Morgan Highfield & Land

BMW i5

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About BMW i5 Leasing

Leasing a BMW i5 can be an exciting and practical way to experience the luxury and cutting-edge technology of an electric vehicle. Imagine walking into the BMW dealership, and there she is, the sleek and futuristic i5, just waiting for you to take her on the road. But before you hop in and hit the accelerator, let’s take a closer look at the pros and cons, shall we?

The Upside:

Leasing offers several advantages that might make it an appealing option for you:

Lower Monthly Payments: One of the biggest perks of leasing is that your monthly payments are usually lower compared to buying. You’re essentially paying for the car’s depreciation during the lease term, not the full purchase price.

New Car, New Tech: With a lease, you get to drive a brand-new car with all the latest technology and features. In the case of the BMW i5, you’ll have access to BMW’s innovative electric vehicle technology, which is pretty cool!

No Long-Term Commitment: Leases usually last for a few years, so if you enjoy switching up your ride or don’t want to be tied to a long-term ownership, leasing gives you that flexibility.

Potential Tax Perks: If you’re a business owner, leasing might offer some tax advantages, but it’s essential to consult a tax professional to understand the specifics for your situation.

The Flip Side:

Leasing also comes with some considerations you should be aware of:

No Ownership Equity: Unlike buying, where you build equity in the car over time, leasing doesn’t give you ownership at the end of the term. Once the lease is up, you hand the keys back to the dealership.

Mileage Restrictions: Most leases have mileage limits, and if you go over them, you’ll be charged for the extra miles. So if you’re a road trip enthusiast, you might want to keep this in mind.

Wear and Tear Worries: Leases often come with guidelines on acceptable wear and tear. If the car has more wear than considered normal, you might have to pay for it when you return the vehicle.

Early Termination Fees: Life can be unpredictable, and sometimes plans change. If you need to end the lease before the agreed-upon term, you may face early termination fees

In the end, leasing a BMW i5 can be a great option if you want to enjoy the benefits of a new electric vehicle without the commitment of long-term ownership. However, if you prefer building equity and customizing your ride, buying might be a better fit. Take your time to weigh the pros and cons, ask questions at the dealership, and find the option that aligns best with your preferences and lifestyle. Happy driving! 🚗⚡

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Regulatory Information

Morgan Highfield & Land and Prestige Car Leasing are trading names of Yorkshire Vehicle Finance Limited who are a credit broker, not a Lender. Yorkshire Vehicle Finance Limited is Authorised and Regulated by the Financial Conduct Authority - FRN 665369.

Morgan Highfield & Land is not an independent financial advisor and does not offer qualified tax advice. Any general information found on this website or otherwise is no substitute for your own qualified tax or legal advice. Lenders may pay us for introducing you to them.


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