[Auricom]

Originally Posted by KingSlayerNYC

Is it a terrible deal because of the MF or the fact I have to do the pre payment?

The later, which was the point I attempted to convey in my previous post.

[Auricom]

Originally Posted by KingSlayerNYC

Money is not a problem at all. I can even finance or buy it cash but that's not worth it as there's no point setting back funds I can use otherwise while leasing the car.

Now the pay upfront isn't a choice. I just have to do it because I wasn't getting approved otherwise.

However, I came here because overall I do wish to lease and would like any help when it comes to leasing as I've never leased before.

For what it's worth., and correct me if I'm wrong, there shouldn't be too much of an drastic difference between a Tier 1 MF and a 0.00181 ?

Emphasis on the word drastic.

Actually paying upfront is a choice
Don't lease a $82K vehicle

You just contradicted your point by throwing away $15K to get qualified on lease. Goal of leasing is not to put any money down.

Smart approach and to build equity is you should use that money to finance a vehicle with a lower MSRP.

[drivermonster]

Hello, I see you got a lease four years ago. I’m looking into leasing my first car. They are asking for the high down payment because of my credit score. Can you tell me your experience with this and was it worth it? Thank you!

[TurtleBoy]

Originally Posted by drivermonster

Hello, I see you got a lease four years ago. I’m looking into leasing my first car. They are asking for the high down payment because of my credit score. Can you tell me your experience with this and was it worth it? Thank you!

Welcome to the forum. You don't want to put a down payment on a case size you will lose it should the vehicle get totaled/stolen early in the lease. If your credit score is an issue then I would suggest looking at a less expensive vehicle and use that to build your credit score up. Maybe after that lease then look at an X5.

[LDT]

drivermonster Rule #1 with leasing is to make zero down payment. As TB says you risk losing big $$ if the vehicle is totaled or stolen.

[Artdnj]

BMWs usually lease very, very well. There are great programs and maintenance included for the 3 years.If you do the numbers there is very little monetary difference between leasing and purchasing/Financing over a three year term with the latter providing a bit more work to trade in vs just dropping it off.

If you plan on keeping it long term def purchase it but if you want a new car every 3 years or so and keep mileage under 15k average per year leasing is hard to beat when it comes to BMW

[LDT]

Originally Posted by Artdnj

BMWs usually lease very, very well. There are great programs and maintenance included for the 3 years.If you do the numbers there is very little monetary difference between leasing and purchasing/Financing over a three year term with the latter providing a bit more work to trade in vs just dropping it off.

If you plan on keeping it long term def purchase it but if you want a new car every 3 years or so and keep mileage under 15k average per year leasing is hard to beat when it comes to BMW

Amongst the lux brands including BMW, Porsche, Benz and Audi……yes the BMW does lease well. However, residual values have decreased and MF has increased compared to the good old pre Covid days.

[TurtleBoy]

Originally Posted by Artdnj

BMWs usually lease very, very well. There are great programs and maintenance included for the 3 years.If you do the numbers there is very little monetary difference between leasing and purchasing/Financing over a three year term with the latter providing a bit more work to trade in vs just dropping it off.

If you plan on keeping it long term def purchase it but if you want a new car every 3 years or so and keep mileage under 15k average per year leasing is hard to beat when it comes to BMW

There is rarely a monetary advantage to leasing except in cases of large lease cash. There are no extra programs or maintenance for leasing so not sure what you are referring to. There are valid reasons to lease but being less expensive is usually not one of them.

[Artdnj]

On my last two leases I compared the numbers after the lease term ended. Financed vs lease and if I traded the financed one in and just gave the leased one back and leased again the cost for 36 mo was about equal. The benefit of the lease was that I had incentives to turn it in early and get a new vehicle every 2.75-36 mo as opposed to negotiating the trade in. The only benefit of financing in my case would have been keeping it long term or getting lucky (hard to say) during the crazy COVID times whereas equity was to the moon but that was actually true for leased vehicles as well.

I am currently paying 650 for a 23 X3 M-sport fairly loaded with 2500 down and this was a COVID purchase when it was HARD to get. Please educate me because in 18 months I may go into an X5 and contemplating financing but only if the numbers work.

[TurtleBoy]

Originally Posted by Artdnj

I am currently paying 650 for a 23 X3 M-sport fairly loaded with 2500 down and this was a COVID purchase when it was HARD to get. Please educate me because in 18 months I may go into an X5 and contemplating financing but only if the numbers work.

The education isn't on what is better but rather on how to run the numbers of the specific situation in order to make a determination. I have not seen leasing a BMW being better, from a total cost point of view, in quite a few years. You also need to make sure you are comparing apples to apples using various dealers, looking at all incentives, exploring financing options, etc.

