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BMW 3-Series (E90 E92) Forum > BMW E90/E92/E93 3-series General Forums > General E90 Sedan / E91 Wagon / E92 Coupe / E93 Cabrio > Poll: What Percentage of People Lease or Purchase



View Poll Results: Lease, Financed, Long Term Finance, or Cash?
I leased my BMW, only way to afford it 16 15.69%
I Financed my BMW with as little down payment, I can afford it. 22 21.57%
I Financed my BMW with a big downpayment 10k+ 35 34.31%
I Financed my BMW long term 6-8 years 3 2.94%
I Paid Cash 31 30.39%
Multiple Choice Poll. Voters: 102. You may not vote on this poll

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      09-26-2009, 10:40 AM   #1
KevinJ
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Poll: What Percentage of People Lease or Purchase

Ignore the "only way to afford" text on leasing. Should have had two options for leasing.

It seems with the price of the 3 series skyrocketing over the years since I purchased my 2001, I think most people are leasing to be able to afford one. There may be exceptions were people really can afford a $800-900 car payment but this seems to be getting excessive for a relatively small car.

I've never leased a vehicle but starting to think about it considering if I get a 2010 coupe in March, within three years there might be a new coupe.

Last edited by KevinJ; 09-26-2009 at 11:06 AM. Reason: Change poll option
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      09-26-2009, 10:42 AM   #2
Kiemyster
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i'd say over a quarter of sales are leased.
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      09-26-2009, 10:51 AM   #3
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I used to lease until I realized that I was not using my money very wisely. I'm sure the lease vs buy discussion has been thoroughly covered. A lot of people have noted that BMW's lease deals are not nearly as attractive as they used to be since they adjusted their residuals. BMW took a beating in the leasing market by inflating residuals and then having lots full of overvalued trade-ins.
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      09-26-2009, 10:51 AM   #4
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Leased, but has nothing to do with that being the only thing I can afford. I just like the idea of having a new car every two years, and in that respect I think leasing is the more sensible option.
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      09-26-2009, 10:55 AM   #5
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Purchased.
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      09-26-2009, 11:00 AM   #6
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LOL at describing leasing as the "only way to afford it." Sometimes it just makes sense depending on the deals.

Obvious stupid is obvious.
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      09-26-2009, 11:00 AM   #7
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Purchased. With MY money. In full
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      09-26-2009, 11:39 AM   #8
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Quote:
Originally Posted by kugasman View Post
BMW took a beating in the leasing market by inflating residuals and then having lots full of overvalued trade-ins.
...which yields a bumper crop of nice clean CPOs, one of which I got last Spring with $10k down and .9%.
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      09-26-2009, 11:49 AM   #9
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The "afford it" verbiage, ruined this poll. My guess is that the people that lease will not answer this poll so this poll is worthless.
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      09-26-2009, 11:49 AM   #10
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how do you guys pay cash? doesn't the IRS check?
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      09-26-2009, 11:51 AM   #11
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straight up cash no paper trail jk
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      09-26-2009, 11:55 AM   #12
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      09-26-2009, 12:01 PM   #13
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Quote:
Originally Posted by cb4 View Post
The "afford it" verbiage, ruined this poll. My guess is that the people that lease will not answer this poll so this poll is worthless.
totally.
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      09-26-2009, 12:17 PM   #14
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Quote:
Originally Posted by bknight View Post
Leased, but has nothing to do with that being the only thing I can afford. I just like the idea of having a new car every two years, and in that respect I think leasing is the more sensible option.
This. Leasing isn't for people who can't afford it otherwise, that's not the point.

The last statistic I heard (from BMW) was that 70% of their sales were leases. This was as of a year or so ago, before the economy really started to fall.

On an enthusiast forum, I'm guessing it will be 60/40 buy/lease. People here like to mod their cars, which is much less cost-effective on a lease.
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      09-26-2009, 12:21 PM   #15
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i saw somewhere at least for BMW's it was about 65% leased
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      09-26-2009, 01:14 PM   #16
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Saved up for about a year and dropped 22k down. Hoping to pay it off in less than two years.
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      09-26-2009, 02:11 PM   #17
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I financed a used BMW with a reasonable down payment, which isn't an option. Was easily the best option for me for how long I expect to keep the car (~ 5-6 years). I could have bought it outright but with the interest rate it made more sense to keep the money now and invest it.
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      09-26-2009, 02:40 PM   #18
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Definitely more than half of new BMWs in the US are leased. The statistic was posted here a few years ago, and I could swear it was 70%+.

That doesn't mean people who couldn't otherwise afford a BMW are leasing one. It's more indicative of the facts that (1) BMW has outstanding lease programs and (2) Americans like to lease new cars.

I tend to buy cars rather than lease them because the lease numbers usually don't work out favorably when I compare the two options. I bought my current car, but I would be just as willing to lease next time. If you have a good idea how many miles you drive each year, it's easy enough to compare the two options and make a sound financial decision either way. Well, to be honest, the only sound financial decision when it comes to cars is to buy used. But you know what I mean.
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      09-26-2009, 02:51 PM   #19
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The survey questions are dumb. Putting down small amount of down payment doesn't mean you can't afford a large down payment. If the interest is only .9%, why would you put a large down payment?? It's almost like free money. The down payment you saved can be used to pay off high interest debts, like credit cards, if you have any.
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      09-26-2009, 04:18 PM   #20
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Quote:
Originally Posted by Digtlartst View Post
...which yields a bumper crop of nice clean CPOs, one of which I got last Spring with $10k down and .9%.
Same here, got mine in June.
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      09-26-2009, 04:24 PM   #21
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Put down 25k 2 year loan for the rest.
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      09-26-2009, 05:54 PM   #22
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Quote:
Originally Posted by RyanE92 View Post
LOL at describing leasing as the "only way to afford it." Sometimes it just makes sense depending on the deals.

Obvious stupid is obvious.
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