Leasing a vehicle comes with many benefits. The greatest benefit of leasing a car is lower out-of-pocket costs when acquiring and maintaining a BMW. When leasing, you can put little or no down payment and roll your upfront taxes and fees into the monthly payment. You can usually get more features and options that you wouldn’t necessarily get if you financed. If you’re trying to stay within a certain payment range and you get the pleasure of owning a new car every few years, leasing may be the best option for you. In addition, most lease terms keep you within the warranty and maintenance period, so you don’t have to worry about service costs.
You’ve chosen to lease your BMW for all the benefits and now your lease is coming to end, so now what?
As the largest BMW lease return center in Schaumburg, we’ll walk you through 3 options when your lease is maturing.
- Turn it in and walk away
- Buy it for the residual value
- Lease or buy another BMW
Turning your lease in and walking away gives you the option to get into another brand. As much as we would love for you to continue your driving journey with BMW, we understand the excitement of something new.
Buying your current lease at its residual value, which is the car's estimated worth at the end of your lease term and is in your contract terms, is another option. If you fell in love with it and want to continue with ownership, the team at Patrick BMW can provide you a cash buyout figure, finance options & protection plans to cover you during the new ownership.
You can lease or buy a brand-new BMW. As mentioned earlier, one of the benefits of leasing allows you to own a new car every few years. Another perk is offered by BMW USA called Loyalty Bonuses. Bonuses applied to the lease or purchase of a new BMW for current or previous BMW owners. The amount of the bonus varies based on model. Our management team will provide new leasing options that include the loyalty bonuses.
We know you don’t do this every day, but we do so whatever your choice will be, the team at Patrick BMW will help make it simple.
If you’d like to learn more or would like to speak with a Patrick BMW Client Advisor about your options, simply click below to read more, call us or submit an inquiry. We’re happy to help.