[aznyeast]

Just want to find out it is safe to high rev the car

[KL2DC]

I don't think the car records random instances of spirited driving as long as they are within safe operating range. The car only records fault codes.

Would recommend some degree of breaking-in though...the benefits of which you'd enjoy within your lease period....

[RPM90]

Originally Posted by aznyeast

Hey, this might sounds like im retarded but I just want to ask to make sure. I am currently leasing my 330i and I love it. I would like to know since it is a lease car, can I drive it however I want or is there someway they will find out? I love shifiting it at 7000rpm

Other than modding, leasing is identical to buying.
You own the car and all associated responsibilities and rights.
You buy and pay for the insurance. You have to bring it in to get serviced and even pay for the service if necessary.
You can use your car as you see fit in the manner you see fit, within the same laws that govern all vehicles on the road.
If you want to drive around at redline in 2nd gear all day long, it is your choice, not that you would do that, but the only thing stopping a leaser from doing that is the shear stupidity of it. However, you could if you wanted.

Redline shifting is perfectly acceptable. There is a reason why there is no redline until then, it means the engine is designed to be run to that point if the driver wants or needs it to.

If you purchase your car with cash, then it is outright your vehicle and you truly "own" it. I you purchase your car with a loan, you still do not "own" it until you pay off that loan and finally get the title in your possession in your name only.
Leasing has been said to be like "renting", but that is not true.
It is actually more like a shorter term ownership.
The biggest difference between a lease and loan purchase is that a lease does have restrictions on modifications in that the leasing company wants everything returned back to stock when the vehicle is given back.

That was the longer answer. The short answer is drive as you please, it is your car.

[ic]

Originally Posted by RPM90

If you purchase your car with cash, then it is outright your vehicle and you truly "own" it. I you purchase your car with a loan, you still do not "own" it until you pay off that loan and finally get the title in your possession in your name only.
Leasing has been said to be like "renting", but that is not true.
It is actually more like a shorter term ownership.
The biggest difference between a lease and loan purchase is that a lease does have restrictions on modifications in that the leasing company wants everything returned back to stock when the vehicle is given back.

You can "think" in this way, but Leasing IS renting and financing is owning with loan. Looks at the vechicle title to see who own the car. Financing can do whatever the owner (by cash) can do (trade-in/sell it before the term, mod, etc...). Think of rental property and buying a house with mortgage and you will know what I mean.
NOTE: I'm not talking about which way is better (it will be another 10 pages debut).

To answer the OP question, it won't matter even if the dealer knows or you told them you drive the car at 7000rpm all the time.

[RPM90]

Originally Posted by ic

You can "think" in this way, but Leasing IS renting and financing is owning with loan. Looks at the vechicle title to see who own the car. Financing can do whatever the owner (by cash) can do (trade-in/sell it before the term, mod, etc...). Think of rental property and buying a house with mortgage and you will know what I mean.
NOTE: I'm not talking about which way is better (it will be another 10 pages debut).

To answer the OP question, it won't matter even if the dealer knows or you told them you drive the car at 7000rpm all the time.

Actually, it is your thinking that puts "leasing" into the renting realm.
Yes, take a look at the title. When you do a loan "purchase" you do NOT own the vehicle. The bank/lender does. Miss a few payments and the question of "ownership" will become quite clear.

Home purchase and car purchase are not the same type of investment, nor are they governed by the same laws.
If you want to "rent" a vehicle you can from a number of vendors like Hertz, National, Enterprise, etc.. They can even rent you a car for the long term.
There is a distinct difference between renting and leasing and that is a question of ownership, rights, and responsibilities.

When you rent, the rental company "owns" the car and dictates it's use. These days they are even starting to monitor how a renter drives the car. The renting company insures the vehicle not the renter. The rental company registers and pays for the licensing and registration, not the renter. You do NOT have the right to decide to buy the car you rent (unless they are selling them), you can not sell the car, and with some rental companies you are even restricted to where you can drive them such as out of state or not.

Leasing is quite different in that rights, responsibilities, and ownership is vastly different. The lessee pays for the registration and licensing, you have to purchase and pay for the insurance on your car, you can drive it where ever and when ever you want, your use is only as restricted as any other "owned" car on the road.
You can buy the car you are leasing at any time, you can sell the car you are leasing, you can lease it to someone else if you want.

Again, the main difference between loan and lease "ownership" is one of modifications. Most loans do not restrict modifications, however, some loans do. Leases want the car back as it was delivered. Other than that you can use the lease car just as you would a loan purchase car. The only person who can claim real and total ownership is the person who has paid, entirely, the cost of the vehicle and the title is now in their name.

Thus, it's not a matter of "thinking" the lease car belongs to you.
It is a matter of fact that it belongs to you in nearly every way, except on mods and rules on how to go about selling your leased car.
I don't know if Canada is different, it may be. However, in the US it works this way pretty much everywhere, but I won't make an absolute statement as states can vary.

