BMW 1 Series Coupe Forum / 1 Series Convertible Forum (1M / tii / 135i / 128i / Coupe / Cabrio / Hatchback) (BMW E82 E88 128i 130i 135i)
 





 

Post Reply
 
Thread Tools Search this Thread
      07-29-2010, 06:08 AM   #23
B_2_B_P
Private First Class
B_2_B_P's Avatar
Germany
15
Rep
196
Posts

Drives: 128i Sport /w PDC and ComAcc
Join Date: Jun 2009
Location: Germany

iTrader: (0)

Garage List
2009 128i  [0.00]
Quote:
Originally Posted by BrokenVert View Post
17 when I picked the car up...19 now. I needed a cosigner but i put the downpayment on the car and I'm making most of the payments
Thats cute he said most payments.

Quote:
Originally Posted by MarkR171 View Post
To me, buying a new BMW isn't worth it. You will end up losing more money buying a BMW and selling it after 3 years than if you were to lease for 3 years and return it. If I were to buy a car, it would be a CPO. Leasing is headache free, always in warranty, no worries about resale, etc.
I really don't know where you get your facts......sorry just wanted to do that because it looks so funny.

My 1er sold for 26,000~ stock. 1. BMW's retain value pretty darn well where I'm from (Cali). 2. Leasing is for people that don't know anything about cars. I'm not saying I'm an expert but I love learning how to mod and fix up new toys. 3. Your missing out on great lessons, one of which is learning how to take care of your stuff. 4. How does it feel to know you are already turning corporate?
__________________
Black Badge - Hankook Ventus V12 evo K110 18" - ASA AR1 18" - B&M Short Shifter - aFe Stage 2 CAI Pro 5 R - Gloss Black Kidney Grills - Performance Pedal Kit - CDV delete - Custom Tint - Bastuck Exhaust w/o Silencer - Custom Tune
Appreciate 0
      07-29-2010, 06:50 AM   #24
jkp1187
Unindicted co-conspirator
United_States
49
Rep
1,739
Posts

Drives: to work, mostly.
Join Date: Oct 2008
Location: Pittsburgh, Pennsylvania / Detroit, Michigan

iTrader: (0)

Quote:
Originally Posted by JB135MDCT View Post
Why is leasing so popular?
People can't do math?



(Yes, yes, for some people it does make sense....for the majority, I'd argue, it does not.)
Appreciate 0
      07-29-2010, 07:15 AM   #25
BrokenVert
Resident Kerbalnaut
BrokenVert's Avatar
United_States
341
Rep
10,705
Posts

Drives: Topless Brute/Hybrid Boogaloo
Join Date: Apr 2009
Location: Fahrvergnügen/NY

iTrader: (0)

Quote:
Originally Posted by B_2_B_P View Post
Thats cute he said most payments.
Well that was really condescending. No need to talk down to me I'm a people too.

Quote:
Originally Posted by B_2_B_P View Post
I really don't know where you get your facts......sorry just wanted to do that because it looks so funny.

My 1er sold for 26,000~ stock. 1. BMW's retain value pretty darn well where I'm from (Cali). 2. Leasing is for people that don't know anything about cars. I'm not saying I'm an expert but I love learning how to mod and fix up new toys. 3. Your missing out on great lessons, one of which is learning how to take care of your stuff. 4. How does it feel to know you are already turning corporate?
I leased my car. It was a method to keep the payments down. Then you simply finance the residual at the end of the lease. It takes a bit longer to pay off the car but it's ok. I'm an itelligent guy with a 95% ride to uni. So I think that even though I'm a stupid kid I'll manage
__________________

Appreciate 0
      07-29-2010, 07:17 AM   #26
Judge
First Lieutenant
Judge's Avatar
25
Rep
395
Posts

Drives: 135i
Join Date: Dec 2008
Location: FL

iTrader: (0)

Quote:
Originally Posted by jkp1187 View Post
People can't do math?



(Yes, yes, for some people it does make sense....for the majority, I'd argue, it does not.)
+1.

You can try to rationalize the "benefits" of leasing but at the end of the day you are just spending money on something that isn't yours. No serious financial advisor ever recommends leasing a new car.

