[Limegrntaln]

Originally Posted by tonymac1

What's the discount everyone's getting at the moment? Was quoted only $500 off from my dealer but I've seen people mentioning 2% in the last few weeks

I heard about discounts on the 2021s, when I first started looking for a car. I'm in California, and its greedy, here. I was lucky to get a G82 xDrive Comp for MSRP.

[tonymac1]

Originally Posted by Limegrntaln

I heard about discounts on the 2021s, when I first started looking for a car. I'm in California, and its greedy, here. I was lucky to get a G82 xDrive Comp for MSRP.

Seems like msrp might actually be a good deal now…

[Multimodal]

Originally Posted by BMWRacer523

I have that rebate via PenFed and also have DCU but don't you need to finance through PenFed to get the $2500?

No, any third-party lender. The "PenFed" rebate and the Military Appreciation Incentive rebate (which you can access/validate via the BMW website) are the same thing.

[Limegrntaln]

Originally Posted by Mr. Maboomba

No, any third-party lender. The "PenFed" rebate and the Military Appreciation Incentive rebate (which you can access/validate via the BMW website) are the same thing.

I noticed something similar when I clicked a link for a USAA discount, it send me to TrueCar. Getting the TruCar discount, and getting the car financed with DCU, would be a great way to go. I'm still trying to decide on what I'm going to do with financing.

My philosophy is, I like to drive a lot, and usually put a lot of miles on cars, so, for me, get the 15K a year lease, and have a guarantee vehicle return in 3 years. If I lease it and put 45K on the car in 3, I wont have any trouble returning it, because I especially don't want a 3 year old car, with 45K on it, that I still owe $60K on.

45K miles is too many miles to want to keep the car. So, lease it, enjoy the hell out of it, for 45K miles, and return it, for a new model in 2024. In 3 years from October, when I take delivery, the 2025 models should be coming out.

[Tyga11]

Originally Posted by Limegrntaln

I noticed something similar when I clicked a link for a USAA discount, it send me to TrueCar. Getting the TruCar discount, and getting the car financed with DCU, would be a great way to go. I'm still trying to decide on what I'm going to do with financing.

My philosophy is, I like to drive a lot, and usually put a lot of miles on cars, so, for me, get the 15K a year lease, and have a guarantee vehicle return in 3 years. If I lease it and put 45K on the car in 3, I wont have any trouble returning it, because I especially don't want a 3 year old car, with 45K on it, that I still owe $60K on.

45K miles is too many miles to want to keep the car. So, lease it, enjoy the hell out of it, for 45K miles, and return it, for a new model in 2024. In 3 years from October, when I take delivery, the 2025 models should be coming out.

Why are you leasing if you drive a lot? Just finance the car or do Select and you'll pay the same amount monthly. That way, you don't have to worry about putting miles.

This car leases horribly, I don't understand it

[Limegrntaln]

Originally Posted by Tyga11

Why are you leasing if you drive a lot? Just finance the car or do Select and you'll pay the same amount monthly. That way, you don't have to worry about putting miles.

This car leases horribly, I don't understand it

Because I'm protected if I do drive it a lot of miles. Why pay $103,000 for car, when I can pay half of that, and get rid of it with high mileage, 45K in 3 years. The lease seems to work, because I don't keep cars. I've never had a car more than 3 years.

[BMWRacer523]

Originally Posted by Mr. Maboomba

No, any third-party lender. The "PenFed" rebate and the Military Appreciation Incentive rebate (which you can access/validate via the BMW website) are the same thing.

Good to know since i have both PenFed and DCU. thanks!

[Alex_Bond]

Originally Posted by Limegrntaln

Because I'm protected if I do drive it a lot of miles. Why pay $103,000 for car, when I can pay half of that, and get rid of it with high mileage, 45K in 3 years. The lease seems to work, because I don't keep cars. I've never had a car more than 3 years.

The question is how much your car will actually cost in 3 years. It might make sense to do some calculations as financing can be cheaper in the end. (note - I leasing almost all of my cars as well)

[Limegrntaln]

Originally Posted by Alex_Bond

The question is how much your car will actually cost in 3 years. It might make sense to do some calculations as financing can be cheaper in the end. (note - I leasing almost all of my cars as well)

I'm figuring somewhere between $56,000 and $58,000.

[TCBavarian]

Originally Posted by Mr. Maboomba

Digital Credit Union offers 1.49% on auto loans up to 65 months. Anyone can join. That's what I'm doing - combining the $2500 USAA/PenFed/military rebate and 1.49% 65-month financing from DCU.

https://www.dcu.org/borrow/vehicle-l...uto-loans.html

Under what category/language can anyone join? I'm thinking to sign up

[Gfit]

Originally Posted by Alex_Bond

The question is how much your car will actually cost in 3 years. It might make sense to do some calculations as financing can be cheaper in the end. (note - I leasing almost all of my cars as well)

True but the one variable you can't control on a finance vs lease is an accident. Even a small one. Finance and that equity is gone. Lease and the risk is on the bank. Wife had her X3M a month and someone rear ended her. Right in the Car Fax.

