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Old 01-27-2012, 06:59 AM
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thumper_330 thumper_330 is offline
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Mein Auto: 2012 K1600GT, 2008 M3
Originally Posted by 3ismagic# View Post
Right now BMW is offering 0.9% financing. That is as near to free money as you'll get. At that price I'd rather keep my $40-50k liquid for more useful purposes like buying all of the awesome apple stock TSoc is hyping in another thread.
For people with A+ pristine credit, yes. Personally I was in the position that it's taken me quite a while to recover from the beating my credit took thanks to my ex wife. As a result, the absolute best interest rate I could get on my new car was something like 4.5%, and that was last September. In the end, I ended up with a much lower effective interest rate on leasing.

At the end of the day, leasing appeals to some people. Like me for example; I have always avoided leasing in the past because on average I do about 20K miles per year. However, that has been offset in recent years by the fact that I ride a motorcycle during the spring/summer/fall. Now that I put about 10K miles per year on my bike I can happily lease (though I picked a 15K per year lease) and not stress too much about excessive mileage.

Also, as I said in my post above I have a tendency to trade out cars often. I'm just not the type to hold onto a car for 10 years and quite frankly the work required to fix cars these days is just making it not worth it.

Speaking of which that's another thing I factored in. Looking at my previous cars, I was able to work on them because they were relatively simple. My Subaru SVX was one of the easiest cars in the world to work on and thus I did most of the work myself and managed to keep it running for many years. However, once I started buying cars built after about 2004 I started running into problems. The level of complexity and electronics running these things got more and more difficult to work with, particularly without specialized electronic tools. Particularly once you get into a BMW it gets ridiculous in that you basically can't do a damned thing to your car without having to get into the computer with some specialized computer toolkit and reset or change something. To me that took me beyond the "I don't want to own a Bimmer out of warranty" to the point of saying "I don't want to own a Bimmer... but I'd like to drive one."

Once I factored in the costs of maintenance (including the cost for my time... which yes I can assign a value to since I am partly self employed) and repairs, the hassle of having to find a buyer for an owned car or take a bath on a trade-in every few years, not to mention that I would prefer to have cash-on-hand in the event my job suddenly went south... yeah, I found leasing VERY attractive.

I also made the point above that I could've purchased a 128i in cold hard cash... a damned nice little car that would've been a blast to own and mod the hell out of. However, I still have that cash in the bank for a rainy day and get to drive a 135i every day that the weather won't let me ride my bike. Yes, it increases my monthly cost of living by the amount of a car payment... but to be honest I'd rather do that than have a car in my garage that's I paid ~$30K for and is now worth $25K just by driving it off the lot and having to direct my "car payment" money into my savings account to recoup the cash I just spent on the car. In this economy not having a cash base for at least a few months of living expenses just seems stupid.
2001 E46 BMW 330i Sport Package 6MT *SOLD*
2004 BMW R1150GS - *SOLD*
2004 E60 BMW 545i Sport 6MT - *SOLD*
2012 BMW 135i - Deep Sea Blue / Terracotta / DCT *SOLD*
2012 BMW K1600GT - Vermillion Red Metallic
2008 BMW E90 M3 - Interlagos Blue / Silver / 6MT