[thinkofone28]

Alrite so obviously ive got bit of a problem. I had a 2011 335 for about 5 months until it started having problems(out of warranty) and was going to cost 1500 for repairs, and 3400 for extended warrNty. I saw a nice 2011 is250 fsport and traded in my car for it, which rolled over some money into the new loan. Now i kinda regret getting the 250 as its v6 as many of u know, is way underpowered (if it was a 4cyl i wouldnt mind, but the fact that its a v6, its quite embArassing)

I went to the lexus dealership the other day and they offered me to take my car in order to get me in the new is350 f sport (white with red leather), and they recommend me leasing it. 0 down, 3(4?) yrs term, 850ish/month. This way i can get rid of all my neg equity that i have stupidly built up?

Now. I dont pay rent, make about 4-5k a month. Is it smart to go for the lease so i dont have to deal with car depreciation and to clear my neg equity? Or am i better off just keeping the is2slow? (Only worry is if i try to sell later i wont be getting nearly as much as my loan due to the roll over)

I feel like ive made a huge mistake in selling my 335... But i was just afraid of the upkeep on it.

AnywY sorr for the long post... If anyone with more car buy/trade/lEase experience please chime in!

Thanks,
Brendon

[ericgl]

What is the terms of your current note? Payment? What is the sticker on the is350?

You have got yourself in a negative equity trap, and every time you change cars you are digging the hole deeper. The dealer and manufacturer make profit, and the state collects taxes.

If you can afford higher payments, pay more on you current loan. Try to get significant equity in your current car before trading in.

[sandjam]

The big question is can you live with the car you have. If you really really don't like it you will never be happy making that car payment every month even if you do pay more per month. 850.00 is a lot, but at the end of the 3 years you won't have anymore equity issues and can turn the car in and get something new. And if you really like the Lexus then sometimes its easier to just take the loss, get the car you really like and don't stress over it. Ericql is right, every time you trade another one in you get in deeper negative equity. The zero down helps for the lease at least. But at turn in time you basically are getting a wash, no equity for another trade in, so you will have to save for a down payment on the next car you will buy.

Cars are a losing game for people like us who love cars. People that don't give a crap about cars and only see them as point A to point B transport are the ones who make out financially in the car market, haha. They buy some piece of crap and drive them for 200,000 miles

[Miller335]

$1500 in repairs and you dont have a mortgage or rent?
That $1500 shouldn't be an issue, plus if you diy it would have been well under $1k and you would also have a sense of pride you get working on your own car.

Stop the bleeding. You got into that lexus cause repairs scare you so I say stay stick it out with the IS slow.

[Bangarang_Rufio]

If you have no rent or mortgage payment and can afford $850/mo then I assume you have money put away. If a bank let you roll over your inequity into the is250 then I assume it wasn't more than 2-3k at the most because banks only finance 110% at the absolute max (w/ A+ credit). All that being said you should've just put a few grand down to get rid of your inequity before buying something. If you bring it back to get the is350 then you will have the chance luckily again. But no seriosly I wish I could afford $850/mo car payment. Be like Trump up in that b*tch lol

[Agentphish]

Keep your Lexus. You've learned your lesson and in a few years you can get something else. Enjoy the car you have, it's a Lexus and is still way nicer than what most people can (maybe ever) afford.

[thinkofone28]

Thanks guys for the input. Its 550/month for 6 yrs for the is. I have been trying so so hard to like the car i got, dont get me wrong its a wonderful car, very luxurious and has all the features i could possibly imagine, but at the end of the day im not happy.

Honestly i dont need the is350. It costs well over 50k after everything, and ive also been looking at the c250 as well (light pkg with the 18in amg wheel) and also am interested in those as it is significantly cheaper than the 350. I would have to agree that if my payments are going to be higher then yes it would suck, but atleast i will be happy.ahehehsjjeh why cant i just like a civic or something and be over with it. So stupid.

