Quote:
Originally Posted by M6-Coupe
Leasing a car is better than financing for people who wants to have a car for 3 years or less. at the end of the lease you have option to keep the car and buy it (finance it) or return it. You can also sell the car to third party if the car worth more than the residual value and then pay it off. Also if something happens like accident, you are not responsible for the loss as long as you get the car fixed by certified people (in this case BMW certified body shop). The only trick here is the monthly rent fee which is part of lease but it's almost the same interest fee if you finance the car. Another advantage is the lower monthly payment compare to financing since in case of financing, you have to pay the whole price in 5 years (assuming 60 month term), but in case of lease you have to pay depreciation amount in 3 years which is something about %40-45 of price (let's say M6 as an example) in 3 years. Also if you finance the car, you finance the price of car plus tax on whole price. If you lease the car, you just pay tax on depreciation amount (that %40-45 I mentioned). Again if you plan to have the car for long time until you pay it off, you should finance it and take the risk of property loss if any accident happens. If you plan to change your car in short term, you should lease the car.
At the end of the day, you are losing money by driving this kind of car no matter what it's your own car (which is not since you have financed it unless you bye it in cash) or lease it, but you are paying the cost of enjoy and happiness  |
I don't like both leasing and financing
I know it's better money wise, since I don't keep cars longer than 1 year, but I won't feel that the car is mine. Also, you can't and wouldn't want to tune a leased car...