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Leasing vs Buying

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.

pros and cons of leasing vs buying a new car

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.

is it better to lease or finance a car

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.

lease vs finance car analysis

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.


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Cars Sep 20, 2022

Great service as always !!! Alex and her team are great , she always goes out of her way to assist. Thank you. Alex. I appreciate it

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Cars Sep 16, 2022

I went to do my oil services and check my tires pressure and they do all my needs in couple hours very satisfied with the professional service that Miss Alex provide me. 100% I recommended BMW Services

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Cars Sep 3, 2022

I Always feel taken care of when I visit bmw.. Customer service is great.. I love that they update you through text and how your car is doing during the visit

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Cars Sep 2, 2022

Heidi is THE BEST service person anyone can have!! She is caring and always goes the extra mile for us!!! Thanks Heidi!! We will be back any time we need service.

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Cars Aug 7, 2022

Karina was a great help with the repair process and went the extra mile for me. She made sure I had transportation and was helpful when my credit card had issues.

Main: 915-778-9381
BMW of El Paso 31.7881173, -106.407489.