[ny325]

Your 2011 335 warranty should expire in 2015. Whatever repairs you had should be covered under BMW 4 year 50,000 mile warranty. This might of solved your concerns.

[markus037]

life is too short to drive boring cars

[thinkofone28]

Originally Posted by ny325

Your 2011 335 warranty should expire in 2015. Whatever repairs you had should be covered under BMW 4 year 50,000 mile warranty. This might of solved your concerns.

Yeah... I was at 55 haha.

[Greatdane84]

Originally Posted by Miller335

$1500 in repairs and you dont have a mortgage or rent?
That $1500 shouldn't be an issue, plus if you diy it would have been well under $1k and you would also have a sense of pride you get working on your own car.

Stop the bleeding. You got into that lexus cause repairs scare you so I say stay stick it out with the IS slow.

Lol yup. $1500 in repairs made you sell the car yet $850/mo payment is ok? If you don't want to get
Your hands dirty I say get a lease and go back to the 335.

[11e90Ride]

Originally Posted by ericgl

What is the terms of your current note? Payment? What is the sticker on the is350?

You have got yourself in a negative equity trap, and every time you change cars you are digging the hole deeper. The dealer and manufacturer make profit, and the state collects taxes.

If you can afford higher payments, pay more on you current loan. Try to get significant equity in your current car before trading in.

^This.

Rolling negative equity into a lease isn't a wise idea in my book. There is no magic. Throw some extra principal on your loan every month until you can sell it outright and walk away with some cash in your pocket.

Keep perspective. The IS is more engaging than, say, a Prius, right? See, things aren't that bad...

[NjPrince]

850/month is a lot....shouldve kept the bimmer. Truth be told these cars are alot of maintenance if you just drive it normally. It only starts to become a nightmare if you beat your car regularly. 4-5k a month salary you could have easily afforded the car.

[thinkofone28]

Alrite guys ive mDe up my mind thanks to the inputs! My payments for the is is 550, for my 335 it was 530, 20 bucks more and for that i got reliability and great resale value of the lexus! Yes i hated the power, and that was it. Coming from sti's evos 335's and going into this was a bit of a change, but in all reality i did make the change for a reason, that being better mpg (altho not by much, but i get 27mpg avg!) toyota reliability, etc. i will just put more into the principle and trade it in for my dream car~ m3~ anyways. Thanks guys! Btw thankfully i got the f sport to make up for the lack in power... Atleast it looks good!

[ericgl]

Smart move.

In the future, may I suggest you avoid 6 year notes? They almost guarantee long periods of negative equity and if your like me, the payments remain past the period your enamored with your car.

[Miller335]

Originally Posted by ericgl

Smart move.

In the future, may I suggest you avoid 6 year notes? They almost guarantee long periods of negative equity and if your like me, the payments remain past the period your enamored with your car.

Another approach:

I ended up buy an 07 E92 335 last year with only 23k miles and put down $6k, the car will always be in the black due to buying it for $25k, the depreciation now being so slow and the $6K I put down.

Plus, due to the miles being so low a 5year/60k mile warranty was only $2k.
Newer cars are for suckers.
Lovin my 335.

[ericgl]

I agree Miller.

Last March I bought a 08 335i with 32K for $25K. My paid off trade gave my an 8K down payment. Last week I traded it in on a loaded E92 (another 2008) with 13,500 miles for $26k. They gave me $20,000 for my car, now with just under 40k. I owed about $9500 so I had a down payment of 10.5.

If one is patient and a bit discerning used is the way to go.

[Miller335]

Originally Posted by ericgl

I agree Miller.

Last March I bought a 08 335i with 32K for $25K. My paid off trade gave my an 8K down payment. Last week I traded it in on a loaded E92 (another 2008) with 13,500 miles for $26k. They gave me $20,000 for my car, now with just under 40k. I owed about $9500 so I had a down payment of 10.5.

If one is patient and a bit discerning used is the way to go.

Low miles, one owner and clean carfax. Almost hard to go wrong esp when you have an open mind about the few issues these cars have.