07-12-2024, 10:24 AM | #23 | ||
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For you owning a car is important, for me its meaningless. I own things that go up in value, I have no interest in owning a car that loses $1,500 a month in value. I can take that $120,000 and do something with it that will make money, not lose money. You and I are on different planets. |
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07-12-2024, 11:31 AM | #24 |
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The arguments where people try to dunk on leasers while they "own" something that eventually goes to being worth 0 is always funny to me. Congratulations on owning a 7 year old car with "no payments" that will still cost you thousands a year in maintenance. I'll take my new car every 3 years with the option to buy it for a little bit more if I really fall in love with it.
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07-12-2024, 12:56 PM | #25 | |
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Cars are one of the worst investments on earth, especially new ones. It's a pure pleasure fee. Choosing not to lease in scenarios where it hurts your pockets the least is just silly. |
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07-12-2024, 01:10 PM | #26 | |
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BMW cars attract a certain type of individual. It's so popular because it is well built, Sporty, exciting to drive, and because to most people, it symbolizes success. It is a symbol of how high they have come in life. They want to be seen driving it, showing it to their friends and feeling respected and envied by their peers. It says you are not boring, and are willing to pay the price to get what you want. All those things and more. It is more car than the average person can hope to reach. Most who can't get one, want one. Even if they say they don't. The more discerning people custom order instead of selecting a stock vehicle from the dealer. They want those extra options the dealers don't order because it would make the car harder to sell. They are willing to pay the higher price to get what they want. The lease is so much more popular because that way BMW gets to move more cars. It extends the customer base. People who cannot afford to buy it, but can afford to lease can still reach the driver's seat. As long as they are leasing it it is still "their car" It's nobody's business when they see them driving down the road whether it is leased or purchased. There are no special license plates that say "Hi. Leased car here." And they take as much pride in their car as you or I do. Yes, there are some people that just want a new car every 3 years, and don't want the hassle of selling or negotiating a trade. But that is the exception, not the rule, I feel. I could be wrong, but I believe most personal Lessees (Not Corporate) would buy it if they could. And there is also a lot to be said about the corporate leases. Companies can write it off, and their executives get a solid luxury Sport Sedan, that will be under warranty the duration of their lease. It's part of their image. It says the company is successful enough it can provide these cars to their top people. I bet when they give an allowance, instead of the car itself, see what the top people have. It says something about who they have working for them to all the competition. That said, I once moved into a neighborhood in St. John's County in Florida. Near St. Augustine. When the neighbors came to introduce themselves they smilingly asked if we had bought the house, then changed it to a sneer and added "Or are you Renting?" I calmly told them we had purchased the house. And that they were welcome because I probably raised their property value. They continued to be friendly to me. I noticed later, how they never associated with renters in the same neighborhood. Now, this was in 2005, right before the real estate market crash in 2007. That's how I found out that most of these people, were flippers. They all had sub-prime "Interest only" mortgages for 5 years. Then they would sell the house for a profit right before the principal payments kicked in at 5 years and move on to another Sub-Prime. They would then invest the profits for a higher down payment. The goal was to do this a few times until they could buy a home outright for cash and not have to worry about a mortgage. All of them got stuck when the market crashed and couldn't sell the houses. Almost all of them foreclosed when the principal kicked in or the balloon payment was due. I found that my home had lost considerable value overnight. But since I was on a conventional fixed rate, it did not affect me long term. The moral of this story is: Don't knock Lessees. Everyone has their own reasons. Personal or corporate. Everyone deserves to reach however far as they can. If they want to drive a BMW, don't look down on them just because it makes you feel superior. I certainly don't. I would rather be friends with an honest "Lessee" than a snobbish owner. Oh, this is a general statement. Not knocking you NYG. Sorry if it looks that way. Last edited by AiredaleDad; 07-12-2024 at 01:11 PM.. Reason: content. |
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07-12-2024, 01:18 PM | #27 |
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Leasing and buying brand new cars are both "pay-to-use" costs. Sometimes, leasing is cheaper, and sometimes, buying is cheaper assuming the length of ownership is the same. There is no single correct answer here. It all varies on brand, car, and terms.
