Autohaus BMW offers a variety of auto financing options for new BMW cars and used luxury cars in the St Louis region. Whether you are looking for a low interest car loan in greater St Louis, or a great lease plan, Autohaus BMW provides an online auto finance application that makes it easy to finance your next new or used car.
If you would like to have us get in touch with you to answer any financing questions, just fill out our financing contact form below. Visit our BMW dealership at 3015 South Hanley Road St. Louis, MO, or call us to speak to an auto loan professional!
In making the decision on whether to buy or lease your new car, it is helpful to understand the primary differences between the two options. As follows is a brief overview for your consideration.
When you buy a car, you pay for the whole vehicle. You will usually make a down payment, pay the sales tax in cash or roll them into your auto loan and pay an interest rate on the balance of the loan. Generally, your first payment is due a month after you sign your contract. This option may fit those who plan to keep their car for a long period of time and have a need to put unlimited miles on the vehicle.
When you lease, you are paying for only what you use of the vehicle. You do not have to put money down and sales tax will be included as part of your monthly lease payment. Your lease payment is determined in part on a money factor that is similar to the interest rate on a loan. You make your first lease payment at the time you sign your contract.
We hope this is helpful to determine which option best fits your situation. Our trained finance staff is available to give you further information about leasing or financing your next vehicle.
3015 S. Hanley RdSaint Louis, MO 63143-3613
Loan payments contribute to the eventual ownership of a vehicle, while lease payments apply only to the short-term use of a car.
Owning a lease vehicle is possible if purchased outright after the lease period ends.
A typical lease period runs between 24 and 48 months.
Three important factors - adjusted capitalized cost, residual value and the money factor - determine the monthly rate of a lease.
Closed-end leases set a fixed residual buy price at the beginning of the term, while open-end deals base the final buy price on a vehicle's actual market value at the end of a lease.
Pay more money down initially to reduce monthly loan payments. Otherwise, a typical down payment ranges between 10 to 20 percent of the total cost.
Many used vehicles require down payments of at least 20 percent and include interest rates between 9 to 10 percent.
Lease agreements usually limit mileage from 12,000 to 15,000 miles annually. Beyond these figures, fees in the range of $0.10 to $0.25 per mile begin to accumulate.
If you plan on customizing your vehicle, you need to finance with a loan. Leased vehicles must be returned under factory specification.