When it comes to getting behind the wheel of a new luxury car like a BMW, one of the biggest decisions is whether to lease or finance. There are benefits and drawbacks to each option that are important to consider. At Tom Hesser BMW, serving Scranton, PA, our knowledgeable team can walk you through the differences to help you make the best choice for your needs and budget.
Benefits of Leasing a Luxury Car
Leasing a luxury vehicle like a BMW often comes with lower monthly payments compared to financing. This is because you are essentially renting the vehicle for a set term, usually two to three years, rather than paying to own it outright. Leasing also allows you to drive a new car every few years, taking advantage of the latest features and technology. If you enjoy staying up-to-date with the newest models, leasing could be a great option.
Another benefit of leasing is that the vehicle is typically covered under warranty for the duration of the lease term. This means any covered repairs would be paid for by the manufacturer. For those who don't want to deal with unexpected repair costs, leasing provides added peace of mind.
Benefits of Financing a Luxury Car
The main benefit of financing a luxury car is that you will own it once the loan is paid off. This means you are free to drive as many miles as you want and can customize the vehicle however you like. With leasing, you need to be mindful of mileage limits and keeping the car in good condition to avoid extra fees.
Financing also allows you to spread the cost of the vehicle over a longer term than leasing - usually four to six years. While the monthly payments may be higher than leasing, you are paying toward owning the car outright. Those who plan to keep their vehicle for many years may prefer financing.
Apply for Your Loan or Lease Today
Once you've found the perfect BMW, our finance center is here to help make it yours. We work with a variety of lenders to find you the most competitive rates and terms for your loan or lease. Our streamlined process means you can be driving home in your dream car in no time. Visit Tom Hesser BMW in Scranton, PA, or apply for financing online to get started today!
