Deniska

The time has come. I've had my Techno Violet 1998 M3 for three years and loved it... But the lease is almost over. I've test driven a bunch of cars, but CL Type S definitely stands out in the crowd. A questions though:

I am sure many people had to decide between lease and buy and know the numbers approximately. I am thinking of either a 36 months lease with 12K miles and nothing down, or a purchase with 60 months financing and $3K down. Can anyone tell me what kind of numbers I can expect on either?

The second question is about my M3. I need to decide whether to trade it in (it would be worth more than the CL) or sell it. If I sell it, do I (or the buyer) need to pay tax on the sale? How is that tax calculated? Also, would I still get the tax brake trading it even though it's currently a lease and would be worth more than the CL?

I am sure there are tons of people out there who have been through this, so any advice would be greatly appreciated.

NYREP1

did you drive a 330ci before decieding to trade? if so compare the cl and it, also what else did you consider

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2001 acura cl type-s
comming soon
2000 accord v6 sedan
1997 4runner
1992 camaro
1993 volvo 850
"Tell me kid, have you ever danced with the devil in the pale moon light"

carlsonho

Lease it for 36 months with $0 down would be about $500 a month, 60 months of financing (8.5% interest)with $3K down would be $600 a month.

louisn

Taxes are determined on a state to state basis. In Ar., buyer pays sales tax on difference between new car and trade-in ( also get credit if sold old car separately within 90 days). Call up local licensing bureau to find rate and rules in your state. Buyer Can't get tags or title unless they're paid. If your trade-in is worth more than new car in Ar. you owe no sale tax.

WV250R

How can you trade it OR sell it, if it is a lease? My understanding of a lease is that you have 2 choices at the end of the lease: let it go back to the leasor or buy it at the prearranged price.

[This message has been edited by WV250R (edited 02-24-2001).]

SmoothJyzz

As to that last, it's all dependent on what kind of lease and the terms you agreed to. Case in point, the "lease" from my credit union is for five years, but it's treated as an ownership. I knew there'd be other things I'd be interested in three years down the road, (like the Nissan Z or the Chrysler Crossfire) so I can trade it in just like I own it. It all depends.

Additionally, if I make $20.00 in additional payments each month, it drastically decreases what I owe as it relates to how much negative equity I'll have when I decide (and I will) to trade it in, just like a regular finance.


dee

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PimpDaddy Gold, Deep Tint, BAAAAAD Attitude

fender4

Welcome to this board, my wife is a BG high grad, I'm from Wheeling. Small world.

typeR

...your understanding is wrong, except in a couple states you can negotiate w/lease comp somtimes get the lease end lowered (i had a pathfinder lowered 5k$ ). you can trade it in ,dealer buys from lease comp .buy it your self ,,or sell it to any one you want, or turn it in.

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'01 3.2 CL typeS
satin silver metalic
Llumar platinum plus
tint 20% all around

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'98 ACCORD V-6 sedan
16" coupe wheels
215/55/16 nitto's
20% smoke titanium
black chrome kit

[This message has been edited by typeR (edited 02-24-2001).]

Deniska

How did you manage to get the lease end lowered by $5K??? The residual is around $28K for me in july, plus four months between now and then at $777/month makes my payoff now around $31.5K. I can sell the car and pay off the lease now (and lose a little bit of money because it's a few months before the end of the lease).

As to an earlier question of whether I drove 330i, the answer is no. Loaded 330i comes out to almost $40K, $10K more than CL-S. Also, I need to get automatic now , and I like CL-S transmission much better than BMW 3-series automatic...



[This message has been edited by Deniska (edited 02-24-2001).]

Deniska

Just testing the signature...

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[i]
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1998 BMW M3, 2-door, Techno-Violet/Gray
2000 Jeep Grand Cherokee V8
Soon 2001 Acura CL Type S (Silver or Gold)
TL-S is just a slight possibility