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Buying vs. Leasing a BMW | Chicago, IL

Buying vs Leasing | Perillo BMW | Chicago, IL

Did you know that nearly one-third of new car shoppers opt to lease?
We’ll compare buying and leasing to show you the pros and cons of each decision.

Leasing


If you choose to lease a new car, you will make monthly lease payments until your lease contract is over (36 months is common). Lease payments tend to be lower than a monthly loan payment would be on the same car. Because of this, many shoppers are able to afford a nicer car with a lease than they could with a loan.

Leasing also usually requires little to no money down, so if you don’t have a lot saved for a down payment, leasing can be a good choice.

One downside to leasing, however, is that lease contracts include mileage limits. If you exceed that limit, you will have to pay a fee for each mile that you go over.

Buying


The majority of car buyers choose to take out a loan to pay for their new car. Just like a lease, you will make monthly payments until the loan balance is paid in full. When the loan is paid off, the car belongs to you outright. You will also need a down payment, typically between 10-20% of the total car price.
 

Buying a car also gives you the freedom to drive as much as you want and make any modifications to the car. However, as your car ages, you will have to pay for any needed maintenance that is outside your car’s warranty.

Contact Us

Have a question? Use the form below to ask us and we'll get right back to you.

Stop by Perillo BMW ,  and we’ll help you decide if buying new or leasing is the best option for you.
Take a look at our current lease specials as well as our great new vehicle pricing today.
Buying vs Leasing | Perillo BMW | Chicago, IL

Hours

  • Monday
    10:00am-8:00pm
  • Tuesday
    10:00am-8:00pm
  • Wednesday
    10:00am-8:00pm
  • Thursday
    10:00am-8:00pm
  • Friday
    10:00am-6:00pm
  • Saturday
    9:00am-5:00pm
  • Sunday
    Closed

Contact Information

1035 N. Clark St.
Chicago IL 60610
Phone: (312) 981-0000
Fax: (773) 348-5503
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