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Originally Posted by tibra1
Quote:
Originally Posted by pharmdphd98
By your logic all the people who lease are idiots. There are benefits to leasing such as lower payments, paying sales tax only on the "rent", tax write off if you own a business, ease of moving into another car if you tend to change a car every few years, and last but not least, not having to deal with a BMW that is out of warranty, which could be a huge money pit.
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You said it.not me
The benefits you mention dont begin to offset the costs involved with this specific car..and you can just as easily buy and have a car every few yrs that is 100% under warranty.
A lease on a car with a low MSRP makes more financial sense, spending more than what a home mortagage costs per month.. on a car, makes little financial sense..and is usually an indication that the car is out of the persons financial reach to begin with
You are essentially paying for 60% of the car's value in 3 yrs..only to give it up or get hit over the head with a giant residual to buy it out |
Incorrect. If the residual is 57% then you pay 43% of its value over three years.
With most cars if you do the calculations the break even point is around 6 years... meaning if you are going to keep the car for more than 6 years then it makes sense to purchase. This is a generality and depends on resale value and a variety of other factors including the number of miles you drive.
I think if you ran the numbers you may think differently. BMWs have excellent lease rates.
A lease is not for everyone but it is most certainly the best option for many. I don't understand why some people think those that lease are not smart. For many it is the smart choice.