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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) > Leasing 101, I Need Some Help



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      01-13-2007, 12:49 AM   #23
beemah
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yup M3 next........
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      01-13-2007, 01:17 AM   #24
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This is my first lease- but I really enjoy cars and typically have 2 at a time, and after about 2 years max with one I want something new. So every year I'm buying something. (hooray for disposable income )

Finding a buyer each time becomes a pain in the butt and selling is a matter of luck or blessing, depending on how you count it. I just sold my 1 y/o Mustang GT almost instantly and for what I wanted, and got my down payment back (minus mods, which is a given) but there have been other times when no buyer appeared and I was forced to accept a trade-in value that was less than I hoped for in order to get what had caught my eye...

So leasing is ideal for me on this car IMO- with hundreds lower in monthy payments by leasing I'll win either way if I turn it in after 2 years or if I buy it after the lease term and keep it another year (who knows) but I almost always sell before the warranty is up- makes it a much more appealing purchase to the second buyer knowing if something goes wrong they are covered. Likewise BMW is better than other mfrs because of their 4 year maintenance coverage- so there are no surprises.

BMW group products hold their value more than most (Hyundais and Chevys and Dodges, eek).. and modern cars don't age inexpensively like the pre-computerized ones did- so the benefit of long term ownership is debatable now, it's not necessarily a virtue anymore unless you just really adore that one car.

So I guess the bottom line is, don't sweat a few bucks when it comes to getting a great car- it's worth it.
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      01-13-2007, 01:23 AM   #25
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that should be a sticky mate! well said
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      01-13-2007, 05:14 AM   #26
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Quote:
Originally Posted by beemah
This is a great argument.

if i had cash down to buy a car - i would have done it

if i had to finance - the payments are just too high monthly because the interest rates unrock

if i had to lease - ideal for me

the probability of totalling or getting stolen is very low

insurance agencies cover most of your car in that case

and it really comes down to financial budgeting or forcasts of ones finances

so in the end....figure out how best you can pay for the car, and let you sales assiciate write up a deal for you......

what say you folks?
I still don't agree. In 1998, a BMW was too expensive for me, so I woulda have felt the same way--payments too high to buy a BMW. So I didn't, I bought a Nissan. Leasing was not the answer, because it is an agreement that is stacked in the lessor's favor. All the responsibilities of ownership (taxes, maintenance, insurance, etc.) with none of the benefits.

What do you mean interest rates unrock? The dealership gave me 5.5% for 60 mos. That's 2.75% below prime. Even my HELOC is only 1% below prime which at 7.25% is very unattractive to me even after-taxes (I figure that is a net of 6%, 5 7/8 at the very best but not really).

In my hard of hearts I feel the "I can invest the money I don't pay every month that I would if I bought" is a cop-out. The money spent on a BMW is supposed to be discretionary, that is spent for the luxury of buying a BMW. It's not investment money to begin with. my .02
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      01-13-2007, 10:17 AM   #27
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You guys continue to debate this issue. I am enjoying it more and more. It's obvious that there is no right answer but the different views are interesting. Keep it going!
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      01-13-2007, 02:56 PM   #28
beemah
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John- a BMW is a BMW. If you love one, we will find a way to get in one.

How much cash did 5.5% equate to in interest terms for your car? yes, 5.5 is below the prime, agree. i just cant pay the cash equivalent of 5.5% because i could get so many more options in that amount......maybe lease another series...
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