Why Lease an EV? 5 Hidden Advantages

Many BMW drivers prefer an EV lease instead of a loan for their luxury electric vehicles. Leasing has many advantages over purchasing, and several of them are financial benefits. Here are a few reasons you might want to lease your next EV from the experts at Casey BMW.

Drive the Newest Models

An EV lease generally lasts about two or three years. When the lease expires, you can trade in your old model for a brand-new one. This means you’ll get to drive the newest and most cutting-edge BMW EVs.

Reduced Upfront Costs

Purchasing a vehicle involves a large down payment, usually around 20% of the sticker price. When you lease, your upfront costs will be much lower: just cover expenses like the first month’s payment, security deposit, and registration and licensing fees.

Wallet-Friendly Monthly Expenses

Monthly EV lease costs are almost always less than monthly car loan payments. A loan involves the principal plus interest, but lease payments are usually based on the vehicle’s depreciation value during the lease life.

Lower Routine Maintenance Costs

New BMW EVs are high-performing, finely-tuned driving machines that rarely need anything more than routine maintenance—plus, new vehicles are typically covered under robust warranties. That changes the maintenance and repair equation considerably compared to the longer-term nature of financing and purchasing a car.

EV Tax Credit

It’s harder now to buy an EV and get the federal tax credit. However, if you meet the criteria, a leased BMW EV qualifies.* Our finance professionals are here to help.

Get a Custom EV Lease in Newport News, VA

Is a BMW EV lease right for you? Visit our BMW dealership in Newport News, VA, to chat with our financing professionals. We’ll create a custom package for you! *While this information is correct at the time of writing, rules and regulations can change at any time. Speak to your BMW dealer for details, terms, and conditions.