01-31-2013, 09:06 PM | #23 | |
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Although, I must say I didn't even think about a used car. Used car 3-4 years old is probably the best deal since you're getting a relatively new car without all that horrible depreciation of the first few years of a new car. I was just bringing up the differences between leasing and purchasing. If you lease cars for 10 years versus buying 1 car for 10 years then buying another, it only makes financial sense to buy it. Personally, I plan to keep this car until it no longer runs. We'll see how long that is, hopefully it's more than 10 years |
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01-31-2013, 09:13 PM | #24 |
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My logic is that my 328ix is exactly the car I want - I see nothing else preferable (at any price) for my needs. Right size, plenty of pep, good mileage for my conscience, Consumer Reports calls reliability great, luxurious, very safe, looks good, and has most of the electronic gadgets that seem useful.
Luckily, I can afford it. If I were buying next year, perhaps the best car would change. Last edited by JohnVidale; 01-31-2013 at 11:46 PM.. |
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02-01-2013, 03:29 AM | #25 |
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I believe I got a good deal on mine, it's a December 2012 335i m sport with pro nav and a good spec, pre registered brand new the list price was £45000 and I paid £31800, even though I think I got a good deal I know I'll still feel financial pain when I come to sell!
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02-01-2013, 08:16 AM | #26 |
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I think this is the problem when BMW financial makes it so cheap to lease new vehicles. It creates a huge supply of used vehicles and hence supply is greater than demand for used BMW's and any other brand that has cheap leases.
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02-01-2013, 08:30 AM | #27 |
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You have it backwards. The leases are cheaper because of higher residual values. Economics 101.
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02-01-2013, 08:42 AM | #28 | |
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I see. Yeah, from my seat of pants, feels as fast as my Evo, which was clicking off quarters, with descent shifts, in the 13's.
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02-01-2013, 08:45 AM | #29 |
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Regarding leasing versus financing, I run my own business and actually write off the loan payments...with the mileage I place on the car, the lease option would almost be similar in monthly payments...
Unsure what's financially better or not, but my loan is 6 years, warranty is 6 years - if I'm not squeaking and having issues at that point, I'll keep on driving the 335i. I was just surprised that when BUYING a $50k car, it essentially depcreciates $10k a year per 20k miles I put on it...
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02-01-2013, 08:55 AM | #30 |
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Two weeks ago, I sold my 2006 Honda Accord (7 years old) to a dealer (not trade, cash sale) for $9500. The MSRP on the Honda was about $26K, and mine had a few dents. That is ridiculous that BMWs depreciate so much over the same time period.
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02-01-2013, 08:59 AM | #31 | |
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I mean, it REALLY HAS TO BE the Ultimate Driving Machine in order to justify the insanity. Regardless, when I traded in my Evo VIII for the TSX, I was depressed and underwhelmed with the driving experience. The most difficult 50,000 miles I have driven in 20 months. When I traded in the TSX for the BMW (mind you I made $2,000 profit off of the trade in, go Acura!), I've only had smiles when driving the car since. I feel like the cost of maintenance on the BMW must add to the depreciation value...
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02-01-2013, 09:00 AM | #32 | |
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02-01-2013, 09:09 AM | #33 | |
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I don't even think you can lease a used vehicle, but the leasing posts are most prevalent, therefore, we're back to the lease vs buying discussion. I don't care either way, people do what makes them happy, plus we're all financially dumb for buying a BMW, otherwise we'd all have Toyotas which hold their value the best. |
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02-01-2013, 09:17 AM | #34 |
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02-01-2013, 09:46 AM | #35 |
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I think the car in the test if the Modern Line, that means no sport suspension.
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02-01-2013, 09:57 AM | #36 |
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Interesting, I sold my FX4 F-150 for $12k trade in at the dealer for my 335. I'm sure I couldve gotten around $15k private. It MSRP'd $37k, I forget what I paid for it though, probably around your $33k though. It was also 7 years old when I traded it in, but I "only" had 82k miles.
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02-01-2013, 10:07 AM | #37 | |
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02-01-2013, 11:35 AM | #38 |
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I've been driving an E32 750iL for the last 8 or so years that I bought for $600. Original sticker was north of $80k. I don't mind being on that side of the curve.
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02-01-2013, 11:45 AM | #39 | |
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02-01-2013, 11:50 AM | #40 | |
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For now..
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02-01-2013, 12:37 PM | #41 |
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That's what I am doing as my business partner and I are forming an LLC. Win!
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02-01-2013, 01:29 PM | #42 |
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Yeah check out the Top Gear episode where they do forensics on used cars, and find boogers, feces, blood, scabs, skin and semen amongst other things.
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02-01-2013, 02:12 PM | #43 | |
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02-01-2013, 06:52 PM | #44 |
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That residual is about right for a 5 year old car with what will likely be 80,000 miles. Remember residual is not based on retail value it is based on a wholesale value. My 06 330i at 5 years was worth less than that if you look at wholesale, the retail was about 16k.
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