should I be stupid and lease a new Z4?

[SilverBeam]

Edit: I worked out the math including the excess miles I drive, I can't afford a Z4. So I'm not going to get one. Thanks for everyone's input. :)


Always in the quest of saving money. I could get into a new Z4 3.0i with a hefty down payment, and have a monthly payment of under 250 a month. This would almost cut my current payments in half (purchase).

I have never been that big on leasing, I think it's a waste of money. My plan was to save up and buy a Z3 at the end of summer. But I love the Z4. I also drive a lot. I'd be going over the allowed mileage no doubt. But then there is the free maintanace, which would save me money over a used Z3. There is a big ? mark as to what to do when the lease is up as well. But I know that sooner or later, 5 years or so, I'll be in the market for a family car. So it may work out fine. The Z4 happens to be my dream car right now. If I could have my choice of anything for a daily driver, it would hands down be a Z4.

Think I should do it? I'd have to borrow some money for the down payment, which is horrible, I know, but is it really that dumb of an idea, or is this a winner?

[T-Rex]

E36/7 M Roadster or ban! Seriously Lauren, I know how tempting that low monthly payment sounds, but I'd rather own the car I'm paying for - leasing just doesn't make sense to me until I'm in a much better financial situation than I am today.

That said, if you could find a way to make monthly payments of 250-300 and own the Z4, DO IT!

[Kevlar]

Should never put lots of money down on a lease... in the event the car gets totalled a week after inception, all of your downpayment money is lost.

[renemesis]

I'm gonna go ahead and say it's probably not smart for a college student to be leasing a new car. You've got a pretty good car as it is and should probably stick with it for a little while longer.

250 a month may be worth it, but a down payment is not.

[m3fuz]

Absolutely not - you never own the vehicle and the mileage overage could make any potential saving moot. Save up for the Z3 as originally planned and you'll be happier you did.

[ken_vs_ryu]

Have some sense, you know you like it in da butt.

[SilverBeam]

the down payment would be offset in the amount I'd save a month in a little bit more than a year.

[SilverBeam]

I did the math, I don't think it'll work. If you compare just payment and mileage, it would be a smart move, since if I continue at my current rate I'll have 175,000 miles on the 323 when I pay it off. But if you factor in the down payment, and the cost of added miles (500 extra miles a month) it is no longer cost efficient to get the Z4, and over the next 5 years will cost me more. Before you factor in the free maintance, which would save me a few grand, I'd be potentially spending another 10 grand over 5 years to least a Z4.

I won't be doing it.

[Kevlar]

the down payment would be offset in the amount I'd save a month in a little bit more than a year.

Unfortunate friend of mine put down about 20k on a lease for a Mercedes... and totalled the car about a month later. He thought he would be saving money as well... until he realized while the insurance did pay off the car ... it did not refund him his deposit of 20k.

[Juicy Double]

The z4 is infinitely better than the z3, so go for it!!

[CdnBimmer]

z3 all the way

[woofster]

Always in the quest of saving money...

I don't think the Z4 lease is the correct approach.

[DriftingE30]

I did the math, I don't think it'll work. If you compare just payment and mileage, it would be a smart move, since if I continue at my current rate I'll have 175,000 miles on the 323 when I pay it off. But if you factor in the down payment, and the cost of added miles (500 extra miles a month) it is no longer cost efficient to get the Z4, and over the next 5 years will cost me more. Before you factor in the free maintance, which would save me a few grand, I'd be potentially spending another 10 grand over 5 years to lease a Z4.

I won't be doing it.


Why would you want to lease a BMW for 5 years? The average BMW customer leases a BMW for the term of 3-4 years. More than half of the customers lease for the 3 year term.

[Fast Frankie]

I leased a Z4 three years ago and just turned it in. It was great for me being an independent contractor because you can write off lease payments. If your in a tax situation like me, its a very smart idea. I think its a good idea for that reason, if your w2 or not working, I think its not a good idea.

