2005.E60.V8.6SPD

I was just curious how many people actually bought their E60 or ended up leasing it and why?

subterFUSE

I purchased mine, cash.

I'm glad I did it that way. I thought about leasing, but the whole mileage limitation issue worries me. I put a lot of miles on my car in the first year. If you drive high-miles, leasing sometimes isn't the best option.

2005.E60.V8.6SPD

same here.
But I purchased it because I love E60.
I plan to keep it for a long time.

TXPearl

I leased, because I know I'll get rid of it after about 3 years, and the leasing is heavily subsidized (both the residual values and interest rates). If I purchased, then traded after 3 years, my guess is I'd lose about $5K versus a lease.

But for those who plan to keep longer, I'd agree with a purchase.

1esquire

How about this question:

If the monthly payment were the exact same, would you rather lease a new 530/535, or buy an '04 545 (with less than 30k miles)?

My debate is

leasing = not really your car and not worth putting money into lowering it, adding m-tech, etc.

vs.

buying = you can do what you want to the car, but you (1) don't have the latest and greatest and (2) may have non-warranty repairs to make when the warranty expires.

s4awd

I leased. Here are my reasons:

1: BMW's are like LV bags and cell phones. You can't drive the older ones even if there is nothing wrong with them.

2: My 550 rattles like crazy after 800 miles. Do I care? No.

3: The new facelift was just introduced. Do I care? No.

4: Do I get depressed when I see spy photos of the next gen M3, 5 series and various concept cars? No.

5: Do I love the car? Yes. Do I want another new car in 3 years? Hell's yeah!!!!!

The vehicle that I did buy is a Toyota Tacoma. For my bikes, house, garden, commute, it's the best purchase I've ever made. That thing will be with me until the day I die. I love it.

jrsamps

Knowing how sophisticated and EXPENSIVE these cars are to maintain after warranty - I opted for leasing. BMW Fianance has a decent option of letting you purchase additional mileage at a discounted rated toward the end of the lease (if you need it)

300TTto545

Why not lease? If you want the car after 3 years, you can just buy it. The only downside is that you have been financing a bit more $$ than you would have (usually) when purchased. The upside is that if the car is a partial lemon in any way, you can dump it. If the facelift just blows away the old ones, then you can dump it. If gas prices go to $8.00 a gallon, you can dump it. If anything significantly affects resale ...... you guessed it ... you can dump it.

Now if you want to git rid of before 3 years, I think you do get screwed or have to swaplease or some unorthodox solution.

I haven't yet decided if I will keep mine - just 9 months away. I have zero (or at least few) rattles, zero mechanical problems, and way too many miles (37,000) with another 10 before it goes (17,000 miles over at $.15 if purchased early = $2500 - rough guess). That knocks my residual down to $33k I think. Hard to beat a 545 for $33k....

bimmerturn

I bought cash, I did not want to deal with the payment. I know I might look to change in 3 to 4 years but that is ok. Like another said above, I added the M Kit and wheels and would not have done that if leased.

Lease is great if it fits your budget and mileage needs. When all said leasing and financing are the same, you don't own the car in either situation. Most likely they will turn out to be the same in 3 to 4 years from an ownership cost point of view.

SergeyM

It seems to me that a 2-year lease is the way to do it with BMWs. If timed right you can always drive the updated version.

2004 - New generation. Get it.
2005 - No major changes. Skip.
2006 - New engines. Get It.
2007 - No major changes. Skip.
2008 - Refresh. New engines (6 cyl at least). Get it.
2009 - Skip at least a new powerful V8 or V10 engine is introduced.
2010 - Get the last and greatest E60.

I am on a 2-year lease but my timing was off. Hope they will put a stronger V8 in 2009 model.