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BMW 3-Series (E90 E92) Forum
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Loan vs. Lease
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12-06-2006, 11:05 AM | #1 |
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Loan vs. Lease
What do you guys think about leasing vs. doing a 60month loan? I have never been a big fan of leasing but here is the break down on how long i keep cars.
From 2003-05 i had a Camry and then got rid of it for an Acura TL which i put 4k down on and now i want to get rid of my 2005 Acura for a new bmw. Basically what i am trying to say is i guess i am throwing money away doing this. Is leasing a car for 3yrs for my habit of getting rid of cars every two years a better solution than doing 60months? James |
12-06-2006, 11:51 AM | #2 |
I'd Rather Be Apexing...
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All depends on your situation. If you're changing cars every couple years ... then yes, leasing seems like a better option for you. I fall into the camp of wanting a new car every year (anyone want to take over my lease? I need a 335 .
I've both leased and owned, and I've been lucky cause I have yet to be upside down on a deal yet. I've even sold leased cars to Carmax without any trouble and pocketed a little $$$. All dependent on the car, residuals, etc. But in the end leasing seems like the better option for ME. |
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12-06-2006, 11:57 AM | #3 |
Just as when I found my car, they changed it.
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60mo loan is quite a long time, unless Im really getting something I like and know that I would keep llike a Prosche Carrera GT I'd do a 60mo lease, for regular cars .. I'd do a 24mo lease
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12-07-2006, 10:11 AM | #4 |
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Pay Cash it's Cheaper
Pay cash & be done with it. Best & cheapest way to go.
The only reason to not to pay cash is because you are running it thru a business/lease for tax reasons. If you can not pay cash,,, then you can not afford it. Sorry if that hurts the "finance world" but, the "finance world" is not looking out for you. Pick another car and Pay Cash,,, until you can pay cash for the BMW. Dean
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12-07-2006, 11:25 AM | #5 |
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Dean... you are so mean I need to put you on a leash
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12-07-2006, 11:34 AM | #6 |
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Well
That sounds good but i dont have that type of cash, being a new home buyer in Nothern VA even condos are 450k
I was shocked that I got pre-approved for a loan for a 335i. Now i need to decide what options i want....... |
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01-12-2007, 05:12 PM | #7 |
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this is what i did with my 335i:
I got a three year lease, so after three years in case I don't want the car anymore I will get another one (maybe the new M3). But if I still want it, I will just buy it from BMW Financial through a loan. This way the residual value would have gone down enough to make my monthly payments for the loan. |
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01-13-2007, 02:11 PM | #8 |
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E_92, I am thinking of doing the same with my E93. I know it is cheapest to pay cash but I'd like to keep the cash in an interest bearing account and then decide at the end of the lease if I want to keep the car and buy it or start over again.
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01-13-2007, 02:31 PM | #9 | |
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