[DocL]

Originally Posted by P1

You mean drive it within an inch of its life...

I didn’t say abuse it, just put the miles on it and don’t worry. If it was a Honda Civic, then yes. Drive it to within an inch of it’s life.

[BimmerDimmer6]

Originally Posted by F32Fleet

I buy new because I don't want to buy a ragged out 2-3 yr old lease turn-in which was just returned to stock tune.

Ehh doesn't bother me when I'm saving tens of thousands!

Having a good "in" with your local exotic dealer can be extremely valuable also. They can usually source you low mile grandpa owned cars pretty easily. I've even bought at dealer auctions before! But I'm a sucker for a good deal, so don't listen to me lol.

[BimmerDimmer6]

Originally Posted by upstatedoc

are you 21?

Arby's manager?

[Alfisti]

Originally Posted by BimmerDimmer6

I don't understand leases or people that buy new for that matter. I don't care how successful I am, I'd never buy another high end vehicle new again. You hate money if you do imo

Wait 2-3 years, find low miles, finance, and drive cars for practically nothing if you're smart.

This.

We bought a 3 year old 2013 X3, 35i, loaded to the gills. Was CPO'd so fresh rubber, brakes etc, 37,000KM and exec driven (zero wear on the seats other than the driver seat). Out the door, all taxes and fees, $42K. Total cost of ownership over 3.5 years for depreciation and repairs outside of those we would incur under a lease anyways, was $23K, and this includes the inevitable water pump failure.

So 42 months, 23K, call it $550 month.

When we bought it i had the dealer draw up his best offer on anew X3, slightly lower spec but still loaded, best he could do was $831 a month all costs in. So a scary delta of near 12K in 3.5 years.

We are now driving a brand new Stelvio, fantastic vehicle, happy with it but all in, $841 month. I am prepared to go to war with the wife to buy used next time.

[dreamingat30fps]

Originally Posted by F32Fleet

I buy new because I don't want to buy a ragged out 2-3 yr old lease turn-in which was just returned to stock tune.

Not everyone sucks at finding good used deals. Most of my cars were purchased used or cpo. The few I bought new I regretted. Every used/cpo car I've purchased has been in mint condition. The average person would not be able to tell it was a used car.

Now if you go buy the first jalopy you see... that's on you.

[SSW]

I've leased a lot of vehicles in my time but never drove any of them enough to worry about the mileage limit in the lease.

Main reason for this is because I always owned/leased more than 1 car at the same time. So, if you can afford it, I'd just suggest buying/leasing another car and splitting the driving distance between the 2.

If you can't afford another car, then you'll just have to bite the bullet and pay the excess mileage charges when you return the car (which will probably be less than the cost of a 2nd car anyway).

Good luck!

[zx10guy]

I have bought vehicles new and used. My last three cars were bought new. Won't apologize for it. I know how I am which is I hang on to my vehicles like old comfortable underwear. Well maybe that's the wrong analogy. My 2006 Focus was bought new. The only thing that did in that car was hitting a dear which forced the car to be totaled. That was back in 2014 with the car clocking in 176k miles.

I bought my 2013 135i new. I've never owned a luxury brand car before and decided to go all in along with some personal reasons why I decided to make this leap. I still have the car with no real intentions on getting rid of it. My daily beater is a 2019 Toyota C-HR bought new with every intention of driving till the wheels all off. I still have a 2004 ZX-10R bought new along with a 2009 848. I did buy a 2016 C650 Sport used recently.

My point is it depends on a number of factors. Just because you buy new doesn't mean you love burning money. For me, any discussions about depreciation is moot as I have a history of holding on to my vehicles well past any depreciation being a factor.

On the topic of this thread, to me, leasing is just a fancy way of saying you're renting a car with the option to buy at the end. Never understood people that lease a vehicle and proceed to pour additional money into modifying it. While some do end up purchasing the vehicle, I would wager most don't and have to go through the headaches of restoring the car to stock.

[FCBuff]

OP, obviously I don't know all the financial specifics. However, what does the residual look like? Consider buying it out, and the miles won't matter. Keep driving it. Own the car for the long haul and it will all average out.

Don't worry. Just drive it!

[ASAP]

i know people will rag on me but imho leases rarely work out to anyone's favor and almost always cost more that the comparable purchase over the 3 years... this is including depreciation etc... then dealing with the mileage etc...now once you start getting into cars like the M3 or the M2 leasing becomes an even worse idea...

[ASAP]

Originally Posted by dreamingat30fps

Not everyone sucks at finding good used deals. Most of my cars were purchased used or cpo. The few I bought new I regretted. Every used/cpo car I've purchased has been in mint condition. The average person would not be able to tell it was a used car.

Now if you go buy the first jalopy you see... that's on you.

almost exclusively a CPO vehicle that is 2 years old with low mileage will always be the best deal by a mile...

