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      05-26-2014, 11:43 AM   #23
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The same reaoson I lease a car
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      05-26-2014, 12:20 PM   #24
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That's interesting... I have heard this 3 times in a couple of hours today now (lease vs buy).

I've never considered leasing, because I've always wanted the cash value in return for my payments.

Maybe it is something to consider now. I drove it today and the steering wheel is off center (looks like I am turning to the left, but I am driving straight), there is a shimmy in the steering wheel at any speed and the tires definitely have a flat spot (keep in mind the tires are less than 2 weeks old with less than 200 miles on them, they were new with the new HRE wheels).

The whole thing is a mess and based upon the meeting with the drivers insurance company this am, I am in for a fight.

That's fine, I will fight back.
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      05-26-2014, 01:20 PM   #25
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Quote:
Originally Posted by BTF12M6 View Post
That's interesting... I have heard this 3 times in a couple of hours today now (lease vs buy).

I've never considered leasing, because I've always wanted the cash value in return for my payments.

Maybe it is something to consider now. I drove it today and the steering wheel is off center (looks like I am turning to the left, but I am driving straight), there is a shimmy in the steering wheel at any speed and the tires definitely have a flat spot (keep in mind the tires are less than 2 weeks old with less than 200 miles on them, they were new with the new HRE wheels).

The whole thing is a mess and based upon the meeting with the drivers insurance company this am, I am in for a fight.

That's fine, I will fight back.
PM me if you want some additional info. My father was just hit by someone in his new Tundra and it did significant damage to his truck. (You should have seen the Cavalier who his him though). Anyway, there is a company that specializes in creating a report that will essentially give an amount of compensation for "diminished value" based on many variables and they have been known to hold up in court. IIRC, he spent $300 on the report, but it netted him an extra $3K+ on what the insurance company first offered him. I can give you more details if you'd like.

Regardless, sorry about what happened to you and best of luck.
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      05-26-2014, 07:54 PM   #26
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Quote:
Originally Posted by BTF12M6 View Post
That's interesting... I have heard this 3 times in a couple of hours today now (lease vs buy).

I've never considered leasing, because I've always wanted the cash value in return for my payments.

Maybe it is something to consider now. I drove it today and the steering wheel is off center (looks like I am turning to the left, but I am driving straight), there is a shimmy in the steering wheel at any speed and the tires definitely have a flat spot (keep in mind the tires are less than 2 weeks old with less than 200 miles on them, they were new with the new HRE wheels).

The whole thing is a mess and based upon the meeting with the drivers insurance company this am, I am in for a fight.

That's fine, I will fight back.
Same, never considered leasing, I won't have the feeling that the car is actually mine.
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      05-26-2014, 07:59 PM   #27
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I have never leased before either. I feel like it's better to own and just assume the depreciation yourself when you decide to trade in. Obviously being rear ended sort of throws a wrench into that, but if you can collect diminished value then you're set straight, aside from the inconvenience of dealing with insurance companies, lawyers, and negligent a-holes.
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      05-28-2014, 08:59 PM   #28
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Quote:
Originally Posted by mr-karim View Post
Same, never considered leasing, I won't have the feeling that the car is actually mine.
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
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      05-28-2014, 09:36 PM   #29
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Quote:
Originally Posted by M6-Coupe View Post
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...
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      05-29-2014, 01:33 PM   #30
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Shouldn't the tires be replaced as part of the repairs, since they are obviously damaged? I'm sure that replacing them and whatever is wrong with the steering will increase the cost of repairs, but the insurance company is paid premiums for just this sort of situation and should take care of it. I know that insurance is almost a scam nowadays, though, in that they often use tiny loopholes to get out of paying out.
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      06-04-2014, 08:28 PM   #31
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Quote:
Originally Posted by BTF12M6
That's interesting... I have heard this 3 times in a couple of hours today now (lease vs buy).

I've never considered leasing, because I've always wanted the cash value in return for my payments.

Maybe it is something to consider now. I drove it today and the steering wheel is off center (looks like I am turning to the left, but I am driving straight), there is a shimmy in the steering wheel at any speed and the tires definitely have a flat spot (keep in mind the tires are less than 2 weeks old with less than 200 miles on them, they were new with the new HRE wheels).

The whole thing is a mess and based upon the meeting with the drivers insurance company this am, I am in for a fight.

That's fine, I will fight back.
Fight for every penny. Good luck. This is shit. I feel terrible.
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      06-05-2014, 11:36 AM   #32
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On my '08 M6 I had a cracked windshield from something skipping up on the freeway and hitting it. No other damage. So I just called insurance figuring it wouldnt be a problem. It was a quick fix(insuramce called it a "road hazard"), but when it came time to sell everywhere I took it to they would point out on the carfax that there was an accident and I always got lowballed. Even through the dealer. Just became very annoyong having to explain that the incident on the carfax had no body damage. Carmax low balled me so low and I didnt know why until the salesperson pointed it out. So this time around I leased and dont worry about anything happening. Just gonna give it back and move on to the next.
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      06-05-2014, 09:33 PM   #33
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K this is happened to me in my Targa4S - the last car I ever leased. I got some special 24month lease from Porsche and I swear it was in the shop 6 out of those 24 because of 2 major accidents (one massive rear end another parking lot disaster by an SUV). Non my fault but the car seamed so doomed, and so glad I leased it. However.. I found out that the dealership auctioned it off (because of the accidents) and 6 months later I see it for sale 10k more then my residual was to begin with; amazed to see it selling for $90k. Spoke to my dealer about that and he said that this happens all the time for auctioned cars and that sometimes people buy and don't ask and other times people do some research but still pull the trigger after a quick negotiation.

