10-13-2020, 02:28 PM | #23 | ||
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Also, leasing is a little more complicated than just financing, so I certainly see the appeal.
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10-13-2020, 08:13 PM | #24 |
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I don't know.. for me leasing vs buying went like this when I first got into BMW]
financed a 328i - daily drove it for a couple years before I wanted to get into something sportier.. looked at a 135i, all said and done I had to take 2-3 grand additional out of pocket to combat being upside down. bought the 135i, enjoyed it for a year before some assclown damaged the car parked outside while I was on vacation - ended up having to repaint the QP -- car then had some electrical issues in the bodyshop and it literally was never the same. I wanted to get rid of the car so bad I was willing to roll like 5k negative equity into a f30 335i lease, which was my first BMW lease. On the 335i, 6 months out from having to return the car someone side swiped me - I had to fight insurance for OEM parts, found a good body shop and the car was never really 100% the same.. the fact I knew I could get rid of the car in six months and come out clean since it was repaired by a BMW body shop was sooo nice and comforting. I gave back the 335i and got into my 18 m3 comp. I leased this car with the intention of keeping it, kept it low miles and now basically 2.5 years later I can make an informed decision on should I keep my low mileage f80 with no accident/damage or jump into the g80.. leasing just enables you to have no baggage, unless you want to switch cars within a year -- especially on a 80+k, not to mention one of the cool things about leasing is you can lease a 100k car but only have the payments you're responsible for the term of the lease be listed as the balance on your credit as opposed to the full amount - that's another good advantage over financing. Try to buy a 2nd house with 90k car loan - can be difficult. Not to mention to make it even somewhat affordable you're looking at a 6 year finance.. 6 years @ 1100+ payments, so much can happen in those six years and if you have to get rid of the car early, you're back looking at the depreciation figures, trading it in @ a loss, etc.
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10-14-2020, 05:56 AM | #25 |
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leasing generally makes sense if you are gonna change cars frequently and esp in US where residuals on many German brands are very generous (i.e. high residual low payments) and yes it does guarantee the depreciation you pay so if anything or anyone damages the car you are not gonna be underwater ... This would be the wisdom unless talking brands like Porsche in Canada or specific cases like WRX STI where cars barely depreciate but lease economics look no better than Toyotas...
In Canada at least I often found lease interest rates to be higher than financing, whether manufacturer provided or self source, and that makes sense given the extra risk on guaranteed depreciation the leasing company is taking on. Outside extreme cases like Porsche, 200bps of rate savings is min. hurdle rate for one to consider financing vs leasing. For the crowd that says its waste of money and paying the steepest depreciation curve.. well those folks wouldn't buy new cars anyways because of it... and for the drive to the ground crowd, generally wouldn't do that in a 90k M3 lol
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10-14-2020, 12:14 PM | #26 | |
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10-14-2020, 01:04 PM | #27 | ||
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Also, I do like the idea of keeping certain cars for a long time. I always envy the guys/gals who owned a E30 M3 since new. Back then, the E30 was also not considered special, or just had special as a typical M product. I bought a M2C for that intent, to drive it forever and pass it down. I'm still debating the buy vs lease option of the M3. We shall see...
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10-14-2020, 07:56 PM | #28 |
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If this is the car I will purchase, I will finance. Only leased once and never owned a new BMW. I always bought CPO and for once considering new. I am selling my 7 series tomorrow and will put down 25%. My biggest factor will be if my SA will work out a discount. Never owned a M car so I plan to keep it for a while and it may be my last ICE car
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10-14-2020, 08:44 PM | #29 | |
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Some folks buy and hold for the longer term, especially considering this is the last non-EV M3.
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10-15-2020, 06:00 AM | #30 | ||
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10-18-2021, 05:24 PM | #31 | |
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There's not much discounts (if any) for this car at the moment due to "chip" shortage. Then there's Money Factors and MSDs and etc etc to consider. But aside from all those, it's about $1100 (not less) for an 80K MSRP. Good luck |
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10-19-2021, 12:51 PM | #33 |
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For me, the .9% interest rate makes a big difference. Say you put down payment of sales tax (though obviously time value of money would suggest put minimum down), you're basically paying down principal except for a very little bit of interest each month. After 3 years, your car will be close to 60% paid off versus 43% paid off for a lease (though you're probably paying ~ $200-300 more per month). You could easily sell the car for more than you owe after 3 years. I'm sure there's holes in my argument, but it makes logical sense for me at least.
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11-01-2021, 12:07 AM | #34 | |
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11-01-2021, 04:22 AM | #35 |
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Say what? 5. who? Pffft. 0.9 or bust.
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