Do most 1er car people lease or purchase?

[warmtoes]

I can certainly afford to buy or lease, I just choose to use my cashflow for something else. And, in 3 years, I'll get something different.

To each their own.

[drand]

Lease. Even with the lower residual and high MF, and not having my own business so no write offs it is still chepaer than buying.

I think that the main thing that makes it cheaper for me is that I hate seelling my own car, therefore I must assume that I would get trade-in value at the end of three years-if I sold it private party it makes more sense to buy but the difference just isn't worth it for me so leasing is the 'cheaper' option.

[vivid]

I'm purchasing

[Jewpac]

Originally Posted by TagMan

Can't afford? Not exactly.
What you mean is can't afford to purchase. The lease is a mechanism to make expensive cars affordable to those that otherwise couldn't afford to purchase them. (In addition to a good mechanism for those that can write-off the vehicle's use.)

Again, I don't lease, and we both agree that there is a financial "loss" in leasing, but the cash flow makes it work for MANY folks that otherwise could not acquire a high-end vehicle. Without leasing, the high-end market would seriously suffer... and we wouldn't want that to happen to BMW or others.

Can't afford to purchase, can't afford, same difference. The way I see it, if you can't afford to purchase it, you can't afford it.

[jwjusaf]

I could afford to buy it... I just didn't want to buy it. I don't keep cars for more than 3 years. I went through a period where I would get a new car every year (bought) and I threw away a lot more money doing that than I will with leasing this vehicle and being free and clear from it. If I grow insanely attached I can buy it for 25K, or I could do what I will most likely do:

Get the new BMW that came out that is better than the 135, or at that point the new, more powerful 135.

[crzy4135i]

Originally Posted by thecatyacked

Are most people who have these new cars buying or leasing? It seems like a no brainer to lease and get a new one after the lease (and warranty) expires. Then you have no worries about costly repairs when you are paying. But something never goes away. The lease payment. After painstakingly selecting options and color for your car are there any thoughts about paying for and keeping these fine cars? Just curious............. party on!

I'm putting $10k + whatever my S4 sell for ($15k??) down on the 135i so my loan payment should be less than $400/month. The lease payments are too high. Of course, if I could lease it for ~$300/month I'd jump on that.

[malves85]

I am buying mine. My current car is leased. I just dont like the idea of paying some odd a month then giving the car back after 3 years. You cant do anything to the car and you always worry about scratching it or getting it dirty because when you turn it in they will get u for every little thing.
I want to be able to say I own this beautiful car. Tint the windows, throw on some modds and not worry about returning it or having to undue everything after a few years.

[ScottyGams]

I purchased my last car, and got sick of it after three years. I lost so much money selling, that I will never BUY again. I want a new car every three years. Unless its an M3, which has HORRIBLE lease residuals (plus, who wouldn't want to own one), I will lease for the forseeable future.

I can make more money by having my money work for me in a Mutual Fund. Investing in a car, which is a depreciable asset is dumb. I will splurge on my cars, and go one class higher than i would be able to in a purchase. SWEET!

Different solutions for different people. I was waiting for the lease bashing to come to 1addicts...

[JTdrivin1]

Originally Posted by malves85

You cant do anything to the car and you always worry about scratching it or getting it dirty because when you turn it in they will get u for every little thing.
I want to be able to say I own this beautiful car. Tint the windows, throw on some modds and not worry about returning it or having to undue everything after a few years.

I tinted my X5, it has chips all over the front bumper and hood from freeway driving, a chip in the windschield, and no tread left in the tires. 3 year lease is up first week in May and I didn't get dinged for anything. The last car I owned I obsessed about every chip in the paint, much less stress to lease.

[ManMachine]

It's all a personal choice. It may or may not be a good choice for a particular person's situation/finances, but that's a different story. Some people like to own a house and drive used cars, some people like to rent in the city and drive new cars, it's all fine, as long as one does all these responsibly.

[E82tt6]

I was planning on leasing, as for me it made sense to "Rent" the car for 3 years, given I generally turn them over after that. However, when the lease rates came out, I decided it was a much better deal for me to just buy it up front, instead of leasing.

