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BMW 3-Series (E90 E92) Forum
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e90 post poll of the week
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View Poll Results: Lease or Own | |||
Lease | 20 | 25.00% | |
Own | 60 | 75.00% | |
Voters: 80. You may not vote on this poll |
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04-09-2006, 05:53 AM | #3 |
Second Lieutenant
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Drives: E90 330i SE
Join Date: Feb 2006
Location: United Kingdom
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I use the BMW select scheme through the dealer - a bit like leasing. I take it they have this scheme worldwide?
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04-09-2006, 07:12 AM | #4 | |
Second Lieutenant
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Drives: ordered blk s 330 sp, pr, cold
Join Date: Feb 2006
Location: pittsburgh, pa (steeler country)
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04-09-2006, 08:25 AM | #5 | |
Second Lieutenant
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Now I don't mind the commute 330i Sparkling Graphite | Terra | Walnut | Steptronic | Sport | Premium | Navigation | Comfort Access | Cold Weather Pkg |
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04-09-2006, 08:38 AM | #6 |
Major
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Own...
Assuming you take good care of it, BMW's hold their value so well that you're bound to be able to sell it for more than what the dealer would have quoted you for a residual value on a lease. So, assuming you can afford it, I think that buying is actually the cheaper way to go. To get my 330i, I'm selling my 2002 Acura RSX Type-S. Paid $31,000 (canadian) for it, selling it 4 years later for $22,900. so I paid $8,100 to drive it for 4 years (42,500 km's). A lease residual value over 4 years would have been $16,000 or so, so I would have paid $15,000 to drive it for the same four year period if I had leased it. Again, this will only work if you have a car that holds it's value well, you take good care of it, and you can afford the higher monthly payments associated with buying. The fact that I'm a low mileage driver helps too!
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Paul
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04-09-2006, 09:01 AM | #7 |
Colonel
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I selected "Lease" but it isn't a lease, and I don't own it either. Work buys the car, I pay money every year from my pre-tax salary, they pay all running costs, maintenance and insurance, and at the end I buy it if I want for "Red Book wholesale" value, otherwise I walk away and leave the car with them... But, I have exclusive use of the vehicle, and the whole deal is cheaper than leasing... but then again my company do things differently.
The deal saves me $15,000 in tax each year, so I am a happy boy, would rather drive a BMW than give money to the tax office. My personal opinion: I guess how people finance their cars really depends on their personal circumstances and financial goals. I don't think there is any right or wrong answer here. Tax incentives in Australia make leasing for company cars more attractive. In any instance, leasing reduces the cash flow commitments (over other purchase methods), and with the equity market and professionally managed market-linked managed funds doing 20%pa the past 2+ years, this opportunity cost adds to the value of leasing. So even if I had the money to buy the car outright sitting in the bank, I think there are better ways to use that cash right now, than sinking it into a car... My professional opinion: Working in the Funds Management industry, I can only urge people to get professional advice that relates to their own personal circumstances before making any financial decision like this, especially if you are unsure about how to structure financing. Making one based on the advice of this forum would be folly.
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'05 E90 325i | '06 E90 325i | '08 E90 325i LCI | '13 F30 328i M-Sport | '14 F10 535d M-Sport
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