Mr._Graybeard
Thinks s/he gets paid by the post
- Joined
- Apr 18, 2011
- Messages
- 3,100
I've been a BMW owner for 25 years. IMO the company has lost its way. Get a Lexus.
Hmmmmm. Perhaps because it is a moving target. All Cars are different, interest rates are different from company to company, so are fees etc., so how can one provide the data? I can answer one of them, that is in 30 years of leasing I have NEVER paid a down payment. $0 down, $0 due at signing is the only way to go, and 95% of the time, Registration, Title, and first months payment were all included. Anything else is just moving the payment from one pot to the other and IMHO should not be considered.
But 36 - 39 months is usually the "Sweet Spot", that combined with a 0% Money factor makes it a no brainer. Leasing is good when money is cheap, and money is very cheap now.
Never lease a vehicle beyond the factory warranty period. Most vehicles have 36 months or 36,000 bumper-to-bumper warranties. I would not lease beyond this time frame.
Never lease a vehicle beyond the factory warranty period. Most vehicles have 36 months or 36,000 bumper-to-bumper warranties. I would not lease beyond this time frame.
Ah yes, but my friend, the last car I leased was 39 months and in the lease contract the DEALER guaranteed they would cover warranty items during that extra 3 month period, I got it in writing.
There is an expression "Don't drive a German car that is out of warranty".
Now that I’m retired, I can’t imagine leasing would be a good option. I just don’t drive enough. Take a 10K annual lease. At $300 per month, that would be over $.36 per mile. You’d have to get in under $250 to get under $.30 per mile.
This, 100%. You're essentially in debt to the car and AND the miles. I didn't retire to go back into debt, I retired early because I carried no debt.
Some folks always want an expensive new car and I get that leasing may make sense for them, but to me it's just a point A to B appliance. And that means letting someone else take the depreciation hit.
I purchased a BMW X5 xDrive40i in November! I love it! My wife and I lived well below our means for the first 30 years of marriage. We always paid cash for new cars and drove them 10 years at a minimum.
Now, we are fortunate enough to be able to drive whatever we want....within reason! I'm driving the X5 because I like it....style and driving performance.
I know it's an indulgence but so what. I did finance a small amount since BMW offered a significant discount to finance. I can pay it off at any time without penalty.
If you are in a place where you can splurge with no regrets, you might consider it. It worked well for me.
Say you lease a car for 3 years and they offer to sell you the car at the end of lease.
How does that price plus the total lease cost compare with buying the car at the outset?
Say you lease a car for 3 years and they offer to sell you the car at the end of lease.
How does that price plus the total lease cost compare with buying the car at the outset?
There are a lot of variables. Typically, the leasing company sets the residual value very close to what the vehicle will be worth in three years, but not always. I've done very well with my past three leases, buying my previous one out and likely buying my current lease as well. Or I might sell my vehicle to a dealer or Carvana and keep the excess money.Say you lease a car for 3 years and they offer to sell you the car at the end of lease.
How does that price plus the total lease cost compare with buying the car at the outset?
I've done so many leases over the years, and get so many questions from friends and family that I've written a guide on how to do it, including tips on how to negotiate.
... ...
I've done so many leases over the years, and get so many questions from friends and family that I've written a guide on how to do it, including tips on how to negotiate.
Would you mind sharing?
DH and I will be leasing our next cars. We have previously been buy new and hold until it falls apart, 17-20 years. Recently, we've bought new at year 9. We have decided to lease the SUV every 3 years. Reasons: Convenience, convenience, convenience. Having the latest safety features. No out of warranty repairs to worry about. No smog certification!
We have a 2016 Acura SUV and 2017 Lexus ES350. Love the Acura's bells and whistles and interior layout, however, the local dealer's repair facilities are awful and we won't be buying Acuras. DH loves his Lexus and I also love its ride. However, the interior layout is awful and the blind spot warning is visual only which for me is a dealbreaker. The Acura's is visual as well as audible. We'll keep the Lexus until it or us falls apart and lease new SUV every 3 years. I'm hoping Lexus SUV will meet my needs. We'll also look at BMV, Mercedes and Audi.
I will suggest you should make it available to others here, since it seems leasing is used by many E-R.org members. You can potentially help them save on a new deal.
Hmmmmm. Perhaps because it is a moving target. All Cars are different, interest rates are different from company to company, so are fees etc., so how can one provide the data? I can answer 2 of them, that is in 30 years of leasing I have NEVER paid a down payment. $0 down, $0 due at signing is the only way to go, and 95% of the time, Registration, Title, and first months payment were all included. I usually get 10,000 miles a year as all I really do is drive locally or to the Airport. Anything else is just moving the payment from one pot to the other and IMHO should not be considered.
Doubtful. Credit rating is the metric used to determine interest rate.Without a down payment aren’t you exposing extra dollars to a potentially higher interest rate (money factor)?