Leasing vs Buying
Why Lease a New Car?
If you like to drive newer, safer, more reliable cars, not commit to a large down payment every few years, and also do not travel an enormous amount of miles every year, then a new car lease might be the right choice for you. Leasing is designed for those who prefer to avoid the hassle of buying and selling every time they want to get into a new car, truck, or SUV.
Why Buy a New Car?
Conversely, if you want long term relationships with a greater sense of commitment and ownership, then buying might be what’s right for you. Car-buying is typically best for people who do not mind driving the same car, truck, or SUV for over five years or even until it’s no longer fit for the street.
Leasing vs Buying: Which Is Right for You?
Knowing the pros, cons, and overall benefits of buying vs leasing a vehicle is imperative. Be sure to consider potential savings, vehicle ownership, monthly payments, and repair costs when calculating the best new car financing type for you.
Buying: Ownership vs Leasing
When it comes to vehicle financing, new vehicle ownership surely comes with many well-known advantages, most associated with complete ownership of the car or truck. You may not be aware, however, there are also a few nice advantages to leasing, as well. It’s essential to consider all financial aspects including monthly payments, down payment, term length, buyout payments, interest rate, depreciation, and maintenance & repair costs, before making a decision. A meticulous examination of your current financial situation, future needs, and your preference for commitment, will likely ensure that you make the ideal choice between leasing and buying a new car, truck, or SUV.
Monthly Payments
Car lease payments are often less expensive when compared to auto loan and car financing payments as the standard lease layout is pretty much renting with the option to buy out near the end of your lease term. Keep in mind when leasing that you will need a healthy credit score, and will be asked to carry collision and comprehensive insurance, though the same can be said for the lower rate auto loans. Though it could likely increase monthly payments, it is also best to choose a model with the features you want or need, as personal satisfaction is often priceless.
Maintenance & Repair
Auto leases often include regular vehicle maintenance & repair. It is important to remember this when projecting monthly costs of leasing vs ownership. Regardless of what make and model you buy, mechanic bills are an uncertain cost that can rapidly add up. And for those who aren’t certified auto mechanics with a full toolset and hydraulic jack in the garage, leasing could be the best option for peace of mind.
Investment vs Savings
Generally speaking, a new vehicle lease saves money in the short term with lower monthly payments, while buying earns you a long term investment, meaning absolute ownership of the value of the car or truck at the time it is traded, sold, or paid-off. For best savings on a lease, avoid lease return fees for terminating the vehicle lease early, going over mileage, or putting on excessive wear and tear. For the best investment on a purchased/financed vehicle, you can pay it off in a shorter term and also avoid excessive wear and mileage.
| Lease | Buy | |
| Maintenance & Repair Costs | Typically Included | Not Included |
| Down Payment | Smaller Down Payment | Larger Down Payment |
| Monthly Payment | Smaller Monthly Payments | Larger Monthly Payments |
| Ownership | No Ownership | Pride of Ownership |
| APR % | Credit-Based | Credit-Based |
| Finance Term | Approx. 2-4 Years | Approx. 3-6 Years |
| Savings/Investment | Short Term Savings | Long Term Investment |
| Vehicle Customization | Not Available | Available |
| Pre-Owned Vehicles | Not Available | Available |
| Poor Credit Financing | Not Available | Available |
| New Vehicles | Available | Available |
BMW Lease and Finance Offers In El Paso TX
BMW of El Paso knows that choosing the right BMW car and financing option is never easy. Our team of experienced BMW lease and finance specialist are on hand to help you make the right choice. Visit us online, by phone, or in-person at our dealership location in El Paso, TX. We look forward to serving you.
Great service got my oil change done fast they provided me with an Uber to work and back while the car was ready. Place is new looks great
Best dealership experience! Courteous, friendly, professional. From the sales person, Alec Moran, to the finance manager. I was not there long and drove off with my new X3!
Easy get the app and on you're way is all done and explained to you up front as well price carlos was very pleasant to us
Carlos at Bmw of El Paso handled everything professional. Kept me updated and very responsive. I did not have to worry about my car being in their care for too long. Everything was done in a timely manner.
Excellent experience in buying a new car at this dealership. I was able to order and buy at a very good price. My salesman, Jonathan was very accommodating in handling the details and going the extra mile in meeting my needs.
Carlos at services department was a great help, running down what. Needs to be done In the car , great job carlos you are one of the few professional people that I have encountered in El Paso tx
Service and sales at this dealership are excellent. Heidi in service is on top of the process from beginning to end. I recommend this dealership to any BMW owner.
Thank you Omar! You displayed kindness and respect so that purchasing of our vehicle was easy. Your attitude was genuine. It was a pleasure working with you.
Went in for my 10K oil change and service. My service representative, Karina, was quick to greet me and help me through my first BMW service visit. I waited on site during the service and was received warmly and offered assistance by the entire El Paso BMW staff. On the plus side, the oil change and alignment were completed 20 minutes sooner than quoted.
Search By Keyword
Search By Filters
SAVED VEHICLES
You don't have any saved vehicles!
Look for this link on your favorites:
Once you've saved some vehicles, you can view them here at any time.
Choose How To Share:
915-778-9381
Call Now6318 Montana Ave. • El Paso, TX 79925
Get DirectionsToday's Hours:
Open Today! Sales: 8:30am-7pm
Open Today! Service: 7am-6pm
Open Today! Parts: 7am-6pm
