10-01-2020, 08:02 PM | #45 | ||
Captain
577
Rep 648
Posts |
Quote:
Leasing we never pay to fix anything. Just tires and gas. |
||
Appreciate
0
|
10-01-2020, 08:14 PM | #46 | |
Colonel
1179
Rep 2,132
Posts |
Quote:
Even if you only keep the car 6 years, you’re still likely ahead of an average lease. You can do the math. Leasing is the most expensive way to drive a car. You’re essentially renting it. Now, you get a huge benefit. New car every 3 years, no maintenance, always driving the latest thing, etc...but you’re paying dearly for that privilege. If you buy an M5 and sell it in 3-5 years, leasing is better. But doing that would just be stupid. |
|
Appreciate
1
Swappy531.50 |
10-02-2020, 08:45 AM | #47 | |
Banned
3323
Rep 8,083
Posts |
Quote:
who the hell owns an m5 after 9 years? |
|
Appreciate
0
|
10-02-2020, 10:03 AM | #48 |
Colonel
1179
Rep 2,132
Posts |
Uh, I don’t have the data, but I’m sure some do? Like I said, buying a car isn’t going to make more sense than a lease if you’re selling in 3 years.
Lease versus buy has caveats. I stated them. If you flip cars every 3 or 4 years, you better have money to burn whether you buy or lease. Objectively, buying is cheaper if you drive cars any meaningful amount of time. |
Appreciate
1
Swappy531.50 |
10-02-2020, 05:45 PM | #49 |
Banned
407
Rep 2,704
Posts |
I probably will. with 5 cars in my stable 4 already paid off the M5 is next to be paid off. 2 years to go, done.
And imagine each car gets only 5-10K a year. different strokes, for different folks. And my company pays for it (expense). What do I lose Nothing. |
Appreciate
1
Swappy531.50 |
10-03-2020, 04:27 PM | #52 | |
Captain
472
Rep 892
Posts
Drives: 2019 M550i
Join Date: Aug 2018
Location: Tampa Bay
|
Quote:
What if you just like the car? My M550i has everything I've wanted in the past so I could honestly see myself owning it for the longest I've ever had a car. Have the expendable income to keep it alive and once I'm out of warranty I'm planning on taking the hit of losing my progressive discount benefits after nearly a decade to move to geico to get the maintenance/warranty perk. Last edited by Mach550; 10-03-2020 at 04:34 PM.. |
|
Appreciate
0
|
10-04-2020, 07:54 PM | #54 | |
Colonel
1179
Rep 2,132
Posts |
Quote:
You want a new car every 3 years and NO maintenance? By all means lease it...but it's costing you an insane amount of money to do it. You're paying for maintenance and the privilege to drive that in warranty car, too. Leasing isn't some financial "hack" no one understands. It's an alternative method to paying for transportation and an expensive one. |
|
Appreciate
1
Swappy531.50 |
10-05-2020, 02:53 AM | #55 |
Private
35
Rep 72
Posts |
One should remember that the residual values are usually massively inflated with BMWFS leases.
Resale value of a car and residuals being off by 10K on an M5 is not unheard off. This greatly lowers the depreciation you pay on the first 3 years of a car's ownership. The question is: Is (Depreciation in years 4-6+maintenance) lower than the (Depreciation in the first 3 years of a brand new car less the generous residual difference thrown in by BMWFS)? It probably is lower. The difference is what you pay to drive the latest and greatest technological marvels and also not having to worry about the car being at the dealer for fixing of any sort. For some it is worth it. But the difference is not as massive as most folks make it out to be. |
Appreciate
0
|
10-15-2020, 03:00 PM | #56 | |
Second Lieutenant
122
Rep 243
Posts |
Quote:
Ive never kept a car longer then 2-3 years in my life except for my wraith, all my BMWs are leased, my porsches and performante have all been purchased but i go in knowing i will only keep it 2-3 years and after my e90 m3 and RS4 i owned i will absoutely not own one of thee cars out of warranty, i dont want the expense or more importantly the hassle of dealing with breakdowns. 50% of BMWs are leased higher then any other brand on the market, most BMW owners also dont want the hassle of dealign with maintanance and have figured out a lease loses them less money then buying and selling every 2-3 years.
__________________
2020 M8 SMB full boltons and tune
2022 CT5-V Blackwing 2019 GT3RS full headers exhaust and tune 2022 Cayenne Turbo coupe Catless/ Tune 2022 Huracan STO |
|
Appreciate
0
|
10-15-2020, 06:41 PM | #57 |
Colonel
3581
Rep 2,382
Posts |
What does everyone think of CPO ? I typically buy only used and have had good luck with them. I initially said I was going new this time but I prefer the 18 or 19 because of the dash looking more analog. Mixed emotions about G80 because I am used of driving my 7 and am afraid I will miss the comfort.
I have a friend that is a certified BMW mechanic and praises the M5 and keeps my cars tip top shape.
__________________
Formerly Wyndi335I
2009 BMW 750li sold 14 BMW X5 04 BMW X5 11 BMW 335i convertible (sold, sellers market |
Appreciate
0
|
10-16-2020, 12:11 PM | #58 | |
Banned
3323
Rep 8,083
Posts |
Quote:
CPO is an excellent option imo. You get the warranty, and you get the car 2-3 years old with much of the money already gone already. I would never buy new. Lease or CPO only. |
|
Appreciate
1
JDUNITNOW3580.50 |
10-19-2020, 04:22 AM | #59 |
Private First Class
53
Rep 102
Posts |
There is a Danish saying: "It is expensive to use mahogany as firewood" - and the same goes for the M5, as to some it is just a very expensive 5 series.
This is my 4th M5 (E39, E60, F10) and depreciation is indeed brutal. I always buy second hand, so the first owner took a 75.000 euro hit. If you keep your cars slightly more long term, i.e 4 years at least, buying outright is still financially better. At the end of the day, an M5 is a luxury, not a necessity, and this is the price we pay to have a brilliant car, when a 520d (in Europe) would have done the A to B transport at a fraction of the cost. |
Appreciate
0
|
Post Reply |
Bookmarks |
|
|