Buying new isn't smart either, of course - considering the steep depreciation, but at least you actually own something at the end of the day. I understand why young people think nothing of spending $400 a month forever so long as they are always driving something new - it's just a shame many don't realize the nest egg they could have accumulated with ten years worth of lease payments had it been invested properly.
Appreciate 0
      07-29-2010, 07:48 AM   #27
BSM 335I
Sir Boost-a-Lot
BSM 335I's Avatar
United_States
12
Rep
519
Posts

Drives: E82 135i
Join Date: Dec 2007
Location: So FLA

iTrader: (0)

Garage List
2009 135i  [0.00]
2007 335i  [0.00]
Holy sh*t you fu*kers are making me feel old. I got my first 335i at 21 and then got the 135i at 23. After graduating with a Bachelors in Computer Science I've Been doing computers for over ten years now and work as an IT Manager at a software company along with freelance work on the side (websites, network infrastructure, SEO, etc...). I will say though that my credit started at around 17 and gained 800 score by 21. Honestly if you have the right mindset you can accomplish anything. Although get ready for the stare downs and obnoxious comments from others. It's the joy of having a young face driving a BMW and the comments get old real fast.

Just to give you an insight on what I do here is my personal company on the side that not only brings in revenue but is also beneficial for many people out there in this day and age .

www.buildmypage.com

Let me know if I can be of service to anyone here.
Appreciate 0
      07-29-2010, 08:00 AM   #28
Bdh821
Major
32
Rep
1,251
Posts

Drives: 2011 E90 335i xdrive
Join Date: Feb 2008
Location: MA

iTrader: (3)

Send a message via AIM to Bdh821
17. Bought it outright
Appreciate 0
      07-29-2010, 09:14 AM   #29
Simon_135i
Collecting dust!
Simon_135i's Avatar
48
Rep
2,007
Posts

Drives: 135i
Join Date: Apr 2008
Location: San Diego

iTrader: (8)

Garage List
2008 E82/135i  [0.00]
Send a message via AIM to Simon_135i Send a message via MSN to Simon_135i
25...not quite sure what the OP original intent was with this thread... Is he doing a study? Only asking because what matters how young you are or how old you are...

In hindsight I wish I hadn't but I did and while I love the 1 it just wasn't worth it now looking back...
Appreciate 0
      07-29-2010, 09:28 AM   #30
BSM 335I
Sir Boost-a-Lot
BSM 335I's Avatar
United_States
12
Rep
519
Posts

Drives: E82 135i
Join Date: Dec 2007
Location: So FLA

iTrader: (0)

Garage List
2009 135i  [0.00]
2007 335i  [0.00]
Quote:
Originally Posted by Bdh821 View Post
17. Bought it outright
You bought a $35K+ car outright at 17? Please share your job at 17.
Appreciate 0
      07-29-2010, 09:58 AM   #31
BrokenVert
Resident Kerbalnaut
BrokenVert's Avatar
United_States
341
Rep
10,705
Posts

Drives: Topless Brute/Hybrid Boogaloo
Join Date: Apr 2009
Location: Fahrvergnügen/NY

iTrader: (0)

Quote:
Originally Posted by BSM 335I View Post
You bought a $35K+ car outright at 17? Please share your job at 17.
I made 15k over 3 years for a downpayment as a botanist/welder. Starting when I was 14. But yes what did you do?
__________________

Appreciate 0
      07-29-2010, 11:10 AM   #32
BlackFlash
poseur (for now)
Canada
2
Rep
211
Posts

Drives: a piece-o-crap
Join Date: Apr 2009
Location: Canada

iTrader: (0)

I don't even think you can begin a credit history in Canada when you're <18, because you're not allowed to take on any credit lol

And I can't help but think that a lot of these high paying jobs 14 year olds are getting are through some sort of privileged affiliation (working at the family business, for example). I worked a slew of jobs before I started university but I pissed away most of that money on computers, mountain bikes, and partying with my friends. Certainly wasn't making down payments and paying insurance on $40000 cars! The insurance alone for me as the single driver on "my" car would have been about 4000 a year which is probably about half what I was making at the time.
Appreciate 0
      07-29-2010, 12:38 PM   #33
1013mm
aka 1013MM
1013mm's Avatar
Hong Kong
759
Rep
9,550
Posts

