Leasing vs Buying a Car
Leasing vs Buying a Car in Huntsville, AL
Are you in the market for a new luxury car or SUV near Decatur, AL? Then you will want to shop for your next vehicle at Century BMW of Huntsville. We carry an exciting selection of new BMW models, one of which might be ideal for you. When you are ready to pick your next vehicle, you can choose between leasing and financing. Here is what you need to know about leasing and financing your next vehicle at Century BMW of Huntsville.
The Differences Between Leasing and Buying
Buying a Car with Financing
To buy a new BMW vehicle to drive near Athens, AL, our customers usually take out an auto loan in a process called financing. The loan allows you to pay for the vehicle right away, so you can drive home and enjoy it that day. You then pay off the loan over time with interest added. Your down payment amount and credit score help determine your APR.
Leasing a New BMW
If you want to drive a new BMW without taking out a loan, then leasing one might be the right choice for you. When you lease a vehicle, you make monthly payments to our dealership, allowing you to drive your BMW vehicle of choice all over Guntersville, AL.
The Benefits of Financing
Financing is the most direct route to owning a new BMW, which is a goal for many drivers in and around Scottsboro, AL. When you finance a vehicle, you don't have to worry about mileage limits as you do with leasing. You can also customize and modify your vehicle, which you can't do with a leased model. Financing your car also allows you to build equity in it.
The Benefits of Leasing
Leasing a vehicle lets you drive home to Scottsboro, AL, in a new BMW vehicle without needing a loan. Many drivers enjoy being able to drive a new luxury vehicle without making a long-term financial commitment. Because your lease payments only cover the vehicle's depreciation during the leasing period, they tend to be less than loan repayments. Leasing also allows you to trade in your leased model for a new one every few years, so you can regularly enjoy the feeling of getting behind the wheel of a new car.
FAQ About Leasing vs. Financing
Which payment process can I use for a pre-owned vehicle?
If you are shopping for a pre-owned vehicle, then financing is the way to go. Leases are reserved for new models, which we then add to our used inventory when they get returned.
What are my end-of-lease options?
When your BMW lease ends, you have three options:
- Trade the vehicle: If you love the idea of driving a new BMW luxury vehicle every few years, you can trade your leased model at our dealership. In return, you will get a new model to lease. This option ensures you are always behind the wheel of a new or like-new version of your dream vehicle.
- Buy the vehicle: If you end up loving your vehicle and you don't want to return it, you don't have to. Instead, you can purchase your leased model when your lease ends. You can take ownership of the vehicle and enjoy driving it for years to come.
- Return the vehicle: If, for whatever reason, you don't want to keep the leased vehicle or trade it for a new one, you don't have to. Just bring the vehicle back to Century BMW of Huntsville and return it with no further obligations.
Learn More About Leasing and Financing Today
Do you have any questions about leasing or financing your next new BMW vehicle near Florence, AL? To get answers, contact Century BMW of Huntsville today.