[windnsea00]

Long run you will end up screwing yourself with a lease, especially being at the age we are I would imagine you don't want that type of overhead. I also don't believe you can modify the car in anyway on a lease. I'm personally waiting for the "nice" stuff once I'm done with college and hopefully have a decent career going. I don't want to live at home forever either so I will have to save for that too. My last g/f did a decent size loan to get a 328ci and now will be paying for it for quite a few years to come, $333 a month! To me that really sucks to have that over your head and also know you have to basically keep it unless you come up with the money to pay off the loan.

[BahnBurner]

I would have to agree with most of the people here and say leasing is probably not something you want to get into. I know the Z4 3.0 is tempting (yes I did read about them in the Roundel) but with the extra mileage and stuff you will be doing, I don't think it would be the best plan. Just be patient and keep saving.

[DriftingE30]

the only way you an really screw yourself on a lease is by:

Driving over the allowed miles. If you know you're going to drive over the allowed miles, call BMW NA and purchase extra miles for .16 a mile. If you go over it can be anywhere from .20-.21 cents a mile at the end of your lease.

Trashing the car you're leasing. I've had more than my share of customers drop off cars in just down right wrong shitty condition.

Not making your payments. Well you know how bad that can be.

Or getting fooled by the finance manager selling you the lease on your new car/truck. Telling you that the car/truck you just leased is going to be worth 60% of the MSRP when you're done payin on it. yeah right (This is a prob with alot of domestic car companies. BMW/MINI's are some of the very few cars that hold the residule value very very well)

Never place a huge down payment on a lease unless you plan on buying it in the end. Keep in mind. The lease is a way for someone who can't afford a huge payment every month for a vehicle, to get a nice vehicle for a fraction of the cost. It could be $70-150 less than the average monthly purchase payment.

I'm on my second lease. I'll probably be buying more miles before then end of the lease. And I'll be getting into another lease after I'm done with this one.

Leasing isn't for everyone.

And to be honest, you never really own the car untill the title's in your hand. You can be making payments for 5 years on your car. Add in the interest on the loan you got, 5 years of Blue Book changes, the down payment and the monthly payments. Do the math. Do you think that $36,000( + tax, title, license, DMV fees, interest) car will be worth that 5 years from now when you're done payin on it? Then takin a hit when you decide to trade it in, or sell it to a private party. A simple no answers that one.

This is why I like leasing. I get a new car every couple of years, and I only pay for what I use.

[SilverBeam]

I don't think the Z4 lease is the correct approach.
lol I know. Leasing is tempting because I can get a nicer car for the money. But after I calculated what my extra 500-600 miles a month more than normally allowed would cost me, I decided it truely isn't right for me. And I was only factoring for 15 cents, at 21 cents as another member said it would be, it could cost me over 7 grand in excess mileage. Lol, NOT a way to save money.

I never got specific about the lease. I test drove a Z4 there a few weeks ago, I got a call from the sales guy today. They have lease insentives currently on the Z4, so you can get one for as little as 199 a month (with 5 grand down). I told him because I was upside down on my current car I didn't think I could do it. I never spoke to him about time of the lease or anything else, I just told him I couldn't do it. then I got to thinking, because the Z4 is my favorite car, has been since it came out. And the thought of maybe being able to get into one with a little bit of streaching now I could do it. I am assuming a 5 year lease because the payment is so low. That is why I was factoring for 5 years.

I'm still going to try for the Z3 at the end of the summer. I would love to be able to get a Z4. But it just isn't practical.

[LeMansGTS]

lol I know. Leasing is tempting because I can get a nicer car for the money. But after I calculated what my extra 500-600 miles a month more than normally allowed would cost me, I decided it truely isn't right for me. And I was only factoring for 15 cents, at 21 cents as another member said it would be, it could cost me over 7 grand in excess mileage. Lol, NOT a way to save money.

I never got specific about the lease. I test drove a Z4 there a few weeks ago, I got a call from the sales guy today. They have lease insentives currently on the Z4, so you can get one for as little as 199 a month (with 5 grand down). I told him because I was upside down on my current car I didn't think I could do it. I never spoke to him about time of the lease or anything else, I just told him I couldn't do it. then I got to thinking, because the Z4 is my favorite car, has been since it came out. And the thought of maybe being able to get into one with a little bit of streaching now I could do it. I am assuming a 5 year lease because the payment is so low. That is why I was factoring for 5 years.

