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Why Leasing your Next BMW Makes Sense

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Have you ever paid off a new car?

If you have a history of paying off a new car purchase and then, as they say, running it until the wheels fall off, it may make sense for you buy your new BMW. If, on the other hand, you normally trade a vehicle in after two or three years, it probably makes more sense to take advantage of BMW lease specials and not suffer the depreciation factor that goes with a new car purchase. When you lease, you are only paying on the difference between the cost of the car and what it is estimated to be worth at the end of the lease. This usually results in lower monthly payments than you can get through a traditional purchase.

How many miles a year do you drive?

Most leases from Chapman BMW on Camelback have a set maximum of between 9,000 and 15,000 miles per year. For every mile you go over your maximum, you pay a penalty at the time your lease expires and you turn in your car. The penalties can become very expensive. If you have a particularly long commute, leasing is probably not your best option.

How big is your down payment?

Consider leasing your next BMW if you don’t have at least a 15 to 20 percent down payment. That’s considered about the break-even point to bring traditional financing payments in line with lease payments. Even if you have the money, consider if you want to spend it on a down payment or invest it and take advantage of the low down payment options offered as part of the BMW lease specials at Chapman BMW on Camelback.

How important is a warranty?

Remember that traditional BMW bumper-to-bumper warranty programs only apply for the first 4 years or 50,000 miles that you own a vehicle. With the complexity of modern vehicles, it makes sense to get an additional warranty if you plan on keeping the vehicle longer than that, but that added protection comes at a cost. Naturally, if you choose a 3-year lease there is no logical reason to purchase an extended warranty. Factor the cost of the extended warranty into your decision to buy or lease and see which way makes the most financial sense.

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