When you decide to shop for your next BMW, you’ll have two options to consider: do you want to buy or lease? Each has its own unique benefits and works for a variety of lifestyles. Unsure which is the right option for you? BMW Markham can help.
We’ve put together this page for drivers across Markham, Richmond Hill, and Vaughan, Ontario, who want to know the differences between buying and leasing a BMW. Read on to learn about buying vs. leasing.
What’s the Difference Between Buying and Leasing?
Buying and leasing both get you behind the wheel of a BMW.
When you lease a BMW, you drive it for a specific period. For BMWs, this can be a lease of 24, 36, 39, or 48 months depending on the model and lease length you choose. You also have a kilometrage limit you must follow per year. At the end of your lease, you’ll return your vehicle. It’s similar to a long-term rental.
If you purchase a BMW, that BMW is yours. The title belongs to you once you’ve finished paying off your loan. You don’t have to return your BMW and can sell it when you’re ready to find your next vehicle.
Benefits of Buying a BMW
When you purchase a BMW, that vehicle is yours. You can drive it as much as you like and personalize it in a way that’s best for you. There is no requirement to keep your BMW in a specific condition or under a mileage limit.
Buying gives you the flexibility to purchase a new or pre-owned BMW, so you have more options to choose from.
Once you finish paying off your loan, you’ll have no additional payments for your BMW. You can also choose when/ if you want to sell it or trade it in for your next vehicle. When you do, this saves you a little bit of money on your next BMW.
BMW Leasing Benefits
Leasing has its own unique benefits. This is an excellent option for drivers not interested in the long-term commitment of vehicle ownership. You return your BMW after a couple of years.
BMW allows you to lease a new or certified pre-owned BMW model. These models are often newer and come with the latest technology. If you enjoy trying out new features as they come out, then leasing may work for you. You can continue to lease vehicles and enjoy the technology as it comes out with the newest vehicle year.
BMW leases often come with warranty coverage for your entire lease period. This warranty coverage helps keep costs down for any repairs or maintenance that it might need*.
Begin Shopping for Your Next BMW Today
Whether you prefer to buy or lease your next BMW, BMW Markham is happy to help. As you shop at our dealership, you’ll experience the Pfaff Difference. We look forward to assisting drivers from Markham, Richmond Hill, and Vaughan, ON, find the BMW that meets their needs.
Browse our inventory online or visit us in person to begin shopping for your BMW today.
*See dealer for limited warranty details.