Lease VS Buy

Learn More About Whether Leasing or Buying is Right For You


Are you looking for a new BMW or used car in Norwood? You might be considering if you should lease or buy your next new BMW. Both finance options have benefits to consider, like monthly payment amount, warranty options, and whether or not you want to own a BMW. Our BMW dealership has plenty of new BMW models to choose from, like the BMW X3 SAV and BMW 5 Series cars. If you're ready to drive a new BMW, visit BMW of Norwood to discuss available leasing and buying options further.

Explore the Benefits of Leasing & Buying!


 

The Benefits of Leasing

  • Generally, leasing a BMW means a smaller monthly payment.
  • Access to the newest technology and trim levels
  • Maintenance warranty throughout the entire lease
  • Freedom to trade-in for a newer car at the end of the lease
  • No selling hassle at the end of the lease
 

The Benefits of Buying

  • You own the vehicle outright at the end of the payment plan
  • You can keep the car for years to come after the loan is paid off
  • No yearly mileage limits: drive as much as you want
  • Sell your car at your convenience
  • Ability to customize and personalize your vehicle to your liking

Your Leasing & Buying Questions Answered!

If I decide to lease a vehicle, am I getting a better deal than buying?

Leasing & buying are both great options for drivers to consider. The final outcome heavily relates to personal preference and individual needs. If you're interested in driving a vehicle for a shorter time a lease is the option for you. If you're interested in longevity buying is the ideal option.

What is an APR?

APR stands for actual percentage rate and represents the annualized rate at which interest accrues on a loan.

What are residual values?

The residual value is an approximation of what your BMW sedan, SUV, or SAV is worth at the end of your term. Residual values also help to determine your payments and how much to buy your vehicle for. Residual values relate heavily to leasing because you are only paying for a portion of the vehicle instead of the entire amount.

How is sales tax applied to a lease?

Sales tax is applied to the portion of the lease that you pay for which excludes the collective value of the car. This also makes leasing cost effective because you could potentially pay less in sales tax when compared to financing.

How should I determine what mileage to include in the lease?

The mileage range is anywhere between 10,000-12,000 miles per year without any penalties. If you think there's a possibility that you might go over your miles you can always add and buy additional miles in advance to avoid complexities in the future.

What is the shortest car lease available?

Our BMW leases are normally for 36 months, but we do sometimes offer 24-month leases as well. To get the most current leasing information be sure to check out our specials and contact us with further questions.

What if I need to end my lease early?

If a situation arises where you need to terminate your lease we recommend that you reach out to one of our lease specialists for advice to understand our termination policies.

What happens at the end of my lease?

When your lease term is ending there are a few selections to consider. You can decide to keep and buy your vehicle outright or trade it in for a different model. Contact a sales associate to discuss your options.

Are You Interested in Leasing & Buying?

As always, the BMW of Norwood Finance Center consultants are here for you every step of the way. We can look at your budget and set you up with a finance plan that won't break the bank. Our finance consultants at BMW of Norwood proudly serve residents of Norwood, Dedham, Westwood, Canton, Franklin, Needham, Quincy, and beyond. Whether you're looking to buy, lease, or browse our new inventory, we invite you to stop by BMW of Norwood to discover your next new BMW luxury vehicle.

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