Lease or own that is the question

[robotrenegade]

I'm picking up my car the 27th of this month and I haven't filled the paper work yet. What's better lease or own?

[WillC310]

Everyone's situation is different. There is no "better" w/out getting details on what your particulars are.

[richardbb85]

if you plan on keeping the car for long, finance it. 1.9% is pretty good IMO, it was 4.9% when i ordered mine few months ago.

if no, lease it.

both options are good right now, do whatever fits your need.

[AMP]

This is definitely one that is going to be specific to your situation.

For myself leasing makes the most sense as I like to be in a new car every few years (or less) and I have the ability to expense off the payment. I'm very familiar with the ins and outs of leasing and feel very comfortable with it.

Other reasons I like leasing:

1) Walk away in case of total loss. I don't put any money down on a lease so in case of a total loss I can just walk away and not be out anything. This has come in handy...

2) Lease assumptions. I've been in a couple of situations where I ended up regretting my choice... no problem... put the car up on leasetrader and swapalease and it's gone in 30 days. This was especially handy with my 2010 M3 after I realized that I just couldn't handle jet black Being able to walk away from the car after 3 months with no loss wouldn't have been possible if I had purchased the car.

3) Cash conservation. It's possible to get the car that I want with a minimum initial outlay and monthly payment. This allows me to do other more productive things with the remaining cash.

[richardbb85]

both have its pros/cons, just do what fits your wallet best

[dimabimmer]

Only in America leasing makes sence,- we often take it for granted.

Financing CPO would make more sence since you would be $20k a head of your loan at the very start. Can you imagine how much in Tax and Interest and Cash every month just to cover that first $20k if bought car new?

[Radiation Joe]

I'm sure you mean lease or finance. If the option was own, you'd be writing a check for the total amount.

If you don't have a tax incentive to lease, financing is a much better idea.

[RevFreak14]

Have the leases gotten any better on the M3's? I saw one post where there were down around $800 but question the validity. I remember they wanted nearly $1300/month for my E92 in September of last year. Would've leased if it was around $800.

[301Bimmer9]

Originally Posted by RevFreak14

Have the leases gotten any better on the M3's? I saw one post where there were down around $800 but question the validity. I remember they wanted nearly $1300/month for my E92 in September of last year. Would've leased if it was around $800.

You can get a fully loaded E92 for around $1000/mo and stripped in the $800s easily. I only wanted the car for 2-3 years so the decision to lease was easy for me.

[gatorfast]

First figure out how long you plan to keep the car. Then calculate how much it would cost you to lease the car over that period. Next, calculate how much it would cost to finance the care over that period (down payment + monthly payments) and subtract out the expected residual value. Whichever one costs less is probably the better choice.