Buy or Lease at BMW of Wichita
You own the vehicle and owe no additional payments after the terms of your finance agreement have been met. When it's time to upgrade, you can trade in your car to offset the cost of a new one.
You get the benefit of driving a car that is a recent model year, usually with low mileage. At the end of your lease agreement you can either purchase the vehicle or lease another car.
Depending on the total cost of the car, the initial down payment may be higher than if you were to lease it. The higher the down payment, however, the less you owe over time.
The down payment on a lease depends on the lease agreement and what you would like your monthly payments to be. A lease down payment is typically lower than it would be when buying the vehicle.
You face no mileage restraints and can drive as far as you like every day. This allows more freedom and is more beneficial to people with long commutes.
Your lease agreement will specify annual mileage limits, usually causing you to accrue additional fees for overages.
You can upgrade and swap out various parts at your leisure. This also means that you are responsible for all the maintenance, upkeep and repairs.
The vehicle usually needs to be returned in the same condition it was originally leased in. However, you are not responsible for the long-term care and costs that come with owning a vehicle.