Drives: pokingly flush
Join Date: Jan 2009
Location: Los Angeles / HK

iTrader: (7)

Garage List
2009 135i  [4.13]
Send a message via AIM to 1013mm Send a message via MSN to 1013mm Send a message via Skype™ to 1013mm
easy to build up credit at a young age. at 18 i cosigned a 325 with my mom and thats how i start building my credit. i didnt/wasnt allowed to drive that car though at age 21 i was able to finance my own 135i through bmw. simple
__________________
Appreciate 0
      07-29-2010, 12:41 PM   #34
BSM 335I
Sir Boost-a-Lot
BSM 335I's Avatar
United_States
12
Rep
519
Posts

Drives: E82 135i
Join Date: Dec 2007
Location: So FLA

iTrader: (0)

Garage List
2009 135i  [0.00]
2007 335i  [0.00]
Quote:
Originally Posted by BrokenVert View Post
I made 15k over 3 years for a downpayment as a botanist/welder. Starting when I was 14. But yes what did you do?
That's a pretty nice amount to save, though the question was for Bdh821. Cause I find it hard to believe anyone had saved up over $35k by 17 and if you did, more than likely it was due to all the bday and xmas checks your family and other gave you. Were speaking of actually getting there ourselves at a young age.

Scroll up and read.

Last edited by BSM 335I; 07-29-2010 at 12:47 PM.
Appreciate 0
      07-29-2010, 12:44 PM   #35
Makkasteez
1nt3n5ity
Makkasteez's Avatar
United_States
25
Rep
390
Posts

Drives: 08' 135i
Join Date: Jun 2009
Location: San Francisco, CA

iTrader: (1)

i sold mass quantities of drugs to buy my 1 at 18 yrs old
Appreciate 0
      07-29-2010, 12:47 PM   #36
BSM 335I
Sir Boost-a-Lot
BSM 335I's Avatar
United_States
12
Rep
519
Posts

Drives: E82 135i
Join Date: Dec 2007
Location: So FLA

iTrader: (0)

Garage List
2009 135i  [0.00]
2007 335i  [0.00]
Quote:
Originally Posted by Makkasteez View Post
i sold mass quantities of drugs to buy my 1 at 18 yrs old
or this...
Appreciate 0
      07-29-2010, 12:52 PM   #37
MarkR171
Lieutenant Colonel
MarkR171's Avatar
51
Rep
1,531
Posts

Drives: SLK55 AMG
Join Date: Dec 2009
Location: Honolulu, HI

iTrader: (0)

Garage List
Quote:
Originally Posted by B_2_B_P View Post
I really don't know where you get your facts......sorry just wanted to do that because it looks so funny.
I knew someone would bring up the "leasing is stupid" argument. Always happens. Under the right circumstances, it works and can be more beneficial. There's nothing wrong with it.

"Spending money on something that isn't yours" is a worthless argument. Making payments or paying cash to buy/finance a car is essentially the same thing. Sure, the car is "yours" while you own it, but once you sell it, what's the difference? It doesn't matter who "owns" the car, someone who gets a good deal leasing will almost always end up losing less money over 3 years than someone who bought the car new... and all that's with a car that had an average residual/money factor. Cars with better residuals/MFs like the 1 series will save you money money when leasing.

For example, my previous lease (2007 SLK280.) I paid 600/mo for it at no down at 48,990msrp reduced to 46,000. 600x36 = 21,600 in lease payments. If I were to buy the car cash, for example, I would have paid 46,000 cash. After 3 years, the car's KBB Value is roughly 24,000. I remember passing by my local MB Dealer and seeing an identical '07 SLK280 with 25,000 miles selling for 23,899. My car had 35,500 miles at lease return so I would have to sell it for less money. In this example, I wouldn't have spent any more money leasing than paying cash and selling after 3 years.

