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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) > Suze Orman vs. Leasing or Buying



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      10-04-2005, 12:10 PM   #1
dmg
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Suze Orman vs. Leasing or Buying

You Auto Think Twice about Leasing a Car

Interesting article for those to contemplate pros and cons (all cons in her book)

Wise info. from Suze who gives good advice, I would have to agree with her.

Leasing is for the gotta have it's who can't afford it, esp. a luxury brand. When you could buy a very nice brand thousands less. Why anyone would want to borrow a car for a few years with unlimited miles I dont know.

But if you know that going in, and don't mind the conditions then great.
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      10-04-2005, 12:18 PM   #2
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I generally don't like the advice of Suze Orman -- or most financial advice columnists for the most part. Most of these people seem to want you to delay all current happiness so you can have money for 40 years down the road (probably to have an equally boring retirement). I don't know about you, but if leasing were the only way I could get a BMW, and I REALLY wanted one, I'd lease it. Why not have some fun in life?

That said, there's been plenty of discussion already on the lease vs. buy decision. Each has its merits and risks, which are based on individual preferences and experiences.
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      10-04-2005, 01:21 PM   #3
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Quote:
Originally Posted by nostrum09
I generally don't like the advice of Suze Orman -- or most financial advice columnists for the most part. Most of these people seem to want you to delay all current happiness so you can have money for 40 years down the road (probably to have an equally boring retirement). I don't know about you, but if leasing were the only way I could get a BMW, and I REALLY wanted one, I'd lease it. Why not have some fun in life?

That said, there's been plenty of discussion already on the lease vs. buy decision. Each has its merits and risks, which are based on individual preferences and experiences.
So true. I lease my BMW, so I know my days of owning a BMW are numbered (buying a beater for the commute). It has been a fun 28 mo's, but I now have other goals in mind (moving to a new home), and owning a $40k car is no longer a good use of my cash.

Thank you BMW for making a great driving car. I will see you again in 10 yrs, maybe.
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      10-05-2005, 10:42 PM   #4
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Let me guess....lol...you're in your 20's?

I think it all comes down to balance. Some are tightwads who save and save and never have fun, only to die at 62 the day after retiring, with 4 million in the bank. Others are "live for today" and working at McDonalds when they're 78 to make ends meet.

I'm older now, 42, and I have to agree with much of what my dad said. A dollar saved today is worth many down the line after you've invested it, so you'd better really want what you're buying.

But don't get the idea that when you're old you won't be happy no matter what and having money then doesn't matter. I see a lot of miserable old people who blew it when young and didn't save enough and they're bitter about having to live in lousy areas w/o a beach or lake view or whatever. Life goes on after 40, you'll still want nice stuff then, so save.

And as an owner of 3 bmw's over the years, I will add....beyond basic comforts.....STUFF doesn't make you happy. If you think it does, you will never find lasting happiness. When you have money to spare for luxuries, get them. But don't think "if I only had that car I'd be happy" and expect it to be the case. Once you've read essays from psychologists on how most of what we buy today is really just wealth-displays, you will start to feel silly buying some of the stuff we do. I got my BMW for the handling, looks, safety, and resale value. Not to impress anybody. I wanted a Mazda 6 but it lacked stability control, didn't like the silver plastic inside, and resale sucks.

Leasing theoretically is the same as buying. But it rarely works out that well. Having to get rid of a car early can be a disaster if leased. Damage charges can be unfair. And it can train you to get new cars every 2-3 years which can be expensive. Most financial experts warn against it in most cases.
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