Bought, Leased or Financed?

[tlp]

I'm curious about the acquistion paths that most of the people have taken here. Please specify in the poll whether you Bought, Leased or Financed your current M3.

[ES_TRADER]

plan on spreading the cost over the next 20 years, as ive done with all my cars...we have a garage full of 10+ beaters with the oldest being a 1984 toyota..M is the newest addition to the family

[IFX]

bought my e46m cash last year.

Waiting ever so patiently to do the same with the e9xM, within the next 3 months.

[Bimerman_74]

I financed my E46 last fall. So I guess the bank owes it for the next 5 years

[cmk227]

paid in full. Bought my first one and had to sell it because i over leverage. Never again! Saved and paid this one in full

I have done that ever since for ever car i have owned.

[ES_TRADER]

Originally Posted by GhostRideTheWhip

65% of BMW's are leased.

most of the CAs i spoke to and asked this question they gave me 8 out of 10 are leased

[kaykay]

Lease all day long.

Every 2-3 years, new car. What could be better (well, maybe the tax write offs)

[Prince_of_Persia]

saved and paid in full .

[FStop7]

financed 0.9%, if BMW wants to offer me near interest free money then who am i to refuse?

[Prince_of_Persia]

Originally Posted by FStop7

financed 0.9%, if BMW wants to offer me near interest free money then who am i to refuse?

That's a really good rate, we don't get anything like that in Canada. I am wondering if u can get discount as well when u get such a good rate? Because I got 10% off from what they were asking for because I paid cash.

[mkoesel]

Originally Posted by FStop7

financed 0.9%, if BMW wants to offer me near interest free money then who am i to refuse?

+1

Paying in cash makes no sense when rates are this low.

I also did the "select" option so I am only paying on about 75% of the sale while I put the difference into (solid, growth) stocks to pay off the balance later while making money on it.

Originally Posted by Prince_of_Persia

That's a really good rate, we don't get anything like that in Canada. I am wondering if u can get discount as well when u get such a good rate? Because I got 10% off from what they were asking for because I paid cash.

Yes, both low rate and near invoice pricing. Others have even gotten a low rate and at or below invoice pricing.

[PKL]

Originally Posted by FStop7

financed 0.9%, if BMW wants to offer me near interest free money then who am i to refuse?

+100 to this guy. I am BUYING my car, but I am also financing it... because it seems crazy to leave the .9% offer sitting on the table.

So I don't really think financing and buying should be a separate choice.

I could afford to pay for my car in cash but why would I spend all that money at once, when my money is definitely earning more than .9% in it's various investments???

Just a little common sense here. And not everyone is an accountant.

[Gkap]

Financed.

[Erhan]

Originally Posted by mkoesel

+1

Paying in cash makes no sense when rates are this low.

I also did the "select" option so I am only paying on about 75% of the sale while I put the difference into (solid, growth) stocks to pay off the balance later while making money on it.

I wanted to the BMW Select too, but my CA said BMW Financial does not allow this in WA. That select thing combined with .9% apr is a steal.

[double eagle]

'06 Vette plus cash.

[tlp]

I was going to purchase outright but with .9% financing and the $1500 holiday incentive it was a no brainer to finance part of it just to lock in the $1500. I can pay it down completely after 3 payments if I want without forfeiting the incentive rebate.

[inter1032]

plan to pay cash in a few months but ive been saving hardcore for 2 years

[persian54]

I like reading you guys who understand that a low rate is a good thing...

that paying cash would be financially ignorant when such great rates (esp when combined to BMW Select) are available.

Put it in a nice high-yielding dividend stock and you're good to go.

Or day trade, or real estate... or anything

60-90k cash at once is... not the best idea unless you have a million or so lying around (and even then its still better to finance)

Though I leased mine

BMW Select would have came out to about $1000/month + the Balloon due at the end.

Lease payment of $811 tax included w/ drive-off couldn't be refused

[Leozap]

I will lease next time around. It's the better way to go.

[James T. Kirk]

Throughout my life, I have financed and I have leased cars.
I know for certain now that I am a "buyer" profile.

I financed my new M3 using BMW Select.

In my experience, leasing only works if:
1) You can conform to the mileage limit.
2) You can conform to the time constraints.
3) You don't mod your car or at least don't mind modding a virtual rental.

If you can do those three things, then a lease deal is for you.
You will pay less out-of-pocket.

I can't do any of those three things. So I buy.

[radiantm3]

Originally Posted by James T. Kirk

Throughout my life, I have financed and I have leased cars.
I know for certain now that I am a "buyer" profile.

I financed my new M3 using BMW Select.

In my experience, leasing only works if:
1) You can conform to the mileage limit.
2) You can conform to the time constraints.
3) You don't mod your car or at least don't mind modding a virtual rental.

If you can do those three things, then a lease deal is for you.
You will pay less out-of-pocket.

I can't do any of those three things. So I buy.

I agree. I mod and put a lot of miles on my cars so I bought (financed) the M3. My wife's 2.5 year old 335i only has 18k miles on it so we will probably lease her car next round.

[dardeca]

Financed!