View Poll Results: How did you finance your car?
Voters: 63. You may not vote on this poll
how did you finance the car (lease vs. buy)
11-21-2006, 12:29 AM
#12
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My Ride: 530i M-sports package, carbon black,Beige leather dakota, Steptronic, active steering, anti-theft alarm, sunblinds for rear window and back seat window, interior and exterior mirror with anti-dazzel function, poplar brown dark, comfort seats, PDC, extended lights package, Hi-Fi loudspeakers, Innovation Package (contains Xenon, Headlight washers, adaptive headlights, Comfort access), automatic air-conditioning, professional radio, individual high gloss satine chrome,Sunroof
Also bought 
11-21-2006, 03:25 AM
#14
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Location: Middelburg, the Netherlands
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My Ride: 2004 645 Ci, Individual Stratusgrey Metallic with individual grey leather
Individual Stratos metallic, Shadow line, Black Individual leather, 19'' ellisoid, Panorama sunroof, PDC, Dynamic drive, Adaptive steering, Adaptive headlights, Voice control, Logic 7, Prof sat nav, BT phone, TV, Heated Sport seats, Ski sac, light pakket, CD-changer.
Mods (so far): iPod interface, K&N Airfilter.
Bought mine, lease was no option (hahaha)
11-21-2006, 06:43 AM
#15
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My Ride: 2005 545i Titanium Silver/Black/Poplar: Steptronic, Sport, Cold Weather, Premium Sound, Comfort Seats, Sat Radio, NAV & Shades
Lease
I can write it off plus I get bored after a year and a half. I start thinking about the next car at that point.
I can write it off plus I get bored after a year and a half. I start thinking about the next car at that point.
11-21-2006, 06:52 AM
#16
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Originally Posted by SolarFactory' post='358830' date='Nov 21 2006, 03:43 PM
Lease
I can write it off plus I get bored after a year and a half.
I can write it off plus I get bored after a year and a half.
ABC
11-21-2006, 07:27 AM
#17
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In the UK we have a variation of 'leasing' which is called a PCP (Personal Contract Purchase).
Essentially, its buying on credit, but you dont buy all the car.....
They work out what the car is worth in 3 or 4 years time when you hand it back, and you dont pay that part of the cost.
So, in my case, my car cost ?24,000 new (after discount) and its valued at ?7,000 in 4 years time with....... 120,000 miles on it. (I have to go for a deal like this to keep the figures sensible!)
I therefore am actually paying for the car as a value of ?17k
In 4 years, I have three choices.
1. keep the car and pay the final 7k
2. send the car back, finito.
3. trade it (as its supposed to be worth more than the 7k min) as a deposit on the next one.
working backwards
3. I bet it not worth much more!
2. Probably will do this.
1. Why the heck would I want to buy a car that costs 7k with 120k miles on it, when I can use the 7k to finance a new deal.
As ive said before, car prices in the usa are so much lower in the uk!
PCP pricing from a major UK company
http://www.freewaycars.co.uk
you might want to compare the cost of your USA car to the price on this site, multiplying by about 1.85
cheers
steve
Essentially, its buying on credit, but you dont buy all the car.....
They work out what the car is worth in 3 or 4 years time when you hand it back, and you dont pay that part of the cost.
So, in my case, my car cost ?24,000 new (after discount) and its valued at ?7,000 in 4 years time with....... 120,000 miles on it. (I have to go for a deal like this to keep the figures sensible!)
I therefore am actually paying for the car as a value of ?17k
In 4 years, I have three choices.
1. keep the car and pay the final 7k
2. send the car back, finito.
3. trade it (as its supposed to be worth more than the 7k min) as a deposit on the next one.
working backwards
3. I bet it not worth much more!
2. Probably will do this.
1. Why the heck would I want to buy a car that costs 7k with 120k miles on it, when I can use the 7k to finance a new deal.
As ive said before, car prices in the usa are so much lower in the uk!
PCP pricing from a major UK company
http://www.freewaycars.co.uk
you might want to compare the cost of your USA car to the price on this site, multiplying by about 1.85
cheers
steve
11-21-2006, 07:52 AM
#18
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My Ride: Jan 2006 E63 650i Sport
.
Options:
Sport version (includes: sport-seats, sport-suspension, M-Sport steering wheel, Anthracite headliner, Shaddow Line), Saphire Black, Black Dakota Leather, Anthracite Maple Wood trim, Steptronic Auto, Xenons, NAV-Professional with Voice Control, TV, CD-Changer, Bluetooth, Logic7, Head-up Display, Comfort Access, Seat Heating front, Auto Dimming & Folding Mirrors, Extended Auto Air Conditioning, PDC.
.
Mods:
Spacers 5mm front & 15mm rear
.
Wheels:
20" Alpina Softline (Classic) with Dunlop Sport Maxx non-RFT (255/35/20 & 285/30/20)
Company car, so leased. 2-3 years / 120.000KM.
If I was financing my own car, I'd purchase it, not lease it.
Cheers
If I was financing my own car, I'd purchase it, not lease it.
Cheers
11-21-2006, 08:42 AM
#19
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My Ride: My ex-ride: EU '08 LCI 520dA. Space Grey, Sport Seats in Black Leather/Fabric Anthracite, Sport Steering Wheel, A/C with Extended Features, Hi-Fi Speakers, Cup Holders, Cruise with Braking function, Folding Rear Seats, Xenons, Park Distance Control.
If you have the money and do not know a better way how to loose it - buy cash, as I did.
But money should be doning money... so lease!
But money should be doning money... so lease!
11-21-2006, 08:52 AM
#20
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Originally Posted by Ricracing' post='358868' date='Nov 21 2006, 10:42 AM
If you have the money and do not know a better way how to loose it - buy cash, as I did.
But money should be doning money... so lease!
But money should be doning money... so lease!
IMHO, there is absolutely no reason to buy a 525/530i now in the U.S. as lease rates are rediculously low (MF = 0.0005 or 1.2% APR). You can always buy it at the end of the lease if you wish.