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Old 11-30-2012, 01:56 AM
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ChrisF01 ChrisF01 is offline
Gib mir Feurschutz!
Location: SoCal (West LA & IE)
 
Join Date: Aug 2012
Posts: 1,066
Mein Auto: 2013 750i
Quote:
Originally Posted by MMLLC View Post
...Not a bad idea about leasing bc of resale value if you get hit. Never thought about that. For me, a lease always seemed like a waste, your locked into a car for a set # of miles, and you have nothing at the end of it. Do many of you lease for tax reasons?
I see more reasons to lease than to own.

Immunity to accidents as far as depreciation. Even if you're in a minor fender bender and a Cop scans your VIN, kiss a major chunk of that resale good bye.

Minimizes exposure to lemons. After having to fight with litigation against DaimlerChrysler I don't think I would finance again. I am actually financing my SRT8 but that will be the last vehicle I do so. Not that it means you're not susceptible to getting a lemon, its just less of a hassle. Worst case scenario you're stuck with a vehicle for 3 years then can walk away scott-free.

I upped my mileage on my 7 from 10k to 15k/year. It increased my monthly payment by ~$111.xx. Cheaper than trying to lease/buy a F30 for a commuter vehicle. I don't think many of us on this forum are a one-car household anyways. So mileage really isn't an issue, you can just drive another vehicle. I just was surprised how much I had racked up so quickly so I just bit the bullet and increased my allowance. And I did this 4 months after signing the papers so you're not "locked" as much as you think. You can goto BMWUSA.com and increase your mileage to whatever you want, if you want 50k/year you can, you'll just pay for it (a discounted rate as long as its at least 6 months before the end of the lease.)

I just end up turning the car over after 2-3 years anyways. I was taking a hit each time, so I needed to end the cycle. I'm not going to keep my car past 3 years so why lie to myself when I'll want a newer, and better toy in a couple years?

You don't get anything at the end, but I have a lot more peace of mind, and feel freer to drive it more often. I love the car, but I'm not worried if its in an accident, vandalized, stolen, etc...

Different Strokes eh?
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2013 BMW 750i - Coded, Executive, Lighting, Cold Weather, M Sport, M 303 Wheels, 5% Tint, Conti DWS Tires, 3M Bra, Vinyl Black Gloss Roof Wrap, Exhaust Flap Mod.
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