I'm thinking about buying a new BMW 328i coupe. I've looked at lease options. Monthly payment is significantly lower compared to buying but all the money is gone 100%. Am I assuming correctly that when I sell it 24 months later I will ultimately end up spending less vs. a lease? Thanks
2007-05-18 05:42:47 · 4 answers · asked by Jay S 3 in Cars & Transportation ➔ Buying & Selling
The best thing to do is run the numbers. If you want to trade every other year or so, it may be better to lease than buy. Figure out your total cost for both possibilities and compare. If you are planning on keeping the car for a longer period or your are planning on putting a bunch of miles on it, then normally buying is again cheaper. The extra cost of excess mileage will eat you up on costs. good luck.
2007-05-18 05:49:27 · answer #1 · answered by Fordman 7 · 1⤊ 0⤋
Make sure you do some research on swapping out your lease. Audi Financial (or whoever you leased from) may require the new lessee to be qualified before swapping the lease. Folks who lease off these type of websites are looking for deals. I doubt there will be much interest in someone assuming your full monthly payment. This may mean you will have to reduce the payment tot he new person but still pay Audi the remaining amount. If you simply want to terminate the lease, you are still on the hook for the remainder of the payments plus any fees. That would total about $8400...and you would still need to get another car. your best bet is to keep the Audi and finish the lease. It's going to cost you $8400 anyway so you may as well enjoy the car.
2016-05-22 07:16:36 · answer #2 · answered by ? 4 · 0⤊ 0⤋
In my opinion, if you plan to trade in 2-3 years leasing is better. Cars typically depreciate 30% when you drive off the lot. 30% on a BMW is a lot of money. Yes, in the end, you won't have anything - but that is better than losing all your money. I had a customer last week that bought a $38K Buick less than two years ago that is only with $20K now. With a lease, you know exactly how much you are going to spend - and exactly what you have to pay if you want to keep it at the end of the lease.
2007-05-18 06:21:49 · answer #3 · answered by Ann507 2 · 0⤊ 0⤋
it depends on the lease and whether or not you will stay within the # of miles in the contract. usually 12-15, 000 miles. And you are not really selling it at the end of 24 months, you are returning it, with no equity, as when you buy. so basically it is a rental with the option to purchase at the end of the lease. so if you are looking to save money and can stay under the alloted mileage, and don't want to earn equity, then yes, leasing is good. if not, buying is better.
2007-05-18 05:51:47 · answer #4 · answered by docbrownis 2 · 0⤊ 0⤋