make such a huge commitment. Down payments are smaller, and monthly payments are lower as well, since you’re really only paying for the vehicle’s future depreciation. Leasing a BMW is a great idea if you’re not ready yet to make the financial commitment to buy! You can find out more about BMW lease options to get yourself out on the road soon.
More car for less money
If you’re someone who likes to switch it up often and drive a different car every couple of years, leasing is definitely for you. And even if you see yourself sticking with one car, you can choose a higher priced car to lease than you might be able to afford to buy.
Latest and greatest features
If having the latest technology and other features in your car is important to you, then you can have this buy leasing. Since you’ll probably be trading your car in every 3 years or so, you’ll always have the opportunity to lease a new car with the latest features out on the market.
Repairs are covered
Most leases last about three years which is normally the same amount of time as the warranty. So this means that you generally won’t be responsible to pay for any damages or repairs that occur. But keep in mind that you will still need to provide regular maintenance for the car. If you fail to maintain the car properly, you could end up paying fees at the end of your lease if there is anything wrong with the vehicle.