If I were to finance that same car, factor in interest rates and I would have lost more money than leasing.

Now you really want to talk about being financially smart, don't buy a new car.

Quote:
My 1er sold for 26,000~ stock. 1. BMW's retain value pretty darn well where I'm from (Cali). 2. Leasing is for people that don't know anything about cars. I'm not saying I'm an expert but I love learning how to mod and fix up new toys. 3. Your missing out on great lessons, one of which is learning how to take care of your stuff. 4. How does it feel to know you are already turning corporate?
1. Residual value affects the lease deal too. The better the resale, the lower the payments. Often in leases, manufactures make up a higher residual to offer a lower payment as incentive. Since residual is determined at the start of a lease, you're essentially locked into a certain value and are not gambling with how the car will hold it's value after 3 years. The 1 series has one of the highest residual values of any lease deal I've seen at 64% after 3 years making it a very good car to lease.

2. You can "mod and fix up" a leased car. My SLK had suspension work, wheels, tires, mods4cars roof module, etc. Just remove it and sell it at the end of the lease just like you would on a car that you own. My brother's previous leased car had headers, exhaust, intake, suspension, wheels, race seats, carbon lip, etc, etc. No problems with lease return after selling his parts. With his Z4 M Coupe, he returned the car with H&R Coil overs on it, they re-installed the stock suspension at the dealership and they didn't even charge him for it.

3. Taking care of the car yourself has nothing to do with whether you lease or buy. You can do that either way. Most people who buy or finance would still let the dealership work on the car. Just because someone leases, doesn't mean they don't take care or work on their own car.

4. It feels good to know what I'm doing.
__________________
2007 SLK55 AMG - Black on Gray/Black - AMG 030 Performance Package

2011 135i - Traded
///M-Sport - Dual Clutch - Harman Kardon - Bluetooth - iPod - Shadowline Kidney Grill - 225/255 Star Specs - Hotchkis Front Sway

Last edited by MarkR171; 07-29-2010 at 01:22 PM.
Appreciate 0
      07-29-2010, 01:05 PM   #38
radiantm3
Apex Everything!
radiantm3's Avatar
United_States
716
Rep
4,379
Posts

Drives: 2007 Honda S2000, 2017 GT350
Join Date: Sep 2008
Location: Cedar Park, TX

iTrader: (6)

Garage List
2011 E92 M3  [4.67]
2014 BMW i3  [5.00]
Those of you right out of college either have pretty well paying jobs or don't pay rent. :P

Then there's insurance. Must be high for for someone under 25 to drive a 300hp rwd car.

When I was out of college, I was only making around 36-40k per year and with rent, I couldn't afford a car that was more than around 25-30k without really stretching it. But I never liked living in a dump so rent on 1 bedrooms were anywhere from 1300-1600 where I lived. My first car out of college was a 2000 Celica GT-S (bought new). I really wanted the S2000, but there was no way I could afford it. And leasing was not an option for me as I had a long commute (and loved to drive).

I'm not hating though. I know 15-16 year olds these days getting great jobs in the programming/design fields and doing extremely well at a young age. Wish I was able to have such an early start.
__________________
2011 E92 M3(Sold). 2007 Honda S2000 (Track Car). 2016 Cayman GT4 (Sold). 2017 Shelby GT350 (AKA Crowd Killer).

My pet project: https://stickershift.com
Appreciate 0
      07-29-2010, 01:15 PM   #39
MarkR171
Lieutenant Colonel
MarkR171's Avatar
51
Rep
1,531
Posts

Drives: SLK55 AMG
Join Date: Dec 2009
Location: Honolulu, HI

iTrader: (0)

Garage List
Insurance isn't bad, unless you have tickets. I know a guy who's 23 and paying almost 2,000 a year in insurance because of speeding tickets.
__________________
2007 SLK55 AMG - Black on Gray/Black - AMG 030 Performance Package

2011 135i - Traded
///M-Sport - Dual Clutch - Harman Kardon - Bluetooth - iPod - Shadowline Kidney Grill - 225/255 Star Specs - Hotchkis Front Sway
Appreciate 0
      07-29-2010, 02:02 PM   #40
1013mm
aka 1013MM
1013mm's Avatar
Hong Kong
759
Rep
9,550
Posts

Drives: pokingly flush
Join Date: Jan 2009
Location: Los Angeles / HK

iTrader: (7)

Garage List
2009 135i  [4.13]
Send a message via AIM to 1013mm Send a message via MSN to 1013mm Send a message via Skype™ to 1013mm
Quote:
Originally Posted by radiantm3 View Post
Those of you right out of college either have pretty well paying jobs or don't pay rent. :P

Then there's insurance. Must be high for for someone under 25 to drive a 300hp rwd car.

