Leasing vs Buying a BMW
If you’re ready to make the leap to luxury and have picked out the perfect BMW for you, your lifestyle, and your family, then it’s time to finance it. You may know that you have two methods of financing your latest vehicle—buying and leasing—but you may not know all the details.
Our team at BMW of Spokane is here to give you the information you need to make the right choice for you. If you’re in the Spokane, Spokane Valley, and Liberty Lake, Washington, areas, give us a call if you have any questions, and read on to learn about the differences in buying vs. leasing.
Leasing vs Buying Quick Facts
When deciding between buying and leasing, it helps to understand the perks of both options. Here’s a quick look at both of them:
| Buying | Leasing |
|---|---|
| You Own the Car | Long-term Rental |
| You Can Customize the Vehicle | New Vehicle Every Couple of Years |
| Sell on Your Own Schedule | Possibility of More Affordable Down Payment |
| No Mileage Limits | Your Model Is Under Warranty |
Each path has its unique advantages. Buying may be the better fit if you love ownership and long-term savings. If you prioritize more afforable payments and newer models, leasing gives you greater flexibility. Whatever you choose, our team is here to walk you through the pros and cons so you feel confident behind the wheel.
Consider Leasing Your BMW
When you choose a lease, you’ll be under a short-term contract—as little as two years in some cases—to essentially rent a BMW from our dealership. There are a lot of positives when considering a lease, such as:
- Since you’ll only have this BMW for a couple of years, at the end of your term, you’ll be able to lease the newest model year sooner. This is an excellent option for those who like to be on the cutting edge of innovation.
- We want to protect our investment as much as you want to keep your car running, so your model will be under warranty for the entire time you have your BMW. Most of your regular maintenance will be covered for the duration of your lease.
This is a fantastic option for those who like to sport a new vehicle with all the bells and whistles for everyday commuting. In fact, leasing a new car typically offers more affordable monthly payments and often, allowing drivers to access newer models with the latest features more frequently*
Think About Buying Your BMW
If you choose to buy your vehicle, you can either pay in full or get approved for an auto loan to cover the cost of your new BMW. The positives of purchasing your vehicle include:
- Since you’re buying the car, you will fully own it, which comes with its own benefits. You’ll be able to customize your vehicle however you like, and you can trade in or sell your BMW whenever you’d like.
- You won’t have any mileage limits imposed on you. This means you can rack up 100,000 miles on a cross-country road trip and do the same thing again next year.
Buying a BMW is a better option if you’re looking for a car you can truly make your own for the long haul.
Visit Our BMW Financing Center
If you still have questions about buying and leasing, feel free to drop by our finance center or give us a call. We’ll do our best to clarify everything and help you make a convenient choice.
If you’ve already made your choice, you can check out our suite of online tools, like our:
- Payment Calculator
- Value Your Trade
- Finance Application
These tools are designed to make your next steps as smooth as possible. When you’re ready, our team will walk you through each step of the process so that you can make a confident choice.
Current Buick GMC Loan and Lease Specials
We want to help you drive off in the Buick or GMC vehicle that fits your lifestyle and budget. That’s why we regularly offer loan and lease specials on some of the local favorite models.
These offers are constantly updated based on current inventory and manufacturer programs, so check our specials page often or speak with our team to see what’s available.
FAQs: What to Know Before You Buy or Lease
Can I apply for financing or leasing online?
Absolutely. At BMW of Spokane, you can start your financing journey from the comfort of home. Our online tools allow you to securely apply for credit, calculate monthly payments, and even value your trade-in, all before stepping into the dealership. Of course, our finance specialists are here in person and by phone if you want guidance every step of the way.
What are the lease and finance center hours?
Our finance and lease specialists are here to support you throughout the week. Our finance center is open Monday through Saturday from 8:00 a.m. to 7:00 p.m., and Sunday from 12:00 p.m. to 5:00 p.m.
Please note that hours are subject to change, so we always recommend checking our website or giving us a quick call before your visit to confirm current operating times.
How do I know if I should buy or lease a car?
Deciding whether to buy or lease depends on your lifestyle, driving habits, and long-term goals. Buying may be better if you plan to keep your vehicle for many years, want the freedom to drive unlimited miles, and enjoy customizing your car.
On the other hand, leasing is a great option for drivers who prefer more affordable monthly payments, always want to drive a newer model or stay under a set mileage limit. With leasing, you’ll be most likely covered by manufacturer’s warranties for extra piece of mind.
Contact Us to Buy or Lease
No matter if you want to rotate to the latest BMW model every couple of years or if you’re looking for a permanent road companion, the team at BMW of Spokane is ready to help. We want all our friends in the Spokane, Spokane Valley, and Liberty Lake, Washington, areas to make the best choice for them.
Come visit us for a test drive soon. We’re looking forward to meeting you!