is the most affordable way to get behind the wheel of the ultimate driving machine—but it’s important to be aware of all the unique costs associated with leasing before you sign on the dotted line.

Buying a car isn’t the only way to drive. For drivers who don’t want the expense of a new vehicle or the maintenance headaches of a used one, leasing is the happy medium. When you lease, you get access to brand-new and even high-end vehicles for a lower cost than a traditional auto loan.

The downside? Leasing comes with more restrictions, and you’ll be paying for convenience and depreciation instead of the car’s actual value.

Car insurance

comparison and broker app

Jerry

is here to break down everything you need to know about leasing a BMW. We’ll look at the leasing process, associated costs and services, and what to do when that lease agreement comes to an end. And if you decide to go forward with a lease, we’ll help you find your own answer to the next big question: how can you save on

BMW insurance costs

MORE: BMW car-buying guide

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How to lease a BMW

Leasing a BMW is a fairly straightforward process—but don’t just head to the nearest dealership and sign up for the first car you see! Take your time and follow this checklist to get the best deal on a BMW lease:

Start by checking your credit score. In general, you’ll need a higher credit score to lease a car than to finance one—to lease a BMW, your credit score should be at least 700.

Determine your leasing budget. Your

monthly payment on a car lease

should make up no more than 15% of your monthly income. If you make $4,000 a month, you can afford a lease payment up to about $600 (including taxes and fees).

Estimate how much you can pay upfront. Most BMW leases come with steep up-front costs that include a sizable

down payment

, usually a few thousand dollars.

Calculate your annual mileage. Most leases come with a mileage limit of 10,000 to 15,000 miles each year. If you’ve got a long daily commute or plan to take your BMW on a big road trip, consider looking for a high-mileage lease that allows you to drive up to 20,000 miles per year.

Once you’ve figured out your finances, it’s time to

compare lease offers

at your local BMW dealership. If you’re looking for the cheapest BMW lease options, stick to one of the more affordable BMW lease offers, such as a

228i Gran Coupe

or an

X1 sDrive28i

. But if your budget has a little more room for fun, you may even be able to afford a sporty M Series!

Be aware that the dealer will try to talk you into adding expensive options, such as cosmetic upgrades and extra accessories. Having a budget before you head to the dealership can help you avoid the trap of the unnecessary add-on and keep your leasing costs low.

The final step: shop for insurance

Car insurance won’t be included in your lease agreement. When you’ve settled on the BMW lease that fits your budget, you’ll need to purchase an insurance policy—and

Jerry

can help you do it in record time!

Fill out a few simple questions (that take roughly 45 seconds), and Jerry will compare quotes from 50+ top insurance providers. The best part? The average Jerry driver saves $887 a year!

MORE:

How to calculate a car lease payment

How much does a BMW lease cost?

Leasing a BMW is more affordable than buying one outright—but how much more affordable? The exact cost to lease a BMW will depend on a number of factors, including:

The model you choose to lease

Your negotiated selling price

Your lease term

Money factor (i.e., the interest rate you pay to lease the vehicle)

Any additional accessories or options you include in your lease agreement

Sales tax in your state

Lease offers vary throughout the year, but in general, you can expect your monthly payment for a 36-month lease to fall between $389 for a

228i Gran Coupe

and $1,929 for an M8 Competition convertible. However, you’ll need to take into account the other costs that contribute to the amount due at signing: your down payment, acquisition fee, and additional fees and taxes.

Let’s look at an example. To lease a 228i Gran Coupe, you’ll pay about $389 a month, but your up-front costs will include:

First month’s payment: $389

Down payment: $3,550

Security deposit: $0

Acquisition fee: $925

In total, you’ll have $4,864 due at signing for your new 3 Series—and that’s not including sales taxes, optional add-ons, or other factors that could increase your actual costs.

By contrast, the amount due at signing for an X2 sDrive 28i SUV is just $3,899, even though the manufacturer’s suggested retail price (MSRP) is over 1,000 more than the 2 Series! That’s why it’s important to take more than just the monthly payment into account when looking at your lease options.

Services included in a BMW lease

One advantage of a BMW lease is that you’ll have routine maintenance costs covered for most or all of your lease term. All leased BMWs from 2017 or newer come with BMW Ultimate Care for three years or 36,000 miles—whichever comes first.

This complimentary maintenance program includes maintenance for the following components of your leased BMW:

Engine oil

Engine filter

Brake fluid

Cabin microfilter(s)

Engine air filter(s)

Spark plugs

Remote control/key battery

Vehicle check

Fuel filter (for diesel engines only)

Check

BMW’s website

for a complete list of what’s covered (and what isn’t).

Another potential perk of BMW leasing is optional BMW Lease-End Protection, which waives charges for excess wear and tear at the end of your lease up to $5,000. Although this protection isn't available in all states, it could save you some extra cash at the end of your lease—and provide peace of mind if leasing makes you feel like you need to drive on eggshells.

Key Takeaway BMW monthly lease payments range from $389 to just under $2,000, but it’s also important to take into account your up-front costs and complimentary services.

What to do when your BMW lease is up

At the end of your BMW lease, you’ll have a choice to make: you can either return the vehicle, following BMW’s simple return checklist, or purchase the car outright if you’ve fallen in love.

How to return a leased BMW

To return your leased BMW, all you need to do is:

Schedule a

lease return inspection

through My BMW (or head to your favorite BMW Center)

Make any necessary repairs required after inspection

Pay a $750 fee for any overdue services (such as oil changes or brake services)

Purchase additional miles if you’ve exceeded your mileage cap

Contact your local BMW Center to schedule the final return and inspection

No matter what condition your car’s in when you bring it back, you’ll have to pay a $350 disposition fee at the end of your lease—unless you lease or purchase another BMW within six months.

How to purchase a leased BMW

Goodbyes are hard—that’s why BMW also allows you to buy the car you’ve been leasing. You can work directly with

BMW Financial Services

to buy out your lease, or go to your bank or credit union for an auto loan.

MORE:

Is it better to lease or buy a car?

How to find affordable car insurance for a BMW

No matter what BMW you lease, you’ll need to buy a

car insurance

policy that matches your car in power, convenience, and financial smarts. That’s why you need to shop for insurance with

Jerry

—the No. 1 rated insurance app and the only super app for car owners.

Saving on

BMW insurance costs

, even for a leased vehicle, is easy with Jerry: just download the app, answer a few simple questions, and you’ll get customized quotes from 50+ top insurance providers in under a minute. On top of hands-on, intuitive support from Jerry’s team of insurance geniuses, you could get an average of $887 a year in insurance savings!

“Insurance companies originally charged me $189 while driving my BMW 300 miles per year. Thanks to
Jerry
, I only pay $56! I’m so happy.” —Ray T.

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FAQs

Is BMW leasing worth it?

Whether a BMW lease is worth it depends on your finances and your priorities. If you want to be able to make your car your own, a lease probably isn’t the best choice. But if you’re not wild about commitment and just want affordable access to the best cars, leasing may be the ideal option for you.

What’s the cheapest BMW you can lease?

The exact cost of leasing a BMW depends on a lot of factors, from local sales tax and negotiated selling price to your credit score. In general, though, you can expect the lowest monthly payment with a 228i Gran Coupe and the lowest up-front costs with an X1 sDrive28i.

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