Buy vs. Lease: Choose MINI financing that fits your lifestyle here at MINI of Knoxville

At MINI of Knoxville, we know that settling on a model, trim, and color scheme for your new MINI is an exciting milestone in the car shopping process. But before you drive off in it, you'll have to work out whether you want to lease your new MINI or buy it outright. Now, the choice to buy or lease a new MINI is one of those looming MINI finance questions that many Knoxville drivers don't want to think about until they come right up against it. Luckily, with our years of MINI financing expertise, we can help you find the solution that best fits your budget and gets you behind the wheel of the new MINI of your dreams.

Now, if you're looking to drive a new MINI but don't want to lock into a long-term commitment as you would with buying a new car, you may just want to go for a MINI lease. Leasing affords you some pretty favorable financing terms, typically offering lower monthly payments and contract terms of 24 to 48 months. That means you could basically drive a new MINI every few years if you felt like it. Best of all, since MINI leasing means essentially paying to drive the car during the term of lease, you'll sometimes find that you can lease a new MINI with little or no down payment. However, if you're planning some big road trips in the future, you should also know that leasing comes with a mileage limit, so it's a better financing plan for folks who spend most of their time in the greater Knoxville, TN area.

On the flipside, if you choose to finance your MINI with a car loan to buy it outright, you'll be building equity in the car over time. Now, this will typically mean a larger down payment, higher monthly payments, and a longer term loan, but all that money goes towards your total ownership of the car. Now, ownership of a MINI comes with some significant benefits, like freedom from any mileage limitations and the ability to customize your car as you so choose. So, if you see some of those John Cooper Works Parts at our service center that you've simply got to have for your MINI, you'll be free to use them. However, it stands to be mentioned that when you choose to buy your MINI, you'll be responsible for any maintenance and repair costs when the original warranty runs out, so just keep that in mind in the long run.

Fortunately, where you choose to lease or buy a new MINI, you'll find plenty of ways to get a great deal on financing your next car here at MINI of Knoxville. Swing by our showroom today to chat with our team about our latest MINI leasing incentives and financing specials.

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