or Connect
Styleforum › Forums › Culture › Fine Living, Home, Design & Auto › Am I crazy for wanting to lease a top-of-the-line 3-series out of college?
New Posts  All Forums:Forum Nav:

Am I crazy for wanting to lease a top-of-the-line 3-series out of college? - Page 11

post #151 of 228
Quote:
Originally Posted by Prince View Post
But it is important to take into account that OP cannot buy the car, so he needs to lease. If he has 60k on a shelf, who am I to say that he should not lease.

Hey man...this is AMERICA--we don't need no stinkin $60k to buy a $60k car.
post #152 of 228
Quote:
Originally Posted by otc View Post
Hey man...this is AMERICA--we don't need no stinkin $60k to buy a $60k car.

Hehe, exactly. This attitude is what really strikes me in this thread. I mean, people do crazy shit with money over here, but I've yet to see someone who just gets his first job, leasing a 60K car just for fun drives.
post #153 of 228
Quote:
Originally Posted by eqpablon View Post
2011 M3 Convert's for mid $500
Where 2 kop?!?!
post #154 of 228
Quote:
Originally Posted by HRoi View Post
Where 2 kop?!?!

http://www.bimmerfest.com/forums/sho...d.php?t=499496

The M3 had a phenominal residual for 4 or 5 months. Not certain what the M3 rates are now. The current crazy good lease deals are on the Z4.
post #155 of 228
Still a lot of fail going on. Only GF can know whether he wants the car for the "right" reasons (which I guess in these circumstances is for driving enjoyment) or the "wrong" reasons (which people seem to think includes creating an impression on others). I don't necessarily disagree with these viewpoints, but they are opinions, not absolute statements. There are those who think that people who dress well only do so to create an impression on others and is therefore just as bad as buying a car to impress others.

Setting that aside, GF has already shown us one reason why people lease - his out of warranty A4 is going to cost him a mint to keep on the road. Whether or not the 75% of BMW drivers lease for that reason, or any other, is really irrelevant, the question to ask is whether a given lease is a better economic decision than purchasing outright. If you intend to drive a new BMW for 3 years (which many do), I would assume the rational actor would want to minimize total cost of ownership over that period. If it's leasing, great. If it's buying and re-selling, great. Go with whatever one works. I'm going to go out on a limb and guess that with BMW's subsidized leases, often times the most cost-effective way to own a BMW is to lease and that's why people are doing it. Obviously there are limitations to leasing (mileage and modification restrictions, etc.) that make leasing a non-starter for some people but there are plenty of people for whom leasing is the rational choice.

In my possibly biased and comparatively uninformed opinion, I have no interest in owning a German near-luxury brand car because I think the headache of post-warranty ownership far outweighs the benefits. I don't disagree with tj100 - buying a CPO and then getting rid of it before it becomes a maintenance nightmare is likely the most cost-effective way to get yourself a BMW, Audi or Merc if you're willing to do it.
post #156 of 228
Quote:
Originally Posted by UnFacconable View Post
Still a lot of fail going on. Only GF can know whether he wants the car for the "right" reasons (which I guess in these circumstances is for driving enjoyment) or the "wrong" reasons (which people seem to think includes creating an impression on others). I don't necessarily disagree with these viewpoints, but they are opinions, not absolute statements. There are those who think that people who dress well only do so to create an impression on others and is therefore just as bad as buying a car to impress others.

Setting that aside, GF has already shown us one reason why people lease - his out of warranty A4 is going to cost him a mint to keep on the road. Whether or not the 75% of BMW drivers lease for that reason, or any other, is really irrelevant, the question to ask is whether a given lease is a better economic decision than purchasing outright. If you intend to drive a new BMW for 3 years (which many do), I would assume the rational actor would want to minimize total cost of ownership over that period. If it's leasing, great. If it's buying and re-selling, great. Go with whatever one works. I'm going to go out on a limb and guess that with BMW's subsidized leases, often times the most cost-effective way to own a BMW is to lease and that's why people are doing it. Obviously there are limitations to leasing (mileage and modification restrictions, etc.) that make leasing a non-starter for some people but there are plenty of people for whom leasing is the rational choice.

In my possibly biased and comparatively uninformed opinion, I have no interest in owning a German near-luxury brand car because I think the headache of post-warranty ownership far outweighs the benefits. I don't disagree with tj100 - buying a CPO and then getting rid of it before it becomes a maintenance nightmare is likely the most cost-effective way to get yourself a BMW, Audi or Merc if you're willing to do it.

I completely agree that if you want/like to have a new car, leasing is the way to go. Because at the end of the lease, you don't have what you wanted anymore - you have an older car. And you get to trade in for what you do want, another leased new car. Much better deal than buying new every two years.

