Am I crazy to Lease Vs Buy a new car? - Page 2 - TigerDroppings.com

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ATL TGR
LSU Fan
Houston
Member since Apr 2008
2874 posts

re: Am I crazy to Lease Vs Buy a new car?


quote:

My biggest worry is that both will need replacement at the same time.


This used to be my worry. Then a skilled driver totaled the wife's car while parking in the parking lot.

So now my car is racking up miles and the wife got a nice used car with under 30k






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saderade
New Orleans Saints Fan
America's City
Member since Jul 2005
20940 posts

re: Am I crazy to Lease Vs Buy a new car?


quote:

Am I crazy to Lease Vs Buy a new car?
You should buy yourself a new/used car or lease the BMW for yourself. Your wife does not need a new car every 3 years. Is she in sales and thinks she always needs a new vehicle? It also depends how much the cost of this effects your financial situation.






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ynlvr
LSU Fan
Baton Rouge
Member since Feb 2009
849 posts

re: Am I crazy to Lease Vs Buy a new car?


quote:

Is she in sales and thinks she always needs a new vehicle?


She brings home the big money in this relationship! I like to buy her what she wants with it.






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saderade
New Orleans Saints Fan
America's City
Member since Jul 2005
20940 posts

re: Am I crazy to Lease Vs Buy a new car?


quote:

She brings home the big money in this relationship! I like to buy her what she wants with it.

Ahh, well that makes things very different. Disregard my advice.






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Tigah in the ATL
LSU Fan
Atlanta
Member since Feb 2005
23743 posts

re: Am I crazy to Lease Vs Buy a new car?


The key is using dealer lease programs, which can be heavily subsidized.





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ynlvr
LSU Fan
Baton Rouge
Member since Feb 2009
849 posts

re: Am I crazy to Lease Vs Buy a new car?


Update:
Negotiated Price $47,095
Residual $28,966
Down Pmt $1,000
39 mth term, 12k mi/yr
So, Depreciation is $18,129 for the term ($464.84/mth).
Lease Rate Quoted = $669/mth

Looks high to me but I still don't know what fees may be in this price other than tax of approximately $45/mth. I have not discussed Disposition fee but was told there was no fee due at Lease End other than potential Mileage or Vehicle Condition fees.






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NC_Tigah
LSU Fan
Member since Sep 2003
50295 posts

re: Am I crazy to Lease Vs Buy a new car?


quote:

My wife seems to get car fever every 2-3 years.
Certified pre-owned with trade-ins every 2-3 years would be a great way to go in that case.

BMW 650i runs about $100K new vs about $50K for a 2010 BMW 650i CPO - full warranty/new condition.






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Will Cover
Southeastern LA Fan
Bangor, ME
Member since Mar 2007
24432 posts

re: Am I crazy to Lease Vs Buy a new car?


What is the money factor?





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Layabout
UNO Fan
Baton Rouge
Member since Jul 2011
6471 posts

re: Am I crazy to Lease Vs Buy a new car?


quote:

Thoughts?

The last time I owned a car was in 1992. Since then I've gone to leasing both of our vehicles on three-year leases. I essentially rent two cars for $500-$600 a month with no lump sum payments. You're always under warranty and you never have to be concerned about replacing tires, batteries, etc.

If you like driving a new car, don't like to be bothered with repairs, and are not a high-mileage driver, leasing can be a nice fit.

One tip I would offer is to stick to the terms of the manufacturer-sponsored leases and don't try to customize the vehicle. You can check the manufacturer's web site for the lease terms and the particular models to which it applies. I've had excellent lease deals from Jeep, Honda, Chrysler, Saturn, and Subaru.






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AbsolutTiger
LSU Fan
Baton Rouge
Member since Sep 2006
4323 posts

re: Am I crazy to Lease Vs Buy a new car?


quote:

Certified pre-owned with trade-ins every 2-3 years would be a great way to go in that case.


This is my new strategy.






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polizei11
LSU Fan
Lafayette
Member since May 2009
923 posts

re: Am I crazy to Lease Vs Buy a new car?


Check out the forums on bimmerfest.com. they will set you straight on leases and what is a good deal.





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