You certainly can be finacially responsible and lease, I just think the problem is that many people over-extend themselves a bit with a lease payment.

With a given pay check I try to:

25-30% savings
35-40% discressionary
30-40% bills

I would put a lease under the "discressionary spending" category, rather than the "bills" category. However, I know a lot of people that end up spending 40-50% of their money on their car payment alone, which isn't a good move. It doesn't leave you with much money for anything else.

[buckwheat986]

This topic, with probable "manual vs auto" and "AWD vs snow tires" is the most debated topic in many forums.


I'm in the buy category....lIMO eases are popularized by car companies because they make more money with them.

I like the idea of having more freedom with my cars.

[buckwheat986]

Originally Posted by romka7

Its funny that you say that, since I am leasing I will not pay for the extra oil changes or any "extra" maintenance. When I return my car it will probably become a CPO, feel sort of bad for that person.

And the buyer of your car is thinking ...I feel bad for the guy who took the depreciation hit on this fine car....

As long as the buyer does some homework, PPI, service records, CPO, etc. I find the risk is minimal.

[e90_m3]

bought mine. It all depends on whether you want to drive a different car in year 4. If you think you will keep it for 4+ years, should buy now.

[curtdragon]

I'm buying. leasing for me just doesnt make any sense. Its kinda like money down the tube. At least if you buy and make payments and decide to sell early you still will have some cash towards your next purchase

[Garris]

Originally Posted by JTdrivin1

i've run the numbers, and it really doesn't make sense to buy if you are going to trade it in/sell it after a couple of years.

This is exactly what I want to do... Can you flesh out this statement with some examples of your numbers?

Also, what about the LEASE ASSUMPTION option? Has anyone here done that? That would seem to be a nice way to go. Someone else paid the downpayment, you assume them (often with a financial incentive) and then are able to drive a new car every 1-2 years.

- Garis

[kbimmer135i]

bought mine. can't get through the lease concept. i want to own my car and plan to keep it forever if possible. i am attached to my cars...

if u don't care for the car, lease it. if u're a car lover and know that u'll love it forever, then buy it.

and the feeling of OWNING it feels GREAT!!

[Robert]

Bought. I like to own my cars and the BMW rates weren't good enough to lure me out.

[ILUSV]

Originally Posted by JTdrivin1

i've run the numbers, and it really doesn't make sense to buy if you are going to trade it in/sell it after a couple of years.

i don't want to mod it, and get tired of my cars in 2-3 years, so the 2 year lease for the 1 was perfect for me.

can you post the numbers? or give us a quick and dirty run down.
to be honest I am thinking about leasing for the first time..
The reason I am thinking about leasing is that I can't see myself driving the 1 for more than 2 years

thanks

[essexcounty]

Bought mine also. I'll pay it off in 3 years and then enjoy no car payments until I get something else (which tends to be 2 years after that).

I just sold my 2003 Corolla privately and got $8,700 for a 5yr old car that cost me $16k.

[bmrgrl]

Originally Posted by E82TT6

You certainly can be financially responsible and lease, I just think the problem is that many people over-extend themselves a bit with a lease payment.

With a given pay check I try to:

25-30% savings
35-40% discressionary
30-40% bills

I do something similar:

50% bills (rent, utilities, food)
25% discretionary (car, eating out, entertainment & shopping)
25% savings

I get attached to my cars so it's a no brainer that I should not lease, but I also ran the numbers and I came up with a $5000 benefit over the first three years in favor of buying. This takes into account a negotiated price, a good loan rate and selling the car privately if I decided to swap cars. If you don't want to be bothered with negotiating or selling yourself, then there may be no difference in the first three years.

[Esmallstii]

I was all set to purchase it,.....but now
I will be leasing due to the fact that I own my business, and my accountant told me I can write off 80% of the lease, insurance, and fuel costs for the car without raising any eyebrows. I asked him again to make sure of this, and he confirmed it.

So a leasing I will go!