T

[aznyeast]

Thank you for your answer. Make me feel much better now. I used to own a 2004 325i and rarely redline it because it was my car. Every single time I get to around 6000 RPM, i felt like I am hurting myself. But with this lease car, I can drive the car to the fullest without having to worry about anything. I think that feeling is priceless

[KL2DC]

In any case, our BMWs are designed to run...it can take it, that's what we paid good money for...to drive, preferrably enthusiastically So enjoy the car, my friend...

[jflecha]

RPM90,

I think thats the best thing I've seen written on the whole leasing is renting rant.

Unfortunatley there is a stigma attached to leasing that will never go away, most buyers would never consider leasing ever, at least thats what I've observed.

[BMW F22]

I would have to agree with RPM. I did a speech on leasing vs buying and cleared up a lot of confusion for many people. They always think that if you finance a car, you own it. Like RPM said, it's the bank/lender that does. Leasing has its benefits and disadvantages. I would only lease if you like driving a new car every few years (and that you dont drive a lot). If you wanna keep the car for 6-10 years, buying is the best choice. Im actually considering leasing my next car.

[ic]

Originally Posted by RPM90

Actually, it is your thinking that puts "leasing" into the renting realm.
Yes, take a look at the title. When you do a loan "purchase" you do NOT own the vehicle. The bank/lender does. Miss a few payments and the question of "ownership" will become quite clear.

I check with my friend's financing in Canada, he is the owner. NOT the bank/lender.

Originally Posted by RPM90

Home purchase and car purchase are not the same type of investment, nor are they governed by the same laws.

That's why I said "think"

Originally Posted by RPM90

If you want to "rent" a vehicle you can from a number of vendors like Hertz, National, Enterprise, etc.. They can even rent you a car for the long term.
There is a distinct difference between renting and leasing and that is a question of ownership, rights, and responsibilities.

When you rent, the rental company "owns" the car and dictates it's use. These days they are even starting to monitor how a renter drives the car. The renting company insures the vehicle not the renter. The rental company registers and pays for the licensing and registration, not the renter. You do NOT have the right to decide to buy the car you rent (unless they are selling them), you can not sell the car, and with some rental companies you are even restricted to where you can drive them such as out of state or not.

The rental company "usually" "lease" the vechicle and "sub-rent" it. Technically, you can call the "rent" from a rental company is "sub-rent" in that sense.

Originally Posted by RPM90

Leasing is quite different in that rights, responsibilities, and ownership is vastly different. The lessee pays for the registration and licensing, you have to purchase and pay for the insurance on your car, you can drive it where ever and when ever you want, your use is only as restricted as any other "owned" car on the road.
You can buy the car you are leasing at any time, you can sell the car you are leasing, you can lease it to someone else if you want.

Leasing is usually refering to a longer term of rent. Because of the longer term, it involves higher risk and uncertianly for the original owner (ie the bank). The lenders take out the risk from them and certainly lower cost for "leaser" compare to "sub-rent". Example of risk, you're paying the below average driver insurance daily rate if you "sub-rent".

Originally Posted by RPM90

I don't know if Canada is different, it may be. However, in the US it works this way pretty much everywhere, but I won't make an absolute statement as states can vary.

Yes, I checked with my friend in US, the leasing in US is different than in Canada in term of ownership title.

[ic]

Jflecha and BMWE90, the fact that RPM90's post is good in the sense that we're arguing the actual meaning (ie ownership) of leasing and financing rather than the pos and cons. Although I don't agree with his post with another response, his post is good.

[MoreCowbell]

Look, i'm guilty of it also. I'll admit it. I have a 24 month lease on my E90. For cars i've "bought" in the past, i've broken then in completely. This car, however, i've driven a little more agressively knowing that in 2 years, it's not mine anymore.

That said, I have respect. I don't run it at the redline, I don't floor it every thrity seconds. I detail and wax the car constantly, just like I would if I owned it.

[RPM90]

Originally Posted by ic

I check with my friend's financing in Canada, he is the owner. NOT the bank/lender.

Yes, I checked with my friend in US, the leasing in US is different than in Canada in term of ownership title.

I was responding to your absolute claim that "leasing is renting".
I've given you some reasonable differences on the issue.
It is up to you to decide if you orginal claim is the same.
If Canada treats loan purchase and title differently, then you shoud have said, "in Canada". I get a feeling you weren't trying to be informative with your "you can think..." statement.

BTW, when on rents a car he/she is not "re-renting" or "re-leasing".
Many rental companies actualy do buy their vehicles and then they sell them as used. It happens all the time here in the US.
Again, I don't know you exact situation in Canada, but I suspect it's similar. It doesn't make sense for big rental companies to lease their cars so that they can rent them. In fact, the poor residuals that would result from such vehicles, as they are prone to much abuse, would be cost prohibitive. Also, consider that rental companies buy fleets of rental cars and thus pay MUCH less per car than we 1 car at a time citizens do.

T

[David328M-Sport]

Here the company that leases the car owns the car untill or unless it is paid for when the due date arrives.

The driver (me in this case) pays for EVERYTHING!!!!

