[SBM1206]

Originally Posted by Kafkaesque328

Our combined monthly auto expense for both cars, insurance and gas is about 10% of our take home. Still feels like too much right now. It is definitely relative but all I know is that driving a BMW is doing nothing for building wealth.

Yeah, but there is only one life to live and it is very short.
An average person gets to drive twenty, maybe twenty five cars per lifetime.
I greatly prefer those to be BMWs not Jettas.

[Kafkaesque328]

Originally Posted by SBM1206

Yeah, but there is only one life to live and it is very short.
An average person gets to drive twenty, maybe twenty five cars per lifetime.
I greatly prefer those to be BMWs not Jettas.

Its hard to argue with this. Partly why I lease, because I can't see having the same car for 10 years, unless it was just something I really really loved and Ive yet to find that car yet, at least not in my budget

Reminds me of my uncle. He is a car guy but he's never had the money or wanted to deal with leasing so he buys used cars, car guy cars, old mustang 5.0, an old 740Li, an mX5, a bunch more. He keeps those for 3 years and changes up. So he is getting 'new to him' cars pretty often but they aren't new and he doesnt really sweat it. That seems appealing. I mean, if I got an E90 335i with 75k miles on it and just kept it 2-3 years, how much could really go wrong... right? Then I change up for something else.

[dsc888]

Originally Posted by SBM1206

Yeah, but there is only one life to live and it is very short.
An average person gets to drive twenty, maybe twenty five cars per lifetime.
I greatly prefer those to be BMWs not Jettas.

That is an interesting number. For reference, I got my first car when I was 22. (I got my license when I was 16 1/2 and didn’t need a vehicle due to living in a big city.) I plan on driving till at least 72 depending on my health. So in my personal situation, I have 50 years of enjoyment. I plan to enjoy every day of it so as long as I can do so safely.

[jmg]

Originally Posted by SBM1206

Yeah, but there is only one life to live and it is very short.
An average person gets to drive twenty, maybe twenty five cars per lifetime.
I greatly prefer those to be BMWs not Jettas.

Another reason I will be leasing cars. Owning a car for 6 hrs vs leasing every 3 years. You pay more, but you get to experience the joy of having twice as many cars in your lifetime.

[russtic]

I have tended to go for a pcp. This is finance with a balloon payment at the end. They guarantee that the residual value will be at least the balloon. You can then decide what you want to do at the end of the agreement. I find this more flexible than a lease as I can sell at any time.

[IAmATeaf]

Always owned outright, I like to keep the car for a few years and get my money’s worth 😀

[Fuller]

Originally Posted by Kafkaesque328

Its hard to argue with this. Partly why I lease, because I can't see having the same car for 10 years, unless it was just something I really really loved and Ive yet to find that car yet, at least not in my budget

Reminds me of my uncle. He is a car guy but he's never had the money or wanted to deal with leasing so he buys used cars, car guy cars, old mustang 5.0, an old 740Li, an mX5, a bunch more. He keeps those for 3 years and changes up. So he is getting 'new to him' cars pretty often but they aren't new and he doesnt really sweat it. That seems appealing. I mean, if I got an E90 335i with 75k miles on it and just kept it 2-3 years, how much could really go wrong... right? Then I change up for something else.

You might not be 100% serious here, but you'd be going from a brand new car every few years to a new-to-you shit box every few years. That's perfectly fine for those who've always driven old cars, but for you, getting some old , lived-in bmw is going to be a huge downgrade.

I went through a phase where I was intent on buying an old car to have fun with. I looked mostly at old e92 m3s. You think, "well cared for used cars aren't so bad." The trouble is an old car with 70k+ miles is nothing like a gently used peach of a cpo that's a couple or few years old with 25k or less on the odometer. I remember sitting in some of the old 80k mile gems I found, and feeling like I was in someone else's space. The seat has an ass groove worn into the leather that you can't ever seem to settle into despite adjusting the seat 50 ways and wiggling around like a hyper-active child. Then there's the old car smell - a cacophony of b.o., cologne, perfume, garlick breath, and Big Macs. Also, don't forget about the old worn steering wheel. You'll be sitting there with your hand on that sticky wheel just envisioning the previous owner (who'll resemble Jubba-the-hut) sitting where you are eating a big greasy hamburger, licking his fingers before grasping the wheel. Meh, no thanks!

If you don't feel like the cost of buying or leasing a new, or gently used premium marque is worth the cost, just go with a new or gently used honda, vw, or whichever make you prefer. That'll be an adjustment too, but it's better than going from driving a brand new bmw to an old, high mileage car.

[eluded]

BMW leases last three years. Their warranties are four years.

Thus, you can pick up a three-year-old BMW with about 30,000 miles on the clock for 40% off of MSRP or more with a warranty. Sounds like a good deal to me.

