|
|
|
|
|
|
BMW Garage | BMW Meets | Register | Today's Posts | Search |
|
BMW 3-Series (E90 E92) Forum
>
Leasing vs. Purchasing -- I think I just switched to the leasing side...
|
|
06-01-2010, 12:07 PM | #45 |
Colonel
343
Rep 2,118
Posts |
|
Appreciate
0
|
06-01-2010, 12:55 PM | #47 |
Major
79
Rep 1,073
Posts |
Leased 8 cars over 20 sumptin years.........Usually worked great. NO MONEY DOWN and deduct most of the payment.
Now IM driving less, lease rates not low, and seems like not the deal it used to be. 8 cars, no problems with returns. Gotta know whats in the contract. I bought a used 328 coupe in mint conditions. Great car, not putting even 10k miles so to me buyig made sense. Plan on keeping 7 years. |
Appreciate
0
|
06-01-2010, 01:01 PM | #48 |
Lieutenant
52
Rep 487
Posts |
Right, the goal of this thread was just to point out some more pros and cons that I at least had not thought of.
Another factor is if you have access to a second car. That's another factor that makes leasing more attractive. |
Appreciate
0
|
06-01-2010, 01:19 PM | #49 | |
Brigadier General
158
Rep 3,158
Posts |
Quote:
Sorry for the minor threadjack. This ties into leasing and buying, though--if you bought or leased now, what would the 3-series landscape do to your resale and/or ability to get into the F platform?
__________________
Always do right. This will gratify some people and astonish the rest.
--Mark Twain |
|
Appreciate
0
|
06-01-2010, 01:21 PM | #50 |
Brigadier General
1436
Rep 4,725
Posts |
Sorry, I was trying to call out MSrothwell. I just hit the wrong qoute.
__________________
Current: 2021 M340i xDrive
Previous: '18 340i xDrive; '15 335 xDrive; '14 435i xDrive; '09 335 E92 xDrive |
Appreciate
0
|
06-01-2010, 01:43 PM | #51 | |
Captain
29
Rep 687
Posts |
Quote:
By end of summer I am going to see if it makes sense to buyout my lease. 26k doesn't seem like a bad price and I think i can shave off a little of that price (or to include CPO) as my car is BSM/Coral Red/ 6MT (not a common car for them to sell). Surprisingly, after 3 years, my car has been solid with 0 mechanical problems (and I dont baby my car). I am in no state to buy another BMW with a 40k+ sticker as I just bought a house and I dont see any other vehicles id like to lease (other then BMW M3 which has a 1k/month lease payments). I have been searching for other used 08 E92 335's to get an idea of what out there and the cost have been around 27-30k. If i keep my car, I wont be getting into the F1X series until the second year of the coupe release (which I am assuming will be 2014) if I even like the car. In regards to leasing and financing when it comes to "lemon" and accidents. I was merely saying that if you get into an minor to moderate accident (2k-15k) worth of damages, with a lease, you can choose to turn it in at the end of your lease and call it a day. With financing you are stuck with a car that has been an accident (diminished value) and will likely be shown on carfax. Now if the car got totaled, i think risk factor is the same for both lease and finance. |
|
Appreciate
0
|
06-01-2010, 02:28 PM | #52 | |
General
543
Rep 18,123
Posts |
Quote:
__________________
Current: 2010 Alpine White 335D LCI l 19" BBS LMs l KW V2 Coilovers l BMW Performance Grilles l MSport Front/Rear l Karbonwerke Trunk l F1 Pinnacle Tint 35% Former: E92 Space Grey 335i Latest pics |
|
Appreciate
0
|
06-01-2010, 02:44 PM | #53 |
Lieutenant Colonel
346
Rep 1,782
Posts |
Nobody seemed to have mentioned the two BIG factors which can help you while you lease
1. Loyalty MF reduction 2. MSDs and the transfers from one lease to another (another MF reduction toolbox) Read about some guy who almost got such a low effective money factor as a result of the above two factors, that he was virtually paying no interest on depreciation. Now, figure that one out with spring-summer incentives in place, you basically pay about $14-$17k for an E90 over 36 months. Currently for an MY10 when the MY11 just come out. Car is still new in terms of technology, you don't care about resale as you lease. Smaller monthly payments, if the above two factors work! Lease over and over, UNLESS you care about the environment and want to reduce your carbon footprint by keeping the same car for 10 years or so. We in North America are very fond of leasing I believe? For a 75 year old buyer who starts leasing at the age of 21, ~18 cars would have been leased out, as opposed to just 7-9 cars if the buyer actually bought and not leased while keeping the car for about 7 years (some keep it longer, as one of the posters in this thread who has an E46). Just my $0.02. In the current situation I would NEVER buy a new car, F3x would kill the resale value unless I am planning to keep the E90 up until the launch of successor of F30 after say another 8 years? Last edited by bavarianboar; 06-01-2010 at 02:52 PM.. |
Appreciate
0
|
06-01-2010, 02:52 PM | #54 |
New Member
6
Rep 27
Posts |
Just think about it:
Customer's view point: Leasing: 3 yrs Amount paid: ~ 19000 Interest on amount above: ~1700 Registration fee every year: 500*2: 1000 Extra Insurance: add an extra 20 per month for 2 yrs: 20*24 = 480 Buying the car: ~25K (includes taxes for an 07 e90 328i) Selling the car:~10k (worst case assuming you've really beaten the crap out of it in mileage) Registration: 50 every year: $150 Extra insurance: 0 Maintenance: depending on your luck: ~1500 Difference = 22500 - 16500 = ~ 6000 saved over 3 yrs Dealerships view point: Lease: Amount in interest: $4500 + dealer profit (1000) = $5500 CPOd vehicle: Amount in profit= ~5000 (if you're smart you can get it down to ~4000) For a dealer leasing and then getting it CPOd is more advantageous: Makes twice the money on the same car :-) If you buy, the dealership doesn't have that much of a gain. They would rather that you lease. If you lease, you get a brand new car and no worries for 3 yrs as full maintenance is covered. I cannot really say it's complete peace of mind coz you'd be constantly thinking about the miles and the vehicle safety. Not sure how much you'd be able to enjoy the vehicle with those numbers running in your head all the time. So in short ... leasing is more expensive, but if that suits you, go for it :-) |
Appreciate
0
|
06-01-2010, 02:59 PM | #55 | |
General
543
Rep 18,123
Posts |
Quote:
And insurance? Some people get more coverage if they have a need to cover more (home owner for example). And you are comparing a new car vs a used car? Wow man, learn2compare.
