There is much wisdom in the old saying: "A fool and his money are soon parted".

Can't wait for the Wall*E days when folks stop walking for themselves too....sigh....

EWL5 wrote

There is much wisdom in the old saying: "A fool and his money are soon parted".

Can't wait for the Wall*E days when folks stop walking for themselves too....sigh....

Yeah, those old wives tales about being smart with money were all written by people with no money. If this were some $5M home and I didn't firmly negotiate interest rates, hell yeah, you're right. But a $500 a month car? That's the equivalent of two mediocre dinners or tickets to a single ballgame, hardly worth fussing over.

Fonzie thinks I'm a fool because I may be overpaying $20 a month on a lease yet spent $15,000 cash on an engine and bodykit on a car that can never make him happy. I'm not the fool, I can assure you of that.

toddwalton wrote

EWL5 wrote

There is much wisdom in the old saying: "A fool and his money are soon parted".

Can't wait for the Wall*E days when folks stop walking for themselves too....sigh....

Yeah, those old wives tales about being smart with money were all written by people with no money. If this were some $5M home and I didn't firmly negotiate interest rates, hell yeah, you're right. But a $500 a month car? That's the equivalent of two mediocre dinners or tickets to a single ballgame, hardly worth fussing over.

Fonzie thinks I'm a fool because I may be overpaying $20 a month on a lease yet spent $15,000 cash on an engine and bodykit on a car that can never make him happy. I'm not the fool, I can assure you of that.

I just wanted to make it clear that your lease payment (of which I'm sure you know the majority is dependent on the residual value of the car) is not costing you Burger King money. The "cost to lease" for you is well over $100 per month. I don't want folks leasing for the first time seeing your prior statements and thinking it's super cheap to lease (it's not).

FS: BMW 21” Marky Mark wheels
Price is firm, I know what I got

EWL5 wrote

toddwalton wrote

Yeah, those old wives tales about being smart with money were all written by people with no money. If this were some $5M home and I didn't firmly negotiate interest rates, hell yeah, you're right. But a $500 a month car? That's the equivalent of two mediocre dinners or tickets to a single ballgame, hardly worth fussing over.

Fonzie thinks I'm a fool because I may be overpaying $20 a month on a lease yet spent $15,000 cash on an engine and bodykit on a car that can never make him happy. I'm not the fool, I can assure you of that.

I just wanted to make it clear that your lease payment (of which I'm sure you know the majority is dependent on the residual value of the car) is not costing you Burger King money. The "cost to lease" for you is well over $100 per month. I don't want folks leasing for the first time seeing your prior statements and thinking it's super cheap to lease (it's not).

Definitely, and good clarification for passersby reading this.

And as I'm sure you know, Leasing and Buying often put people in the same place financially because Buying is the winner only if a) you keep the car for 7+ years and b) don't have a single major repair costing more than ~$3,000 in the 7-10 years you'll own it.

The delta between the two options is a few grand and just not worth it to me. In a 10 year period I'll be in 4 brand new BMW's with $0 maintenance/repair expense and the person who buys will be in 1 old BMW with thousands in maintenance/repair expenses.

Last thing to point out is that if one has a good financial investment team, they can take that $70,000 cash a Buyer is going to give to BMW and turn it into plus thousands for the Leaser which can easily negate that $100 a month you refer to.

My take as an average consumer who currently has 3 BMW's and own two and lease one. The one I lease is my wife's, who doesn't even put that 4cyl x3 in sport mode. We purchased it after numerous x5's that were also leased. I lease because I don't want the hassle of dealing with trade in negotiation which has never really benefitted me and prefer a new veh every few years. I also don't want to purchase an extended warranty, maintenance plan, or have to deal with diminshed value negotiations should an accident occur. It works for me.

If I kept her vehicle long term as do my others I would absolutely purchase outright.I don't think there is a right or wrong answer as to which is better it's an individual choice based on each person's wants/needs. One could argue why each is better but I personally think both are acceptable it just depends and factoring in leasing vs buying at the 36/39 mo period is very, very close and for the ease I choose leasing but that doesn't make it right it's just what I prefer and it works.

Janjohn wrote

A few quick words: in this time of rising gas and petrol prices, my B58 has been getting 30mpg on daily drives in the East Tennessee hills, even with sporty acceleration. Gotta love it.

Cant agree more on this, and Summer time its even better. Absolute delightful experience.