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Originally posted by Pornwolf@Jul 11 2003, 12:49 AM
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Originally Posted by Hell Puppy,Jul 10 2003, 07:24 PM
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Originally Posted by Torone,Jul 10 2003, 10:21 AM
Take a BMW 745iL for instance. Reasonably equipped, you'll drop $75K. It leases for around $1150 for 36 months. Finance that, even at today's interest rates, and you'll be out close to $1400 per month even at 60 months.
With the lease, you know you can get out of the car worst case at 36 months. Even if at that point gas costs $5 a gallon and the car is worth $20K less than the residual value, you're out of the car owing nothing.
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Yeah, nothing not counting the $50k plus you just said bye bye to over 3 years. I think a full on purchase of any car is the best option. |
Your math is a little faulty. Total of the lease payments is $41,400.
At $41,400 into a 60 month traditional finance program, you're 30 months in and still owe $54,000 on a 2.5 year old car. Bad news is a 2.5 year old 7 series, even in good shape, is going to be worth about $10K less than that.
Depreciation is a bitch.
I do agree that just buying the car outright and paying cash is the best option if you can do it though.