Many of our customers visit with one of our BMW dealers unsure of whether to lease a car or buy one outright. Fortunately, at BMW of Peabody, we believe it is our responsibility to provide our customers with all of the potential options, especially when it comes to leasing to own.
Let’s start with the basics. An auto loan is essentially temporary ownership of a vehicle wherein you agree to return the vehicle once the lease is up. Lease terms or the length of a lease can vary but they tend to last between a year or two. Auto leases are great because you don’t have to feel committed to a specific model, but what do you do if you end up loving the car that you’ve leased?
Well, auto leases can be extended of course, but you can also lease to own. Vehicles like the 2020 BMW X5 make for a lot of satisfaction with buyers, so it makes sense why leasing to own can be so popular. Within a lease agreement, you can include an option to purchase the vehicle once the lease agreement is up. This means that at the end of your lease term you, can apply for financing and purchase the vehicle from the dealership, making it your own. Leasing to own can be a great way to not just find the car that meets your needs, but to also make sure that you love the car that you’re buying.
Whether you want to lease a BMW X5 or are looking to purchase one of our vehicles outright, our team is here to help. From the test drive to the financing, our experts at BMW of Peabody will be behind you every step of the way.