View Poll Results: Just wondering...
Voters: 168. You may not vote on this poll
Did you lease or buy your E60?
Senior Members
Joined: Aug 2004
Posts: 546
Likes: 0
From: Little Rock, Arkansas, USA
"Yep, I get rid of that outdated car every three years; but I've had a car payment for 32 years that I could have invested and made 1.4 million instead."
"Leasing guys" are so hard to change.
"Leasing guys" are so hard to change.
Senior Members
Joined: Jun 2005
Posts: 272
Likes: 0
From: Toronto
My Ride: 2006 530i.... Saphire Black Metallic...19 inch Axis Milanos....Auburn dakota interior.....ACS rear lip spoiler... And a whole lot of head turns ;)
Leased and will continue to do so.
Whoever said leasing means you cant afford it, is completely outa their mind.
In the past 3 cars I have leased, I have negotiated with my dealer to give me equity in the car that i leased. For Instance, I had my lexus GS430, which was on a 48 month lease, my BMW Dealership gave me 2000 above the buyout value for the lexus and got me into my 530.
Im an enthusiast, Cars are a tool more than anything else, I rather drive a new car every few years and not have to worry about maintenance and failure because i have it covered under warranty. than to purchase a car and keep it for a long period of time.
Whoever said leasing means you cant afford it, is completely outa their mind.
In the past 3 cars I have leased, I have negotiated with my dealer to give me equity in the car that i leased. For Instance, I had my lexus GS430, which was on a 48 month lease, my BMW Dealership gave me 2000 above the buyout value for the lexus and got me into my 530.
Im an enthusiast, Cars are a tool more than anything else, I rather drive a new car every few years and not have to worry about maintenance and failure because i have it covered under warranty. than to purchase a car and keep it for a long period of time.
Senior Members
Joined: Nov 2005
Posts: 3,236
Likes: 0
From: sofia / london
American "leasing" is kinda like long-term renting.
[/quote]
oh ok
yes the bank is financing the purchase, and i gotta pay off the whole thing in 36 months otherwise they take the car back
... on a side note i would loveto be able to rent the car, cause i only ever do about 12000km a year, but sadly this
option is not available yet.
Members
Joined: Jan 2006
Posts: 113
Likes: 0
From: mequon, wi, usa
My Ride: 1973 porsche 911, 32,000 miles,with all S options and leather sport seats. 2004 porsche GT3,white track car, 2003 porsche boxter "my wife's" 2004 3/4 ton suburban tow vehicle, 24' pace trailer, 2006 BMW530XI, black, auburn, also "my wife's" about to buy a BMW 550I,silver gray,
We've all done the purchase and keep it forever. Three years later I'm up for something new and now I'm stuck! Besides, you can't depreciate a car fast enough, as you can with trucks. If you buy it personally you have spent taxed $, so a $64,000. car cost you $120,000. ??? Ya, that smart
Contributors
Joined: Aug 2005
Posts: 6,554
Likes: 0
From: Austin TX
My Ride: 2014 X5 xDrive 5.0 M Package Carbon Black Metallic/2008 M Roadster Imola Red
Originally Posted by Evenflow545' post='235450' date='Feb 6 2006, 12:26 AM
I concur with the post two posts back. Cars are a waste of cash. Period. But they're even more of a waste of cash if you lease them. You can sit up all night and try to justify it, but, in the end, it's a waste of cash. But, they're fun. So, whether you lease or buy, have fun. But don't try to act like you're either making or saving cash by "renting" a car, because you're not, I assure you.
I'm still waiting for a competent CPA to disagree, of course.
I'm still waiting for a competent CPA to disagree, of course.
Members
Joined: Jan 2006
Posts: 33
Likes: 0
From: Munich Area, Germany
My Ride: Soon to be delivered 523iA
Leased through my company because I had to. Otherwise I would probably have bought a slightly used one (3-12 months) and would keep it for five to six years until a new model becomes available.
Buying gives you the most flexibility. People arguing in favour of leasing using low rates in their examples tend to forget that low leasing rates usually indicate great deals available to people willing to pay cash.
Also, keeping your car for more than three years saves you significant cost because in my country cars tend to loose 50% of their list price value after three years and roughly 75% after six years. This means that you save 25% of the list price value every six years if you go for the six-year-cycle...
On the other hand, getting to drive a new car every three years is fun. Therefore, I am certainly interested in arguments proving that leasing beats buying
Buying gives you the most flexibility. People arguing in favour of leasing using low rates in their examples tend to forget that low leasing rates usually indicate great deals available to people willing to pay cash.
Also, keeping your car for more than three years saves you significant cost because in my country cars tend to loose 50% of their list price value after three years and roughly 75% after six years. This means that you save 25% of the list price value every six years if you go for the six-year-cycle...
On the other hand, getting to drive a new car every three years is fun. Therefore, I am certainly interested in arguments proving that leasing beats buying