I'm still going to try for the Z3 at the end of the summer. I would love to be able to get a Z4. But it just isn't practical.
id just keep driving the 323 and save the money for something more useful, or something which can be more rewarding (or even more risky:shifty ) in the long run (bonds, stocks, etc). if youre not big on taking risks, put the money into a CD for now:) sorry for the ot

[SilverBeam]

id just keep driving the 323 and save the money for something more useful, or something which can be more rewarding (or even more risky:shifty ) in the long run (bonds, stocks, etc). if youre not big on taking risks, put the money into a CD for now:) sorry for the ot
I should sell my car. I was young and stupid when I bought it. I didn’t know what I could and couldn’t afford. I should cut my payments. Then I'll have more money to invest. I want to invest, but I don't have as much disposable income as I'd like. It would be great to have an extra 3 grand a year. Hopefully I won't spend it all.

I am one for low risk, slower pay off then high risk high payoff though. My ideal investment would be real estate, but I’m not at the point where I can afford that yet.

[LeMansGTS]

I should sell my car. I was young and stupid wwhen I bought it. I didn’t know what I could and couldn’t afford. I should cut my payments. Then I'll have more money to invest. I want to invest, but I don't have as much disposable income as I'd like. It would be great to have an extra 3 grand a year. Hopefully I won't spend it all.

I am one for low risk, slower pay off then high risk high payoff though. My ideal investment would be real estate, but I’m not at the point where I can afford that yet.
aren't we all? lol. definitly don't invest money you can't afford to lose. from what i understand, the real estate market, though holding strong in the last few years, is weaker than last year and is projected to weaken even more in the coming years? how is it in socal?

[LeMansGTS]

now that i come to think of it, if you can purchase property "inside the loop" so to speak, you can make some good money (esp if it needs rennovation). major cities are experiencing a sort of "reverse" surbanization that happened in the 50s. now, value of land is skyrocketing in inner cities. even is happening in moscow (the one in russia) where land values have increased twenty fold in some parts...so yea, again i venture into ot in your thread, sorry

[SilverBeam]

aren't we all? lol. definitly don't invest money you can't afford to lose. from what i understand, the real estate market, though holding strong in the last few years, is weaker than last year and is projected to weaken even more in the coming years? how is it in socal?
price is going down here as well, not by much, but down. My parents and I might buy a small house after summer, that would be my first step. But I'm not sure yet, it depends on what the market does. My parents bought our current house when the market was at rock bottom. 16 years later it is worth 3 times what they paid for it. They are cashing out soon, they bought land in Central California.

Oh yesh, gentrification is in So Cal too. Orange, CA is a great success story, as is downtown San Diego. We were thinking about places like Santa Ana for the house, but it's still pretty crappy. However, cheap here, isn't all that cheap. I don't forsee us getting anything for less than 500,000 unless something big changes.

[windnsea00]

Santa Ana?? Haven't been there recently but my dad use to run Budget Car Rental of OC/LA in the mid/late 90's and one of the main places was located there. Very industrial/smoggy. Move to somewhere in San Diego :) We have a 2 house lot in Pacific Beach for the renting type!

[SilverBeam]

Santa Ana?? Haven't been there recently but my dad use to run Budget Car Rental of OC/LA in the mid/late 90's and one of the main places was located there. Very industrial/smoggy. Move to somewhere in San Diego :) We have a 2 house lot in Pacific Beach for the renting type!
There are good parts and bad parts to every city. My grandparents moved to Santa Ana from Minnesoda before my mom was born. My mom's first house was in Santa Ana. Like any city, some areas are better than others. There are some very cute areas in Santa Ana, but honestly, in comparison to most of OC, it is a dump.

I think that people are starting to look there again because it is cheap in comparison to near by cities, and it is still really close to places like Irvine and Newport, where many of the jobs are. But the problem with gentrification is: you gotta get there early to get a good deal, and you have to trust that others will follow. Otherwise you'd stuck with a fixed up house in a crappy area.

I can't move the San Diego. It is more affordable than OC. But the family business is here, and my boyfriend lives in LA.