Quote:
Originally Posted by AHall
I think once you enter this price point for a car logic is out the window. How is it logical to have a never ending car payment because you want to drive cars you believe are unreliable and are afraid to own it past the warranty. Just get a four cylinder corolla and through your cares to the wind and keep your dollars. Is that not more sensible? So why do people try to make others believe their decision to lease a car decade after decade is sensible? None of this is a sound financial decision so why try to pass it off as such?
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I completely agree. I purchased mine. $115000 Out the door. This lease example from another thread just today is why:
2021 m5 comp lease quote (sf bay area)
quote i just received for a 3y, 10k mile per year lease:
configuration:
https://www.bmwusa.com/build-your-ow...i28ass/summary
msrp $113,095
selling price $106,309 (6.1% off msrp) before $1250 lease/loyalty incentive
money factor = 0.00082
residual = 59%
$1625 drive off
$1232 plus tax = $1343 per month
So with this lease you are basically renting your M5 for three years at a total cost of $49973 including down payment. Your also capped a 10K miles a year. So $50K rental for three years (unless you like your M5 and enjoy driving it a lot, then its even more $$$.)
I figure my car will depreciate that same $50K in three years, maybe even more, So lets say $55K. I think my car will bring $60K in three years, especially as anal as I keep my stuff if I decide to sell it. But I just have this thing about owning my shit, driving it the way I want to, taking care of it, doing a few simple mods, putting on as many miles as I want to (or don't) without watching the ODO all the time and not having to return it at a certain time if that timing does not fit into my lifetime criteria right then. (who the hell knows where we will be in three years with this Covid thing, hopefully done with it, but.....) So to me its pretty much a wash and I go for the comfort factor of owning my car. And honestly I usually want something different in less than three years so my eyes are always open to a change/upgrade, (M8GC). Changing cars in the middle of a lease is just a bit more difficult than most folks think it is. YMMV.
And again at this price point there is no logic for us M5 owners, But I sure love my car! So you can't go wrong either way with such a fine car as the M5 is. Just my 2 cents worth....