Like I said, there are very valid reason for leasing such as always wanting a new vehicle, wanting to try a new brand or type, not wanting to have one out of warranty, not wanting to deal with the trade-in process, etc.

I initially leased my X5 in 2019. I knew from running the numbers that leasing it was more expensive than if I would have purchased it but it was my first BMW and my first SUV and didn't want to purchase. Once I decided I wanted I it I bought out the lease early and saved over a grand.

Disregarding the financial perspective, you need to do what you are most comfortable with. If leasing works out best for you, no matter what the financial impacts, then continue to do that. It is not always a financial decision point.

[soldes]

Aside from the Financial plus and cons, this can simplyfy your though process:

Going to keep the car for more than 3 years ==> BUY

Not going to keep the car for more than 3 years ==> Lease.

[TurtleBoy]

Originally Posted by soldes

Aside from the Financial plus and cons, this can simplyfy your though process:

Going to keep the car for more than 3 years ==> BUY

Not going to keep the car for more than 3 years ==> Lease.

Yes, aside from financial that would fall into the always want new category. That works well for many folks.

[LDT]

I leased my M60i (36/10). Per Cox Automotive research there will be an unusually low number of vehicles coming off lease at least through 2026 therefore driving up used car prices. Aug 2026 is my lease end date and given the likely continuation of inflated used car prices I will buy it at lease end and flip it soon thereafter or certainly before the warranty expires in late spring of 2027. Living in SC where the sales tax on autos is capped at $500 makes it a no brainer. Of note is that I’ll be 8–10,000 miles over my allowed miles at lease end which has no bearing on it's residual value. Also of note is that my lease document has a typo and states a charge of -0- (zero) per mile for excess miles. I doubt that I’ll play that card but it’ll remain up my sleeve.

[Artdnj]

Originally Posted by LDT

I leased my M60i (36/10). Per Cox Automotive research there will be an unusually low number of vehicles coming off lease at least through 2026 therefore driving up used car prices. Aug 2026 is my lease end date and given the likely continuation of inflated used car prices I will buy it at lease end and flip it soon thereafter or certainly before the warranty expires in late spring of 2027. Living in SC where the sales tax on autos is capped at $500 makes it a no brainer. Of note is that I’ll be 8–10,000 miles over my allowed miles at lease end which has no bearing on it's residual value. Also of note is that my lease document has a typo and states a charge of -0- (zero) per mile for excess miles. I doubt that I’ll play that card but it’ll remain up my sleeve.

You'll likely be offered a deal 3-6 mo before lease end to get you in a new one. They would eat the mileage overage.

[TurtleBoy]

Originally Posted by Artdnj

You'll likely be offered a deal 3-6 mo before lease end to get you in a new one. They would eat the mileage overage.

BMW ended the lease pull ahead program in 2018. Some dealers will try to get you into one early but usually roll the difference into the next vehicle unless the current value has some room in it for them.

[Artdnj]

Originally Posted by TurtleBoy

BMW ended the lease pull ahead program in 2018. Some dealers will try to get you into one early but usually roll the difference into the next vehicle unless the current value has some room in it for them.

Didn't know that, I always seem to get those fliers around 6 mo prior to lease end and assumed it was the pull ahead. thx

[LDT]

Originally Posted by TurtleBoy

BMW ended the lease pull ahead program in 2018. Some dealers will try to get you into one early but usually roll the difference into the next vehicle unless the current value has some room in it for them.

I have 16 months remaining. Interesting that recently, from the selling dealer, I got an offer to flip into a similarly equipped MY ‘25 M60i at zero out of pocket and same payment. New 36 m lease. I’m not interested but thought I’d share. This tells me that they can flip my 2024 at a profit.

[TurtleBoy]

Originally Posted by LDT

I have 16 months remaining. Interesting that recently, from the selling dealer, I got an offer to flip into a similarly equipped MY ‘25 M60i at zero out of pocket and same payment. New 36 m lease. I’m not interested but thought I’d share. This tells me that they can flip my 2024 at a profit.

Yes, many dealers will send out offers like that in order to sell/lease another. Those are dealer sponsored offers though and not the BMWNA pull aheads that once existed.

You are correct in that thinking, they are doing it not only to move a new vehicle but also make some money off the returned one.

[LuckyBrand]

Originally Posted by LDT

I have 16 months remaining. Interesting that recently, from the selling dealer, I got an offer to flip into a similarly equipped MY ‘25 M60i at zero out of pocket and same payment. New 36 m lease. I’m not interested but thought I’d share. This tells me that they can flip my 2024 at a profit.

I get 2 mailings a week at least from 2 different dealers I’ve bought from wanting to acquire my M3 with basically the same type of deal your getting.