Should I lease my BMW in Calgary?

Should I lease my BMW in Calgary?
There are a number of factors in choosing whether leasing or buying a new vehicle is best for you. If you are looking for answers on whether or no you should lease your BMW in Calgary, then you have come to the right place At Pfaff Leasing, we can get you behind the wheel of the BMW you have been looking for, and with the best lease terms! We can search across our great nation and find you the right BMW, and best of all, we can even have it shipped right to you! In this article by Pfaff Leasing, we will be talking about some of the differences between leasing a buying, and why you should consider leasing your next BMW in Calgary with Pfaff Leasing.

Ownership: Leasing vs Buying

Leasing:
When leasing a BMW in Calgary, the leasing company will remain the owner of the vehicle. You will be permitted to use the vehicle for the length of the lease contract. At the end of the lease you will have the option to purchase the vehicle.

Buying:
When you buy a BMW, you will own the vehicle once financing is completed.

Initial Costs: Leasing vs Buying

Leasing:
When starting a lease, you may pay “cap cost” reduction (what would be called the ‘Financed Amount’ in a loan), government, or lessor charges. Other costs include insurance, security deposits, the first month’s payment and any prior lease or credit dues remaining.

Buying:
When you buy your BMW, you could pay the full price and purchase the vehicle outright or you could make payments through a loan. Either way, you will be paying sales tax and other government or lender fees and taxes. Other costs include insurance, prior vehicle loan or credit balances, and, if financed by a loan, the first month’s payments and a security deposit.

Payments: Leasing vs Buying

Leasing:
Monthly payments for a leased, new BMW are generally lower as you only pay for the vehicle’s depreciation. Depreciation is measured by the vehicles market value over time and is not tied to the full purchase price of your new BMW vehicle. Rental charges, sales tax, use tax and other affiliated fees are also associated with leasing a new vehicle.

Buying:
Monthly payments for financed purchase of your new BMW are often higher due to paying for the entire price of the BMW, including taxes and fees. Though, you will own your BMW at the end of your loan’s term.

Vehicle Return: Leasing vs Buying

Leasing:
At the end of the lease term, there are several options. You could return your vehicle and get a new leased vehicle, you could walk away from leasing altogether, or, if you really enjoyed your vehicle, you could purchase your leased BMW at the end of your term.

Buying:
When the last payment for your vehicle’s loan leaves your account and you receive your BMW title, you OWN your vehicle! It’s up to you to keep it, sell it or trade it.

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So, should you lease your BMW in Calgary? Hopefully this information has given you some answers! For more information about how you can lease a BMW in Calgary with Pfaff Leasing, please feel free to continue browsing through our website. Click here to find our contact information or to fill out our contact form.