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      02-19-2010, 10:44 PM   #1
Fconic
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Financing vs. Leasing Help

Hello Everyone,

What have people chosen to do to acquire a BMW M3? Financing vs. leasing.

If finance, how much down payment if any is the average to put down on this car and for how many months? Please help . Love the car, but almost $70k, I am trying to justify how I can get it without feeling that I just got screwed . Don't get me wrong, I would probably forget everything after I drive it . Thank you in advance for any help anyone can provide on the subject
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      02-19-2010, 10:54 PM   #2
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You might try a in this thread now that this has been moved to the pricing/ordering thread.

I financed mine (got the 0.9% for 60 months when it was offered). Many people lease but I'm in TX so there are tax disadvantages that make that less attractive.

As far as purchase price (whether leasing or financing), you should be able to get at least 2-3000 off MSRP regardless of the time of year. And many have gotten incredible deals on cars that have sat around on lots for long periods or were otherwise cars that dealers wanted to move.

It just depends on how much you want to negotiate and/or how far you're willing to go for a car. There are always those that say you should be able to get the car for invoice or even less...maybe you can...but I'd shoot for 500-1000 over invoice and your deal is probably fair.

Good luck
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      02-20-2010, 11:18 AM   #3
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$70k is a lot of money for a car, unless you are capable to shell out all cash for it.
Lease vs Finance... think of it as Dating vs Marriage.
When lease, you are in less commitment (lesser downpayment, lesser monthly payments) and when those 2 or 3 years of lease are up, you will be given an option,- to get into a new car, or buy out your leased one... Buying out your leased can be a very good deal, and could be close to 1/2 the price of what it was new when you drove it off the lot.
When Financing new car... it just doesnt make financial sence since the car goes down in value faster than you'll be paying for it... it's like buying a house in todays market,- 2 years from now you will still be making payments for borrowed $70 k + tax + % interest... but the actual value of car would be $49k... However, if buying- financing, it does make financial sence to buy a 1 or 2 year old CPO, you could be $20 k ahead of the game for the same car.
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      02-20-2010, 09:37 PM   #4
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The main advantage to leasing is for business owners...100% of the lease payment is a business expense....for individuals the main advantage for lease is more car than less money compared to purchase...however...you have to be within mileage parameters...no more than 12 to 15 k/year...and you will have payments forever....

For purchase...you really need at least a 20% downpayment or you will be upside down on your loan for years...and the prospect of ownership with no payments...
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      02-20-2010, 10:12 PM   #5
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I agree w/both of the above posts. I deduct the cost from business expense and I would never want the car more than 2 years making it a poor decision to buy a $70K (+) vehicle, so lease makes sense for me. So, load the car with all of the options and have fun!
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      02-21-2010, 05:32 PM   #6
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I drive at least 15,000 miles per year so I am a bit skeptical about the leasing. Also, hypothetically speaking, if someone by accident lets a soda can explode in your car, wouldn't BMW charge you for the entire inside? This actually happened to one of my cars once .
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      02-21-2010, 07:41 PM   #7
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Basically I just like the idea of a new car every two or three years, which is why I lease.

If you see yourself owning a car longer term, then financing is the way to go.
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