Did i get "F"ed with the lease?

[Quick1 TO BE]

hi guys, i need help figuring this out.

i got the car and for some reason I HATE IT.. dont get me wrong the car is fantastic in every aspect but the thought of me being screwed with the lease makes me want to run it under a semi..
the car came out to 40,100 after all said and done.(tax tags title registration bank fee etc etc...) i put $8000 down on a 3 year lease 15000miles per year at 519 per month.. the way i calculated it 36X$519= $18,684 + $8000= $26,684. now thats a little steep for a 3 year drive..

what do you guys pay?????? am i really fucked cuz i swear if thats the case im gonna go get that bitch by the hair and smack her face with a vending machine or something lol

i have an option of getting a loan and finance it for 5 years..

any help is highly appreciated

thanks in advance

Ash

[emm3tt]

Originally Posted by Quick1 TO BE

hi guys, i need help figuring this out.

i got the car and for some reason I HATE IT.. dont get me wrong the car is fantastic in every aspect but the thought of me being screwed with the lease makes me want to run it under a semi..
the car came out to 40,100 after all said and done.(tax tags title registration bank fee etc etc...) i put $8000 down on a 3 year lease 15000miles per year at 519 per month.. the way i calculated it 36X$519= $18,684 + $8000= $26,684. now thats a little steep for a 3 year drive..

what do you guys pay?????? am i really fucked cuz i swear if thats the case im gonna go get that bitch by the hair and smack her face with a vending machine or something lol

i have an option of getting a loan and finance it for 5 years..

any help is highly appreciated

thanks in advance

Ash

Putting down 8 grand you may as well finance it.....payment wouldn't be that much more.

[tkbr0wn]

never, ever, ever, never, ever, ever, ever put ANY money down on a lease EVER. If you can change to a purchase, I would do it.

[Quick1 TO BE]

well if i hadnt put any down payment the monthly would have come up to 743 per month

743 - 519 = 224 per month extra.

224 X 36 = 8,064 over three year period. so all im doing pretty much is pre- paying the depreciation..


aghh this whole thing if very confusing..

but im thnkin about changing it to finance atleast i can sell later and get some money back..

Ash

[imported_mega]

leasing is gonna hurt your butt on these 1 series

[warmtoes]

If you're going to put any money into it to get the lease cost down use the multiple security deposit route as it reduces your rate and you get the money back at the end.

Otherwise, do not put anything down on a lease.

[ModlessG]

I did a lease because of the uncertainty of fuel prices and what they may do to car values. I felt the 74% residual on a two year lease was a good deal for me. In fact i am betting on the car not being worth the residual value ($27000). If I like the car at the end and its worth the residual value or more then I will buy it. If its not worth as much as the residual I will turn it in and then repurchase it at a lower price ( I have done this before at as much as $2000 below the residual). My payment with zero down was $566 on a $35500 price . If gas is $8.00 I may even buy something else at that time. I just really felt it was a bad time to own a car the lease was a way to hedge my bet.

[BEAMERBOI]

My 135 came out to about 47000 and my payment for 5 yrs are about 600mth with 18000 down

[imported_mega]

Originally Posted by ModlessG

I did a lease because of the uncertainty of fuel prices and what they may do to car values. I felt the 74% residual on a two year lease was a good deal for me. In fact i am betting on the car not being worth the residual value ($27000). If I like the car at the end and its worth the residual value or more then I will buy it. If its not worth as much as the residual I will turn it in and then repurchase it at a lower price ( I have done this before at as much as $2000 below the residual). My payment with zero down was $566 on a $35500 price . If gas is $8.00 I may even buy something else at that time. I just really felt it was a bad time to own a car the lease was a way to hedge my bet.

you know with zero down on a lease if I could get 600 a month for the car I configured (42k msrp) I think i would do it too

[larryn]

I changed mine to a purchase at the last second for that same reason. BMW Financial Services had a crumby rate to finance the 135i at the time, and my finance guy at the BMW Center set it up so that I got a 3.125% loan via a bank they deal with.

See what they can do for ya.

[Brandon26pdx]

I would have put the $8k down on a 72 month loan anyday of the week. Your payment would have been ~$550ish assuming 6% on a ~$40k car with sales tax. (No sales tax in my state though

Worse case scenario you get tired of the car or the pymt and dump it a year later with no drama.

[EmeraldRx]

I have a vert LOADED 50k sticker. Zero dollars down and I'm paying $705/mo. I did pay tax up front. 36mo lease.

[Omega Man]

Leasing wouldn't work for me on anything other than one of the massive lease car models, like the 3 series BMW or the G35 or the Lexus of equal stature. All automatic and loaded with the luxury stuff. Not a half stripped manual tranny sports cars.

[e36chris]

hey guys, read through this thread and i have my own question..

recently i discovered my parents lease on the benz is up, and they need to lease another car (dads partner is, so he needs to get a new one)..

they are considering throwing the bmw on the buisness, and me paying them the payments.

now my question, is this feasible for me, i want to keep the car, and would i put down 0 down on the lease, or as much as i could to keep the payments down?

kinda lost, thanks fellas