E90Post
 


GTB Performance
 
BMW 3-Series (E90 E92) Forum > BMW E90/E92/E93 3-series General Forums > New & Preowned BMW Ordering / Pricing / Tracking Information Forum (including European Delivery) > Finance all the way baby



Reply
 
Thread Tools Search this Thread
      04-21-2008, 08:41 PM   #1
Solonng
Captain
 
Drives: Monacco Blue 335i coupe
Join Date: Apr 2008
Location: Florida

Posts: 829
iTrader: (0)

Finance all the way baby

After a month of debating whether to buy or lease, I'm going to go with the buying route. At 3.9% APR, its pretty hard to borrow money that cheaply if you think about it. A mortgage costs at least 5 1/4 and it has variable costs attached to it such as maintainance costs, taxes..blah blah blah..Anyway, the 335i is a depreciating asset but thats life. Our bodies are depreciating assets lol..Anyway, I hope that I make a right decision. I just don't like to rent a car..
Solonng is offline  
0
Reply With Quote
      04-21-2008, 08:52 PM   #2
LACSTER
Major General
 
Drives: Hybrid
Join Date: Nov 2007
Location: oc

Posts: 8,176
iTrader: (64)

You should put $10,000 down as well
LACSTER is offline  
0
Reply With Quote
      04-21-2008, 08:54 PM   #3
Solonng
Captain
 
Drives: Monacco Blue 335i coupe
Join Date: Apr 2008
Location: Florida

Posts: 829
iTrader: (0)

I put a little more than 10k..only to think that people can buy a $200k home with zero down..
Solonng is offline  
0
Reply With Quote
      04-21-2008, 08:55 PM   #4
shift330
Blue Force Tracker
 
shift330's Avatar
 
Drives: 2010 Hyundai Genesis Coupe
Join Date: Feb 2008
Location: Sierra Vista, AZ

Posts: 1,377
iTrader: (6)

Garage List
2006 330i  [0.00]
You can have more fun with a financed car You don't have to worry about mileage limits and mod restrictions
__________________

Stay safe 855th MP Company! Hosmer/Espinoza you're my boys!!
shift330 is offline   United_States
0
Reply With Quote
      04-21-2008, 08:59 PM   #5
Solonng
Captain
 
Drives: Monacco Blue 335i coupe
Join Date: Apr 2008
Location: Florida

Posts: 829
iTrader: (0)

True and you can pretty much hedge against higher interest rates..I can live with 4% if inflation runs at 3-4%..
Solonng is offline  
0
Reply With Quote
      04-21-2008, 09:06 PM   #6
LACSTER
Major General
 
Drives: Hybrid
Join Date: Nov 2007
Location: oc

Posts: 8,176
iTrader: (64)

Sounds like you're in the mortgage biz? I was never big on leasing at first but the realized that I never keep any of my eights cars for more then 3 years. I've leased my last two beemers and went with 15k a year with plenty driving. Cars are the biggest depreciation but might get beat this year with the mortgage meltdown! UPSIDE DOWN UNIT!
LACSTER is offline  
0
Reply With Quote
      04-21-2008, 09:15 PM   #7
Solonng
Captain
 
Drives: Monacco Blue 335i coupe
Join Date: Apr 2008
Location: Florida

Posts: 829
iTrader: (0)

Its true that cars depreciate but I think that you get more utility and safety out of a BMW. How do you like leasing a car? For me, the maint. plan is worth alot since I can budget my cash flow. My parents taught me that a house is not an investment. They said how can you justify it being an investment if you keep plowing money into it for the next 30 years. Lol, thank god for my awesome parents.
Solonng is offline  
0
Reply With Quote
      04-21-2008, 09:22 PM   #8
AndrewAZ
Major
 
AndrewAZ's Avatar
 
Drives: 335i
Join Date: Jan 2007
Location: CA

Posts: 1,244
iTrader: (0)

Quote:
Originally Posted by shift330 View Post
You can have more fun with a financed car You don't have to worry about mileage limits and mod restrictions

Meuh I realized I only keep my cars for 1-2 years..

With German cars like BMW and Mercedes I realized that its not a smart thing to keep them around after the warranty is out.. You will drop that car fast after you start paying for junk. (Fun just went out the window)

Not to mention if you car is a mechanical/electrical disaster like mine is you dont have to deal with it for a long time.

Plus the residual rates placed on the leased cars for both companies are unrealistic for the market. Most leases end up being sent back to be auctioned because the residual values are set again artificially high in order to move the cars.

Last but not to be over looked and a very important thing for me is if you get into an accident.. With a lease you dont have to worry about that depreciation from an accident, and if its not totaled and they fix it you arnt stuck with a car that doesnt drive right for very long and again you can drop it off when your lease is over and not have to worry about trying to sell a crashed car..

I am sure a lot of folks who have recently been rear ended wish their car didnt have that on the car fax.. Your talking a large drop in value.

Did I mention tax write off?

