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Lease vs own - a real example
Well I just sold my 2001 325i 5 speed, steel grey, sport, premium, H/K CD. It was 49 months old with 73.4K miles. THat is an average of around 18K miles a yr. If I look at my total cost = down payment plus all my loan payments including interest and subtract the selling price, the car cost me exactly $400 a month to own....not bad! Now If I add in all the maint and repairs I had to pay for...brakes, rotors, one window regulator, and 2 sets of tires, the total cost is around another 40 dollars a month. I did much better than if I leased the car. Not only was the lease cost much higher than that, but I would of been over the miles! I think I did pretty good. Hope this helps.
| | Reply » Lease vs own - a real example |
Quote: | Well I just sold my 2001 325i 5 speed, steel grey, sport, premium, H/K CD. It was 49 months old with 73.4K miles. THat is an average of around 18K miles a yr. If I look at my total cost = down payment plus all my loan payments including interest and subtract the selling price, the car cost me exactly $400 a month to own....not bad! Now If I add in all the maint and repairs I had to pay for...brakes, rotors, one window regulator, and 2 sets of tires, the total cost is around another 40 dollars a month. I did much better than if I leased the car. Not only was the lease cost much higher than that, but I would of been over the miles! I think I did pretty good. Hope this helps. | The mileage factor is one major thing that keeps me from ever leasing a car. I easily put 15~18K (even 20K a couple of years) on a car. There is no way I could keep it below the 12K max on most leases.
| | Reply » Lease vs own - a real example |
Since my lease is so short (2yrs), I plan on purchasing my car at the end. I believe I read somewhere on here that you can negotiate the buyout price with BMW when the end of your lease comes. Can anyone confirm this?
| | Reply » Lease vs own - a real example |
Quote: | Well I just sold my 2001 325i 5 speed, steel grey, sport, premium, H/K CD. It was 49 months old with 73.4K miles. THat is an average of around 18K miles a yr. If I look at my total cost = down payment plus all my loan payments including interest and subtract the selling price, the car cost me exactly $400 a month to own....not bad! Now If I add in all the maint and repairs I had to pay for...brakes, rotors, one window regulator, and 2 sets of tires, the total cost is around another 40 dollars a month. I did much better than if I leased the car. Not only was the lease cost much higher than that, but I would of been over the miles! I think I did pretty good. Hope this helps. | Oh... look... wow... another "Lease vs Buy" thread... 
I think everyone should lease, unless they buy, but only if they lease. 
I guess just adding this to the other hundreds of threads on this subject would have been too much to ask? 
| | Reply » Lease vs own - a real example |
Quote: | Since my lease is so short (2yrs), I plan on purchasing my car at the end. I believe I read somewhere on here that you can negotiate the buyout price with BMW when the end of your lease comes. Can anyone confirm this? | From what I hear, BMW FS will not negotiate the buyout price (I've tried several times and others I've known have too).
Good luck, it never hurts to ask thought...
| | Reply » Lease vs own - a real example |
Quote: | Well I just sold my 2001 325i 5 speed, steel grey, sport, premium, H/K CD. It was 49 months old with 73.4K miles. THat is an average of around 18K miles a yr. If I look at my total cost = down payment plus all my loan payments including interest and subtract the selling price, the car cost me exactly $400 a month to own....not bad! Now If I add in all the maint and repairs I had to pay for...brakes, rotors, one window regulator, and 2 sets of tires, the total cost is around another 40 dollars a month. I did much better than if I leased the car. Not only was the lease cost much higher than that, but I would of been over the miles! I think I did pretty good. Hope this helps. | For a better comparison, you'd have to take into consideration the opportunity cost of your money: the portion of the car that was paid off could have been invested and yield you income. On the other hand, you'd also have to consider lease expenses not usually incurred with a purchase: aquistion fee, disposal fee, etc... Also, factor in tax differences (excise tax, etc.) I too believe that owning is cheaper than leasing. Leasing is a bit like insurance, though: you control your risks better and that is worth something.
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Lease vs own - a real example