I bought my M2C new at invoice but only because used M2Cs at the time were selling for almost new pricing... plus all M cars (no matter what lies anyone tell you are beaten to utter shit)... in any other situation, used 2-3 years old... always

[tcphoto]

I've leased a couple vehicles and considered my budget, mileage and was able to deduct a good amount of the payments due to business use. If you considered these factors also, the promotion should balance out the additional mileage charges. Otherwise, add a budget beater to put miles on and do minimal maintenance to keep it on the road.

[sygazelle]

Originally Posted by G35POPPEDMYCHERRY

don't overthink your car purchases. sours the ownership enjoyment.

The OP didn't purchase the car and he doesn't own it. That's the problem. If he owned it, he wouldn't have to worry about going the lease mileage limit.

[ASAP]

Originally Posted by BimmerDimmer6

I don't understand leases or people that buy new for that matter. I don't care how successful I am, I'd never buy another high end vehicle new again. You hate money if you do imo

Wait 2-3 years, find low miles, finance, and drive cars for practically nothing if you're smart.

I would agree with this in 99.999% of cases... the exception being used M2's and M3s... they are all beat to total shit... no one buys them to sit and buying one out of warranty or one w 2 years of warranty remaining is imho playing with fire...

Yeah let's go buy a used 3 year old car for 50K that has been beaten to death... wouldn't recommend that to anyone.

[dreamingat30fps]

Originally Posted by ASAP

almost exclusively a CPO vehicle that is 2 years old with low mileage will always be the best deal by a mile...

I bought my M2C new at invoice but only because used M2Cs at the time were selling for almost new pricing... plus all M cars (no matter what lies anyone tell you are beaten to utter shit)... in any other situation, used 2-3 years old... always

Dunno only owned 1 M and that was my Z4MR. Best car I ever owned. It was already like 5 or 6 years old when I bought it. Was in great condition. Owned it longer than any other car like 5 years and apart from the alternator going bad right around the time I sold it and the soft top motor going bad (which was kinda my fault for not knowing it was a known issues and keeping drains clean) I had no problems. I did regular maintenance and was my daily driver at the time.

I remember when I sold it I calculated what it cost me to drive the car for those 5 years and I believe when you accounted for repairs etc it ended up being around $100/mo. Now that's not the norm because the Z4M held it's value very well but still. I would probably not buy a newer M car without a warranty... but then I probably wouldn't buy a newer M car period.

[G35POPPEDMYCHERRY]

Originally Posted by BimmerDimmer6

I don't understand leases or people that buy new for that matter. I don't care how successful I am, I'd never buy another high end vehicle new again. You hate money if you do imo

Wait 2-3 years, find low miles, finance, and drive cars for practically nothing if you're smart.

Not the biggest mistake per say but buying the m3 brand spanking new upon graduation wasn't the brightest move. Sure I can easily afford it. But I could have just gotten a used one and it would have been just the same

[premier3is]

Originally Posted by ASAP

i know people will rag on me but imho leases rarely work out to anyone's favor and almost always cost more that the comparable purchase over the 3 years... this is including depreciation etc... then dealing with the mileage etc...now once you start getting into cars like the M3 or the M2 leasing becomes an even worse idea...

Let's look at a long term example....

50k 3 series for 500 a month... 3 year lease.. paid 18k and own nothing. Do it again 2 more times and at 9 years you've paid a total of 54k to own nothing. Assuming you don't have to change brakes and tires in any of those leases and with BMW maintenance covered that's all of your expenses and payments all inclusive.

If you bought that first 3 series you leased, you paid 50k for it and its value after 9 years of you owning it is what? Like 7-9k (2010 3 series google search was around 7-9k).

so if you sold, you'll say your better off with buying vs. leasing since you retained 7-9k after 9 years. But factor in maintenance for 9 years and your probably close to 0 (just like the lease).. or you might be plus a couple grand.

Before you all here bitch about the numbers being wrong or some shit, these are just estimates so don't get your panties in a bunch. For me, I'd rather just lease a new car every 3 years and not worry about shit. Saving a couple grand makes no difference to me in like 10 years, and if it does to you you probably shouldn't be driving a BMW.

[sygazelle]

Originally Posted by premier3is

Let's look at a long term example....

50k 3 series for 500 a month... 3 year lease.. paid 18k and own nothing. Do it again 2 more times and at 9 years you've paid a total of 54k to own nothing. Assuming you don't have to change brakes and tires in any of those leases and with BMW maintenance covered that's all of your expenses and payments all inclusive.

If you bought that first 3 series you leased, you paid 50k for it and its value after 9 years of you owning it is what? Like 7-9k (2010 3 series google search was around 7-9k).

so if you sold, you'll say your better off with buying vs. leasing since you retained 7-9k after 9 years. But factor in maintenance for 9 years and your probably close to 0 (just like the lease).. or you might be plus a couple grand.

Before you all here bitch about the numbers being wrong or some shit, these are just estimates so don't get your panties in a bunch. For me, I'd rather own a new car every 3 years and not worry about shit. Saving a couple grand makes no difference to me in like 10 years, and if it does to you you probably shouldn't be driving a BMW.

