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Lease or Buy?
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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Maybe a posh 6er Chuck but considering that BMWFS will waive the security on a 're-lease' and the disposition fee
-Is this true? If I release a BMW when my current lease ends, are these waived? Please explain.
What is the dispoistion fee?
| | 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
-Is this true? If I release a BMW when my current lease ends, are these waived? Please explain.
What is the dispoistion fee? | Yes. If you lease another BMW and are approved by BMWFS, you will not be required to provide a security deposit.
The disposition fee is $395 on a BMW and is money you pay to BMW if you walk away. It generally is offset somewhat by the return of the security deposit but bottom line - you pay them $395. It is in most if not all automotive leases and is buried in the small print. Sounds like you didn't read it 
| | Reply » Lease or Buy? |
Quote: | 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. | Expensive maintenance (maybe), but you would have no monthy lease payement. If you plan to keep the car for 5 or more years, I don't see where leasing works out. You're just locking yourself into a monthy payment.
Besides that why pay the fees associated with the lease if you have the cash to buy the car?
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Lease or Buy?