[bos]

On the semantic issue of rent vs lease, the dictionary says:

Rent:
1 to give the possession and use of (something) in return for periodic payment <we rented the apartment to a college student for $500 a month>
Synonyms - lease
2 to take or get the temporary use of (something) for a set sum <will need to rent a car while we're in Europe> -- see HIRE 1

Lease:
1 to give the possession and use of (something) in return for periodic payment <the landlord was willing to lease the apartment for less than we had expected> -- see RENT 1
2 to take or get the temporary use of (something) for a set sum <I couldn't afford to buy a car outright, so I decided to lease one instead>

So yeah, leasing is renting. Yes, it is totally different than the short-term arrangement made with a rental company, but it is still a form of renting the vehicle. The ownership is retained by lessor, who claims the vehicle at the end of the lease. Often the lease agreement provides an option for the lessee to purchase the vehicle at the end of the lease.

In the case of traditional financing, the ownership is transferred to the purchaser. The car is collateral for the loan, the financeer able to take possession in the case of default.

In response to the original poster, the lessor can hold you responsible for certain damages. However, engine problems that result from reasonable non-negligent use are not one of them.

[ic]

Originally Posted by RPM90

If Canada treats loan purchase and title differently, then you shoud have said, "in Canada". I get a feeling you weren't trying to be informative with your "you can think..." statement.

I just know the ownership is different in Canada and US after your post and double check with my friend in US.

Originally Posted by RPM90

BTW, when on rents a car he/she is not "re-renting" or "re-leasing".
Many rental companies actualy do buy their vehicles and then they sell them as used. It happens all the time here in the US.
Again, I don't know you exact situation in Canada, but I suspect it's similar. It doesn't make sense for big rental companies to lease their cars so that they can rent them. In fact, the poor residuals that would result from such vehicles, as they are prone to much abuse, would be cost prohibitive. Also, consider that rental companies buy fleets of rental cars and thus pay MUCH less per car than we 1 car at a time citizens do.

The last time I rented a car (few years back), I checked the copy of ownership (which should be put into the car in Canada). It is own by a leasing company.

In term of which ways is better for the rental company, it would be "similar" (nothing are exactly the same) arguements between leasing vs financing for business use. The low residuals value will be same as low resale value. Yes, they can pay MUCH less per car and there is no different for leasing.

[F32Fleet]

Originally Posted by aznyeast

I drive it however I want or is there someway they will find out? I love shifiting it at 7000rpm

The computer will keep track of the highest rpm obtained and for how long. This is one way BMW determines whether or not you blew an engine due to overrev.

[RPM90]

Originally Posted by bos

On the semantic issue of rent vs lease, the dictionary says:



So yeah, leasing is renting. Yes, it is totally different than the short-term arrangement made with a rental company, but it is still a form of renting the vehicle. The ownership is retained by lessor, who claims the vehicle at the end of the lease. Often the lease agreement provides an option for the lessee to purchase the vehicle at the end of the lease.

In the case of traditional financing, the ownership is transferred to the purchaser. The car is collateral for the loan, the financeer able to take possession in the case of default.

In response to the original poster, the lessor can hold you responsible for certain damages. However, engine problems that result from reasonable non-negligent use are not one of them.

Your making some arguments that aren't true.
Ownership on a loan purchase is NOT transferred to the purchaser.
You do NOT have the title until the purchaser makes good on the loan agreement. The reason the bank is able to take possession of the vehicle, and NOT be stopped by police as being a theft, is because the vehicle is owned by and belongs to the entity that gave you the loan. If you don't make the payment you will quickly find out who REALLY OWNS the car.

Definitions can be quite useful, if they apply to what is being discussed and be absolute. There are many ways to "own" or acquire goods, and thus the definitions are broad adn not specific enough for everything. Car leasing is not the same as home rental is not the same as "lease to own", etc..
Loan purchase and lease and rental are all forms of acquiring something that does not belong to you.
Final ownership is the difference in these different methods of acquiring that which you did not buy outright.
When you rent a house you are either renting or leasing and the terms can be used interchangably as they are pretty much the same thing.

Regarding the question about car leasing vs. renting, there are many big differences between leasing a car and renting a car.
The differences are very obvious.
Thus, I shall not "debate" it anymore. If you want to believe that leasing your new BMW or Lexus or Chevy or whatever brand is the SAME as renting a Grand Prix from Enterprise for the weekend, then believe as you please. However, don't get mad at me if I then think your are misinformed and wrong.

And remember kids, opinions are like A-holes, everybody has one.

T

[RPM90]

Originally Posted by ic

I just know the ownership is different in Canada and US after your post and double check with my friend in US.

The last time I rented a car (few years back), I checked the copy of ownership (which should be put into the car in Canada). It is own by a leasing company.

In term of which ways is better for the rental company, it would be "similar" (nothing are exactly the same) arguements between leasing vs financing for business use. The low residuals value will be same as low resale value. Yes, they can pay MUCH less per car and there is no different for leasing.

So, now you are saying there is no difference between leasing and financing?

T

[ic]

Originally Posted by RPM90

So, now you are saying there is no difference between leasing and financing?

Haha. Shouldn't Cash/Financing/Leasing/Rental are different form of contact (eg, restrictions) to suit the finanicing need in that sense?