'09?

 

Well, people that lease fall into three basic categories.

1. Idiots.
2. People that don't care about "throwing away" money.
3. People that want a more expensive vehicle, but cannot afford a loan payment.

Justify it however you want. Leasing is just plain back-asswards. Half the people in this thread have tried to steer you away from the idea, but I can see you've already made up your mind.

 

You misunderstood the point of this thread. I did not ask fot advice on whether to lease or buy, but to put out the monthly payment I am hoping to secure on this particular lease. After deliberating the pros and cons of leasing with family members and colleagues who have extensive knowledge about financial contracts and services, I determined that leasing is the option that best suits my needs. I realize common belief is that leases are for "idiots" or those that "waste money", but I humbly disagree with those assessments. Vehicles depreciate rapidly, and I prefer not to pay a premium (interest) to finance an asset that will never appreciate in value. Especially a vehicle whose costs to operate increase once the manufacturers warranty has expired. Instead, I see a vehicle as a luxury item with monthly expenses whether that's a lease payment, loan payment, repairs, and etc.

My goal, is to make my monthly vehicle expense as low as possible, and earn interest on the cash savings. An ideal situation would be to purchase a car in cash, anticipating annual maintenance costs and lost interest income would be less than lease or loan payments plus interest income. But any vehicle I could comfortably pay cash for at this time (without liquidating my entire house saving fund) would likely have high maintenance costs. With that option eliminated, it comes down to the decision of purchasing a new or used car with financing, or leasing a new car. Both purchase options would give me a monthly payment higher than leasing, and have additional maintenace costs after 3-4 years. Leasing is less expensive, has free maintenance (from BMW only), and fits well within my budget allowing me to tuck more cash away for my house. Also, I don't drive cars into the ground. I get bored after a few years and want a new one.

 

If your job requires you to have a car and do a lot of driving, leasing isn't too bad of an option as you can write a lot if not all of it as business expense. You also aren't stuck with a high milage car when you're done with it.

 

lol funny thread

 

i've put almost 95,000 miles on my car, and i've had it for just over 5 years. that's 19K/year. i don't even know where i drive to.

 

now ur being an idiot too.

 

damn some joo guys barely drive at all

first year i had my alero i put almost 30k on it ... i got rid of it after that one year too ... good car, killed it with miles

 

I would not purchase a BMW new.

But that's just me. Leasing isn't a bad idea.

 

you had me at alero, :chuckles: