2003 352i purchase in 2006 for $20k

[Volk]

Hello,

My dad just leased a 2003 325i on his business name, which means his $430 a month payment plus all the gas is 100% tax deductable. He plans to get rid of it at the end of the 3 year lease, and maybe get a 540 or bigger (he thinks this one is too small for him). The residual on the car is like 59%, roughly $20,000.

After the 3 year lease is over, should I pay him the $20k, so he can pay off the car, and take the car for myself? It will have <36k miles on it at that time, in 2006. I can save $20k to give him in cash within 3 years, as I am going to college right now. I drive a '94 Civic currently so in 3 years when I will have graduated, I'll be lookin for something new. So do you guys think its a good idea? Thanks.

[donutchow]

yeah it is, if you try to buy a 3 year old 3 series it will cost you likle $26,000. those things hardly depreciate, it's defiintely worth 20k

[BlackTape]

20 thousand for a 3 year old 325 is pretty good....

but you could find something cheaper.... In 3 years you will be able to find 2002 330i's for the same price

[MrM3]

if seen alot of 3yr old highmileage e46's go for under $20k, but with 36k miles $20k is a great buy.

[Ski]

Originally posted by Volk@Jul 2 2003, 03:43 AM
Hello,

My dad just leased a 2003 325i on his business name, which means his $430 a month payment plus all the gas is 100% tax deductable. He plans to get rid of it at the end of the 3 year lease, and maybe get a 540 or bigger (he thinks this one is too small for him). The residual on the car is like 59%, roughly $20,000.

After the 3 year lease is over, should I pay him the $20k, so he can pay off the car, and take the car for myself? It will have <36k miles on it at that time, in 2006. I can save $20k to give him in cash within 3 years, as I am going to college right now. I drive a '94 Civic currently so in 3 years when I will have graduated, I'll be lookin for something new. So do you guys think its a good idea? Thanks.

That might not be a bad idea because you'll know the history of the ride and any repairs that are done if needed..plus he'll prolly let you drive it here and there so you'll know the car..

I say go for it and if your a couple of grand short, then maybe Pop will help you out!!

[AZ325Ci]

$20K for a 3 year old bimmer with 36K miles? that's a good deal!!

i'd go for it

[Spetsnaz Op]

i'd go for it if you tell him that you are considering this

because if you don't he is gonna treat it as a regualr lease and beat the crap out of it

[college_cars]

Go for it! You can't find a 3 year old BMW of no kind with that kind of mileage for $20k. Especially since your dad will be the previous owner...you'll know the history! However, if you let him give it back to the dealer, more than likely they will CPO-it and put it back on their lot and if your there in time...you might could buy it back as a CPO BMW with 100k mile warranty. Of course it will cost you more, but if the car gives you guys no probs, then I wouldnt see anything to worry about! Have fun, and a BMW will be definate upgrade from a Civic...you'll love it.

[peterkulesza]

absolutely go for it. excellent deal.

peter