Don't worry about getting value on your ride it will be ok as long as there is not major frame damage etc. Enjoy it in good health..
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      06-06-2014, 01:06 AM   #34
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Damn annoying to see damage to your new car....I'd no idea that such relatively small damage showed up on a report.

In the UK we have a similar system but it's graded according to severity:
Category A - Vehicle must be crushed. All of it.
Category B - Vehicle may not be returned to road. Parts may be sold.
Category C - Repairable. Possibly structural damage. Cost of damage (at main dealer prices and labour rates) is more than book value of vehicle.
Category D - Repairable. Probably non-structural damage. May have been economic to repair, but insurer doesn't want to.
Category F - Damaged by fire.
Category X - Repairable. Minor Damage.

A lot don't show on the register if obviously repaired privately (not through insurance), values do get affected but here is the difference. If the vehicle is repaired through insurance so deemed a 'proper job' then it doesn't show as far as I'm aware.
I had a 335d coupe a few years ago that had suffered a reasonably big accident, I didn't find out till after I bought it when I was searching through previous BMW visits it had. I had no info for one of them so I enquiried at the dealer who then after I requested sent the bill across which showed the extent of parts used. However it always looked and drive fine and I traded it back to a main dealer a few years later with no issues.

Regards leasing, why would you not? Why sink all your hard earned into a depreciating asset? Keep the bulk of your money earning for you and let BMW pay for it....decide what you are prepared to pay a month then hand it back at the end. No shame in that, it shows more intelligence than buying outright at the beginning.
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      06-06-2014, 06:05 PM   #35
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I live in SoCal now and everyone is a crazy driver here. I'm always watching in the mirror when I'm at the light to see if someone isn't slowing down/paying attention.

That 1 or 2 feet of extra stopping-distance can mean the difference between a hit or a near-miss.
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      06-06-2014, 11:08 PM   #36
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Still working through it. Car is on the mend… searching for the replacement.
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      06-07-2014, 10:04 AM   #37
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Quote:
Originally Posted by BTF12M6
Still working through it. Car is on the mend searching for the replacement.
Going M6 again for the replacement or venturing into something different?
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      06-24-2014, 01:27 PM   #38
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Twitch just got rear ended on Friday. Cracked the lower trim piece around the exhausts and bent my license plate but it doesn't look like too much just a new piece and paint plus labor. Hard to believe it cost $1800 to fix but it will be fine. Don't lose sleep over it.

Noushy
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      06-25-2014, 12:50 AM   #39
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Originally Posted by noushy View Post
Twitch just got rear ended on Friday. Cracked the lower trim piece around the exhausts and bent my license plate but it doesn't look like too much just a new piece and paint plus labor. Hard to believe it cost $1800 to fix but it will be fine. Don't lose sleep over it.

Noushy
Twitch's Sakhir M6 just got rear ended?
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      06-25-2014, 04:48 AM   #40
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Sorry no was responding it happened to me
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      06-25-2014, 08:00 AM   #41
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Quote:
Originally Posted by BTF13M6
Quote:
Originally Posted by noushy View Post
Twitch just got rear ended on Friday. Cracked the lower trim piece around the exhausts and bent my license plate but it doesn't look like too much just a new piece and paint plus labor. Hard to believe it cost $1800 to fix but it will be fine. Don't lose sleep over it.

Noushy
Twitch's Sakhir M6 just got rear ended?
Lord have mercy.
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      06-25-2014, 08:06 AM   #42
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Quote:
Originally Posted by noushy
Twitch just got rear ended on Friday. Cracked the lower trim piece around the exhausts and bent my license plate but it doesn't look like too much just a new piece and paint plus labor. Hard to believe it cost $1800 to fix but it will be fine. Don't lose sleep over it.

Noushy
Being rearended, the growing epidemic, spearheaded by texting while driving. Sad this keeps happening to the beasts. Get it mended Noushy, can't have the only (to my knowledge) Brilliant White M6 beauty out of commission.
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      06-25-2014, 11:09 PM   #43
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Quote:
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Sorry no was responding it happened to me
Sorry Noushy. I hope it's ok. I feel for you.
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      06-25-2014, 11:10 PM   #44
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Quote:
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Being rearended, the growing epidemic, spearheaded by texting while driving. Sad this keeps happening to the beasts. Get it mended Noushy, can't have the only (to my knowledge) Brilliant White M6 beauty out of commission.
Sorry for the heart attack, Twitch!
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