As I understand it (and I've been out of the BMW game for a few years), BMW subsidizes the leases because they sell a ton of CPO cars coming off leases (at decent margin) and need a steady supply.
post #157 of 228
Quote:
Originally Posted by tj100 View Post
I completely agree that if you want/like to have a new car, leasing is the way to go. Because at the end of the lease, you don't have what you wanted anymore - you have an older car. And you get to trade in for what you do want, another leased new car. Much better deal than buying new every two years.

As I understand it (and I've been out of the BMW game for a few years), BMW subsidizes the leases because they sell a ton of CPO cars coming off leases (at decent margin) and need a steady supply.

Huh - that's interesting. I wonder if they're trying to drive up residual values that way too. The fact that 75% of BMWs are leased combined with your statement about creating CPOs makes me think CPOs are a bad deal. The few times I've gone to the local BMW dealership I've been struck by what a ripoff some of the CPOs are, but assumed that was because San Francisco BMW gouges dumb San Franciscans who don't realize there are BMW dealers in the burbs.
post #158 of 228
Thread Starter 
Quote:
Originally Posted by UnFacconable View Post
Huh - that's interesting. I wonder if they're trying to drive up residual values that way too. The fact that 75% of BMWs are leased combined with your statement about creating CPOs makes me think CPOs are a bad deal. The few times I've gone to the local BMW dealership I've been struck by what a ripoff some of the CPOs are, but assumed that was because San Francisco BMW gouges dumb San Franciscans who don't realize there are BMW dealers in the burbs.

Their CPO deals definitely are not that great, in my books at least.
post #159 of 228
Quote:
Originally Posted by UnFacconable View Post
If you intend to drive a new BMW for 3 years (which many do), I would assume the rational actor would want to minimize total cost of ownership over that period.
The problem with this statement is that the OP's financial situation doesn't meet the criteria of the subjunctive clause. So discussing which he should do is a bit like discussing whether or not he should invest in a sole proprietorship llama farm or a ship building wharf. He has the capital for neither.
post #160 of 228
I currently have two BMWs: an e46 and an e39. I bought the former new. When it came time for a second car a while back, I bought the latter used (not CPO).

So far I've been very happy with the used car, for way less money overall, and so I don't think that I would do the first option again (i.e. buy new). I don't really care about having a brand-new car (one reason that I've never looked into leasing), and I didn't really know any better back then when it came to the used BMW market. I do plan to drive both cars into the ground.

Funny story. From day one, a friend of mine would always talk about my e46 when he came over; it's a sport wagon, which you don't see as many examples of. He kept saying how he wanted one of those, and so just this year, he finally tracked one down and bought it -- nearly the same exact car, just in a different color. For $5k!! Granted, it has a ton of miles, but still. That car new was almost $40k!
post #161 of 228
Why is this thread still going? Green Frog decided not to get the car, like, 4 pages ago. STFU.
post #162 of 228
Thread Starter 
okay, well this is where i currently stand. no matter what car i get, im probably going to be paying around $200 per month on insurance. i won't be spending too much on gas, so i will budget around $150 a month for that. i definitely want to lease a car for 2 years (i think 3 is too long) because owning one (which would be used) doesn't seem to make sense for me right now. what's a good budget for a lease? i spec'ed out a bottom of the line 2012 honda civic with a manual transmission and pretty much made it bare-bones and the lease cost was around $350 per month for 12k miles and 24 months!!! that was with 0 down and a $1,500 trade-in.
post #163 of 228
Get a G35/G37/350z/370z CPO or one that is still under warranty/extended warranty. Problem solved. No I didn't read this whole thread so STFU if someone already suggested that. Also, while we're on the subject of cars, new Top Gear series starts in 3 days omg! omg! omg!
post #164 of 228
Quote:
Originally Posted by GreenFrog View Post
because owning one (which would be used) doesn't seem to make sense for me right now.

What really makes sense is spending $7,500 on an early 2000s Honda Civic, beat the shit out of it for three years, and sell it for $6,500. It's not pretty, but it's what makes sense.
post #165 of 228
Thread Starter 
Quote:
Originally Posted by dtmt View Post
Get a G35/G37/350z/370z CPO or one that is still under warranty/extended warranty. Problem solved. No I didn't read this whole thread so STFU if someone already suggested that.

Also, while we're on the subject of cars, new Top Gear series starts in 3 days omg! omg! omg!

thanks for the reminder!

New Posts  All Forums:Forum Nav:
  Return Home
Styleforum › Forums › Culture › Fine Living, Home, Design & Auto › Am I crazy for wanting to lease a top-of-the-line 3-series out of college?