I prefer to "rent" than to buy a car...
AndrewAZ is offline  
0
Reply With Quote
      04-21-2008, 09:25 PM   #9
Socratesbmw
Private First Class
 
Drives: 2007 335i Coupe
Join Date: Mar 2007
Location: Texas

Posts: 139
iTrader: (0)

Owners Choice is the way to go. Best of both worlds...
Socratesbmw is offline  
0
Reply With Quote
      04-21-2008, 09:28 PM   #10
LACSTER
Major General
 
Drives: Hybrid
Join Date: Nov 2007
Location: oc

Posts: 8,176
iTrader: (64)

nice breakdown man
LACSTER is offline  
0
Reply With Quote
      04-21-2008, 09:29 PM   #11
Lucid4000
Major
 
Lucid4000's Avatar
 
Drives: 335i AW Sport 6MT
Join Date: Jan 2006
Location: NYC!!

Posts: 1,191
iTrader: (5)

Garage List
2006 330i Sport  [0.00]
Send a message via AIM to Lucid4000
Quote:
Originally Posted by shift330 View Post
You can have more fun with a financed car You don't have to worry about mileage limits and mod restrictions
I lease... and I don't worry about any of that. Also, I don't have to worry about how I drive my car. As they say... I drive it like I stole it...
__________________

Mobile Addictions
718.877.7700 or info@mobile-addictions.com
www.mobile-addictions.com
Lucid4000 is offline   United_States
0
Reply With Quote
      04-21-2008, 09:31 PM   #12
pony_trekker
Second Lieutenant
 
pony_trekker's Avatar
 
Drives: 535 x drive
Join Date: Jul 2005
Location: NY

Posts: 275
iTrader: (0)

Quote:
Originally Posted by Solonng View Post
I put a little more than 10k..only to think that people can buy a $200k home with zero down..
$200k is a decent down payment round here.
pony_trekker is offline  
0
Reply With Quote
      04-21-2008, 09:35 PM   #13
Solonng
Captain
 
Drives: Monacco Blue 335i coupe
Join Date: Apr 2008
Location: Florida

Posts: 829
iTrader: (0)

I agree but for me owning is better. The fact that once I pay off the loan, the car is mine. I don't have a business so it would hard to write off the lease expense. It is true that if a car will not drive right after an accident. I know that after letting this girl drive and wrecked my benz. Either way, its nice to see my the title to my car sitting in my deposit box. Lol
Solonng is offline  
0
Reply With Quote
      04-21-2008, 09:41 PM   #14
Payroll
Second Lieutenant
 
Payroll's Avatar
 
Drives: '08 e92 335i
Join Date: Jan 2008
Location: little place called none of your Goddamn business

Posts: 231
iTrader: (1)

can't go wrong with 3.9%. I financed mine two months ago at 4.9% and I thought I was getting an attractive rate.
__________________
2008 335i | Space Gray | Blk & Gray Poplar | 6 MT, M3 Lip, Painted Reflectors, Huper Optik 30 (35%), V1 Hardwire, Pussy Magnet
Payroll is offline   United_States
0
Reply With Quote
      04-21-2008, 10:55 PM   #15
Revlis
Now With 33% MORE Sarcasm Free!
 
Revlis's Avatar
 
Drives: 335is
Join Date: Feb 2007
Location: Seattle Area, WA

Posts: 3,446
iTrader: (0)

Umm, Yay You?!

Get over yourself, the Lease vs Buy thing has been bounced around here for years.

There really isn't a right or wrong, but there is some wannabe junior elitism displayed here that is really cute given that we are talking about mid range cars...

We can all argue that financing is just as much a waste of money as leasing. The only difference is that at the end of your 5-7 year finance term you've got an old car in the driveway. Where as the lease folks would be on their 2nd or third brand new car.

The smart thing to do would be to buy a pre-owned Toyota Corolla or something horrible that costs $14k gets you from here to there and will last forever. None of us choose that option, not because we are clever or financial geniuses, nope we drive our cars because we love to drive, or for some because they want that little emblem on the hood to help them feel important or special...
__________________

'13 TiAg over Coral, 335is | DCT | Prem | L7 | Nav/Idrive | CA | 19" "-------"

A BMW is Just a Car, it doesn't make you smart, handsome, cool, or wealthy. Get over it.
Revlis is offline   United_States
0
Reply With Quote
      04-22-2008, 12:06 AM   #16
3er858
First Class Privates
 
3er858's Avatar
 
Drives: AW LCI, Daytona 675
Join Date: Oct 2005
Location: The AV

Posts: 600
iTrader: (0)

buy or lease... what ever fits your lifestyle... I think I'll buy my 335i because I want to mod it, and living in Socal, I don't want to have to watch how many miles I'm putting on it... It would be nice to give it back to the dealer in a few years and get an M3 or GTR though
__________________
LCI 335i | AW/Blk/Aluminum | 6sp | ZSP | Nav | Logic7| CA

LTBMW | VMR V710's| Nitto | H&R | LUX H8's | M-Sport Front | Perf. Rear | Matte Black Grills | M3 Lip | JL CF Splitters | BMS | Muffler Delete
3er858 is offline   United_States
0
Reply With Quote
      04-22-2008, 12:51 AM   #17
BES335xi
Colonel
 
