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      09-18-2020, 04:07 PM   #8
jhall1957
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Drives: SE 46
Join Date: Feb 2009
Location: WS,NC

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Quote:
Originally Posted by medphysdave View Post
Quote:
Originally Posted by jhall1957 View Post
I'm a big advocate of leasing new cars. I like the fact that if the car gets wrecked and has substantial damage you have the third option which is turning it back in to the dealership. So unlike buying it out right where you can either keep it forever or sell it and take the beating on the damage you have that third option.

Pretty much every scenario I've seen comparing leasing to buying comes out very close in the long run. And if the car holds it it's value or appreciates in value, it's even a better deal!

I have the funds to buy the car out right for cash, but like I said I like reserving that third option to dispose of the car if it either suffers substantial damage or ends up being a dog!
My thoughts. The m2 has been a historically poor lease candidate. I'm a fan of leasing. I think it is normally the way to go for luxury cars. Off the cuff rule of thumb for a great lease is monthly payment @ or less than 1% of MSRP with no money down other than 1st month payment, doc fees, etc.

Finance rates right now put you in a better position. The 0.9% may push over to the CS for 60mo. If not 1.9% is easy to get at credit unions. A 72mo loan puts you on par with a lease when using a residual that approximates the other CS models. Be mindful that BMW uses a residual value that is about 10% higher than what the actual will be at the end of the lease.

No way in hell I'd pay for a car in cash with fiance rates as low as they are. Do not do it!

If anyone questions my lease Fu. My last lease had a 138k MSRP and my payment was $840/mo 33/10. Leasing is way cheaper than buying if you aren't picky about what you drive. I don't care if you own a car for 10yrs, I'll still lease 3 cars for the same cost or less and take into account any value you may still have in the car. Now,if you want to buy a 4yo car and then keep if for 10yrs you might win on cost, but not on tech, safety updates, and driving a newer car.

On a rare car like this you'll have to fight for diminished value, and it isn't easy. Leasing is great in this area because you don't have to care how an accident impacts value.

Edit: I'm buying this one.
Good point on interest rates being so low. I just hate having the debt. Plus, no way to beat the idea of "just handing it back in" to the dealership.

I'll have to get closer to the delivery and then see what is available from BMWFS and a credit union locally.
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Garage; 2020 Raptor, 2011 1M, 2017 M2 PE, 2006 Z4 MC, 2007 Z4 MC, 2001 Spec E46, 2007 GT3
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