Making New Cars Affordable Through Leases and Loans

New car prices continue to rise thanks to the latest technology and features. To make vehicles more affordable, automakers offer lease and loan programs with low rates and affordable terms. After you’ve selected your new vehicle at BMW of Sarasota, our expert finance team can help you decide whether to lease vs. buy the car.

Benefits of Buying a New BMW

Understanding the differences between leasing vs. buying a car has pros and cons. If you decide to buy a new car with a traditional auto loan, the loan is based on the sticker price. Once the loan is paid, you become the owner of the vehicle.

Because you’re paying for the full price of the car (minus a down payment or trade-in), you will have higher monthly payments than if you lease the car. However, you won’t have any of the restrictions that come with the typical lease.

A major benefit of a traditional loan is being able to sell or trade the car at any time, even if you still have time to pay on the loan.

Why Lease a New BMW Through the BMW Lease Program

If you decide to lease a car, you will only pay for the time established in the lease agreement. Most lease terms are two or three years, so your lease payments cover the sticker price minus the residual divided into 24 or 36 equal payments. They will be lower than traditional loan payments.

While the lower payments are attractive to many buyers, leases come with several stipulations. The residual value of the lease is based on the mileage and year. Most leases have mileage limits between 10,000 and 15,000 annual miles. The BMW Lease Program allows drivers to purchase additional miles to avoid paying wear-and-tear charges.

Drivers who don’t put excessive miles on cars and like to get a new car every few years enjoy leases. At the end of a BMW lease, BMW will contact you with the return process to make the process stress-free and easy. BMW also offers early-termination specials for customers who want to leave their lease early to lease an exciting new BMW.

See the Latest BMW Models at BMW of Sarasota

The BMW Lease Program offers customer-centered features for drivers who enjoy driving a new BMW every few years. The automaker also offers outstanding loan programs for drivers who prefer to keep their BMW for the long term.

At BMW of Sarasota, our experienced finance team can help you choose the lease or loan program that is right for you. To speed up the process, we offer a convenient online finance application. We invite you to visit our website to learn about the latest BMW financing incentives for your favorite BMW models.