Talk Me Into or Out of Leasing

[4444]

Originally Posted by Euro7r

Well, I don't have a family or any debt to be tied down with yet, hence; obviously I have more now than later. When I factor in family and kids in the future, I won't have the freedom to enjoy certain things since what I make later on will be all towards family. With high cost of living, I wouldn't spend money on a nice in the future anymore since when you have a family everything costs more.

Not sure if your trolling or not, but if I didn't have a good enough career to make a decision on getting a BMW, I wouldn't even bring it up in the first place. All I just wanted was to hear out on people's opinions for those that are already leasing.

I'm dead serious. Anyone who thinks now is the time with the most free cashflow and wants to use up a large chunk of that on a car is an idiot.

It's not about debt, you really should plan on never being in debt (a mortgage on a house, unless in negative equity, is not debt, but that's a different story) - why does anyone need debt other than to pay for education (good debt) or to start a business (can be good debt) if u use debt to buy a car (unless through a company via a lease), you're living above ur means and need to grow up

[StylinRed]

2 lazy to read



but even if you want to finance it why wouldn't you just lease it first? interest rates are the same or even lower on a lease these days and you pay less monthly

and at the end of your lease you could buy it out/finance it

[mos_skeeto]

Originally Posted by 4444

I'm dead serious. Anyone who thinks now is the time with the most free cashflow and wants to use up a large chunk of that on a car is an idiot.

It's not about debt, you really should plan on never being in debt (a mortgage on a house, unless in negative equity, is not debt, but that's a different story) - why does anyone need debt other than to pay for education (good debt) or to start a business (can be good debt) if u use debt to buy a car (unless through a company via a lease), you're living above ur means and need to grow up

I get what you're trying to get at. Not getting into debt is ideal but I think there are many cases where buying a car via lease/finance is fine and not living above your means. I bought my first car straight up because I was living with my family and I can save very easily. I bought a condo a few years ago and I save less now. You can dress it up however you want (good-debt, non-negative equity debt) but it's still debt. You're still below 0. My next car will likely be financed. I don't think I 'need to grow up' when I buy my next car. If you can budget intelligently and take advantage of low finance rates... debt with a car or something 'fun' like a boat isn't a bad thing. Not ideal but not a bad thing if you can budget properly.

OP open up a spreadsheet. Put each car on a different row. For lease, calculate all your costs (down payment, monthly cost, ect). See how much it all costs after 3-4 years. Do the same thing with finance rates and you can grab an estimate of how much your car is worth at the end via blackbook (google it). Use that to figure out which scenario is better for you after your term.

[UFO]

Aside from the lease vs. buy/finance discussion, is a 128 really that much of an upgrade over a TSX? The 128 will have a smaller trunk, smaller rear seats, 2 less doors, and drinks more gas. If you take the jump to a 135, then the whole experience is different. If you buy a used TSX, drive and enjoy it. If you happen to need to free up some money in the next 1-2 years for whatever, you can sell it back out at any time with minimal losses and just rebuy a cheap DD.

I see where you are coming from financially, living comfortably with some extra disposable income available for the next couple of years. But best to test drive some cars to before you can decide on what you want to afford. If you lease, you are tied in for 3-4 years and at your age a lot can change pretty quickly in that time period so you lose quite a bit of flexibility by being tied down to your car (instead of gf/wife, kids, home). Owning/leasing a 128 isn't exactly a once in a lifetime decision, your future should be able to afford you this opportunity without having to make too many sacrifices down the road.

[Over9K]

RWD.

[Ferra]

Originally Posted by yray

40k 128i @688 with 4.6k down; I doubt op would buy base model and black/white non metallic paint.

Don't think anyone pays MSRP either...
I got $7300 off MSRP when i brought my 2009 335i...
(and a base 128i is only 36K, and is pretty well equipped as is. You get the audio, premium and msport package, but none of them are that important if you are on a budget.)

I think people should live within their mean and not over spend, but I also think people who pinch every penny and doesn't enjoy life because of that is more pathetic..
life is short and money means nothing when you go to your grave...I'd say pick whatever makes you happy.

btw...i think the 1 series looks like an ugly midget car..lol get the tsx and save yourself some money too

[yray]

^ rarely can you deal the price for lease, forgot to add that was lease rate.

[belaud]

Originally Posted by yray

^ rarely can you deal the price for lease, forgot to add that was lease rate.

I'm sorry, but have you ever leased a vehicle? They are still flexible with the price regardless if you pay cash or not, so long as the vehicle you are buying is not a hit like the Prius.

I had asked prices for a 2012 Mustang GT, 2012 STI, 2012 Evo, 2012 Camaro SS, and they were all willing to do invoice + 4% (though not 3%) even when I mentioned I would like to lease. They make the majority of your money through the fee's and future services, not from the MSRP of the vehicle.

[extracrunchie]

Originally Posted by belaud

ICBC difference from 2dr to 4dr isnt all that big, it depends on the model of the car too, an 04 WRX is more powerful then the 2008 civic SI, but it costs a whole tit load more to insure because of their no.1 "most stolen" car rate, as well as having one of the highest totalled loses right next to the big brother STI and civics.

By all means, grab the BMW then if they have the free maintenance for lease/financing vehicles, though wait for their year end sale or "surprise" sales.

I'm not sure how this question is asked in context if I would buy mods from Subaru, yes I would, and I already did, though I installed it myself, I've been given no flak about it either.

Originally Posted by belaud

Whats with the face?

Any car in the 30k+ range is hard to maintain, I'm just saying grab the car of his choice when they're offering free maintenance in the lease years.

I'm leasing my car with a fat down payment just to pass credit check. To the OP, don't put a big down payment on the car unless you are planning to buy the car out, if you don't pass credit check with the default down payment shown in ads or whatnot ($333month for 7609 down payment), you can't afford the car.

Mods are allowed so long as they're from factory catalogue and purchased from the dealership or any "certified" shop.

I should be giving you the face.

I believe you have it wrong there bud, any european car is hard to maintain, that being said they are a blast to drive and own.

Also I have owned a 95 prelude sr-v and a 2007 TSX and let me tell you the insurance is pretty much the same. In general 4 doors are cheaper to insure but there are factors such as most stolen car and mostly owned by young ppl. They also rate it by safety, the more airbags or safety features your car has, the less the insurance will be.

Also I see no point of modding a leased car unless you plan to own, modding a lease car is just a bottomless money pit.

[extracrunchie]

Originally Posted by belaud

I'm sorry, but have you ever leased a vehicle? They are still flexible with the price regardless if you pay cash or not, so long as the vehicle you are buying is not a hit like the Prius.

I had asked prices for a 2012 Mustang GT, 2012 STI, 2012 Evo, 2012 Camaro SS, and they were all willing to do invoice + 4% (though not 3%) even when I mentioned I would like to lease. They make the majority of your money through the fee's and future services, not from the MSRP of the vehicle.

Yup, right now leasing rates are really attractive.

[Over9K]

Originally Posted by extracrunchie

I believe you have it wrong there bud, any european car is hard to maintain, that being said they are a blast to drive and own.

Also I have owned a 95 prelude sr-v and a 2007 TSX and let me tell you the insurance is pretty much the same. In general 4 doors are cheaper to insure but there are factors such as most stolen car and mostly owned by Asian ppl. They also rate it by safety, the more airbags or safety features your car has, the less the insurance will be.

Also I see no point of modding a leased car unless you plan to own, modding a lease car is just a bottomless money pit.

Fixed.