Lease vs Buy
When you want to drive around Mississauga, Ontario, you have two options for getting behind the wheel: leasing and buying. Each method offers its own unique benefits, causing make drivers to ask which option is best for them.
Pfaff BMW is here to tackle that question. Below, we’ve highlighted the differences between leasing and buying, as well as the benefits of both options. Read this page to determine which option may be right for you. If you have questions, our team is available to answer them.
What’s the Difference Between Leasing and Buying?
The main difference between leasing and buying is the level of commitment a driver takes on.
With a leased vehicle, you are only driving that car for a specific period of time. When your lease is over, you return the car to the dealership you leased it from.
When a vehicle is purchased, it is yours for as long as you want to drive it. You can drive it for as many years as you want and sell it when you’re ready to find another vehicle.
Benefits of Leasing
Leasing a vehicle is similar to a long-term rental. Leases typically last two-to-four years, and when they’re finished, you have the option to lease another new car. Since leasing is typically done with new vehicles, you can continually try out the latest model.
Those who are interested in experiencing the latest luxury features or technology may also prefer leasing since you can try out the most recent model with every lease. With the most recent model comes the newest features.
Leased vehicles are generally always under warranty, too. This helps you drive with peace of mind and potentially lower maintenance or repair costs if something happens.
Pros of Buying
Buying a vehicle gives you the ability to do whatever you like with your vehicle. When you buy a vehicle, you own the car. You can drive it as much as you want, service it where you want, and customize it how you want. You can create a vehicle that’s perfect for you when you want to.
Purchasing a vehicle eventually leads to no vehicle payments, too. Once you’ve paid off your loan, your vehicle doesn’t have any more payments. You can also sell your vehicle if you decide you want to drive another car. That money goes into your pocket or is put toward your next vehicle.
Refinancing your auto loan is also an option. This can help you save money or change the way your payments are structured.
Lease or Buy Your Next BMW At Pfaff BMW
Whether leasing or buying is the right option for you, the team at Pfaff BMW can help you get behind the wheel. While you shop with us, you’ll experience the Pfaff Difference—our way of creating an excellent shopping experience for drivers.
Mississauga, ON, drivers can explore our inventory on our website or visit us in person to view our BMW inventory. We look forward to helping you get behind the wheel. Visit us today.