For example: Our lease on our 2021 M550i just ended. MSRP was $85,600. Our lease payment was $806 a month. The car is now for sale at the dealership for $53,000 and will probably sell for 51-52k. If I had paid cash for the car outright, I would have spent several thousand more dollars than I would have leasing it for 3 years. However, the longer I owned the car, the more paying cash would tip the scales as the better option.
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07-12-2024, 01:21 PM | #28 | |
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Like I said, I've bought cars cash, I've financed and leased a bunch of times before. I just do whatever makes sense financially as I'd rather spend/invest it elsewhere. So I'm not in disagreement with your general statement. |
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07-12-2024, 03:41 PM | #29 |
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why do you even care?.. let people drive whatever they wanna drive.. jeez... world would be a better place if people would mind their own business.
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07-12-2024, 04:13 PM | #30 | |
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07-13-2024, 04:22 PM | #31 | |
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Serial leases are their wheelhouse. The vast majority of owners can't afford post warranty repairs and BMW doesn't care. If their cars ended up in the junkyard at 7 yrs of age BMW would not care. The only reason they don't is because the luxury segment requires that they build better than cheaper make so their cars actually cosmetically are better upwards of a decade or later. Mechanically BMW has nothing to gain by packaging cars which are easier/cheaper to repair. Ponder this for a moment. Why after 40-50 years BMW has not been able to build an engine which doesn't start leaking oil at around 50k miles?
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07-15-2024, 10:38 AM | #32 |
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The more I think about it the more I think I should lease one. I have money to pay cash, but have always been frugal, so to plop down 80k for a car that depreciates rapidly is against my better judgement. That 80k could be earning me money somewhere else. Leasing it for 3-4 years might be close to a wash financially within reason. But I would say there is still the perception out there that a BMW is expensive to fix and maintain especially out of warranty, and if you like a new vehicle every few years it's the way to go.
I have owned Fords and other brands and even the wife's Lexus has crappy depreciation as soon as we drove it off the lot. I would be buying this because I want a more luxurious and sporty vehicle versus a Toyota Highlander or Mazda CX-70. I'm still on the fence because I am waiting to test drive an Explorer ST which is about 20k cheaper than a comparably equipped X5 and has little things like power folding seats and the keypad on the door to lock my keys in the vehicle while I am out running etc. |
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07-17-2024, 07:37 AM | #33 | |
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07-17-2024, 07:40 AM | #34 | |
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The right opportunity to trade always reveals itself. Worst case I break even, I have also made money. Never have to worry about mileage or repairs etc. |
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07-17-2024, 06:05 PM | #35 |
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This.
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07-17-2024, 09:10 PM | #36 | |
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Last edited by Efthreeoh; 07-17-2024 at 10:08 PM.. |
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07-18-2024, 06:18 PM | #37 |
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It's literally what this thread is titled. Can you read?
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07-18-2024, 06:20 PM | #38 | |
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None of this is even factoring the enjoyable experience of modifications which good luck on a leased car. You could do it I guess, but more money down the drain when you turn it back in.
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07-18-2024, 07:48 PM | #39 |
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you obviously cant..
"Rental economy is slavery and people who lease are just slaves with no ownership of anything. People rent furniture, rent electronics, rent vehicles, the list goes on these days. If you can't afford why do you have it?" do you know me?..do you know if I can or cannot afford the damn car?.. so Im a slave because I decided to lease?.. so if I lease i cant afford?.. Lol bro.. just be quiet. |
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07-18-2024, 08:27 PM | #40 |
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I purchased my Z4 last year, but had been leasing for the previous 15 years or so. Decided to buy because the leases weren’t great on this car.
I like to get something new or different every couple of years, so leasing made sense. Seems a little easier to me than buying then selling after 3 years and having to worry about something like an accident hurting the value. |
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07-18-2024, 08:37 PM | #41 | |
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07-18-2024, 08:38 PM | #42 | |
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07-19-2024, 08:10 AM | #43 |
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07-19-2024, 08:50 AM | #44 | |
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