[MKParris]

Originally Posted by Gfit

True but the one variable you can't control on a finance vs lease is an accident. Even a small one. Finance and that equity is gone. Lease and the risk is on the bank. Wife had her X3M a month and someone rear ended her. Right in the Car Fax.

Technically you are paying for that in the higher overall cost of the lease.

[Gfit]

Originally Posted by MKParris

Technically you are paying for that in the higher overall cost of the lease.

How do you figure that? Lease payments are based upon purchase price (same for finance, cash or lease) and residual plus a little interest which is not much more than finance cost. A minor accident drops resale value at least $5,000 and serious accident $10,000+. Where is that captured in the leasing cost?

[Limegrntaln]

Originally Posted by Gfit

How do you figure that? Lease payments are based upon purchase price (same for finance, cash or lease) and residual plus a little interest which is not much more than finance cost. A minor accident drops resale value at least $5,000 and serious accident $10,000+. Where is that captured in the leasing cost?

This is one of the reasons I'll likely be leasing. I've always talked about this to friends. Lease anything that costs over about $60K. Just the liability of something happening to it, is high. knock on wood, I've been driving for 30 years, and have never been hit, or hit anyone else. My C7 was backed into in the drive-thru. Lady decided she didn't want to be in the drive-thru, and just started backing out.

I had someone behind me, she was driving one of those stupid toaster shitboxes with one round reverse light on the drivers side, and its all the way down on the bumper. She backed up about 16 inches, and did $3,800 damage to my car. Mostly broke the headlight and the bracket, underneath. $1,100 for bumper "reconditioning" $1,800 for a head light. The rest was miscellaneous bits and bobs.

I dealt with her insurance company, and I confirmed with them, and the body shop, that neither was responsible for putting the accident on the Carfax. Someone lied. I didn't know it was on the Carfax until I went to go trade it in. It cost me at least $5-$7K in diminished value.

If something happens to my G82, get it repaired by a certified BMW repair facility, and turn it in, at the end of the lease. If something happens to it, and it needs to be repaired, in my mind, the car has immediately been compromised, and to me, it may as well be totaled. Definitely dont want to get stuck with a $103K diminished value BMW.

[Gfit]

Exactly. I've been lucky but my wife not so much. The good news is that all of her accidents have been covered by the other drivers insurance so our record is clean but they all hit carfax and would have been a financial hit if not for leasing.

[Limegrntaln]

I'm pretty much convinced, at this point, due to the cost and liability of the car, that leasing it the way with this one. 36 months, then Ill be looking at something else, anyway. The sound of the new Z06, just sings to me. That flat plane crank, is going to be something else.

[NickyF25]

Originally Posted by Gfit

Exactly. I've been lucky but my wife not so much. The good news is that all of her accidents have been covered by the other drivers insurance so our record is clean but they all hit carfax and would have been a financial hit if not for leasing.

If accident is not your fault you can file a diminished value claim with their insurance company to make you whole. There are attorneys who specialize in this and doesn’t cost that much. Does vary state by state though and can take some time.

[Multimodal]

Originally Posted by MKParris

Technically you are paying for that in the higher overall cost of the lease.

I agree with MKParris . Leasing is more expensive than buying in terms of the financing costs (acquisition fee, disposition fee, money factor) and exposure to wear and tear fees on turn-in. When I compared leasing and buying here in California, I thought leasing would be attractive because I would only have to pay sales tax (8.5% where I live) on the lease payments (about 43% of the cost of the car) rather than the full sales price, which I have to do in a purchase. What I found is that the higher financial costs of a lease are almost the same as the sales tax savings. In my experience when you find correlations like that in financial services it's not unintentional.

That's just one example but I agree the probability-weighted risk of diminished value is built into the lease costs.

It's also a massive overstatement to claim that an accident causes $10K of diminished value. Certainly if there's a salvage title which would indicate extensive damage. My experience is that Carfax accident history on a car with a clean title has somewhere between no impact and a few thousand off.

[Gfit]

Originally Posted by NickyF25

If accident is not your fault you can file a diminished value claim with their insurance company to make you whole. There are attorneys who specialize in this and doesn’t cost that much. Does vary state by state though and can take some time.

Perhaps if you owned the car. Can't sue for diminished value on a lease because you don't own the car, the finance company does. The lessee has suffered no damages as the terms of the lease are unaffected.

[NickyF25]

Originally Posted by Gfit

Perhaps if you owned the car. Can't sue for diminished value on a lease because you don't own the car, the finance company does. The lessee has suffered no damages as the terms of the lease are unaffected.

Correct…was talking about if you financed the car instead of lease.

[Gfit]

Originally Posted by NickyF25

Correct…was talking about if you financed the car instead of lease.

Interesting. I've heard it mentioned but didn't know if that it was possible.

[chicagofan00]

Originally Posted by NickyF25

If accident is not your fault you can file a diminished value claim with their insurance company to make you whole. There are attorneys who specialize in this and doesn’t cost that much. Does vary state by state though and can take some time.

Still screwed on diminished value if the person that hit doesn't have insurance….went through that when my wife's brand new Pilot got rear ended and caused over $30k in damages. 🤬