Quote:
Originally Posted by nzafi
Folks,
I am very close to pulling the trigger on a M2C and I was 99% sure that I was going to finance the car due to the fact that lease payments would have been $1000-1100.
However, it looks like BMW is currently offering a money factor of .00099 which ~2.5%. This is crazy low. Additionally, I am in NJ which means I can do MSD which would then bring the money factor down to about 1.5%.
When you considering this low of a money factor, if you find a deal on a car you can get the lease payments in the low $800s and maybe even high $700s depending on what you like to pay upfront.
In comparison to financing, you will save a couple grand on interest , unless BMW decides to bring back the 0.9% financing.
I am using to leasing my cars, but M2C is definitely something I see potentially holding onto for more than 3 years. When I do the numbers it literally seems like its better to do the lease and then buy versus to just finance from the start. I get the added benefit of dropping the car after 3 years if I want.
I have never done a lease buyout, so I am curious if there is something I am missing here or some sort of hidden fees. To me, if the buyout is tied to the residual of 53%, the car could be a steal to buyout at lease end. If it isn't you just move on.
Thoughts or considerations?
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You'd be paying a $925 lease acquisition fee that doesn't apply when financing. Finance rate is only 1.9%.