Ask the Experts in Boulder CO

Lease VS Buy

What is the difference between financing and leasing?

A financing agreement is an auto loan designed to allow you to pay off the BMW to a bank or lending institutions using monthly increments. Once full balance of the vehicle is paid off, it is yours to own entirely! A lease agreement is similar to a rental agreement and involves a contract to drive then vehicle for a pre-set number of miles for a certain time period, with a down payment and monthly payments like an auto loan. Once the lease contract is up, you can bring the BMW back to us in Boulder and choose another one to lease, or you may even work out a financing contract if you do not wish to give the vehicle up for your commute to Louisville.

    

Should You Buy New or Used?

The choice of new or used is entirely dependent upon what you wish for your car. Aside from the style and sophistication of a new BMW near Longmont, buying a new car offers some excellent finance options, with lower interest rates if you qualify. In a new BMW, you will find a lot more technology and you always have the option of adding more through extra trims and packages.

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However, should Broomfield drivers like you want to keep it simple, you may find a lot of useful features in a pre-owned car in Boulder. Used cars are often preferred for their simplicity and their affordable price, with more savings to be enjoyed in the long-term through insurance incentives.

What Do You Need to Know Before Applying for Credit?

An auto loan or lease agreement involves a check of your financial history and credit rating, so it is important that you know all there is to know about these subjects before you apply. Ensure that any outstanding debts which may impact your credit are thoroughly resolved or are in-progress. It is also essential that Lafayette drivers like yourself know or have a good idea of which vehicle you would like from Gebhardt BMW before applying as the credit approval process may impact your score itself, thus, multiple credit checks are not advised. Fortunately, all of this information can be obtained online from your home in Superior.

If you have any other questions, do not hesitate to contact us here at Gebhardt BMW in Boulder CO. Then, schedule a test drive and see us here on Valmont Road, just a short drive away from Erie. See you soon!