BMW Garage BMW Meets Register Search Today's Posts Mark Forums Read
BIMMERPOST Universal Forums Off-Topic Discussions Board Affordable daily - Lease questions and options

Post Reply
 
Thread Tools Search this Thread
      10-26-2021, 05:08 PM   #23
wtwo3
Major General
wtwo3's Avatar
17881
Rep
5,463
Posts

Drives: 23 X7 40i; 23 M3; 24 cooper s
Join Date: Aug 2019
Location: IL

iTrader: (0)

Garage List
Quote:
Originally Posted by spazzyfry123 View Post
I was thinking the same thing! That's some crazy money for what it is.

But hell I've been hearing stories of people paying $8k over sticker for a Rav4. Wild.
You couldn't give me a Rav4 for free!

My parents have one and I despise it.
__________________
2023 BMW X7 xDrive40i
2023 BMW M3 6MT
2024 Mini Cooper S Convertible

'20 BMW m340i... '20 BMW X5 40i... '16 Infiniti Q50 RS 400... '10 Lexus RX 350... '08 Lexus IS 350... '00 Nissan Maxima... '93 Nissan Maxima
Appreciate 0
      10-26-2021, 05:36 PM   #24
Amazinjoey
Private
28
Rep
69
Posts

Drives: BMW 320Dx 2013
Join Date: Mar 2021
Location: Sweden

iTrader: (0)

Don't know what it is in your country but here in sweden we could get a Polestar 2 with everything except performance pack and 25 000km per year for around 400 USD. Pretty good deal.
Appreciate 0
      10-27-2021, 07:26 AM   #25
Alfisti
Brigadier General
6453
Rep
3,009
Posts

Drives: 2008 Saab 9-3 Combi
Join Date: Nov 2014
Location: Toronto, Canada

iTrader: (0)

THose prices are not really COVID related, that's just what we pay for cars. YOu want a real eye opener, try Australia.
Appreciate 0
      10-27-2021, 09:03 AM   #26
Reborn_
Lieutenant
292
Rep
408
Posts

Drives: 2007 BMW Z4MC
Join Date: Dec 2014
Location: SoCal

iTrader: (7)

In my view, if you are planning to keep the car, leasing then buying (assuming financing) is just spreading interest over a much longer period (thereby increasing your total cost). Of course, payments are lower, so it has value, but in my view, that is the primary downside to leasing, and buying the car after lease, if you know ahead of time you want to keep the car for 10 years. I think the upside of leasing has been well covered.
Appreciate 0
      10-27-2021, 09:04 AM   #27
Alfisti
Brigadier General
6453
Rep
3,009
Posts

Drives: 2008 Saab 9-3 Combi
Join Date: Nov 2014
Location: Toronto, Canada

iTrader: (0)

To me the big downside is getting into a habit of churning cars every 3 years, it's a super expensive habit.
Appreciate 0
      10-27-2021, 09:07 AM   #28
Reborn_
Lieutenant
292
Rep
408
Posts

Drives: 2007 BMW Z4MC
Join Date: Dec 2014
Location: SoCal

iTrader: (7)

Quote:
Originally Posted by Alfisti View Post
To me the big downside is getting into a habit of churning cars every 3 years, it's a super expensive habit.
I view that as the whole point, honestly. Makes it easy for you to always be in a new car, and the automakers sell more new cars and develop a strong used car market that dealers can benefit from at the same time.
Appreciate 1
S1nner118.00
      10-27-2021, 02:20 PM   #29
upstatedoc
I'll get back to you
upstatedoc's Avatar
7556
Rep
2,132
Posts

Drives: blue streak
Join Date: Dec 2009
Location: not downstate

iTrader: (2)

Any update OP? Do you still have the X5? And you're looking for a daily driver? And you're willing to spend $50-$70,000 on it? I'm just trying to get the facts straight.
__________________
2018 Stinger GT
2009 E90 N51 /Active Autowerke Stage 2 tune/BMW Performance Exhaust/
Countermeasure enthusiast.
Appreciate 0
      10-27-2021, 05:22 PM   #30
originalgoods13
Captain
Canada
290
Rep
625
Posts

Drives: Chevy Spark
Join Date: Oct 2012
Location: Calgary, Canada

iTrader: (0)

Quote:
Originally Posted by upstatedoc View Post
Any update OP? Do you still have the X5? And you're looking for a daily driver? And you're willing to spend $50-$70,000 on it? I'm just trying to get the facts straight.
Yes, I am still here.

Daily driver meaning just dropping off kids to school since working from home is the new normal.

Prepaid lease of $43K on 1.49%, this shaves off $6K overall.