__________________
Current: 2010 Alpine White 335D LCI l 19" BBS LMs l KW V2 Coilovers l BMW Performance Grilles l MSport Front/Rear l Karbonwerke Trunk l F1 Pinnacle Tint 35% Former: E92 Space Grey 335i Latest pics |
|
Appreciate
0
|
06-01-2010, 03:05 PM | #56 |
Major
254
Rep 1,391
Posts |
As mention many times already it depends on the person, no wrong or right answer.
To me leasing is the business model of "Gillette" or even giant S/W company like Microsoft is trying; "charge per use, not letting customer own, they'll have to come back for more". CA loves it casue in 3 years you'll be back on the dealer floor, more kickback on MF and comission. But no question on how fun to drive new car every 3 years. All other argument is moot casue all have to pay the steep depreciation on new cars. Or risk buying CPO which no guarantee how the car has been treated or even worse, car been under water in a flood (a friennd find out the hard way after midwest flood back then). |
Appreciate
0
|
06-01-2010, 03:28 PM | #58 | |
Brigadier General
55
Rep 3,606
Posts |
Quote:
|
|
Appreciate
0
|
06-01-2010, 03:53 PM | #59 | |
Captain
37
Rep 645
Posts |
Your point about not making payment after you pay off the car is the biggest myth on car car purchase. The truth is you will always pay for a car either from the continuing depreciation and the continuing repairs and maintenence on a older car you own. What good is to own a piece of dated machinery when it looses value on a daily basis and parts keeps wearing down and in need of replacement?
The other myth is that if you drive a lot you get killed on the mileage penalty. It's all about planning ahead. I drive a lot and my lease allows me to drive 15k miles a year and my payments did not go up too much. The extra mileage is on 16cent a mile. That is only $1600 for an extra 10k miles. Divide the amount through the life of a 3 year lease and we are talking about $45 more a month than the typical 12k miles a year lease. Yeah, that is a fortune alright! Quote:
|
|
Appreciate
0
|
06-01-2010, 04:09 PM | #60 | |
Major
254
Rep 1,391
Posts |
Quote:
If the answer is 3-4 year, lease make sense other argument is moot, if close to 7-9 years, buy. even if you want to throw in what is more savy by asking financial advisor, 99% of the time they'll tell you buy and drive until the wheels fall off none will tell you lease every 3 years. If you start arguing about that advise go back to first sentence on this post! it's not rocket science, or what people tends to make it be. |
|
Appreciate
0
|
06-01-2010, 04:22 PM | #61 | |
General
543
Rep 18,123
Posts |
Quote:
You can finance 3, 4, 5, 6, 7 years, etc. and the same applies to a lease.
__________________
Current: 2010 Alpine White 335D LCI l 19" BBS LMs l KW V2 Coilovers l BMW Performance Grilles l MSport Front/Rear l Karbonwerke Trunk l F1 Pinnacle Tint 35% Former: E92 Space Grey 335i Latest pics |
|
Appreciate
0
|
06-01-2010, 04:23 PM | #62 | ||
Lieutenant Colonel
346
Rep 1,782
Posts |
Quote:
Quote:
|
||
Appreciate
0
|
06-01-2010, 05:14 PM | #63 |
Major
82
Rep 1,365
Posts |
|
Appreciate
0
|
06-01-2010, 05:21 PM | #64 | |
Lieutenant General
1707
Rep 14,829
Posts |
Quote:
What would you tell your son or daughter to do, who just finished college, 21 y.o., and got their first 60k job? Whatever you would tell them to do, buy or lease, is the right answer. |
|
Appreciate
0
|
06-01-2010, 06:44 PM | #65 | |
Private
2
Rep 61
Posts |
Quote:
I'm not sure if the dealer that you turn a lease into has first crack at paying off the residual to the leasing company and is able to turn around and sell it. I could be totally wrong on this, but I coulda sworn it goes to wholesale auction first.
__________________
E90 2009 335i
retired: E21 1983 320is, E36/7 2000 M Roadster, E39 2000 540iA |
|
Appreciate
0
|
06-01-2010, 09:29 PM | #66 | |
Colonel
103
Rep 2,783
Posts |
Quote:
|
|
Appreciate
0
|
Bookmarks |
Tags |
buy, lease, purchase |
|
|