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      06-12-2019, 06:19 PM   #155
Marty in NY
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Originally Posted by mtnbiker5 View Post
True. I think thats what makes a BMW a BMW. Thanks guys. I'll be in line in september placing my order. Cheers.
The good news is that if you can manage the frustration of their hi tech issues, from all I've read, the G05 is still a BMW and still full of what made BMW's the Ultimate Driving Machine. So on one hand, you still get the fun and spirited BMW and on the other is the frustration of software driven features working one day but not the next and server issues causing a whole host of tech issues but they don't impact your ability to drive the car.
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      12-20-2023, 12:04 PM   #156
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Originally Posted by AustinV View Post
I want to jump into this whole lease vs. buy conversation. I was about to get into my first ever lease but still decided to stick with buying as I've always been doing, and here's why. Let's say total car price P = A + B where A is price at the end of lease and B is differential car value lost over the lease term.

1. When leasing, you still pay interest on whole A + B amount (at least where I live) even though you are paying off entire B amount. So pretty much the same interest as finance, although lease interest is generally higher, for example currently 2.99% finance vs. 4.49% lease on X5 in Canada. Yes you can do MSDs, but it's still temporarily giving away your money while making you more dependent at lease return time.

2. Yes you are paying more monthly when financing, but at the end you are building yourself "trade-in" capital that's going to work for you all years ahead. This is also why I don't want to lease because I can't now use this trade in value effectively for my lease.

3. Leasing adds some more fees. One of them is lease return insurance of ~ $1,500 where they turn blind eye on some extra wear and tear / "damages". You can skip it though but it adds some risk of ending up with car return fees, which can be rather high on the luxury car. Plus you need to put brand new tires on it so add here another ~ $1,500. Trading in you can just have "some" life remaining on your tires.

4. Of course mileage limitation where you always need to watch for how much you can drive "your" car, always reminding you it's not really your car after all.

5. At lease return you are pressured by time to get a new car and can't really have a freedom of making a sound financial decision of for example waiting for a new model year couple more months, or simply do some extra shopping around. THEY know it, and THEY will take advantage of it! With the trade in, you can just walk away at any moment during your negotiation. With lease return if you don't lease again, they will likely penalize you with some extra damages payments.

6. So basically with lease you are "on the hook" for a lot of things, and I hate this feeling.

7. You can still drive new car every 4 - 5 years while owning vs. leasing. And end up having more money in your pocket. If you want even "more" money, just own it for extra few years. It's your decision after all. If the new car sensation is so much burning you, go ahead after 4 years, at this point you still save on lease fees + interest + car return fees + tires + negotiation leverage. It's at least $10k - $15k in my estimate combined, if not more.

8. ONLY two things that's giving me concerns with this lease vs. own thing - 1) If I get into some serious accident, even after fully repaired my car will lose trade in value while lease will just go back to the dealer. Well, I guess it the risk you need to accept for the better financial decision. 2) If the new car has issues or you don't like it, you just get rid of it at lease end. Of course you can still trade it in, so it's less of an issue. It's just easier to live with it, knowing it's not your car after all.

So at the end I see owning as a better financial decision. Now if let's say you can charge lease back to your business it's whole another story, but generally owning is still better.

Also if you drive the car , at the end of the lease to lets say 95000 kms. Im sure your car value will also take a hit
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      12-20-2023, 02:22 PM   #157
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I bought my X5, and my previous bimmer.
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      12-20-2023, 02:28 PM   #158
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You realize this thread is over 4 years old ...
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      12-20-2023, 03:21 PM   #159
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Originally Posted by weinerbarn View Post
You realize this thread is over 4 years old ...
The question is still relevant though

I've purchased all my cars new, I usually keep them for ~6-7 years. That way I'm just barely out of warranty when I do sell them.
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      12-20-2023, 04:13 PM   #160
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BMW has continually lowered lease residual values over the past few years to make leasing completely unattractive here in Canada.

Car makers have all colluded to setting 4 year leases as standard also. 20 years ago 3 year was normal, but not any more. I don't know when the push for 4 years became standard.

Rob
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      12-20-2023, 04:58 PM   #161
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I swap in and out of cars far too often to be stuck with a single one for 3-4 years. I bought my '22 X5 used with 9k miles on it so someone else already had eaten some depreciation on it. But I am finding the resale value to plummet quickly.
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      12-20-2023, 05:14 PM   #162
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I usually pay cash for mine, but the X5, the interest rate to take a loan was only 0.9%, so I took a loan out for it and invested the money. I don't drive all that much anymore, so they don't get a lot of miles on them, so things tend to age out versus wear out. I've not had to replace brakes on a vehicle in probably 15-years. I'm still capable of doing some of the routine maintenance myself, but depending on what it is, will let the dealer or other shop do it. Just depends.

