The BMW X5 is generally considered to be one of the most popular cars in its class. However, you may not be sure whether it is better to buy the car outright or lease it for two to three years. In most cases, the choice that you make will depend on your needs and budget.
Lease Payments Tend To Be Lower Than Loan Payments
When you lease a vehicle, you only pay for the depreciation that occurs while you possess it. Therefore, you will likely pay less each month for the right to drive it. However, it doesn’t necessarily mean that leasing a BMW X5 will help save money in the long run.
This is because most leasing companies will charge acquisition and disposition fees that can add hundreds of dollars to the cost of acquiring a vehicle. A leasing company might also charge you for exceeding the yearly mileage limit or for any excess wear or damage that needs to be repaired after the car is returned.
Are You Planning on Owning the Car for Many Years?
If you are planning on owning a vehicle for more than a couple of years, it generally makes more sense to buy it. This is because there are no mileage limits or other restrictions on how you can use the car. Furthermore, you accrue positive equity in the car each time that you make a payment.
If you’re in the market for a new car, visit the official website of Atlanta Luxury Motors at AtlantaLuxuryMotors.com