When I was out of college, I was only making around 36-40k per year and with rent, I couldn't afford a car that was more than around 25-30k without really stretching it. But I never liked living in a dump so rent on 1 bedrooms were anywhere from 1300-1600 where I lived. My first car out of college was a 2000 Celica GT-S (bought new). I really wanted the S2000, but there was no way I could afford it. And leasing was not an option for me as I had a long commute (and loved to drive).

I'm not hating though. I know 15-16 year olds these days getting great jobs in the programming/design fields and doing extremely well at a young age. Wish I was able to have such an early start.
My rent is about 400ish a month 1 room, bills come out to be around 150ish, and the rest is car payment, savings, spending money. Insurance is 600 half a year for me. No tickets.

Single life is good.
__________________
Appreciate 0
      07-29-2010, 02:05 PM   #41
MarkR171
Lieutenant Colonel
MarkR171's Avatar
51
Rep
1,531
Posts

Drives: SLK55 AMG
Join Date: Dec 2009
Location: Honolulu, HI

iTrader: (0)

Garage List
Quote:
Originally Posted by jzhang View Post
My rent is about 400ish a month 1 room, bills come out to be around 150ish, and the rest is car payment, savings, spending money. Insurance is 600 half a year for me. No tickets.

Single life is good.
400 a month wouldn't even get me a studio in Hawaii. Not even a walk in closet.
__________________
2007 SLK55 AMG - Black on Gray/Black - AMG 030 Performance Package

2011 135i - Traded
///M-Sport - Dual Clutch - Harman Kardon - Bluetooth - iPod - Shadowline Kidney Grill - 225/255 Star Specs - Hotchkis Front Sway
Appreciate 0
      07-29-2010, 02:38 PM   #42
HondaGoneRogue
They like my Swag...
HondaGoneRogue's Avatar
144
Rep
3,634
Posts

Drives: 15 GSM 435i GC
Join Date: Aug 2008
Location: South Dakota

iTrader: (4)

Garage List
Quote:
Originally Posted by Bdh821 View Post
17. Bought it outright

Are you Lil' Bow Wow?
__________________

2015 435i Gran Coupe - Current
2008 AW 135i - Sold
Appreciate 0
      07-29-2010, 02:41 PM   #43
BSM 335I
Sir Boost-a-Lot
BSM 335I's Avatar
United_States
12
Rep
519
Posts

Drives: E82 135i
Join Date: Dec 2007
Location: So FLA

iTrader: (0)

Garage List
2009 135i  [0.00]
2007 335i  [0.00]
Quote:
Originally Posted by HondaGoneRogue View Post
Are you Lil' Bow Wow?
lmao! I was thinking the same thing when I read that post. That or lil romeo.
Appreciate 0
      07-29-2010, 02:43 PM   #44
MarkR171
Lieutenant Colonel
MarkR171's Avatar
51
Rep
1,531
Posts

Drives: SLK55 AMG
Join Date: Dec 2009
Location: Honolulu, HI

iTrader: (0)

Garage List
or Justin Beiber?
__________________
2007 SLK55 AMG - Black on Gray/Black - AMG 030 Performance Package

2011 135i - Traded
///M-Sport - Dual Clutch - Harman Kardon - Bluetooth - iPod - Shadowline Kidney Grill - 225/255 Star Specs - Hotchkis Front Sway
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 06:23 PM.




1addicts
Powered by vBulletin® Version 3.7.0
Copyright ©2000 - 2019, Jelsoft Enterprises Ltd.
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