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re: Am I crazy to Lease Vs Buy a new car?
Posted on 12/31/12 at 11:19 am to dewster
Posted on 12/31/12 at 11:19 am to dewster
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
1
Posted on 12/31/12 at 3:27 pm to ATL TGR
quote: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.
Am I crazy to Lease Vs Buy a new car?
Posted on 12/31/12 at 4:22 pm to saderade
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.
Posted on 12/31/12 at 5:00 pm to ynlvr
quote:Ahh, well that makes things very different. Disregard my advice.
She brings home the big money in this relationship! I like to buy her what she wants with it.
Posted on 12/31/12 at 8:01 pm to ynlvr
The key is using dealer lease programs, which can be heavily subsidized.
Posted on 1/1/13 at 2:19 pm to Tigah in the ATL
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.
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.
Posted on 1/1/13 at 5:07 pm to ynlvr
quote:Certified pre-owned with trade-ins every 2-3 years would be a great way to go in that case.
My wife seems to get car fever every 2-3 years.
BMW 650i runs about $100K new vs about $50K for a 2010 BMW 650i CPO - full warranty/new condition.
Posted on 1/2/13 at 6:19 am to ynlvr
What is the money factor?
Posted on 1/2/13 at 8:31 am to ynlvr
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.
Posted on 1/2/13 at 4:09 pm to NC_Tigah
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.
Posted on 1/2/13 at 8:35 pm to ynlvr
Check out the forums on bimmerfest.com. they will set you straight on leases and what is a good deal.
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