TexaZ3

Some of you might remember a thread about my recent fender bender - my '04 530i was wrecked w/ ~$12K in damages, and currently in a body shop.
I'm thinking about selling the car and leasing a '08 535i. And here is the dilemma - I have never leased a car so I don't know whether I should do this or just keep my '04. I've got a decent settlement from an insurance company so the value of the old car is not an issue. I will be paying about $75 more a month for a leased car - I'm thinking about leasing for 36 months. At the same time, in about 30 months my 04 will be paid off if I decide to keep it, and then I could just sell it (for whatever I could get) and get me an F10. About the only thing that worries me is that warranty on my 530i expires this coming August, and the fact that it was in an accident. I change cars every 3-4 years so leasing a new car for 36 months makes perfect sense to me, I guess I just can't convince myself to pay more for something that I will never own. Would like to hear your opinions. Thanks!

kscarrol

Given the apparently fair settlement and more importantly, in my view, the pending loss of warranty coverage, I'd go for the new 535. You won't be disappointed! I went through the same decision process (almost, no wreck!) about impending warranty ending and eventually went with a new car. The upgrade to the interior is a definite plus in my view, along with the minor refienments on the outside. Go drive the 535 if you haven't and your decision will be easy, it is a sweet car. I had a hard time choosing and even though I went with the 550 I could very easily have picked the 535 and been just as happy. What tilted me to the 550 was the exterior difference including aero package and wheels, but you could add that to a 535 if you really wanted. Not that I would suggest it on a leased car but some have done it.

As for the three year lease, that will but you in perfect range for the new F10 when your lease expires!

pennetta

Get the 535, no question. Differences from '04 530- The interior is at 550 level, performance is virtually at 550 level, brakes are the same as 550, options previously only found on V8 models are either standard or available, if you get the sport package you get the staggard wheels. More power is only a software download away. Ride is much better with sport package, you can get paddle shifters.

JeffNNJ

I don't know but I can tell you that there's a world of difference between my 06 and my 08 550s. It's almost like they're two different cars. The old one was great but the new one is incredible.

TexaZ3

Thanks for all your replies.
I never really questioned the fact that 535i is a much better car. I drove two 535s and they are amazing.
The problem that I'm having is with leasing. It seems like throwing money on something that I don't really own. In addition to all that, I'm in Texas, and I have to pay sales tax on the entire purchase price. I'm looking to pay as much in taxes and interest as I will be paying on car's depreciation, of not more. Just don't feel like a smart thing to do.
I have negotiated a good price for the car ($1000 over invoice for 535i: Monaco Blue/Natural Brown w Sport/Premium/Sport Auto/Ipod - that is all I need - I will order the car cause they don't have in stock), but having hard time convincing myself to lease. Talk some sense into me! :-)

DINAN530i

I always buy my cars for the fact that i like to own, I too always felt like leasing is renting a car... But others might have different views. its really a matter of perception.

tuco

I own my 535xi but I have leased in the past. Some like leasing, others not so much. It doesn't matter whether you lease or buy from a depreciation POV, as a purchased car and a leased car will depreciate at the same rate. BMW usually has good lease rates, and the cars have high residuals for leasing. If you are thinking F10 in a few years, I would likely lease, rather than buy.

In Texas, you pay the state tax on the purchase price in a purchase, right? If so, same as here (here, on the net purchase price if a trade is involved). If leasing, you pay your state tax as you make your lease payments, right? That was one of the things I liked about leasing - not having to pay that monster tax up front.

Really your choice, there is nothing wrong with leasing, and in this case, it may work better for you.

jcool10181

If you switch cars every 3-4 years then leasing is your best option. You get lower monthly payments with least money down which means less money out of your pocket compared to financing after 3-4 years.

Gene

+1, also, seems like you are planning on getting an F10 and worried about getting hit if you trade in your 530 for it. Dodge the add'd aggravation a few more years of depreciation (and maintenence expenses: with or without an extended warranty) and do a 36 month lease, that'll hold you over till the F10 comes off the assembly line....you might even be able to shop that price around right now and get better than 1K over invoice, I got $600 over incvoice on mine, and that was back in december, the way this economy is going, you gotta be able to get a better deal somewhere...good luck with whatever you decide to do...bring on the F10

BizyB

Why choose, go for both, they are both good .... but seriously, if I could I would go for 08 E60.