To lease or not to lease

clairvoyant · 11-06-2007, 08:05 PM

As you folks already know I am currently financing 2006 BMW 323i.
This afternoon, a BMW dealer in Toronto sales specialist contacted me about a lease deal on 2007 BMW 328xi with the following features:
-xenon headlamps
-fog lights
-dual automatic climate control with ventilation to the back
-better alloy wheels
-4 years of complimentary scheduled maintenance
-fold down rear seats
-headlight high-pressure washer system
-chrome exhaust tips
-auto dimming interior mirror
-HiFi 10 speaker sound system, including 2 subwoofers underneath the front seats.

They offered me a 39 month lease-to-own at 4.9% 39000km total for $580/month.
No down payment, no nothing [supposedly]. Basically, I will drop my 2006 323i sign some papers, and drive the 2007 328xi.

I need your wise opinions, comments, and wisdoms.
What do you think? Deal or dud? Why?

Thank You

ehhhwik · 11-06-2007, 09:18 PM

thats not a bad deal, but you still have to pay the security deposit, and i think the first month's payment before you can drive the car off the lot, you have to PAY!

who's ur daddy? · 11-06-2007, 10:25 PM

Only 12,000km allowance per year? Sounds too low to me, but maybe you don't commute much.

spacedogg · 11-06-2007, 10:35 PM

Quote:

Originally Posted by who's ur daddy?

Only 12,000km allowance per year? Sounds too low to me, but maybe you don't commute much.

+1

That would be way too low for me...

Otherwise sounds good.

Zeeman · 11-06-2007, 10:56 PM

You can't really assess whether it's a good deal without also considering what, if any, equity is there in your existing 323. For example, if it is worth 33K, and you owe 28K, on it then you're effectively giving BMW a $5k down pmt.

fizzerd · 11-06-2007, 10:59 PM

Quote:

Originally Posted by clairvoyant

As you folks already know I am currently financing 2006 BMW 323i.
This afternoon, a BMW dealer in Toronto sales specialist contacted me about a lease deal on 2007 BMW 328xi with the following features:
-xenon headlamps
-fog lights
-dual automatic climate control with ventilation to the back
-better alloy wheels
-4 years of complimentary scheduled maintenance
-fold down rear seats
-headlight high-pressure washer system
-chrome exhaust tips
-auto dimming interior mirror
-HiFi 10 speaker sound system, including 2 subwoofers underneath the front seats.

They offered me a 39 month lease-to-own at 4.9% 39000km total for $580/month.
No down payment, no nothing [supposedly]. Basically, I will drop my 2006 323i sign some papers, and drive the 2007 328xi.

I need your wise opinions, comments, and wisdoms.
What do you think? Deal or dud? Why?

Thank You

Firstly, never heard of something like "lease to own" for a Bimmer.?

Secondly, the interest rate should be 3.9% because its an '07 model. I know that because I got a 328i lease a few weeks back with 3.9%.

Sounds like a good deal. My payment is for a 328i for $610 but then I have the premium package.

chromerl · 11-09-2007, 08:18 PM

Quote:

Originally Posted by Zeeman

You can't really assess whether it's a good deal without also considering what, if any, equity is there in your existing 323. For example, if it is worth 33K, and you owe 28K, on it then you're effectively giving BMW a $5k down pmt.

I agree, you need to asses the amount of equity in your car, by opting for this deal your effectively losing all built equity in the 323i (whatever it may be) $580 a month looks good, hopefully 12,000km a year is a non-issue for you

clairvoyant · 11-14-2007, 07:30 PM

Can you get out of a lease contract???
Hypothetically speaking, my lease term is 36 months and I decide that I want to trade it in with a BMW 535xi 2 years down the road or something bigger better and catchier than 328i.
Or maybe a KIA

since they have 250,000 km warranty with generous discounts and their sales people and dealers are not such snobs and high almighty like BMW dealers.

Thanks for the inputs, folks.

Yvette · 11-14-2007, 09:10 PM

Quote:

Originally Posted by who's ur daddy?

Only 12,000km allowance per year? Sounds too low to me, but maybe you don't commute much.

too less to drive.... I think I drive normal but I already have 29000KM and it's been 1 year and 2month so far...

aspiring335 · 11-14-2007, 10:54 PM

I vote for dud. Why would you do this rather than sell your 323i, pocket the equity and negotiate a better deal for a lease if that's what you want to do?

Those extra toys in the 328i don't do anything for the driving experience (you already have a great car that handles just as well as the 328i, it's just a little less powerful). Not to mention that the extra weight of the xi means it really won't feel much faster.

alanchan · 11-14-2007, 11:24 PM

do you have to make a lump sump payment to buy out the car when the 39 month lease time is up?

Lazzer · 11-14-2007, 11:41 PM

The best way to take adavntage of a lease is if you can write it off otherwise why rent a car. Just my opinion.

mekeni · 11-16-2007, 10:04 AM

Quote:

Originally Posted by Lazzer

The best way to take adavntage of a lease is if you can write it off otherwise why rent a car. Just my opinion.

