Think before you lease - Page 3

Kyoshi71 · 08-09-2010, 11:33 AM

Quote:

Originally Posted by Azorean

Best bet is buy used.

Holy crap!! It took 12 previous post before somone mentioned where the TRUE value is

(however, I bought my 2010 because when I was looking in Aug '09, the money factor was bordering on criminal)

bonedoctor · 08-09-2010, 11:56 AM

Here's something else to consider: the unknown effect of the F30 M3.

Every new M3 generation has a slightly different effect on the price of the previous generation. Since we can't predict the next generation's effect, we might as well let BMWFS take the risk by leasing with a fixed residual value.

We also don't know the direction of the economy in 3-4 years.

If residuals increase at that time, then wonderful, buy the car cheap at lease end! If the bottom falls out either because of the F30 or because of the economy, then you have a great option to walk away and buy a CPO or buy a used for much less, or even buy an F30 M3.

Why have buyer's remorse? Let someone else take the risks. (Including the risk that some idiot Los Angeles driver hits me while texting, and the value dropping like a fly)

Greer · 09-02-2010, 06:33 PM

Buy a 2 year old car. You can still right part of it off on taxes every year and gets you out of the cycle of sending a lease payment in every month.

saeyedoc · 09-07-2010, 10:22 AM

Quote:

Originally Posted by Greer

Buy a 2 year old car. You can still right part of it off on taxes every year and gets you out of the cycle of sending a lease payment in every month.

Buying used to me (or new for that matter) only makes sense if you plan on keeping the car a long time and then sell it privately.
The problem is everytime you trade a car to the dealer, they want to make about $5k on the deal. As stated above, if there was any kind of body damage, they claim diminished value and you lose again.
The problem is there's not much market for a 6 year old high-end car with 70k+ miles on it. Sure, if you can sell the car privately you can do ok, but it's a pain to deal with.
Some dealers are also trying to charge crazy money for CPO vehicles.
I spent the weekend looking for cars for my wife and 85yo MIL to share.
One Mercedes dealer wanted almost $38k for an '09 C350 with 300 miles on it (demo).
Found the same options on a new 2010, was able to get it for invoice-$4500, ended up being several thousand less than what the other dealer wanted for the '09 CPO.

Kyoshi71 · 09-07-2010, 10:35 AM

Quote:

Originally Posted by buschy

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.

No, you can write off 5/7ths of the taxes on the lease unless you can justify using the car 7 days for work. But how much are the taxes anyway? Leasing doesnt make sense anymore if you really scrutinize the numbers, as well as all the other bullshit that goes along with it. Dings & scratches; tire tread depth; mileage; and anything else that's above and beyond "normal wear & tear.

crackberry · 09-07-2010, 11:03 AM

i just like to outright buy the car. that is the cheapest way to buy a car because no interest. thats where they get you and the true price that you pay starts to go up. imo, its the best way to handle it because you pay less in the long run. i hand them a check, and i fully own the car from the second i walk out the dealership.

crackberry · 09-07-2010, 11:07 AM

Quote:

Originally Posted by starkraven

And there's the sucker punch! Ouch!

its true.

saeyedoc · 09-07-2010, 11:12 AM

Quote:

Originally Posted by crackberry

i just like to outright buy the car. that is the cheapest way to buy a car because no interest. thats where they get you and the true price that you pay starts to go up. imo, its the best way to handle it because you pay less in the long run. i hand them a check, and i fully own the car from the second i walk out the dealership.

Only the cheapest way if you can earn less on your money than the interest you would pay.
If you can borrow money for 0.9%, some would say you would be foolish for paying cash.

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08-09-2010, 11:56 AM	#46
bonedoctor Dreamer Drives: 2011 E90 M3 SG Join Date: Mar 2010 Location: Yorba Linda, California Posts: 77 iTrader: (0)	Here's something else to consider: the unknown effect of the F30 M3. Every new M3 generation has a slightly different effect on the price of the previous generation. Since we can't predict the next generation's effect, we might as well let BMWFS take the risk by leasing with a fixed residual value. We also don't know the direction of the economy in 3-4 years. If residuals increase at that time, then wonderful, buy the car cheap at lease end! If the bottom falls out either because of the F30 or because of the economy, then you have a great option to walk away and buy a CPO or buy a used for much less, or even buy an F30 M3. Why have buyer's remorse? Let someone else take the risks. (Including the risk that some idiot Los Angeles driver hits me while texting, and the value dropping like a fly)

09-02-2010, 06:33 PM	#47
Greer Private Drives: 2003 M5 Join Date: Dec 2007 Location: LA Posts: 71 iTrader: (0)	Buy a 2 year old car. You can still right part of it off on taxes every year and gets you out of the cycle of sending a lease payment in every month.

09-07-2010, 11:03 AM	#50
crackberry Major Drives: Porsche Carrera GTS (997.2) Join Date: Sep 2010 Location: southern california Posts: 1,003 iTrader: (0)	i just like to outright buy the car. that is the cheapest way to buy a car because no interest. thats where they get you and the true price that you pay starts to go up. imo, its the best way to handle it because you pay less in the long run. i hand them a check, and i fully own the car from the second i walk out the dealership.