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Leasing is a fantastic option for many prospective car owners. It is typically cheaper than financing and gives you access to new vehicles every few years. Of course, there are some things to be aware of for your BMW lease, and we can tell you everything you need to know at BMW of Asheville.
1. Mileage Restrictions
When you lease a car, it will come with a yearly mileage restriction. Most lease agreements prevent you from driving over 15,000 miles, so if you anticipate driving below those numbers, you should be fine.
However, you also need to remember that if you go over the agreed amount, you will be charged a penalty, which could be as high as 25 cents per mile.
2. Higher Costs with a Longer Term
Nobody wants to be on the hook for large monthly bills. That's why you may be tempted to go for a long lease term, as it will shrink your payments.
While this is true, it will also add more money to your overall costs because you will end up paying more in interest. Aiming for a lease between two and four years is probably your best bet.
3. Early Termination Fees
However long your lease is, you have to be confident that you will be able to see it through. If for some reason you will need to end it early, you could face large early termination fees. Read over your agreement before signing it so you know what you might be on the hook for.
Get in Touch with BMW of Asheville
If you have questions about any of the above roadblocks or another lease concern, get in touch with our BMW dealership near Hendersonville. We're more than happy to help you out!