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08-04-2010, 08:49 PM | #1 |
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Think before you lease
Interest rates are at an all time low. With all the government fuel economy requirements kicking in, these cars are not going to get any better. Taking a lease with pumped up residual values only keeps you in the leasing game. You pay down incredible amounts of depreciation so bmw finance can flip a great used car to the next buyer on your back and make money on your need for the latest greatest. Stop the cycle man. You can do it.
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08-04-2010, 09:37 PM | #2 | |
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Dave
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08-04-2010, 09:49 PM | #3 |
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I lease because I own business and do lots of freelance work,- leasing for me, makes for excellent business expense and tax advantage.
At the end of lease, if I desire, I can buy this great car out at a discount Only here in USA leasing makes a lot of sense> buying new doesn't. Just like in Real Estate, buying housing is not good-could end up in negative equity,- much cheaper to rent right now. So is auto leasing- much cheaper than buying. When financing the car,- you don't own the car till it's paid off, but once it's paid off after 5 years> it's an old car, and you want another one. If you bought CPO> then in few years it'll be even older car and you'll be really sick of it. Leasing/Buying... it all comes down to how much cash you forked out VS how much the car is worth. If I was rich, I would pay cash in full for brand new car, keep it one year and sell it before it's lost any more value, and buy new one every year! Leasing is very similar to that...
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http://www.m3post.com/forums/showthread.php?t=422151 Last edited by dimabimmer; 08-04-2010 at 10:02 PM.. |
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08-04-2010, 09:53 PM | #4 |
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You know you can also write off the car on taxes if you own it and you have a business or are self employed.
The difference on taxes vs a business vehicle being lease vs being bought is minimal.. unless you know something I dont. I have been writing off business vehicles that are leased and owned and its about the same tax savings.
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08-04-2010, 10:42 PM | #6 |
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like I've said plenty of times, now is the time to lease these cars. Their blowing M3's out the door
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08-04-2010, 11:32 PM | #7 | |
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For me, leasing makes sense because A) I know I'll want a new car in 5 years or less, B)I know it will cost me less to lease for 3 years vs purchase and sell/trade-in (or at least I won't accept lease deals unless this is true), and C) protects me from losing money if anything happens to the car. Most people lease expensive cars, not just to make them affordable, but because a vehicle is a horrible place to stash your cash. Think about this, you put $70k into a vehicle, get into a $1k fender bender, and the car's value plummets to that of a new civic because it shows up on the carfax. With a lease, you or the insurance do the repairs, you turn it in at the end, and wash your hands of it. With a purchase, if you sell it later you take a bath. On the flip side, if you keep it forever, no big deal. Last edited by sor; 08-04-2010 at 11:40 PM.. |
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08-05-2010, 12:24 AM | #10 | |
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08-05-2010, 12:30 AM | #11 |
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Equation depends on use/miles. If you have great credit and do a lot of miles (as we do here) then buy > lease.
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08-05-2010, 01:52 AM | #14 | |
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08-05-2010, 02:13 AM | #15 |
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Buying a car is almost as dumb as the OP's post...
Never been a better time to lease an M3 or most BMW's for that matter.
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08-05-2010, 03:17 AM | #16 |
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08-05-2010, 06:27 AM | #19 | |
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08-05-2010, 06:30 AM | #20 |
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08-05-2010, 08:50 AM | #21 | |
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08-05-2010, 10:15 AM | #22 |
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Best is buy used with cash = no interest or finance; dodge the steep initial depreciation curve. When you lease, you will ALWAYS and forever have a monthly car payment (which I hate!).
Face it, most people lease because they can't afford to buy.
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