[eluded]

Originally Posted by LMK5

eluded, is Grigor Dimitrov a huge star in Bulgaria?

Da

[bad karma]

Bought mine as a dealer service loaner. 5,000 miles and 3 months old, but CPO with that 100,000 mile warranty.

[Kafkaesque328]

Originally Posted by Fuller

You might not be 100% serious here, but you'd be going from a brand new car every few years to a new-to-you shit box every few years. That's perfectly fine for those who've always driven old cars, but for you, getting some old , lived-in bmw is going to be a huge downgrade.

I went through a phase where I was intent on buying an old car to have fun with. I looked mostly at old e92 m3s. You think, "well cared for used cars aren't so bad." The trouble is an old car with 70k+ miles is nothing like a gently used peach of a cpo that's a couple or few years old with 25k or less on the odometer. I remember sitting in some of the old 80k mile gems I found, and feeling like I was in someone else's space. The seat has an ass groove worn into the leather that you can't ever seem to settle into despite adjusting the seat 50 ways and wiggling around like a hyper-active child. Then there's the old car smell - a cacophony of b.o., cologne, perfume, garlick breath, and Big Macs. Also, don't forget about the old worn steering wheel. You'll be sitting there with your hand on that sticky wheel just envisioning the previous owner (who'll resemble Jubba-the-hut) sitting where you are eating a big greasy hamburger, licking his fingers before grasping the wheel. Meh, no thanks!

If you don't feel like the cost of buying or leasing a new, or gently used premium marque is worth the cost, just go with a new or gently used honda, vw, or whichever make you prefer. That'll be an adjustment too, but it's better than going from driving a brand new bmw to an old, high mileage car.

I must say this is a great point, which is probably why I never do it. The first several cars I had in my life, before I bought my first newish car in 2000 (a CPO Toyota Tacoma) were used with at least 80k miles on the clock. At no point were any of those vehicles not causing me trouble and nickel and diming me, and that was all Japanese cars - mainly Hondas and Toyotas.

I haven't driven an 'old' car since like 2008, not sure I can go back. So yeah, I guess some CPO if I'm going to buy again. I do like the F30 328 platform just fine and if I really didn't care and just wanted to stay with the brand 'on the cheap', there will be 2015 ho hum 328's going for very, very low $20k range. That'd be my buying a car budget - $20k, so something like this:

https://www.pacificbmw.com/vehicle-d...ca-id-20800946

That way I can still have a decent amount of power, RWD and wouldn't have to feel like some sort of pleb when I pull up to the valet.

[ruiatalmeida]

Originally Posted by yoon_209

I've been seeing a lot of people in this forum talking about their leases.

How many of you guys own your F30 or leasing it?

I've always considered leasing but it just doesnt seem practical as your are not building any equity.

If you are leasing, why did you choose this route over owning?

I buy, ex-leasing, normally they have only 3 years, not many Kms , they come with summer and winter tyres (compulsory in Germany) and have any possible recalls done. Also, they are very cheap in Germany, specially the diesels now everyone is scared of driving bans for diesel.

[Kafkaesque328]

This poll is interesting because there are many more that buy. So is it safe to say that more 'enthusiasts' buy vs. lease and that is why this is skewed that way. It is a fact that BMW has the highest lease rate with something like 64% of all new BMWs being leased. I know very few people who actually purchase these cars new.

[JG_Coupe88]

Own but plan on leasing my next (M2? M4?).

[youngdoc1]

Originally Posted by 5ilver-5amurai

I would always lease a luxury car before buying it out right. With aggressive interest rates, the difference between owning and leasing ends up being like 1k to 2k more if you decide to buyout your lease. If anything happens to the car during the term of the lease that would reduce its value, I don't buy it out. You're basically buying the ability to dump a car after your lease. I don't consider any asset that depreciates truly an asset...

This is exactly why I did what I did this time. Leased a 2016 340i with plan to buy it out at end if all goes well. I figure if I have an accident or if the B58 turns out to be problematic, I can just turn the keys in and walk away without hassle. This really is a good set up for me.

I don't think I'll lease again in the future though... Will likely just pay cash for a new or CPO.

[jmg]

Originally Posted by Kafkaesque328

This poll is interesting because there are many more that buy. So is it safe to say that more 'enthusiasts' buy vs. lease and that is why this is skewed that way. It is a fact that BMW has the highest lease rate with something like 64% of all new BMWs being leased. I know very few people who actually purchase these cars new.

Conduct the same poll in the M3/4, M5, M6, i8, i3, i8, 6 series, and 7 series and you will get a very different response. There are more CPO and leased instances there I bet simply because the depreciation is much higher on the more expensive cars. You also get more people who can write these cars off, which makes leasing more attractive.