Leasing a Bimmer...1st timer help

Looking to lease a 2014 328i. Going to trade in my 2008 impala and also my brother works for the dealership, so a little better discount I will recieve on the car.

If I was to purchase a car it would be a 2014 Honda Accord and that's if I am not feel the leasing numbers. My car has been getting me trouble lately and want to get rid of it before something major happens.

I just want to be prepared for when I sit down. Was talking with the dealer yesterday(just some touch bases information while I was visiting my brother) and he was saying he believes he can get me payments around $400 a month.
 
Assets aren't required to make you money, they only have to offer future economic value. If your car that you own ends up having a trade in value of $100, it is an asset because of this future economic value.
 
On the whole leasing v financing debate, I'm gonna copy something from another forum...

"Leasing is really just another form of finance but it has more options... I just thought that it might be interesting to get another perspective.

With a lease you make your payments over three years and at the end you have three options; all driven by the residual (buyout price at the end of the lease). 1 - sell the car to a 3rd party and pocket the profit (do this if the residual is lower than the value of the car). 2 - buyout the car and keep for yourself (do this if the residual is lower than the value of the car or you simply want to own the car). 3 - turn it in and walk away (do this if the residual is higher than market price, or you got in an accident and don't want to keep the car).

With a loan (would need to be 7+ years to have a similar payment) you make your payments for three years and are still left with a loan outstanding. No different than the residual amount in a lease. The only difference is that you don't have the option to hand the keys back! A lease actually gives you more options.

For those that are concerned about going over mileage... You have the same issue on a purchase. Higher mileage will reduce the value of the car. You may be upside down on your loan due to the higher mileage. With a lease they make you pay for the lost value due to higher mileage (if you turn in the car and walk away). You still have the option to buyout the lease and refinance with a loan at the end. With a loan you either pay for the loss in value when you sell it or continue to pay on your loan... I don't see a ton of difference there - except that with a lease you can more easily just hand back the keys.

With a lease you can buy it out at any time. You are not trapped in a lease. The buyout amount is no different than a loan outstanding. You need to pay off your loan to sell your car. You have to pay off your lease if you lease the car. "

if you want the lowest rate, email my dude David Aviles [email protected]

He can get you the cheapest price and is an enthusiast as well. He got me into my M.
 
nikeXcartoon said:
On the whole leasing v financing debate, I'm gonna copy something from another forum...

"Leasing is really just another form of finance but it has more options... I just thought that it might be interesting to get another perspective.

With a lease you make your payments over three years and at the end you have three options; all driven by the residual (buyout price at the end of the lease). 1 - sell the car to a 3rd party and pocket the profit (do this if the residual is lower than the value of the car). 2 - buyout the car and keep for yourself (do this if the residual is lower than the value of the car or you simply want to own the car). 3 - turn it in and walk away (do this if the residual is higher than market price, or you got in an accident and don't want to keep the car).

With a loan (would need to be 7+ years to have a similar payment) you make your payments for three years and are still left with a loan outstanding. No different than the residual amount in a lease. The only difference is that you don't have the option to hand the keys back! A lease actually gives you more options.

For those that are concerned about going over mileage... You have the same issue on a purchase. Higher mileage will reduce the value of the car. You may be upside down on your loan due to the higher mileage. With a lease they make you pay for the lost value due to higher mileage (if you turn in the car and walk away). You still have the option to buyout the lease and refinance with a loan at the end. With a loan you either pay for the loss in value when you sell it or continue to pay on your loan... I don't see a ton of difference there - except that with a lease you can more easily just hand back the keys.

With a lease you can buy it out at any time. You are not trapped in a lease. The buyout amount is no different than a loan outstanding. You need to pay off your loan to sell your car. You have to pay off your lease if you lease the car. "

if you want the lowest rate, email my dude David Aviles [email protected]

He can get you the cheapest price and is an enthusiast as well. He got me into my M.
Click to expand...
^^^^ Agreed.. with leasing the bank is taking all the risks regarding residual value.. when you finance you take on that risk. 
 
hulk7280 said:
^^^^ Agreed.. with leasing the bank is taking all the risks regarding residual value.. when you finance you take on that risk. 
Click to expand...

Bingo!

Leasing is ALL about residual value. That's why a lot of different cars/companies have different leasing terms. It's less risky for the consumer to take on a lease. That's why these dealerships try to scam out into putting money down for fees and down-payments.

Like I said earlier in this thread--if you're going to lease a car, try to get out the door for $0 down and around ($375-400)/month for 36 months with a 12k miles/year limit.
 
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