04-23-2019, 06:52 AM | #1 |
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Does anyone actually buy (not lease) BMWs?
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! |
04-23-2019, 07:11 AM | #2 |
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I had my e70 for 10 years. I decided to lease because it's year 1 of a complete redesign with lots of new tech. Or rather I should say, new to BMW. I would wait a year to get all the kinks worked out if going to buy.
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04-23-2019, 07:13 AM | #3 |
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I kept going back and forth between lease vs buy for my g05 but ended up leasing. I don't plan to keep the car more than 3-4 years and I don't drive more than usual mileage so buying didn't make sense for me financially
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04-23-2019, 07:33 AM | #4 |
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Bimmers are driver's cars and as weird as it is to say at these price points, they are a (relative) bargain in that category. Hence the desire to drive one. It is also pretty consistent that bimmers are at best average reliability (it's no Toyota), yet very expensive to repair. Take that all together, for me, I will never again a) operate a bimmer not covered by some kind of significant warranty, and b) operate a bimmer I cannot eventually return at known financial commitment level. Hence leases from now on.
I may end up buying out the lease and extend the warranty at the end if, by then, it turns out this X5 is reliable. As such, I will take excellent care of the car during the lease. But history is not on my side for this outcome.
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04-23-2019, 07:37 AM | #5 |
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I bought mine outright.
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04-23-2019, 07:45 AM | #6 | |
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04-23-2019, 07:48 AM | #7 |
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No, not 95% lease BMW’s. Perhaps 70% lease entry level BMW’s but you will find most people that buy their cars outright don’t advertise it on forums so you won’t get a real world picture.
For the record, I only buy all my vehicles. I was discussing this topic with my local BMW dealer sales manager and in my area it seems to be that the higher end models are almost always purchased and the lower priced models like the 3 series and similar price point vehicles are leased more. It’s designed to get aspirational buyers into the brand easier. It’s always been that way with luxury brands. MB is the king of leasing deals with their entry level vehicles. In my experience with Porsche over the last 28 years that 911’s are always purchased in my area as they are enthusiast and not brand flaunting. Last edited by MystroX5; 04-23-2019 at 09:32 AM.. |
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04-23-2019, 08:14 AM | #8 |
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G05 owner here.
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04-23-2019, 08:49 AM | #11 |
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I have always purchased, since I tend to put many miles on and so far been keeping a very respectable down payment from sell/trade of current one for the new one.
Something I have always done, is take the payment of two vehicles (wife and mine) say is X. If we trade or buy another vehicle and its less that of what X was I take the remainder and put it in a savings account for the next down payment. That does two things for us, keeps us always at a car payment we are comfortable with and in some cases allows me to buy a more expensive car with larger down payment. Typically keep car for 5-7 years. So it adds up from time to time.
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04-23-2019, 09:00 AM | #12 |
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We always purchase out right or a good chunk of it to not worry about payments. If no major problems, drive it for 5-8yrs, before we upgrade. Usually wife gets the new one and i get a hand me down. If this X5 holds up, I'm getting the X6 or M5
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04-23-2019, 09:27 AM | #14 |
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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!
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04-23-2019, 09:28 AM | #15 |
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04-23-2019, 09:33 AM | #16 |
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I purchased mine, No lease.
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04-23-2019, 09:35 AM | #17 |
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I bought my wife's G05 just as I have each of the previous 4 BMWs. That approach has worked well for us because we buy them well optioned and keep them for years after the payments stop.
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04-23-2019, 09:42 AM | #19 | |
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04-23-2019, 10:28 AM | #20 |
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I purchase all of my cars, mostly for the flexibility of having the choice of when to get out of it. I find that with the higher end cars the tipping point is around 3 years. If I get rid of the car before three years my cost would have been lower if I had leased. Once I get to around three years of ownership it’s a break even, and after three years I generally come out ahead.
About 5 years ago I bought a 6 Series Gran Coup. After 6 months I wanted out. I took a huge beating, but that was my decision. I then went and purchased a Range Rover Sport Supercharged. I ended up liking that SUV more than I thought I would. It’s been trouble free and a blast to drive, so I’ve kept it for 4 years. My cost of ownership was really quite good, much better than if I’d leased it. I’m trading it in for the new X5 (50i) this week and I hope I have as good an experience with the new X5 as I did with the Range Rover, and that I’ll want to keep it for four years too. |
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04-23-2019, 10:35 AM | #21 | |
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Some lease to avoid spending cash so they can use that cash for supposedly financially smarter uses. Others lease because the monthy lease amount is lower than payments on a loan and they then, in their mind, can "afford" a nicer car than they could if they bought the car. Others lease because they like their cars in warranty and don't want the risk of an expensive repair. Depending on a person's financial situation and risk aversion level, leasing is either a good thing or a bad thing. Personally, I'd rather purchase and keep for awhile and not have perpetual payments. Hard choice. Whatever you decide, enjoy your new G05! |
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04-23-2019, 10:38 AM | #22 |
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Bought mine too.
No interest in paying the interest. However, leasing has its own pros and cons; just a few here; Pros; 1. Returning a leased car allows you to get a newer thing to try out. 2. Don't care about faults, recalls, negative feedback, performance, depreciation, aging etc. about the car Cons; 1. More liabilities on you as the car is not your property 2. Mileage anxiety 3. Returning in the shape it was given to you 4. Paying some extra $$ (comparing to if had bought and sold in three years) |
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