What he said

11-06-2007, 08:05 PM	#1
clairvoyant Major 79 Rep 1,032 Posts Drives: Bavarian Manure Wagon (BMW) Join Date: Oct 2007 Location: 45°19′20″N, 75°50′0″W iTrader: (5) Garage List 2007 335i [5.24]	To lease or not to lease As you folks already know I am currently financing 2006 BMW 323i. This afternoon, a BMW dealer in Toronto sales specialist contacted me about a lease deal on 2007 BMW 328xi with the following features: -xenon headlamps -fog lights -dual automatic climate control with ventilation to the back -better alloy wheels -4 years of complimentary scheduled maintenance -fold down rear seats -headlight high-pressure washer system -chrome exhaust tips -auto dimming interior mirror -HiFi 10 speaker sound system, including 2 subwoofers underneath the front seats. They offered me a 39 month lease-to-own at 4.9% 39000km total for $580/month. No down payment, no nothing [supposedly]. Basically, I will drop my 2006 323i sign some papers, and drive the 2007 328xi. I need your wise opinions, comments, and wisdoms. What do you think? Deal or dud? Why? Thank You
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11-06-2007, 09:18 PM	#2
ehhhwik Brigadier General 114 Rep 3,431 Posts Drives: 09' BMW 335d, 07' BMW E92 328i Join Date: Oct 2006 Location: Vancouver, BC iTrader: (5)	thats not a bad deal, but you still have to pay the security deposit, and i think the first month's payment before you can drive the car off the lot, you have to PAY! __________________ Current: 09' E90 335d - Titanium Silver/Black Leatherette/Sports Package/6AT Paddle Shift/USB Integration/19" Staggered Breyton GT Gloss Black Retired: 07' E92 328i (Jet Black)
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11-06-2007, 10:25 PM	#3
who's ur daddy? Colonel 133 Rep 2,904 Posts Drives: Canada's first and only 323xi Join Date: Aug 2007 Location: Mind Your Own Fkin Business iTrader: (3)	Only 12,000km allowance per year? Sounds too low to me, but maybe you don't commute much.
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11-06-2007, 10:56 PM	#5
Zeeman Captain 56 Rep 661 Posts Drives: E90 335 SG Join Date: May 2007 Location: Vancouver iTrader: (0)	You can't really assess whether it's a good deal without also considering what, if any, equity is there in your existing 323. For example, if it is worth 33K, and you owe 28K, on it then you're effectively giving BMW a $5k down pmt.
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11-14-2007, 07:30 PM	#8
clairvoyant Major 79 Rep 1,032 Posts Drives: Bavarian Manure Wagon (BMW) Join Date: Oct 2007 Location: 45°19′20″N, 75°50′0″W iTrader: (5) Garage List 2007 335i [5.24]	Can you get out of a lease contract??? Hypothetically speaking, my lease term is 36 months and I decide that I want to trade it in with a BMW 535xi 2 years down the road or something bigger better and catchier than 328i. Or maybe a KIA since they have 250,000 km warranty with generous discounts and their sales people and dealers are not such snobs and high almighty like BMW dealers. Thanks for the inputs, folks.
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11-14-2007, 10:54 PM	#10
aspiring335 Lieutenant Colonel 95 Rep 1,614 Posts Drives: 2019 G05 40i Join Date: May 2006 Location: Toronto, Canada iTrader: (0) Garage List 2006 330i [0.00]	I vote for dud. Why would you do this rather than sell your 323i, pocket the equity and negotiate a better deal for a lease if that's what you want to do? Those extra toys in the 328i don't do anything for the driving experience (you already have a great car that handles just as well as the 328i, it's just a little less powerful). Not to mention that the extra weight of the xi means it really won't feel much faster. __________________ 2019 G05 40i (premium excellence, m-sport, 2VR), Tesla Model S 100D, Nissan Leaf SL Volvo XC90 T8, Subaru Outback, E84 X1 28i, E91 328i xdrive, 6MT, VW Touareg TDI, E90 330i, E46 325iT, MINI Cooper S (all retired)
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11-14-2007, 11:24 PM	#11
alanchan Major 72 Rep 1,402 Posts Drives: 2006 323i Join Date: Jul 2006 Location: Vancouver, BC, Canada iTrader: (21)	do you have to make a lump sump payment to buy out the car when the 39 month lease time is up? __________________ 323i, Arctic metallic , Cream beige leatherette interior , Titanium matt trim , Premium , Auto , 18" style 189 sport wheels , 335i bumper + kidney grills, CF pillars, Chrome window trim package , LCI halogen.
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11-14-2007, 11:41 PM	#12
Lazzer The Specialist 5 Rep 336 Posts Drives: E90/335i, E70/4.8 Join Date: Aug 2007 Location: Vancouver, BC iTrader: (1)	The best way to take adavntage of a lease is if you can write it off otherwise why rent a car. Just my opinion.
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