04-23-2019, 07:19 PM | #46 | |
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04-24-2019, 01:37 AM | #50 |
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I like having new cars, so I lease. Also I get tired of driving the same car for more than 3 years. This is my 8th BMW since 2006 when I fell in love with how they drove. Its kind of like cell phones for me, I like having the newest model that's out. lol
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04-24-2019, 05:20 AM | #51 |
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I buy and keep my cars for at least 10 years. I average over 20,000 miles a year so leasing doesn’t work for me. My 2011 328 has 172,000 in 8 years of ownership and my wife hates her 2014 CX5, so that will be our trade for a new X5.
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04-24-2019, 06:36 AM | #52 | |
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Buying my G05 outright. Arrives at the dealer today or tomorrow. |
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04-24-2019, 09:12 AM | #53 | |
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And ditto on purchasing...I've never leased a car.
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04-24-2019, 09:15 AM | #54 |
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Should probably poll...but sounds like the segment of the bmw purchasing population that's on the forums prefers the purchase option...interesting.
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04-24-2019, 09:23 AM | #55 |
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I'm leasing my 2018 F15, which I will turn in with 20K miles and my 2017 330e, which I will turn in with less than 10K miles. I'm retired and don't commute. In each case, I think I would have been better off by purchasing because of the low miles. Some things to consider:
1) If you purchase a heavily-optioned car of a model that doesn't typically have a lot of options on the dealer-ordered cars on the showroom floor, lease can be a better deal. If the residual on a lease is 55%, that means options are only costing you 45% of their list. If you owned, when it came time to resell and you had a lot of options that were not on typical cars of your type, you get very little of the options cost back. The X5's I see on the showroom floor seem to have the basic options like "premium package" etc, but not things like air suspension, Burmeister sound, and full leather. This says if you are going to"load her up" you should lease. 2) In the recent past, BMW incentivized leases by offering unrealistically high residual values to lower lease payments. My 2015 528i was one of those. My 2018 F15 was not so graced and there is much chatter on this forum about how BMW is not jacking up the lease residuals, any more. 3) If you want to change cars ahead of the lease term, you will take a bath. 4) Leasing removes the residual value risk--I bought my 2014 i3 on first release and took a bath when I sold it 3 years later, compared to what my monthly cost would have been if I had leased. Buying a car in the first release year can be a crap shoot. 5) Tax credits for PHEV's. If you lease, BMW is only giving you credit for about half of the Federal Tax credit in capital cost reduction. If you purchase, you get it all. |
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04-24-2019, 09:31 AM | #56 |
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I don't think forum members represent the buying population as a whole. I could be wrong but feel it would be slanted towards enthusiasts, brand loyalists, people with problems, etc.
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04-24-2019, 12:52 PM | #57 |
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I've owned 3 BMW's (F25, F15 and G01) and all were purchased. Only vehicle I have leased was my '17 Audi S6, and that will continue to be the only vehicle I've not purchased (I'm currently on my 11th vehicle). I don't worry so much about depreciation, since I am getting use out of the vehicle while I own it, and that is worth the trade in hit I take.
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04-24-2019, 02:03 PM | #58 |
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I was planning on leasing 2 new cars this year and ended up buying both because I thought interest rates (both lease and finance) were too high and there were better cash incentives for purchase than there were for lease. Specifically, on the X5, there was (if I recall correctly) a $1250 BMW credit for buying. (Interestingly, the incentives were better to lease an X2.)
Additionally, there's a pretty good sales tax advantage for trading in a used vehicle for a new one. The G05 is a completely new platform and leads its class right now (wasn't the last refresh 2013?) so it will be fresh for 4-5 years.
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04-24-2019, 03:01 PM | #59 | |
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04-25-2019, 07:26 AM | #60 |
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Financed for a few weeks (for the discount) then paid it off. Leasing is usually more expensive.
Why do you think dealers are always pushing for them? |
04-25-2019, 09:02 AM | #61 |
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Word.
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04-25-2019, 09:13 AM | #62 |
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Decision can be heavily affected by State sales tax practices. In TX, one pays the sales tax on the full amount of the deal at inception, even though it may only be a 3-yr lease with a 59% residual. If one owned the car, the trade-in offsets the amount on which sales tax is assessed. This is a strong incentive to purchase, in TX. I understand that some states assess sales tax on the lease payment.
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04-25-2019, 11:01 AM | #63 |
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Any car you own whether you purchased it cash, financed or leased, you have to calculate your overall cost per month over the entire time you owned it including any repairs.
BMWs have better residuals and MF than Porsche, LR, and Mercedes, this makes them more attractive for leases. If you do the math, specially if you put higher miles on the cars, 12K plus, then the total ownership per month if you purchase it vs lease it, within the 4-5 years, it's mostly the same on these cars, the difference is with lease you know exactly what it's costing you to drive the car and you don't put anything down, funds can be used for other things, with finance you take a chance of a higher loss when you trade it in and usually have funds stuck when you put money down. I say 80% of people switch cars after the 4th year, once issues start and you are making those annoying repair trips and dealing with repair costs, it just doesn't make sense. Not to mention exterior and interior conditions have deteriorated by then. The great thing about leasing is also that you can just buy the car at the end of the lease if you prefer. Last edited by ///Armin; 04-25-2019 at 11:08 AM.. |
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04-25-2019, 11:20 AM | #64 |
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There is nothing that replaces owning with the actual title in hand. Same goes for not having a mortgage and deed in hand. This give you real equity and ultimate financial flexibility. The path to owning and not renting in life requires the initial investment to alway do what it takes to own and break the cycle of thinking in terms of payments.
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04-25-2019, 12:43 PM | #65 |
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04-25-2019, 05:50 PM | #66 | |
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Heck, I didn't even get my first brand new car until 10 years after I was out of college and then I paid cash for it. I wanted to get my house first, my retirement plan fully funded and get money in the bank for my kids education. Now, my home is paid for, my kids are out of college with no student loan debt and I can buy any car I want. That said, the next post after yours (#65) makes some sense too. He said, "I like having new cars, so I lease. Also I get tired of driving the same car for more than 3 years. This is my 8th BMW since 2006 when I fell in love with how they drove. Its kind of like cell phones for me, I like having the newest model that's out. lol" He has a "don't skimp and enjoy life" approach. I can't really argue with that. He drives nice cars all the time while I drove crappy cars for years so I could build a nest egg. I suppose its really a personal thing. |
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