Actually, the example you just gave is pretty sound in favor of leasing. I've always purchased because I don't like to be perpetually paying for the most expensive years of depreciation (1st 3 years). But, if you take advantage of BMW lease deals in terms of both money factor (interest rate) and customer friendly residual percentages, leasing starts making sense from a pure financial perspective. There are other reasons why people lease and for them, it's reason enough: No worries about maintenance, new shiny object every three years. You can come on a forum and say you've owned 27 BMWs in past 6 years (this last one was just for humor).


However, if you are leasing at normal market rates with normal market residuals, the economics gets a bit tougher. That $500 a month becomes $720 a month and over your 9 year example, you'd spend $77k in lease payments and still not own anything and have limited mile usages (tied back to the topic of the OP). That may still be a good deal if driving an new car all the time and having no worries about repair or maintenance are key factors for you.

Anyway, thanks for adding a really interesting approach to comparing ownership to leasing.

[premier3is]

Originally Posted by sygazelle

Actually, the example you just gave is pretty sound in favor of leasing. I've always purchased because I don't like to be perpetually paying for the most expensive years of depreciation (1st 3 years). But, if you take advantage of BMW lease deals in terms of both money factor (interest rate) and customer friendly residual percentages, leasing starts making sense from a pure financial perspective. There are other reasons why people lease and for them, it's reason enough: No worries about maintenance, new shiny object every three years. You can come on a forum and say you've owned 27 BMWs in past 6 years (this last one was just for humor).


However, if you are leasing at normal market rates with normal market residuals, the economics gets a bit tougher. That $500 a month becomes $720 a month and over your 9 year example, you'd spend $77k in lease payments and still not own anything and have limited mile usages (tied back to the topic of the OP). That may still be a good deal if driving an new car all the time and having no worries about repair or maintenance are key factors for you.

Anyway, thanks for adding a really interesting approach to comparing ownership to leasing.

The numbers can jump based on markets like you said, but usually it won't be that drastic like from 500 to 720 in 3 years, unless you jump up to an M or a different series or something. But who knows, that's just from my experience and everyone is different.

Either way, they will fuck you one way or another whether you lease or buy.

[eluded]

No worries. With corona u can have a job today and be unemployed tomorrow

[ASAP]

Originally Posted by premier3is

Let's look at a long term example....

50k 3 series for 500 a month... 3 year lease.. paid 18k and own nothing. Do it again 2 more times and at 9 years you've paid a total of 54k to own nothing. Assuming you don't have to change brakes and tires in any of those leases and with BMW maintenance covered that's all of your expenses and payments all inclusive.

If you bought that first 3 series you leased, you paid 50k for it and its value after 9 years of you owning it is what? Like 7-9k (2010 3 series google search was around 7-9k).

so if you sold, you'll say your better off with buying vs. leasing since you retained 7-9k after 9 years. But factor in maintenance for 9 years and your probably close to 0 (just like the lease).. or you might be plus a couple grand.

Before you all here bitch about the numbers being wrong or some shit, these are just estimates so don't get your panties in a bunch. For me, I'd rather just lease a new car every 3 years and not worry about shit. Saving a couple grand makes no difference to me in like 10 years, and if it does to you you probably shouldn't be driving a BMW.

Really odd math... as I dont think anyone ever buys out a lease nor is it even advised as the residual is typically higher than market value of the car.

[ASAP]

Originally Posted by eluded

No worries. With corona u can have a job today and be unemployed tomorrow

That's the fault of the corona if you work in the restaurant or bar industry otherwise everything else is self inflicted thru years of economic and corporate mismanagement.

[dreamingat30fps]

Originally Posted by premier3is

Let's look at a long term example....

50k 3 series for 500 a month... 3 year lease.. paid 18k and own nothing. Do it again 2 more times and at 9 years you've paid a total of 54k to own nothing. Assuming you don't have to change brakes and tires in any of those leases and with BMW maintenance covered that's all of your expenses and payments all inclusive.

If you bought that first 3 series you leased, you paid 50k for it and its value after 9 years of you owning it is what? Like 7-9k (2010 3 series google search was around 7-9k).

so if you sold, you'll say your better off with buying vs. leasing since you retained 7-9k after 9 years. But factor in maintenance for 9 years and your probably close to 0 (just like the lease).. or you might be plus a couple grand.

Before you all here bitch about the numbers being wrong or some shit, these are just estimates so don't get your panties in a bunch. For me, I'd rather just lease a new car every 3 years and not worry about shit. Saving a couple grand makes no difference to me in like 10 years, and if it does to you you probably shouldn't be driving a BMW.

This also assumes if you buy you will keep it for 9 years vs leasing a new one every 3 years. I buy and I usually only keep my cars about 2 years. It also assumes you're buying new. Over 2 years I don't think any of my cars have lost more than $10k when I sold them and that's worst case scenario. Most of them have been $5k or less.

Considering how often I change cars I have looked into leasing a lot, however it has never made any sense to me. Aside from the financial benefit to buying used there is also the psychological benefit that I'm not tied down to anything. I can drive it as often as I feel like and if the shit hit's the fan I can sell it on the spot and buy me a jalopy or since I pay cash for most of my cars I don't have to worry about shit.