Just got back from the dealer. We were looking to get a 1 year old X3 and pay cash for it. After talking with the salesman he actually brought up some interesting points I hadn't thought of.
If we lease the car with their $0 maintenance and turn it over every 3 years basically it's no maintenance cost. If I own the car after 4 years I have to look at expensive maintenance.
The money we would have paid cash can go to our financial advisor who's been getting us a little over 10% a year.
With $5000 down it was about $400 a month for the basic model.
I've never done anything through my company before but also realized maybe I can lease it through the company which would be possibly a tax savings.
Anyone have any thoughts on this? Leasing now looks attractive but I've always paid cash so don't have any experience with it.
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| Reply » Lease or Buy? |
Oh gawd. You've opened up a huge can of worms. I'd suggest you use the search function and you will have many many different opinions, with each person believing he is correct.
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| Reply » Lease or Buy? |
Quote: Just got back from the dealer. We were looking to get a 1 year old X3 and pay cash for it. After talking with the salesman he actually brought up some interesting points I hadn't thought of.
If we lease the car with their $0 maintenance and turn it over every 3 years basically it's no maintenance cost. If I own the car after 4 years I have to look at expensive maintenance.
The money we would have paid cash can go to our financial advisor who's been getting us a little over 10% a year.
With $5000 down it was about $400 a month for the basic model.
I've never done anything through my company before but also realized maybe I can lease it through the company which would be possibly a tax savings.
Anyone have any thoughts on this? Leasing now looks attractive but I've always paid cash so don't have any experience with it. | If buying or leasing a car causes you to reflect on your finances, then you have two questions.
1. Buy or Lease?
2. Do I really need an expensive car?
Buying or leasing is just a numbers game. It comes down to how you want to play the game.
p.s. Don't forget you get to cough up another $5k to lease another car when this lease ends. Search this board for there is plenty of good buying/leasing information. We all go through the same thought process. You just need to decide what works best for you.
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| Reply » Lease or Buy? |
Quote:
p.s. Don't forget you get to cough up another $5k to lease another car when this lease ends. Search this board for there is plenty of good buying/leasing information. We all go through the same thought process. You just need to decide what works best for you. | Maybe a posh 6er Chuck but considering that BMWFS will waive the security on a 're-lease' and the disposition fee on the previous lease, if I was picking up my wife's car today, my out of pocket would be about $1300, $700 if I rolled the acquisition fee in.
Sticker was $45K. No capital cost reduction.
Where does the $5K come from??
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| Reply » Lease or Buy? |
Quote: Maybe a posh 6er Chuck but considering that BMWFS will waive the security on a 're-lease' and the disposition fee on the previous lease, if I was picking up my wife's car today, my out of pocket would be about $1300, $700 if I rolled the acquisition fee in.
Sticker was $45K. No capital cost reduction.
Where does the $5K come from?? | It is what the OP mentioned as a down. I agree the amount is high. 
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| Reply » Lease or Buy? |
I have never leased but for my daughter it was the only way to get a Bimmer at a decent price (We looked at a bunch of CPOs and the financial requirements were outrageous.). She's on her second lease and loves it. You've got to look at your situation and see what works for you.
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Lease or Buy?