New 3 Series- Lease or Buy? Dallas TX - BMW Forum - BimmerWerkz.com
3-Series (E46, E90) Chat relating to the BMW 3-Series from 1999 to Current. Models include: BMW 316i, BMW 318i, BMW 318Ci, BMW 320i, BMW 323i, BMW 325i, BMW 330i, BMW 328 Ci, BMW 328i, BMW 325i/xi, BMW 330Ci, BMW 320d, BMW 330d, BMW 335d.

 
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#1 (permalink) Old 04-12-2004, 02:09 PM
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dallas328 is an unknown quantity at this point
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You've guys have been so helpful in the past, I thought I'd throw a new question at ya.

I hate talking to new car dealers. ghead

Does anyone have any advice for me on Lease Vs. Purchase of a new 3 Series?

AND

What the heck are the lease plans going for now? I thought I saw an advertisement for $320 per month or something like that.

Thanks in advance for any advice for this newbie
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#2 (permalink) Old 04-12-2004, 08:14 PM
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Is any lease a good deal? IMO a lease is an easier way to drive a car you can't afford. At the end of the lease you have to return the car in good shape / working order with low milage. I believe you also have to put new tires on it... and pay for other things as well to get the car in tip-top shape. You may also have to have all maintenance / repairs performed by the dealer ... which if you are paying for out of your pocket -vs- doing it yourself ... you also pay more coin as well. The lease price you see on TV advertisements is typically the lowest possible $ for a car stripped of most everything. Once you add a few options this amount will sky-rocket.

From what I know about leases... when they first came out ... Many went for it. It is an excellent program for those who have ample cash and want to always drive a new car without ownership. After 4 yrs you have paid all that cash to the dealer and you have nothing to show for it / nothing to trade. If you never want ownership and want to drive someone elses car for 4 yrs... then it is a good program for you.

This is just my opinion. I have never leased a car and never investigated a BMW lease in great detail. I have family and friends who have had leases and I have heard horror stories.

Again... the above is just my opinion... and I am not commenting on any lease program or current lease offers in particular offered by BMW.
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#3 (permalink) Old 04-13-2004, 01:18 AM
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There are several considerations when you decide whether to lease or buy. If you can write off the car as a business expense then leasing may be a better option. Most folks though don't negotiate properly, IMO. Instead of negotiating based on monthly payment, I would....

1. Negotiate price of the car (as if you were going to buy it)
2. Negotiate the money factor (near zero is best - the money factor I've seen are from SAAB, I think they're around 0.37 or something rediculous like that)
3. Negotiate the miles allowance
4. Negotiate the residual (lower the better - more options for you in the end or in between in case you decide to trade it for something else)

I think that's about it

If you decide to buy... I guess I would shop around. Usually the 3rd dealership end up with my business simply because by then I know how low the dealers are willing to go used . When I start to discuss pricing of the car, I've noticed that the dealer tries to hold me "hostage" by keeping my license or registration for my trade. So before the sales guy leaves for the "manager's office" I get all my documents and keys back. When they take too long, I just leave. I've been told that the room you're sitting in may be "bugged" or more likely the speaker phone is left on the listening mode. I guess you could use this as an advantage.... Dealers also want me to see what they pay for them, for which I just push back the invoice and politely say, "I don't car what you paid for it. I'm only interested in what I can pay for it.". This usually leaves them stunned.

I've bought too many cars and as you can probably tell, I like to negotiate :P Good luck and have fun. Just remember, its your money and you can spend it anywhere you like.

Charles H.
'04 E46 M3 (6sp)
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#4 (permalink) Old 04-13-2004, 07:14 AM
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the residuals (if you go thru bwm financing) are way to low for a lease to be a viable option imho (52% at 3 years). financing over 72 months sounds better to me...
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#5 (permalink) Old 04-13-2004, 07:18 AM
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dallas328 is an unknown quantity at this point
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Thanks for the advice- I have always purchased and I think I will again, but I just wanted to make sure there wasn't something I didn't know because I hear so much about these leases lately. I'm glad to know there wasn't some secret I was missing
I've actually ran across some really good pre-owned deals out there. I think these leases create a used-car market. That's a concern if you buy new, as the leased cars (if there are too many) could effect your resale value I would think.
Thanks again
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#6 (permalink) Old 04-13-2004, 11:33 AM
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Quote:
Originally posted by peterkulesza@Apr 13 2004, 07:54 AM
the residuals (if you go thru bwm financing) are way to low for a lease to be a viable option imho (52% at 3 years). financing over 72 months sounds better to me...
I also don't understand this lease thing but...
If the residuals are way low then wouldnt' that be a good thing if you were planning on purchasing the car after the lease??
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