Should I Buy or Lease a Car?

“Should I buy or lease my next car in Habberstad BMW?” Many Huntington drivers ask themselves the very same question, and the answer is different for everyone. Some love the long-term savings of a financing plan, while others prefer the affordability of a shorter-term lease. In this guide, Habberstad BMW runs through some car-buying tips to help you decide between leasing vs. buying once and for all.

Is Leasing Better?

Is leasing better for you? Leasing has its own distinct advantages for Oyster Bay drivers. When you lease a car, you’re essentially renting it over a period of months or years. Most drivers choose to lease for two or three years and then move on to another vehicle. Here are a few reasons to choose a lease:

• Leasing is a shorter-term commitment. If you don’t want to commit to one vehicle for the next decade, leasing allows you to upgrade on a frequent basis with no strings attached.
• Leasing is usually more affordable than financing. That’s because you only pay for the depreciation of the vehicle over the duration of your contract.
• Leasing is flexible. While most people return their lease or upgrade to a new car at the end of their contract, you also have the option to do a lease buyout and eventually own your car instead.

Is Financing Better?

Between leasing vs. buying, the majority of Syosset drivers opt for financing. Why? Financing is a solid long-term investment that eventually pays off big. When you finance, you take out a loan and gradually pay it back to the lender. This means more money upfront. But over time, you build equity and work toward total ownership– which means no monthly payments! Here are the benefits of financing:

• Financing allows you greater freedom when driving. There are no restrictions on mileage or customization, so you can do what you want.
• If you’re willing to hang onto the same car for a longer period of time, financing a car will eventually cost less than leasing. That’s because you’ll eventually stop making payments.
• If you want to get a new car in the future, you can always sell or trade in your vehicle at Habberstad BMW. Then you can recoup some of the cost, even after driving it for many years.

Explore Leasing vs. Buying With the Habberstad BMW Financiers

So, should I buy or lease my next car? If you still have questions, stop by Habberstad BMW in Huntington Station. Our finance team would love to discuss your options in more detail, so you can buy or lease just the right vehicle. Contact us today to learn more!

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