I am banking on the rarity of the Mustang Mach 1 6MT in 4 years to be worth more than the buyout of $26K.

Although, this one is Base model with no Premium or Handling package.

I still have the X5, I don't daily it since we live close to work. 52000 miles on an 8 yr old vehicle is not bad.
Appreciate 0
      10-27-2021, 05:24 PM   #31
originalgoods13
Captain
Canada
290
Rep
625
Posts

Drives: Chevy Spark
Join Date: Oct 2012
Location: Calgary, Canada

iTrader: (0)

2021 Subaru STI is sold out, 2022 won't be out til next fall.
Appreciate 0
      10-28-2021, 07:00 AM   #32
Amazinjoey
Private
28
Rep
69
Posts

Drives: BMW 320Dx 2013
Join Date: Mar 2021
Location: Sweden

iTrader: (0)

TBH, Brand new ICE car for driving the kids to school is a bad Idea, I would go electric
Appreciate 0
      10-28-2021, 07:28 AM   #33
Alfisti
Brigadier General
6453
Rep
3,009
Posts

Drives: 2008 Saab 9-3 Combi
Join Date: Nov 2014
Location: Toronto, Canada

iTrader: (0)

Quote:
Originally Posted by Amazinjoey View Post
TBH, Brand new ICE car for driving the kids to school is a bad Idea, I would go electric
Banned.
Appreciate 3
S1nner118.00
upstatedoc7555.50
      10-28-2021, 02:16 PM   #34
upstatedoc
I'll get back to you
upstatedoc's Avatar
7556
Rep
2,132
Posts

Drives: blue streak
Join Date: Dec 2009
Location: not downstate

iTrader: (2)

Quote:
Originally Posted by Alfisti View Post
Banned.
for life
__________________
2018 Stinger GT
2009 E90 N51 /Active Autowerke Stage 2 tune/BMW Performance Exhaust/
Countermeasure enthusiast.
Appreciate 0
      10-29-2021, 08:01 AM   #35
Maitre_Absolut
Captain
Maitre_Absolut's Avatar
882
Rep
886
Posts

Drives: M3 CS, Audi RS6
Join Date: Jun 2018
Location: Montreal

iTrader: (0)

Quote:
Originally Posted by Alfisti View Post
Let's assume the same price lease vs buy, taxes in.

LEASE:
1078*48 = 51,744
Buy out = $29,130*1.13 = 32,917
= $84,661

BUY:
68700*1.13 = 77,631
Interest @ 5 yrs and 2.5% is 1,378
= 79,009

He is more than $5K up and if the car holds value, as the Mach 1 likely will, he could offload it for $50K and spend $29K in 5 years instead of $52K in 3 years.

So to your point, let's say he does the buy out as the car is worth more, so he buys her out, 33K, sells at $50K, for a 17K delta. 52 less 17 is 35K. He has still spent 4K more in 3 years than he would have if he bought it over 5 years. Now i realise 5 vs 3 years is unfair but a) the loan cost would also be less and b) I am not even counting the extra 2 years of leasing he would need to do to get to 5 years of ownership.

It's madness.
Dude your math is all wrong and everyone called you out on it.

The difference in those scenarios is about 2k and thats because the finance rate is lower (2.5 vs 4.5) - thats not always the case.

And you should be paying more for the lease, you get a built in put option to sell at fixed price.

If the car is worth less than buyout, finance option loses. If you got into an accident during the lease that could easily be the case.

Im not advocating one over the other but you clearly don't know how it works. Its only madness because you cant do the math.
__________________
23 Audi RS6
23 BMW X3 30e Msport
18 M3 CS
17 Porsche Macan GTS
14 Audi S4
Appreciate 0
      10-29-2021, 04:10 PM   #36
originalgoods13
Captain
Canada
290
Rep
625
Posts

Drives: Chevy Spark
Join Date: Oct 2012
Location: Calgary, Canada

iTrader: (0)

Throw this into the mix - A Mustang GT Premium with Performance Pack, Exhaust, Mag Ride, is $10K cheaper.
Attached Images
 
Appreciate 0
Post Reply

Bookmarks

Thread Tools Search this Thread
Search this Thread:

Advanced Search

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off



All times are GMT -5. The time now is 12:36 AM.




bmw
Powered by vBulletin® Version 3.8.11
Copyright ©2000 - 2024, vBulletin Solutions Inc.
1Addicts.com, BIMMERPOST.com, E90Post.com, F30Post.com, M3Post.com, ZPost.com, 5Post.com, 6Post.com, 7Post.com, XBimmers.com logo and trademark are properties of BIMMERPOST