If I was a high mileage driver, that might change my mind, but I don't tend to buy a new vehicle unless the old one either pisses me off, or there's some really compelling reason to get the new one with features I really want. It can help if you don't skimp on the new one so you don't get into the 'I wish I had x' option.
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      12-20-2023, 05:32 PM   #163
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Bought my 2002 540. 10 yrs, 120k miles.
Bought my 2022 X5 40. Plan on 10 yrs. Great deal.

Is telling somebody today, absolute luxury, inside, and 24+ miles per gallon. At 75 mph, beat that.
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      12-20-2023, 06:21 PM   #164
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Bought my 2024 X5 M60i outright. I drive over 20k miles per year and usually keep them 5-6 years. Have bought 8 of 9 BMW’s new mostly M models. Haven’t regretted it yet.
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      12-20-2023, 06:42 PM   #165
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Gotta love necrothreads!!

Buyers here, and I've never leased a car. We did borrow money for my wife's X5, but only because it was dirt cheap and both interest rates and inflation were clearly headed up. We keep cars a long time (the last 4 besides our current dailies are 23 and 20 years, so far, and 13 and 6 years for the two we sold, and selling my JKURX at 6 years was a mistake), but I seriously doubt I'll own a German car for a long period. If it's trouble-free for 4-5 years, we won't likely push our luck any longer.

Mark
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      12-20-2023, 07:48 PM   #166
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Bought the last 2. - leased the previous ones
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      12-20-2023, 09:17 PM   #167
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Always have bought just off lease bmws 2-3 years old run them 3-4 years make sure I’m way ahead on equity and use that as a way to make a down payment via trade into a new one. Does suck right now on interest rates.
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      12-20-2023, 09:57 PM   #168
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Buyer here as well, but will lease I’d deal is great. I have leased twice with this situation, QX60 and MDX. Both were found by leasehackr, zero down, 0.6% msrp monthly payment kind of deal, which doesn’t exist anymore.
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      12-21-2023, 02:06 AM   #169
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Nothing like resurrecting an old thread. I normally buy but the temptation of having a rental car (leasing) might be too great the next time. WOT all the time, no break-in.... mmmmmmm.
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      12-21-2023, 08:35 AM   #170
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I’ve bought every single one of my cars….and I have not kept a single one more than 4 years or 50k miles at the most. Usually get a new one in 2-3 years.

Prior to Covid, I drove too many miles to make leasing an option. Perhaps it might be time to revisit that now though.
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      12-21-2023, 09:49 AM   #171
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Quote:
Originally Posted by davramic View Post
Bought mine. I did a BMW lease twice and when they go through at the end and look at the wear and tear of the vehicle and if you go over miles... wow. Got a huge penalty both times. Not a fan of leases; life throws you a curve ball at all and you will pay through the nose!
If you trade your leases in before say six months, you would avoid all these cost dealer most likely will waive the higher mileage also to put you in a new car I never turn my leases in that way I can avoid all cost typically buy one and lease one
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      12-21-2023, 09:49 AM   #172
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Bought my last 3 BMWs and all other cars for past 35+ years.
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      12-21-2023, 09:56 AM   #173
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Originally Posted by Jastevenson View Post
Hi all,

Have been looking closely at the X5 and really like it. I prefer to purchase vehicles and keep them for at least 6 years. However, it seems like 95% of people I see on here leased rather than bought.

Has anyone actually purchased their X5? What are your thoughts on the risks of out of warranty ownership of an advanced vehicle like this one, particularly a first year model...

Thanks!
I have bought my last 3 BMW's.. always a better deal for me. Low mileage, low risk of damage...
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      12-21-2023, 10:13 AM   #174
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You realize this thread is over 4 years old ...
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      12-21-2023, 10:19 AM   #175
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I happily owned my MY18 440i GC for 6 years (lease buyout) and currently enjoying my g05 M50i (cash purchase)
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      12-21-2023, 10:54 AM   #176
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I bought mine because I wasn't sure how many miles I was going to put on it.

As for the old thread, if someone wanted to continue the discussion, what would be the point of starting an entirely new one?
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