The question of whether car leasing is better than car buying seems to generate significant and animated debate. The two camps and their armies of supporters have some zealots that consider it sacrilegious to think of the alternative. The truth is, that like anything the answer to "what is best?" depends on the car shopper's needs and wants. Once these are determined, then he/she can apply some basic maths to determine whether or not buying or leasing is best.

How often will you be driving the BMW?
One reason you need to know how often you'll be driving is because you need to watch your mileage. When leasing a car, you will have a certain number of miles that you can drive per year. This is figured into the overall cost of the contract. If you exceed these miles, then you will have to pay extra at the end of the contract. Therefore, you need to know approximately the number of miles you'll be driving the BMW and make sure you will be able to comply with the mileage restrictions.

Now that you have answered the above, the following is a rough and simple mathematical calculation that can tell you the benefit of leasing the car that you want or need versus buying a car. What is critical to this is how much the car that you want to drive is likely to depreciate across the period that you want to drive or own the car. If we assume 3 years then you need to:

What style of BMW should you choose?
Deciding which style of BMW would be best for you is mainly a personal choice. Nevertheless, you should consider the purpose of the car. For example, will you be using the car for personal use, business use or both? Considering the purpose of the car will help you make a good practical decision. If it will be a reflection on your business, you need to take this into consideration. If it's purely for personal use, then you only need to worry about choosing something that you truly like.

Yeah, I know. Not what you wanted to hear. But, the fact is cars are a luxury not a right. Your credit is bad so you have to make some sacrifices. No one but yourself (or possibly an ex-spouse) got yourself into this situation. Don't look for nor make excuses as this will only make the lender nervous.And lastly. Yes, you will be paying a higher interest rate than people who have good credit. It is a fact of life. You are a higher risk because of your past credit problems. Suck it up and pay on time. Sooner than you think your credit problems will be behind you and with it the higher interest rates and loan fees you have to pay with it.

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