BES335xi's Avatar
 
Drives: FBO+ N54xi
Join Date: Mar 2008
Location: Queens, NYC

Posts: 2,133
iTrader: (4)

Garage List
03/07 E90 335xi  [0.50]
i bought my car i put 30k down, im planning to trade it in after a year of my warranty ends and buy an m3 sedan and with that i could live with it for 10+ years and be happy i think...
__________________
JB4+usb | P3 Vent Boost Gauge v2 | BMS OCC | BMS DCI | AMS FMIC | AR xi CL DP's | BT Tool | Edibias/NCSExpert/INPA BMW Coding | Cyba Quad Exhaust tips | M-Tech Rear & M3 Front Bumper | Red Cyba Air Scoops | Blacklines | Vinyl Overlays | ACS Roof Spoiler | Matte Black Grilles | LED Side Mirrors | Rear Euro Fogs | etc..
.
BES335xi is offline   Albania
0
Reply With Quote
      04-22-2008, 02:11 AM   #18
flush01
Major
 
Drives: 33m@%#ing5
Join Date: Feb 2006
Location: toronto

Posts: 1,420
iTrader: (0)

Quote:
Originally Posted by Solonng View Post
I agree but for me owning is better. The fact that once I pay off the loan, the car is mine. I don't have a business so it would hard to write off the lease expense. It is true that if a car will not drive right after an accident. I know that after letting this girl drive and wrecked my benz. Either way, its nice to see my the title to my car sitting in my deposit box. Lol
bank owns the car either way until it's payed off... and once it's payed off it's no longer under warranty, dropped in price more then 50% and its a 4-5 year old car... i used to be anti-lease before, but now my opinion changed
flush01 is offline  
0
Reply With Quote
      04-22-2008, 02:15 AM   #19
thr33fivei
Captain
 
thr33fivei's Avatar
 
Drives: 335i
Join Date: Jan 2008
Location: LA

Posts: 772
iTrader: (3)

Quote:
Originally Posted by 3er858 View Post
buy or lease... what ever fits your lifestyle... I think I'll buy my 335i because I want to mod it, and living in Socal, I don't want to have to watch how many miles I'm putting on it... It would be nice to give it back to the dealer in a few years and get an M3 or GTR though
You read exacly my mind...
thr33fivei is offline  
0
Reply With Quote
      04-22-2008, 02:19 AM   #20
thr33fivei
Captain
 
thr33fivei's Avatar
 
Drives: 335i
Join Date: Jan 2008
Location: LA

Posts: 772
iTrader: (3)

Saw the new GTR on black on import night @ covention center weeks ago it wasn't that bad looking
thr33fivei is offline  
0
Reply With Quote
      04-22-2008, 11:14 AM   #21
E90_driver
New Member
 
Drives: 1998 Honda Civic
Join Date: Feb 2006
Location: Minneapolis

Posts: 25
iTrader: (0)

I would love to lease but wouldn't make sense to me though. I average 18-20k miles per year. I've owned all my cars and drive them until they quit. Having a new care every 2-3 years is not extremely important to me...it would be nice but not having a monthly payment is nicer IMO...since buying a BMW would pretty much put me at paycheck to paycheck.
E90_driver is offline  
0
Reply With Quote
      04-22-2008, 11:49 AM   #22
LuisSF
Major
 
LuisSF's Avatar
 
Drives: '13 128i 6mt m-sport
Join Date: Feb 2008
Location: San Francisco

Posts: 1,458
iTrader: (2)

Garage List
2007 328xi  [0.00]
Quote:
Originally Posted by Revlis View Post
We can all argue that financing is just as much a waste of money as leasing. The only difference is that at the end of your 5-7 year finance term you've got an old car in the driveway. Where as the lease folks would be on their 2nd or third brand new car.

The smart thing to do would be to buy a pre-owned Toyota Corolla or something horrible that costs $14k gets you from here to there and will last forever.
That 5-year old car is still worth $6-12,000 (if kept up well and with low enough miles) whereas the leased car after 5 years is not worth anything, as it belongs to the dealer.

Corolla's are about $17k now. Gotta love inflation.
__________________
Would rather take the bus than drive an automatic.
2013 BMW 128i 6MT MGM/CR. M-sport/Premium/Cold, HK, Xenons, Fineline trim, Security System, BMW Assist, BMW SSK and PE. European Delivery 7-12-2013.
SOLD: 2007 BMW 328xi 6MT BSM/Terra
http://www.1addicts.com/forums/showt...future+classic
LuisSF is offline  
0
Reply With Quote
Reply

Bookmarks

Thread Tools Search this Thread
Search this Thread:

Advanced Search

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Forum Jump


All times are GMT -5. The time now is 05:38 PM.




e90post
Powered by vBulletin® Version 3.7.0
Copyright ©2000 - 2014, Jelsoft Enterprises Ltd.
1Addicts.com, BIMMERPOST.com, E90Post.com, F30Post.com, M3Post.com, ZPost.com, 5Post.com, 6Post.com, 7Post.com, XBimmers.com logo and trademark are properties of BIMMERPOST