The BMW X1 is practical, sporty, sleek, and boasts a somewhat quirky styling. It makes for the perfect SUV, and you couldn’t go wrong with this one. When it comes to funding our car, things get a bit tricky and overwhelming.
Regarding this beauty, leasing it is an excellent choice and something you could consider. Here’s why:
Leasing vs. buying
Car leasing gives you the chance to own the car you want for a specific period. You will pay a monthly payment for rent. However, you do not own the vehicle, and when the lease period is over, you do not get to keep the car either.
Depending on your wants and needs, you can either choose a basic lease or an all-expenses-paid lease. You also aren’t tied down to the vehicle when you lease it. You can upgrade the car every few years or so.
On the other hand, when you buy a car, you own it and can make your own decisions about insurance and the lot. Buying is often more expensive as well.
Leasing a BMW
Leasing is a great way to have a vehicle that matches your lifestyle. Even though you don’t necessarily possess the car, it does come with many advantages that aren’t usually available when buying the vehicle.
Firstly, a lease offers low monthly instalments and low-interest payments. The cost of maintenance and repairs can be reduced as well. And BMW has some excellent leasing options available.
Prestige Lease
BMW has a Prestige lease option. It’s the perfect way to experience driving a BMW without tying up capital or owning the vehicle. It can offer businesses flexibility and includes some tax benefits, repayments, and a fixed interest rate for the lease period.
This type of lease is specifically for business. The term is generally 24-60 months. You can choose between demos, new, or used cars. And a final lump sum payment will be required.
BMW Full Circle
This is BMW Guaranteed Future Value (GFV). You will know upfront how much the vehicle will be valued at the end of your lease term. This gives you freedom and flexibility to either upgrade or return your BMW. You can also pay out the GFV and then keep the BMW.
This applies to all BMW models and leases.
Pros of leasing
- You will not have to pay the full price of the car upfront.
- You can upgrade your car hassle-free at the end of your lease agreement.
- The monthly payments are more affordable.
- You are not obligated to buy the car when your lease is over.
- Maintenance and running costs are generally factored into the payment amount.
- You could take out a novated lease and pay less tax
- A portion of the financing and depreciation costs can be deducted from your taxes.
BMW x1 features
The BMW X1 is an excellent choice and has numerous specs and features with everyday practicality in mind. It makes for a great personal or company car. It is available in diesel engines and petrol engines.
The X1 has a turbocharged 2.0-liter four-cylinder mated to an eight-speed automatic transmission and has a premium and top-class interior. It also has a lot of storage space, optional adaptive suspension, apple car play, and various other options.
FAQ
Is car leasing a good idea?
Yes, it can be. It depends on your personal circumstances. But it has multiple advantages, the monthly payments are lower than on a loan, and you can find good car deals.
Is the BMW X1 a reliable car?
The X1 comes in sixth place out of 11 luxury compact SUVs, and the reliability rating is 3.5 out of 5.0. Various repairs can be expected, but the issues are generally not that severe.
Is the BMW X1 expensive to maintain?
Maintenance and repairs generally cost more than other SUVs, and there is a 54.61% chance that the BMW will require a major repair during its first ten years of service.
What is the Cargo capacity of the BMW X1?
About 505 L, it can easily fit a few large suitcases, and more room can be made by putting the rear seats down.
Does BMW X1 have Airbags?
The BMW X1 has six airbags by the front passenger, driver’s seat, front passenger side, two curtains, and driver’s side.
Afterthought
The BMW X1 is an excellent car, whether it’s for your company or personal use. It is safe and practical and can fulfil most (if not all) of your wants and needs.
Leasing a BMW is also a great choice and comes with various advantages that you just can’t ignore!
