11-27-2013, 10:38 AM | #46 | |
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Makes perfect sense to me .... |
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11-27-2013, 11:15 AM | #47 |
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Not sure I understand. You didn't put 15k down on a lease did you?
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11-27-2013, 11:24 AM | #48 |
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11-27-2013, 11:27 AM | #49 |
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Is leasing still not more expensive vs. buying in the long run? Lets say you like to keep the car for longer, I think buying will be cheaper? Sure it's nice to drive a brand new car every 3-4 years I always thought of leasing like renting almost lol
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11-27-2013, 11:38 AM | #50 | |
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Buying the lease out at the end is probably more expensive that just straight financing, however, the benefit of a lease is that you get to "test" the vehicle for 36 months for essentially straight depreciation - then you have the option to buy it if you so choose. You can then apply your MSD's towards buying it out. |
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11-27-2013, 11:46 AM | #51 | |
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11-27-2013, 11:53 AM | #52 |
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Regarding the use of multiple security deposits, it's overstating the case to say they bring the MF down that much because this neglects the fact that you will earn nothing on that money over the lease period. Indeed, with the current BMW MF being equal to a 3% loan rate, you will likely lose money by putting in multiple security deposits: surely you should be able to earn at least 3% per year on your money by investing it something.
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11-27-2013, 12:16 PM | #53 | |
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Essentially, while you do not earn anything by parking your MSD with BMWFS, you save (in this example) ~$1400 over the 36 months. No brainer as far as I am concerned .... Last edited by NikonMan; 11-28-2013 at 09:49 AM.. |
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11-27-2013, 01:45 PM | #54 | |
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11-27-2013, 03:11 PM | #55 |
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i need to own my car....can't think of leasing...
after 2 years owning a X3...I needed money...so i sold it for only $14,000 lower than what I had purchased back in 2011... I sold my X3 to my own client but via dealership convenience trade, and saved another $6,000 on the taxes of the new ordered X5... I have a friend.. has leased a Mercedes...in need of money/hence can't pay the bills, is looking for someone to take over lease (11 months remaining)...holly s...t it's difficult!!! it's been 3 months on the market...not a sole interested... i sold my X3 in a week...cashed in...settled my debt...ordered a X5...saved additionally on taxes...I don't see any advantage had I leased the X3.... |
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11-27-2013, 10:37 PM | #56 | |
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11-28-2013, 07:35 AM | #57 | |
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So let me get something straight: in a lease scenario, let's say I put $10,000 down upfront. Would that 10k be balanced against the residual value at the end of the term? So let's say, if the car is worth $20,000 at the end of the lease term, I only pay $10,000 more? |
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11-28-2013, 09:44 AM | #58 | |
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11-28-2013, 01:36 PM | #59 |
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I just got a quote for a x5 diesel. Can you guys let me know what you think?
Price 69255 msrp 71000 term 36 mos rate .00076 residual .61 RES ADDS 2000 (Not sure what this is) Acq fee 725 MSD $5600 doc fee 80 pmt 855
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12-02-2013, 01:17 AM | #61 |
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First of all, it will be a wonderful car and no matter what you pay you will love it.
That said, many people on this forum are reporting getting the price on the non-diesels down to just $1,000 or even $500 over invoice. The deal you ask about here is a LONG ways away from that. And there is no reason to expect that the diesel will be "hotter" (and thus harder to get a good deal on) than the non diesel versions. Indeed, on the prior editions of the X5 diesel BMW has seen fit to give a $3,500 "eco credit" to all buyers, ostensibly to help them get make their federally-mandated fleet mileage targets but just as much because demand for the diesel in the US continued to be softer than in Europe. As for the leasing quoted, hard to judge here without a tad more info: how many miles per year? are you top tier credit worthy? by MSD do you mean multiple security deposits? and what the heck is the "res adds 2000" item? Again, not to worry in any case - it's only money, and the car will give you satisfaction way beyond it's price. |
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12-02-2013, 06:07 AM | #62 | |
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agreed !
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12-02-2013, 06:54 AM | #63 | |
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Leases are also a better tax advantage, if you're able to write it off as a business expense. |
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12-02-2013, 06:56 AM | #64 | |
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A timeshare can actually appreciate over time and it's a long term investment. An auto lease is simply paying for exactly the use you will get out of a car, for a set (and short) period of time. I guess you could say they're similar because both involve paying only for the portion you'll use. But one is an investment and one will never appreciate. Both have their advantages, but only if you use them for their intended purpose. |
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12-02-2013, 07:10 AM | #65 | |
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But I do agree if you need to liquidate, a lease isn't the best way to go. BMW has great lease prices because they have great residuals. High residuals won't help you if you want to get out early. That said, I tried to get out of our own X3 after two years because we wanted something bigger, and could have with only a $2k loss (dealer buyout 2k higher than trade-in price). Now 3 months later, I'll get out clean. |
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12-02-2013, 07:37 AM | #66 | |
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