Lease or Purchase

sunking420 · 05-12-2008, 07:28 PM

Waiting on a check for a bigger downstroke. Went to dealership today(My baby is on the showroom floor with a 4door M3, a vert 645i, and an X6)and tried to put $15k on my credit card and pay off when check comes in 1 to 3? days. I figured I was driving off the lot today, as the car is at the dealership since Thursday(5 days). They would only go as high as $3k on credit card even though I have a $21k limit. Long story short, my sales guy, who's been A1 all the way says the money man wants to talk to me. I go in his cubicle, and he starts saying a lease will get it out the door. I've never leased a car before, and am hesitant if this is the right way to go. Told him I'll sleep on it. Pros and Cons with both. Any opinions? I leaning with waiting on the check( told the salesman, "My car goes nowhere, I'm coming soon with a total of $26k, on a $39k and change purchase. Really confused. I'm a realtor, and normally this would be a no-brainer, if market was right it would be a total tax write-off. Any help would be greatly appreciated. Thanks ahead of time to any here whom could give me an educated opinion. I trust you guys ! ! !

JohnnyTT · 05-12-2008, 09:01 PM

Well, one thing I hate about leases, the whole turn-in process. It's a bit of a pain.

IMHO, the only time to lease a car is if you really want a car that is a bit out of your buying price league and you are not a heavy mileage driver.

Unless you get some AMAZING lease numbers, I tend to think buying works out more in your favor in the end.

When you buy:
1) It's your car, do what you want with it
2) Drive it as much as you want
3) If you put low miles on it, it can/will usually work out better for it's resale/trade-in value. You will usually spend more on a low mileage lease, than buying and selling a low-mileage car.
4) You own a vehicle that you can always decide to keep for years to come, or just trade into a new car. After one car, trading and buying every car forward will tend to be cheaper and easier.

I've bot and leased, the leases only worked when I wanted something beyond my buying means.

05-12-2008, 07:28 PM	#1
sunking420 First Lieutenant 12 Rep 334 Posts Drives: '08 SGM 135i Join Date: Dec 2007 Location: Flagler Beach, Florida iTrader: (0)	Lease or Purchase Waiting on a check for a bigger downstroke. Went to dealership today(My baby is on the showroom floor with a 4door M3, a vert 645i, and an X6)and tried to put $15k on my credit card and pay off when check comes in 1 to 3? days. I figured I was driving off the lot today, as the car is at the dealership since Thursday(5 days). They would only go as high as $3k on credit card even though I have a $21k limit. Long story short, my sales guy, who's been A1 all the way says the money man wants to talk to me. I go in his cubicle, and he starts saying a lease will get it out the door. I've never leased a car before, and am hesitant if this is the right way to go. Told him I'll sleep on it. Pros and Cons with both. Any opinions? I leaning with waiting on the check( told the salesman, "My car goes nowhere, I'm coming soon with a total of $26k, on a $39k and change purchase. Really confused. I'm a realtor, and normally this would be a no-brainer, if market was right it would be a total tax write-off. Any help would be greatly appreciated. Thanks ahead of time to any here whom could give me an educated opinion. I trust you guys ! ! !
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05-12-2008, 09:01 PM	#2
JohnnyTT Captain 29 Rep 750 Posts Drives: 2011 X3 3.5 Join Date: Apr 2008 Location: East Coast iTrader: (0)	Well, one thing I hate about leases, the whole turn-in process. It's a bit of a pain. IMHO, the only time to lease a car is if you really want a car that is a bit out of your buying price league and you are not a heavy mileage driver. Unless you get some AMAZING lease numbers, I tend to think buying works out more in your favor in the end. When you buy: 1) It's your car, do what you want with it 2) Drive it as much as you want 3) If you put low miles on it, it can/will usually work out better for it's resale/trade-in value. You will usually spend more on a low mileage lease, than buying and selling a low-mileage car. 4) You own a vehicle that you can always decide to keep for years to come, or just trade into a new car. After one car, trading and buying every car forward will tend to be cheaper and easier. I've bot and leased, the leases only worked when I wanted something beyond my buying means.
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