wjpetz

Hey everyone.. ok, so I am ready to get a car.. 1/2 people say buy.. 1/2 say lease.

I got this lease quote.. seems really high to me.

TL w/ navi = out the door of 647.62 and $550p/m for 3 1/2 years.

MDX w/ navi is $1,321 out the door and 600p/m for 3 1/2 years.

THis is for the 04 model. To lease the BMW x3 is alot cheeper, what's the deal?

JoganJani

Depends on residual. 330i will be better than TL I guess.

cM3go

do you want a new car in 3.5 years, if yes, then lease, if you would rather keep it longer, buy

KilroyR1

This is the last year for the current 3 series - it's probably heavily subvented by BMW.

Don

Snive

Those monthly figures seem high, but it could be due to interest rate on your lease vs. price and residuals.

for instance my lease on an 04 with nav, is 491/mo, nothing down other than fees, first month and security. I started the lease in June. I forget my money factor at this point, but it's obviously lower than yours. Also my cost was 33,000 with a 51% residual, 12,000 miles per year.

PG2G

I think leasing is a perfect fit for me, but the prices i'm getting on the TL seem so unappealing. At what I was offered for a 4 year, 15k mile lease (think it was mid-low 500s) I could own the car in 5 years paying only $100-150 more. Now, the question is, if I want to trade it in 4-5 years from now, will the resale value make up for the $150 a month extra I paid.

One thing is sure tho, I have no intentions of driving this car into the ground. As soon as they do a complete redesign, I can see myself ready to upgrade.

IL_TL

You are talking about the x3, not the 330xi right? The x3 is considered junk by many, as it is contracted out for build by BMW.

jimthegreek

The lease rates on the TL and MDX suck right now on a 2004 model, since its the end of the 2004 model year, the residual values are low , so you end up paying for more of the depreciation, instead of it being the beginning of the model year and residuals being higher. The X3 you are probably getting priced on is a 2005 model? No?


Leases work differently than purchases. You always want to lease at the beginning of the model year when the cars are still new, and residuals are high, thus your are financing less of the vehicle.(i.e. at the beginning of the year, they speculate that the vehicle is goign to be worth 58% of its MSRP in 4 years, so you pay for the other 42% plus rent charges(money factor %), but at the end of the year, they speculate now that that car is almost a year old, even though your still buying it new, its now gonna be worth 50%, so you now pay 50% of MSRP plus rent charge(money Factor %).
Opposed to purchasing, the interest rate plus the discount you'll get on the car gets better as the car gets older, making it a better buy to purchase now , then at the beginning of the year.

ALWAYS, buy at years end, and lease at beginning of the model year.


Also, BMW's always have higher residuals values than Acura/Honda/Nissan/Infiniti.

PG2G

I just got a quote for a 2004 with navi, 48 month 15k miles. $3500 down and $515 a month. Unless the 05 leasing is signifigantly better, that's pretty damn awful...

jimthegreek

the 2005 lease numbers will be slightly higher.
The price you just quoted was based on full sticker??

PG2G

Probably, I just asked the dealer for lease numbers. They offer a selling price of 500 off msrp, so it may have been based on that.

wjpetz

This buying / leasing a car is way to much dam work. I just played the lotto, so if even if I win.. I'd still be like, should I lease it or buy it

Thanks for all the help... I think I am just going to hold out w/ my car for a bit more untill some amazing deal comes out. For TL, 450 seems more reasonable payment.

For those who care.

the deatials are as follows

Cap Cost 33000
acq fee 1095
sales tax 2000
net cap cost 36103

money factor 2.2
net residual 17962
total depreciation 18141

Mo depre 431.93
mo rent 118
total mo payment 550.87

jimthegreek

that looks about right, and since your in NY, the lease works a little differently.

3PUTT

The prices you got are too high. Call my friend George Meyerson at Park Ave. Acura. Tell him Alvin Ago sent you. He will take care of you just like family.....no beating around the bush. Good Luck!!

George Meyerson
Phone (201) 587-9000 x224

3PUTT

that's right NY does not have leasing anymore.

lindros2

i got a 2004 TL (auto/NAVI) last October for $460/month for 42 months.

I would imagine 2005's will be similar to my deal come this October, since a 2004 has much less value than a 2005 would right now...

"Lease in the beginning of the model year, Buy at the end..."

Two other notes -- cheaper X3 lease may be a "smokescreen" - German manufacturers are notorious for doing low monthly payments but requiring high security deposit(s) / cap cost reduction. BMW also may have a program / incentives to move the slow-selling X3.

Saintor

Never buy at year's end unless you have an heavy discount of 15%+. Even for a scope of 7-8 years.