Leasing vs Buying

Leasing vs Buying

It’s time to take a look at the two major finance choices: leasing and buying. For many Meridian, Laurel, and Philadelphia, Mississippi, shoppers, choosing between these options can be a tough call. Both offer benefits, but you need to know which one is better suited to you.

More people than ever are choosing to lease, though buying still has the benefit of you owning your car in the end. If you want to consult with an expert on which path makes sense for you, reach out to BMW of Meridian today.

Car Leasing

The New Leasing Landscape

More and more these days, dealerships are offering lease deals and specials that make leasing attractive to shoppers. More people are choosing to lease their cars as a result—especially if they drive luxury cars.

Why so many deals? Automakers stand to benefit when they lease a major portion of a car’s production. Leasing helps keep used car inventories steady, because lease returns go directly to the used car lot. This boosts resell values and leads vehicles to depreciate more slowly.

Cars that hold their value generally translate to better lease rates. It’s a case where what’s good for the dealership is good for the average consumer too! Still, you want to consider whether leasing suits your needs. 

Leasing at Dealership

The Benefits of Leasing a Car

What makes leasing so attractive to consumers? Many see it as a chance to choose a car they wouldn’t otherwise be able to drive. Leases usually have lower monthly payments than loan agreements, so you may be able to lease a luxury car like the BMW X1 or 3 Series.

If the perks are well-suited to the way you live and drive, it may be to your advantage to lease a car.

  • Lease payments are usually lower than loan payments
  • New car warranty coverage for the length of your lease
  • Opportunity to upgrade to a new car every two to four years

Buying from Dealership

The Benefits of Buying a Car

The biggest reason you may decide to buy, rather than lease, is the amount of freedom over your car that buying allows you to have. As you make your monthly payments, you’re building equity in your car, and once you’ve finished making payments, the title of the car is yours.

In other words, you have value to show for your payments in the end, value that lasts beyond your loan term, and can even help finance your next new car.

  • You own the vehicle and can keep it as long as you want it
  • Build equity to help you pay for your next vehicle
  • No limitations on mileage or customizations

New Wheels: Buy or Lease?

As you’ve now seen, there are possible pros and cons to both leasing and buying cars. It depends on many factors, but none more so than your lifestyle and personal preferences.

Before you hit the streets of Meridian, Laurel, and Philadelphia, MS, in a new car, take the time to learn more about how both paths apply to your personal situation. The professional finance team at BMW of Meridian is always here if you want to chat, so reach out to us today!

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2000 Highway 39 N • Meridian, MS 39301

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BMW of Meridian 32.380341, -88.6827163.