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You've found the perfect luxury car, but now you have a big decision to make. Do you buy or do you lease? Whichever option you decide on, the BMW financing department here at BMW of Fort Washington is ready to help you out.
Let's take a closer look at both options and see if one of them might be a better fit for you.
BMW Financing
When you finance a BMW car, you own it. Once you pay off your loan, cost of ownership drops off significantly.
You just have to worry about your maintenance costs, insurance, and fuel costs at that point. As a result, financing is often the best option for a driver who plans to keep a car for a long time.
Financing tends to be more expensive though. A monthly loan payment is often higher than a lease payment on a similar vehicle would be. You also have to pay for maintenance yourself, but you can equip your car with performance parts and accessories since you actually own it.
BMW Leasing
Leasing is a great way to experience the newest upgrades and tech that a brand has to offer. A lease lasts two to three years, and at the end of one you can simply trade in your car and lease a new model.
Leases also tend to be less expensive, so you can often get more car for your money. The downside of leasing is that there are some limitations baked into your agreement. One of the most important ones to keep in mind is your mileage limitation.
A BMW lease often limits you to driving no more than 12,000 miles per year. Going over can result in extra fees, as can accumulating excess wear and tear on the vehicle. If you plan to travel more than the typical driver, financing might be the better option.
If you want to learn more, visit our BMW dealers in Fort Washington. We would be happy to answer any of your BMW financing questions.
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